Forecast for Interest Rates

Wednesday's Fed announcement was very favorable for mortgage rates. Last week's mixed economic data, Treasury auctions, and news from Europe had little influence. As a result, mortgage rates ended the week lower.
The forecasts from Fed officials for the fed funds rate contained some major surprises for investors. Fed officials now expect that economic conditions will allow the fed funds rate to remain at exceptionally low levels until at least 'late 2014'. Prior statements extended the expected time frame only to mid-2013. In addition, comments from Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, and they are open to the possibility of additional Fed easing. Many investors think it is likely that the Fed will announce additional MBS purchases at a later meeting. The expectation for a low fed funds rate and the possibility of additional Fed purchases of mortgage-backed securities (MBS) increased demand for MBS, which resulted in higher MBS prices and lower mortgage rates.
Friday's release of Gross Domestic Product (GDP) showed an increase at a 2.8% annual rate during the fourth quarter of 2011, which was a little below the consensus forecast, but up from 1.8% during the third quarter. Early estimates for the first quarter of this year are for a slower growth rate. The long-run average growth rate for the economy is generally considered to be around 3.0%, and the economy usually grows at a faster than average rate following a recession. Given that the economy is growing below its potential and that inflation remains tame, the Fed's expectation that monetary policy will remain very stimulative for a long time is understandable.
Call, text or email me today! Or check out my website at http://www.sellingazwithrebecca.com/

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Technology 2012

This is a more personal blog today! Last week my computer jack broke and I have been with out my computer for 4 days. YES….4 days. That don’t seem very long but let me tell you it is amazing what we do with everyday life with our computers!!!! Well as a Realtor, I am marketing, blogging, updating information on the web for homes, finding homes for buyer, marketing homes for my sellers, and the list goes on and on and on……You get the picture.
Okay you are saying what does this have to do with real estate, A LOT! Computers are a BIG part of how buyers find homes. As a sellers and sellers agents agent did you know that 50% of all buyers have been looking for homes on the internet BEFORE they find a Realtor? What does that mean to sellers? That means that if you are not marketing your property with an agent that gets your home “out” on the web, it will be missed. Or if you are trying to sell your home yourself, are you being seen by the buyers? If the buyer for your home has been searching on the internet for a home and they didn’t find yours, the chances of yours selling goes DOWN! So find an agent that will market your home!
If you are not happy with what your current agent is doing for you, FIRE them and HIRE an agent that understands buyers and sellers and knows the marketing on the internet is the first step in finding buyers!
Call, text or email me today! Or check out my website at www.sellingazwithrebecca.com

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Interest rates.....ARE WHERE?

I just had a meeting with a lender and he made an off handed comment about the interest rates, It STILL shocks me....3.75% for a 30 year fixed rate with no points. This is unbelievable. I can't say it enough...NOW IS THE TIME TO BUY A HOME! The interest rates are at a ALL time low and the home prices have hit ROCK bottom.

I want everyone that reads this post to ask themselves a couple of questions and if you answer yes to ANY please call me today!

1) Can you afford to buy a home, if you can qualify for a NO down payment and it is less then what you are spending on rent?

2) Don't think you can qualify because of a short-sale or foreclosure in your past? (There are programs for you EVEN if you just had a foreclosure or short-sale only 12 months ago)

3) Would you love to take advantage of the low interest rates and low home pricing?

DON'T WASTE ANYMORE TIME OR MONEY ON RENT WHEN HOME OWNERSHIP CAN HAPPEN!

Call me today at 480-275-9566 or email me at rebeccakallhoff@gmail.com or check out my website at: www.sellingazwithrebecca.com

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4 best real estate moves

(MoneyWatch)  

Ever since the housing market collapsed five years ago, buyers, sellers and investors have been climbing their way out of the rubble. Things have improved a little, but it's clear we're not there yet.

