Phoenix, AZ Real Estate Professional

A good day for interest rates

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Fri, 06 Nov 2009 16:57:30 -0500

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?

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Wed, 04 Nov 2009 10:01:14 -0500

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

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 29 Oct 2009 19:48:19 -0400

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

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 29 Oct 2009 17:47:28 -0400

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!

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Wed, 28 Oct 2009 20:28:15 -0400

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

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Mon, 26 Oct 2009 23:31:44 -0400

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

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Mon, 26 Oct 2009 23:07:47 -0400

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.

Central Scottsdale Home For Sale Is A STEAL!

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 22 Oct 2009 13:55:35 -0400

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

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 22 Oct 2009 11:45:54 -0400

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

Phoenix Mortgage Broker Updates The Rate Market For Today

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 22 Oct 2009 10:52:22 -0400

Phoenix Mortgage Broker Updates The Rate Market For Today

Start by floating this morning; the rest of the session will be focusing on equity markets. We are not looking for much improvement however, and continue to remind the present condition in the rate markets is bearish; although not aggressively so. Any additional selling in mortgages and we will stop floating and lock. Stay tuned for updates as necessary.

Rate markets opened weaker early this morning. At 8:15 prior to weekly jobless claims the 10 yr note -6/32 and mortgage prices -5/32. Weekly jobless claims at 8:30 were higher than expected; markets were expecting an increase of about 4K they jumped 11K to 531K. Last week's claims were revised up 6K frm 514K to 520K. Continuing claims declined to 5.92 mil from 6.02 mil last week, revised from 5.992 mil.

To apply for an FHA, VA or USDA loan by the best Phoenix Mortgage Broker, visit my site

Weekly claims being higher than expected should have provided a modicum of support for the rate markets and a little pressure on equity prices (although at 9:45 the DJIA was trading better); at least on a knee jerk reaction. Not the case however, claims data is leveling out recently so a little chop is no longer the issue it was a month ago. We don't trust the recent claims data on jobs with the jobless claims a touch higher, continuing claim lower and a minor improvement on the 4-wk average. All the alterations in how jobs and or joblessness are counted have shifted, and without a straight read of some sort the market will continue to distrust the reports.

At 10:00, a few minutes ago, Sept leading economic indicators were expected to be +0.9%; it came at +1.0%, August revised to +0.4% frm +0.6%. Not a big series so not much attention is paid to it by traders.

Also at 10:00 the FHFA housing price index for August, expected to be +0.3%, prices as reported were down 0.3%. That did a little initial number on the equity market with the DJIA selling off slightly, The decline boosted the rate market prices a little.

At 11:00 Treasury will announce the amounts for next week's auctions; 2 yr, 5 yr and 7 yr notes to fund the growing federal deficit. Last month the total was $112B for all three. Supply, while in the past few months has not been a problem to absorb, is always a pressure point for the rate markets. The last auction Treasury conducted, 30 yr bond on the 8th of the month, didn't go as well as traders expected. At the long end of the curve, it doesn't necessarily equate to the auctions next week; but with the dollar declining it begs the question about how much more foreign investors are willing to take down at present yields. So far the weakening dollar has attracted investors, likely to continue this go round. That said, it is unlikely treasuries will rally into the supply.

Stepping back; since 8/14 the bellwether 10 yr note has established a well defined range and set the range for mortgage rates. With the exception of six trading days the 10 yr note has held between 3.25% and 3.50% with most of the trade occurring between 3.35% and 3.47%. When seen in that context the rate markets have been very stable since mid-summer. Lots of swings but within a tight range. The run lower (below 3.25%) was immediately rejected, implying investors have little interest in the 10 yr or mortgages when their yields fall much below where they trade today. Technically the 10 yr and mortgages are bearish, as long as 3.50% holds we are not concerned, but if 3.50% breaks on the note look for a rapid increase of 25 basis points on the note and 30 yr mortgage rates.

