Arizona Loaned

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    FHA Announces Price Cuts to Encourage Streamline Refinancing

    Millions of FHA borrowers could save average of $3,000 a year WASHINGTON – Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012, FHA will lower its Upfront Mortgage Insurance Premium (UFMIP) to just .01 percent and reduce its annual premium to .55 percent for certain FHA borrowers. To qualify, borrowers must be current on their existing FHA-insured mortgages which were endorsed on or before May 31, 2009. Late last month, FHA also announced it will [...]

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    Tips for Selling Your Home in a Down Phoenix Market

    While the economy is improving, and the Phoenix real estate market is showing signs of renewed life, it can still be difficult to sell your home these days. Believe it or not, there are some fairly simple things you can do to help get that SOLD sign in your front yard. These little things can mean the difference between your house sitting on the market for months and a speedy transaction. I’ve found an article I’d like to share with you from Business Insider Magazine. “12 Ways To Sell Your House In This Crappy Market” To buy or sell in [...]

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    Resource: The December Cromford Report

    The Cromford Report is a monthly snapshot of the Phoenix housing market. If you are in the industry, or thinking about buying a home, it is a great resource. Below is a summary of the December report, but you can download the full version in our Arizona mortgage resource center. Greater Phoenix – Single Family Detached Market Headlines Except above $800,000, sales prices in $/SF are now higher than a year ago. Inventory is falling again for all price ranges. Above $400,000 demand remains relatively weak. Lender-owned inventory is still falling and REOs are losing market share in sales. Active [...]

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    Facing Foreclosure in Arizona? Don’t Get Scammed!

    Losing your home is the last thing you want to have happen, and when faced with the daunting shadow of foreclosure, it’s hard not to grab on to any shape of hope that comes within reach – however – fraudulent franchises exist, and it is of course in your best interest to protect yourself with the knowledge needed to identify a scam when you see one. Companies may try and sell you on the ‘facts’ (a term used very loosely here), claiming they will be able to reduce your monthly mortgage payments and et cetera in order to rope you [...]

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    Resource: The October Cromford Report

    The Cromford Report is a monthly snapshot of the Phoenix housing market. If you are in the industry, or thinking about buying a home, it is a great resource. Below is a summary of the October report, but you can download the full version in our Arizona mortgage resource center. Greater Phoenix Single Family Detached Market Headlines A big contrast exists between the market under $200,000 and the market above that figure Enthusiastic buying below $100,000 is causing significant price rises as inventory becomes tight. Above $200,000 the market continues to deteriorate slightly. Above $400,000 there is potential for further [...]

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    Tip of the Week: QR Codes

    I’m sure you’ve all seen these two dimensional barcodes around lately, and you may have wondered just what the heck are they? More importantly why are they seemingly all over the place? Well, in this Tip of the Week, I explain these strange looking codes, and tell you how you can decipher them for yourself.

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    Choosing a Loan Officer: How Do I Decide Who’s Right for Me?

    When it comes time to buy a home or refinance the mortgage, finding a quality loan officer can be a daunting task. After all, this is probably the largest transaction you’ll be involved with during your lifetime, so understandably you want it handled by the right person. Here are 5 things to consider when selecting a loan officer. 1. Style – Many consumers overlook this aspect, but often our gut is a strong indicator of who will feel most comfortable with, regardless of how amazing the loan officer appears. Style refers to the lender’s personality, and how they go about [...]

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    What Are My Mortgage Options in Arizona?

    I can’t think of a better realization of the American Dream than owning your own home. As the owner of Prostaff Mortgage right here in Phoenix, I’m blessed to help people lay claim to their dream every single day. When it comes to taking that step and buying your own home, you have a few paths you could travel. I’d like to take a few minutes and talk about your mortgage options. I’m going to talk about three different loan types, and depending on your circumstances, each and any might be the right home loan for you. The loans I [...]

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    Has the Real Estate Market in Phoenix Stabilized?

    First to go down, first to come back up – at least, that’s what it’s been looking like for Phoenix’s Real Estate market. Inventory data analysis services supplied by the Cromford Report show that we aren’t as dire as we once were. As other markets continue to experience falling prices, Phoenix has been at the forefront of the list of markets to stabilize, as our prices have been quite steady through the most of this year, which is fantastic to see. This has a lot to do with our shrinking inventory – obviously, less houses on the market means more [...]

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    Phoenix Real Estate Market Slowly Recovering

    A study earlier in the June of 2011 showed that the Phoenix Real Estate market has had an increase of sales by 1.5% from the data of the previous year’s June, with an 8.3% increase from the month prior to this year’s statistics being collected. Now, 1.5% may not be something to break that bottle of champagne that you’ve been saving since your first marriage, however – before you go back to thinking that we as a real estate market are still in the middle of our across the board flat line, hear this: 1.5% is still progress, and even [...]