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Nate Martinez's Blog

Nate Martinez

Blog

Displaying blog entries 821-830 of 866

Economic Forecast: Rain or Shine?

by Nate Martinez
Metro Phoenix Economic Snapshot, mid-year 2010.
Click here to view information on the local housing market:
 

Housing Market Holds Its Own: Life After the Tax Credit

by Nate Martinez
The Tax Credit brought a lot of buyers out last fall and again this spring, which gave a real shot in the arm to real estate. While that heightened volume cannot be sustained, home sales and prices still remain higher than last year due to interest rates at historically low levels and the lowest home prices seen in years. A monthly survey of 54 metropolitan areas reveals that closed transactions in June were 5.6% higher and prices 3.5% higher than during June 2009.
 
"There's no question, the tax credit has had a significant impact on this market,'' said RE/MAX CEO Margaret Kelly. ''No one can predict the future, and we may still see a slight pull back, but for right now it appears that housing is holding its own, hopefully on the road to a sustainable recovery."
 
Transactions -- Year-Over-Year Change
Buyers trying to make the closing deadline for the Tax Credit may have pushed sales higher for June with a 7.2% rise from May in addition to the 5.6% gain over last year. Sales were especially strong in the Northeast. Boston and Hartford saw 23% more sales than last year, Providence was up 21% and Philadelphia was higher by 27%. An equal number of metro areas, 27, had increases and decreases in closed transactions year over year.
 
Median Sales Price -- Year-Over-Year Change
Responding to demand, home prices appear to be stabilizing and slowly inching higher. In the survey's 54 metro areas, the year-over-year change in Median Sales Price was 3.5%, with 27 metros headed up, 25 lower and 2 unchanged. The weighted average of all median sales prices for June was $211, 530. California experienced the most dramatic increase in prices. Median prices in San Francisco rose almost 18% higher than June 2009 levels. Los Angeles prices were 10% higher and San Diego prices were 9% above the same time last year.
 
Days on Market -- Average of 54 Metro Areas
Besides price, most home owners are concerned about how long it will take to sell their home. For the homes that sold in the survey's 54 metro areas, the average number of days it took from listing to signed contract was 81, slightly lower than the 83 day average in May and the 89 day average of one year ago in June 2009.
 
Months Supply of Inventory -- Average of 54 Metro Areas
The inventory of homes on the market in June rose slightly from May, up only 1.2%, but was down 5.8% from June 2009. In the survey's 54 cities, the average Months Supply of Inventory was 8.5 months, which remains unchanged from May. This means that at the current rate of sales the average metro would eliminate its inventory of homes for sale in eight and a half months. However, a six month supply is considered a market balanced equally between buyers and sellers.
 
Don't forget about the Freddie Mac Open Houses This Weekend!
Click here to view all the opens that will be open for public viewing prior to the live auction scheduled for August 7th.

Auction Open House-This Weekend!

by Nate Martinez

AUCTION OPEN HOUSE - THIS WEEKEND!!

12:00 to 4:00 pm this Saturday, July 24th - open house opportunity! Come check out the properties that will be auctioned at the one-of-a-kind Owner-Occupant Only Live Auction!

2031 E Danbury St, Phoenix, AZ

11866 W Washington St, Avondale, AZ

5713 W Yucca, Glendale, AZ

4135 N 17th St Unit 8, Phoenix, AZ

To view ALL the home available for this special auction, please click here: http://www.virtualonlineeditions.com/publication/?i=42428

Freddie Mac Press Release

by Nate Martinez

 

FOR IMMEDIATE RELEASE

FREDDIE MAC, NEW VISTA, REDC TO AUCTION 135 HOMES ON AUGUST 7 IN PHOENIX TO BOOST FIRST-TIME HOMEOWNERSHIP

Auction to Support Federal Neighborhood Stabilization Program, Offer Eligible Buyers Downpayment, Closing Cost Assistance, 2-Year Home Warranty

McLean, VA –  Freddie Mac (OTC:FMCC),  real estate auction specialist REDC, and New Vista today announced plans to auction 135 HomeSteps®  REO homes to individual homebuyers at the Phoenix Convention Center on August 7, 2010. Almost a third of the homes are being set-aside for an auction to first-time borrowers participating in the federal Neighborhood Stabilization Program (NSP). 

HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.

