Wednesday, April 30, 2014
30-Yr Mortgage Rate Edges Higher To 4.33% – Freddie Mac
30-Yr Mortgage Rate Edges Higher To 4.33% – Freddie Mac
By Michael Aneiro
Mortgage rates rose a bit in tandem with Treasury yields in the latest week, with the average 30-year fixed-rate mortgage rate climbing to 4.33% in the week ended today from a six-week low 4.27% a week ago, according to Freddie Mac’s (FMCC) latest weekly Primary Mortgage Market Survey. A year ago that rate averaged 3.40%. The average 15-year fixed-rate mortgage rate rose to 3.39% from 3.33% a week earlier and 2.61% a year ago.
A similar 30-year mortgage rate measured by the Mortgage Bankers Association’s latest weekly survey rose to 4.49% in the latest week from 4.47% a week earlier. The average rate for jumbo loans of more than $417,000 remains below the rate for smaller loans, rising to 4.41% from 4.39% a week ago. That survey also showed mortgage applications fell by 3.3% in the latest week.
For More Information about Homes for Sale in Goodyear and Phoenix Metro Call Rodney Barnes Real Estate at 623-217-7548 or visit Http://www.RodneyBarnesRealEstate.com
Wednesday, April 23, 2014
Many HOAs Are Underfunded
Many HOAs Are Underfunded
More homeowners' groups may be operating with insufficient reserves, which could one day result in an unexpected increase in costs to home owners.
An estimated 70 percent of association-governed communities are underfunded, a rise from 60 percent a decade ago, according to a new report from the consulting firm Association Reserves.
Associations that lack adequate reserves may impose large special assessments for emergency repairs, says Robert Nordlund, Association Reserves' founder. What’s more, home owners who don’t pay could then face liens against their property, or the association could even have the power to foreclose on them.
Housing experts urge home buyers to ask for a copy of the homeowner group’s most recent reserve study and ask about the percentage of residents who are more than 60 days delinquent on their fees. It affects the association’s cash flow, and when “you’re buying into a nonprofit corporation, you need to find out if that corporation is stable,” Nordlund notes.
Source: “Homeowners Associations Are Short on Cash,” Kiplinger’s Personal Finance (April 2014)
For more information on Goodyear and Phoenix Metro Homes for sale. Call Rodney Barnes Real Estate at 623-217-7548 or visit http://www.RodneyBarnesRealEstate.com
Wednesday, April 9, 2014
Do Organic Home Remedies for Lawn Care Work? Check this out from Rodney Barnes Real Estate
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(New!)
Do Organic Home Remedies for Lawn Care Work?
Think you’re smart and thrifty feeding flat beer to your lawn? Think again. Home remedies for lawn care may cost you more than you think. Read
Visit houselogic.com for more articles like this.
Copyright 2014 NATIONAL ASSOCIATION OF REALTORS®
Monday, April 7, 2014
Shadow Inventories Are Quickly Vanishing, Report Says
Shadow Inventories Are Quickly Vanishing, Report Says
Shadow Inventories Are Quickly Vanishing, Report Says
For the past three years, the shadow inventory has declined year-over-year and posted double-digit declines for the past 16 consecutive months as the housing market continues to heal, Anand Nallathambi, president and CEO of CoreLogic, says in the company’s February 2014 National Foreclosure Report.
The national residential shadow inventory was 1.7 million homes in January – a 23 percent year-over-year drop from 2.2 million in January 2013. Foreclosures also continued to fall last month, dropping to 43,000 in February, 15 percent lower than year ago levels.
“Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure and shadow inventories,” said Mark Fleming, chief economist for CoreLogic. “Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the shadow inventory.”
Over the past year, shadow inventory has been falling at an average monthly rate of 41,000 units, CoreLogic reports. The states that hold 42 percent of all distressed properties in the nation are: Florida, California, New York, New Jersey, and Illinois.
Other highlights from the report:
- About 752,000 homes were in some stage of foreclosure or known as “foreclosure inventory” as of February 2014 – a 35 percent drop over year ago levels.
- 1.9 million mortgages – or 4.9 percent – were in serious delinquency by the end of February. Serious delinquency is defined as loans that are 90 days or more past days and includes loans in foreclosure or REO.
- The five states with the highest foreclosure inventory in February (as percentage of all homes with a mortgage) were: New Jersey (6.2%); Florida (6%); New York (4.7%); Maine (3.4%); and Connecticut (3.2%).
- The five states with the lowest foreclosure inventory in February were: Wyoming (0.3%); Alaska (0.4%); North Dakota (0.5%); Nebraska (0.5%); and Colorado (0.6%).
For more information about Homes for Sale in Goodyear AZ. Call Rodney Barnes Real Estate at 623-217-7548
Wednesday, April 2, 2014
Most expensive homes sold in metro Phoenix this past week
Wells Branch Enid Ltd., a Texas limited partnership whose principals are Marvin and Norma Myers through their MN-Wells Branch LLC, paid $7.15 million in cash for a 14,511-square-foot house with a pool built in 2010 on nearly 2½ acres northeast of the Silverleaf Club in Scottsdale.
$7,150,000
Wells Branch Enid Ltd., a Texas limited partnership whose principals are Marvin and Norma Myers through their MN-Wells Branch LLC, paid cash for a 14,511-square-foot house with a pool built in 2010 on nearly 2½ acres northeast of the Silverleaf Club in Scottsdale. Marvin Myers, who died in 2011, was a Dallas developer who developed and built over 20,000 single family and apartment homes. His wife, Norma, oversees the interior design of Conservatory Senior Living communities and is responsible for the asset management. It was sold by Carey S. Williams through his trust. Carey Williams is CEO of WR Group Inc., a distributor of skin-care products with headquarters in Scottsdale.
$6,850,000
Villa 14, a Delaware limited liability company, bought a 7,223-square-foot house with a pool built in 2000 northeast of Mummy Mountain in Paradise Valley. The home was sold by John and Susan Carlyle. He is CEO of Sheridan Healthcare in Sunrise, Fla.
$6,500,000
Mark and Melissa Matson purchased a 9,738-square-foot house with a pool built in 2008 in the Silverleaf Club in Scottsdale. He is the founder and CEO of Matson Money Inc., an investment advisor firm based in Cincinnati. The house was sold by Robert and Rosalind Cauffman. He served as president and chief operating officer of Dopaco Inc., a manufacturer of paper goods for the restaurant and foodservice industries in the U.S. and Canada. It became a subsidiary of Reynolds Group Holdings Ltd. in May 2011.
$4,160,000
Stuart Moss paid cash for a 11,675-square-foot house with a pool built in 2008 at Camelback Lands in Paradise Valley. The home was sold by Francis and Dafna Madia through their limited liability company. Francis "Frank" Madia is president of Equitable Home Mortgage in Scottsdale.
$3,600,000
Christopher and Irene Biggs purchased a 7,223-square-foot house with a pool built in 2000 northwest of McCormick Park in Paradise Valley. Christopher Biggs is a radiation oncologist, and Irene Biggs is a pediatrician, both practicing in the Valley. The house was sold by Scott and Catherine Allen. He is president of Cash Time Title Loans, located throughout the Phoenix and Tucson areas.
Researched by John McLean and the Information Market.
Call Rodney Barnes Real Estate for information about Homes for Sale in Goodyear AZ. 623-217-7548
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