PENDING HOME SALES JUMP

I have been reporting this for a while. Why do they report April numbers in June? May numbers are even better. It was helpful when the market was slowing, but that things are picking up, it is slowing the recovery.
Here in the Metro Phoenix area, our MLS is showing 7,863 single family homes in the Pending status. That is the highest number in over 2 years. If more buyers were aware of this, I believe more buyers would get off the fence. Sales are also at their highest level in 2 years. Our next goal is to get closings to that level. Closings are dragging due to the short sales, they take 4 to 6 months to close.


NAR: US pending home sales move higher in April
AP
Posted: 2008-06-09 15:24:31
NEW YORK (AP) - Pending home sales unexpectedly increased in April to the highest reading since October, an industry group said Monday, but they remain more than 13 percent below a year ago. The National Association of Realtors' seasonally adjusted index of pending sales for existing homes rose to 88.2 from a March reading of 83.0, the lowest since the index was started in 2001. The index stood at 101.5 in April 2007. Wall Street economists polled by Thomson/IFR had predicted the index would remain steady at 83. A reading of 100 is equal to the average level of sales activity in 2001. The April index in the West climbed 8.3 percent from March and is 4 percent higher than a year ago. In the Midwest, the index jumped 13 percent, but is still lower than in 2007. The South posted a 4.6 percent gain, while the Northeast index declined 1.9 percent. Read the full article: http://money.aol.com/news/articles/_a/nar-us-pending-home-sales-move-higher-in/n20080609152409990024

Short Sale - Sold & Closed!

The Cameron Team is proud to announce we Sold & Closed another home as a Short Sale. We negotiated with the bank to get acceptance for a purchase price of less than what was owed.
This home is in Candlewood Estates in North Phoenix on East Helena Drive.

If you or someone you know is considering doing a short sale or pre-foreclosure sale, please feel free to contact us for more information.

New Listing In McDowell Mountain Ranch

The Cameron Team just listed another home in McDowell Mountain Ranch!

This Beautiful Home Has It ALL!! *Wood Floors *20in Faux Travertine Tile *Upgraded Carpet *Raised Panel Cabinets w/Handles & A Display Cabinet *Granite Counters *Stainless Steel Under Mount Sink *Pot Rack *Upgraded Lighting *Stacked Stone Island with Wood Countertop *Stainless Steel Appliances *Gas Cooktop *Great Bath with Marble Top *Separate Tub & Shower *Flushmount Surround Speakers *Large Flagstone Patio *Outdoor Beehive Fireplace *Built-In BBQ *Grassy Play Area *Mountain Views *Spacious 3 Car Garage *Water Softner *Laundry Room w/Cabinets & Shelving ~ALL WITHIN THE MASTER PLANNED COMMUNITY OF MCDOWELL MOUNTAIN RANCH - WITH SO MUCH MORE TO OFFER!~

See the virtual tour and more pictures.

If you or someone you know would be interested in this home or any of our other listings, please contact us for more information. Contact The Cameron Team

Another Listing in Bel Esprit

The Cameron Team has a new North Phoenix listing in Heights at Bel Esprit.

The home is located at: 4324 E. Woodridge Dr. Phoenix, AZ 85032

This wonderful single level home has 3 bedrooms and 2 full bathrooms. The living areas include a formal living room, formal dining room, open kitchen with breakfast bar, breakfast nook , and family room. Master bedroom has separate exit to backyard. Master bathroom has dual sinks, separate shower, roman tub, and walk-in closet. All rooms have ceiling fans for help lowering electric bills, and home is North/South facing. Front and back yards are desert landscaping and have watering systems.

Located close by community parks, Paradise Valley schools, commuting, shoppings, hospital, and Paradise Valley Community College.

Take a look at the photos and virtual tour by visiting here and see more property info on our website and click on The Cameron Team Listings.

If you know anyone who would be interested in this property, is looking for a home to purchase, or has a home to sell, please email us their information and we will contact them to help them with all of their real estate needs.
Contact The Cameron Team here if you have any questions.

Another Cameron Team Listing Under Contract

We have acceptance!! We just listed the home at 10974 E. Mary Katherine in Scottsdale and it's Pending!! This home is bank owned and was listed at a great price which brought us a buyer and approval within a couple days. We hope to get this one pushed through quickly and closed.

We are continuing to work with Indymac Bank and selling REO properties. We are also working towards relationships with other Lenders and Banks to list and sell more REO's.

If you have questions about buying or selling a home, or want to know more information about REO properties, please feel free to contact us at 480-502-7699.

