Getting ready to head out to one of our biggest 11U baseball tournaments of this year. The boys have worked really hard and they are ready. As I am watching the news and seeing all the snow back East I have such a happy feeling I am in Arizona and will be spending my week outside and away from the blizzards.
Six student-athletes on The Ohio State University football team have been suspended for NCAA violations, the school said Thursday in a press release. Why don't they just give these players an allowance or allow them to sell these things instead of using them to gain all that money for the school. So many student athletes go without because their families can not afford to provide them what they need and they can't work because they have to train and play for the school. The schools really benefit from the hard work of these players. I know they get schooling paid for but how are they supposed to survive with no money in their pockets...of course it leads to them doing things under the table.
Well it is beginning to feel more like CHristmas in Arizona. The weather has cooled off, there is rain in the air and people are all over the streets and in the stores trying to get the last minute gifts purchased. I still don't understand why people wait till the last minute. I went to buy my niece some boots (not for Christmas) and there was nothing left. I went to 4 stores and finally found something that would work but not my favorite pair. Online shopping this year with free shipping kept me out of the mess and I got everything I wanted for my peeps.
It is so interesting to me that a 70yr old woman robbed a bank this week and according to the article it appeared that she was doing it just like she would when she was doing a normal banking transaction. She asked a man in her building to give her a ride to the bank, he thought it was so she could get the money to pay her rent. Little did he know he was her get away driver. I wonder if she was in dire straights and needed to do this or if she just felt like it was something she wanted to do to see what it would be like so she went for it. I shake my head eveyday at some of this stuff I read and just wonder how people get to these places in their lives.
Only one more week until Christmas. The kids just got out of school so next week should be fun having all the crazy, smelly boys running in and out of my house all week. I am all ready for the holiday so that is a relief. Much easier this year since the hubby and I decided not to shop for each other. I guess easier for him because I like the shopping part.
It is really hard to get in the holiday spirit when it is 82 degrees outside. Don't get me wrong the weather is awesome but it does not seem like Santa will be coming down the chiminey in 9 days.
Did you know that Fannie and Freddie Mac loan will only allow a seller to contribute of 2% toward buyers closing cost when they are purchasing an investment home? Before you write a contract of any kind make sure you are dealing with a professional.
Well this is interesting as reported on CNBC this morning
Fannie Mae and Freddie Mac are in discussions with U.S. government officials to join government programs aimed at reducing mortgage balances where borrowers owe more than the values of their homes, the Wall Street Journal reported on Tuesday citing people familiar with the situation.
The paper reported that Fannie Mae and Freddie Mac have been highly reluctant to reduce mortgage balances, especially for borrowers who are still making payments.
The report also said the government is pressuring both mortgage companies to join a program run by the Federal Housing Administration that allows banks and other creditors, which agree to write down mortgages, to hand off the reduced loans to the FHA
I wonder if they do this if they will increase their limits to include some jumbo. Wouldn't that be nice for all of those people that had to get a jumbo loan during the boom and now are stuck.
This is what I don't understand about hedge funds...I was an auditor of a smaller hedge fund and when we would look for new investment opportunites I would go to each company and audit their books and look at how they were investing. If anything did not add up we walked. I know we did not invest in a very large Phoenix based company because of this and we saved ourselves loads of money and trouble when the owner killed himself and the company was sued.
So...when all of these Pedigree fund managers were looking into Madoff why would they invest when things never really added up? Just because he had a track record of returns he must be ok?? Where did that get you?
I really don't think people understand the idea of volunteer work. My mom and I volunteered to ring the Salvation Army bell outside the mall today for 2 hours. People walked by and told us to come wash their tires if we need money and that "people like us" make them feel bad because we are standing outside ringing the bell for the needy and they feel like they HAVE to give something. We were very nice and did not feed into their anger but what these people don't realize is we are not the ones in need. We are volunteering our time to help those less fortunate. If everyone just gave a little bit of their time the world would be a better place.
I am so tired of seeing all theses people that feel a lawsuit is necessary to settle the dumbest things. Really...you think it is necessary to file a lawsuit because your girlfriend dumped you?? Really you think you are owed money because you were stupid and broke into someones house and they hit you and you got hurt??? This stuff is so worng on so many levels.
There are many changes in the processing and closing of short sales in the last year. It is always important to deal with a real estate professional when you are thinking about a short sale for your home. It is also wise to consult an attorney or tax advisor prior to your short sale to know what your tax liability could be.
This is so sad...
A 100-year-old greeter at a Milwaukee Walmart was shoved by a customer after the centenarian tried to stop the woman to determine if she'd paid for items that were in the lower part of her shopping cart, police said Monday.
This woman works about 34 hours a week at 100 years old. Some jackass pushed her for doing her job and put her in the hospital. What kind of person pushes an elderly woman? This world gets more disgusting every day.
