Friday, October 29, 2010
Gorgeous New Homes In Chandler w/ Great Incentives
Enjoy a BBQ without leaving your neighborhood at the Comm. Pool & Spa w/ Ramada’s and Tot Lots. Energy efficient 2,097 sq ft, 4 bdr, 3 baths, inspired kitchens for aspiring chefs, just $243,000 & 2% towards financing and 3% towards upgrades. Call The Pete Dijkstra Team Today!! 480-812-9200. PIN # 289
Thursday, October 28, 2010
NEW NEW NEW IN GILBERT AT $137,990 & $10,000 IN INCENTIVES!
With a price of $137,990, plus $10,000 in incentives, now you can. Terrific in every way this home features 3 big bedrooms, 2.5 baths, and a spacious island kitchen. Wonderful master planned community with 2 pools, BBQ ramadas, basketball courts, sand volleyball courts & close to freeway access. Call Pete Today! 480-812-9200 or 800-318-8330. PIN #282.
BUY NEW IN GILBERT AT $147,990 & $10,000 IN INCENTIVES
Featuring 3 big bedrooms, 3 baths, 1,820 sqft, wrap around kitchen, study space and a large 2 car garage at $147,990! Located in a master planned community with 2 pools, basketball courts, sand volleyball courts, tot lots & more! Close to the new San Tan Village mall and best of all, you can get to the freeway in minutes. Call Pete Today! 480-812-9200 or 800-318-8330. PIN #280.
WWW.ANYAZHOME.COM
WWW.ANYAZHOME.COM
ON HUGE LOT IN GILBERT W/ POOL!
Cozy 1,867 sqft Gilbert home with den, loft, wood flooring, two tone paint, recently replaced carpets, water softener, ample storage, and 2 car garage with built in shelving. Upstairs is the loft, laundry room, and 3 bedrooms including large master suite with huge walk in closet. on over sized cul-de-sac lot with refreshing pebble type pool and water feature, mature landscaping, RV gates, and plenty of extra space to let your imagination grow. You're going to love the convenience of easy freeway access, The San Tan Mall, great dining, and award winning schools. Purchase this home for as little as 3% down and buyers incentives of 3.5% towards closing costs. Offer expires 12/31/10 and is subject to eligibility. Call The Pete Dijkstra Team Today! 480-812-9200 or 800-318-8330. PIN #703
Monday, October 11, 2010
4 keys to a stronger purchase offer
Q: When you finally settle on the house you want to buy and you find there are multiple offers, how should you negotiate to make your offer the better one?
A: To those who are not currently active in the market, your question might seem a little bizarre. Multiple offers? In this buyer's market? Absolutely! The best-priced homes in the best condition in the most desirable neighborhoods are receiving multiple offers, even in today's market where so many sellers are struggling just to get a single one.
In fact, even homes that need more than a little TLC can get multiple offers if they are priced and/or located "right."
So, what's a buyer to do? There are actually a number of things you can do to make your offer competitive when you're not the only one for whom that house is their dream house:
1. Price. I hate to be predictable, but the reality is that the price you offer is probably the single most important factor in making yourself competitive. Unless you're offering cash, though, your goal should be to offer as high a price as possible within the range of values that the home will realistically be appraised for.
Savvy listing agents hate nothing more than sky-high offers that are clearly a setup to renegotiate downward when the home does not appraise for the purchase price. So, if you're offering an amount significantly higher than the purchase price, you and your agent should be prepared for the eventuality that the listing agent might ask you what comps your offer price is based on, ask you to remove your appraisal contingency or even -- especially in the case of bank-owned homes -- ask you to document that you have cash on hand to make up the difference between the listing price and the offer price, in the event the property doesn't appraise.
2. Closeability. If cash is every seller's No. 1 priority, closing is a very close second, or even a tie in some cases. Many a seller will choose a lower offer that is highly likely to close over a higher offer that is highly unlikely to close. This is why cash offers tend to trump mortgage-financed offers, even when the cash offer is lower; the seller has some level of assurance that none of the common mortgage-related glitches (e.g., low appraisals, condition issues or loan underwriting problems) will get in the way of the transaction closing.
So, make sure your offer sells you and your team as highly likely to close the deal. Let the seller know how much you like the home and the neighborhood (without going overboard -- you don't want the seller to think you absolutely can't live without the place).
Make sure your approval letter gives the listing agent a fairly detailed briefing of your qualifications, including your job tenure, that your credit has been verified, and what amount of cash you are investing into the transaction. Why does the seller care? The more cash you're putting in, the more likely you are to close the deal.
