A good day for interest rates!

Friday Phoenix mortgage interest rate update..........

I will continue to float over the weekend, but I caution not to let the locked loans pile up; keep your exposure from taking on too much risk. Like the market but not in love with it.  Interest rates have improved today.

If you were not watching the interest rate market early this morning you would think today wasn't much of a day given the employment report this morning. As is the case most of the time, the employment report sets off hip shooting that results in lots of traders getting their pocket books lightened. Today when the unemployment rate hit 10.2% the bond market exploded in a strong rally, the stock index futures rolled down hard and mortgage prices jumped. It took about 30 minutes to settle down, then by 9:30 selling took over in the bond market and the DJIA traded up as much as 75 points at 9:50. Mortgage interest rates and treasuries dropped their gains, went negative, sat weaker for 30 minutes before returning to spend the rest of the day unchanged on the 10 yr and stock market while mortgages bounced back to levels at 9:30. Who cares? Lenders that priced before 9:30, market commentators like us and traders licking wounds on their knees. Just a rehash of how volatile the employment report usually is.

Non-farm job losses in Oct were more than expected, -190K; but were offset by a cumulative increase in job losses previously reported by 91K in Sept and October. The upward revisions were the saving grace and provided the spin the rest of the day. While unemployment is increasing and likely to hit 11% in the next year, it generally is pushed aside by traders in favor of the non-farm jobs counts; that is, when it is convenient. When unemployment rates begin to decline that data will be the focus. Still putting lipstick on the sow and trying to get her to the prom; the employment situation is getting worse, not better; no matter the spinners that see non-farm jobs only falling 200K a month as "good news".

Consumers continue to cut credit; Sept declined $14.2B, mkts were expecting -$10B. The fourth consecutive month credit expansion declined. Banks are contributing by refusing to extend credit to otherwise qualified people.

President Obama signed legislation extending the $8,000 first-time homebuyer tax credit and giving additional tax breaks to certain homeowners trading up. Passed overwhelmingly by Congress, the bill would provide a $6,500 tax credit to homeowners who are buying a new primary residence beginning Dec. 1. The language mandates that to get the credit the homeowner must have owned their home for five consecutive years of the previous eight. But there are caps on the tax credits. They only apply to individual buyers who make no more than $125,000 and $250,000 for couples. There is also an anti-flipping provision: Any homeowner who collects the credit and sells within three years must return the money. The FTHB was extended to cover consumers signing a contract by April 30 and closing by June 30.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362

What is happening to interest rates?

Start by floating interest rate locks this morning but stay alert to instant re-pricing alerts. Likely not much movement until at least 2:15 this afternoon. I monitor and track  interest rate markets every minutes.  When I locked interest rates on loans yesterday afternoon, my average client paid a .25% lower interest rate on their 30 year foxed rate loan.

Started soft this morning with the 10 yr once again testing the 3.50% level; so far it has held again. At 8:15 this morning the 10 yr -8/32 3.50%, mtg prices -5/32 and the DJIA at +51. At 9:00 the 10 -7/32, mtgs -4/32 and the DJIA +66. At 9:30 the DJIA opened +65, 10 yr note -11/32 at 3.51% and mortgages -4/32.  The markets right now are trending towards higher interest rates.

The ADP jobs report for Oct at 8:15 was weaker than what had been thought, non-farm jobs excluding government workers -203K; forecasts were a decline of 190K. Manufacturing jobs however, down 53K was less than expected and less than what has been the case over the last several months. There was little reaction in the interest rate markets to the data; treasuries and mortgages were already at key support and held.

Earlier this morning at 7:00 the weekly MBA mortgage applications; the composite Index, a measure of mortgage loan application volume, increased 8.2%. The refinance Index increased 14.5% from the previous week but the purchase Index decreased 1.8% from one week earlier. The four week moving average for the overall market Index is down 5.5%. This seems to be a reaction to lower interest rates.

The ISM services sector data at 10:00; the overall index was expected at 51.5, was weaker at 50.6 frm 50.9 in Sept. New orders were better at 55.6 frm 54.2, price index at 53.0 frm 48.8 and employment declined to 41.1 frm 44.3. No noticeable initial reaction to the data.

