Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “In fact, the credit is working better than first projected — it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year,” Yun said.

A consumer study by the NAR shows that first-time buyers accounted for a record 47 percent share of home sales over the past year, up from 41 percent in the 2008 survey. The share has risen steadily since a cyclical low of 36 percent in 2006.

Existing-home sales are expected to total 5.01 million in 2009, a gain of 2 percent over last year, and then are forecast to rise 13.6 percent to 5.69 million in 2010. “A steady draw down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun said.

New-home sales are projected at 397,000 this year, recovering to 549,000 in 2010. Housing starts, including multifamily units, should total 564,000 units this year but grow to 752,000 in 2010.

The 30-year fixed-rate mortgage will probably average 5.3 percent in the fourth quarter, rising gradually to 5.8 percent by the end of next year, NAR reported, adding that its housing affordability index will set a record in 2009, averaging 30 percentage points higher than 2008. Affordability will decline from record highs next year but will remain at historically attractive levels for home buyers.

PHOENIX HOME SEARCH Listings updated hourly. Photos, maps and neighborhood information available.

VISIT:        http:www.phoenixaz-homesforsale.info

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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Avondale AZ Wholesale Property

Single Story:   3 Bed/2 Bath

Sale Price:       $110,000     Market Value $125,000

Bedrooms:     3               Bathrooms:    2

Sq Footage    1,738

Parking:      3 Car Garage

Year Built:    2002

Lot Size:         6,046 SF

Would you like to buy other Avondale Wholesale Properties at 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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While nothing has been finalized quite yet, I wanted to keep you posted on the latest information available on the $8,000 homebuyer tax credit extension/expansion.  As of this morning, the House of Representatives has approved legislation that would extend AND expand the $8,000 Homebuyer Tax Credit.  The House vote comes after the Senate voted yes on Monday night and while there is more work to be done, word on the street is that an agreed upon bill should reach the President for his signature by the end of this week.  Here’s what has been agreed upon so far:

Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit.  The extension would cover homes under contract by April 30th and closed by June 30th, 2010.  The $8,000 Homebuyer Tax Credit would also be expanded to non-first time homebuyers as well.  There are a few tweaks for these folks though; the homebuyer tax credit would be reduced to $6,500 from $8,000 AND they must have owned a home for at least five of the past eight years.

Please remember, this is NOT final and even if it is approved, changes could still be made at the last minute.  As soon as the final bill has been approved and signed off on, I will let you know here at www.azhomebuyercoach.com

Bob Mangold

(602) 291-4362

With interest rates hovering around their thirty-year lows, a multitude of flexible and low-cost loan financing programs are available as well as a wide variety of assistance programs that can help virtually anybody experience the joy of homeownership.  In short, the time is right for buying your a home.

However, if you have always been a renter then you probably aren’t as well informed of the intimate processes of obtaining a home mortgage as you’d like to be.  To guide you through this exciting but often confusing time, this report details six tips that will help make your purchase a much smoother experience, save you money and eliminate your anxieties.

Get Mortgage Pre-Approval Before Starting Your Search

Before you begin looking for the home of your dreams, before you make one single decision regarding a home purchase, call my office to get pre-approved by a mortgage professional.  This is a FREE service I offer and will give you a definite advantage in the buying process.

During the evaluation stage, we’ll look at your financial situation and help you figure out how much home you can afford.  This may influence your decision for size, amenities and location, which will help narrow your search.

Pre-approval will also give you a step up on your competition.  Homebuyers that are pre-approved have increased leverage over buyers who are not.  Essentially a pre-approved buyer becomes a “cash” buyer.

Shop Around For A Professional Mortgage Broker

Like most industries, the quality of mortgage professionals can and does vary significantly.  So don’t immediately settle on the first lender you talk to.  Shop your mortgage around to until you find someone that you completely and unconditionally trust.  I think you will find that will be me.

My belief is to “teach” my clients how the real estate and finance systems work against the consumer in order to help THEM make the best decisions possible.

Download the following homebuyer and financing information at my web blog:

www.azhomebuyercoach.com/free-info

Mortgage Tricks

Shopping Around

Satisfaction Guarantee

Top 11 Credit Do’s and Don’t’s

Five Part Buying System

Don’t Become Fixated On The Interest Rate Alone!

Be careful!  The lowest interest rate does not always translate to the best deal.  Look at the total loan program that is being offered, not just the rate. There are several factors that have to be taken into account when evaluating programs: the loan type (fixed or adjustable), the loan term (15 year or 30 year), the closing costs and the down payment requirement.

NOTE:  The most important factor to consider is the ACTUAL interest you pay to the lender over he course of the loan.  My average client will save over $100,000 in payments and interest over the life of the loan.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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Are you looking for a 6 bedroom, 3 bath, 2900 square foot home for less than $210,000?  Then here it is!  This 10 year old home is in great condition and priced $40,000 below market value.  This Glendale AZ Foreclosure Home is priced to sell fast.