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

Central Phoenix Homes For Sale

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Wed, 21 Oct 2009 19:06:39 -0400

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;

Gilbert Arizona Homes For Sale

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Wed, 21 Oct 2009 18:22:32 -0400

Gilbert Arizona Homes For Sale PRICED $80,000 BELOW MARKET VALUE

This beautiful Gilbert Arizona Home For Sale features 7 bedroom 5 bath, 4001 square foot home with (get ready for this) 7 car garage, that's right 7 CAR GARAGE! Othe features include a 61,000 square foot lot, pool and tons of upgrades, Best of all, this spectacular Gilbert Arizona Home For Sale is priced $80,000 BELOW MARKET VALUE!

For additional information on this Gilbert Arizona Home For Sale or to schedule a private showing, call my office at (602) 291-4362

Gilbert Arizona Homes For Sale at a Glance

Located in the southeast valley of the Phoenix metropolitan area, Gilbert is a dynamic community that is actively growing and diversifying its economic base, citing global-minded innovation and entrepreneurship as keys to productivity. Endowed with supportive infrastructure, ample land and recognition as the center of a new mega-region called the “Sun Corridor”, Gilbert is committed to realizing sustainable, world-class business environments that are unique to the community. The community’s dense volume of educated residents boasts one of the highest concentrations of graduate and professional degrees among competing Western U.S. cities with 34.56% of residents holding a bachelor degree of higher, outpacing the national median by 39%. In addition, the median income of Gilbert’s residents is one of the highest within the state of Arizona at $84,967.
Gilbert’s current population of 215,000 has doubled every five years since 1980. With attractive demographics, award-winning amenities, prime business incentives and high-profile developments, Gilbert offers immediate, attainable economic opportunity for industry-leading companies.

Gilbert Arizona Homes For Sale Profile:

Map of Metropolitan Phoenix

Year Founded........1891
Year Incorporated........1920

Planning Area........76 square miles

Elevation........1,273 feet

Annual average rainfall........7.66 inches
Annual sunshine days........310 days

Average Temperature (High/Low):
January....67/45 July....112/85
April....90/62 October....88/60

Average Rent:
One Bedroom $608
Two Bedroom $828

2007 Single Family Median Home Price

New Home: $276,085

Resale Home: $270,000

To search all Gilbert Arizona Homes For Sale, visit my 24/7 Home Search web site

Phoenix Real Estate Market Update – September 2009

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Fri, 16 Oct 2009 11:20:44 -0400

Phoenix Real Estate Market Update – September 2009

I want to wait until the Phoenix Real Estate market hits “bottom” before I buy!

Well, guess what, it appears to have hit the bottom several months ago and you may have missed your chance!

Why won’t the Phoenix Area media give you these housing facts? I guess the more doom and gloom the better it is for the media, but not for Phoenix Real Estate.

The more confidence the consumer has in the housing market the faster our economy recovers. And yet, you never see these numbers.

Through August, the 2009 Phoenix Real Estate market has closed 61,125 homes compared to 46,156 homes in 2008 and 66,094 homes in 2007.

There are currently 37,688 homes available in the Phoenix Real Estate Market, with 12,365 homes under contract and 7858 closed in September. These figures represent 3.04 months worth of sales.

A normal Phoenix Real Estate Market consists of 3 to 5 months of available inventory.

If you are searching for a Phoenix area home under $250,000 you are in for a quite a shock. There are multiple offers, many for more than the list price depending on the condition and location of a home.

Prices are going up in many areas. But, you must be careful to know what areas are rising and which are still sinking. Phoenix Real Estate is very much about location, location and location. So, make sure before you write an offer you are working with a Realtor who can do the proper research on pricing, condition and location.

This is where my expertise in the mortgage business is critical! I have seen thousands of appraisals and have a thorough knowledge of appraisal principles, guidelines AND the tools to perform detailed price research. So, don’t overpay, take advantage of my expertise! Call me today at (602) 291-4362

Visit my site where I have hourly updates of homes along with photos and maps. To search for Phoenix Homes, visit my site:

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

Phoenix Mortgage Broker Thinks Interest Rates Will Stabilize Today!

