Prices are almost 50% lower than last year at this time and mortgage rates are the LOWEST SINCE 1961!!
We know where to find values in Short Sales and Bank Owned Properties!!
Call us 928-442-2123
Mortgage rates edge up slightly
The benchmark 30-year, fixed-rate mortgage edged up 4 basis points, to 5.8 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 45 discount and origination points. One year ago, the mortgage index was 6.62 percent; four weeks ago, it was 5.45 percent.
Also in Bankrate's weekly survey, the benchmark 15-year, fixed-rate mortgage dipped 3 basis points, to 5.16 percent. The benchmark 5/1 adjustable-rate mortgage declined 11 basis points, to 5.26 percent.
Last week's dip in mortgage rates appears to have spurred both new mortgage and mortgage refinance activity, with applications increasing a seasonally adjusted 6.6 percent for the week ending June 19, according to the Mortgage Bankers Association.
When compared with one week earlier, applications for new purchases jumped 7.3 percent, the biggest one-week percentage gain since early April. Refinance activity increased 5.9 percent.
This week's rise follows four weeks of sharp declines in mortgage activity.
Weekly national mortgage survey
Results of Bankrate.com's June 24, 2009, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:
30-year fixed
15-year fixed
5-year ARM
This week's rate:
5.80%
5.16%
5.26%
Change from last week:
+0.04
-0.03
-0.11
Monthly payment:
$968.14
$1,318.60
$912.16
Change from last week:
+$4.20
-$2.60
-$11.28
Sellers - Loan Modifications or a Short Sale
Don’t let your home go into Foreclosure & don’t agree to give your lender your Deed In-Lieu of Foreclosure!
Both are major “equal hits” to your credit!
Don’t pay money to scammers to do your Loan Modification – I will show you how to do it yourself,
no charge!
If you can no longer afford your home, I will show you the benefits of doing a Short Sale where your Lender takes less than is owed on the mortgage and they will not come after you for their loss! You can then move on without the burden of a mortgage and begin to rebuild.
A Short Sale bruises your credit; it doesn’t destroy it like a Foreclosure or Deed-In Lieu!
You pay nothing - the Lender pays ALL COSTS!
The Obama Housing Rescue Plan now includes up to $1500 to you for a successful short sale.
I close 85% of my Short Sales while most agents only have a 10% success rate.
Bank Owned, Short Sale Properties or well priced Normal Sales
We can guide you to the best values on Bank Owned properties & negotiate a successful closing! MANY BANK HOMES ARE PRICED HIGH to actual MARKET VALUE. We will show you the true market value and negotiate accordingly with the BANK.
Don't try this yourself because you will pay more than you need to pay!!
We can help you find the best resale values (Homes or Land) by using our system which combines days on market, recent sales, location issues and condition of home.
WE KNOW HOW TO GET THE CURRENT MARKET VALUE OF A PROPERTY.
As your representative, we will write a solid contract to protect your interests and refer you to competent Mortgage Sources and Building Inspectors..
Michael Dougherty is a Certified Negotiation Expert, CNE
Michael Dougherty, GRI , e-PRO, CNE is the Past President (2008) for the Prescott Area Association of Realtors with approximately 1000 members and a State Director for the Arizona Association of Realtors with over 53,000 members.
Prescott is a rapidly growing mountain town with old western mining roots. With its pleasant mild climate, it is a popular weekend destination for those escaping the desert heat of the Phoenix area. Built around a traditional courthouse square with many of the original building still standing, Prescott offers a look into the past with the popular Whiskey Row and other local attractions. Outdoor recreation is plentiful in the Prescott National Forest with mountain biking, hiking, camping and scenic drives. Prescott is located 100 miles north of Phoenix in the clean fresh air of the Central Arizona Mountains. It is 90 miles southwest of Flagstaff. Highways 89, 89a and 69 will all bring you right to town.
Looking for Homes or Land in or around Prescott, Prescott Valley, Chino Valley or Dewey
We are dedicated to providing the finest service available while breaking new ground. Our unique market knowledge of Prescott AZ homes (including Prescott Valley, Chino Valley & Dewey) can save you countless hours, frustrations and possibly thousands of dollars if you make the wrong choice on your own!
Call or e-mail us with any questions you may have about buying or selling homes or land in beautiful Prescott, Arizona.
Prescott Valley, the fastest-growing community in Arizona during the 1990s, along with neighboring Prescott and ChinoValley, is emerging as the state's primary regional center north of Metro Phoenix.
