Mardi Gras is coming to downtown Chandler, Arizona in FebruaryMardi Gras in Chandler, Arizona

Mardi Gras is coming to Historic Downtown Chandler in February 6, 2010. Parade and street festival to Cajun cook-offs, arts & crafts, gourmet food booths, live entertainment, strolling musicians, street performers, jazz music, dancing, costume contests and the crowning of the Mardi Gras King and Queen are scheduled from 6 pm to 11:30 pm. Organizers say it won’t have the conspicuous public nudity and alcohol-fueled mayhem of the New Orleans celebration.

Ticket prices are:

* $325 packgage includes:
- 2tickets to Mardi Gras Gala
- 1 night stay at San Marcos Resort
- Sunday Jazz Brunch for 2 at San Marcos Resort

* $100 for VIP
- which includes a reserved seat
- food and beverages

* $75 for regular admission
- including food and beverage

For tickets and event information, visit www.chandlermardigras.com.

Phoenix Housing Market Update and Predictions for 2010

January 19, 2010 - Bob Bemis, CEO of the Arizona Regional MLS, on the Channel 12 news shared the latest figures for the Phoenix real estate market including foreclosures and short sales.

Loan Modification will hurt your credit.

In the race of trying to avoid foreclosure many consumers does not realize that their credit is affected even they are successful with their bank on modification process.
A potentially damaged credit score is one of those hidden costs of home loan modification. It varies significantly depending on the lender, and how your loan was altered.
More than often Banks do not tell troubled homeowners up front that could happen.
Frequently banks utilize as a form of loan modification a trial period that allows temporarily reduce monthly payment for set numbers of months’ to make sure that income is still in place, before program could be implemented permanently.
Banks explain that modified payment during the trial period is going to show up as a rolling 30 day late payment on credit.

The rolling 30 day late payments will have a serious negative impact to Fico scores. More than likely mortgage will show up as being 30 days past due for 4 straight months. This is a great illustration of the disconnect between these mortgage relief plans and the realities of credit reporting.

Supposedly, the federal program requires three trial payments (in some cases four) before the loan can be modified. The reason that it would be considered delinquent on current mortgage is that the payment is lower than originally agreed on the Note. Therefore, it will show as a rolling delinquency on the payments of the difference between old mortgage payment and new mortgage payment the first month, and then when the next trial payment is submitted, the delinquency would be made up but I would have a new delinquency in the second month, and so on, until the loan is modified.
The lender said that "Treasury Guidelines" do not allow the lender to waive the negative credit reporting.

After the terms are met, payment are made on time and modification moves to the permanent status the delinquencies showing on credit bureaus are being wiped out.

But is this really happens?

Can Your Twitter and Facebook comments affect your credit?

Twitter and Facebook have already huge impact on your everyday life. Everything what you reveal online may cause unintended consequences. As a Real Estate Agent you are trying to be visible and active on at least few social network sites. And those sites are being used, and checked, and red. So far, I have heard about employers checking profiles, comments, pictures and any available content of their applicants.
Recently, I came across an article written by Erica Sandberg. She is stating that everything you and those in your network do and discuss online may be compiled and provided to creditors. Of course, if your settings are tuned to public. This includes your Facebook status updates, Twitter "tweets," joining online clubs, linking a Web site, and even posting comments on a news blog. Since you are desired to be found by as many potential customers as possible you keep your profile public.

Some Financial Institution access the information that you and your friends reveal online. Watch your behavior patterns - what you like and dislike, want and don't want, do well and do poorly. They gather all your social networking transmission in hope to help them identifying good credit customers and promote certain products.
Another reason - is lowering lending risk. Creditors are able to look how people in your network are handling accounts. If they are responsible cardholders or not. There is a better chance you will be too.

What you can do:

• Don't accept all invitations, check out the profiles first
• Be aware of what you write about
• Don't public information you don't want to be public
• Take an annual inventory of all your social networking sites, people and information

to read more: www.creditcards.com (Social Networking: Your key to eady credit?)