3. Non-price terms. Your agent should be in touch with the listing agent to find out whether the seller has priorities, wants and needs (other than cash, of course!) that she is looking for from the successful offer. Some sellers need a fast close; others place a high priority on taking an offer from a buyer who can take the property in as-is condition. (This is where you might even discover that some of the other offers are all-cash offers, which can be very difficult to compete with unless you beat them substantially on price.) Things like contingency length, waiving or removing some contingencies entirely, and even the personal property that you include or exclude all factor into a seller's evaluation and decision-making around your offer.
4. Your letter to the seller. Of course, your offer will be submitted along with a letter from your mortgage professional and possibly a cover letter from your real estate broker or agent. But it's often a good idea (check with your agent) for you to submit a letter to the seller as well. You may want to tell the seller a little about yourself and/or your family and respectfully let the seller know what you like about the house and neighborhood, concluding with a respectful request to consider your offer in the spirit it was made. Got a cute kid or dog? It probably wouldn't hurt to throw a photo in, either, but, again, check with your agent.
Many sellers on today's market -- even those with the luxury of multiple offers -- are still selling their homes for far below what they once thought they would be able to get for it. Your letter can make those sour grapes go down more smoothly, and might also serve to differentiate you from all those other buyers in the eyes of the seller. Boosting your likability quotient and humanizing yourself as a person, rather than just some numbers on a form, can help get your offer accepted.
A: To those who are not currently active in the market, your question might seem a little bizarre. Multiple offers? In this buyer's market? Absolutely! The best-priced homes in the best condition in the most desirable neighborhoods are receiving multiple offers, even in today's market where so many sellers are struggling just to get a single one.
In fact, even homes that need more than a little TLC can get multiple offers if they are priced and/or located "right."
So, what's a buyer to do? There are actually a number of things you can do to make your offer competitive when you're not the only one for whom that house is their dream house:
1. Price. I hate to be predictable, but the reality is that the price you offer is probably the single most important factor in making yourself competitive. Unless you're offering cash, though, your goal should be to offer as high a price as possible within the range of values that the home will realistically be appraised for.
Savvy listing agents hate nothing more than sky-high offers that are clearly a setup to renegotiate downward when the home does not appraise for the purchase price. So, if you're offering an amount significantly higher than the purchase price, you and your agent should be prepared for the eventuality that the listing agent might ask you what comps your offer price is based on, ask you to remove your appraisal contingency or even -- especially in the case of bank-owned homes -- ask you to document that you have cash on hand to make up the difference between the listing price and the offer price, in the event the property doesn't appraise.
2. Closeability. If cash is every seller's No. 1 priority, closing is a very close second, or even a tie in some cases. Many a seller will choose a lower offer that is highly likely to close over a higher offer that is highly unlikely to close. This is why cash offers tend to trump mortgage-financed offers, even when the cash offer is lower; the seller has some level of assurance that none of the common mortgage-related glitches (e.g., low appraisals, condition issues or loan underwriting problems) will get in the way of the transaction closing.
So, make sure your offer sells you and your team as highly likely to close the deal. Let the seller know how much you like the home and the neighborhood (without going overboard -- you don't want the seller to think you absolutely can't live without the place).
Make sure your approval letter gives the listing agent a fairly detailed briefing of your qualifications, including your job tenure, that your credit has been verified, and what amount of cash you are investing into the transaction. Why does the seller care? The more cash you're putting in, the more likely you are to close the deal.
3. Non-price terms. Your agent should be in touch with the listing agent to find out whether the seller has priorities, wants and needs (other than cash, of course!) that she is looking for from the successful offer. Some sellers need a fast close; others place a high priority on taking an offer from a buyer who can take the property in as-is condition. (This is where you might even discover that some of the other offers are all-cash offers, which can be very difficult to compete with unless you beat them substantially on price.) Things like contingency length, waiving or removing some contingencies entirely, and even the personal property that you include or exclude all factor into a seller's evaluation and decision-making around your offer.
4. Your letter to the seller. Of course, your offer will be submitted along with a letter from your mortgage professional and possibly a cover letter from your real estate broker or agent. But it's often a good idea (check with your agent) for you to submit a letter to the seller as well. You may want to tell the seller a little about yourself and/or your family and respectfully let the seller know what you like about the house and neighborhood, concluding with a respectful request to consider your offer in the spirit it was made. Got a cute kid or dog? It probably wouldn't hurt to throw a photo in, either, but, again, check with your agent.
