On March 4, 1993, Jim Valvano was awarded the inaugural Arthur Ashe Courage and Humanitarian Award at the first annual ESPY Awards. Following is his acceptance speech.
“Don’t give up, don’t ever give up.”
We should do this every day of our lives. Number one is laugh. You should laugh every day. Number two is think. You should spend some time in thought. Number three is, you should have your emotions moved to tears, could be happiness or joy. But think about it. If you laugh, you think, and you cry, that’s a full day. That’s a heck of a day. You do that seven days a week, you’re going to have something special.
How Awesome! I was sent this reminder by one of my Coaches, Kirk Nace. Thanks Kirk. I wanted to share this with all of you! It is so simple…
Here is my market update for March. I hope you find this informative:
It’s the first of March, so today we will review the market sales and information for February. First, we came into March with 27,000 single family home available for sale. If you compare this to last year when 40,000 homes were on the market in the metro Phoenix area you would see inventor is down 32.5%.
Next are the home sales. We closed 5,504 homes in metro Phoenix this February, that is 14% higher than last year. Remember last year was the second best year ever for home sales. Last month 7,407 homes sold and went into a Pending status.
Foreclosure homes constituted 2,100 of the sales last month and inventor of foreclosures is flat. Short Sales continue to sell with great velocity, there were 1,359 Short Sale closings in February for the metro Phoenix real estate market. That is 4 times the amount of the same time last year.
Retail home sales continue to improve as more sellers bring their price to the market value and attract buyers. This segment made up 36% of the closings for February. Over 56% of the homes available for sale are retail sales.
Affordability has returned to the metro Phoenix real estate market. I put together the following chart to show how affordable homes are today. But a quick review of what I am trying to convey. For a home valued at $100,000 it takes one income earner of approximately $27k to qualify or 2 at $13.5k per year. With 2,000 work hours in a year 2 persons making $6.75 each per hour would qualify for a $100,000 home. For a $300,000 home it would take two people averaging $20 per hour to qualify. Of course, as interest rates go up, so will the required income. Today, you can buy a real nice home for $300,000. As a matter of fact, we are listing a really nice home in Surprise today. It is about 2,000 square feet, single level, 3 beds plus a den, Granite counters, Stainless appliances, NICE home, oh and it backs the neighborhood park. Guess how much? $125,000!!! YES, this is crazy! This is a fantastic deal, but their are great opportunities all over. You just need to make a wise informed decision.
Home Value Interest rate Payment PITI Income (household/per person dual income)
I hope you saw my video of the 3 dates and 3 reasons to buy today.
1. April the Fed stops buying mortgage backed securities, rates will go up. Experts are saying rates will go up 1 – 1.5%!
2. April, FHA raises their mortgage insurance premium .5%. This is a direct cost to the buyer.
3. End of April, you must be under contract by the end of April to qualify for the buyer tax credits.
watch the video:
If you read my blog, you would know I have been saying the big step to take to correct our market is to approve Short Sales in less than 90 days. We have been hearing about the Pre-Approved Sort Sale for over a year now, finally we have something close. Thank YOU Wachovia for being part of the answer instead of the problem, most other banks are the problem.
You can’t do anything today without hearing about how ridiculous it is to get a Short Sale approved by a bank. Loan Modifications are a joke. They usually only give you a mod if you are current on your payments and you “qualify.” Their first round of Loan Modification found 80% of the borrowers in Foreclosure again, several months later. Short Sale is the answer for these people. It can be the best answer because the Short Sale seller can get back in the market to buy again in 1 to 3 years depending on the situation and their post Short Sale credit. We want that future demand for housing, penalizing people for bad timing on a purchase does no one good!
Wachovia is the leader n today’s Short Sale approval market. We can handle Wachovia’s Fast Track Short Sale Program. Wachovia understands the position this market has created for everyone. They are now offering homeowners, Realtors and buyers the assistance necessary to streamline the short sale process and approve Short Sales within reasonable time lines.
Wachovia has implemented their “streamlined” approval process called the Fast Track Short Sale program. They have assigned a local Loss Mitigation Manager with the authority to approval these transaction within a 7-10 period.
Here are some of the programs highlights:
Must have financial hardship/in default on mortgage
One local point of contact for homeowners, Realtors and buyers to submit offers to and facilitate the transaction
Approvals in 7-10 days
Average closing from start to finish: 48 business days
$2500+ cash for cooperation/relocation expenses
All Deficiency issues Waived
I look forward to this being a very successful program for Wachovia and hope all the other banks are watching and learning. It’s time to start treating people caught up in this financial melt down, caused by the banking system, like they are people and not criminals!
Do YOU have a Wachovia loan and have any questions about how this works or if you qualify? Call me NOW, Jeff Cameron 480-502-7699 or Email Now at Jeff@thecameronteam.com
We are Short Sale experts and can assist you, even if you don’t have a Wachovia loan.
This home is not complete but has so much potential to be a gorgeous estate. The plans have it as a 7 bedroom and 7 bathroom home with 7777 sq ft plus a pool and horse property too. Design features include: 10ft dramatic interior doors; steel w/ wood trim windows; steel and glass front door; romantic master suite w/ fireplace, lavish bath, huge walk in closet, and private courtyard; gourmet kitchen & wine room; library; home theater & so much more! Separate guest house w/ bed, bath,living, and kitchen. 7 car garage or 4+ RV/Semi garage with custom wood doors. Finish this home and make it your complete masterpiece! Listed for only $699,900. Located on 0.8 acres at Shea & Miller. 10620 N. Miller Rd. MLS#4345249
Here is your Advanced Notice of this coming Scottsdale Foreclosure Home in Grayhawk Talon Retreat!