Read more: http://ping.fm/fz7N0
Congratulations to the 11U Stealth for taking the title in the 12U AAA event this weekend at the Thanksgiving Shootout. Great job as always boys!
This was in the Arizona Republic today "
"Debt isn't stressing people as much as it had been, but consumers remain gun-shy about embarking on a big holiday spending spree." Does this make sense to anyone? Everyone I know is in worse shape than they were a year ago and these are people that have been smart with their money, had their reserves and did not lose their jobs. Sorry but I find this article hard to believe.
Read more: http://ping.fm/LfMxP
Well the Black Friday ads are flying into emails all across the country at record pace and some of the deals look good. I do have to say the most interesting ad I saw today was one from ING. Yes ING the online bank. They sent out their own Black Friday ad. Pretty funny and a good way to capitalize if you ask me.
Congratulations to the 10U and 12U Stealth Baseball teams for taking the championships this past weekend. Great Job Boys
So... there was a funny article in the paper today about a collection agency finding a woman on Facebook and asking her friends and family to have her call the agency. The woman dodged the agency and her bill for awhile to get to this point so why can't they use this method to track her down?
I never understand the after hours holiday office parties that do not invite the spouses. I am sure the people putting on the parties are only trying to save money but don't they realize that mixing people, booze and no spouses can only lead to trouble?
Nothing new is happening so far this week. Mortgage rates are on the rise so loan applications are at a 4 month low. The housing market has really slowed down over the last month but I think everyone knows that is happening. I really wish we could get back to at least some sort of real estate market that makes sense.
I am such a girl...I was so excited to see that there is going to be another Royal wedding. I remember watching the first wedding with Prince Charles and Lady Diana. It was amazing. I am sure this one will be just as spectacular. I do hope the outcome for their future is much better though.
The Black Friday deals are already being leaked and so far I am not impressed. Maybe my son is getting to old for toys and games now so the items I used to go crazy over are no longer a hot ticket for me. I feel old today.
I am one of the only fools I know that actually looks forward to shopping on the day after Thanksgiving. Ya there are some deals but really it is about the time I get to spend with my mom and sisters running around town, laughing at all the people fighting and taking it so seriously , and then capping it off with a yummie breakfast before we head home to sleep. Only 2 more weeks and the fun is here again!
So...for anyone that says that people are not spending money right now they were not at the opening of the new Nordstrom Rack today. Nothing was being given away, there were probably 1500 people there before the doors opened this morning and when you finally could get in the store people were throwing clothes in their shopping bags like they were the last items on earth.
The election is over, Republicans control the House, the stock market is going down, jobless claims are at a "four month low" (ya right). I am still waiting for things to get better like the news keeps telling us it is.
A Florida grandma and her boyfriend tried to sell her grandchild for $30,000 this week. The mother of the baby is in jail. Can someone please tell me how these people are even allowed to have children living with them. This poor child did not ask to be brought in to this world and treated like like a sale item.
Let's see if the new majority house will actually walk the walk and not just talk after they have control of the house. They need to stop spending money on things that do not matter to the people and get the budget in line. I know at one point they had to be in touch with reality. They need to get that back.
The housing market in Phoenix took another nose dive this month. I was talking to a client and her house is worth less than it was when she bought it 20 years ago. Something has got to happen to stabilize this market.
Mortgage rates on the rise. Homes in the better areas of Arizona are staring to level off also. It is still a good time to buy a home. Don't sit on the sidelines and miss the boat.
Well the elections are over and most of the races have been called. Just as expected the House has been taken over by the Republicans. Let's see if they can do anything different and get some stuff done. Only time will tell.
Well it is election day and true to form stocks rose early in trading. They are leveling out in later trading waiting to see how things unfold when the votes are counted. I can't wait to see how this goes. Off to vote...
Well election day is tomorrow. It will be interesting to see it unfold. There is going to be a shift in the feelings in America the days after the election but will they stay?
Tomorrow is Halloween and it is so great to see kids enjoy themselves and just being kids. They are growing up to fast in this society so it is good to see them running around and just having fun.
What a sad story. Children in Pennsylvania were trick or treating last night and found a man that had shot himself on the front porch of his house. At first they thought it was for Halloween and then realized he was really dead. Those kids are going to be scared of Halloween for the rest of their lives.
Not only do you now have to worry about being laid off you also have to worry about your credit report keeping you from getting a new job. Employers have been checking credit for years before hiring an employee for certain positions. It is becoming much more common now though because they don't want a struggling employee to be tempted to steal from them. Credit is a big deal in this society so just watch it and try and pay your bills the best you can.
How does Obama have time to go on The Daily Show? Again doesn't he have more important things to do with his time?
Watch your money in the banks. FDIC took over another credit union last week and people with more than $250,000 in an account lost anything over that. Spread your money around if you are only keeping it in the bank.