Many sellers on today's market -- even those with the luxury of multiple offers -- are still selling their homes for far below what they once thought they would be able to get for it. Your letter can make those sour grapes go down more smoothly, and might also serve to differentiate you from all those other buyers in the eyes of the seller. Boosting your likability quotient and humanizing yourself as a person, rather than just some numbers on a form, can help get your offer accepted.
Friday, August 27, 2010
USDA Rural Housing Program
The USDA Rural Housing Program is a 100% financing, no down payment home loan program for homeowners purchasing homes in certain designated areas throughout the country with populations that are generally below 50,000 people per designated geographic area. Here in Arizona this includes areas such as Arizona City, Buckeye, Casa Grande, Queen Creek, Maricopa, Waddell and even parts of South Gilbert. It is an excellent option for buyers purchasing in these areas and has some of the lowest borrower default rates of all government backed loan programs. However, this past year, due to increased demand and limited funding for the Rural Housing loans, the funds were exhausted and the loan program was essentially put on hold.
Well, the program is now back through the help of the H.R. 4899 Supplemental Appropriations Act of 2010, but with a caveat. Previously, there was a 2% one time funding fee for all borrowers who obtained a USDA loan. However, the program now has increased its funding fee to 3.5% of the loan amount for all borrowers. This will make the loan a little costlier to obtain for borrowers, but the program continues to have no down payment requirement and no mortgage insurance, still making it an affordable option for many. In addition, the increased funding fee will help to preserve the program and keep it from running out of funds for the rest of the year and going forward.
This is a positive development for borrowers looking to purchase a home in Rural Housing designated areas. As always as additional information becomes available we will provide updates.
CALL OR EMAIL TODAY FOR A PRIVATE MEETING TO GET STARTED 480-812-9200 OR PETE@ANYAZHOME.COM
Monday, September 8, 2008
Fannie Mae & Freddie Mac
U.S. seizes Fannie and Freddie
Treasury chief Paulson unveils historic government takeover of twin
mortgage buyers. Top executives are out.
NEW YORK (CNNMoney.com) -- Federal officials on Sunday unveiled an
extraordinary takeover of Fannie Mae and Freddie Mac, putting the
government in charge of the twin mortgage giants and the $5 trillion in
home loans they back.
The move, which extends as much as $200 billion in Treasury support to
the two companies, marks Washington's most dramatic attempt yet to shore
up the nation's housing market, which is suffering from record
foreclosures and falling prices.
The sweeping plan, announced by Treasury Secretary Henry Paulson and
James Lockhart, director of the Federal Housing Finance Agency, places
the two companies into a "conservatorship" to be overseen by the Federal
Housing Finance Agency. Under conservatorship, the government would
temporarily run Fannie and Freddie until they are on stronger footing.
"A failure [of Fannie and Freddie] would affect the ability of Americans
to get home loans, auto loans and other consumer credit and business
finance," Paulson said at a press conference in Washington. "And a
failure would be harmful to economic growth and job creation."
Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500), which were
created by the U.S. government, have been badly hurt in the last year by
the sharp decline in home prices and the rise in mortgage delinquencies
and foreclosures, racking up about $12 billion in losses.
On Sunday, officials stressed that both Fannie and Freddie will be open
for business on Monday morning, although the firms will have undergone a
dramatic facelift.
Freddie CEO Richard Syron and Fannie CEO Daniel Mudd will no longer run
the agencies, while the FHFA will assume control of the boards.
Regulators took care not to foist blame on the two executives, adding
that they would remain with the firms to help with the transition.
Syron and Mudd will be replaced by two finance veterans charged with
restoring the mortgage titans to health. Herb Allison, the former
chairman and CEO of pension provider TIAA-CREF, will head Fannie Mae.
Allison formerly served as president of Merrill Lynch.
David Moffett, who served as vice chairman and chief financial officer
of U.S. Bancorp until early 2007 and then joined the Carlyle Group
private-equity firm as a senior adviser, will take over Freddie Mac.
At the same time, dividends on both common and preferred shares will be
eliminated in an effort to conserve about $2 billion annually. All of
the firms' lobbying and political activities will be halted immediately
and charitable activities reviewed.
In addition, the Treasury Department announced a series of moves
targeted at providing relief to both housing and financial markets.
Paulson said Treasury would boost housing by purchasing mortgage-backed
securities from Freddie and Fannie, as well as offering to lend money to
the companies and the 12 Federal Home Loan Banks. The home loan banks
advance funds to more than 8,000 member banks. (Read what Paulson said.)
