Monday, August 9, 2010
Monday, July 26, 2010
Fannie Mae gets tough
Hi all
Here is the newest from Fannie Mae. Click on the link to get the latest news.
Blessings,
Patty
Fannie Mae gets tough on 'strategic' mortgage defaults - Borrowers who walk away from mortgages they can afford to pay — making "strategic defaults" — are running increasing risks that they'll be penalized for doing so. Starting in October, strategic defaulters will be disqualified for new Fannie Mae-backed loans for seven years after their foreclosures. Fannie also plans to go to court where it can to recoup outstanding mortgage debt from borrowers who strategically default. Under a bill that's passed the House and awaits Senate action, the Federal Housing Administration would be barred from insuring mortgages for those who previously ditched a mortgage they had the ability to pay. Read full article:
http://www.usatoday.com/money/economy/housing/2010-07-19-defaults19_ST_N.htm
Here is the newest from Fannie Mae. Click on the link to get the latest news.
Blessings,
Patty
Fannie Mae gets tough on 'strategic' mortgage defaults - Borrowers who walk away from mortgages they can afford to pay — making "strategic defaults" — are running increasing risks that they'll be penalized for doing so. Starting in October, strategic defaulters will be disqualified for new Fannie Mae-backed loans for seven years after their foreclosures. Fannie also plans to go to court where it can to recoup outstanding mortgage debt from borrowers who strategically default. Under a bill that's passed the House and awaits Senate action, the Federal Housing Administration would be barred from insuring mortgages for those who previously ditched a mortgage they had the ability to pay. Read full article:
http://www.usatoday.com/money/economy/housing/2010-07-19-defaults19_ST_N.htm
Tuesday, June 29, 2010
The calander of events for Independance day
It's Fourth Of July!! Celebration time for America.This day America was reborn.So it's time to wish America 'Happy Birthday' also! Put your hands together for the USA! July 4th day History
At the time of the signing the US consisted of 13 colonies under the rule of England's King George III. Leading up to the signing, there had been growing unrest in the colonies surrounding the taxes that colonists were required to pay to England. The major objection was "Taxation without Representation" -- the colonists had no say in the decisions of English Parliament.
Rather than negotiating, King George sent extra troops to the colonies to help control any rebellion that might be arising. The following timeline will give you a crash course in the history that lead to the signing of the Declaration of Independence and America's break from British rule.
1774 - The 13 colonies send delegates to Philadelphia, Pennsylvania to form the First Continental Congress. While unrest was brewing, the colonies were far from ready to declare war.
April 1775 - King George's troops advance on Concord, Massachusetts, prompting Paul Revere's midnight ride that sounded the alarm "The British are coming, the British are coming."
The subsequent battle of Concord, famous for being the "shot heard round the world," would mark the unofficial beginning of the American Revolution.
May 1776 - After nearly a year of trying to work our their differences with England, the colonies again send delegates to the Second Continental Congress.
June 1776 - Admitting that their efforts were hopeless, a committee was formed to compose the formal Declaration of Independence. Headed by Thomas Jefferson, the committee also included John Adams, Benjamin Franklin, Philip Livingston and Roger Sherman.
June 28, 1776 - Jefferson presents the first draft of the declaration to congress.
July 4, 1776 - After various changes to Jefferson's original draft, a vote was taken late in the afternoon of July 4th. Of the 13 colonies, 9 voted in favor of the Declaration; 2, Pennsylvania and South Carolina voted No; Delaware was undecided and New York abstained.
John Hancock, President of the Continental Congress, was the first to sign the Declaration of Independence. It is said that he signed his name "with a great flourish" so "King George can read that without spectacles!"
July 6, 1776 - The Pennsylvania Evening Post is the first newspaper to print the Declaration of Independence.
July 8, 1776 - The first public reading of the declaration takes place in Philadelphia's Independence Square. The bell in Independence Hall, then known as the "Province Bell" would later be renamed the "Liberty Bell" after its inscription - "Proclaim Liberty Throughout All the Land Unto All the Inhabitants Thereof."