Now through 2:15 this afternoon the rate markets are likely to sit quietly at key support levels for the yield on the 10 yr and resistance levels for mortgage backs on the price chart you can see on the Market Insights at MBS Tracking (suggest taking a look at FNMA 4.5). Traders and investors will keep their heads until the statement is released and analyzed. The focus on how the Fed may possibly adjust the wording in the statement that would provide more wiggle room on how long the Fed will leave the FF rate at zero. Not likely there is any thought of increasing rates anytime in the next six months, but as have noted previously, markets won't sit back and wait for the Fed to act; by the time the Fed actually moves markets will have already discounted it. The point being, while no rate increases are in the offing, the path is definitely up for rates from these levels (and of course the obvious caveat; if equity markets were to implode rate markets will benefit).

At 10:10 the 10 yr note is sitting right on its support at 3.50%; mortgages are backing off their resistance as treasury rates move higher.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Visit here

Peoria AZ Foreclosure Home For Sale

Save $30,000 and pay less than $1050 per month for this Peoria AZ Foreclosure home!

Features include; 3 bedrooms, 2 1/2 bath, diving pool, 2 car garage and over 2,200 square feet that sits on an 1/5 acre lot.  Peoria AZ is one of the top rated school districts in Arizona.

Peoria is also the spring training home of the Seattle Mariners and San Diego Padres and has beautiful parks and recreation areas.

Do you want to buy a Peoria AZ Foreclosure home?  Call my office at (602)  291-4362.

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362

Stop Paying Rent Forever! Part 1           Six Tips To Help Save You Money… And Anxiety!

With interest rates hovering around their thirty-year lows, a multitude of flexible and low-cost loan financing programs are available as well as a wide variety of assistance programs that can help virtually anybody experience the joy of homeownership.  In short, the time is right for buying your a home.

However, if you have always been a renter then you probably aren’t as well informed of the intimate processes of obtaining a home mortgage as you’d like to be.  To guide you through this exciting but often confusing time, this report details six tips that will help make your purchase a much smoother experience, save you money and eliminate your anxieties.

Get Mortgage Pre-Approval Before Starting Your Search

Before you begin looking for the home of your dreams, before you make one single decision regarding a home purchase, call my office to get pre-approved by a mortgage professional.  This is a FREE service I offer and will give you a definite advantage in the buying process.

During the evaluation stage, we’ll look at your financial situation and help you figure out how much home you can afford.  This may influence your decision for size, amenities and location, which will help narrow your search.

Pre-approval will also give you a step up on your competition.  Homebuyers that are pre-approved have increased leverage over buyers who are not.  Essentially a pre-approved buyer becomes a “cash” buyer.

Shop Around For A Professional Mortgage Broker

Like most industries, the quality of mortgage professionals can and does vary significantly.  So don’t immediately settle on the first lender you talk to.  Shop your mortgage around to until you find someone that you completely and unconditionally trust.  I think you will find that will be me.

My belief is to “teach” my clients how the real estate and finance systems work against the consumer in order to help THEM make the best decisions possible.

Download the following homebuyer and financing information at my web blog:

www.azhomebuyercoach.com/free-info

Mortgage Tricks

Shopping Around

Satisfaction Guarantee

Top 11 Credit Do’s and Don’t’s

Five Part Buying System

Don’t Become Fixated On The Interest Rate Alone!

Be careful!  The lowest interest rate does not always translate to the best deal.  Look at the total loan program that is being offered, not just the rate. There are several factors that have to be taken into account when evaluating programs: the loan type (fixed or adjustable), the loan term (15 year or 30 year), the closing costs and the down payment requirement.

NOTE:  The most important factor to consider is the ACTUAL interest you pay to the lender over he course of the loan.  My average client will save over $100,000 in payments and interest over the life of the loan.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362.

Phoenix Area Real Estate at wholesale prices!

Are you looking for a great deal on Phoenix Area Real Estate? Are you planning on moving in the next three months? Are you a Phoenix Area Real Estate investor looking for great cash flow and instant equity?

Buy Phoenix Area Real Estate at " cash investor" prices! Would you like to get "preferred access" to these homes?  Simply, fill in your information at our main blog and we will contact you to discuss your needs.

