Tuesday, November 24, 2009

to all my friends who may have children reaching home ownership years??

As i see many of my friends children growing up just like mine, i realized that with the governments extended 1st time buyers tax credit until next year ,2010 mid year, now could be a wonderful time to look for some under priced homes and condos while getting that $6500. freebie from the government . If you are any friends may have some interest , i would love to assist in your home finding quest . Many ,many underpriced homes and condos available in phoenix,scottsdale, glendale, mesa , and all surrounding areas in arizona.

Friday, November 20, 2009

job losses causing housing to tank for 5 more years

mortgage delinquency’s hit high numbers in phoenix arizona Despite the industry’s unprecedented efforts to keep people in their homes, there are more borrowers behind on their mortgage payments than there have been in 37 years. Even the end of the recession – which economists put at mid-summer – hasn’t slowed the decline in mortgage performance. The national delinquency rate for loans on one-to-four-unit residential properties rose to 9.64 percent in the third quarter, the Mortgage Bankers Association (MBA) reported Thursday. That figure is up 40 basis points from the second quarter of 2009, and up 265 basis points compared to one year ago. The Q3 delinquency rate breaks the record set last quarter, and is the highest ever recorded in MBA’s study, dating back to 1972. The delinquency rate includes loans that are at least one payment past due but not yet pushed into the foreclosure process. The percentage of loans in foreclosure at the end of the third quarter was 4.47 percent, and when combined with the number of past-due loans, it means a staggering 14.41 percent of all outstanding mortgages aren’t current – another record for MBA’s national delinquency study. According to Jay Brinkmann, MBA’s chief economist, job losses continue to be the primary driver behind the delinquency and foreclosure increases. “Over the last year, we have seen the ranks of the unemployed increase by about 5.5 million people, increasing the number of seriously delinquent loans by almost 2 million loans and increasing the rate of new foreclosures from 1.07 percent to 1.42 percent,” Brinkmann said. Unemployment seems to be hitting credit-worthy prime borrowers the hardest. Brinkmann says prime fixed-rate loans continue to represent the largest share of foreclosures started and are the reason for the overall increase in foreclosures. Thirty-three percent of foreclosures started in the third quarter were on prime fixed-rate mortgages and those loans were 44 percent of the quarterly increase in foreclosures. “The foreclosure numbers for prime fixed-rate loans will get worse because those loans represented 54 percent of the quarterly increase in loans 90 days or more past due,” Brinkmann said. The performance of prime adjustable-rate mortgages (ARMs), which include pay-option ARMs, also continue to deteriorate, MBA said. In contrast, both subprime fixed-rate and subprime adjustable-rate loans saw decreases in foreclosures. The foreclosure rate on Federal Housing Administration (FHA) loans also increased to 1.31 percent of the agency’s insured loans, based on MBA’s analysis. The number of FHA loans outstanding has grown by about 1.1 million over the last year, and according to Brinkmann, this increase depresses the current delinquency and foreclosure percentages, so the fact that those still jumped could signal more delinquency troubles to come for the federal agency. Once again the states of Florida, California, Arizona, and Nevada were home to a disproportionate share of the mortgage problems. According to MBA’s data, these usual suspects had 43 percent of all foreclosures started in the third quarter, 37 percent of the nation’s prime fixed-rate foreclosure starts, and 67 percent of all prime ARM foreclosures initiated. Florida leads the nation in poor mortgage performance. MBA reported that as of the end of September, 25 percent of home loans in the Sunshine State were at least one payment past due or in foreclosure. So what’s the outlook for the industry? Brinkmann says to expect delinquency and foreclosure rates to go even higher before they improve. His dim forecast is based largely on the nation’s unemployment picture, which he says won’t get any better until later next year and even then the pace of job increases will be slow out of the gate. In addition, Brinkmann noted that the number of loans 90 days or more past due or in foreclosure is now a little over 4 million. “The ultimate resolution of these seriously delinquent loans will put added pressure on the hardest hit sections of the country,” Brinkmann explained. Share this on del.icio.usDigg this! Posted by robert highsmith at 4:59 PM 1 comments: robert highsmith said

hoses are going into the tank for 5 more years

mortgage delinquency’s hit high numbers in phoenix arizona
Despite the industry’s unprecedented efforts to keep people in their homes, there are more borrowers behind on their mortgage payments than there have been in 37 years. Even the end of the recession – which economists put at mid-summer – hasn’t slowed the decline in mortgage performance.