The Treasury, with fellow regulator FHFA, will also buy preferred stock
in Fannie and Freddie to provide security to the companies' debt holders
and bolster housing finance.
The government, in agreeing to backstop the firms, said it would receive
$1 billion in each company's senior preferred stock. The government will
also receive a quarterly dividend payment and the right to own 79.9% of
each company.
How we got here
Sunday's announcement brought an end months of speculation about the
fate of the two firms. Shares of Fannie and Freddie, which have fallen
more than 80% as of the end of Friday's session, were hammered this
summer among concerns they would need to raise additional funds to cover
future losses or need to be taken over by its federal regulator.
Investors feared that either step would reduce or wipe out the value of
current shareholders' stakes.
In mid-July, the Treasury Department and Federal Reserve announced steps
in to make funds available to the firms if necessary and Congress
approved the sweeping proposals later that month.
Shortly thereafter, regulators stepped up their review of Fannie and
Freddie. Paulson announced in August that he had tapped Wall Street firm
Morgan Stanley (MS, Fortune 500) to help him examine the firms.
Sources familiar with the matter told Fortune that Morgan Stanley had
determined that both Freddie and Fannie faced "meaningful" capital
issues before deciding last week that government intervention was
necessary. Morgan Stanley has called a firm-wide meeting on Monday
morning to explain the deal.
Following an exhaustive review, FHFA's Lockhart said Sunday that the two
companies could not continue to operate without taking "significant
action."
Fannie and Freddie have become virtually the only source of funding for
banks and other home lenders looking to make home loans. Their ability
to do so is crucial to the recovery of the battered home market and the
broader U.S. economy.
The two firms buy loans, attach a guarantee, then sell securities backed
by the loans' income stream. All told, they own or back $5.4 trillion
worth of home debt - half the mortgage debt in the country.
Reaction to the news
The Treasury-FHFA plan, which was widely anticipated after financial
markets closed on Friday, drew praise from regulators, lawmakers and
some market experts.
President Bush called the move "critical" to the housing market
recovery. "Americans should be confident that the actions taken today
will strengthen our ability to weather the housing correction and are
critical to returning the economy to stronger sustained growth in the
future," he said.
Federal Reserve Chairman Ben Bernanke, who along with Paulson has led
efforts to help get the U.S. housing market and the broader economy back
on track, endorsed the move by Lockhart and Paulson.
"These necessary steps will help to strengthen the U.S. housing market
and promote stability in our financial markets," Bernanke said in a
statement.
Sen. Charles Schumer, D-N.Y., a member of the Senate Banking Committee,
said that Paulson had "threaded the needle just right" with the plan,
noting that it will likely be met with praise from other lawmakers.
At first blush, Wall Street seemed encouraged by the news, although the
true test will come when financial markets around the globe open Monday.
Pimco's Bill Gross, a widely followed bond fund manager, said that the
Freddie-Fannie plan was the right move.
"This is a significant step and almost exactly what we had hoped for,"
Gross told CNNMoney.com Sunday.
In addition to confirming the government's sovereign credit rating,
Standard & Poor's affirmed its sterling AAA rating on both Fannie
Freddie on the news, adding that its outlook for the two firms is
stable.
Unanswered questions
The cost of the government intervention remains unclear. Experts argue
that it will depend in large part on the structure of the rescue, the
direction of home prices and mortgage default rates.
Still it seems almost certain it will run into the billions and will
most likely eclipse such other high-profile government bailouts
including than the Federal Reserve's $29 billion backing of Bear Stearns
assets when it was taken over by J.P. Morgan Chase.
Paulson said that the cost to taxpayers would largely depend on the
future financial performance of Fannie and Freddie.
Another unintended yet unavoidable consequence may be the impact to the
nation's banks.
Some of the nation's largest financial institutions including JPMorgan
Chase (JPM, Fortune 500) and Sovereign Bancorp (SOV, Fortune 500) own a
big chunk of the estimated $36 billion in preferred shares of Fannie and
Freddie, according to research published last month by Keefe, Bruyette &
Woods, an investment bank that specializes in financial firms. Those
stakes are at risk of being wiped out should Fannie and Freddie as a
result of Sunday's announcement.
Top banking regulators, including the Federal Reserve as well as the
Federal Deposit Insurance Corp., said in a joint statement Sunday that a
limited number of smaller institutions have significant preferred share
holdings in Fannie and Freddie. They added they are prepared to work
with these institutions to come up with a plan should they need to raise
capital.