Just Listed in Scottsdale

The Cameron Team Just Listed Another Property...

This beautifully updated condo is now available for sale in the community of Quail Point Club in Scottsdale. Located off Scottsdale Rd. and Thomas it is nearby shopping, freeway access, downtown districts, and Tempe.

As a 1 Bedroom Condo there are many uses. Great for Seniors, College Students, Snowbirds, Or Low Maintenance Living.

Check out the photos and virtual tour here.
The address is: 3002 N. 70th St. #136 Scottsdale, AZ 85251

Please contact us if you would like to take a look at this available condo, or if you know someone who may be interested. We would be happy to help you with any of your Real Estate needs.

METRO PHOENIX HOME SALES FOR THE WEEK ENDED APRIL 14, 2008

Sorry, I missed this post on Monday. I was a little behind from the Home Remodeling and Staging EXPO.
For the week ended April 14, 2008, there were 1,188 homes that went under contract in the metro Phoenix area. This was the second week in a row homes sales hit this level. Homes sales are better now than they have been in over a year.
The four week moving average moved from 1,071 to 1,109. It has continued to climb and is at the highest level since March of 2007. I expect it to jump up next week. Sales for this week are already leading past weeks. I look forward to getting the 4 week moving average over 1,202. Once that happens we will be at the highest level since June of 2006. I expect to be there by mid June of this year.
It is great to see so much activity. Our phones have been ringing off the hook! We are having one of our best months in over 6 months.
If you have any questions about the market or want to review the sales numbers, don't hesitate to call or email.

North Phoenix Home Under Contract

Well we did it again! This beautiful home was listed on 4/2/2008 and SOLD on 4/5/2008. That's 3 Days!! The sellers worked with The Cameron Team to price their home correctly for this market and were able to receive multiple offers. We are looking forward to a successful close at the end of April.

This home is located at: 18659 N. 20th St. in Phoenix, AZ 85024

Click on the following link to see the Virtual Tour: http://www.visualtour.com/show.asp?T=1459611

Are you looking for a big Beautiful yard with Grassy area big enough for the kids trampoline plus RV Gate, room for RV parking, with orange, lemon, peach trees and mountain views! YOU have found it! This home is a split master floorplan with huge family room over looking the back yard. The kitchen offers a big island, plenty of storage and is open to the family room! Master bedroom offers separate tub and shower plus a walk in closet. The home offers vaulted ceilings. Close to parks, hiking, shopping, freeway access yet such a quiet, scenic area.

New Listing In Tatum Highlands

The Cameron Team just listed another home...

This beautiful home is located in Tatum Highlands and has 4 Bedrooms and 2 Bathrooms, a Formal Living & Dining Room, a Large Open Family Room, Spacious Island Kitchen with Eat-In Area, Oversized Lot with Pebble Tech Salt Water Pool and Grassy Play Area. There is plenty of space and it is very well maintained and shows Pride Of Ownership.

Find this great home on our website or drive by.

26245 N. 46th Place. Phoenix, AZ 85050

If you know anyone who might be interested in buying this home or searching for a home to purchase, please contact us with their information, or give them our contact info. We always appreciate your referrals and would be happy to help you or anyone you know with the sale or purchase of property in Arizona.

Take a look at the Virtual Tour for this home by clicking on the following link: http://www.visualtour.com/show.asp?T=1446749

TIME TO "WORK OUT" YOUR LOAN

Even if you are not in trouble, this may be a time for you to reduce your mortgage without paying an extra dime. Property values are dropping and what we need to happen is to stop the flow of foreclosures. It is time to call your mortgage company and ask to re-work your loan. You may be able to reduce your loan amount by 10 or 15%.

It can't hurt to try. If you are have financial problems, the first step is to talk to the lender and see if they can re-work your loan. Re-working a loan consists of lowering interest rates, extended time to the next adjustment and lowering the balance of the mortgage.

Please read more from AOL:

Fed chief sees housing problem as serious economic threat
Scott Lanman and Steve MatthewsBloomberg NewsMar. 4, 2008 05:54 PM
WASHINGTON - Bernanke's call for banks to forgive portions of mortgages at risk of defaulting goes beyond the stance of the Bush administration and even previous Fed comments, indicating that he sees housing as a serious threat to the economy that can't be addressed by fiscal or monetary policy alone. During a speech to bankers in Orlando, Florida on Tuesday, the Fed chief highlighted the threat posed by home values falling below mortgage balances, something Treasury Secretary Henry Paulson played down as recently as Monday. Bernanke said the "recent surge" in delinquencies has been "closely linked" to the slide of home equity and warned that the housing crisis could deepen.

