The Cameron Team Realty Views

OUR NEW BLOG

2009-11-11T08:00:00.002-07:00

Visit us on our new blog:

Follow us on Twitter: twitter.com/jeffrcameron

Join us on facebook: http://www.facebook.com/JeffRCameron

Find all the latest real estate updates and related information.

Thanks for your continued support!

Jeff Cameron and The Cameron Team

New Blog in the works

2009-06-05T11:24:00.001-07:00

You can take a look at me new blog by clicking this link:

http://www.arizonabankdeals.com/blog/

Let me know your thoughts!

Jeff Cameron

Jeff Is Getting Ready For Another Trip To ALASKA!!

2009-06-04T15:17:00.004-07:00

Jeff is getting ready for another fishing trip to Alaska! Last time he went he caught a 110 pound Halibut that was about 5 feet tall! Hopefully he will get a bigger one this year!

Our market is Rocking in AZ. Check out my Real Estate update

2009-06-04T11:58:00.000-07:00

TokBox - Free Video Chat and Video Messaging

RETURN OF AMERIDREAM

2009-05-27T05:40:00.002-07:00

I just got the following email about AmeriDream and there persuit of Down Payment Assistance. This program was eliminated through political powers due to a desire to shift blame from those perpetrating fraud, to those who where defrauded. It is shocking to see how the the press and political groups can sway the public from the truth. Let's stop pointing fingers and fix the problem.
AmeriDream is good for America!

Just my opinion...Jeff Cameron

Here is the email:

FOR IMMEDIATE RELEASE:
Tuesday, May 26, 2009 CONTACT: Henry Fawell
(410) 545-5830

AmeriDream: U.S. housing market needs downpayment assistance

GAITHERSBURG , MD – With home prices falling nearly 20% in the 1st quarter of 2009, Ann Ashburn, President of AmeriDream, today outlined four reasons why the U.S. economy and the next generation of homeowners would benefit from downpayment assistance funded in part by sellers (DPA). Congress is currently considering H.R. 600, bipartisan legislation that would make DPA an allowable gift source for creditworthy borrowers of Federal Housing Administration loans.

“AmeriDream continues to provide full support to H.R. 600, which will stabilize home values, protect taxpayers, encourage responsible homeownership, and create jobs,” said Ashburn. “These are four compelling reasons to make DPA an important part of our national economic recovery strategy. AmeriDream will continue with the critical outreach and education efforts necessary to make a responsible DPA program available to qualified homebuyers.”

Stabilize home values: DPA can help stop the downward spiral in home values across the country by encouraging qualified homebuyers with FHA loans to enter the housing market. An estimated 300,000 homebuyers are eliminated from the housing market every year without DPA programs in place.

Protect taxpayers: H.R. 600 allows private partnerships between sellers and non-profits to provide downpayment gifts to qualified homebuyers at no cost to the taxpayer. That makes H.R. 600 a fiscally responsible alternative to government-subsidized downpayment assistance programs being considered by the U.S. Department of Housing & Urban Development.

Encourage responsible homeownership: H.R. 600 will enable 300,000 additional families and individuals – all qualified and approved for FHA loans – to become homeowners each year. The bill also requires that DPA recipients be offered homebuyer education courses to help them understand the financial responsibilities of homeownership. Lastly, H.R. 600 implements tougher credit requirements for DPA recipients, strict FHA underwriting guidelines, and stiff penalties for improper home appraisals.

Create jobs: DPA will create 235,000 jobs, generate over $4 billion annually in local and state revenues, and provide $2 billion annually in private capital for sustainable homeownership. DPA’s absence prompts fewer home sales, lower home values, more foreclosures, job losses, and lower revenues for cash-strapped local governments. H.R. 600 is a vital mechanism to stabilizing the U.S. housing market.

H.R. 600 is sponsored by Reps. Al Green, Maxine Waters, and Gary Miller. The program would use no tax dollars. A broad coalition of organizations H.R. 600, including the National Association of Homebuilders, the U.S. Conference of Mayors, the Congressional Black Caucus, the Congressional Hispanic Caucus, and the Labor Council for Latin American Advancement. Learn more about H.R. 600 at www.ameridream.org.

BACKGROUND: AmeriDream, a 501(c)(3) charity, was established in 1999 to provide housing-related programs to low and moderate income individuals and families. AmeriDream provides a wide range of programs, including homebuyer education, loss mitigation counseling, community development, and privately-funded down payment assistance. These programs are provided at no cost to the taxpayer. AmeriDream not only seeks to help families purchase homes, but also provide them with the education and other resources needed to be responsible homeowners.

Three More Homes Just Listed By The Cameron Team!

2009-05-26T16:08:00.004-07:00

The Cameron Team has put 3 more homes on the market!!
Campina

Dew Drop

AND... 71st Drive!
These homes are a Steal of a Deal!!

ZILLOW'S ZESTIMATE

2009-05-26T13:54:00.002-07:00

I just watched the video out by Zillow defending and explaining their zestimate. Not bad, it makes sense. But even Zillow says their Zestimate is questionable and that a Realtor should be sought out for better valuations.

Here is the link to their video:

Jeff Cameron's Real Estate Update!!!!!

2009-05-22T11:13:00.002-07:00

TokBox - Free Video Chat and Video Messaging

The Word is OUT: Phoenix's housing bust goes boom

2009-05-22T07:22:00.004-07:00

Yes, the word is out. Our market is showing signs of bottoming in its over sold state. Buyers are getting out bid on homes all over the valley. This is the time to get back in the market.
Are you interested in seeing homes before most agents even know they are available?? You can, just go to http://www.arizonabankdeals.com/

Please enjoy this story on how the Phoenix housing market is going from BUST to BOOM! And don't miss out this time around!
Phoenix's housing bust goes boom
By Nicholas Riccardi
May 18, 2009
Reporting from Phoenix -- After four years of renting because they were priced out of the real estate market, Jamia Jenkins and Scott Renshaw concluded the time had arrived for them to buy.
They saw that home prices had dropped so fast here -- faster than in any other big city in the nation -- that mortgage payments would be less than the $900 they paid in rent. The city is littered with foreclosed houses, so the couple figured they could easily snatch up something in the low $100,000s.
Three months later, they're still looking.

They have submitted 13 offers and been overbid each time.

"It's just pathetic," said Jenkins, 53. "Investors are going out there and outbidding everyone."

Phoenix's housing bust has turned into a quasi-boom, a sign that its market may have hit bottom and a sneak preview of what a national housing recovery could look like.
More homes are selling than at any time since 2006. Prices are slowly stabilizing. Buyers are once again finding themselves in frantic bidding wars -- only this time over foreclosed houses selling at deep discounts rather than ranch homes listing for vast sums.

Read the rest of the story: http://www.latimes.com/news/nationworld/nation/la-na-phoenix18-2009may18,0,7979477.story

APS, Lockheed Martin Corp and Starwood Energy join to build 2nd APS Solar Plant

2009-05-22T06:51:00.002-07:00

Awesome news in my eyes. I know there are many out there that still don't believe the release of Carbon into our atmosphere is damaging the planet. It is time to wake up!
Right on to APS. This new plant, Starwood Solar I, will be up and running by 2013. The plant will boost the amount of renewable sources for energy that APS has dramatically. When it is up and running, they will beat the Arizona regulation of 4.5% of renewable energy. They will actually double the required amount to 9%.
We are the valley of the SUN. The country needs more energy. We should be the leaders with innovation, design and manufacturing of Solar energy. Why aren't we? It is simple. The fluctuations in the cost of oil make it difficult. If oil was $150 per barrel and going up, then investors would support Solar with much greater investment. Or if the government would create regulation that supports this investment and takes away the risk created by oil prices bouncing all over, then investors would jump in. Remember, through regulation and government subsidies we pump about $17 billion into the US oil industry every year. Let's move that money to Solar, Wind, Geo Thermo and others and kick our addiction to oil. Thus slow down the funding to terrorists!
I urge you ALL to support legislators that "get it". Ones that will get us some Federal monies to team up with ASU and private enterprise. Increasing the research and development of these ideas, adding jobs and getting it done before another country does. We want them to buy from us, not us buy from them!
Just my opinion...Jeff Cameron

Bank-Owned Home Listed by the Cameron Team Just Reduced In Price!!

2009-05-20T16:06:00.002-07:00

This 3 bed 2 bath home is clean and well maintained. Home has Living and Family Room. Kitchen is bright and open with gas stove, island, pantry, and breakfast area. Carpet in all the right places, wood blind, ceiling fans with lights. Private Backyard with covered patio, and cabinets in garage. Your buyer will LOVE this home.

PHOENIX RANKS 5TH FOR MIGRATION OF PEOPLE

2009-05-20T12:38:00.002-07:00

This is why our real estate market is recovery more quickly, people are still moving here or buying second homes here. I can't tell you how many out of state buyers we have sold homes to or are working with to buy homes, there are a ton. I wanted to share this good news about the Phoenix Market.

5 cities where Americans are relocating
U.S. migration may be down overall, but these vibrant metro areas are still attracting newcomers.
By Forbes
Austin, Texas, is No. 2 on the list of cities where Americans are relocating. © Brandon Seidel/Shutterstock
Unemployment is on the rise, credit is tight and consumers aren't spending — which means they aren't picking up and moving much, either. Very few places in America saw significant population growth in 2008.
Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers — even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.

Top 5 cities where Americans are relocating
1. Raleigh, N.C.
2. Austin, Texas
3. Charlotte, N.C.
4. Phoenix
5. Dallas
Read the rest of the story: http://realestate.msn.com/article.aspx?cp-documentid=19873357&GT1=35000

SO MUCH FOR THE TAX CREDIT AS A DOWN PAYMENT

2009-05-19T15:45:00.003-07:00

Looks like they flip flopped on this deal. This would have really brought in more buyers at the lower price ranges. We have 3 buyers right now in the saving mode, that would have bought today if they could have used the tax credit for their downpayment. This would have increased demand and helped sell those foreclosures and bank owned properties.

Tax credit ineligible for down payment
Feds reverse rule to assist first-time home buyers
by J. Craig Anderson - May. 19, 2009 12:00 AM
The Arizona Republic
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.

WITH HOUSING TURN AROUND WILL COME RETAIL SALES AND JOBS

2009-05-19T07:18:00.003-07:00

This is just the beginning. With all these homes selling that are in need of repair, Home Depot and lowe's are going to be increasing sales and profits. We are moving in the right direction.

Just my opinion...Jeff Cameron

Depot Profit Rises on Cost Cuts

Topics:Recession Housing Retail Sales Stock Market Earnings

Sectors:Retail

Companies:Home Depot Inc

By: Reuters 19 May 2009 07:50 AM ET

Text Size

Home Depot's quarterly profit beat Wall Street estimates on Tuesday as the world's largest home improvement chain reined in expenses.

Neubie

Home Depot Store

The results came the day after rival Lowe's reported better-than-expected quarterly earnings as it saw some strength in outdoor projects during the spring, even though consumers still kept away big-ticket home renovations.

Read the rest of the story: http://www.cnbc.com/id/30819686

MORE GOOD NEWS FOR FIRST TIME HOME BUYERS, USE TAX CREDIT AS DOWNPAYMENT

2009-05-18T09:43:00.002-07:00

Yes, that is NAR working to find answers to the mortgage meltdown. HUD is working on a program with preferred lenders to use the First Time Home Buyer Tax Credit of $8,000 as a down payment.
This would add to demand. This whole issue right now is about supply and demand. Oh and don't listen to those naysayers that blamed this whole mess on 100% financing. This problem was not caused by 100% financing or stated income. It was caused because lenders fraudulently putting people in loans not designed for them. What I mean is the stated income loans were designed for people that were paid through 1099. Those people are unjustly qualified by lenders and thus many times need stated income. A 1099 self employed individual may have $2,000 a month is payments as part of their expenses. Lenders require them to count that expense twice, once in their P & L and again when qualifying for the loan. Thus, stated income was needed. However, in the heyday, when a buyer did not qualify through conventional means the lender just switched them to stated income. Even though the buyer was a W-2 employee. Most buyers had no idea this was happening, nor that it was fraudulent.
OMG, I went off on a tangent again. Read the article below from NAR about HUD allowing buyers to use their tax credit towards their downpayment.
Just my opinion...Jeff Cameron

WASHINGTON, May 12, 2009

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the
Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.

Donovan’s remarks came in an address to several thousand Realtors^® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors^® Midyear Legislative Meetings & Trade Expo here.

Secretary Donovan said that important changes, which the National Association of Realtors^® has been calling for, will help consumers purchase a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Donovan said the Obama administration plans to further stabilize the housing market. “I do think we have some early signs hat the market overall is stabilizing,” said Donovan. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”

http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019

THE CAMERON TEAM MAKES ABC 15 NEWS

2009-05-15T07:29:00.004-07:00

In a real estate report on ABC 15 news, The Cameron Team listing on Palm Ridge in Sienna Canyon at McDowell Mountain Ranch was shown. This article was about the housing market hitting bottom. They state the 85255 area sales prices are up 11% YTD. I don't know that I agree with that, but we love the recognition! Thanks ABC 15 news.
Jeff Cameron
See our listing and sign at the link below.
http://www.abc15.com/mediacenter/local.aspx
Click on the story, "Do you know what your home is worth in Arizona?"

