Phoenix/Scottsdale Real Estate

Phoenix Mortgage and Business Update for February 27, 2010

2010-03-05T21:47:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Food for thought: Clearly one of the challenges to economic recovery is getting people back to work. You may want to check out the Job Market Headlines below. Note the reference to the 318,000 people who are no longer getting extended unemployment benefits. Did these people find jobs or, more likely, are they still looking for work and are no longer...(read more)

Phoenix Mortgage and Business Update for February 20, 2010

2010-02-21T23:20:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Editorial Comment: The purpose of this weekly update is to provide a snapshot of a variety of factors influencing both the mortgage and housing markets. As we all know our country is facing a host of financial challenges which need to be addressed and very soon. We need leaders with ideas who are willing to compromise to move us forward and that does...(read more)

Phoenix Mortgage and Business Update for February 13, 2010

2010-02-16T02:53:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Interest Rates Retail mortgage rates remained at or just below 5% again. Seems that there is a fairly vigorous debate over what rates will do at the end of March. This week the head of the St. Louis Federal Reserve James Bullard said that he did not expect to see a noticeable increase in mortgage rates when the Fed ends its MBS purchasing program in...(read more)

Phoenix Mortgage and Business Update for February 6, 2010

2010-02-09T05:02:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Fannie Mae HomePath Update: On January 28 th Fannie Mae announced 3.5% seller assistance to cover closing costs on Fannie Mae’s HomePath properties. The program is good for HomePath purchases that close by May 1, 2010. For more information go to www.homepath.com . Jobs Report Headlines: The jobs report for January showed a loss of 20,000 compared...(read more)

Phoenix Mortgage and Business Update for January 30, 2010

2010-01-31T01:59:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com SHORT SALE/FORECLOSURE WARNING! N If you have done a short sale or foreclosure, are thinking about it or know someone who is consider the following. Banks have become increasingly aggressive in collection efforts against borrowers who do a short sale or foreclosure where a balance remains. The primary targets so far seem to be borrowers who did a strategic...(read more)

Phoenix Mortgage and Business Update for January 23, 2010

2010-01-25T05:11:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com FHA Update Number 1: Changes: This week FHA announced the much anticipated changes to its lending policies. The changes include an increase in up front mortgage insurance from 1.75% to 2.25% of the loan amount, establishment of a minimum credit score of 580 for 3.5% down payment and requiring a 10% down for scores less than 580 and reducing the Seller...(read more)

Phoenix Mortgage & Business Update - January 16, 2010

2010-01-17T23:42:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com First time home buyer tax credit SNAFU: Homeowners who closed on their purchases before November 6, 2009 file IRS Form 5405 to get the credit. However, so far the IRS has not issued a form for claims after November 6 when the tax credit extension became effective. A new form was expected in early January. It also looks like a buyer will now have to provide...(read more)

Phoenix Mortgage & Business Update - January 9, 2010

2010-01-09T19:22:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Something New! We decided to start the New Year by upgrading this publications name to be more in line with what we are trying to accomplish. So, please note our new name is Smart Financial Weekly Mortgage & Business Update. I hope you like it! Finally, there is a lot of jobs news below and as we have said before our view is jobs are the key to recovery...(read more)

Phoenix Mortgage Update - 2010 Outlook

2010-01-01T17:41:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Editors Note: At the beginning of 2009 my goal with this update was to give you a glimpse of some of the factors that influence the mortgage and housing industry’s and let you draw your own conclusions. Hopefully that goal has been achieved and you are better informed than you were when we started. As 2009 comes to a close I thought it appropriate...(read more)

Phoenix Metro Weekly Mortgage Update for December 26, 2009

2009-12-27T15:41:00Z

From One of Our Strategic Partners: Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Editor’s note: In next week’s update we will offer up some thoughts for the outlook in 2010. Interest Rates It would appear that our historic low rate world is slowly coming to an end. This week retail mortgage rates pushed a little deeper into the 5% range as the market responded to less support from the Federal Reserve. In addition, there...(read more)

Phoenix Metro Weekly Mortgage Update for December 19, 2009

2009-12-19T16:53:00Z

From one of our strategic partners : Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Reminder: If you or anyone you know is interested in getting FREE assistance with a loan modification please let me know or have them contact me. Interest Rates Retail mortgage rates maintained their sub 5% position for the week. In a statement after its meeting this week the Federal Reserve made it a point to reiterate that its MBS program (to support...(read more)

Phoenix Metro Weekly Mortgage Update for December 12, 2009

2009-12-13T15:48:00Z

From one of our strategic partners : Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Important Update: A new program from the government for Short Sales and Deed-in-Lieu of Foreclosure was announced recently. The program is called the Home Affordable Foreclosure Alternatives Program (HAFA) and is part of the Home Affordable Modification Program (HAMP). The program provides financial incentives to servicers and homeowners who utilize...(read more)

Phoenix FHA Loans to Tighten in 2010

2009-12-11T03:20:00Z

Anyone who knows that they will be purchasing via an FHA loan in the coming months, but has been sitting on the sidelines, needs to get in the game NOW...if you are really serious about buying. HUD Secretary Shaun Donovan has promised that starting in 2010, it will become more difficult to qualify for an FHA loan. Some of the proposed changes are as follows: 1. Minimum credit scores will increase, with tighter underwriting guidelines (meaning less flexibility in your credit). Currently minimum credit...(read more)

Phoenix Metro Weekly Mortgage Update for December 5, 2009

2009-12-05T19:51:00Z

From one of our strategic partners : Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com FHA Update: The noise is becoming more frequent and intense about changes to FHA. Clearly new guidelines and changes are nearly upon us. Look for the minimum credit score to increase, bigger down payment, lower closing costs paid by the Seller (currently maxed out at 6% some think the new limit could be as low as 2%), possible increases in mortgage...(read more)

Phoenix Metro Weekly Mortgage Update for November 25, 2009

2009-12-01T20:06:00Z

From one of our strategic partners.... Burt Carlson Mortgage Consultant Smart Financial Mortgage Phoenix, AZ 85016 (602) 803-9660 (cell) burt@gosfm.com Interest Rates Market rates continued to stay below 5% and make buying a home very affordable. We are fast approaching the one year anniversary of mortgage rate in the low 5% range which compared with rates from recent years is actually mind boggling. At least one member of the Federal Reserve Board of Governors thinks the Fed should keep supporting...(read more)