August 1776 - The task begun on July 4, the signing of the Declaration of Independence, was not actually completed until August. Nonetheless, the 4th of July has been accepted as the official anniversary of United States independence from Britain.
July 4, 1777 - The first Independence Day celebration takes place. It's interesting to speculate what those first 4th festivities were like. By the early 1800s the traditions of parades, picnics, and fireworks were firmly established as part of American Independence Day culture.
God Bless America
Have a safe fourth of July
Patty
At the time of the signing the US consisted of 13 colonies under the rule of England's King George III. Leading up to the signing, there had been growing unrest in the colonies surrounding the taxes that colonists were required to pay to England. The major objection was "Taxation without Representation" -- the colonists had no say in the decisions of English Parliament.
Rather than negotiating, King George sent extra troops to the colonies to help control any rebellion that might be arising. The following timeline will give you a crash course in the history that lead to the signing of the Declaration of Independence and America's break from British rule.
1774 - The 13 colonies send delegates to Philadelphia, Pennsylvania to form the First Continental Congress. While unrest was brewing, the colonies were far from ready to declare war.
April 1775 - King George's troops advance on Concord, Massachusetts, prompting Paul Revere's midnight ride that sounded the alarm "The British are coming, the British are coming."
The subsequent battle of Concord, famous for being the "shot heard round the world," would mark the unofficial beginning of the American Revolution.
May 1776 - After nearly a year of trying to work our their differences with England, the colonies again send delegates to the Second Continental Congress.
June 1776 - Admitting that their efforts were hopeless, a committee was formed to compose the formal Declaration of Independence. Headed by Thomas Jefferson, the committee also included John Adams, Benjamin Franklin, Philip Livingston and Roger Sherman.
June 28, 1776 - Jefferson presents the first draft of the declaration to congress.
July 4, 1776 - After various changes to Jefferson's original draft, a vote was taken late in the afternoon of July 4th. Of the 13 colonies, 9 voted in favor of the Declaration; 2, Pennsylvania and South Carolina voted No; Delaware was undecided and New York abstained.
John Hancock, President of the Continental Congress, was the first to sign the Declaration of Independence. It is said that he signed his name "with a great flourish" so "King George can read that without spectacles!"
July 6, 1776 - The Pennsylvania Evening Post is the first newspaper to print the Declaration of Independence.
July 8, 1776 - The first public reading of the declaration takes place in Philadelphia's Independence Square. The bell in Independence Hall, then known as the "Province Bell" would later be renamed the "Liberty Bell" after its inscription - "Proclaim Liberty Throughout All the Land Unto All the Inhabitants Thereof."
August 1776 - The task begun on July 4, the signing of the Declaration of Independence, was not actually completed until August. Nonetheless, the 4th of July has been accepted as the official anniversary of United States independence from Britain.
July 4, 1777 - The first Independence Day celebration takes place. It's interesting to speculate what those first 4th festivities were like. By the early 1800s the traditions of parades, picnics, and fireworks were firmly established as part of American Independence Day culture.
God Bless America
Have a safe fourth of July
Patty
The History of the fourth of July
Happy fourth of July everyone. Be Safe and God Bless America
Background
Independence Day, commonly known as the Fourth of July, is the annual celebration of nationhood. It commemorates the passage of the Declaration of Independence by the Continental Congress on July 4, 1776.
The Congress had voted in favor of independence from Great Britain on July 2 but did not actually complete the process of revising the Declaration of Independence, originally drafted by Thomas Jefferson in consultation with fellow committee members John Adams, Benjamin Franklin, Roger Sherman and William Livingston, until two days later. The celebration was initially modeled on that of the king's birthday, which had been marked annually by bell ringing, bonfires, solemn processions and oratory. Such festivals had long played a significant role in the Anglo-American political tradition. Especially in the 17th and 18th centuries, when dynastic and religious controversies racked the British Empire (and much of the rest of Europe), the choice of which anniversaries of historic events were celebrated and which were lamented had clear political meanings. The ritual of toasting the king and other patriot-heroes—or of criticizing them—became an informal kind of political speech, further formalized in mid-18th century when the toasts given at taverns and banquets began to be reprinted in newspapers.