Still, the rescue of Fannie and Freddie could go a long way toward its
intended aim - bringing stability to the housing market while making it
easier for consumers to obtain affordable mortgages.
--CNNMoney.com senior writer Tami Luhby and Fortune editor at large
Patricia Sellers contributed to this report.
Treasury chief Paulson unveils historic government takeover of twin
mortgage buyers. Top executives are out.
NEW YORK (CNNMoney.com) -- Federal officials on Sunday unveiled an
extraordinary takeover of Fannie Mae and Freddie Mac, putting the
government in charge of the twin mortgage giants and the $5 trillion in
home loans they back.
The move, which extends as much as $200 billion in Treasury support to
the two companies, marks Washington's most dramatic attempt yet to shore
up the nation's housing market, which is suffering from record
foreclosures and falling prices.
The sweeping plan, announced by Treasury Secretary Henry Paulson and
James Lockhart, director of the Federal Housing Finance Agency, places
the two companies into a "conservatorship" to be overseen by the Federal
Housing Finance Agency. Under conservatorship, the government would
temporarily run Fannie and Freddie until they are on stronger footing.
"A failure [of Fannie and Freddie] would affect the ability of Americans
to get home loans, auto loans and other consumer credit and business
finance," Paulson said at a press conference in Washington. "And a
failure would be harmful to economic growth and job creation."
Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500), which were
created by the U.S. government, have been badly hurt in the last year by
the sharp decline in home prices and the rise in mortgage delinquencies
and foreclosures, racking up about $12 billion in losses.
On Sunday, officials stressed that both Fannie and Freddie will be open
for business on Monday morning, although the firms will have undergone a
dramatic facelift.
Freddie CEO Richard Syron and Fannie CEO Daniel Mudd will no longer run
the agencies, while the FHFA will assume control of the boards.
Regulators took care not to foist blame on the two executives, adding
that they would remain with the firms to help with the transition.
Syron and Mudd will be replaced by two finance veterans charged with
restoring the mortgage titans to health. Herb Allison, the former
chairman and CEO of pension provider TIAA-CREF, will head Fannie Mae.
Allison formerly served as president of Merrill Lynch.
David Moffett, who served as vice chairman and chief financial officer
of U.S. Bancorp until early 2007 and then joined the Carlyle Group
private-equity firm as a senior adviser, will take over Freddie Mac.
At the same time, dividends on both common and preferred shares will be
eliminated in an effort to conserve about $2 billion annually. All of
the firms' lobbying and political activities will be halted immediately
and charitable activities reviewed.
In addition, the Treasury Department announced a series of moves
targeted at providing relief to both housing and financial markets.
Paulson said Treasury would boost housing by purchasing mortgage-backed
securities from Freddie and Fannie, as well as offering to lend money to
the companies and the 12 Federal Home Loan Banks. The home loan banks
advance funds to more than 8,000 member banks. (Read what Paulson said.)
The Treasury, with fellow regulator FHFA, will also buy preferred stock
in Fannie and Freddie to provide security to the companies' debt holders
and bolster housing finance.
The government, in agreeing to backstop the firms, said it would receive
$1 billion in each company's senior preferred stock. The government will
also receive a quarterly dividend payment and the right to own 79.9% of
each company.
How we got here
Sunday's announcement brought an end months of speculation about the
fate of the two firms. Shares of Fannie and Freddie, which have fallen
more than 80% as of the end of Friday's session, were hammered this
summer among concerns they would need to raise additional funds to cover
future losses or need to be taken over by its federal regulator.
Investors feared that either step would reduce or wipe out the value of
current shareholders' stakes.
In mid-July, the Treasury Department and Federal Reserve announced steps
in to make funds available to the firms if necessary and Congress
approved the sweeping proposals later that month.
Shortly thereafter, regulators stepped up their review of Fannie and
Freddie. Paulson announced in August that he had tapped Wall Street firm
Morgan Stanley (MS, Fortune 500) to help him examine the firms.
Sources familiar with the matter told Fortune that Morgan Stanley had
determined that both Freddie and Fannie faced "meaningful" capital
issues before deciding last week that government intervention was
necessary. Morgan Stanley has called a firm-wide meeting on Monday
morning to explain the deal.
Following an exhaustive review, FHFA's Lockhart said Sunday that the two
companies could not continue to operate without taking "significant
action."
Fannie and Freddie have become virtually the only source of funding for
banks and other home lenders looking to make home loans. Their ability
to do so is crucial to the recovery of the battered home market and the
broader U.S. economy.
