Well kept Villa home in the beautiful Corte Bella Subdivision! Subdivision boasts lush landscaping, golf course, community center, clubhouse, resturants, tennis courts, fitness center, trails and parks, community pool and spa, and so much more! This beautiful two bedroom home is a split floorplan. Large tile is throughout home except bedrooms. Kitchen has raised maple cabinetes, corian countertops with built in sink, breakfast bar, gas range, buffet counter and cabinets, sliding glass doors to patio! Home has very large master bedroom, double sinks in master bathroom, large walk in closet. Guest bedroom has walk in closet and is very good size. Great seasonal winter home, investment property or primary home for those who enjoy an active lifestyle!

Nice subdivision with plenty of open green space and common areas! Owners are in the midst of packing so pictures represent the home when it was vacant before they moved in. Home has French Doors leading to back patio. Home has black appliances and cherry color cabinets. Home has cherry stained stairwell banister. Great investment home or for first time home buyer!

This is not a SHORT SALE or BANK OWNED property! Absolutely gorgeous BLOCK home that has recently been repainted inside and outside! Features include RV gate, formal living and dining room, HUGE kitchen w/kitchen island AND breakfast bar and LOTS of cabinets, black appliances, cherry stained cabinets w/hardware. Home boasts a FULL bedroom and bathroom downstairs. Upstairs master suite is large and has vaulted ceilings and walk out balcony. Master bathroom has double sinks and seperate tub/shower. Guest bedrooms upstairs each have walk in closets and jack-n-jill style bathroom! Wood blinds, upgraded carpet and tile throughout. LARGE backyard! This home will not last! Seller just renewed Home Warranty until May 2011.

Properties, which are called assets by the bank, are increasing in numbers on the banks books. This shows that we are still a ways from climbing out of this type of housing market and all the government programs to curb foreclosures are failing.

Unfortunately, all government sponsored programs have very strict criteria to be eligible and are all voluntary by the banks to participate. This does not make for a winning combination to help main street America.

According to Moody, the biggest factors in the low conversion rate is failure to provide documentation to the lender and negative equity in the home. The payments offered to homeowners are not motivating enough for most homeowners to remain in their home while it is severely upside down.

Most critics have called HAMP a failure. There is a high percentage of default on the permanent loan modifications within the first six months. With high unemployment, severe negative equity, and less to be desired loan modifications, most critics don't expect it to get any better. As a matter of fact, most think the loan modification craze is running its course now that the Administration has focused on short sales as an alternative to foreclosure.

On April 5th, 2010 the HAFA program was rolled out but is voluntary by banks to participate. HAFA is a streamlined short sale process. Due to restrictions and qualification standards most homeowners will find they don't qualify for this program either.

"The angst of investors around the globe about European debt, slower growth in China, and saber-rattling on the Korean Peninsula all feed into what is known as the ‘fear trade,’” Bankrate said in its report. “That fear trade has helped bring yields on U.S. Treasury securities considerably lower and mortgage shoppers have been direct beneficiaries.”

This could be a extraordinary time to purchase a home and get an interest rate of five percent or lower! Rule of thumb, each time interest rates rise or fall one percent, then payment adjusts one 19 percent! Interest rates are expected to reach six percent this year or by end of year. So jump in now or pay 19 percent higher payment when you do decide to buy.

April 30th, 2010 was the deadline for the TAX CREDIT folks! To receive the tax credit you have to LIVE in the home. You had to have a signed and official purchase contract on a home by midnight on 4/30/2010 to receive the tax credit. Do you think this would contribute to an uptick in primary home buyers for the month of April?

Now, I don't want to be a Debbie Downer on the housing market. There are some remarkable positives going on. Loan rates are so low that most will be kicking themselves for not buying now when they see rates 6% and higher. Guess what folks, that will happen. Why? Because it has to.....that is another blog subject though.

Another positive? Prices are LOW!!!! Housing is so undervalued right now, it is not even funny. Most people can own a home cheaper than what they pay in rent. Who doesn't want that?

Did I mention the tax breaks associated with owning a home? No, I didn't...but there are some! Just talk to your accountant!

I don't have a problem with positive housing articles, I'm a Realtor. I want positive news on housing! However, I also want you to have a clear and true picture of what is happening in the market. Don't let one month be your guide. All growth needs to be sustainable and not have government intervention. Give us a few quarters of pending home sales and all the great housing news. That will be something to tell all your friends about!

Banks cite high unemployment as a major factor in their inability to modify mortgages. That makes sense, if you don't have the income, how can you pay a mortgage?

Please remember that most economist project on a national level. Real estate is regional and local. Unfortunately, this news is not good news for us. Nationally the real estate numbers are better than what regionally and locally our real estate numbers are. For example, Arizona leads with Nevada, California and Florida for most foreclosures and price declines. So when researching your real estate news make sure your facts and figures are local and not based off national projections.