INVENTORY OF SINGLE FAMILY HOMES DOWN 33% YEAR TO DATE

2009-05-15T01:03:00.003-07:00

How about that for a head liner. It is the truth. On January 1, 2009, there were 43,000 Single Family Homes on the market in the MLS here in the Metro Phoenix area through ARMLS. Today that number is 28,851. That is a 33% drop in inventory over the past 4.5 months! The real estate market here is the valley is turning positive.
I listed a home just north of Grayhawk in Scottsdale on Tuesday. We have 4 offers and will be selling the home for over list price. It was listed based on the last comps. Yes, it is a bank owned Foreclosure home, but what difference does it make? It is selling for more than the last sale, that is called appreciation.
To get bank owned homes emailed to you before most Realtors even know they exist, go to www.ArizonaBankDeals.com

REPUBLIC: VALLEY'S RESALE NUMBERS BRING HOMES OF RECOVERY

2009-05-13T07:41:00.004-07:00

Hey hey hey, two days in a row with positive news about the real estate market here in Metro Phoenix, are the news people dipping into the coolaid???
Today the republic reported last month 6,640 existing homes changed hands, well below what the MLS shows, but any how that was up from their 5,940 number for March. Most important, they are finally reporting that "home sales have doubled from April 2008." Then they boldly reported, "Valley foreclosures fell in both March and April, more indicators that the housing market is beginning to show signs of improvement."
Two big thumbs up for the Arizona Republic, thanks for reporting the good news. Let's keep it up. With a market this low, 5 years from now looking back we will see that every buyer was a winner!
Just my opinion...Jeff Cameron
PS
Want to see foreclosure homes before most brokers even know they exist?
www.ArizonaBankDeals.com

FINALLY, SOME REPORTS ON HIGHER SALES OF HOME

2009-05-12T18:31:00.003-07:00

It is so nice to finally see some real reports on how much the home sales have jumped recently. This report shows home sales in Arizona are up 50.2%. Prices are down, but sales are up. We need demand to take over before we see price increases. They are coming soon, well coming now in some areas. Below is taken from the article quoted after this quick quote, there is a link to the whole article at the end.
Just my opinion...Jeff Cameron
The largest sales gains were seen in some of the hardest hit areas. Nevada was up 116.8 percent from a year ago. California was up 80.6 percent. Arizona was up 50.2 percent and Florida was up 25 percent.

First time homebuyers taking advantage of foreclosures and short sales

Lita Epstein
May 12th 2009 at 10:00AM

About half of all home purchases in the first quarter of 2009 were first-time home buyers taking advantage of the deeply discounted foreclosures and short sales, as well as their $8,000 tax credit, according to the National Association of Realtors (NAR). NAR released its Metropolitan Median Prices survey for the first quarter today.
read the rest of the story: http://www.dailyfinance.com/2009/05/12/first-time-homebuyers-taking-advantage-of-foreclosures-and-short/

Great Bank-Owned Home in Grayhawk Just Listed By The Cameron Team!

2009-05-12T14:08:00.002-07:00

Perfect family home in N Scottsdale w/large walk-in bdrm closets, huge storage closets, & large loft area for kids, office, or exercise. Upgrades includes: 16' tile, built-in refrigerator, quite dishwasher, recessed lighting & great lighting fixtures, 9 Ft ceilings, & custom 2 1/2' wood blinds. Home is even Pre-wired for surround sound! Wonderfully landscaped front & back yard with Malibu lights. Neighborhood has sidewalks, a greenbelt, & kids play area. Close to shopping, entertainment, & schools! All offers are subject to IndyMac Banks Senior management approval and any offers or counter offers by Indymac bank are not binding unless the entire agreement is ratified by all parties. Any cash offers, must include proof of funds &buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE

TRADE DEFICIT $300 BILLION BELOW LAST YEAR, COULD THAT BE DUE TO OIL PRICES?

2009-05-12T07:11:00.003-07:00

So, I read the report on the trade deficit and shockingly no where is oil mentioned. We import about 20 million barrels of oil a day. At today's approximated $60 per barrel that is $1.2 billion dollars a day in trade deficit. Multiply times 30 days in the month and $36 billion per month is our trade deficit with the world in oil. If my numbers are correct, then we would have a trade surplus if it weren't for oil imports!!! Please someone correct me if I am wrong!
Let's look at last year when oil was, say an average of $120 per barrel. Those are easy numbers, all other variables the same then our trade deficit would be $72 billion per month. Wow, read the article, last year we averaged $56.75 billion per month in trade deficit. I guess all other variables were not the same.
The REALITY IS the trade deficit is breaking this country, our wealth being shipped to other countries. Folks, this is a redistribution of wealth, in other words a TAX. This is easily curred, stop importing oil. That would break the backs of countries like: Russia, Iran, Venezuela, and affect others in the middle east, but those in the middle east don't need any more money.
I know we can't stop importing oil over night, but we can pass regulations that equalize the playing field for clean energies. REMEMBER, big oil has had the help of favorable regulations for years and today is still subsidized by the US Government or Tax payer for 10's of billions of dollars per year.
OK, just some food for thought.
Just my opinion...Jeff Cameron

Trade Deficit Widens to $27.6B

By MARTIN CRUTSINGER, AP

WASHINGTON (May 12) - The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.

The Commerce Department said Tuesday the deficit widened to $27.6 billion in March, slightly lower than the $29 billion gap that economists had forecast.

The March deficit was 5.5 percent higher than February's revised $26.1 billion trade gap, which had been the smallest since November 1999.

Through the first three months of this year, the deficit is running at an annual rate of $359.7 billion, far below last year's $681.1 billion. Economists expect the deficit will remain at low levels this year as a recession in the U.S. crimps demand for foreign goods.

Read the rest of the story: http://money.aol.com/article/trade-deficit-widens-to-276b/471938

Comments on Arizona Republic's Article, "Bankers fault themselves in meltdown"

2009-05-10T07:45:00.003-07:00

The pen is mightier than the sword! After reading the article, Bankers fault themselves in meltdown" I had to send in my 2 cents. I believe the article and research behind it shows how the banking industry is still in denial and does not understand what they did to us! My letter to the republic writer, Russ Wiles is below.

Russ,
Thank you for your article, "Bankers fault themselves in Meltdown." I am glad to see more attention to this subject. However, I believe the bankers are still in denial about what happened and thus making things worse.
I am a valley Realtor and have been since 1995. I was in the trenches and my experiences over the past few years guide me to these beliefs.
This meltdown has can be blamed on many groups, including us Realtors, however, I believe the largest issues lie with the lending industry. I don't believe it was the pressure for home ownership that caused the meltdown, but the pressure for bank fraud. I don't believe interest only loans are the problem, nor do I believe 100% financing is the issue. When we look at 2 example buyers in 2007, both buying $300,000 home. If one was interest only, then 2 years later they owe about $292,000. At the same time another buyer puts 10% down and 2 years later owes, $263,000. In each case when the homeowner finds their home is now worth $140,000, they begin to question why they are working so hard to make these payments. They also begin to question why the value was so high and believe they have been scammed. Simple issues of life come along and push them over the edge to short sale, loan modification or foreclosure.
BUT WHY DID PRICES CLIMB SO HIGH? What I saw and what I believe is the following:
Loan officers started pushing "Sub Prime Loans" they make more money on them.
"Quasi Investors" stared buying 5 to 10 homes thinking they could flip them and strike it rich.
Demand for Sub Prime Loans increased because of Wall Street FRAUD.
Values went up to a point where most could not qualify without a "liar" loan, and most purchased liar loans not because they knew they were, but because the unlicensed loan officer sold them that loan. They make more money and can sell a larger loan amount in this case for this buyer.
Appraisers used comps from totally unrelated neighborhoods to get values higher.
People were making tons of money so the "rush for real estate" exacerbated things.
With this value run lasting about 4 years, even the biggest skeptical gave in to what was happening.
The only way to stop it was for lenders to stop lending. They did and that fed to the crash. Right now we are in a huge recovery. It has started in the lower end price ranges, but is quickly moving to higher value homes. Supply of Single Family Homes is 29,603 there are 16,033 pending home and 25,407 have closed escrow so far this year. It is easy to see the numbers are looking better. The inventory level is below 4 months when looking at the past months closings and right at 5 months when looking at closed YTD. We are in recovery. But, due to stricter mortgage and appraisal rules today, values continue to decline. WHICH IS HURTING THE BANKS MORE THAN ANYONE ELSE, except the tax payer.

Wow, I think I got off track. Lastly, I just want to say, when I look at what the bankers say:
1. "top answer... lax loan-underwriting standards" I say, BS, it was FRAUDULENT use of those standards by un-licensed loan officers.
2. "next most common response...political focus on encouraging home ownership" NO one told you to go to the masses and sell them fraudulent loans to increase home ownership. There were plenty of other options that would not have run up the market.
3. Then, "lax oversight of the mortgage industry." Finally, this should be number 1 through 7! Bingo!
The "unreliable and dishonest borrowers" that I mostly experienced then and now with the short sales, were investors! As I called them, "Quasi Investors" which is a term I use for someone that is not in the financial position to be an investor.
So many blame the public, I mean the borrower, for not reading loan documents. How many people do you think read their: health insurance plan, life insurance policy, auto insurance policy, prospectus for every company they invest in, research on their 401K and all related documents. I would believe the number of Americans who read ALL these documents would be in the less than 1% range. How can you blame a borrower. They get 2 weeks worth of solid reading and have to do it in 1 hour!!!! Oh and the mortgage company is usually getting those documents to title late, so they are rushed to get in and sign to close on time.
Anyway, I hope we can stop blaming issues that did not cause this problem. Focus on the ones that did and realize, when the market is hot is when you should make it more difficult to get approved. When the market is hot is when appraisers should be more stringent. Right now we need 100% financing, we need to take into consideration the difference between a trashed REO or Short Sale compared to a nice home when appraisals are done.

That's it, HAPPY MOTHER'S DAY!

Thank You and Make It A GREAT Day,

Jeff Cameron
Keller Williams Integrity First
480-502-7699
Jeff@AzREOConnection.com
www.TheCameronTeam.com
www.ArizonaBankDeals.com

Another Bank Owned Home Closed Thanks To The Cameron Team!

2009-05-08T16:42:00.003-07:00

The Cameron Team is on a role and closed another Bank-Owned home today!! We were the listing agents to this great metro phoenix property. The buyers and the bank couldn't be happier with the ease of this close!

Villa Maria~ Wonderful all block 2 bed 2 bath home in a very nice and well maintained neighborhood located in North Phoenix, close to I-17 and 101. Home has a 2 car garage, large family room, great kitchen, spacious backyard, and carpet in all the right places. No HOA and all ready for a new family.

SOLAR ENERGY SEMINAR in MCDOWELL MOUNTAIN RANCH

2009-05-08T07:06:00.004-07:00

In reading through Trail Talk, our newsletter here in McDowell Mountain Ranch, I read about a coming solar Energy Seminar. Interesting, I plan on attending. Clean energy is our future and where we should be spending resources in research and development. I truly believe clean energy will be the next boom, like the technology boom of the 90's. We can either be the leader or buy it from other nations, which would you prefer?
There are 2 seminars: May 20th and June 10th at 6 p.m. The will be at The McDowell Center, here in McDowell Mountain Ranch.
Sky High Energy will be hosting the solar seminar. I encourage all to attend. Let's show them we care. We care not only about new technology, tax credits and the environment. But we care about making the USA a leader in ALL clean energy technologies.
I look forward to seeing you there.

JOB LOSS SLOWS ACROSS AMERICA

2009-05-08T06:57:00.004-07:00

The job loss slowed in April as the market begins its recovery. Jobs are always a lagging indicator. I believe we will be in recovery by the 4th quarter of this year. As the sales of homes continue to improve, this will add jobs. More lenders, more title reps and more Realtors. As these new home owners move in to these REO, foreclosure, homes; they will need to fix them up. They will buy paint, carpet, appliances, plants and furniture; or better yet hire contractors to do much of the work. This will continue to add to the job market and bail us out of this mess.
Just my opinion...Jeff Cameron
Article from CNBC.com below
Layoffs Slow To 539,000 in April; Jobless Rate Rises
Microsoft CorpBy: AP and CNBC 08 May 2009 09:37 AM The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months.
But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Labor Department tally released Friday wasn't nearly as deep as the 620,000 job cuts that economists were expecting, and was helped by a burst of government hiring.
The rise in the unemployment rate from 8.5 percent in March matched economists' forecasts.
See the rest of the story
http://www.cnbc.com/id/30638052

2 More Houses Closed Today Thanks To The Cameron Team!!!

2009-05-07T15:49:00.005-07:00

The Cameron Team closed two more houses today! We were the listing agents for Meadow and the buyers agents for Kathleen!! WOW What a crazy week its been dealing with all these escrows. These two great homes were also the rare regular listed homes and therefore we did not have to wait for the bank to approve the price! The Happy Home Owners are moving in as we speak!

Meadow~NOT A BANK OWNED HOME OR SHORT SALE. SAVE TIME AND MONEY WITH THIS HOME. No Hassle with the Bank, No waiting for approval, No needed Repairs. Home is in GREAT condition, well maintained, and completely turn-key. This 3 bedroom + loft can easily be converted to a 4 bedroom home. Backyard offers beautiful yard with pebbletech play pool, stucco and painted walls, covered patio and colorful flowering. Inside you will find faux wood floors, gas fireplace, wood blinds, custom painting and decorative lighting. The kitchen offers raised panel cabinets, microwave and gas cooking. Home is convenient to 101 & 51 Freeways plus Desert Ridge, PV Mall, Kierland and a quick jump to downtown.