The two firms buy loans, attach a guarantee, then sell securities backed
by the loans' income stream. All told, they own or back $5.4 trillion
worth of home debt - half the mortgage debt in the country.
Reaction to the news
The Treasury-FHFA plan, which was widely anticipated after financial
markets closed on Friday, drew praise from regulators, lawmakers and
some market experts.
President Bush called the move "critical" to the housing market
recovery. "Americans should be confident that the actions taken today
will strengthen our ability to weather the housing correction and are
critical to returning the economy to stronger sustained growth in the
future," he said.
Federal Reserve Chairman Ben Bernanke, who along with Paulson has led
efforts to help get the U.S. housing market and the broader economy back
on track, endorsed the move by Lockhart and Paulson.
"These necessary steps will help to strengthen the U.S. housing market
and promote stability in our financial markets," Bernanke said in a
statement.
Sen. Charles Schumer, D-N.Y., a member of the Senate Banking Committee,
said that Paulson had "threaded the needle just right" with the plan,
noting that it will likely be met with praise from other lawmakers.
At first blush, Wall Street seemed encouraged by the news, although the
true test will come when financial markets around the globe open Monday.
Pimco's Bill Gross, a widely followed bond fund manager, said that the
Freddie-Fannie plan was the right move.
"This is a significant step and almost exactly what we had hoped for,"
Gross told CNNMoney.com Sunday.
In addition to confirming the government's sovereign credit rating,
Standard & Poor's affirmed its sterling AAA rating on both Fannie
Freddie on the news, adding that its outlook for the two firms is
stable.
Unanswered questions
The cost of the government intervention remains unclear. Experts argue
that it will depend in large part on the structure of the rescue, the
direction of home prices and mortgage default rates.
Still it seems almost certain it will run into the billions and will
most likely eclipse such other high-profile government bailouts
including than the Federal Reserve's $29 billion backing of Bear Stearns
assets when it was taken over by J.P. Morgan Chase.
Paulson said that the cost to taxpayers would largely depend on the
future financial performance of Fannie and Freddie.
Another unintended yet unavoidable consequence may be the impact to the
nation's banks.
Some of the nation's largest financial institutions including JPMorgan
Chase (JPM, Fortune 500) and Sovereign Bancorp (SOV, Fortune 500) own a
big chunk of the estimated $36 billion in preferred shares of Fannie and
Freddie, according to research published last month by Keefe, Bruyette &
Woods, an investment bank that specializes in financial firms. Those
stakes are at risk of being wiped out should Fannie and Freddie as a
result of Sunday's announcement.
Top banking regulators, including the Federal Reserve as well as the
Federal Deposit Insurance Corp., said in a joint statement Sunday that a
limited number of smaller institutions have significant preferred share
holdings in Fannie and Freddie. They added they are prepared to work
with these institutions to come up with a plan should they need to raise
capital.
Still, the rescue of Fannie and Freddie could go a long way toward its
intended aim - bringing stability to the housing market while making it
easier for consumers to obtain affordable mortgages.
--CNNMoney.com senior writer Tami Luhby and Fortune editor at large
Patricia Sellers contributed to this report.
Monday, August 18, 2008
GILBERT HOMES FOR SALE
1,789 SQFT IN GILBERT AT $204,900!
Everyone will love this great lifestyle where there’s 2 clubhouses, endless trails & greenbelts, two lakes with fishing, tennis courts, soccer fields, basketball courts, kids playgrounds, neighborhood schools & more. Now you can have it with this wonderful 4 bedroom, 2 bath home featuring and island kitchen, covered patio and a Jack & Jill bath. Call Pete Today! 480-812-9200. PIN #442
$7500 Tax Credit - 1st Time Buyers
President Bush Signs New Federal Housing Bill.
Benefiting 1st Time Home Buyers:
HR3221, The Housing and Economic Recovery Act of 2008
The federal government is passing a new law which will enable 1st time home buyer's to benefit from a huge $7,500 tax credit when they purchase a home. This new program was created as a way to cause new home buyers to act and purchase a home now, instead of waiting. The goal of the federal government is to infuse home sales within the economy with lots of new homebuyers benefiting from this tax credit.
Currently, the housing inventories around the country are at huge levels and the government wants to bring those levels down to normal levels to help stabilize our ecomony. This is a smart solution to get people to act now, instead of waiting to purchase. The fact is that interest rates are very attractive right now and the only thing that is causing people to wait to purchase is that they think they can get an even better deal. The truth is that in most places round the country are ripe for the picking and the market will start moving into an aggressive buyers market in the coming months. Rates will go up soon, so it is best to take advantage of lower rates and a huge tax advantage from the government.