The national delinquency rate for loans on one-to-four-unit residential properties rose to 9.64 percent in the third quarter, the Mortgage Bankers Association (MBA) reported Thursday.

That figure is up 40 basis points from the second quarter of 2009, and up 265 basis points compared to one year ago. The Q3 delinquency rate breaks the record set last quarter, and is the highest ever recorded in MBA’s study, dating back to 1972.

The delinquency rate includes loans that are at least one payment past due but not yet pushed into the foreclosure process. The percentage of loans in foreclosure at the end of the third quarter was 4.47 percent, and when combined with the number of past-due loans, it means a staggering 14.41 percent of all outstanding mortgages aren’t current – another record for MBA’s national delinquency study.

According to Jay Brinkmann, MBA’s chief economist, job losses continue to be the primary driver behind the delinquency and foreclosure increases.

“Over the last year, we have seen the ranks of the unemployed increase by about 5.5 million people, increasing the number of seriously delinquent loans by almost 2 million loans and increasing the rate of new foreclosures from 1.07 percent to 1.42 percent,” Brinkmann said.

Unemployment seems to be hitting credit-worthy prime borrowers the hardest. Brinkmann says prime fixed-rate loans continue to represent the largest share of foreclosures started and are the reason for the overall increase in foreclosures.

Thirty-three percent of foreclosures started in the third quarter were on prime fixed-rate mortgages and those loans were 44 percent of the quarterly increase in foreclosures.

“The foreclosure numbers for prime fixed-rate loans will get worse because those loans represented 54 percent of the quarterly increase in loans 90 days or more past due,” Brinkmann said.

The performance of prime adjustable-rate mortgages (ARMs), which include pay-option ARMs, also continue to deteriorate, MBA said. In contrast, both subprime fixed-rate and subprime adjustable-rate loans saw decreases in foreclosures.

The foreclosure rate on Federal Housing Administration (FHA) loans also increased to 1.31 percent of the agency’s insured loans, based on MBA’s analysis. The number of FHA loans outstanding has grown by about 1.1 million over the last year, and according to Brinkmann, this increase depresses the current delinquency and foreclosure percentages, so the fact that those still jumped could signal more delinquency troubles to come for the federal agency.

Once again the states of Florida, California, Arizona, and Nevada were home to a disproportionate share of the mortgage problems. According to MBA’s data, these usual suspects had 43 percent of all foreclosures started in the third quarter, 37 percent of the nation’s prime fixed-rate foreclosure starts, and 67 percent of all prime ARM foreclosures initiated.

Florida leads the nation in poor mortgage performance. MBA reported that as of the end of September, 25 percent of home loans in the Sunshine State were at least one payment past due or in foreclosure.

So what’s the outlook for the industry? Brinkmann says to expect delinquency and foreclosure rates to go even higher before they improve. His dim forecast is based largely on the nation’s unemployment picture, which he says won’t get any better until later next year and even then the pace of job increases will be slow out of the gate.

In addition, Brinkmann noted that the number of loans 90 days or more past due or in foreclosure is now a little over 4 million.

“The ultimate resolution of these seriously delinquent loans will put added pressure on the hardest hit sections of the country,” Brinkmann explained.

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Tuesday, November 17, 2009

phoenix arozona hous

phoenix arozona housing market booming again

It has been awhile f

It has been awhile for us to tell it like it is but the phoenix,scottsdale,glendale housing market is very busy again,both in sales and in pricing. You can move into a 4 bed 3 bath home for $150,000 that may have sold for as much as $400,000 a couple years ago. I am a full service realtor specializing in golf course homes , pool homes, great school districts , and the best service and pricing that is available. I offer free multiple listings of homes, sent to you via email with comps for the areas you may like .Grayhawk, D.C RANCH, mcdowell mountain ranch, desert ridge, arrowhead ranch and all the lovely areas of phoenix arizona .IF you want to start your homebuying experience without the stress , i can help the moving experience seem like a vacation. please call or email for a private and discreet update on your buying or selling opportunities.