Kathleen~ North Ranch! Well maintained single level home situated on nearly 1/3 acre corner lot w/desert landscaping. N/S exposure. Vaulted ceilings in liv./din. room, fam. room, kitchen & master bdrm. French doors from eat-in kitchen to cov'd patio & lovely south facing backyard w/pool. 4bdrms 2 baths w/master split. Spacious master bdrm. w/walk-in closet & arcadia doors to pool. Master bath features his & her sinks, glass block & garden tub. Light/bright kitchen w/skylight and walk-in pantry. Kitchen opens onto family room w/wood burning fireplace. Water softener & R/O system. Add'l storage in 3 car garage. A great home in a great location. Near Kierland Commons, Scottsdale 101, Desert Ridge, Fashion Square, restaurants, movies, groceries, golf & much more.

The Cameron Team Closes 4 Homes In The Last Week!

2009-05-07T11:38:00.004-07:00

The Cameron Team has succesfully closed 4 homes in the metro phoenix area in the last week! Three of the four homes were bank owned! Cheerywood was sold by Jeff and Galvin was sold by Tony! We were the listing agents on San Miguel and Citrus Canyon!

GOOOOOOOOOOOO CAMERON TEAM!

Cherrywood~METICULOUS Chandler home that is Move-IN ready with 3 bedrooms, 3 full bathrooms, den/office with built ins, formal living & dining room, eat in kitchen and family room. Open floor plan, Split master bedroom with bay window overlooking the backyard, large master bath and custom closet. Lovely, private backyard landscaping with HEATED pool, large covered patio and red brick walkway. 3 car garage with insulated attic. Electrical upgrades with designated circuits to the office, game room, home theater and garage. Soft water & R/O system. Liquid stucco on exterior with 25 year warranty.

Citrus Canyon~ Very private, corner lot with lots of potential. Awesome 1,638 sq.ft.floorplan with 3 bedrooms, 2 baths plus front seperate formal living/dining and family room. Very open and spacious floorplan! This home and the community offer so much for such a little purchase price!

San Miguel~ Not your everyday REO, this beautiful central corridor remodel is turn key! 18'' tile floors throughout except the bedrooms. Granite slab in kitchen and baths! Kitchen fully remodeled with Hickory cabinets, Stainless appliances and granite slab. Family room added with fireplace. Large yard with room for pool! New hardware and doors! no dishwasher at home. FANTASTIC LOCATION

Galvin~NOT a short sale...corporate owned...much better!! Great property on almost an acre! Private pool, Separate casita with garage and decorative paint! Home needs minor cosmetic TLC. Come get it! Property to be sold as is. No disclosures, as seller has never lived in home.

Federal Funds Aid Foreclosure-Home Purchases

2009-05-06T12:52:00.005-07:00

If you are a thinking about buying home in the near future you may wanna check this out! You can get money towards your downpayment!!!! Check out this site....www.yourhomeaz.com!!!!!!! You could possibly get up to $15,000 towards your downpayment and closing costs!! WOW!!!

Funding is made available through the U.S. Housing and Urban Development Neighborhood Stabilization Program (NSP). The state of Arizona and nine other counties and communities received more than $121 million to help stabilize our hardest hit neighborhoods through a variety of efforts.

FIND OUT IF YOU ARE ELIGIBLE!!!

New programs, backed by federal funds, now are available to help people buy foreclosure homes across metropolitan Phoenix.

Money for the programs, which include down-payment and closing-costs assistance, is coming from the $121 million in Neighborhood Stabilization funds Arizona is receiving.

The money must go toward helping the state's neighborhoods hardest hit by foreclosure, and most of those areas are in the Valley.
Neighborhood Stabilization programs are being offered by the state, Maricopa and Pima counties and the cities of Avondale, Chandler, Glendale, Mesa, Phoenix, Surprise and Tucson. Information on most of the programs is on the Arizona Department of Housing's new Web site, YourWayHome Az.com. Go to the site to see if you qualify. In some cases, buyers could qualify for more than one program.

Most cities are offering qualifying buyers help in purchasing and even renovating foreclosure homes. Phoenix received the biggest share of the federal funds, $39.5 million. It is offering eligible buyers as much as $15,000 in down payment and closing costs.

The state is using more than half of the $38 million it is getting to help people with down payments on foreclosure homes. Borrowers who earn 120 percent or less of an area's average median income are eligible.

Arizona's Neighborhood Stabilization funding was approved in December, but the money wasn't available until April. Not all of the programs are fully operational yet, but prospective buyers can put their names on waiting lists.

Most programs require home-buyer counseling.

Also, watch out for company Web sites with similar names that ask for money.

All information on the state's Web site is free, said Donald Cardon, who took over as director of the Housing Department in March. He said the Neighborhood Stabilization programs will help some people afford homes who couldn't just a year ago.

The YourWayHomeAz Web site will be updated as new programs are available. Neighborhood Stabilization funds must be spent by 2011. One concern is that in some of the neighborhoods, the supply of foreclosure homes is falling as more investors purchase the properties. The recent drop in Valley foreclosures could also impact the programs.

Jeff Camerons Weekly Real Estate Update!!

2009-05-06T12:31:00.003-07:00

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Our new web site is a hit!!

2009-05-06T08:41:00.002-07:00

Our new web site is a hit. We just got it up and running in late January of this year. We are driving more buyers than ever to our listings. Here are some stats for the month of April:
General Traffic

• 272 new visitor(s)

• 1186 search(es)

• 24617 propert(ies) viewed

Contacts and Leads

• 121 new subscriber(s)

The Best and Brightest

• The most popular active Featured Property on your site was: - 6511 W ADAMS STREET, Phoenix, AZ 85043-- Show me other Featured Listings that were popular

Your Site Activity

• You had 504 visitor(s) to your Site

• 327 of these visitor(s) are currently registered as Leads or Subscribers
Averages and Trends

• Your average site visitor conducted 10 search(es) and viewed 58 listing(s)

• Activity on your site is DOWN compared to last month

• You are in the top 4.0% of our most active Web sites

PENDING HOME SALES RISE ACROSS NATION, SOAR IN ARIZONA

2009-05-05T06:42:00.003-07:00

I just returned from a convention in LA with famed real estate motivated and trainer, Tom Ferry. Top agents from across the country were present to learn and share what's happening in their markets. The tone was up beat, all agents were reporting tremendous activity in their markets. Some are seeing bidding wars where 20 offers bid a home 20% over asking price the first few days on the market.
Nationally, the news rocking Wall Street yesterday was that Pending Home Sales Index had risen 3.2%, greater than expected and is 1.1% higher than this time last year. I am not sure what the rest of the country is experiencing, but the reports from agents were good. Here in the Phoenix metro area, I have been tracking the market in a spread sheet since 2005. I track only single family homes, don't like the tricky maneuvers of condo conversions and the like to mess with my numbers. Last year at this time. we had 7,292 single family home pending in our market place. This year, we have 15,563. That increase is well over 100%, actually around 113%. FOLKS THE MARKET IS RECOVERING. I can't believe how slow the press and Wall Street are to actual numbers.
The article below is from WWW.CNBC.COM
Pending sales of existing U.S. homes rose in March for a second straight month, a private survey showed on Monday, supporting views the housing market was close to hitting a bottom.
Meanwhile, US construction spending rose a slim 0.3 percent in March in the first increase since September, according to government data that beat analysts' forecasts of a 1.5 percent drop.
AP
--------------------------------------------------------------------------------
The National Association of Realtors Pending Home Sales Index, based on contracts signed in March, rose 3.2 percent to 84.6. February's pending home sales index was slightly revised down to 82.0 from 82.1.
Compared to the same period a year ago, pending home sales rose 1.1 percent.
Economists polled by Reuters had forecast pending home sales to be flat in March.
Read the rest of the storey: http://www.cnbc.com/id/30559126

Just my opinion...Jeff Cameron

Weekly Real Estate Update From Jeff Cameron!

2009-05-04T10:06:00.001-07:00

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SHOCKING BANK RESPONSE

2009-05-02T05:56:00.002-07:00

Well we got word back from one of the banks we are working to approve a Short Sale in McDowell Mountain Ranch in Scottsdale and the answer was a big FAT NO! I was shocked! In this real estate market every sold Short Sale means one less Foreclosure. With the condition of this home is also means $20,000 pumped into our economy. Plus this buyer is paying cash. That pays off a loan with cash and puts more money into the system.

Some of you may wonder why I am so shocked the bank is rejecting our Short Sale, the why is because almost all other Short Sales we have dealt with have eventually been approved. As a matter of fact, this Short Sale was approved with a different buyer. But as we see happen so many times, by the time the short sale was approved, the buyer bought another home. The buyer told us all the way up to the week before approval they were still waiting, in reality they had already bought another home.
The disturbing part of this is WHY?????? Why was the Short Sale rejected by the bank, when property values are dropping in the Scottsdale real estate market? You are going to be shocked by the answer. One would think, maybe not a good enough deal. No, for the condition the renter left the home in, it was a market value sale. The reason was, the bank said and I quote, "this is not enough pain for the seller." You see our first loss mitigator was gone and a new one was assigned to represent the bank. The new one is pathetic. This bank is owned by, or at least funded by, the US government right now.

Isn't this suppose to be about dollars and sense?

Is this about revenge?????

Truly, the seller does not care about their credit. Their credit is already trashed and at their ages there is no desire buy homes. The seller wanted to do the right thing and try to get the home sold now and not run the market lower with another foreclosure. The seller is retired and has lost a fortune. We have been working on this since the beginning of DECEMBER.

WHO IS REALLY TO BLAME FOR THIS MESS????? This is not a hard question.

1. The Public. They refinanced out all their equity. They bought homes they could not afford. "Impostor" investors bought 10 homes with no ability to repay. They got 100% financing. They did stated income or "liar loans." They thought things would never go down. They did most of this because their loan officer told them to or that it was OK.

2. Wall Street. They bundled poor quality loans with A quality loans and claimed they were all A quality. This drove the demand for low quality loans and made them easier and with lower interest rates. Folks, this was FRAUD. Most of these guys made their fortune and have moved on.

3. The Mortgage Companies. First of all, let's get this straight, the banks new what they were doing and what would happen! Sales managers hired sales persons and told them it was OK to put everyone in a 100% loan using stated income. They make much more money on these types of loans. They sold people with $50,000 a year income or even no income 10 houses. They were the financial advisers to the public and "put them into these loans." The reality is most borrowers didn't even know what they signed.

Many have ripped on the public for buying these liar loans, stated income loans, sub prime loans, interest only loans, adjustable rate loans and what ever else is out there. Do average Americans read the one inch prospectus for each mutual fund their retirement is invested in? Do average Americans read their life, auto, health and/or disability insurance documents?
I believe the answer is NO, most Americans don't read any of that. They rely on the financial professional, as did borrowers in getting these loans.

Let's get back to my borrowers on the short sale. They are investors, and believe me we are doing plenty of short sales for investors. They put 20% down on this purchase, $200,000. There is no recourse by the bank if a foreclosure occurs. Yes, they own 10 other homes, but most are upside down. They are actually paying to keep them a float and not go into foreclosure. They sold this home because the tenant trashed the house and they did not have the $10,000 to invest into it to get it rehabbed for rental.

What makes them be treated differently than the guy that bought 10 homes with NO, I mean ZERO, money down. Then when the market changed, this example investor kept all the rent and finally at last sells them in short sales. Only to claim bankruptcy after this is all over. I will tell you the difference, this guys(example investor) greed is what caused the issue. This type of person was a big part of why we are in this mess today. Hey, most of these guys made $500k on the first round. Lived big, spent it all and then lost in the second round.

Why would a bank penalize the smarter investor? The one that actually put money into the investment. The one that is trying to do the "right thing." And penalizing in a way that will not hurt them, it will only hurt the bank. The bank will loose $20 to $50K through this action. The bank should be more concerned with THE US TAX PAYERS MONEY THEY ARE WAISTING AND LESS WITH INCREASING THE LEVEL OF HURT FOR THESE PEOPLE!

Just my opinion...Jeff Cameron

Looking for Good News for the AZ Real Estate Market?

2009-05-01T10:41:00.007-07:00

Hello,

it is May 1st and the April numbers are out! As I have been reporting over the past weeks, sales have taken off! Below you can view several charts detailing and affirming this action in our real estate Market. Let's look at a couple of facts, shall we???? Single Family Home closings in April are up 84.9% compared to last year, how is that for a good stat? Why do news reporters not report good news? Sales rocketed in 2005, when comparing April 2009 closings to April 2005, we are only 200 lower this year. We beat 2004 April closings this year. I suspect we will be beating the 2005 numbers real quick.

The chart above shows single family home closings for the first 4 months of each of the last 9 years. 2009 is on FIRE!

Here is another look at single family home closings over the past 9 years.

This chart shows months of Inventory of available homes compared to Pending homes. You can see that we have returned to levels of 2005.

This chart shows the actual number of single family homes on the market. It goes back 3 years and we are now at lower levels than those of May 1, 2006!

Is it market turn around? What is happening in the market? Are we at a bottom? These are difficult questions to be precise with and usually can only answer with definitiveness several months after they have occurred. But let's use some common sense here, THE MARKET IS TURNING, BOTTOMING RECOVERING!

Arizona Real Estate Market update from Jeff Cameron of Keller Williams!