Early Years
In the early stages of the revolutionary movement in the colonies during the 1760s and early 1770s, patriots used such celebrations to proclaim their resistance to Parliament's legislation while lauding the king as the real defender of English liberties. However, the marking of the first days of independence during the summer of 1776 actually took the form in many towns of a mock funeral for the king, whose “death” symbolized the end of monarchy and tyranny and the rebirth of liberty.
During the early years of the republic, Independence Day was commemorated with parades, oratory and toasting, in ceremonies that celebrated the existence of the new nation. These rites played an equally important role in the evolving federal political system. With the rise of informal political parties, they provided venues for leaders and constituents to tie local and national contests to independence and the issues facing the national polity. By the mid-1790s, the two nascent political parties held separate, partisan Independence Day festivals in most larger towns. Perhaps for this reason, Independence Day became the model for a series of (often short-lived) celebrations that sometimes contained more explicit political resonance, such as Washington's birthday and the anniversary of Jefferson's inauguration while he served as president (1801–09).
19th Century Celebrations
The bombastic torrent of words that characterized Independence Day during the 19th century made it both a serious occasion and one sometimes open to ridicule—like the increasingly popular and democratic political process itself in that period. With the growth and diversification of American society, the Fourth of July commemoration became a patriotic tradition which many groups—not just political parties—sought to claim. Abolitionists, women's rights advocates, the temperance movement, and opponents of immigration (nativists) all seized the day and its observance, in the process often declaring that they could not celebrate with the entire community while an un-American perversion of their rights prevailed.
A Modern Holiday
With the rise of leisure, the Fourth also emerged as a major midsummer holiday. The prevalence of heavy drinking and the many injuries caused by setting off fireworks prompted reformers of the late 19th and the early 20th century to mount a Safe and Sane Fourth of July movement. During the later 20th century, although it remained a national holiday marked by parades, concerts of patriotic music and fireworks displays, Independence Day declined in importance as a venue for politics. It remains a potent symbol of national power and of specifically American qualities—even the freedom to stay at home and barbecue.
Background
Independence Day, commonly known as the Fourth of July, is the annual celebration of nationhood. It commemorates the passage of the Declaration of Independence by the Continental Congress on July 4, 1776.
The Congress had voted in favor of independence from Great Britain on July 2 but did not actually complete the process of revising the Declaration of Independence, originally drafted by Thomas Jefferson in consultation with fellow committee members John Adams, Benjamin Franklin, Roger Sherman and William Livingston, until two days later. The celebration was initially modeled on that of the king's birthday, which had been marked annually by bell ringing, bonfires, solemn processions and oratory. Such festivals had long played a significant role in the Anglo-American political tradition. Especially in the 17th and 18th centuries, when dynastic and religious controversies racked the British Empire (and much of the rest of Europe), the choice of which anniversaries of historic events were celebrated and which were lamented had clear political meanings. The ritual of toasting the king and other patriot-heroes—or of criticizing them—became an informal kind of political speech, further formalized in mid-18th century when the toasts given at taverns and banquets began to be reprinted in newspapers.
Early Years
In the early stages of the revolutionary movement in the colonies during the 1760s and early 1770s, patriots used such celebrations to proclaim their resistance to Parliament's legislation while lauding the king as the real defender of English liberties. However, the marking of the first days of independence during the summer of 1776 actually took the form in many towns of a mock funeral for the king, whose “death” symbolized the end of monarchy and tyranny and the rebirth of liberty.
During the early years of the republic, Independence Day was commemorated with parades, oratory and toasting, in ceremonies that celebrated the existence of the new nation. These rites played an equally important role in the evolving federal political system. With the rise of informal political parties, they provided venues for leaders and constituents to tie local and national contests to independence and the issues facing the national polity. By the mid-1790s, the two nascent political parties held separate, partisan Independence Day festivals in most larger towns. Perhaps for this reason, Independence Day became the model for a series of (often short-lived) celebrations that sometimes contained more explicit political resonance, such as Washington's birthday and the anniversary of Jefferson's inauguration while he served as president (1801–09).
