Click here if you are unable to view this newsletter.

    Think PINK Think Green

Local Weather

 

Gas Tracker          Find Cheap Gas!

   Mortgage and Real Estate News           

Volume 6 Issue 4 : November 2009  

Obama Signs Home Buyer Tax Credit Extension. Will It Be Effective? 
     

 

                  Now...Back in Scottsdale!!! 

     
video news

contact me

visit my blog

visit my website

refer a friend

 
  Bookmark and Share Subscribe

Obama signs home buyer tax credit extension. Will it be effective?    

It is finally official.  The homebuyers' tax credit has been extended to April 30, 2010.      (more info…)

Arizona puts feds' money to work building homes

Arizona is receiving $66 million from the federal stimulus package to revive more than 30 stalled affordable-housing projects for families, seniors and the disabled.     (more info…)

'First Look' aids home purchases    

Arizona home buyers trying to tap federal funds to help them purchase foreclosure homes now may find it a little easier.   (more info…)

 

Luxury-home sales gathering steam in Valley as deals abound

Sales of luxury homes in Paradise Valley and portions of Scottsdale are picking up, largely because of dramatic price discounts that have prompted all-out bidding wars.    (more info…)

GSEs testing program to aid independent mortgage bankers

According to information published in The Wall Street Journal, Freddie Mac and Fannie Mae are preparing to step up and help some of their affiliates in the current credit crunch.    (more info…)

The new RESPA rule - The Essentials

If you’re a home mortgage loan originator, mortgage broker, realtor, title agent or other provider of services related to the processing or closing of a residential mortgage loan, you know that January 1, 2010 is D-Day for the use of the new Good Faith Estimate (GFE) of settlement charges (www.hud.gov/respa) and HUD-1 Settlement Statement (www.hud.gov/respa) prescribed by the RESPA reform final rule published January 16, 2009.    (more info…)

Risk-taking is back for banks 1 year after crisis 

NEW YORK – A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.       (more info…) 

Some firms find banks willing to lend again

 

Business credit conditions still aren't where they were a few years ago, when loans flowed as freely as beer at a fraternity party, but the nation's borrowing hangover is starting to clear up.   (more info…)

 

Valley foreclosures drop but reasons unclear

A growing number of home-mortgage holders in foreclosure are taking their lenders to court, where they are posing fundamental questions about the banks' legal right to repossess their homes, said an attorney addressing a packed crowd of lawyers Thursday at the State Bar of Arizona 2009 Convention in Phoenix.     (more info…)

Multifamily sales creeping back as bargains abound

 

While much of the commercial real estate market, both locally and nationally, has been in lockdown since the global banking collapse, the apartment segment is gaining momentum this summer.   (more info…)

 

A condo crisis

New federal loan-guarantee rules imposed to fend off future government losses from plummeting condominium prices have rendered condos utterly worthless, Valley real-estate experts said.      (more info…)

Valley housing attracting cash     

Half-a-billion dollars in cash was spent on down payments and home purchases in metropolitan Phoenix last month    (more info…)

Valley landlords face new reality

Renting out homes has long been a profitable enterprise for many Valley landlords.   (more info…) 

 

When is a home a deal? 

CHICAGO - For all the doom and gloom about the housing market, it still generally pays to own a home.   (more info…)

Bidding wars snarl the housing market     

It should be the best time to purchase a home in decades.      (more info…)

Foreclosed purchase can cost you time     

Time is money for buyers of distressed Valley homes.      (more info…)

Short sales not a long shot, experts say  

Home builders, real-estate investors and other home sellers say they have seen a boost in interest as a Nov. 30 deadline approaches for first-time buyers to receive a federal income-tax rebate of up to $8,000.    (more info…)

Theft of fixtures becomes major risk in foreclosures  

With a $165,000 price tag, the two-story, four-bedroom house for sale in Avondale was a steal.   (more info…)

Property-tax bills up despite drop in home values  

People handling loan modifications in Arizona will have to be licensed by next summer.   (more info…)

Commercial real estate project update 

Editor’s note: We take a look at some high-profile projects proposed for the Valley in recent years, and where they stand now.   (more info…)

Commercial foreclosures rocket 

More than 2,000 commercial properties in Maricopa County have received 90-day foreclosure notices since Jan. 1, representing $6.3 billion in real-estate loans on which the borrowers have failed to make payments.    (more info…)

Builders appear ready to deal on land again

LOS ANGELES - The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.   (more info…)

 

Cities blast impact-fee freeze 

A newly imposed two-year freeze on development-impact fees is a win for Arizona 's battered construction industry but a blow to cities eyeing fee hikes to pay for services tied to new projects.   (more info…)

Property tax exemptions may be next battle in subsidy war

The next shoe to drop in the legal fight over special tax breaks and subsidies for developers could be over the 100 percent tax exemptions ponied up for high-profile projects such as ASU SkySong in Scottsdale and enjoyed by professional sports teams.    (more info…)