2009-04-28T08:45:00.000-07:00

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Another Wonderful Home in McDowell Mountain Ranch Just Listed By The Cameron Team!

2009-04-16T15:17:00.003-07:00

A truly wonderful 3064 SQ FT Estate with all the right touches in McDowell Mountain Ranch. Diablo Travertine and wood style flooring throughout first level with carpet in the family room. Drywall niches in family room are perfect for big screen tv and art objects. Plantation shutters in downstairs rooms. Kitchen has ample cabinetry, black appliances and Sierra Series black corian counters. Upstairs has cherry finished wood floors with a balcony revealing fabulous view of the golf course, city lights, and mountains. Home has a den/loft that is perfect for a playroom or an office. The back yard is an entertainers dream with PebbleTech play pool, cozy built-in Kiva fireplace, and outdoor kitchen with built-in BBQ. Also, garage has built-in Cabinets.

Real Estate Update!!

2009-04-16T13:51:00.000-07:00

www.tokbox.com

METRO PHOENIX HOME INVENTORIES CONTINUE THEIR FALL

2009-04-13T06:44:00.002-07:00

Yes, the good news keeps coming. Inventory of single family homes here in Metro Phoenix continue to decline and a surprising rate. When we crossed from March to April I expected a good decline in inventory, but was wondering to the extent. You see Realtors typically set their listings to expire at the end of the month with retail sellers(retail in non-bank owned or short sale). They do this to squeeze a few extra days in their listing agreement. An agent lists April 10th on a 6 month contract, and they typically will have it expire October 31st, thus getting 6.5 month agreement. Banks, on the other hand, they give 3 to 4 months from list date exactly. So, that made me wonder how great the fall off in inventory would actually be crossing from March to April. My tracking is cut off at the end of the day on Mondays, March ended on the 30th. Inventory fell by 1,156. I thought, well we caught the expiring properties this week. The next week inventory fell by 1,714. I thought, WOW, the majority came in on the 31st. But then the next week, last week, inventory fell by 1,156 as of now 7 am on Monday. My tracking cuts off at the end of today, so that is not the full extent. This is fantastic for our market. Demand is out stripping Supply by great lengths!!!!
Inventory Jan 1, 2009 43,000
Inventory Feb 1, 2009 42,056
Inventory March 1, 2009 39,900
Inventory April 1, 2009 37,250
Inventory Today, April 13, 2009 34,883
Based on closings over the past 4 weeks, we now have 5.2 months supply of single family homes for sale in Metro Phoenix. This is the point were we transition to a seller's market. Let's see what happens!

IS THE END OF THE FINANCIAL CRISIS NEAR??

2009-04-09T06:23:00.003-07:00

Wells Fargo is rocking Wall Street today, see article below. Are these the first signs of the recovery? No, the first signs were the recovery in the housing market. We began to bottom out when sales hit their low levels of only 700 per week in mid 2007. That was followed by price declines throughout 2008. In the beginning of 2009, sales regained their normal rate at about 1,500 per week. But as the market started to shift positively sales have soared! For the last 8 weeks, enough to make more than a trend, home sales have jumped to averages of over 2,000 sales per week. Over the past 2 weeks we have experienced 2,400 per week. At the same time, inventory levels have crashed, well relatively speaking. Inventories of single family homes are down 10% over the past 3 weeks and are down 17.6% YTD. These are the signs of a recovery in housing.
So, how did Wells Fargo turn around and make a profit???? I believe one of the biggest reasons is that they are paying, I don't even know, 1.5% on savings for a blended cost. Then lending that money at 5%. That is a huge spread! It seemed logical that if the Fed kept rates artificially low, it was only a matter of time where banks would start to profit from that. Also, since they have written down most of the "toxic" assets to zero, now when they sell them there is a profit there too.
Let's keep it rolling, this shift we experienced over the past 4 years was very difficult on me and I am ready to be a happy survivor!

Every major U.S. bank is rallying like mad on the heels of Wells Fmade a profit in the first quarter. WFC shares have spiked up 23 percent to $18.50 in early trading.

The financial firm said it expects to report record net income of approximately $3 billion for first quarter 2009, or approximately 55 cents per common share after preferred dividends, including $372 million in dividends paid to U.S. taxpayers on the U.S. Treasury's Capital Purchase argo (WFC) reporting that it Program investment.

The word "record" must floor investors based on the perception that American banks still face substantial write-offs from toxic assets, consumer loans, and commercial real estate.

Wells Fargo predicted that it would post total revenue of $20 billion, up an estimated 16 percent, driven by the core businesses it owned before buying Wachovia. Results at Wachovia were better than expected.

If one or two other large money center banks post strong results, there will be a temptation to think that the worst of the financial crisis is over.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Don't forget, see foreclosure homes before most agents even know they are there: www.ArizonaBankDeals.com

Another GREAT BANK-OWNED Home Listed By The Cameron Team

2009-04-06T11:34:00.001-07:00

Monthy Real Estate Update!

2009-04-02T14:07:00.005-07:00

Click the Arrow below and see my monthly real estate update. Some of the facts and data are below in graphs and dialog.

Let me know if you have any questions.

http://www.tokbox.com/?e=

Click on any graph to make it bigger.

Home closings soared in March. At the graph was created 6,755 single family home closings were recorded in March. That number has been adjusted up to 6,851 as of April 3rd. This represents the 3rd best March ever for single family home closings. At the rate homes are selling we should close over 8,000 in April. When comparing to May of 2006, a time when the market was in good condition, we now have about the same amount of homes on the market as we did in May of 2006, but we are selling twice as many homes. Over 2,400 single family homes sold last week, compared to about 1,200 in May of 2006.

Again, click on the graph to make it larger and easier to read.

Below is a graph of weekly home closings in the metro Phoenix area. You will see the partial line which is 2009. The home sales in 2009 are substantially higher than any other year, other than 2004 and 2005. Demand has returned to the market.

Click on the graph to make it larger and easier to read.

Below is a graph of the inventory levels of single family homes over the past 3 years. You can see, supply is contracting. The fact that demand is increasing while supply is decreasing, these are the ingredients for a market recovery. Remember 70% of the homes selling today are in need of some level of rehab. This should start to bring more demand to other goods and services for home improvement, appliances and landscaping.

Remember to see new listings of foreclosed homes before most Brokers have a chance to see them, visit: www.ArizonaBankDeals.com

Jeff Cameron

PLEASE ALL JOIN ME IN CONGRATULATING JEFF!

2009-03-31T11:04:00.004-07:00

CONGRATULATIONS JEFF!!!

Jeff was named #12 in the Top 20 of SW Region for Keller Williams Realty International! Please help me to congratulate him on his hard work, patience, and persistence!

Great Home in McDowell Mountain Ranch Just Reduced in Price AND Approved by Countrywide!

2009-03-30T17:25:00.004-07:00

GET OFFER IN ASAP!!!! ***3/30 Approved with Countrywide Mortgage at 565,000. GET OFFER IN ASAP!!*** This Home is located in Sienna Canyon @ McDowell Mountain Ranch, known for large lots with a view. This home is located on a cul-de-sac street and backs to preserve, offering mountain & city light views. Enjoy the resort like backyard with fenced & heated pebbletech pool & spa, built in BBQ, grassy play area and huge covered patio. Inside find soaring vaulted ceilings and a gourmet kitchen with granite counters, cherry cabinets built in fridge, gas cook top, double ovens & huge island over looking family room with gas fireplace. Master plus den & 2 full baths down, upstairs find 3 more beds, bonus/play room, large loft, deck over looking valley. Your client will love this home, lot, yard & community.

GREAT New Listing In Mesa Brought To You By The CameronTeam!!!

2009-03-30T16:41:00.002-07:00

WOW!!! This amazing custom estate is truly one-of-a-kind, and is located on an acre estate in gated community with magnificent mountain views. Features include; upgraded custom cabinets, granite countertops, top of the line appliances & gas range, travertine flooring throughout with detailed faux painting and stone work throughout the home. Every bedroom has its on private balcony and bathroom! HUGE private patio. A great private location close to the 202 and 60. This one is definitely a must see!All offers are subject to IndyMac Banks Senior management approval and any offers or counter offers by Indymac bank are not binding unless the entire agreement is ratified by all parties. Any cash offers, must include proof of funds & buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE.

March 25th Market update for Phoenix metro!

2009-03-25T10:15:00.000-07:00

www.tokbox.com

PHOENIX NEIGHBORHOOD STABILIZATION PROGRAM

2009-03-19T11:44:00.002-07:00

DO YOU QUALIFY FOR MONEY FROM THE CITY OF PHOENIX TO PURCHASE A HOME???? There are a lot of stimulus programs out there to assist buyers today. Below is information on Phoenix's plan. Let me know if you have questions. There is also Bond money available, I posted that information on a previous post.

Phoenix Neighborhood Stabilization Program (NSP)

The City of Phoenix will receive $39.4 million in Neighborhood Stabilization Program Funds (NSP) resulting from the Housing and Economic Recovery Act of 2008 (HERA). The funding will be used to implement a Neighborhood Stabilization Program to address abandoned and foreclosed properties through acquisition, rehabilitation, demolition, redevelopment and financial incentives.

The proposed Phoenix Neighborhood Stabilization Program, Substantial Amendment to the US Department of Housing and Urban Development Consolidated Plan and 2008 Annual Action Plan is available through the links below.
http://phoenix.gov/nsd/nspa.html

Weekly Video Update!

2009-03-18T09:53:00.001-07:00

www.tokbox.com

The Cameron Team Just Listed A Great Home On Tatum & Bell!!

2009-03-18T09:46:00.004-07:00

Beautiful home well cared for located on a hard to find cul de sac lot! Priced only $95K less then the same floor plan a few doors down. Realistic seller priced for today's market. Nice yard with several fruit trees, full length covered patio and easy to care for desert landscaping. Recently the owner has replaced the water heater, quiet garage door opener and faucets in both bathrooms/kitchen have been replaced.

HOME CONSTRUCTION JUMPS 22%

2009-03-17T07:35:00.002-07:00

This is just the beginning, and let me be clear this is not over. It will still take a while for the economy to turn around. However, this started in housing in 2006 as inventory swelled. It took till after the election for any one to admit there was a recession. Now, with home sales double a year ago and at ALL TIME HIGHS here in the metro Phoenix area, it is the beginning of the end of the recession!

Do you want to wait 2 or 3 years to see homes prices jump before buying? If you can afford to buy a home, now is the time to take advantage of this market.
www.ArizonaBankDeals.com

Just my opinion...Jeff Cameron

METRO PHOENIX WEEKLY SALES RESULTS MARCH 17, 2009

2009-03-17T05:46:00.002-07:00

Good Morning Arizona, sales continued at a brisk rate last week. We did not beat the shocking number of 2,034 that happened 2 weeks ago, but a strong showing with 1,901 sales. Remember those are Single Family Homes, SFH, that went under contract last week. That is an incredible number and now that we have posted 4 straight weeks with outstanding sales, it is time to declare a trend and not an outlier. Let's get to the rest of the numbers. Available SFH dropped to 39,339 and Pending hit a record high of 11, 418. For the closings year to date, we have 11,699.
As I stated before, these high sales are no big deal if they are a one hit wonder. However, now that this trend is staying consistent we can begin to forecast sales for the year. Based on the closings for January and February, which does not include these huge numbers of the past 4 weeks, we are on track to close 70,000 single family homes. That would be our 3rd best year for SFH home sales to 2004 and 2005. This housing recovery is underway. It is time to be in on it and take advantage of these low prices!

Remember, see those foreclosure homes before most brokers at www.ArizonaBankDeals.com
and
for those in trouble by this market, know your rights www.NoForeclosureAZ.com

Have a wonderful Day!

Just my opinion...Jeff Cameron

LOAN MODIFICATION PROGRAM COUNTRYWIDE (BANK OF AMERICA)

2009-03-17T05:22:00.002-07:00

When in trouble with your mortgage payments the first avenue one should explore is Loan Modification. You can get a full package on Loan Modification at www.NoForeclosureAz.com Below is information about Countrywide Loan Modification programs. Please review and I hope you find this helpful!

Jeff Cameron

Countrywide Financial (Bank of America) Program
What is the Countrywide Financial (Bank of America) Program? The Homeownership Retention Program for Countrywide Customers Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principle reductions for nearly 400,000 Countrywide customers nationwide.
When does it Begin? The program begins Dec. 1, 2008, and has no end date specified.

Who is eligible? Borrowers eligible for loan modifications under this program must have received a qualifying subprime mortgage or a pay-option adjustable rate mortgage (ARM) prior to Dec. 31, 2007, and the property must be a one- to four-unit owner-occupied residential property. In addition, certain other requirements are set out in the program:
 The borrower is 60 days or more delinquent, and the current loan-to-value ratio is 75 percent or greater;
 The borrower is current today but becomes 60 days or more delinquent at any time prior to June 30, 2012, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
 The borrower has a subprime hybrid ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
 The borrower has a pay-option ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset or payment recast based on negative amortization, and the loan-to-value ratio at the time of the modification is 75 percent or greater.
 Modifications would be designed to achieve sustainable payments at a 34 percent debt-to-income (DTI) ratio of principal, interest, taxes and insurance.
In addition, customers may be eligible for the early payment default benefit of this program if: The customer has a Countrywide-originated first lien loan; the loan was funded on or prior to Dec. 31, 2007; the customer's primary residence is the property that secures the loan; the customer has made three or fewer payments over the life of the loan (the borrower's state may expand eligibility); and the customer has either lost his home to foreclosure or is at least 120 days in arrears on mortgage payments.
Who should I contact? Countrywide will begin its proactive outreach to eligible borrowers on Dec. 1, 2008. You can reach the Homeownership Retention Division at (800) 669-6650.
What costs do I have to pay?  Countrywide will waive late/delinquency fees for missed payments when modifying loans and will not charge modification fees to borrowers in the participating states.
 When possible, Countrywide will waive prepayment penalties in connection with any workout or refinance, whether or not the new loan is originated with Countrywide.
What options does the Homeownership Retention Program offer? Countrywide will first offer eligible borrowers an FHA refinance under the HOPE for Homeowners Program. If not eligible for that program, Countrywide will offer these specific programs based on product type.