19th Century Celebrations
The bombastic torrent of words that characterized Independence Day during the 19th century made it both a serious occasion and one sometimes open to ridicule—like the increasingly popular and democratic political process itself in that period. With the growth and diversification of American society, the Fourth of July commemoration became a patriotic tradition which many groups—not just political parties—sought to claim. Abolitionists, women's rights advocates, the temperance movement, and opponents of immigration (nativists) all seized the day and its observance, in the process often declaring that they could not celebrate with the entire community while an un-American perversion of their rights prevailed.
A Modern Holiday
With the rise of leisure, the Fourth also emerged as a major midsummer holiday. The prevalence of heavy drinking and the many injuries caused by setting off fireworks prompted reformers of the late 19th and the early 20th century to mount a Safe and Sane Fourth of July movement. During the later 20th century, although it remained a national holiday marked by parades, concerts of patriotic music and fireworks displays, Independence Day declined in importance as a venue for politics. It remains a potent symbol of national power and of specifically American qualities—even the freedom to stay at home and barbecue.
Wednesday, June 9, 2010
Wednesday, April 28, 2010
What Brewing in Real Estate?
Hi all,
Reports: Phoenix housing values improve - Two reports released Tuesday, one local and one national, appear to confirm that housing values are improving in the Phoenix market. ASU’s Repeat Sales Index shows that although prices are lower than one year ago, the declines are not as severe as they have been. “The March figures also show the first monthly increase in the median price of non-foreclosure homes since the end of 2007,” said ASU Professor Karl Guntermann, who is the Fred E. Taylor Professor of Real Estate. “This may signal the start of price stability throughout much of the housing market.” The S&P/Case Shiller Home Price Indices also indicate that housing value declines are beginning to slow in Phoenix with a one-year composite decline hovering at 1.6%. That was one of the smallest declines among 20 metropolitan areas surveyed.
http://www.bizjournals.com/phoenix/stories/2010/04/26/daily22.html?s=industry&i=resi_real_estate
Real Estate Outlook: Signs of Recovery - Sales of existing single family homes jumped by 7.3% in March, according to the National Association of Realtors survey released last Thursday, and were 13% above year-earlier levels. Median single family prices were up by 9% year over year in the Northeast region, and by about 7% in the South, Midwest and the West. Meanwhile, unsold inventory dropped by two percent in March, and is now 22 percent below its peak in July 2008. March single family housing starts rose by 1.6% to their highest level since November of 2008. Bottom line this week: Think positive. Because that's where we're headed in real estate and the economy overall. Read full article:
http://realtytimes.com/rtpages/20100428_realestateoutlook.htm
Additional articles that you may find of interest:
Expert: Housing prices in Valley flat
http://www.azcentral.com/business/realestate/articles/2010/04/28/20100428phoenix-housing-prices.html
The Valley's priciest home sales
http://www.azcentral.com/arizonarepublic/business/articles/2010/04/28/20100428biz-donedeals0428.html
Refi: FHA or conventional?
Does it make sense to refinance into a conventional mortgage? Or is an FHA refi better?
http://www.bankrate.com/finance/mortgages/refinancing-into-a-conventional-mortgage.aspx
Blessings,
Patty
Reports: Phoenix housing values improve - Two reports released Tuesday, one local and one national, appear to confirm that housing values are improving in the Phoenix market. ASU’s Repeat Sales Index shows that although prices are lower than one year ago, the declines are not as severe as they have been. “The March figures also show the first monthly increase in the median price of non-foreclosure homes since the end of 2007,” said ASU Professor Karl Guntermann, who is the Fred E. Taylor Professor of Real Estate. “This may signal the start of price stability throughout much of the housing market.” The S&P/Case Shiller Home Price Indices also indicate that housing value declines are beginning to slow in Phoenix with a one-year composite decline hovering at 1.6%. That was one of the smallest declines among 20 metropolitan areas surveyed.