The idea that lenders may benefit in the long run by accepting less than full payback of mortgage loans goes further than even recent Fed proposals. The Fed's Feb. 27 report to Congress called for lenders to "pursue prudent loan workouts" through means such as modifying mortgage terms and deferring payments.
'Won't Dictate'
"We're not going to dictate" how lenders should alter mortgage contracts, Treasury spokeswoman Brookly Mclaughlin said in an e-mailed response to questions. "If lenders find that in some cases a principal write-down is less costly than foreclosure, then that is an option they have the incentive to consider."Mortgage servicers "should have a clear basis for concluding" that borrowers are unable to make their payments, "rather than simply being unwilling to do so" before reducing loan principal, the American Securitization Forum said.The forum, whose members include Goldman Sachs Group Inc. and Citigroup Inc., lobbies for investors, traders, underwriters, accounting firms, ratings companies and other institutions involved in the creation and sale of mortgage-backed securities. The group commented in a statement Tuesday.Democrats in Congress have said relying on lenders to alter loan terms hasn't yielded enough progress and are pushing for a stronger government response.
Deeper Crisis
Bernanke warned Tuesday that the housing crisis may deepen."Delinquencies and foreclosures likely will continue to rise for a while longer," Bernanke said in the comments to the Independent Community Bankers of America. A surfeit of homes for sale indicates "further declines in house prices are likely," he said.Bernanke spoke in a state that's among the worst affected by the housing collapse. Miami home prices have dropped 17.5 percent in the past year, the most of 20 large U.S. cities, according to the S&P/Case-Shiller index. Foreclosures in Florida jumped at more than double the nationwide pace, rising 158 percent in the past year, according to RealtyTrac.
Subprime Rates
Subprime borrowers are about to see their mortgage rates increase more than 1 percentage point, he said. "Declines in short-term interest rates and initiatives involving rate freezes will reduce the impact somewhat, but interest-rate resets will nevertheless impose stress on many households."In the past, homeowners could refinance, though that option is now "largely" gone because sales of bonds backed by subprime mortgages "have virtually halted," Bernanke said. "This situation calls for a vigorous response."Bernanke didn't comment on the outlook for interest rates. Traders expect the Federal Open Market Committee to lower the benchmark rate by 0.75 percentage point by or at the panel's next meeting on March 18, based on futures prices.Fed Vice Chairman Donald Kohn told lawmakers today that officials are considering whether "we have adequate insurance" against the risks of a deeper downturn in growth. He also reiterated policy makers' call for banks to raise capital, and added that they ought to review their dividend plans.
'Reluctant' Lenders
"Lenders tell us that they are reluctant to write down principal," Bernanke said. "They say that if they were to write down the principal and house prices were to fall further, they could feel pressured to write down principal again."The Fed chairman countered that by reducing the amount of the loan, this "may increase the expected payoff by reducing the risk of default and foreclosure."Bernanke also urged investors in mortgage bonds to accept "short payoffs" of loans by allowing borrowers to refinance at a lower principal.For investors, a reduction in principal that's "sufficient to make borrowers eligible for a new loan would remove the downside risk" of further write-downs or defaults, Bernanke said. Investors may be able to share in future gains in home prices under some plans, he said, citing a proposal by the Office of Thrift Supervision.Paulson, by contrast, has declined to endorse the OTS plan. John Reich, director of the OTS, last month proposed a program where borrowers would refinance mortgages at current home values. The lender would receive a "negative equity" certificate that could be redeemed if the house is sold.
No Response
The Treasury chief on Monday stressed that it's the responsibility of borrowers to get in touch with lenders if they're facing payment problems. He said 80 percent of homeowners who were sent letters by the Hope Now alliance of mortgage servicers haven't responded.The number of U.S. homeowners entering foreclosure rose 75 percent in 2007, with more than 1 percent in some stage of foreclosure during the year, according to RealtyTrac Inc. of Irvine, California. For the year, more than 2.2 million default notices, auction notices and bank repossessions were reported on about 1.3 million properties.Monday, the Fed and other regulators sent letters to institutions they supervise, encouraging the banks to report on their efforts to modify mortgages at risk of default."This will make it easier for regulators, the mortgage industry, lawmakers and homeowners to assess the effectiveness of these efforts," Fed Governor Randall Kroszner said in a statement on Monday.