Its another beautiful Arizona Monday. The news is trying to make the economic outlook seem like it is turning around but everywhere I turn more people are getting laid off.
BofA is back in the foreclosure business in Arizona. I knew that would not last long. I guess they had to put the breaks on for a minute to make sure they would not get sued here along with every other state.
Uncertainty about an expected new Fed stimulus program created a lot of movement in mortgage rates during the week. Fed officials offered few details about the program, though. In the end, despite the volatility, the result was just a small decline in mortgage rates for the week.
In an effort to boost the economy, the Fed is expected to begin to purchase additional Treasury securities soon. The big question is how large the program will be. Investors expect the Fed to reveal the details of the program at its next FOMC meeting on November 3. Comments from Fed officials during the week indicated that they are still discussing what approach to take. The Fed may decide on a fixed quantity over a set time frame, or they may select a more flexible program in which they decide at each meeting how much to purchase. Mortgage rates have already benefitted from investor expectations for the program, and they likely will remain highly sensitive to changes in the outlook for the Fed's plans.
While foreclosure issues were in the spotlight, this week's housing sector data generally showed modest improvement. September Housing Starts increased to the highest level since April. The October NAHB Home Builder confidence index rose to 16 from 13 in September, which was the first increase in five months. "Builders are starting to see some flickers of interest among potential buyers," according to the NAHB.
The Obama health care plan was supposed to be such a great thing and that is why they pushed it right through. Well everything that has happened since it got pushed through is not positive. Health Care companies are figuring out ways to lower what individuals will be covered on and they are taking away child only policies in many cases. Yes they are hurting the children. They are worried that by having to cover every child it may cost them more money if parents only get a policy when the child is ill. This is disgusting.
Why in the world is President Obama on an episode of Myth Busters? Shouldn't he focus on other things and not making appearances on TV programs? We have problems in this country that need serious attention.
Whenever you think money can solve all your problems just think about all the movie stars and athletes that get into trouble. It is so sad to see people that on paper have it all but in real life they just don't seem to get it. They don't know how to budget their money, they get hooked on drugs or they beat their loved ones. WHY???
The Happy Meal that has not changed after sitting out for 180 does not make me so happy. A woman in New York had been taking photographs of her Happy Meal over the last 180 days it has been sitting out on her shelf and no part of the meal has changed. It is so scary to think about what we feed our kids.
Mortgage rates hit another all time low today. We should be busy selling houses with these rates but no one can sell their current house to move up to a bigger house. People in Washington are so far removed from real life they have no idea what is really happening out in the world.
The commercial real estate market seems to be holding steady which is good news because that was the next big shoe to drop. Maybe there is light at the end of this recession tunnel.
Stocks are on the rise but for how long? It is interesting to watch the market and try and figure out what is really driving this rally.
Some of the major banks in the country have put a freeze on foreclosures. Don't stop making your payments or think you are in the clear just yet. Many of the banks have only done this in states where they do a more traditional foreclosure. Arizona does not do this so many banks are still moving things along here.
The Wall Street Journal posted today...
"The move marks the Obama administration's most direct intervention so far into a growing debacle tied to how banks foreclose on homes, and the first effective veto of Mr. Obama's presidency. The veto could make it more difficult for banks to complete paperwork and speed the foreclosure process, and could give homeowners more time to rework loans."
Call me if you need help going through your options.
It is a great time to buy or refinance as reported today on Yahoo...
NEW YORK (AP) -- Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That's the lowest on records dating back to 1971, and down from 4.32 percent the previous week.
The average rate on 15-year fixed loans, a popular choice for refinancing, dropped to 3.72 percent from 3.75 percent. That was lowest on records dating back to 1991.
Rates have mostly fallen since spring as investors shifted money into the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
The 30-year rate was 5.08 percent at the beginning of April, while the 15-year rate was 4.39 percent.
If you have not seen the movie The Social Network go see it soon. It is a very entertaining movie and is probably one of the best movies I have seen in 10 years.
As reported in the New York Times today...
The flawed practices that GMAC Mortgage, JPMorgan Chase and Bank of America have recently begun investigating are so prevalent, lawyers and legal experts say, that additional lenders and loan servicers are likely to halt foreclosure proceedings and may have to reconsider past evictions.
Check with your attorney if you feel you were wronged in your foreclosure proceedings.
The top six big banks in the country are holding off or stopping foreclosure proceedings until they have time to review how they are doing business because they are using wrong paperwork and not reviewing borrowers histories. Shouldn't they have done that before now??
Consumers seem to be feeling there could be light at the end of this long tunnel but we still have a long way to go.
Still a good time to buy a home...
Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans fell to 4.32 percent, the lowest on records dating back to 1971. That's down from 4.37 percent the previous week and equal to the average rate reached four weeks ago.
