I get a lot of crazy things in my email. Today I received this image of the “Recession Version” of Monopoly. Note the “Foreclosed” and #Short Sale” real estate. Humorous..yes.  True…yes.  Sad…yes.

Well, if you do…then the future of home prices in Phoenix, Arizona, is most certainly LOWER. This article appeared all over the web today. It was written by By Les Christie, a CNNMoney.com staff writer. Who am I to to contradict Les? I’m just an optimistic real estate broker who believes my community (Anthem, Arizona) [...]

Disclaimer: I am not a mortgage broker.  I am a real estate broker. That said, it is hard to do what I do for a living without a basic understanding of home mortgage loans.  The information below was gathered from conversations with loan officers and various searches of home mortgage and credit agency web sites [...]

I was fumbling around on YouTube last night (a great way to kill several hours) and I came across a video from CBS News that aired in the summer of 2008, over 1 year ago. It was kind of like picking up a 1 year old newspaper and reading the headlines of doom and gloom. [...]

New research on the web says that more than 25% of mortgage loan defaults are strategic. That means that 1 in every 4 homeowners who default on their mortgages are walking away from their homes intentionally — even when they can afford to make their monthly payments. Homeowners are especially motivated to walk away when [...]

I receive a lot of calls from people who want to look at (and buy) a new home. They are usually very excited about what they have seen on the news and read on web sites — from an over-abundance of inventory…to low interest rates…to tax credits…to bank-owned “rock-bottom” prices…etc. The last thing I want [...]

Buying a home is a multi-step process. The initial search, the in-person previews, the contract offer, the negotiations, the inspections, the appraisal and so on… it’s all a part of the process. Eventually, the closing day arrives. At least you hope it does. Lately, closing on a home has become extremely difficult. Bank scrutiny is [...]

In case you missed this article… from last week’s Arizona Republic: Housing Data Stirs Optimism for Valley by Catherine Reagor – Apr. 22, 2009 The Arizona Republic In March, there were 200 more new-homes sales across the Valley than the month before. That may not sound like much, but it’s significant in the current slowdown. [...]

Lots of people trust Dave Ramsey. And why not? He is a financial guru! Here are Dave’s 4 Easy Tips to Sell Your Home. In my opinion, he is right on the mark… If you want to sell your home, make sure your house looks its best. 1. Fix your front yard. Are the bushes [...]

I received this update from a mortgage broker this morning: Just a quick note to let you know that as of this writing, the 30 year fixed is finally below 5% with no points or origination fees. Depending on the borrower and property profile, the 30 year is at 4.9%.  The USDA loan continues to [...]