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Fri, 16 Oct 2009 10:45:05 -0400

Phoenix Mortgage Broker Thinks Interest Rates Will Stabilize Today!

I suggest starting the day by floating; we normally do that. It is a bear market now however so we will not press it and move to lock mode on any weakness. If you float today keep close for our alerts. Unless mortgage markets gain a little traction through the rest of the day we will lock over the weekend.Look for interest rates to remain stable today.

If you would like to subscribe to our Interest Rate Watch service call my office at (602) 291-4362.

As we expected, the 10 yr and mortgages opened slightly better this morning with the benchmark 10 yr testing its technical support yesterday and holding it at the 3.50% area. No change in the bearish path however, just a bounce in what we believe will be a range for the note and mortgages of about 25 basis points (3.50%/3.25% on the 10) and 5.00% to 5.25% for 30 yr mtgs. At 9:00 this morning the 10 yr note traded +8/32 at 3.44% -2 BP; mtgs +5/32 (.15 bp). The DJIA futures traded -58 on some weaker than expected earnings reports. At 9:30 the DJIA opened -95; 10 yr +12/32 3.42% -4 BP, mtg prices +5/32.

To apply for a low interest rate FHA, VA or USDA loan, visit my site

Prior to the equity market open at 9:30; Sept industrial production was expected to +0.2%, it jumped 0.7% and August production increased from 0.8% to +1.2%. Manufacturing output rose 0.9%, lower than +1.2% in August. Sept capacity utilization, also better than expected, 70.5% against estimates of 69.6%; August capacity use was revised slightly better to 69.9% frm 69.6% originally reported. Manufacturing use increased to 67.5% frm 66.8% in August. The reaction to the better data pushed mortgages backed to unchanged and the 10 yr note from +8/32 to unchanged.

At 9:55 the U. of Michigan consumer sentiment index, expected at 74.0 frm 73.5 at the end of Sept, was lower at 69.4. The 12 month outlook question on the survey fell to 79 frm 88.0 at the end of Sept; consumer expectations at 67.6 frm 73.5 at the end of Sept. The survey is subject to wide variations at times, but does take some wind from the sales and reminds consumers are still not in the game of recovery being so heavily bet in the equity markets. No real positive reaction to the report in the bond and mortgage markets but the DJIA fell 10 points on the report.

For the best online mortgage calculators, VISIT US HERE.

The stock market is opening lower this morning on reports from BofA and GE; BofA took another $1B loss for the quarter, the second this year. Loan defaults drove the losses. GE made a profit by cost cutting but its revenues fell short of expectations.

Treasury reported August net foreign purchases of US debt. A total of $32.9B in August; $21.3B by private foreign investors, $11.6B by foreign "official" institutions (central banks) and $4.3B by US residents. No need to look any farther as to who is supporting US deficits.

Call our office at (602) 291-4362 to see how our SmartBuyer™ System can save you at least $50,000 when buying and financing a home.

Being Friday trade will likely have a narrow range through the remainder of the day. The wider outlook is bearish for the bond and mortgage markets; the shorter view however is a little better after the 10 yr note managed to hold its first key support at 3.50% yesterday. Still looking for a trading range on the note and mortgages of about 25 basis points; 3.25% to 3.50% on the 10 yr and 5.00% to 5.25% for mortgage rates. So far this morning mortgage markets are somewhat soft.

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

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

My FREE Book Will Show You How To Buy Phoenix Area Real Estate With $100 Down

Bob & Michele Mangold (First Priority Financial / HomeSmart ) — Thu, 15 Oct 2009 19:24:03 -0400

My FREE Book Will Show You How To Buy Phoenix Area Real Estate With $100 Down....

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Learn how to profit from buying Government Foreclosures with only $100 Down....Absolutely FREE!

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To apply for a $100 Down loan , visit my site

Call our office at (602) 291-4362 to see how our SmartBuyer™ System can save you at least $50,000 when buying and financing a home.

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