Subprime 2-, 3- 5-, 7- and 10-Year Hybrid ARM borrowers will receive an unsolicited extension/restoration of the introductory rate for five years and an invitation to contact Countrywide for additional relief if affordability concerns persist. Borrowers who cannot afford the introductory rate will be considered on a streamlined basis for a five-year interest rate reduction to as low as 3.5 percent (based on the affordability equation) and a conversion to a fixed-rate mortgage at the end of five years.

Pay-option ARM borrowers accepting a streamlined loan modification option will have the negative amortization feature eliminated from their loan. The mortgage interest rate will be reduced to as low as 2.5 percent, and the loan will be converted into either a fixed-rate mortgage or a ten-year interest-only loan. For single property owners who currently have no equity in their homes, Countrywide will write-down the principal balance to as low as 95 percent of the current value of the property to restore an equity position.

Subprime Fixed-Rate borrowers will receive a streamlined loan modification, by reducing the mortgage interest rate to as low as 2.5 percent and converting the loan into a fixed-rate or 10-year interest only loan with affordable step rate increases and lifetime cap.

Foreclosure Relief Program: Countrywide will allocate up to $150 million nationally under a foreclosure relief program to provide relief for borrowers whose loans were originated directly by Countrywide (or through brokers) with owner-occupied properties who have either experienced a foreclosure sale or are 120 days or more delinquent as of the date of this agreement. These borrowers will be eligible for the payment if they made three or fewer payments over the life of the loan (or meet more inclusive criteria determined by each state). The funds will be allocated for each state through a pro-rata formula based on the number of eligible borrowers with a Countrywide-originated first mortgage.
How can I learn more about the program and start the application process?
The Homeownership Retention Program is not available until Dec. 1, 2008. Please visit the Countrywide Financial Web site for more information at http://my.countrywide.com/media/FinancialAssistance1.html

Weekly Market Update!!

2009-03-10T10:35:00.002-07:00

www.tokbox.com

ANOTHER SOURCE FOR THE MARKET STATS HERE IN METRO PHOENIX

2009-03-06T07:07:00.003-07:00

A friend of mine shared these stats from another broker in town. I wanted to post them to show a second source for the market activity. This is the same facts, res-stated showing the market is shifting from a Strong Buyers market towards neutral. As this occurs, price declines will stop and eventually price appreciation will begin again! Thank you to Karl Stauffer for his weekly market update.

Just my opinion...Jeff Cameron
Karl Stauffer's Weekly Market Update
Weekly Inventory Level Comparison
©2009 Karl Stauffer
As of Friday, February 27th, 2009.

We are starting to see some dramatic changes in our market. Available supply of Single Family Detached homes dropped below 40,000 this week to 39,828. That, coupled with 5907 closings in the previous month left the market supply at 6 3/4 months.

The last time we were below 40,000 SFD for sale was March 2007.

The last time we had over 5900 Closes was May 2007.

The last time we had over 10,000 Pendings was June 2005.

For those of you that read the papers, I will restate the above information in a more dramatic current headline format;

AVAILABLE SUPPLY OF HOMES PLUMMETS AS CLOSING RATE SOARS!

This is how the media would report it if they were interested in paying attention to some positive housing market news.

Phoenix continues to be the best market in the Vally right now at 5 1/4 months followed by the West Valley and the SE Valley at 6 and 6 1/2 months respectively.

The higher end continues to lag due to a lack of realistic financing above conforming amounts of $417,000.

The comparison of current active listing change is based on the previous week's inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.Phoenix is searched as a single entity. The West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson. NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree. SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler.

MLS Statistics
Breakdown by Area

Overall Market. Inventories are down 2% from last week. Total of 39828 active listings with 5907 closings in the last month. About an 6 3/4 month supply.

Phoenix. Inventories are down 2% from last week. Total of 9140 active listings with 1753 closings in the last month. About a 5 1/4 month supply.

West Valley. Inventories are down 3% from last week. Total of 10064 active listings with 1675 closings in the last month. About a 6 month supply.
NE Valley.
Inventories are unchanged from last week. Total of 5728 active listings with 328 closings in the last month. About a 17 1/2 month supply.SE Valley.. Inventories are down 3% from last week. Total of 9000 active listings with 1446 closings in the last month. About a 6 1/4 month supply. Scottsdale over $1m. Inventories are unchanged from last week. Total of 1497 active listings with 34 closings in the last month. About a 44 month supply.Scottsdale under $1m. Inventories are down 1% from last week. Total of 2491 active listings with 204 closes in the last month. About a 12 1/4 month supply. ParadiseValley.. Inventories are down 1% from last week. Total of 562 active listings with 15 closes in the last month. About a 37 1/2 month supply.
I hope you find this information useful.
Sincerely,
Karl Stauffer
Designated Broker
NXT Generation Real Estate
(480) 656-4441
karl@nxtgenerationrealestate.com

Arizona Housing Finance Authoirty- Down Payment Assistance Program!

2009-03-05T15:10:00.002-07:00

Down Payment Assistance Program
The major stumbling block for many first-time homebuyers is the lack of sufficient funds for the downpayment and closing costs involved in the purchase of the home. The amount of assistance available under this program is adjusted based on the homebuyer's income:
Above 80% Area Median Income (AMI): up to 5% of the purchase price or appraisal whichever is less. 60-80% AMI: up to 10% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.~Below 60% AMI: up to 15% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.
~Maximum of $20,000 in combined assistance.

If the buyer is above 80% AMI, the assistance must be used with either the MRB or MCC programs. Buyers with incomes at or below 80% AMI must participate in homeownership counseling classes. These classes or meetings are free and are held at various times and in various locations around the state, excluding Maricopa and Pima Counties.
The amount of assistance is dependent on five factors:
1) Amount of household income.
2) Purchase price of the house or appraised value, whichever is less.
3) Actual closing costs on the house.
4) Amount of household savings and assets.
5) Other gifts or assistance the buyer may be receiving.
For more information on this program please visit http://www.housingaz.com/azhfa/dpap.aspx

NEW FIRST TIME HOME BUYER TAX CREDIT

2009-03-04T11:59:00.004-07:00

I have had many calls and questions about the first time home buyer credit. This information was supplied by Jan Havill of Bank of America. Jan can be reached at 480.624.0392 Or janet.l.havill@bankofamerica.com

First‐time Homebuyer Tax Credit
Housing and Economic Recovery Act of 2008

First Time Home Buyer Credit
Amount of Credit
Ten percent of cost of home, not to exceed $8000
Eligible Property
Any single‐family residence (including condos, co‐ops) that will be used as a principal residence.
Benefits
For homes purchased in 2009, you must repay the credit only if the home ceases to be your main home within a 36-month period beginning on the purchase date.
Income Limit
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000, respectively).
First‐time Homebuyer Only
Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
Recapture
You must repay the credit ONLY if the home ceases to be your main home within the 36-month period beginning on the purchase date.
Effective Date
Purchases in the United States after January 1, 2009
Termination
December 1, 2009
Who Cannot Claim the Credit
Refer to IRS Form 5405 (revised 2-09) for exclusions.

“2009 is the Year of Recovery…..One Home at a Time!”
14648 N. SCOTTSDALE RD. SUITE 250 SCOTTSDALE, AZ 85254 480-624-0392
janet.l.havill@bankofamerica.com

March Madness Report!

2009-03-03T15:25:00.003-07:00

Here is the March Madness Report!

www.tokbox.com

March Madness Real Estate Report!

2009-03-03T15:13:00.003-07:00

Its March Madness and believe me the real estate market is MAD. Welcome and thank you for viewing my The Monthly Real Estate update by me Jeff Cameron of Keller Williams.

What is happening. I will tell you it is crazy. I have never seen it busier! So let's get to the numbers.

1. SFH sales for last week crossed the 2,000 mark with 2,034 sales recorded in the MLS. Let me explain and give you perspective to these numbers. They are taken from ARMLS, the multiple listing service for the Metro Phoenix area. I take a reading every Monday and check the activity for the week.
Last weeks sales of 2,034 are the highest I have recorded. For example, this week last year was 1,007. We have doubled the sales from last year. In 2007 it was 1,186, remember this was right before the Sub Prime bank crash. In 2006 we recorded 1,356. I was not recording back in early 2005 or before. But these are exciting numbers.

2. February Home Closings. In February we closed on 4,817 single family homes. This is the 3rd highest level of closings for a February ever, with 2004 and 2005 above. And remember this is follow by January's adjusted 4,273 home closings; the second highest ever, second to January 2005.

3. Pending Home Sales. There are now over 10,000 homes Pending here in the Metro Phoenix area. These are homes that are under contract and most will close in the next 30 days. This is the highest I have recorded. For example, for all of last year there were only 3 weeks that I recorded Pending home sales in the 8,000's. Also, the absorption rate as measured by Pending home sales has dipped below 4 months at 3.9 months of inventory based on Pending homes. Great number.

4. Inventory level. As of this morning, there were 39,802 single family homes showing for sale in the ARMLS system. This is the lowest since February of 2007, prior to Sub Prime I when the banks started disclosing their troubles and eliminated the Sub Prime mortgages, thus making lending less available. Remember, after Sub Prime I, sales of single family homes plunged over 35%.

These numbers are fantastic. This whole problem is about supply and demand. High supply of homes, low supply of buyers and loans. We are seeing the shift in home supply, going down. We are seeing the shift in buyer demand, increasing. We are seeing the increases in availability of mortgages. All of this points to a bottom in the real estate market here in metro Phoenix. The bottom will occur at different times in each sub market here in the valley.

So, there you have the monthly market update. Remember I will record the numbers weekly on my blog at thecameronteam.com and then email each monthly report. If you have any questions, please call me for a personal review of your market.

Thank you all again for your referrals, Please keep sending them. Also, I know some of your are hurting in this market or have friends that hurting. We have set up a website to get YOUR questions answered about Loan Modifications, Short Sales and we can even get an attorney to answer legal questions for our clients for FREE. This is all available through the web site www.NoForeclosureAZ.com This site is private and confidential. Please use it or pass it on to someone that may be in need of answers for today's issues.

For those in a position to take advantage of this market, first time home buyers, Investors, or even those move up buyers, we have great connections with banks for Foreclosure homes. You can see the bank deals before most agents and brokers at www.ArizonaBankDeals.com

Thanks for your time and have a wonderful day.

INVENTORY OF SINGLE FAMILY HOMES IN PHOENIX DROPS BELOW 40,000

2009-03-02T06:47:00.003-07:00

For the first time since March of 2007, inventory levels are below 40,000 here in the metro Phoenix area. This morning there are 39,969 single family homes for sale in the Metro Phoenix area as measured in ARMLS.
Inventory levels continue to decline as sales surge. Sales of single family homes in the metro Phoenix area have jumped to over 1,800 sales for last week. How high is that? From March of 2005 through June of 2005; 1800 to 1900 single family homes closed escrow on average per week. WE ARE BACK TO HOME SALE LEVELS OF 2005!
The end of the housing decline is near. You will only know it is over when you see it in the rear view mirror. I sold another listing yesterday for FULL price as buyers fought for the home. The home had been on the market for 3 months!

Just my opinion...Jeff Cameron

OUR BLOG CROSSES THE 10,000 VIEWS MARK

2009-03-01T08:35:00.002-07:00

We set our blog up about 18 months ago to make it easier to communicate with our friends, family, clients and the public. Today we crossed the 10,000 views mark. Over 10,000 times people have gone to our blog for information. That is awesome. Thank you and keep coming. Oh, by the way, we didn't set the counter until about 3 or 4 months into blogging!

SURGING HOME SALES IN METRO PHOENIX, FEB NUMBERS ARE OUT

2009-03-01T08:20:00.002-07:00

SURGING HOME SALES IN METRO PHOENIX, FEB NUMBERS ARE OUT

Here we are the first of March. The market is on FIRE. That does not mean prices are firming or going up, but bottoms are on the horizon in many areas. The last couple of weeks have seen the banks ease lending requirements: FNMAE increases investor loan limits from 4 to 10; FHA increases loan limit from $246K to $346K; FNMAE stopping lenders from negotiating Realtor commissions below 6% on Short Sales.

These actions are just taking place and have not affected the market yet. However, weekly home sales for past couple of weeks are at 4 year highs. Homes under contract, the Pending homes, reached over 10,000 last week for the first time in 4 years. Only 6 weeks in 2006 through 2008 recorded levels over 8,000 homes Pending.

January had the second highest level of home sales recorded for the month, second only to 2005; even after being adjusted down. Now the numbers are out for February. Preliminary numbers show 4,817 single family homes closing in February, 2009. See the Chart below. You can click on the chart to make it larger. Last months single family home sales were the 3rd highest ever recorded, 3rd to February 2004 and February 2005.