McDowell Mountain Ranch...SOLD SOLD SOLD

The Cameron Team has another home under contract! Our listing at 10560 E. Firewheel Dr. in McDowell Mountain Ranch is now pending! The buyers love this home and we are all looking forward to a successful close of escrow in the beginning of April. Congratulations to the Flach's for getting their home SOLD!!

JUST LISTED IN McDOWELL MOUNTAIN RANCH...SIENNA CANYON

We listed another home for sale in McDowell Mountain Ranch!

This gorgeous home is located on a cul-de-sac lot with only one direct neighbor. The address is: 10654 E. Palm Ridge Dr. Scottsdale, AZ 85255.


Wow, Wow, Wow! That's All You'll Say As You Drive Up. Premium Cul-De-Sac Lot With Views Of Sanctuary G. C. And Camelback Mtn. Paver Entry With Walkup Steps, Paver Front Patio And Stone Facade. Dramatic Entry With Inlaid Custom Design In The 24in Travertine Flooring. Custom Interior With Built-In Entertainment Center, Surround Sound In/Out Inc Master And Den, Stone Accent Fireplace And Island. Bosch Dishwasher, Completely Remodeled Master Bath With Travertine, New Cabinets And Custom Closet. Guest Bath With Refinished Cabs And Granite. Outside Oasis With Pebbletech Pool And Spa, Waterfall Slide, Custom Coated Deck, Dcs Bbq, Misting System, Play Area/Putting Green.


Some of you may be familiar with this beautiful home, that's because it is the home of the Cameron family. They have remodeled and upgraded this home to be absolutely awesome! There are so many upgrades to list, you would just have to see to believe.

IF YOU OR SOMEONE YOU KNOW WOULD BE INTERSTED IN THIS HOME OR IS LOOKING TO PURCHASE (OR SELL) IN THE MCDOWELL MOUNTAIN RANCH COMMUNITY, TAKE A LOOK AT THIS HOME AND OUR OTHERS! CONTACT US FOR MORE INFORMATION. WE WOULD LOVE TO HELP!
VISIT OUR WEBSITE FOR MORE ABOUT OUR LISTINGS! http://www.thecameronteam.com/

BEAUTIFUL HOME IN ARCADIA Under Contract....

Well we listed this home on Wednesday March 27th and it sold in 3 days!! This great home in the awesome Arcadia location was priced to sell and that got it SOLD!

The address is: 6326 E. Earll Dr. Scottsdale, AZ 85251

You can see the virtual tour of this home by clicking this link: http://www.visualtour.com/show.asp?T=1409394

Beautiful Home Located In Arcadia Neighborhood Shinning With Pride Of Ownership! Close To Everything - Downtown Phx, Airport, Zoo, Botanical Gardens, Bike Paths, Hiking, Scottsdale Waterfront And Over 600 Restaurants! Enjoy City Living In A Quiet Neighborhood! Located On An Oversized Corner Lot W. Lots Of Grassy Play Areas! This Home Boasts Wood Floors, Floor To Ceiling Windows, Fireplace And French Doors To Lovely Yard With Extended Patio Covered In Saltillo Tile! Master Bath Totally Redone Offers Travertine Accents! Recently Converted To 2 Car Garage! Also, A Large Laundry Room With Storage Cabinets And Sink! Don't Forget The View Of Camelback Mountain!

Our sellers are happy and looking forward to a successful sale in mid April.

SOLD TO OUR BUYER IN DESERT RIDGE FIRESIDE

The Cameron Team has another home under contract. Our buyers, The Macias', have found a wonderful spec home through Pulte Homes in Fireside at Desert Ridge. This home is located at 3921 E. Half Hitch Place in Phoenix. Rather than waiting for a new home to be built, they get all the ammenities of purchasing a new home and get a great price! Congratulations to them for this new purchase decision! They are looking forward to a successful close of escrow at the end of March.

NEW LISTING, DESERT HILLS BEAUTY ON 1.25 ACRES

We have another great home for sale!



Located in Desert Hills on 1.25 Acre Lot is this awesome horse property. The address is: 1239 E. Galvin St. Phoenix, AZ 85086.


This Is Not A Short Sale....Beautiful, Clean 3 Bedroom, 2 Bath Home With Horse Lover's Dream Riding Arena! It's Huge With Lights And 5 inches Of Sand Footing, New Exterior No Climb Fencing, Round Pen, 3 Partially Covered Stalls, Huge Front Yard Turn Out With Large Separate Tack Room And Wash Rack. This Is The Perfect Set Up...There's Plenty Of Space For Everyone! Home Has Newer Carpet And Tile, Paint, Garage Cabinets, Fenced Courtyard Out Back With Barbeque And Stone Fire Pit. You Can't Find All Of This Plus A Riding Arena This Size For This Price Anywhere! This Home Is A Must See!! Located In Desert Hills Area On 1.25 Acre Lot.