It was just released that home prices were up .6%in June from July. Not sure where that is happening but it does not feel like it is here in Arizona.
10 reasons to buy a home today:
1. You can get a good deal.
2. Mortgages are cheap.
3. You can save on taxes.
4. It will be yours.
5. You’ll get a better home.
6. It offers some inflation protection.
7. It’s risk capital.
8. It’s forced savings.
9. There is a lot to choose from.
10. Sooner or later, the market will clear.
Fannie Mae just released their National Housing Survey. The survey reported:
• 82% of respondents consider homeownership important to the economy, up two points from January.
• 70% of respondents think it is a good time to buy a house (of which 36% think it is a very good time to buy), up six points from January. This is also four points higher than the 2003 survey – well before home prices peaked – when 66 % said it was a good time.
The Nation’s Real Estate Pricing Expert
Karl E. Case is a professor emeritus of economics at Wellesley. Professor Case is also co-creator of Standard & Poor’s Case-Shiller House Price Index and is recognized as the one of the foremost authorities on real estate today. In a New York Times op-ed piece earlier this month titled, A Dream House After All, he said:
I have never quite understood what the American dream really means when it comes to housing. For some people, it means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive.
Others, however, think the American dream is owning property that appreciates by 30 percent a year, making a house into a vehicle for paying bills. But those kinds of dreams have become nightmares for the millions of foreclosed property owners who have found themselves sliding toward bankruptcy.
But for people with a more realistic version of the American dream, buying a house now can make a lot of sense.
US home prices dipped again in July. We keep hearing things are becoming more stable yet news like this keeps coming out. I will keep you posted as I hear more but right now it still looks like the housing market is not ready to make a comeback.
Arizona just got a $1.7M grant to help in the fight against mortgage fraud. The target of the AG's office will be mortgage "rescue" programs. The AG has already had numerous indictments and lawsuits against these type of programs.
If you are interested in a loan modification or a short sale speak to an expert. If they ask for money upfront this could not be on the level so take your time and do your homework on the company you are about to do business with.
Economists are saying the recession is over. What are your thoughts? Does it feel to you like the recession is over?
Yahoo Finance posted this morning... "Rates on 30-year mortgages climbed for the second straight week, but remain near the lowest level in decades.
The average rate for 30-year fixed loans this week was 4.37 percent, mortgage buyer Freddie Mac said Thursday. That's up from 4.35 percent a week earlier and 4.32 percent the previous week, which was the lowest level on records dating back to 1971."
If you are ready to buy a home now may be the right time for you. So give me a call to discuss your options.
During these trying times many people are having debt discharged due to a short sale or foreclosure. Read the IRS Publication 4681 for answers to your tax liabilty questions on these discharged debts.
This came from the Arizona Republic. It's a funny way to explain a sad situation.
A tune for Phoenix homeowners: "Short-Sale Foreclosure Blues"
The housing market has prompted many laments. Realty Executives Chairman Rich Rector put the woes of many homeowners to music. He sang the song “Short-Sale Foreclosure Blues†at one of his brokerage's recent meetings.
â€Bought at the top in 2005.
Life was great, beginning to thrive.
Then, whoa, things took a major dive.
Got those short sale, foreclosure, repo blues.
Behind on my payments, Market done tanked.
Prices have fallen, zilch in the bank.
Went to my lender and drew a blank.
Got those short sale, foreclosure, repo blues.
If I could have, I would have paid.
If I could have, I would have stayed.
I've been Fannie'd and Freddie'd and FHA'd.
I've been Chased, Wells Fargo'd and B of A'd.
I've got those underwater, upside down short-sale foreclosure blues.
I've been Fannie'd and Freddie'd and FHA'd.
I've been Chased, Wells Fargo'd and B of A'd.
I've got those underwater, upside down
Short-Sale Foreclosure Blues.â€
Arizona got $45 million from the federal government to help with the foreclosure crisis in our community. Some of the money will go to help first time home buyers with their down payments. Call me today to discuss if this money could help you get into your first home.
I get questions every week on foreclosures and advice. On a new FNMA backed loan it ranges 2-7 years. One thing that has come out since July 1 this year, FNMA will be checking foreclosures and if they determine it was 'strategic' (you could have made the payments) you will wait 7 years AND they will pursue you for the shortage.
Call me to discuss your options.
You do not have to feel the stress of a foreclosure. Call me today to see if you are a candidate for a short sale. The process has become much easier and smoother over the last few months.
Congratulations to the 11U Stealth for a fantastic weekend of baseball. We are so happy to have the Stealth family back together after a short break that felt like 100 years :). Great job to the adult Stealth for winning their game over the hard to beat Angels last night. Good job big boys.
HUD has come out with a new program to help responsible borrowers that are upside down in their homes. The program started today. Check it out and see if you are eligible... http://ping.fm/pxId6
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