Monday, November 16, 2009

appraisiers and loan

appraisiers and loan originators cause phoenix arizona housing collaspe

I just did an open h

I just did an open house in scottsdale, arizona saturday and sunday where the example of crookedness was running wild. I sat a home that at its top value in 2007 circus real estate value days was worth maybe $350,000. When i got to the front door saturday to open up my party, a notice of trustee sale was posted on the door , i quickly took it off and read it,. It showed the unpaid mortgage on this home was $564,000 original note balance. Was i floored or what , as it took, a shifty appraiser to cook the books , a shiftier mortgage loan originator , to cook the application , and show supporting values , and an unwitting, or lame underwriter with a habitual meth habit to look at this and allow it to be accepted and fund the loan . The poster child of loan fraud is phoenix ,arizona, or your town usa .The home is now listed as a short sale for $250,000 and still has had no offers , , in foreclosure and a sale date next month. SO HERE IS ANOTHER reo going on the market next year for maybe $178,000 and your caveman realtor 911 Robert Highsmith will be showing it again, after the blood and carnage continues to ravage phoenix, scottsdale, and glendale arizona. Think of how many people made money off this ridiculous sale back then, the butcher , the baker , and the candlestick maker, yes it was like a fairy tale. OBAMA WHERE ARE THE REGULATOR? I just did an open house in scottsdale, arizona saturday and sunday where the example of crookedness was running wild. I sat a home that at its top value in 2007 circus real estate value days was worth maybe $350,000. When i got to the front door saturday to open up my party, a notice of trustee sale was posted on the door , i quickly took it off and read it,. It showed the unpaid mortgage on this home was $564,000 original note balance. Was i floored or what , as it took, a shifty appraiser to cook the books , a shiftier mortgage loan originator , to cook the application , and show supporting values , and an unwitting, or lame underwriter with a habitual meth habit to look at this and allow it to be accepted and fund the loan . The poster child of loan fraud is phoenix ,arizona, or your town usa .The home is now listed as a short sale for $250,000 and still has had no offers , , in foreclosure and a sale date next month. SO HERE IS ANOTHER reo going on the market next year for maybe $178,000 and your caveman realtor 911 Robert Highsmith will be showing it again, after the blood and carnage continues to ravage phoenix, scottsdale, and glendale arizona. Think of how many people made money off this ridiculous sale back then, the butcher , the baker , and the candlestick maker, yes it was like a fairy tale. OBAMA WHERE ARE THE REGULATOR? I just did an open house in scottsdale, arizona saturday and sunday where the example of crookedness was running wild. I sat a home that at its top value in 2007 circus real estate value days was worth maybe $350,000. When i got to the front door saturday to open up my party, a notice of trustee sale was posted on the door , i quickly took it off and read it,. It showed the unpaid mortgage on this home was $564,000 original note balance. Was i floored or what , as it took, a shifty appraiser to cook the books , a shiftier mortgage loan originator , to cook the application , and show supporting values , and an unwitting, or lame underwriter with a habitual meth habit to look at this and allow it to be accepted and fund the loan . The poster child of loan fraud is phoenix ,arizona, or your town usa .The home is now listed as a short sale for $250,000 and still has had no offers , , in foreclosure and a sale date next month. SO HERE IS ANOTHER reo going on the market next year for maybe $178,000 and your caveman realtor 911 Robert Highsmith will be showing it again, after the blood and carnage continues to ravage phoenix, scottsdale, and glendale arizona. Think of how many people made money off this ridiculous sale back then, the butcher , the baker , and the candlestick maker, yes it was like a fairy tale. OBAMA WHERE ARE THE REGULATOR? I just did an open house in scottsdale, arizona saturday and sunday where the example of crookedness was running wild. I sat a home that at its top value in 2007 circus real estate value days was worth maybe $350,000. When i got to the front door saturday to open up my party, a notice of trustee sale was posted on the door , i quickly took it off and read it,. It showed the unpaid mortgage on this home was $564,000 original note balance. Was i floored or what , as it took, a shifty appraiser to cook the books , a shiftier mortgage loan originator , to cook the application , and show supporting values , and an unwitting, or lame underwriter with a habitual meth habit to look at this and allow it to be accepted and fund the loan . The poster child of loan fraud is phoenix ,arizona, or your town usa .The home is now listed as a short sale for $250,000 and still has had no offers , , in foreclosure and a sale date next month. SO HERE IS ANOTHER reo going on the market next year for maybe $178,000 and your caveman realtor 911 Robert Highsmith will be showing it again, after the blood and carnage continues to ravage phoenix, scottsdale, and glendale arizona. Think of how many people made money off this ridiculous sale back then, the butcher , the baker , and the candlestick maker, yes it was like a fairy tale. OBAMA WHERE ARE THE REGULATOR?