“The August 7 community homebuyer auction will provide first-time buyers and other Phoenix home shoppers with an outstanding opportunity to buy affordable homes to live in at a time when mortgage rates are at a 50-year low,” said Chris Bowden, Vice President of HomeSteps. “Working with New Vista underscores Freddie Mac’s commitment to manage its REO inventory in ways intended to help stabilize communities, foster homeownership opportunities, and responsibly safeguard tax dollars.”

The Neighborhood Stabilization Program was designed to help eligible first-time homebuyers purchase foreclosed or abandoned homes in designated areas by providing closing cost and down payment assistance. NSP funds supporting the August 7 Freddie Mac auctions are being provided through the State of Arizona Department of Housing.

Freddie Mac held similar community auctions in Las Vegas and Riverside/San Bernardino Counties in April that drew thousands of bidders and sold 207 HomeSteps homes to first time buyers and other owner-occupants. 

Auction, Open House and Counseling Schedules for Phoenix Homebuyers

On August 7 two separate morning and afternoon auction sessions will be held at the Phoenix Convention Center.

  • Morning Session: 9:30 am – 11:00 am for first-time homebuyers who are pre-approved for NSP assistance. Up to 40 homes will be available for sale. Registration begins at 8 a.m.
  • Afternoon Session: 1:30 p.m. – 4:00 pm for first-time homebuyers who are pre-approved for a mortgage by any lender but do not necessarily have NSP funding. Up to 100 homes will be available for sale.  Registration for the afternoon session starts at noon.

Homebuyers at both sessions will also benefit from HomeSteps’ existing SmartBuy®  program.  Under SmartBuy, HomeSteps will pay up to 3 percent of the buyer’s actual closing costs and offer a two-year HomeProtect© limited home warranty on homes sold as primary residence to eligible buyers when the purchase price is equal to or greater than $25,000. The limited warranty, provided through Cross Country Home Services, covers electrical, plumbing, heating and air conditioning, ductwork, and major appliances.  (See homesteps.com and homeprotect.org for details.) 

Freddie Mac’s network of listing brokers will coordinate open houses on July 24 and 31 and August 1 in Phoenix so interested buyers can tour the HomeSteps homes before the auction. The HomeSteps homes that will be auctioned have been removed from the market, inspected, repaired, and are ready for sale in “as is” condition.  Potential buyers can also find property descriptions at www.auction.com/phoenix.

A Consumer Education Seminar has also been scheduled for July 20, 27 and August 3 from 5-6:30 p.m.at Neighborhood Housing Services of Phoenix (NHS) 1405 E. McDowell Road, #100 Phoenix, AZ 85006, (602) 258-1659. The seminar focuses on how homebuyers can buy homes using NSP funds.

 

Auctions That Build New Opportunities for New Homeowners

“Owner-occupants are the key to strengthening neighborhoods in the Phoenix market,” said Jim Park, CEO of New Vista. “Working with Freddie Mac, REDC and the National Community Stabilization Trust, New Vista has created a one day homebuyer event that gives NSP and owner occupant buyers an exclusive opportunity to purchase HomeSteps homes.  By working with all the local stakeholders, we will help to revitalize these communities that have been hard hit by foreclosures.”  

Jeffrey Frieden, CEO of REDC, says “For families looking to buy a home in Phoenix, this special auction event will be an amazing opportunity. There will be more than 100 homes that are ready to move in, and borrowers may be able to qualify for conventional or FHA financing, allowing buyers to purchase homes with low down payments and nominal closing costs. We’ve had great success this year putting families into homes and we expect this event will be a great boost to the local communities.”

The August 7 auction is also supported by the National Community Stabilization Trust (NCST),  a nonprofit organization created to revitalize neighborhoods hit by the foreclosure crisis, and the Neighborhood Housing Services of Phoenix (NHS), which is dedicated to the revitalization of Phoenix neighborhoods by providing a full range of programs and services that encourage, create and support homeownership.

For more information about HomeSteps homes visit www.HomeSteps.com.

About Freddie Mac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.+

About REDC 

Established in 1990, REDC pioneered the model for modern real estate auctions and has transformed into a comprehensive real estate services company. In addition to being the leading real estate auction marketing firm in the country, the REDC group of companies also provides real estate brokerage services, asset management, short sale facilitation and title insurance. The company has established a dominant position in its industry by selling more than $6.5 billion in real estate assets at auction since 2007. REDC's primary clients are residential and commercial mortgage lenders and home builders. The success of the company is based on the aggregation of real estate assets (residential, commercial, notes) that are marketed and sold in large event-style auctions across the country and in online auctions at www.Auction.com. Information about REDC and a complete list of upcoming auctions are available at www.Auction.com. REDC is based in Irvine, California with additional offices in Dallas and New York.