Despite bumps, some public real estate investment trusts have access to capital and are ready for action   

Phoenix real estate experts expect publicly traded real estate investment trusts, or REITs, to play a significant role in stabilizing the death spiral that is wreaking havoc in the commercial real estate market.     (more info…)

Real estate investors coming to Valley for REITWorld 2009    

About 1,000 of the world’s most savvy corporate real estate investors will be in Phoenix next week for REITWorld 2009, the annual conference of the National Association of Real Estate Investment Trusts.     (more info…)

Biltmore Fashion Park gets rare deal: Refinance    

The owners of Biltmore Fashion Park , the Valley's original luxury shopping mall, have managed what commercial developers say is virtually impossible lately: They've refinanced the property's mortgage.      (more info…)

CityNorth investment questioned   

The Arizona Supreme Court heard oral arguments on the CityNorth case Wednesday, with justices questioning whether Phoenix will get enough in return for its $97.4 million commitment to the project.   (more info…)

Suze's top 6 tips     

Getting the very most out of the money you have requires big-picture thinking. With that in mind, here are six terrific long-term strategies you can put into play right now to save yourself thousands of dollars per year:  (more info…)

Mayo Clinic Hospital seeks to expand     

Mayo Clinic Hospital is seeking Phoenix 's permission to put up the Valley's tallest buildings outside of central Phoenix.  (more info…)

Office vacancy rates in Valley hit record    

At no time in the Phoenix area's history has so much office space sat empty.   (more info…)

Home builders resume work in once-abandoned developments     

When the housing market collapsed, several bankrupt builders left behind half-empty subdivisions throughout the Phoenix metro area.   (more info…)

Acquisition positions manufactured-homes builder for growth     

Cavco Industries Inc., the state's largest manufactured-homes builder, has proven that even in a severe recession it's possible to double in size.   (more info…)

MARKET WATCH

The recession's domino effect     

If it's a Friday evening in 2009, chances are regulators, somewhere, are taking over a bank.   (more info…)

 

Forecast still gloomy for Valley housing market     

SAN FRANCISCO - The rapid rise and fall of Phoenix 's real-estate market has become a cautionary tale for national experts in growth and housing gathered here at the annual Urban Land Institute conference.   (more info…)

> Mortgage rate trend index

 

> Mortgage market guide   

> Mortgage analysis  

> Mortgage Law Central 

RESOURCE CENTER

LifeLock Identity Theft Protection Free FICO® Credit Score Estimator

> National mortgage and real estate news

 

> Median home prices for Valley ZIP codes   

> Condo sales and values   

> FHA approved condominiums

> Property values

> Arizona foreclosures

> Countrywide foreclosures

> Population estimates for US counties  

> Recruitment 

> Economic Calendar

> Leading Indexes

> Past Newsletters

 

Seeking experienced loan officers!

If you're serious about making money and have at least two years experience in the mortgage business, please contact Lillian Wong, Sales Manager, for immediate loan officer positions available. Please email resume to Lillian@LillianWong.com or fax to 1-866-409-8184. See Job Posting.

Suggestions  

If there are any topics of interest that you would like to know about from a lender’s perspective, I welcome your thoughts, ideas, and suggestions.  Please submit your ideas to me at Lillian@LillianWong.com.

Need a Quick Pre-Approval?

With many years and a wide range of experience in the mortgage industry, along with over 250 loan programs, I can pre-approve your buyers quickly, in person or via phone, email, or fax, and without losing that personal customer attention!.  Call me today to find out how I can help you close your loans successfully!  Or simply, click here to get started.

Bank of America Home Loans - Apply online today!
LHTAZ.com - Luxury Home Tour of Arizona

AVAILABLE LOAN PRODUCTS

See How Lenders See Your FICO Score 100 FREE Direct Mail Postcards - expresscopy.com

> Reverse Mortgages - HECMs and Jumbos

> USDA Rural Housing Loans  

> FHA/VA loans 

> 2-1 and 3-2-1 Buydown

> Commercial Loans

Try Angie's List!
Buy Tickets from StubHub! Apple Online Store

> Investor Loans

> Fixed Period Hybrid Arms

> Home in Five Bond Loans

> Home Equity Line of Credit

 

Yahoo! Small Business TurboTax - Do your taxes for Free
LifeLock Take Control
 
For more information about Countrywide Home Loans and our services, please visit my website at LillianWong.net or email me at Lillian@LillianWong.com.
If you would like to unsubscribe to this mailing list, please click on this 'REMOVE' link and follow the instructions shown on the automated 'Opt-Out Service'.
Equal Housing Lender. © 2009 Lillian Wong & Associates. Some products may not be available in all states. Links provided on this site do not constitute an endorsement, sponsorship or affiliation with the linked site and its content. Lillian Wong & Associates, its parent and its affiliates take no responsibility for any linked site and its content. REALTOR and REALTORS are registered service marks owned by the National Association of REALTORS. Restrictions apply. All rights reserved.