Real Estate Blog - apprasials and loan mortgage originators cause phoenix housing market collapse

Real Estate Blog - apprasiaIt had to happen with all the foreclosures, repossessions, and bank owned non modified homes coming back onto the market. Have you ever seen so many so called banks untrained work out non specialist screw up a families home ownership experience? I have seen many clients , who sincerely tried to do loan modifications only to get jacked around from the lenders for months , then end up loosing there home because some $7.00 an hour over worked , untrained, and with a altitude clerk , kept blowing there file off. Have you heard the same old bulls@#$ about , WE LOST YOUR PAPERWORK, ITS NOT BEEN ASSIGNED TO A LOSS MITIGATOR YET, YOUR 8000 FAXES WERE NEVER RECIEVED, your current on your payment, and we can only help people who are WILLING TO TRASH THERE CREDIT TO GET OUR ATTENTION? I am mad as hell and we are not going to take it anymore , so owner carryback , seller carryback, owner financing, wrap agreement for sales , and all kinds of creative financing , including lease purchases , and lease options will be hitting your cities asap as the real estate lending system has broken down. TRY and get a jumbo loan on a $500,000 home in scottsdale , phoenix, glendale or mesa arizona now, and if you do not have 30 percent down and an 800 fico score , you may have a problem.SO WHERE DO THE move up buyers go ?,How do they sell there $300,000 home? How do they get a full price retail buyer offer on theres when there are 7 foreclosures in there neighborhood , selling for 1/2 of there listed price? Time should work this out but for now phoenix arizona is the poster child for all the crap that is taken down there housing market in your city usa .Now that i have that out for the rest of you to ponder , i am going to do an open house in scottsdale arizona today.

ls and loan mortgage originators cause phoenix housing market collapse

Wednesday, November 11, 2009

some say the housing crisis is still happening , only deeper

Delinquencies and Foreclosures at Record Highs, with Shadow Inventories Looming: LPS Report
11/10/2009 By: Carrie Bay
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Even as home prices are beginning to show signs of stabilizing and the industry is ramping up efforts to keep troubled borrowers in their homes, the latest market study from Jacksonville, Florida’s Lender Processing Services (LPS) shows that mortgage delinquencies and foreclosures remain alarmingly elevated.

The company’s October Mortgage Monitor report also cites large “shadow” foreclosure and REO inventories. Thenumber of loans deteriorating further into delinquent status is now more than twice the number of foreclosure starts, indicating another major wave of troubled loans in an already clogged loan pipeline, LPS said.
Nearly one-third of foreclosures remain in pre-sale status after 12 months – twice as many as the year prior, LPS said in its study, further adding to the threat of a shadow eclipse. In addition, the six-month average deterioration ratio on troubled mortgages has risen the past two months to 300 percent, showing that for every loan that improves in status, three more deteriorate further, LPS explained.

LPS’ October Mortgage Monitor reveals record high rates for non-current loans. The company reported that total U.S. delinquency rate stood at 9.37 percent at the end of September, while the nation’s September foreclosure rate hit 3.12 percent – a month-over-month increase of 2.6 percent and a year-over-year increase of 88.9 percent.

Among individual states, it comes as no surprise that Florida posted the most troubling results, with 10.4 percent of loans in foreclosure and more than 12 percent more delinquent.

Other states reporting high levels of non-current loans – which includes both foreclosures and delinquencies as a percentage of active loans in the state – were Mississippi, Georgia, and Michigan, as well as the usual high-foreclosure states of Nevada, Arizona, and California.

The one positive reported by LPS was an upswing in loan production volume over the previous year. Year-to-date 2009 loans totaled 2,032,973, LPS said, versus 1,903,723 for the same period in 2008.