Click here to read full article: http://www.reuters.com/article/idUSN1923337220100519?type=marketsNews

Beautifully upgraded home located in high demand neighborhood! Home located on cul-de-sac street with park, walking paths, playground located at end of cul-de-sac. Upgraded flooring throughout home, granite countertops, maple cabinets with hardware, high vaulted ceilings and lots of planter shelves located throughout home. White wood trim around all windows, upgraded shutters and Roman blind treatments. Master bedroom split floorplan, separate master bedroom exit to outside. Beautifully remodeled master bathroom with custom mirrors and lighting, grantite top vanities, tile surround around tub and shower, glass block above jetted tub. Large backyard with private pool and waterfall. Grassy area for dogs or kids to play! Full length covered patio.

Despite kicking the can down the road, not much has changed. Very little homeowners have permanent loan modifications, 2nd lien holders and PMI companies continue to hold the short sale process hostage, and our recovery has been delayed with all the stall tactics mentioned above.

Is is bad that all these foreclosures are happening? Yes and no. Itis unfortunate that people are losing their homes, neighorhoods are being blighted, prices are declining. However the bright side is, once they are worked through then the market can really recover. We HAVE to work through the foreclosures. Shutting our eyes and pretending they are not there does not make it so.

A few weeks ago Bank of America was reported to start reducing principle on mortgages. However, read a little further. They reported only on a small number of loans, sub-prime loans, and they have already targeted those homeowners.

Unfortunately, many Americans still feel like some fairy godmother is going to swoop in and rescue them from this mortgage nightmare. However, you need the facts, the real facts to make a good financial decision.

If you want a REAL understanding of what is going on and if help is on it's way to you, contact me and let's discuss your situation.

 A beautiful, clean, only one mile from Westgate Stadium! TWO MASTER BEDROOMS! Both bedrooms have their very own bathroom and half bath downstairs for guests! This unit has nice laminate wood flooring throughout! Home has two tone paint in neutral colors and fireplace in living room! Kitchen has lots of cabinets and sliding glass doors off dining area. Small back fenced patio area for grilling or entertaining! Complex is located across street from golf course and lake! Community pool and spa! Front of unit has small porch. Lush green landscaping throughout complex! Parking in front of unit for easy access!

A beautiful two bedroom, 2 bath condo in the high demand adult community of Westbrook! Westbrook is located in North Peoria and within 10 minutes of Loop 101 freeway, Arrowhead Mall, Restuarant Corridor off Bell Road, Theaters and entertainment! Westbrook is close to Spring Training Facility! All tile flooring throughout home! Inside washer/dryer, soft water loop, sliding glass doors off master bedroom and family room! Formal dining and dining in kitchen! Golfing, community pool and spa, community center and restuarant!

It is estimated that one million homeowners will be aided by the loan modification program, however, the program had estimated four million when implemented. It is falling way short of that goal. In addition, lots of loan modifcations are only for five years and critics complain that the program is just kicking the foreclosure can down the road for most homeowners.

For every one homeowner saved, using $50 billion in TARP funds, 10 homeowners have gone into foreclosure. Strict guidelines that most people do not meet and lack of lender motivation is blamed for the failure.

 Mr and Mrs Clean lived here! MOVE IN READY! Carpets were just professionally cleaned and looks brand new! Nice two tone paint throughout, pantry in kitchen, stainless steel appliances in kitchen, built in microwave. Very large laundry room and extended covered back patio. Paneled doors throughout. Home has lots of space! Four bedrooms PLUS a loft! Half bathroom downstairs!

 Beautiful home with pride of ownership located in high demand Dreaming Summit subdivision. Home located in cul-de-sac! Home has split stairwell where you can go upstairs from Formal living area or off of kitchen! Home has four bedrooms, a den downstairs and a loft! Home has upgraded tile and flooring, beautiful custom pain, coffered ceiling in dining room, kitchen island, wood blinds throughout! Backyard has large patio and added concrete in back for patio furniture, BBQ, etc. Home has three car garage! Master bedroom has vaulted ceilings. HOA includes garbage and sewer

As with all government intervention certain criteria applies. Please call me to discuss if you are seeking alternatives to foreclosure.

Consultant at Oliver Wyman calculated that in 2008 17 percent of owners were defaulting. Some chose to default despite that they could afford the mortgage. This trend is increasing as homeowners realize it will take ten to twenty years, sometimes more to break even on their homes. For those close to retirement, they are thinking walking away is their best option.

First American estimates that it would take $745 billion, the same amount as the first stimulus pacakge, to restore all underwater homeowners to the break even point.

A big complaint about "bailing" out homeowners are from the homeowners who are current on their mortgage and are not likely to walk away. They feel this is unfair to them. However, according to Michael Barr, Assistant Treasury Secretary for financial institutions, doing nothing would be another blow to the already fragile economy.

Source: The New York Times, David Streitfeld (02/022010)

Government programs aimed at helping homeowners stay in their home have failed. Only one percent of the four million loans have been targeted for loan modification. It appears the government has all but given up on trying to get banks to modify loans. Starting April 2010 the Treasury has implemented timeframes to expediate short sale approvals for select banks.

Please visit www.ishortsaleaz.com to read about avoiding foreclosure and helping you answer your questions on what's best for your family.

However, home prices are still dropping to some degree, according to ASU. The year-to-year declines have been going on for a record 32 consecutive months. Home prices peaked in mid-2006.

Of course, this is good news but is all depending on the economy and job market. If employment continues to slide then home values could continue to decline.