Hike in Picketpost Mountain, Arizona, Phoenix Metro Area

Hike in Picketpost Mountain, Arizona, Phoenix Metro Area

Like almost every Sunday ( at least till the summer) we took a trip to enjoy a beutiful views during the hike. This time we picked the Picketpost Mountain. A quick overview about the area:

Picketpost Mountain is located just outside the town of Superior, Arizona approximately 40 miles (64 km) east of the Phoenix Metro Area. The mountain is located in the southern desert region of Tonto National Forest and is popular with hikers. The mountain is also well-known for an oddly placed mailbox at the top of the mountain, which contains the log books for the Picketpost Mountain Trail.

The mountain’s unusual name stems from an early military camp founded at the base of the mountain by General George Stoneman in 1870. The soldier’s nicknamed the mountain “Picket Post” due to its usage as a sentinel point to guard their camp from attacks. This military camp eventually grew into the present day town of Superior. (wikipedia)

View Picketpost Mountain, Arizona in a larger map

Grande Reserve in Chandler, Real Estate Overview

Grande Reserve, Gated Community in Northwest Chandler. Easy access to the 101, the 202, the 60, I-10 and Shopping!

The median sales price for homes in Grande Reserve, Chandler for 2009 was $568,750. The average price per square foot for Grande Reserve was $142,88. The average listing price for homes for sale in Grande Reserve was $593,583 for the 2009.

Average Listing Price:
$593,583

Median Sales Price:
$568,750

Average price/sqft:
$142,88

Homes for Sale: 1
Recently Sold: 4
Expired Listings: 1

Chandler residents can now enjoy the unique amenities of the long-awaited Paseo Vista!

Paseo Vista Recreation Area
3850 S. McQueen Rd.
Northwest Corner of McQueen Rd. and Ocotillo Rd.

Chandler residents can now enjoy the unique amenities of the long-awaited Paseo Vista! 64-acre park was built on top of the City landfill.
The facility includes:

• disc golf course
• dog park
• playground
• picnic areas
• and more than a mile of walking trails

For almost 30 years it was a working landfill, man-made dirt mound rising above the streets and nearby houses.
Vehicle access is off McQueen Rd., ¼-mile north of Ocotillo Rd., and there are more than 330 parking spaces. Direct access is also available to bicyclists, joggers and others via the adjacent Paseo Trail along the Consolidated Canal. Additional pedestrian access points will be opened when the McQueen Rd. widening project is completed later this year.

PASEO VISTA AMENITIES

• Bark Park (one of four Dog Parks in Chandler)
  
• Disc Golf Course
• Archery Range (Archery classes will be offered)
  
• Playground ( swings, slides, climbing rocks, a large spherical jungle gym made of cables, and an educational “trash wall”)
• Great Views (40-foot-high lookout point, spectacular 360-degree views of the East Valley)

For more information on the Paseo Vista Recreation Area, contact 480-782-2754.

source: www.chandleraz.gov

$8,000 First-time Home Buyer Tax Credit at a Glance

$8,000 First-time Home Buyer Tax Credit at a Glance

• The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The tax credit applies only to homes priced at $800,000 or less.
• The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
• For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

• To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
• The tax credit applies only to homes priced at $800,000 or less.
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Realtors See a Decade of Dramatic Developments

Realtors See a Decade of Dramatic Developments

—At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes.

“The real estate industry has seen tremendous change and evolution over the past decade,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “As the first, best source for real estate information, Realtors have not only anticipated and adapted to the evolving needs of their clients and customers, but also have influenced industry trends and innovations that will carry us into the future.”

In 1999, buyers who went online in search for a home were in the minority–only 37% of buyers used the Internet in their home search, according to data from the NAR Profile of Home Buyers and Sellers. Today, 90% of buyers are searching online, and the real estate industry has responded. Sites like REALTOR.com, which attracts nearly 12 million total visits every month, have evolved to give today’s buyers what they want–not just property listings, but multiple photos, online videos, mapping features, and comprehensive neighborhood information, as well.

Median home values over the past decade have increased more than 25%, from $137,600 in November 1999 to $172,600 in November 2009 (the most recent existing-home data available). Fewer people are buying detached, single family homes–82% in 1999 compared to 78% in 2009–but more people are buying homes in suburban neighborhoods–46% in 1999 compared to 54% today.