IF YOU OR SOMEONE YOU KNOW IS LOOKING TO PURCHASE A HOME IN THE DESERT HILLS AREA, PLEASE TAKE A LOOK AT THIS GREAT HOME AND OUR 2 OTHER CURRENT LISTINGS IN THAT AREA, AND CONTACT US FOR MORE INFORMATION. WE WOULD LOVE TO HELP!

The Cameron Team Listed Another Home For Sale!

We have another home listed for sale!!

This home is located in the Johnson Ranch of Queen Creek in the StoneGate Community. The address is: 30477 N. Coral Bean Dr. Queen Creek, AZ 85243





It is a beautiful home in a gated community on a golf course lot with neighbors on only one side!! Shows like a MODEL with custom paint, vaulted ceilings, entertainment niche, quality upgraded faucets, ceiling fans, light fixtures, 2 inch blinds throughout, covered patio with outdoor sound, beautiful private pool with rock waterfall! `Stone Gate` community offers - golf, pools, spas, tennis, parks, playgrounds, fishing and beautiful views! A must see, won`t last long, this one is a gem! And check out this beautiful sunrise from the backyard looking over the pool and across the golf course!

Click on this link to see the Virtual Tour of the home, showing the home inside & out.
http://www.visualtour.com/show.asp?T=1407931

IF YOU OR SOMEONE YOU KNOW IS LOOKING TO PURCHASE A HOME IN THE QUEEN CREEK AREA, PLEASE TAKE A LOOK AT THIS HOME AND CONTACT US FOR MORE INFORMATION. WE WOULD LOVE TO HELP!

The Cameron Team Listed Another Home For Sale!

We Have Another Wonderful Home Listed For Sale....



If You Are Looking For A Custom Home With Style...This Is It! Home Has An Artistic Touch With Taste & Creativity From The Inside Out!! One Acre+ With Awesome Landscaping Front & Back, Huge Storage Area, Plenty Of Room For Rv/Boat/Horses With 2 Car Carport In Addition To Completely Finished 2 Car Garage Plus Huge Extended Covered Patio! Great Open Floor Plan With Custom Metal Fireplace In Family Room, Custom Painted Concrete Flooring, Wood Floors To Be Done In Kitchen/Foyer To Match Laundry Room, Open Kitchen With Breakfast Bar And Huge Pantry/Laundry Room. Must See This Beautiful Home To Appreciate! Great Desert Hills Location Close To State Land With Mountain Views & Endless Trail Riding!



Click on this link to see the Virtual Tour of the home showing the property inside & out.
http://www.visualtour.com/show.asp?T=1395947



IF YOU OR SOMEONE YOU KNOW IS LOOKING TO PURCHASE IN THE DESERT HILLS AREA, PLEASE TAKE A LOOK AT THIS BEAUTIFUL HOME AND CONTACT US FOR MORE INFORMATION. WE WOULD LOVE TO HELP!

HOME SALES CONTINUE TO RISE IN PHOENIX

Prices may be down, but sales continue to rise. Last week 939 homes sold or went into a Pending status. Our next goal is to top the 1,000 mark. Last week was the best week since the week of June 11, 2007. Months of supply based on Pending home sales dropped to 9.1 months, down from 9.7 last week and 14.6 at the beginning of the year. The tide is turning, but it moves as slow as a big ship. Well a oil tanker type of ship.
My number are valley wide here in the metro Phoenix area and only count Single Family Homes, SFH. I track weekly cutting off at 3 pm on Mondays. My numbers are taken from the ARMLS.

Another Home Under Contract....

The Cameron Team has another home under contract. Our buyers, The Gribbens, have decided to purchase the home located at 18833 N. 15th Place in North Phoenix. After showing them several homes throughout Phoenix, they have narrowed down and are looking forward to the successful purchase of this home in February.

We Have Successfully SOLD Another Home....

The Cameron Team has closed escrow on the home located at 8904 N. 15th Lane Phoenix, AZ 85021 in the Central Corridor. This wonderful home was listed by The Cameron Team and we also represented the buyer in purchasing because of the call they made from our sign. These buyers will soon be listing their previous home for sale with The Cameron Team too!