Glendale foreclosure homes for sale

For more information on this or other Glendale AZ foreclosure homes, call my office at (602) 291-4362 or fill in your information below;

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I am starting today by floating my interest rate locks; however, after the strong rally in the past few days the bellwether 10 yr note and MBSs both have found some resistance at key MAs. Set your Alert Controller and keep tuned for our static quotes through the day.

Early this morning the 10 yr and mortgage started slightly weaker after two strong days of price gains; the 10 yr at 8:00 -3/32, mtgs at 8:15 -2/32. Data at 8:30 however, sent prices down and yields higher. At 9:00 the 10 yr -15/32, mtgs -7/32 and the DJIA futures +80. At 9:30 the DJIA opened +60, 10 yr note -11/32 and mortgage prices at 9:30 -3/32.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Weekly jobless claims at 8:30 were down 1K to 530K, not as much of a decline as expected (-5K). Continuing claims did decline 178K to 5.797 mil frm 5.94 mil last week; markets saw that as a significant improvement in the jobs outlook but that is way off base thinking. Declining continuing claims would normally be a positive for the employment outlook if this were a normal recession.This is NOT good news of interest rates.

Also at 8:30 the first look at Q3 GDP; better than expected, +3.5% frm -0.7% in Q2. Market consensus was for +3.2%. It is history however, we are well into Q4. Nevertheless the better growth triggered buying in the stock index futures and drove the stock market to a better open at 9:30. Along with the decline in continuing claims and after the 330 decline in the DJIA in the past four sessions investors look to be “bargain” hunting to start the session. Equities are also getting help from the dollar, weaker this morning. If not for the dollar plunge the equity market would have very little support; a high percentage of the recent rally in stocks is coming from foreign investors taking advantage of the falling buck.

Let today’s low interest rates help make your new home purchase affordable.

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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I just finished reading this book and found it extremely informative.  It’s great to benefit from the experience of so many veteran real estate investors.  I learned some new ideas even though I have been investing since 1981.

Here is an overview from Amazon about Robert Kiyosaki’s book.  If you are interested you can order from the link below.

Are you looking for a great deal on Phoenix Area Real Estate? Are you planning on moving in the next three months? Are you a Phoenix Area Real Estate investor looking for great cash flow and instant equity?

Buy Phoenix Area Real Estate at ” cash investor” prices! Would you like to get “preferred access” to these homes?  Simply, fill in your information below and we will contact you to discuss your needs.

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So, you may be wondering how does this process work?

Well, it’ really quite simple.  Our cash investors are buying Phoenix Area Real Estate directly from the court house steps or negotiating directly with the banks and then mark the homes up a few thousand dollars.  They make a small profit but make money by selling homes in volume!  This process is called “wholesaling”.

You may be wondering, how can you participate and profit from wholesaling?     We have a simple 4 – Step process;

1.) Fill out the information in our form. We will call to discuss your specific requirements in the home you are looking to buy.

2.) You must be a cash buyer OR have a mortgage loan completely pre-approved (not pre-qualified)

3.) You must be a buyer within the next 90 days

4.) You will be given “preferred access” to these homes. You will get a 72 hour advance notice before properties are released to the public.

For more information or additional questions, please contact me at (602) 291-4362.

We will start by floating this morning, but keep in mind it is a bearish market. If you are working with me I will stay close to our re-pricing alerts. I will lock interest rates based on the market today

Treasuries and mortgages opened slightly better this morning after two hard days of price declines and increased yields. At 9:00 the 10 yr +3/32 at 3.54% -1 BP, mtg prices +3/32, the DJIA futures +6 points. At 9:30 the DJIA opened +45, the 10 yr at 9:30 +4/32 and mortgage prices +3/32. This should have a positive impact on interest rates this morning.

At 9:00 the Case/Shiller home price index for August was expected to be down 11.90% yr/yr, improved 1.2% to -11.3% yr/yr for the 20 largest markets. It was the 4th month in a row prices have improved but still not much. Better than expected but not as good as the improvement seen in July. The headline said, it is a sign the housing markets are stabilizing. A step in the right direction but still a serious problem, we suspect the much of the improvement is due to the FTHB tax credit that is scheduled to run out at the end of Nov. Markets hoping Obama will extend the credit but reports of —–guess what—–fraud—-are surfacing that may keep the credit from being extended. Can’t go a day without reports of fraud in the housing sector. This does have a impact on interest rates in the coming weeks.

At 10:00 Sept consumer confidence from the Conference Board, expected at 53.5 frm a revised 53.4 (frm 53.1) in Sept, was weaker at 47.7. Not good but still not a major surprise. The result took the stock market lower and added a bid in the rate markets.

At 1:00 this afternoon $44B of 2 yr notes are up for sale by Treasury; the first of three consecutive auctions raising $116B. It is every other week Treasury goes to the well that so far has a deep reserve and strong demand for US debt that is used to fund the deficit that has ballooned to levels still hard to put in perspective. Not a problem for Congress or the administration however, it is business as usual in Washington—toss as much money as possible with the hope it helps. The $787B stimulus package was and is a waste, and some talk there may be more waste coming.

If you are a Phoenix Homebuyer and need a low interest rate loan, get started here

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362 or fill out your information below.                                             (your information will NEVER be distributed to another party)

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