Even so, there are signs of hope. Existing home sales are up by a large margin compared with the close of 2010. And for those with the cash, credit, and determination, there has never been a better time to buy a home or apply for a mortgage or refinance.

Mortgage interest rates are at all-time lows, hovering at or under 4 percent for a 30-year fixed loan. Last Thursday, Freddie Mac reported that mortgage interest rates matched the all-time low.

With some careful planning, a little research and a lot of persistence, you can avoid housing market misery in 2012, and come out on top.

Here are four best real estate moves you'll want to make this year:

1. Surround yourself with experts

No matter your goal - a first home, a refinance, reverse mortgage or the purchase of an investment property - you will need a little help from qualified professionals who can help you navigate the rough real estate waters.

Having a good experience starts with hiring someone who has been around this block many times before. So find yourself a very experienced real estate agent who can list your property or help you find the right new home.

But you'll also need to secure the services of trusted experts who can help you seal the deal. Look for a great mortgage lender, real estate attorney (especially if you're buying a foreclosure or short sale or are selling in a short situation), home inspector and tax advisor (for real estate investors).

Putting together the right team can go a long way toward helping you make sound real estate decisions in the coming year.

2. Know your credit score

As I suggested above, even those with a healthy credit profile can find securing a loan challenging in 2012. The wild days of mortgage lending, where everyone with a pulse got a loan, are over. Lenders are extremely (and perhaps overly) cautious, and your credit score has become a more important tool than ever in deciding upon interest rates and terms.

Start by going online to AnnualCreditReport.com, which is the only site operated by the three credit reporting bureaus (Experian, Equifax, and TransUnion). There, you can get a free copy of your credit report from each of the three credit reporting agencies, as required under federal law. For an extra $9 or so, you can purchase a copy of your credit report.

Or, you can visit a number of websites that will provide a free or low-cost copy of your credit history and score. If you don't like what your credit history or score looks like, you can make the decision to simply put off buying or refinancing and instead work on fixing your credit.

The key thing is to know where you stand before you negotiate.

3. Manage your credit for the long haul

In today's mortgage market, a credit score of 780 or above is considered optimal. But you should be able to get a mortgage if you have at least a 720 credit score.

If you're not there yet, there are certainly a number of steps you can take. Obviously paying your bills on time and in full is a key part of the process, but you should also act now to correct any errors on your report. If you don't have any errors on your credit report, you'll want to work to pay down existing debt as quickly as possible and make sure you don't have too many open lines of credit. (For some suggestions on how to fix your credit history, check out some of my posts on theEquifax Finance Blog.

4. Not all loans are created equal

It may be tempting to sign on the dotted line of the first lender who grants an approval, but don't. Consider that in many cases, a mortgage is going to be a 15 or 30-year commitment, and make sure you're comfortable with the terms for the long haul.

I suggest you talk to at least four or five lenders before making your decision. In addition, vary the type of creditors you're researching: A major bank, a local lender, a credit union, a mortgage broker and online options. Each of these will offer a variety of different loan programs, at different price points.

In 2012, if you want to make the best real estate moves, you'll have to arm yourself with information. In order to negotiate and secure the best deal, it is important to know what the competition will offer.

http://www.cbsnews.com/8301-505145_162-57348884/4-best-real-estate-moves/

For more information please check out my website: www.sellingazwithrebecca.com

RE/MAX Agents think the Market is Changing!!!

As a RE/MAX agent I thought this was a great article to the value of using a RE/MAX agent! 


RE/MAX agents are no strangers to being visible experts in their marketplaces, often giving media interviews and sharing their insights on local real estate. Now a new quarterly survey – RE/MAX Market Insights – provides Associates with a nationally branded platform to share their market opinions

More than 1,000 RE/MAX residential agents provided responses for the inaugural survey conducted in December. Participants offered their thoughts on market conditions and consumer behavior in 2011, as well as predictions for the New Year.