If you are looking for a sign to enter this market, it won't get any clearer than this!

A New Cameron Team Listing in Glendale!!! A MUST SEE!!!

2009-02-27T13:54:00.002-07:00

NOT A SHORT SALE OR REO! HARD TO FIND OWNER WITH EQUITY,PRICED TO TODAY'S MARKET!!! Wonderful 4 bed 3 full bath family home, 4th bed used as den. Brisas floor plan. 12' tile in all the right places, built- in entertainment center, and surround sound. Kitchen has Maple cabinets and an island. Home has a Big covered patio with saltillo tile on extended patio. Nice landscape in the backyard along with a built in BBQ. Great location in a Cul De Sac with north/south exposure and a park at the end of the cul de sac. Great location!!!

Wonderful Home in Peoria Just Listed By The Cameron Team!

2009-02-27T10:35:00.001-07:00

Beautiful 3 bed 2.5 bath in Peoria. Home is very clean, well maintained and in Great condition, ready to be claimed! Kitchen has stainless steele appliance and a breakfast bar. Wonderful master bedroom with bathroom having separate shower and tub. Backyard with beautiful plants with sandbox play area that the kids will love.

HOME BUYER TAX CREDIT RVISED

2009-02-26T10:02:00.003-07:00

The good news keeps rolling in. January was the 2nd best for single family home closings ever; Pending home sales is over 10,300 here in the valley; Fannie Mae has changed from limiting investors to 4 total mortgages to now they can get up to 10 total mortgages; FHA loan limits were raised from around $250K to around $350K; and finally this tax CREDIT for $8,000!

Just my Opinion...Jeff Cameron

HOME BUYER TAX CREDIT REVISED:

$8,000 TAX CREDIT TO TAKE EFFECT WITH NEW BILL

After debate over the final dollar amount, the new economic stimulus bill awaiting President Obama's signature on Tuesday will contain an $8,000 tax credit. First-time buyers can claim the credit worth $8,000 or 10% of the home's value, whichever is less either on their 2008 or 2009 taxes.

This credit will be refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of withholding they paid during the year plus anything extra they had to pay when they filed their returns - was less than that amount.

To qualify for the credit, potential home owners must have purchased January 1, 2009 or later and will have up until November 30, 2009 to close on their new home. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.

Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. Although higher-income buyers may receive a partial credit.

In addition, applying for the credit will be easy as home buyer will be able to just claim it on their return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.

This new plan improves on the current $7,500 tax credit, which was passed in July and was more of an interest free loan than an actual credit. But it did not go as far as a proposed a $15,000 non-refundable credit for all homebuyers.

According to the National Association of Realtors, the $8,000 credit will bring an additional 300,000 new homebuyers into the market between now and its expiration on November 30, 2009 which should somewhat improve the housing market.

In addition, a carryover effect may occur because each first-time homebuyer sale will lead to two more trade-up transactions down the line. As it will allow more existing sellers to sell their homes to potential first time buyers. The true impact is yet to be determined, but the credit is a step in the right direction to help further stimulate the housing market.

NEW HIGHER FHA LIMITS FOR MARICOPA COUNTY, $345,250

2009-02-25T12:59:00.003-07:00

This is awesome news. FHA has raised the loan limit for Maricopa county to $346,250 from the previous level around $250K. That means buyers can purchase up to $355,000 and only put 3% down. These are signs of the market turning. Another one was 2 weeks ago when Fannie Mae increased the amount of loans an investor can have from 4 to 10. Money is becoming more available as risk is removed from the market. Last week we had the highest level of homes sales since 2005, nearly 4 years ago.

Just my opinion...Jeff Cameron

FHA Mortgage Limits List - FHA Forward

Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED
Mortgage maximums as of Wednesday February 25, 2009
MSA Name MSA Code Division County Name County
Code State One-Family
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) 38060 MARICOPA 013 AZ $346,250 01/01/2009

NEW Weekly Video Update From Jeff Cameron!

2009-02-24T10:02:00.001-07:00

We are getting a lot of calls from people asking about the real estate market. Since the news is unable to report good news, I will. This is the first of weekly market reports for the Metro Phoenix area. Please don't hesitate to send me questions or call.

www.tokbox.com

The Mortgage Debt Relief Act of 2007

2009-02-23T20:01:00.002-07:00

I have had many questions about mortgage forgiveness and debt relief. Below is an explanation of the Mortgage Debt Relief Act of 2007. The law was extended through 2012 to help get us through this tough time.

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17.

A Great BANK OWNED Home Just Listed By The Cameron Team!!

2009-02-23T14:10:00.001-07:00

4 Bdrm/3 bath Beauty FULL of Upgrades. Oversized lot with Pool, Sky Tubes in Master Bdrm, Master walkin closet, Hall Bath, and Laundry room. Low ''E'' Windows for energy efficiency, 18' Premium in all the right places, cedar oak cabinets, Granite countertops, and kitchen island. Bay Window in Master, 1 French Door, Wooden Blinds, Garden Tub, xtra phone and cable jacks, and Programmable thermostat. A MUST SEE!

Deficiency and Non-Deficiency loans in Arizona

2009-02-23T09:34:00.003-07:00

Please contact your tax advisor and attorney to judge your specific situation!

A deficiency on a purchase money mortgage is not allowed on residential property if a single one-family or single two-family dwelling that is on 2.5 acres or less. See Section 33-814.

McDowell Mountain Ranch Property for SALE OR RENT Just Reduced In Price!

2009-02-20T10:20:00.003-07:00

Location, Condition, Upgrades & Amenities ~ This House Has It All And Is Totally Turn Key! Over 1/4 Acre Cul-De-Sac Lot. Inside: Split Master, 3 Bdrm + Den w/ Blt-Ins. Gourmet Kitchen Offers Double Ovens, Granite Counters, Raised Panel Maple Cabinets, Blt-In Micro & R/O Water. Great Kitchen Overlooks Family Room Offering Blt In Ent. System, Gas Fireplace & Surround Sound. Resort Like Yard Offers Both A Grassy Play Area And Fenced Pebble Tech Play Pool & Spa. Yard Enhanced w/Built In BBQ, Automatic Awning & Waterfall. Plus Use The Pool All Year With Gas Or Solar Heater. Don't Forget The 3 Car Garage w/ Epoxy Floor & Cabinets. Plantation Shutters, 18' Stone Like Tile, Classy Closets and Soft Water System!

Info on The Homeowner Affordability and Stability Plan

2009-02-19T14:05:00.004-07:00

Let's hope the new government bailout plan for real estate market actually helps, most of what the government has done has not helped. I think there are a few basic steps that would help:

1. Get short sales approved or rejected in 21 days or less. Right now we have gotten approval on 90% of our short sales, but it takes 90 days or more. Most of the time the buyer has already bought another home by the time the approval comes.
2. Use the Tarp money to buy "toxic" notes on the secondary market, at market value. Sort them, sell the good ones, do loan modifications on the bad ones, keep owners as tenants in others, sell pools of "to be foreclosed" for market value. GET THE TARP FUNDS BACK WITH A PROFIT!
3. Actually if 1 and 2 are done right, that is all it will take. Since demand on the "toxic" notes will free up the credit crunch, then money will be available for business again. Plus, this would cause interest rates to go down.
Approving the Short Sales would make inventory turn more quickly creating buy signs in statistics of the market. Lower interest rates, quick responses on short sales and a large amount of loan modifications or owner tenants would increase demand and lower supply at the same time. If that happens, we run out of houses and have to build again. If we start building again, then people will get hired to do the building, supply the goods and we would need to fill those new homes with new furniture, lights, plumbing fixtures etc...
Barack are you listening to me??? This is easier than everyone thinks! Just Do It!

Just my opinion...Jeff Cameron
Below is information about the new housing bailout

The Homeowner Affordability and Stability Plan, includes both a modification program for at-risk borrowers and refinance initiative for Fannie Mae and Freddie Mac borrowers who are current on their mortgage payments.
The program is categorized into 3 parts and is a combination of refinancing those borrowers who are current but not able to refinance because of falling home prices, more aggressive modification program policies for those who need assistance and can’t afford their current loans but want to stay in their homes, and added assistance to keep long term interest rates low through building confidence in the GSE’s (Fannie Mae/Freddie Mac).
Homeowner Affordability and Stability Plan
1. Refinancing for Responsible Homeowners Suffering From Falling Home Prices
2. A Comprehensive $75 Billion Homeowner Stability Initiative which includes…
· A Loan Modification Plan To Reach 3 to 4 Million Homeowners
o Shared Effort with Lenders to Reduce Interest Payments
o Incentives to Servicers and Borrowers
· Clear and Consistent Guidelines for Loan Modifications
· Required Participation By Financial Stability Plan Participants
· Modifications of Home Mortgages During Bankruptcy
· Strengthen Hope for Homeowners and Other FHA Loan Programs
· Support Local Communities and Help Displaced Renters
3. Support Low Mortgage Rates by Strengthening Confidence in Fannie Mae and Freddie Mac

WE DO THIS TOGETHER!

2009-02-19T13:51:00.003-07:00

We had our picture done with our Cardinals jerseys and borrowed their theme!

North Scottsdale LUXURY Home Just Listed By The Cameron Team!

2009-02-18T13:54:00.004-07:00

Ones loss can be anothers gain, this Fantastic Tuscan home sits on 1.3 acres of land and is wonderfully appointed to view the McDowell Mountains to the East. All the luxuries are here: tumbled travertine floors, Dramatic glass and iron entry, vaulted ceilings with wood beams, Custom Cabinetry, and interior courtyard bringing natural light throughout the home. Brilliant design to this custom home. Playroom is set for surround, pool table and room for a large bar. Huge veranda connects the main house to the guest house and Pool/workout room. Appliances and some finishes are needed to complete your dream home.

New Bank Owned Listing of a WONDERFUL Patio Home Brought to you by The Cameron Team

2009-02-18T10:30:00.003-07:00

2 Bedroom, 2 Bathroom Patio Home in Wonderful Community! Home is Bright and open with an easily maintained yard. Fantastically priced Bank Owned property with easy access to the I-10. Located in the Heart of Ahwatukee and close to Everthing! Home is bright and open with an easily maintained yard.

NFL PROBOWL

2009-02-17T13:34:00.005-07:00

The Super Bowel was great but did not have the ending I felt we deserved! The Cardinals had a huge presence at the Pro bowl In Honolulu. Larry Fitzgerald was fantastic and won the MVP; Kurt Warner's time was short but successful, wide receiver Anquan Boldin, Strong Safety Adrian Wilson, and Special Teamer Sean Morey also represented the Cardinals at the Pro Bowl this year. Let's hope they are all Cardinals next season!
Click here and Check out the rest of the article!

FANNIE MAE RELAXES INVESTOR REQUIREMENTS, INVESTORS CAN NOW GET UPTO 10 MORTGAGES

2009-02-16T09:27:00.002-07:00

The signs are a changing. Instead of making it harder to get a loan, we are seeing just the opposite begin. One of the first steps happened last week. Previously, Fannie Mae had changed the rules for investors. They would not give a loan to anyone with 4 or more existing loans. That does not make sense, what is smart is to give loans to truly qualified individuals. That was the change last week. Now, an investor can have up to 10 loans with Fannie Mae! This is AWESOME! WE NEED the Investors back in the market. The previous rules forced most investors to pay cash, because they already had 4 or more loans.
Maybe this is why today's reading on Pending home sales here in the valley is 9,342. I have not seen Pending home sales here in metro Phoenix over 8,300 since 2005. Last week we sold over 1,400 homes. Again this level of home sales has not been seen for over 3 years!
Just my opinion...Jeff Cameron
Below is the press release from Fannie Mae:
In Announcement 09-02 Fannie Mae stated, “(We) are committed to providing financing opportunities for high-credit quality, bona fide investors. Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation’s housing system. Fannie Mae is modifying out current policy to allow investor and second home borrowers to own five to ten financed properties if they meet certain eligibility and underwriting and delivery requirements.”

Please be aware, that many lenders have not yet made the announcement as to when they will begin to purchase these loans. This coupled with the possibility of additional tax credits to all home buyers in the Senate version of the Stimulus bill, however could mean big news to the real estate market.

Eligibility Requirements
Eligibility Requirements: If Borrower owns Five to Ten Financed Properties

If the Property is a Second Home or Investment Property 1-Unit
Purchase Max LTV/CLTV 75/75% Minimum Credit Score 720
Limited Cash-Out Refinance Max LTV/CLTV 70/70% Minimum Credit Score 720
Investment Property 2-4 Unit
Purchase and Limited Cash-Out Refinance Max LTV/CLTV 70/70% Minimum Credit Score 720

Underwriting and Delivery Requirements
● The borrower cannot have any history of bankruptcy or foreclosure within the past seven years.
● The borrower cannot have any delinquencies (30-day or greater) within the past 12 months on any mortgage loans.
● Rental income on the subject investment property must be fully documented according to the Fannie Mae Guidelines: Rental Income.
Rental income from other properties owned by the borrower must be supported by two years’ federal income tax returns. Any streamlined documentation requirements must be disregarded and full documentation MUST be obtained.
● The borrower must complete and sign Form 4506 Request for Copy of Tax Return or 4506-T Request for Transcript of Tax Return granting the lender permission to request copies of federal income tax returns directly from the IRS. The lender must obtain the IRS copies of the returns or the transcript and validate the accuracy of the tax returns provided by the borrower prior to the loan closing.
● The borrower must have reserves for the subject property and for other properties currently owned by the borrower (i.e., other financed second home and investment properties) in accordance with the guidelines discussed below
● DU Refi Plus loans are exempt from the new requirements.