Many previous 1st time home buyer's can only dream of an opportunity like this. Imagine: You find find the home you want; get the seller to pay your closing cost, only have to put 3-5% as a down payment and get $7,500 dollars back in your taxes. We can show you how. It a wonderful deal.
THE STEPS TO HOME OWNERSHIP:
In order for you to take advantage of the tax breaks offered by the US government and benefit from even more 3rd party - money incentives, we have created an educational and informational pre-qualifiction gathering to show 1st time homebuyers how they can maximize the benefits of home purchasing.
SCHEDULE A MEETING TO GET MORE INFO:
We schedule small meetings with couples and individuals and teach them how to:
1. Get the Seller to pay for the maxium allowable closing costs under FHA, Freddie Mac and Fannie Mae.
2. How to find the perfect home based on your needs and wants.
3. Learn the mistakes that most buyers make in purchasing homes.
4. Learn credit repair strategies to get you to home purchasing faster.
5. Get the most updated information to lending requirements under FHA, Freddie Mac and Fannie Mae.
6. Learn how to communicate with escrow agents and loan processors to insure a smooth and fast closing.
7. Get the guestions you have answered; by true mortgage and real estate professionals, with over 22 years experience.
CALL OR EMAIL TO SET UP A PRIVATE MEETING TO GET STARTED 480-812-9200 OR pete@anyazhome.com
Benefiting 1st Time Home Buyers:
HR3221, The Housing and Economic Recovery Act of 2008
The federal government is passing a new law which will enable 1st time home buyer's to benefit from a huge $7,500 tax credit when they purchase a home. This new program was created as a way to cause new home buyers to act and purchase a home now, instead of waiting. The goal of the federal government is to infuse home sales within the economy with lots of new homebuyers benefiting from this tax credit.
Currently, the housing inventories around the country are at huge levels and the government wants to bring those levels down to normal levels to help stabilize our ecomony. This is a smart solution to get people to act now, instead of waiting to purchase. The fact is that interest rates are very attractive right now and the only thing that is causing people to wait to purchase is that they think they can get an even better deal. The truth is that in most places round the country are ripe for the picking and the market will start moving into an aggressive buyers market in the coming months. Rates will go up soon, so it is best to take advantage of lower rates and a huge tax advantage from the government.
Many previous 1st time home buyer's can only dream of an opportunity like this. Imagine: You find find the home you want; get the seller to pay your closing cost, only have to put 3-5% as a down payment and get $7,500 dollars back in your taxes. We can show you how. It a wonderful deal.
THE STEPS TO HOME OWNERSHIP:
In order for you to take advantage of the tax breaks offered by the US government and benefit from even more 3rd party - money incentives, we have created an educational and informational pre-qualifiction gathering to show 1st time homebuyers how they can maximize the benefits of home purchasing.
SCHEDULE A MEETING TO GET MORE INFO:
We schedule small meetings with couples and individuals and teach them how to:
1. Get the Seller to pay for the maxium allowable closing costs under FHA, Freddie Mac and Fannie Mae.
2. How to find the perfect home based on your needs and wants.
3. Learn the mistakes that most buyers make in purchasing homes.
4. Learn credit repair strategies to get you to home purchasing faster.
5. Get the most updated information to lending requirements under FHA, Freddie Mac and Fannie Mae.
6. Learn how to communicate with escrow agents and loan processors to insure a smooth and fast closing.
7. Get the guestions you have answered; by true mortgage and real estate professionals, with over 22 years experience.
CALL OR EMAIL TO SET UP A PRIVATE MEETING TO GET STARTED 480-812-9200 OR pete@anyazhome.com
Thursday, August 14, 2008
YOU MAY QUALIFY FOR A 1% INTEREST RATE REDUCTION WHEN BUYING A NEW HOME THRU WELLSFARGO FLEX/FIXED LOAN PROGRAM
Lower Your Monthly Mortgage Payment
For the First Year Of Your FHA Or VA Loan
With our FLEX/FIXED® program, you may be able to take advantage of a 1% reduction in your
mortgage rate for the first year of your loan, at no cost to you, when you apply and lock in your rates
now through August 31. This means a lower monthly mortgage payment for the first 12 months!