http://www.bizjournals.com/phoenix/stories/2010/04/26/daily22.html?s=industry&i=resi_real_estate
Real Estate Outlook: Signs of Recovery - Sales of existing single family homes jumped by 7.3% in March, according to the National Association of Realtors survey released last Thursday, and were 13% above year-earlier levels. Median single family prices were up by 9% year over year in the Northeast region, and by about 7% in the South, Midwest and the West. Meanwhile, unsold inventory dropped by two percent in March, and is now 22 percent below its peak in July 2008. March single family housing starts rose by 1.6% to their highest level since November of 2008. Bottom line this week: Think positive. Because that's where we're headed in real estate and the economy overall. Read full article:
http://realtytimes.com/rtpages/20100428_realestateoutlook.htm
Additional articles that you may find of interest:
Expert: Housing prices in Valley flat
http://www.azcentral.com/business/realestate/articles/2010/04/28/20100428phoenix-housing-prices.html
The Valley's priciest home sales
http://www.azcentral.com/arizonarepublic/business/articles/2010/04/28/20100428biz-donedeals0428.html
Refi: FHA or conventional?
Does it make sense to refinance into a conventional mortgage? Or is an FHA refi better?
http://www.bankrate.com/finance/mortgages/refinancing-into-a-conventional-mortgage.aspx
Blessings,
Patty
Monday, April 19, 2010
What's Brewing in Real estate?
Hello all,
I hope the following information is useful. If you are still looking to buy we have until April 30th to get a contract in. Get pre-approved and let's go shopping.
Proposal to slash business property taxes on the table - Large commercial property tax breaks are included in a tax-cut plan under consideration at the Arizona Legislature. Business property taxes, which currently are as high as 20%, could be cut to 1% for 10 years for developers, property owners or businesses making building renovations or doing new construction of $250 million or more. These entities also must hire at least 150 new workers for their projects and qualify under Arizona Department of Commerce rules aimed at attracting and retaining high-wage jobs with benefits. Capital investments and developments of $1 million to $250 million that create at least 15 jobs could result in a 5% property tax rate, down from 20%.
http://www.bizjournals.com/phoenix/stories/2010/04/19/story2.html?b=1271649600^3199621&s=industry&i=commercial_real_estate
Real Estate Outlook: Faster Recovery? - It's been a long time since we've seen the Wall Street Journal run a front-page article suggesting that the national economy appears to be rebounding faster than most analysts forecast. But that happened last week. And over the past couple of years, we haven't seen retail sales -- a key barometer of consumer confidence -- jump by almost two% in a single month. But we saw that last week as well. Housing activity is also up in 11 of the 12 bank districts. Freddie Mac's economists expect to see total home sales this year at least 10% higher than last year, even with the possibility of higher mortgage interest rates.
http://realtytimes.com/rtpages/20100419_realestateoutlook.htm
Take Care,
Patty
I hope the following information is useful. If you are still looking to buy we have until April 30th to get a contract in. Get pre-approved and let's go shopping.
Proposal to slash business property taxes on the table - Large commercial property tax breaks are included in a tax-cut plan under consideration at the Arizona Legislature. Business property taxes, which currently are as high as 20%, could be cut to 1% for 10 years for developers, property owners or businesses making building renovations or doing new construction of $250 million or more. These entities also must hire at least 150 new workers for their projects and qualify under Arizona Department of Commerce rules aimed at attracting and retaining high-wage jobs with benefits. Capital investments and developments of $1 million to $250 million that create at least 15 jobs could result in a 5% property tax rate, down from 20%.
http://www.bizjournals.com/phoenix/stories/2010/04/19/story2.html?b=1271649600^3199621&s=industry&i=commercial_real_estate
Real Estate Outlook: Faster Recovery? - It's been a long time since we've seen the Wall Street Journal run a front-page article suggesting that the national economy appears to be rebounding faster than most analysts forecast. But that happened last week. And over the past couple of years, we haven't seen retail sales -- a key barometer of consumer confidence -- jump by almost two% in a single month. But we saw that last week as well. Housing activity is also up in 11 of the 12 bank districts. Freddie Mac's economists expect to see total home sales this year at least 10% higher than last year, even with the possibility of higher mortgage interest rates.
http://realtytimes.com/rtpages/20100419_realestateoutlook.htm
Take Care,
Patty
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