This Bank Owned Foreclosure home is located in Cachet at Grayhawk. This is a gated community located in the guarded community of Talon at Grayhawk. This home is coming to the market. These bank deals usually sell fast, so here is your advanced notice. If you or anyone you know may have interest in this property call Now 480-502-7699 or email Now Jeff@TheCameronTeam.com and take advantage of this opportunity!
This is a 3 bedroom single level town home. It is in turn-key condition! It also offers 2 car garage, water softener, both garage and laundry cabinets. There is enough room in the private yard for grass if you have a little four legged friend. The master is split for privacy and offers luxurious mast bath, including separate tub & shower and large walk in closet!
He is so cute dribbling the basketball! Can we get a triple single?
Thank you,
Jeff Cameron The Cameron Team Keller Williams Integrity First Realty (480)502-7699 office Your Scottsdale McDowell Mountain Ranch Realtor Specializing in Foreclosure and Short Sale Real Estate Sent from my iPhone
Toll Brothers is having a Huge sale! But always remember to bring your Realtor. These new homes at Windgate Ranch may be discounted as much as $250,000. However, before making this huge decision, you really should check the resale opportunities! You will probably save much more. Then you can weigh the difference, lower price or new?? That is a personal decision different for each of us. We are always available to assist you! Remember we need to be with you on your first visit to a new community!
Thank you,
Jeff Cameron The Cameron Team Keller Williams Integrity First Realty (480)502-7699 office Your Scottsdale McDowell Mountain Ranch Realtor Specializing in Foreclosure and Short Sale Real Estate Sent from my iPhone
Wow, this is AWESOME! Do you want to buy a home while prices are so depressed, but don’t have enough cash for the down payment? Here is your answer. Check out the Phoenix Neighborhood Stabilization Program! You must be an owner occupant, have $1,000 to contribute towards the purchase and be under 120% of the median income.
Great idea. This isn’t like 2004-2007 when people putting nothing down and then found themselves upside down easily decided to walk away (just like the people that put 20-40% down). Buying at today’s lows for a first time home buyer is a winning lottery ticket. As long as they are comfortable with their job for the next 3 to 4 years. The entry level market is acutually appreciating right now! People putting a minimal down payment at the entry level are usually in an equity position after about 6 months in today’s market.
Oh, by the by, you do have to pay the $15,000 back, but until you refinance or sell.
Check it out, I am thinking of an entry level home at 32nd St and Bell Road. The rents are down, so let’s say it rents for $950. It sells for $90,000 today!!! Yes, $90,000!!! OK, so the payment on that would be $417.32 for principle and interest, taxes another $100 and insurance $50. But remember there is a tax deduction of close to $150 per month. But let’s leave that out, the estimated payment is $667.32 to own the home with a fully amortizing loan! This is a no brainer! Find Foreclosure homes here!
Your Clients’ Window to
Homeownership
Buying a foreclosed home within the city of Phoenix has its advantages.
The city of Phoenix Neighborhood Stabilization Program (NSP) offers a homeownership assistance program providing $15,000 for down payment and closing cost assistance. Eligible buyers must be FHA creditworthy and have completed the NSP-required eight-hour Homeownership Education Class and Credit/Budget Assessment counseling course.
Buyers must maintain the property as their principal residence and the total household income must be below 120% of area median income. For example, a household of four earning $79,100 or less has the potential to become eligible to participate. Program participants must contribute a minimum of $1,000 of personal funds for down payment or closing costs.
The program targets foreclosed single-family homes, townhomes and condominiums (condominium conversions are not eligible) that meet HUD Housing Quality Standards (HQS). The purchased home must be a foreclosed home anywhere within the city of Phoenix limits and meet other eligibility requirements.
The $15,000 is paid back to the city when the homebuyer sells the home or refinances.
Flagstaff is only a little over 2 hours north of Phoenix, Az. From there Wing Mountain is a short drive.
While in Sedona, we wanted to see the snow. Snow was available just north of Sedona, but we remembered going to this little hill just past the turn off for Snow Bowl in Flagstaff. So we headed out. We had a blast and it only cost $10 per car load!!!!
From Arizona-leisure.com:
Located just north of the Snowbowl in Flagstaff, Arizona, Wing Mountain is one of the best places to let the kids zoom down slick hills on sleds and inner tubes. It even has teeny moguls for tots and lots of room for building snow men. You can purchase plastic snow sleds and on weekends and major holidays there are concessions that sell snacks, drinks and hot chocolate. Parking is convenient within a short walking distance to play areas. If you like snowshoeing, strap on the gear and get going. Click here for more information about Wing Mountain Snow Play.
Directions. About 150 miles north from Phoenix and short distance northwest of Flagstaff. Take Interstate 17 North from Phoenix and it will run into Milton Road which is the main drag in Flagstaff. Take US 180 North and at mile marker #226 which is about 2.5 miles past Snowbowl Road, turn left onto Forest Road 222B.
Wing Mountain Snow Play
Hours: 9 AM to 4 PM daily during season
Admission: $10 per car.
(928) 226-0493
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