New Reserve Requirements
Fannie Mae is implementing new reserve requirements that apply to all second home transactions and to investor and second home borrowers that own or have an interest in multiple financed properties. The amount of required reserves varies depending on whether the subject property is a second home or investment property, and on the number of other financed properties the borrower currently owns.

The reserve requirements are as follows:
When the borrower will own one to four financed properties (including the subject property) the reserve requirements are as follows:
● 2 months of reserves on the subject property if it is a second home
● 6 months of reserves on the subject property if it is an investment property, and 2 months of reserves on each other financed second home or investment property.
When the borrower will own five to ten financed properties (including the subject property) the reserve requirements are as follows:
● 2 months of reserves on the subject property if it is a second home
● 6 months of reserves on the subject property if it is an investment property, and 6 months of reserves on each other financed second home or investment property.

Home in the HEART of everything just REDUCED in Price. Get this Cameron Team listed home now!

2009-02-11T11:38:00.003-07:00

***Great new price 2/11/09***Fantastic patio home in the heart of everything...just minutes from the 51 and downtown, PV mall, Desert Ridge and Kierland! Perfect location in the middle of the community, out the back gate and the community pool feels like a private pool. Split floor plan 2 bedroom and 2 bath. Recently replaced the appliances and all new A/C system 2/08 $3,600. In 2001 both baths were remodeled and the master is handicap accessible. New dual pane doors and windows in 2005, over $8K invested. Cute patio with tile floor, fun for these beautiful days! Ceiling fans in both beds and great room.

Wonderful Home with HUGE MAN SIZED GARAGE just reduced in price!! Get it before it goes!

2009-02-11T11:36:00.002-07:00

Wow, what a beautiful home on 1+ acre lot in New River with mountain views in every direction! Fantastic Great room floor plan! This home is full of upgrades from chiseled edge granite countertops, huge breakfast bar, 20' faux travertine, custom knotty alder cabinets and 8' interior doors, plantation shutters throughout, stainless appliances, ceiling fans in every room, 10' ceilings, jacuzzi tub and large walk in closet in the master plus top notch construction quality with extra insulation t/o. Including 14 & 16 seer A/C, Low E windows, roof has 90 lb rolled underlay and the entire home is over engineered. But WAIT, Looking for RV garage, Shop, Home office, or even Guest house? The owner built a fantastic 58 x 40 Super Garage. It has a 14 ft insulated door and was built with Full Sheer.

Wonderful Piece of Porperty in Scottsdale Reduced in Price!! Get It before Its gone!

2009-02-10T09:09:00.003-07:00

Beautiful level lot in the heart of Scottsdale. Priced to sell below what I paid for it in January. Change of plans forces this great buy. Over an Acre and in Scottsdale with Mountain views, you will love this lot. Some engineering work done. Call for details. Seller is a licensed Realtor.***************SHORT SALE************* GREAT OPPORTUNITY! Different kind of Short Sale, we are carrying a note for the shortage. Should be quicker

JANUARY SFH CLOSINGS PAST 9 YEARS PHOENIX METRO

2009-02-10T07:01:00.004-07:00

(You can click to graph to make it larger)
Wow, I was shocked to see this! Home closings in January are the 2nd highest every! Are you looking for a sign to buy NOW! Remember a bottom can only be seen in the rear view mirror!

Search all foreclosure listings even before most Brokers:
http://www.arizonabankdeals.com/

Just my opinion...Jeff Cameron

SUPER BOWL PICS

2009-02-06T14:05:00.003-07:00

I survived the Super Bowl!

We had a blast, it was too bad my team lost. They showed up and contended with the best of the best. It really came down to one play. That is the play the Steelers made to win and the play the Cardinals failed on. They really had a chance and this year the difference between the winner and the looser was the slimmest of margins.

My heart reaches out to John and Lori Antol, they treated me to this sports expedition. THANKS SO MUCH JOHN AND LORI! This I will remember forever! Let's hope we do it again and win!

I met Ricardo at the Pre-game party. He came from Monterey, Mexico.

The food was fantastic, this is one of 4 different food stations. Then was 3 of each. Never a line.

Before the game walking in. We were ready to "Shock the World."

John, Jay and Shane, walking into the game.

Jeff, Lori and Mindy out to Dinner on Saturday before the game.

John, Lori and Mindy. Out to dinner Saturday night before the Super Bowl.

Jeff, John and Blair. Out to dinner that same night.

Saturday afternoon. We went to the stadium to check out different seat selections.

The workers are painting the lettering on the field Saturday before the game. See each seat has the Super Bowl seat cushion.

NFL experience Friday before the game.

What a STEAL!!! This 2 Million Dollar home listed for WAY less!!

2009-02-05T14:12:00.004-07:00

Beautiful private retreat located inEl Chorro Estates in the heart of Paradise Valley. Privately gated w/circular drive this home sits on 1.45 acres of land! With 5 bedrooms, 5.5 baths, bonus room & huge formal living room, this home is very spacious. You will find all the expected finishing touches: granite slab, 18'' travertine floors, coffered ceilings, custom cabinetry and built-in fridge w/wood panels. Huge family room with open kitchen, wet bar & built-in entertainment center, of course, there is surround sound & speakers throughout the home. Gourmet kitchen offers gas cooking, vegetable sink, big island and breakfast bar! Outside there is room to roam. Beautiful pebble tech pool & spa are heated for year round use. Lush tropical landscape, in the shadow of Camelback Mountain.

4300 VALLEY HOME CLOSINGS IN JANUARY

2009-02-04T16:33:00.002-07:00

I know the press is all about gloom and doom, I have some good news for you. December was a blow out December creating 4,300 single family home sales in January. What does this mean? We need to compare it to previous years to see the significance. Well in January of 2001, we closed escrow on 2,992 single family homes. In January of 2002, we closed escrow on 3,260 single family homes. In January of 2003, we closed escrow on 3,837 single family homes. In January of 2004, we closed escrow on 4,116 single family homes. Then, in January of 2005, we closed escrow on 5,343 single family homes. 2005 was the blow out year for the holiday season. By January 2006, we declined to 4,185 and then 2007 was 3,509. The worst year in the past nine years was last year, in January 2008 we only closed 2,351 single family homes. Now after reviewing the facts, 4,300 sales looks pretty AWESOME!

just my opinion...Jeff Cameron

Just REDUCED In Price!! Great Home in Laveen!

2009-01-29T14:20:00.002-07:00

Wow, what a beautiful home for a great price! Be patient and steal this home from the bank! This home is located in gated community w/one of the largest lots available, has 4 bedrooms and 3 baths with 4 bedroom having full bath and walk-in closet perfect for guest or in-laws, 16' tile in all main areas w/carpet in bedrooms, staggered kitchen cabinets w/crown molding, fireplace w/entertainment niche in living room, ceiling fans, covered patio out back and so much more! All lighting in dining, kitchen and hall have been upgraded. Your buyers will love this home!

Road To The SUPER BOWL

2009-01-27T12:31:00.006-07:00

Here are a few pictures from the road to the Super Bowl!

Jeff Cameron and Greg Tucek.

"Do what, OK, how does that look." Boys will do what ever they are told.

Jeff and Lisa Cameron walking from Westgate to the Cardinals vs. Atlanta.

Jeff Cameron, being photographed by the Arizona Republic at the NFC Championship game against the Eagles.

Jeff and Carter Cameron, goofing around at the game.

Great Home In Surprise Just Reduced In Price For A Quick Sale!

2009-01-27T09:31:00.004-07:00

Beautiful newer home at a great short sale price! This home is located on one of the largest lots in the subdivision. Upgrades galore, including: 9,150 sf lot, Huge family room, Maple Cabinets, Stainless Steel appliances, 18 inch tile floors and upgraded carpeting. Fully landscaped front and back yard. Master bedroom with double door entry, walk in closet, separate tub and shower, and dual sinks! 3 Car Garage. Seller has never occupied this home! BRING AN OFFER and for just a little patience you will get your dream home for a steal!

DOWN PAYMENT ASSISTANCE REINSTATEMENT

2009-01-27T06:12:00.002-07:00

There was a lot of political finger pointing last summer as the housing crisis deepened. As usual, when the government moved to help the situation they made it worse. In order to pass one of the laws last summer for the bailout, not the $700 billion, there was a concession thrown in. That concession was the elimination of the Down Payment Assistance program.
In my humble opinion, that was a huge mistake. Many pointed to those who had no money invested, as the first to walk away from homes. Being in the trenches, I saw investors that bought 10 homes without the ability to handle one of them being vacant as the first to walk. Does it really make a difference for a home owner if they invested $10K for down payment on a $275K home, when the home is now worth $140K?????
Right now home values are so low in low income areas. This is the time when wealth is created. People with good credit, could buy a home for $60K right now in parts of Phoenix. Their payment would be lower than the rent they pay. We need those buyers today! Who else will buy? The "new" rules make it difficult for investors to buy without paying CASH. Yes, they are buying. I just did a report for a bank on a home in Phoenix, over 60% of the sales are cash. But those investors will only buy at ridiculously low levels, driving our market further down. Furthermore, many of these homes need carpet, paint and appliances. Today's home buyers need cash to repair their new home. The last DPA I personally did was a situation where they had the cash, they wanted to use the money to fix up their new home. It worked perfectly!
HELP OUT NOW, TAKE THE POLITICS OUT AND SUPPORT DPA, DOWN PAYMENT ASSISTANCE. It does affect your home's value and your world. Be part of the solution and stop pointing fingers!

Just MY Opinion!

Jeff Cameron

Below is a copy of an open letter sent to President Obama seeking his support of H.R. 600, the FHA Downpayment Reform Act, recently introduced by Congressman Al Green (D-TX) with bi-partisan support of Representatives Maxine Waters (D-CA) and Gary Miller (R-CA).

January 26, 2009
President Barack Obama
The White House
1600 Pennsylvania Avenue, NW
Washington, D.C. 20006

Dear Mr. President,
Congratulations on your historic inauguration. Your swearing-in was a defining moment in American history – a moment when our nation lived up to its creed that all men are created equal. We wish you and Congress well in these challenging times.
You are aware of the troubles we face in our economy, particularly our housing market. New homebuyers have vanished. Housing starts are at their lowest level in a half century. More than 2.3 million homes stand vacant in our communities. The loss of homebuyers is weighing down the broader economy, hurting home good stores, mom and pop shops, builders, construction companies, and local governments, all of whom depend on a stable housing economy for revenue. Economists across the political spectrum agree: the housing market lies at the root of our economic challenges.
So what can we do? To stabilize the housing market, we are proposing common sense solutions that will educate homebuyers and will give credit-ready homebuyers an opportunity for affordable homeownership and incentivize them to enter the market. We hope you will join us.
You stated in December that, “we need to move past the stale arguments that say low-income Americans shouldn’t even try to own a home.”
We agree, Mr. President. And we are ready to help. At a time when most are proposing solutions that cost the taxpayer money, we are supporting no cost bipartisan legislation in Congress (H.R. 600) to reauthorize and reform downpayment assistance programs funded in part by sellers, also known as DPA, which expired under federal law last year. DPA funding from qualified non-profits helped more than one million creditworthy families and individuals become homeowners from 1998 to 2008, and generated $24 billion in economic activity in just a five year period alone, according to a 2007 study by George Mason University’s Center for Regional Analysis. Further, according to a soon to be released study by Dr. Robert Fountain at California State University, DPA was responsible for creating 235,000 jobs over the past decade and during the twelve months preceding the elimination of DPA helped generate $4.6 billion in local and state tax revenue. These are dollars that state and local economies throughout America have come to rely upon. If this program remains closed, however, more than 300,000 aspiring homeowners – each of whom is deemed creditworthy by the Federal Housing Administration - will be shut out of the home buying process annually and billions of dollars and thousands of jobs will remain out of reach for our local communities. Our economy simply cannot afford this. We respectfully urge you to support H.R. 600, The FHA Downpayment Reform Act.
You stated in your inauguration that we must “ end to the petty grievances and false promises, the recriminations and worn-out dogmas that for far too long have strangled our politics.”
We agree, Mr. President. And we are ready to help. We hope to join hands with your Administration and Congress to find bipartisan support for the policies that will shape our housing market in the future. The past is the past, some people will remain critics of the DPA program and not move past stale arguments that no longer apply; what matters now is our shared pursuit of a more stable economy based on long-term, sustainable homeownership.
You stated in your campaign that we must not repeat “ the cycle of bubble and bust” that has plagued our economy.
We agree, Mr. President. And we are ready to help. To accomplish such sustainable and responsible homeownership, AmeriDream has educated more than 60,000 potential homebuyers over the last decade and will redouble its education efforts in the coming decade. Studies show that homebuyer education programs lead to more successful homeownership. Further, we believe in FHA’s goal to provide safe, sanitary and affordable housing for low and moderate income families. We believe that if more homebuyers of yesterday chose a FHA insured loan, our country would be better off today. We support a suggestion that you made in 2007 to develop a Home Score system, a system to create a simplified, standardized metric for home mortgage allowing prospective homebuyers to easily compare various mortgage opportunities so that an educated and informed homebuyer can make an educated and informed decision. The more successful our homeowners are, the less likely our economy is to be felled by another housing bubble.
Mr. President, we respectfully ask for your support. We encourage you to back H.R. 600, The FHA Downpayment Reform Act, so that creditworthy working class homebuyers may once again stimulate the housing market. The reauthorization of DPA is supported by the Congressional Black Caucus, the Congressional Hispanic Caucus, the National Association of Realtors, The National Association of Mortgage Brokers, the US Conference of Mayors, the National Association of Home Builders, an affiliate of the AFL-CIO - the Labor Council for Latin American Advancement, the National Association of Counties, many other state and local organizations and hundreds of thousands of other Americans who have voiced their support to their elected officials. We urge you to make homebuyer education a central part of you economic recovery strategy. Finally, we welcome your commitment to make petty grievances in our government a part of our past. Simply put, our country can afford no less.
We look forward to working with your administration as we pick ourselves up, dust ourselves off and get back to making responsible and sustainable homeownership for all a priority.
Best wishes to you, your family, and your Administration in these historic times.
Sincerely,
Ann AshburnPresident
BACKGROUND: AmeriDream, a 501(c)(3) charity, was established in 1999 to provide housing-related programs to low and moderate income individuals and families. Our mission is to permit qualified aspiring homeowners, a disproportionate number of whom are first-time homebuyers, minorities, legal immigrants, women headed households, and single-parents, achieve and sustain homeownership. Most significantly, AmeriDream has provided critical down payment assistance to over 250,000 low and moderate income homebuyers, enabling them to purchase their homes without using any taxpayer dollars. In addition, AmeriDream has educated over 60,000 homebuyers through our homebuyer education course; counseled and assisted approximately 1,200 people to retain their home when confronted with mortgage difficulties; and built 168 affordable housing units in our inner cities, most notably in Southeast Washington, DC. To date, AmeriDream has committed over $30 million to projects unrelated to its down payment assistance program.

