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.
Share this on del.icio.usDigg this!
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!
Tuesday, November 17, 2009
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
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?
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