Here’s a glimpse at some of the December survey’s highlights:

• 39% of RE/MAX agents believe that prices have already hit bottom
• Nearly three-fourths of agents say their markets will have emerged from declining home prices by the end of 2012
• 62.1% of agents predict good to very good sales in 2012
• Half of closings were significantly delayed due to bank procedures (22.7%), financing (14.5%) and appraisals (8.7%)

The RE/MAX Public Relations team used survey responses to craft a press release and infographic that was distributed to national news outlets in January, resulting in significant media coverage. With the surveys being conducted regularly and distributed to reporters, RE/MAX agents will benefit from the increased media visibility on an ongoing basis.

Agents are randomly selected to participate in the online surveys. It’s important to participate in the RE/MAX Market Insights survey if you’re contacted via email, because your insights help RE/MAX, LLC produce an accurate portrayal of market trends and conditions – not to mention provide you with a great item of value to share with your sphere.

http://public.remax.net/public-news/Pages/MarketInsightsSurvey.aspx

For more information or to search the internet for 1000's of homes instantly check out my site: www.sellingazwithrebecca.com

Good news for some with Fannie Mae or Freddie Mac mortgages!

Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period.

The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed. 

Fannie Mae announced it also would be implementing a similar extension to its unemployed aid program.

"These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies," says Tracy Mooney, a Freddie Mac senior vice president. "We believe this will put more families back on track to successful long-term home ownership."

http://realtormag.realtor.org/daily-news/2012/01/09/unemployed-get-more-mortgage-relief

For more information please check out my website at www.sellingazwithrebecca.com

Banks and the Government as Landlords?

Goodness we are well into our  first week 2012!

 2012 could be another interesting year. The Feds are thinking of becoming real estate gurus. Or at the very least they are thinking of allowing a  REO rental program that will be government-sponsored. Their thoughts are if they don't put many of the homes that are already in foreclosure on the market and the many coming up on the market it will help stablize the housing pricing and not push it down any lower. 

Well, here is my opinion of this.......let the government and banks do their jobs and let us professionals in the business of real estate do our jobs! The government has no business in being landlords and the banks have no business being landlords. They need to start putting the homes that are foreclosed slowly on the market and allow people who want a home to purchase homes. Home ownership is the best way to "fix" our economy,NOT allowing the government to run the business of renting homes. We need to put these homes that are affordable for the first time home buyers on the market so they can buy a home.  

I don't want the banks to flood the market and make home prices drop, but if we keep holding on to the homes and driving pricing up, many that could afford the homes under 100k are not given the chance because of not enough homes on the market! 

If you want to hear more call, text, or email me . Check out my website at: 

www.sellingazwithrebecca.com

What's in Store for Housing in 2012?

I thought this was an interesting post:

The worst for the housing market may finally be over, according to housing experts in a recent article in Kiplinger. After median home price have dropped nearly 40 percent nationwide, a rebound is taking shape -- although, housing experts say, the market may stay flat for awhile before gradually ticking up. 

According to housing experts in a recent Kiplinger article, here are some predictions for the real estate market in the coming year:

Home prices stabilize: Mark Zandi, chief economist at Moody's Analytics, predicts that home prices nationwide may still drop another 3 to 5 percent in 2012, but the new year will most likely finally bring a leveling off of home prices before gains start to take shape in 2013. When markets do begin to stabilize in the new year, “price appreciation tends to spread unevenly, creating a lot of confusion about where the recovery is occurring and when,” David Stiff, chief economist at Fiserv Case-Shiller, told Kiplinger. “Even within a single city, more desirable neighborhoods will stabilize first, while prices in other neighborhoods may fall at a rapid pace.”

Housing affordability high: Housing affordability -- the ratio of median home prices to median family income -- will likely remain at record levels in 2012. Homes in many cities are “substantially undervalued,” the Kiplinger article notes. That may even lead to a mini bubble with double-digit spikes in prices, such as an increase of 10 to 15 percent in a given year in some markets, housing experts say.  