Buyers themselves have also changed. A smaller proportion of married couples are buying homes these days; while married couples comprised 68% of all home purchases at the beginning of this century, they represent 60% of all buyers today. Single men and women have made up the difference–single men purchased 10% of all homes last year, compared to only 7% 10 years ago. Single women now represent more than one-fifth of all home buyers–21% up from 15% in 1999.

Other things haven’t changed. The median age for home buyers last year was 39, just as it was in 1999. Neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for both past and present buyers. And eight out of 10 recently surveyed consumers believe that owning a home is an investment in their future.

“Realtors have been around for more than 100 years, but one constant during that time has been the persistence of homeownership as the American Dream,” said Golder. “As the first decade of this century comes to a close, NAR stands ready to meet the many challenges and opportunities that lie ahead by helping our Realtor members better serve their clients and communities and ensuring that those dreams of homeownership remain possible for all who want to achieve it.”

For more information, visit www.realtor.org.

Real Estate Market Update - Phoenix, Chandler, Scottsdale, Paradise Valley, Arizona

Real Estate Market Update - Phoenix, Chandler, Scottsdale, Paradise Valley, Arizona

As of the end of December, 2009.

• Total SFD sales for the year will be about 93,000 the 3rd best year on record behind 2004 and 2005, and 55% higher than the 60,108 of 2008.
• Sales of December 2009 with 7573 are 55% higher than December of 2008 which had 4873.
• At the end of 2009 we have a 3 1/2 month supply of homes compared to an 8 3/4 month supply at the end of 2008.
• We currently have 26,169 homes for sale compared to 43048 at the end of 2008.
• With increased sales volume came stabilized and improving pricing as we hit the low median price of $115,500 in April, and improved to $130,000 in November, a 12.5% jump. This stabilizing was mostly in the lower price ranges.
• There is still no solution for Jumbo Financing which continues to affect price stability of the $500K and up market.
• However, the luxury market of Paradise Valley finished the year strong with 34 closes in the month of December and about a one year supply of homes. This compares to the Scottsdale $1M+ supply of about 2 years.

The comparison of current active listing change is based on the previous reports' 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.
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 Market Statistics-Breakdown by Area.

• Inventories are down 1% from the last report.
  
• Total of 26169 active listings with 7573 closings in the last month.
  
• About a 3 1/2 month supply.

Phoenix.
Inventories are unchanged from the last report.
Total of 5268 active listings with 1802 closings in the last month.
About a 3 month supply.

West Valley.
Inventories are unchanged from the last report.
Total of 6130 active listings with 2204 closings in the last month.
About a 2 3/4 month supply.

SE Valley.
Inventories are down 2% from the last report.
Total of 5908 active listings with 1895 closings in the last month.

About a 3 month supply.

Scottsdale over $1m.
Inventories are down 4% from the last report.
Total of 955 active listings with 40 closings in the last month.
About a 24 month supply.

Scottsdale under $1m.
Inventories are down 2% from the last report.
Total of 1813 active listings with 364 closes in the last month.
About a 5 month supply.

Paradise Valley.
Inventories are down 5% from the last report.
Total of 433 active listings with 34 closes in the last month.
About a 12 3/4 month supply.

NE Valley.

Inventories are down 3% from the last report.
Total of 4047 active listings with 550 closings in the last month.
About a 7 1/2 month supply.

SE Valley.
Inventories are down 2% from the last report.
Total of 5908 active listings with 1895 closings in the last month.
About a 3 month supply.

Scottsdale over $1m.
Inventories are down 4% from the last report.
Total of 955 active listings with 40 closings in the last month.
About a 24 month supply.

Scottsdale under $1m.
Inventories are down 2% from the last report.
Total of 1813 active listings with 364 closes in the last month.
About a 5 month supply.

Paradise Valley.
Inventories are down 5% from the last report.
Total of 433 active listings with 34 closes in the last month.
About a 12 3/4 month supply.

source: Karl Stauffer