Other Benefits Include:
• Security – Fixed payment schedule lets you know what your monthly principal and interest
payments will be for the life of the loan
• Options – Can be used with 30 year fixed FHA1 and VA2 programs
Call Pete Dijkstra & Team Today 480-221-1332 or 800-318-8330 so that we can put you in contact with a Mortgage consultant to see how you can take
advantage of this program!
Remember to visit us on the web for all of your Real Estate needs. It's is a great time to be a buyer call us for a recent list of all foreclosure homes in the Phoenix Metropolitan area. Queen Creek, Gilbert, Chandler, Mesa, Tempe, Maricopa, Scottsdale, Paradise Valley, Buckeye, Glendale, Peoria and more.
Information is accurate as of date of printing and is subject to change without notice. These are the current interest rates for the loan products
described above for a single-family primary residence. Your loan's rate will depend upon the specific characteristics of the loan transaction and your
credit profile up to the time of closing. 1. The FHA loan illustration assumes a $200,000 loan with a 3% down payment, 360 monthly payments with
1 year buydown. The interest rate for year 1 will be 5.375% (6.954%) and 6.375% (6.954%) for year 2-30. The monthly principal, interest, and mortgage
insurance payments for Year 1 will be $1,219.64. After the buydown period expires, the monthly principal, interest, and mortgage insurance payments
will be between $1,348.38 and $1,334.21 for 131 months. After that, the monthly principal and interest payment will be $1,266.46 for the remaining
term of the loan. The payment amounts provided do not include homeowner’s insurance or property taxes which must be paid in addition to your
loan payment. 2. The VA loan illustration assumes a $200,000 loan with a 20% down payment, 360 monthly payments with 1 year buydown. The
interest rate for year 1 will be 5.375% (6.554%) and 6.375% (6.554%) for year 2-30. The monthly principal and interest payments for Year 1 will be
$1,133.94. After the buydown period expires, the monthly principal and interest payments will be $1,263.34 for the remaining term of the loan. The
payment amounts provided do not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2008 Wells Fargo Bank, N.A. All rights reserved. 104660 -
1% interest rate
reduction at no cost
to you!
104660_DMD
For the First Year Of Your FHA Or VA Loan
With our FLEX/FIXED® program, you may be able to take advantage of a 1% reduction in your
mortgage rate for the first year of your loan, at no cost to you, when you apply and lock in your rates
now through August 31. This means a lower monthly mortgage payment for the first 12 months!
Other Benefits Include:
• Security – Fixed payment schedule lets you know what your monthly principal and interest
payments will be for the life of the loan
• Options – Can be used with 30 year fixed FHA1 and VA2 programs
Call Pete Dijkstra & Team Today 480-221-1332 or 800-318-8330 so that we can put you in contact with a Mortgage consultant to see how you can take
advantage of this program!
Remember to visit us on the web for all of your Real Estate needs. It's is a great time to be a buyer call us for a recent list of all foreclosure homes in the Phoenix Metropolitan area. Queen Creek, Gilbert, Chandler, Mesa, Tempe, Maricopa, Scottsdale, Paradise Valley, Buckeye, Glendale, Peoria and more.
Information is accurate as of date of printing and is subject to change without notice. These are the current interest rates for the loan products
described above for a single-family primary residence. Your loan's rate will depend upon the specific characteristics of the loan transaction and your
credit profile up to the time of closing. 1. The FHA loan illustration assumes a $200,000 loan with a 3% down payment, 360 monthly payments with
1 year buydown. The interest rate for year 1 will be 5.375% (6.954%) and 6.375% (6.954%) for year 2-30. The monthly principal, interest, and mortgage
insurance payments for Year 1 will be $1,219.64. After the buydown period expires, the monthly principal, interest, and mortgage insurance payments
will be between $1,348.38 and $1,334.21 for 131 months. After that, the monthly principal and interest payment will be $1,266.46 for the remaining
term of the loan. The payment amounts provided do not include homeowner’s insurance or property taxes which must be paid in addition to your
loan payment. 2. The VA loan illustration assumes a $200,000 loan with a 20% down payment, 360 monthly payments with 1 year buydown. The
interest rate for year 1 will be 5.375% (6.554%) and 6.375% (6.554%) for year 2-30. The monthly principal and interest payments for Year 1 will be
$1,133.94. After the buydown period expires, the monthly principal and interest payments will be $1,263.34 for the remaining term of the loan. The
payment amounts provided do not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2008 Wells Fargo Bank, N.A. All rights reserved. 104660 -
1% interest rate
reduction at no cost
to you!
104660_DMD
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