Low mortgage rates: Helping to keep affordability high, low mortgage rates are expected to continue on in 2012 -- at least the first part of the year, economists predict. The 30-year fixed-rate mortgage, the most popular among home buyers, has been hovering under a 4-percent average the past few weeks, staying in record low territory. Rates are expected to stay between 4 to 5 percent in 2012, predicts Guy Cecala, publisher of Inside Mortgage Finance, an industry publication. 

Sales increases: The National Association of REALTORS^® has already been showing a tick up in sales taking shape with increases in existing-home sales during the summer and early fall of 2011. High inventories of homes continue to flood the market but a drastic slowdown in new-home building the past three years is “gradually easing the surplus,” the Kiplinger article notes. 

Foreclosures: Foreclosures remain the problem and still plague many markets. After a slowdown with lenders processing the paperwork, foreclosures have began to pick up once again. About 1.84 million home loans are 90 days or more delinquent and 2.17 million have finished the foreclosure process but aren’t up for sale yet, according to RealtyTrac data. Alex Villacorta, director of research and analytics at Clear Capital, told Kiplinger that he predicts regardless of the downward price pressure caused from foreclosures, overall home prices won’t fall as long as lenders bring additional foreclosures to the housing market at a steady pace. 

http://realtormag.realtor.org/daily-news/2011/12/28/what-s-in-store-for-housing-in-2012

If you want more information on the market conditions please contact me at 480-275-9566 or email me at rebeccakallhoff@gmail.com or check out my website at: www.sellingazwithrebecca.com

Pending Foreclosures in the Valley

The real estate market has changed in the last year! And the change is moving in the right direction as far as the economy is concerned, according to ARMLS stats. I have to say this news is what we are all want to hear! It has been a long 4 to 5 years here in the Arizona real estate market. We all want to hear good news and with the start of the new year, I hope we can get it on a more regular basis! So what is being said? Foreclosures are dropping!! There are not as many foreclosures on the market and the pending foreclosures has dropped in the last year! This means that people are not losing there homes at the rate they were even a year ago! So here are some of the numbers: In January 2011 the number of pending foreclosures was at a staggering 40,641 with a drop in November 2011 to 22,389. This is a 45% drop in pending foreclosures!! This is good news that homeowners are able to afford their homes and they are able to sell them in a short sale before they hit the foreclosures!

We still have a long way to go for a strong housing market, but we are working it in the right direction!

If you have any questions please call me at 480-275-9566 or email me at rebeccakallhoff@gmail.com or check out my website at: www.sellingazwithrebecca.com

Buying a home!

Wow we are 2 days into the New Year! 2012 is going to be a great year! We are working our way out of a bad economy, stabilizing housing prices, and trying to lower the unemployment rate. We have a lot of work ahead of our country, but I think we are heading in the right direction. The big questions I have for you, is what do you think with help with all this? I believe it is getting people into home ownership. When people are buying homes, the whole economic realm seems to move up. I do understand that buying a home is very scary for some. But what is scary? Is it the financing? Or is it the thought of losing a home? Or the down payment is not available? I wish more people would swallow their fears and contact me or another Realtor to see if they could qualify for a home. In many cases they CAN qualify. If not today, usually within 6 months. I do know there are some instances that a person cannot qualify such as a bankruptcy, or a very recent foreclosure/short sale, but there are programs out there for many! No down payment, then there is the USDA loan which is 100% financing! Or the FHA loan which is 3.5% down! There is even a lender that can finance a person only 1 year out of a foreclosure or short sale!

There is so much that a Realtor and a GREAT lender can do for a person that it is a shame not to look into buying a home. Many can buy a home for LESS than they are renting for! If you buy a home you are not only saving yourself money, you are helping the economy!

Call me today so we can discuss this. Or check out my website atwww.sellingazwithrebecca.com