How much better can it get?

The Wall Street Journal reported today that 15-year mortgage rates fell further to average 2.97% with lowest fees circling 0.7% of the loan amount. These numbers are significant having fallen below 3% since Freddie Mac started tracking it.

Don't forget the 30-year rate fell last week to an average 3.75%.

Ask yourself if this is the time to buy—"Home much better can it get?" TF

Chicken Little was wrong!

 

It's not the sky that is falling, it's the mortgage interest rates!

Mortgage Rates Hit Century Low to 3.78% since long-term mortgages began in the 1950s.

The key is an individual's credit rating. It determines the rate.

Also, consider that activity is boosted by changing market conditions, too. For example, publicity about the Phoenix metro area has boosted interest from out-of-staters. 

Stay tuned . . . TF

Ready for today's newest real estate reality?

Finally, good news from the marketplace—Multiple offers are back!


What you need to know about preparing an offer in today's market as a power player:

You will have more influence when you show up prepared.
1. Be initially pre-approved by your financial institution
2. Make a cash offer and provide proof of cash funds:
    -Bank statements
    -Securities statement
    -Insurance statement.

3.  Depending on your desired location, properties will rise and fall. Check the areas before going out with a Realtor® and you won't waste time, and  you're more likely to find what you want in the best location.
4. Consider there tends to be more inventory in age-qualified communities. These locales are ideal for vacation homes. The advantage is on resale, short sales or foreclosures where you may not be dealing with as many multiple offers in non-age qualified neighborhoods.

For example, Trilogy at Vistancia, in Peoria, Arizona since January, 65 homes sold (19 in the month of April alone!)

This is an ideal time to acquire second homes in Arizona. There is something for everyone. Consider the cosmopolitan and cooler temperatures of Flagstaff. You're only a five-hour drive to Santa Fe and off Hwy. 40 heading to Las Vegas in four hours. With the Northern Arizona University there, amenities—from theater to medical facilities, activities are abundant.

Heading northeast in Arizona, approximately four hours, is Pinetop with beautiful mountain vistas and a wonderful place to enjoy  mild temperatures during the summer season. Popular Prescott and world-class destination Sedona are easy to accesses well. Take your pick.

Happy interstate traveling! TF

Golf Anyone?

If you play birdie golf, you play like a pro. So, I named our website, BirdieGolfHomes.com, because our clients want pros working for them when  looking for exceptional homes.


Lana and I live and work in a golf community, Trilogy at Vistancia, next to Vistancia Village and Blackstone country club gated neighborhood. The award-winning Gary Panks designed golf course earned the prestigous Golf Digest 5-star designation. 

When visiting Phoenix, wrap up a wonderful day of golf at Trilogy on the beautiful 18th hole. Golf Digest says, "It's a must-play once in your life at any price." 

The clubhouse offers scenic views, ambiance, a pro shop and full-service dining at the Verde Grill. Stop by for a tour. Just email me at ted@BirdieGolfHomes.com and we will set a time. TF

Hit a home run while Spring Training is still on

This  is a great time to hit a home run with your home if you were wondering, "Is this a good time to sell?"

Spring Training, running through April 4, 2012, in its first week, experienced 250,000 spectators. People are here and they are looking because the weather is superb, great shopping and entertainment and they are getting the bug that, "I could live here, full or part time." Hm-m-m.

For golfers, visitors love our Metro Phoenix's golf courses. They become smitten with the variety of courses, levels of skill and surrounding beauty.

For tennis players, what a great time to fall in "love." Visitors enjoy the mild weather.


In many neighborhoods, multiple offers on homes are becoming common. TF

Shoppers Heaven Just Got New Wing!

Ready for another shopping experience?

Tanger Factory Outlet Centers Inc. intends to open a new open-air mall in the Westgate Shopping City Center in Glendale. This news is greeted with optimism for the Arizona economy.

This is a boom for Phoenix's West Valley. The 328,000 s.f. modern design site blends with the existing Westgate Shopping City Center, replete with dancing fountains and rich colors around on billboards. Pedestrian-friendly spaces have courtyards and some covered park like areas. The center will feature 85 brand-name stores to be completed by 2012 year end.

Most of the active adult-resort living communities (55+) are in the West Valley. This will add to the tax base and add a new entertainment center. TF


Ted Friedman, Designated Broker/Agent
623/476-2491
FriedmanRealtyAssociates@gmail.com
www.BirdieGolfHomes.com

Money Is Cheap

Money is cheap like never before.

So, why are people not rushing into the market, particularly in active adult communities? They don't want to be the first to take the plunge into the market.
Fact is, the market is turning and others have taken that first step. So, come on in, the "water" is fine and benefit from the exceptional bargains that are disappearing from the market.

The Fed projects low mortgage rates until 2014. (Wall Street Journal, 1/26/12)

People are spending money. They are putting themselves back into the market. Supply and demand is back. This is what we've been waiting for.

Considering a move to Arizona?
What does that mean for people considering a move to Arizona, Phoenix area? The wait is over.
Forget the media and get in on the heating-up marketing. Pent up demand is beginning to explode with multiple offers, something we haven't seen for years. For example, The Arizona Republic (1/31/12 Business/Retail) reported, " . . . . since November, purchases rose to $4 billion from last year."

Talk to your lender, whether it is a mortgage broker or financial institution. Act now! TF

Ted Friedman, Designated Broker/Agent
623/476-2491
FriedmanRealtyAssociates@gmail.com
www.BirdieGolfHomes.com