Fill in your information here; Phoenix Area Homes For Sale

So, you may be wondering how does this process work?

Well, it' really quite simple.  Our cash investors are buying Phoenix Area Real Estate directly from the court house steps or negotiating directly with the banks and then mark the homes up a few thousand dollars.  They make a small profit but make money by selling homes in volume!  This process is called "wholesaling".

You may be wondering, how can you participate and profit from wholesaling?     We have a simple 4 - Step process;

1.) Fill out the information in our form. We will call to discuss your specific requirements in the home you are looking to buy.

2.) You must be a cash buyer OR have a mortgage loan completely pre-approved (not pre-qualified)

3.) You must be a buyer within the next 90 days

4.) You will be given "preferred access" to these homes. You will get a 72 hour advance notice before properties are released to the public.

For more information or additional questions, please contact me at (602) 291-4362.

Announcing.....New Chandler Foreclosure Home For Sale

Priced $45,000 below market value!

Total payment less than $790 per month!  5% FHA loan with 3 1/2% down 5.34% APR

Are you a first time homebuyer looking for a great starter home in Chandler, Arizona? Are you a real estate investor looking for a great Chandler foreclosure home for sale that will give you great cash flow and a tremendous ROI?  Then, here it is!

Features of this Chandler AZ foreclosure include; 4 bedrooms, 2 bathrooms, 1,488 square feet, 2 car garage and is excellent condition.

These homes sell very quickly. So, if you would like additional information contact me at (602) 291-4362.

Would you like to buy other Chandler foreclosure homes for sale at 10% to 20% below market value? Call our office at (602) 291-4362

Phoenix real estate market update

Well not much has changed! Phoenix real estate listing inventory went up slightly and sales dropped slightly. We are now sitting at a 5.3 months of supply Valley Wide. Please notice that the September numbers are posted. Remember that is the Maricopa County sales for re-sale and new construction. It won’t reflect in the graph. The graph represents all MLS numbers which could include Pinal and Yavapai counties.

The Phoenix real estate market remains very hot for homes under $400,000

Currently the market breaks out at 47% REO sales, 20% Short Sales, and 32% Normal Sales for the last 30 days. Still 94% of the sales are under $400,000.

Below is the breakdown of Months of Supply by area. If you appreciate this information please send us an escrow! I promise we will do a good job!

Scottsdale 9.5, Ahwatukee 4.7, Apache Junction 5.5, Camelback Corridor 8.5, Cave Creek 10.3, East Valley 4.2, Fountain Hills 9.8, Goodyear Litchfield, Avondale 3.1, Northwest 4.5, Peoria and Glendale 3.0, Paradise Valley 18.8.

Would you like to buy Phoenix real estate 10% to 20% below market value? Call our office at (602) 291-4362.

entral Scottsdale Home For Sale Is A STEAL!

Scottsdale Home For Sale - Market Value $800,000 Sale Price $580,000

Very private central Scottsdale home on one acre, in the heart of Scottsdale's equestrian trails.. Completely remodeled home with new additions and lots of character. Gourmet kitchen, entertainers delight. Great schools, equestrian trail access. Front and rear courtyards. Large adjoining vacant lot is part of the property. Full advantage of indoor and outdoor living. Fruit trees. Large corner lot with great views of adjacent mountains. Green Bldg materials on new additions. 3 car garage with functional evaporative cooler.

For information on this Scottsdale Arizona Home For Sale, call me at (602) 291-4362.  This one will be gone FAST!