Bank REDUCED Price on this Wonderful Home listed by The Cameron Team!

2009-01-26T15:42:00.001-07:00

What a great lot location in Anthem! Very private, corner lot with lots of potential. Awesome 1,638 sq.ft.floorplan with 3 bedrooms, 2 baths plus front seperate formal living/dining and family room. Very open and spacious floorplan! This home and the community offer so much for such a little purchase price! We get RESPONSES in 48-72 hour! **Buyer agrees to review & sign all bank addendums. All contracts/offers are subject to IndyMac Banks approval & any offers or counter offers by IndyMac Bank are not binding unless the entire agreement is ratified by all parties. Buyer must be approved by IndyMac lender by may use lender of choice. Any cash offers, must include proof of funds & buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE

Bank Owned Home Just Reduced In Price...You have to see this one!

2009-01-26T11:00:00.003-07:00

Bank has priced this home to sell. 4 bdrm, 3.5 bath & Granite counters priced under $200K. Home needs some TLC and appliances. However, Bank has just installed brand new carpet 1/16/09! All offers are subject to IndyMac Banks Senior management approval and any offers or counter offers by Indymac bank are not binding unless the entire agreement is ratified by all parties. Buyer to pay $75 Doc Fee at COE. Please allow 3 business days for acceptance. Sellers addendum available on line in the document section. Please put 'No SPDS and No Insurance letter' on Page 7 of the contract. Buyer must be approved by preferred lender, Prospect Mortgage Staci McCarville 480-778-2614

KURTIS THE STOCK BOY AND BRENDA THE CHECKOUT GIRL

2009-01-23T16:54:00.003-07:00

In a supermarket, Kurtis the stock boy, was busily working when a new voicecame over the loud speaker asking for a carry out at register 4. Kurtis wasalmost finished, and wanted to get some fresh air, and decided to answe r thecall. As he approached the check-out stand a distant smile caught his eye, thenew check-out girl was beautiful. She was an older woman (maybe 26, and he wasonly 22) and he fell in love.Later that day, after his shift was over, he waited by the punch clock to findout her name. She came into the break room, smiled softly at him, took her cardand punched out, then left. He looked at her card, BRENDA. He walked out onlyto see her start walking up the road. Next day, he waited outside as she leftthe supermarket, and offered her a ride home. He looked harmless enough, and sheaccepted. When he dropped her off, he asked if maybe he could see her again,outside of work. She simply said it wasn't possible.He pressed and she explained she had two children and she couldn't afford ababy-sitter, so he offered to pay for the baby-sitter. Reluctantly she acceptedhis offer for a date for the following Saturday. That Saturday night he arrivedat her door only to have her tell him that she was unable to go with him. Thebaby-sitter had called and canceled. To which Kurtis simply said, "Well,let's take the kids with us."She tried to explain that taking the children was not an option, but again nottaking no for an answer, he pressed. Finally Brenda, brought him inside to meether children. She had an older daughter who was just as cute as a bug, K urtisthought, then Brenda brought out her son, in a wheelchair. He was born aparaplegic with Down Syndrome.Kurtis asked Brenda, "I still don't understand why the kids can'tcome with us?" Brenda was amazed. Most men would run away from a womanwith two kids, especially if one had disabilities - just like her first husbandand father of her children had done. Kurtis was not ordinary - - - he had adifferent mindset.That evening Kurtis and Brenda loaded up the kids, went to dinner and themovies. When her son needed anything Kurtis would take care of him. When heneeded to use the restroom, he picked him up out of his wheelchair, took him andbrought him back. The kids loved Kurtis. At the end of the evening, Brendaknew this was the man she was going to marry and spend the rest of her lifewith.A year later, they were married and Kurtis adopted both of her children. Since then they have added two more kids.So what happened to Kurtis the stock boy and Brenda the check-out girl? Well,Mr. & Mrs. Kurt Warner now live in Arizona , where he is currently employedas the quarterback of the National Football League Arizona Cardinals and has hisCardinals in the hunt for a possible appearance in the Super Bowl. Is this asurprise ending or could you have guessed that he is not an ordinary person.It should be noted that he also quarterbacked t he Rams in Super Bowl XXXVI. He has also been the NLF's Most Valuable Player twice and the Super Bowl's Most Valuable Player.
Kurt is also an IOWA boy and from Cedar Rapids and a graduate of Northern Iowa .

GOTTA LOVE OUR CARDINALS!!! LETS HELP THEM TO WIN THAT SUPERBOWL!!!
GO CARDS!!

An investor can buy a home with 10% down!

2009-01-23T10:24:00.000-07:00

Hi. I am a preferred lender for the Fannie Mae Bank Owned Properties!It sounds too good to be true - An investor can buy a home with 10% down! No mortgage insurance required! Only 3% down required for a primary residence, with no mortgage insurance! That is better than FHA and no appraisal is required!This special financing only applies to Fannie Mae REO Properties. To search eligible properties, visit:reosearch.fanniemae.com/reosearch/

Lost Ducthman Just REDUCED IN PRICE!!

2009-01-23T10:18:00.002-07:00

New Listing On The Market Brought To You By The Cameron Team!

2009-01-22T09:02:00.003-07:00

Loss of job forces this short sale, home is well cared for and updated! Great 3 Bedroom + Loft Home. Shows Light, Bright And Open. Pride Of Ownership Is Evident When You See The Awesome Condition Of This Home. Interior Recently Painted And Stylish Accent Walls Create Lovely Setting. Upgrades Include: Smooth Top Range, Built-In Newer Microwave, Soft Water & R/O System, And Alarm. Beautiful Private Yard Offers Covered Patio And Large Grassy Play Area. Washer, Dryer & Fridge Convey. Neighborhood Pocket Park With Volleyball & Basketball Courts. Loft Easily Changed To Make Into 4th Bedroom. Close To Freeway, Downtown, Desert Ridge & PV Mall. Short Sale in process and using professional negotiator with 80% success rate! SPA & Canopy do not convey!

Emerald Just Reduced In Price For a Quick Sale By The Cameron Team!

2009-01-21T11:43:00.001-07:00

Absolutely perfect 2 bedroom, 2 bath condo with back covered patio plus views of sparkling community pool from the from the front! This unit has 17'' tile floors throughout, Carpet in Master Bedroom, a wood burning fireplace, extra storage on patio, furnace and A/C replaced in 2007, full size washer/dryer and refrigerator included! Perfect Winter Home. Located in beautiful Fountain Hills this condo is something your buyers are sure to love!

PRICED REDUCED on HAPPY HOLLOW!!! A Great Home listed by The Cameron Team

2009-01-20T14:08:00.001-07:00

Bank Owned and Priced to Sell! Located in Cresta Norte gated subdivision located in the Desert Mountain area! This Greatroom floor plan is a 2 x 2 split with 3 Baths. Large open kitchen offers Granite counters and built in Stainless steel fridge. Large yard with pebble tech pool, rock water fall, large covered patio and mountain views. Master offers snail shower and large walk in closet with organizer. The lot is elevated and offers city views from the front and mountain views to the rear.

Great BANK OWNED Home Brought To You By The Cameron Team!!

2009-01-20T12:04:00.003-07:00

Bank owned and priced to sell!! Beautiful home in wonderful desert landscape. Remodeled Kitchen with tile, floors, tile countertops, and whitewashed cabinets. This Home has a Fireplace, ceiling fans, and cedar closet with excellent storage space. Bathrooms have wonderful tile on floors and in shower & tubs. This Home also has a Studio size Guest House which accounts for the 3rd Bedroom. Guest House is perfect for roommates, in laws, or to use as an office! This is a great home you are sure to fall in love with!

Another Great Home in Escrow Thanks to The Cameron Team!!

2009-01-16T10:52:00.004-07:00

Another Bank Owned Home Priced To Seel Brought To You By The Cameron Team!

2009-01-15T10:43:00.003-07:00

POSITIVE SIGNS IN THE REAL ESTATE MARKET

2009-01-14T15:36:00.003-07:00

Wow, I have to get back to the blog. The last 4 months have been busier than the previous 8 months and I have 3 additional people working for me!

Anyway, I received the following email about the positive signs in the real estate market. I am seeing them here. Well I am experiencing it too, that's why I am so busy.

Attention all agents,If you think real estate sales are dead then Check out the awesome article from Forbes regarding the Phoenix Real Estate Market!! Real Estate Where U.S. Home Sales Are Rising, Matt Woolsey, 01.12.09, 04:00 PM EST Motivated sellers in these 10 cities are fueling deals and hastening recoveries.In Depth: America's Best Cities For Home Buyers Something funny's happening in Las Vegas. Home sale prices from last year are down 28%, but home sales are up 15%.The reason? Motivated sellers--those in distress or foreclosure--or banks with too many homes on the books are slashing asking prices in order to unload their properties. Motivated sellers in Las Vegas accounted for 64% of salesin October, the highest rate in the country according to Radar Logic, a New York-based derivatives firm that provided the data for this story. Yahoo! Buzz That means buyers are getting deals and hastening Las Vegas' recovery.In fact, buyers are eating up inventory fast enough that the discounts offered by motivated sellers are tightening as supply contracts. The difference between what motivated sellers have to offer and what non-motivated sellers can command has held steady for three months at a 17% discount, versus the 33% national average. So while it's still a buyers' market, prices have dropped to a level that's stimulated demand."There's a pretty active housing market, it's simply at a lower-priced inventory,"says Michael Feder, chief executive of Radar Logic. "And there are now bidding wars taking place over homes in foreclosure."In Depth: America's Best Cities For Home Buyers Other cities are experiencing the same. In markets flush with motivated sellers,such as Phoenix and San Diego, transactions are up 10% and 90% respectively,as buyers are starting to compete for available deals. All are bright spots in an otherwise dark economic climate. While in many cities, potential homeowners are waiting to see how low prices will fall before buying, in places with highly motivated sellers, prices have dropped far and fast enough to rekindle sales. While foreclosures continue to rise,and Credit Suisse (nyse: CS - news - people ) estimates 8.1 million more of them through 2012, financially solvent buyers are finding good deals at price points and mortgages they can afford. "We're clearing out the bad news," says Kiva Patten, a director at Merrill Lynch (nyse: MER - news - people ) specializing in housing derivatives. He says that continued price drops and uncertainty have kept many out of the marketplace but that some markets have reached a price level that's drawing in buyers. "If everyone is expecting bad news, when you get the bad news,and it's out of the way, that's good. Individual buyers start to come back into the marketplace."Reprinted courtesy of Forbes News Lets start getting the good news out about the awesome buys that can be had in our Phoenix market. It's our obligation to get this news out to the public.Send this article to your sphere and clients and let's bring some hope and inspiration to the Phoenix metro area real estate market."Protecting and Promoting Your Success With Integrity" Jim Kellander Managing Broker Keller Williams Integrity First Realty

Thanks Jim

Just my opinion,
Jeff Cameron

REDUCED IN PRICE!! Fantastic Patio Home In The Heart Of Everything!

2009-01-13T09:44:00.003-07:00

Fantastic patio home in the heart of everything...just minutes from the 51 and downtown, PV mall, Desert Ridge and Kierland! Perfect location in the middle of the community, out the back gate and the community pool feels like a private pool. Split floor plan 2 bedroom and 2 bath. Recently replaced the appliances and all new A/C system 2/08 $3,600. In 2001 both baths were remodeled and the master is handicap accessible. New dual pane doors and windows in 2005, over $8K invested. Cute patio with tile floor, fun for these beautiful days! Ceiling fans in both beds and great room.

Beautiful Private Retreat Just Reduced In Price By The Cameron Team!! A MUST SEE!!

2009-01-12T09:51:00.003-07:00