Tuesday, November 10, 2009

housing crisis far from over seller carry backs ready for market

comes from years of experience i have with the seller carry backs, seller financing , owner financing, no qualifying, and creative financing, that has been going on for along time in phoenix,arizona. There is a place for these contracts when buyers are short on downpayments ,, but mostly for families who have bad credit, no credit , low fico scores , and past financial problems. Lets get it straight , there are good ones ,and there are bad ones for a buyer to enter into with CREATIVE FINANCING , and heres an example of the bads ones.For instance a seller buys a reposession, or foreclosure home from the bank, for lets say $140,000 and spends $10,000 on remodeling, rehabbing, and improvements, thus his cost basis is now $150,000, he list it with a realtor , for say $200,000 and accepts a 10 percent downpayment from the no qualifying buyer, with a 2 year call date on the purchase contract. The buyer is happy as he has bought a home with marginal credit, and now looks down the road to the refinancing date in 2 years , to payoff the seller carryback, contract. Now , he may or may not know the owner just made a $50,000. profit on this flip,and many things can and do go wrong, in the next 2 years.THE OWNER GETS YOUR DOWNPAYMENT, USUALLY THE REALTORS HAVE TO WAIT TO GET PAID, ONLY IF THE CONTRACT ACTUALLY CLOSES IN THE 2 YEARS, PERIOD. The REAL PROBLEM IN TODAYS MARKET IS THAT HOME THAT IS UNDER CONTRACT FOR $200,000 IN 2 YEARS , MAY NOT APPRAISE FOR THAT AMOUNT , BASED ON TODAYS MARKET CONDITIONS, SO IF THE BUYER CANNOT GET THE NEW LOAN, TO PAY OFF THE SELLER , HE WILL LOOSE THE HOME , BACK TO THE SELLER , UNLESS NEW TERMS ARE AGREED UPON, the seller CAN ONLY WIN, the BUYER CAN ONLY HOPE FOR A TIE, WITH THE POSSIBILITY OF LOOSING THE DOWNPAYMENT, APPRAISAL FEE, APPLICATION,FEE, AND TIME. So can you see the buyer beware red flags waving when you buy a home from a flip and grow rich seller ?Many investors are setting up these reo s repossession, bank owned , and trustee sale purchases , to fix and flip, and when the markets gets tough to sell them , they offer easy terms, and sizzle to get in the marginal buyers. WARNING ,always use a realtor , to represent you as they have the skill to research the property and see the real cold hard facts for you

Monday, November 9, 2009

Thursday, November 5, 2009

realtor 911 has news you will not believe

Depression
Propaganda

It’s obvious to me that there is some serious propaganda being pushed into the minds of consumers today. There are some interesting contradictions in the headlines. I also came across some news headlines from the Great Depression. They sound strikingly familiar to this downturn.Contradictions
1. We are in the country’s worst housing downturn since record-keeping began in the late 19th century - But the recession is ending…we are seeing a recovery.Nearly half of recent sales have been attributed to foreclosures or “short sales” at bargain-basement prices. –2. The Treasury Department’s assistant secretary for financial institutions, recently said more than 6 million families could face foreclosure over the next three years - Realtor.org reported on October 19th that: “All the leading indicators say housing is definitely on the mend... Read More

realtor 911 has more

realtor 911 has more crazy news on the housing market you will not believe it

Tuesday, November 3, 2009

Caveman Realtor Learning 21st Century BizTech

Ok i admit it as a realtor here in scottsdale arizona for 15 years now. We are having to change and update our knowledge in how to market our services for buying and selling real estate in the phoenix, scottsdale , glendale and mesa arizona. I have dove into the social media world of learning to blog, text, and post into and onto the major players of business info sites and social media leaders. So i have entered the world of active rain .com , wordpress .com, blogger.com, facebook, twitter, you tube , hellotxt.com, google .com , linkedin.com , homes.com, propertynut.com , to name a few , as i continue to go to the workshops on how to actively use all this info , i do feel overwhelmed, my kids whiz thru this as well as most of you. I was trained to actively represent both buyers and sellers in traditional real estate adventures , and now in the current post depression era, of phoenix arizona , as well as your city , usa , the owner carry , seller carryback, no qualifying , and lease purchse business is starting to actively come back into the marketplace . I would like to invite anyone who is doing business in todays market , in any business arena to get off the surfboard for a while ,get out of the water, and get into the 21st century of social media for building a business. REMEMBER, ITS SO EASY A CAVE MAN CAN DO IT ????

Need Seller Owner Carry Back Financing to Buy a Home

Real Estate owner and seller carry back financing is more available when a conventional mortgage is difficult to quality for. Seems logical, but few Realtors are familiar with the options for creative financing so you'll need to take your home, condo or any property search to an Agent that can find several properties to show you. Check out All My Agent properties now and call me to get help in your search for a creative owner seller carryback purchase.

Thank you,

Robert Highsmith, Realtor WestUSA Realty, Phoenix Arizona
480-250-8020 call 7 days a week