Approx SqFt Range: 4,001 - 4,500  Features: Skylight(s); 9+ Flat Ceilings; Water Softener Fireplace: Fireplace Family Rm; Fireplace Living Rm; Fireplace Master Bdr; Exterior Fireplace Parking: 3 Car Garage; Electric Door Opener RV Parking: RV Parking Horses: Y

Property Description: Corner Lot Exterior Features: Patio; Covered Patio(s); Balcony/Deck(s); Yrd Wtring Sys Front; Yrd Wtring Sys Back

Technology: Pre-Wire Srnd Snd; Cable TV Avail; HighSpd Intrnt Aval Energy/Green Feature: Ceiling Fan(s); Multi-Pane Wndws Kitchen Features: Range/Oven; Dishwasher; Disposal; Microwave; Refrigerator; Pantry; Kitchen Island Master Bathroom: Full Bth Master Bdrm; Separate Shwr & Tub; Double Sinks Additional Bedroom: Other Bedroom Split; Separate Bdrm Exit; Mstr Bdr Walkin Clst; Othr Bdr Walkin Clst; Mstr Bdrm Sitting Rm Laundry: Inside Laundry Dining Area: Formal; Eat-in Kitchen; Dining in FR Other Rooms: Den/Office; Bonus/Game Room Window Coverings: Drapes; Vertical Blinds Flooring: Carpet; Concrete; Stone Carpet Color: Neutral

For information on this Scottsdale Arizona Home For Sale, call me at (602) 291-4362.  This one will be gone FAST!

Scottsdale Arizona Condo For Sale

Scottsdale Arizona Condo For Sale - Priced $45,000 BELOW Market Value

This 5 year old 3 bedroom 2 bathroom 1472 square foot Scottsdale Arizona Condo For Sale features a great Scottsdale corridor location, urban living with that hard-to-find 3rd bedroom. 2nd floor unit offers maximum privacy. Spacious patio has mountain views, private garage, community pool and spa, workout room. Neutral tile in the kitchen and baths; neutral Berber carpet everywhere else and loads of upgrades.

For information on this Scottsdale Arizona Condo For Sale, call me at (602) 291-4362

Information About Scottsdale Arizona;

Scottsdale has more than 2,500 retail shops with everything from hand-stitched leather boots to designer fashions. Upscale shopping centers such as Scottsdale Fashion Square, Biltmore Fashion Park, and Borgata of Scottsdale feature retailers such as Burberry, Gucci, Louis Vuitton and Tiffany & Company. Old Town Merchants Association, with more than 150 shops and restaurants, captures the flair of the Old West with traditional and southwestern merchandise. Scottsdale Pavilions is a shopping center that offers mass retailers such as Target, Home Depot, and Best Buy. El Pedregal Festival and Marketplace has courtyard amphitheater facilities surrounded by boutiques, galleries and restaurants. Native American arts and crafts are available at Chief Dodge Indian Jewelry & Fine Arts, Gilbert Ortega Gallery of Indian Art, and Iverson's Indian Arts.

Scottsdale has an excellent selection of first-class dining establishments among its more than 500 restaurants.  Ethnic offerings include Southwestern specialties, Italian, French, Japanese, Chinese, Polynesian, Greek, Thai, Indian, and Continental cuisine. Mesquite grills abound, and Western fare served in cookout or ranch settings is popular.

PHOENIX HOME SEARCH Listings updated hourly. Photos, maps and neighborhood information available.

VISIT:        http://idx-lite.diversesolutions.com/search/3565/41

Need Help?  Call the Phoenix Homebuyer HelpLine at (602) 291-4362

Central Phoenix Homes For Sale Priced $62,000 BELOW Market Value!

Central Phoenix Homes For Sale - Great first time home buyer property located in the highly desirable Arcadia area in Central Phoenix.  This single story home features; 3 bedrooms, 1 1/2 bathrooms, 1408 square feet and a 7,928 foot lot. The home was built in 1953 and the 2008 taxes were $1614.60

Your total monthly payment (with a 3 1/2% down payment) on this house would be less than $925 per month

For additional information on this home, please call me at (602) 291-4362

Find the Perfect Home in the Arcadia Community in Central Phoenix

Founded in the 1920s as a network of citrus orchards, Arcadia remains one of Phoenix's greenest and most desirable neighborhoods. With its fresh, fruit-scented air and sprawling lots, its traditional-style architecture and beautiful views across Camelback Mountain, it'll make you feel like you're living in the heart of the countryside when in fact you're just a ten minute commute from the center of the state capital. Located where Phoenix borders on Scottsdale, Arcadia benefits from the facilities of both cities, with excellent shopping and dining available. It also features some of the best schools in Arizona.

Please review the chart below to track historical property values for the 85018 zip code;