About Neighborhood Housing Services of Phoenix (NHS)

Neighborhood Housing Services of Phoenix (NHS) is dedicated to the revitalization of Phoenix neighborhoods by providing a full range of programs and services that encourage, create and support homeownership. For the past 34 years NHS Phoenix has offered counseling, education, lending and the building and rehab of affordable homes to help hard-working families realize the dream of financially-stable homeownership.

 

Exclusive Arizona Live Auction Event!

by Nate Martinez

On August 7th 2010 Freddie Mac will be partnering with REDC to bring to Arizona an exclusive live auction event for Owner-Occupant purchases ONLY! To view some of the homes that will be sold, please check out this virtual brochure. Properties will be held open for the public, three weekends prior to the event. Please call us TODAY to learn how to register for this exclusive event. Opening bids on some properties are as low as $5,000!!! You don't want to miss out on a rare, one-of-a-kind home buying event! http://www.virtualonlineeditions.com/publication/?i=42428

Another Price Reduction - Get 'Em While There HOT!

by Nate Martinez

This Freddie Mac REO is turn-key and move-in ready TODAY! Located at 51st Avenue / Southern in Laveen, this adorable home is 1315 square feet with 3 bedrooms and 2 baths. Brand new carpet thru-out and brand new appliances. Property backs to a large grassy park-like common area. All this for only $77,500. Call us TODAY to view this home, you will be glad you did!

 

**Don't forget about the sizzling HOT Freddie Mac summer sales promotion! Eligible buyers will receive upto 3% for closing cost assistance AND a 2 year home warranty valued at $1,100!**

News Alert!

by Nate Martinez

Freddie Mac/Homesteps Summer Sales Promotion!

* 2 Year Home Warranty Valued at $1,100!

* Up to 3% closing cost incentive!

All offers must be submitted to Freddie Mac between July 16th and August 31st, 2010 and close escrow by Ocober 29th, 2010. This incentive only applies to those Freddie Mac homes which are eligible and only for Owner-Occupant purchases. Don't miss out on this great incentive - call us TODAY for a list of Freddie Mac homes!

Incredible Price Reduction!

by Nate Martinez

This fantastic property located in Buckeye has been reduced to $44.02 per square foot!! This is a steal for a 1931 square foot home, built in 2006 - all for $85,000! This price was just reduced today - don't hesitate to call for your private tour of this home - at this price it will sell FAST!

The Principles Of Life

by Nate Martinez
Principles Of Life...
Winning isn't everything but wanting to win is.

You would achieve more, if you don't mind who gets the credit.
 
When everything else is lost, the future still remains.
 
Don't fight too much or the enemy will know your art of war.
 
The only job you start at the top is when you dig a grave.

If you don't stand for something, you'll fall for everything.

If you do little things well, you'll do big ones better.

Only thing that comes to you without effort is old age.

You won't get a second chance to make a first impression.

Only those who do nothing do not make mistakes.

If you are not failing, you're not taking enough risks.

Don't try to get rid of your bad temper by losing it.

If at first you don't succeed, skydiving is not for you.

Those who don't make mistakes usually don't make anything.
 
There are two kinds of failures: Those who think and never do, and those who do and never think.

Pick battles big enough to matter, small enough to win.

All progress has resulted from unpopular decisions.

Change your thoughts and you change your world.

Understanding proves intelligence, not the speed of the learning.

There are two kinds of fools in this world.: Those who give advice and those who don't take it.

Management is doing things right. Leadership is doing the right things.
Have a wonderful weekend - try to stay cool!
If you or someone you know is interesting in learning more about the upcoming live Freddie Mac auction on August 7th, please call our office today - 160 "turn-key" homes will be sold to Owner-Occupant buyers only! Find out if you qualify for Government down payment assistance through Your Way Home AZ. Don't delay - time is of the essence!

Beautiful Auction Property!

by Nate Martinez

This property is just one of 160 homes which will be auctioned at the exclusive, OWNER-OCCUPANT ONLY auction on August 7th. This property will be held open on Saturday July 24th, July 31st and August 1st from 12-4pm. Please call our office TODAY for more details! Don't miss your opportunity to buy under value with interest rates as low at 4.250%.

20th Street / Bell Road

1597 square feet / 3 bedroom / 2 bath / Built 1999

Displaying blog entries 821-830 of 866

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Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
623-643-1010
602-430-5226
Fax: 602-532-7352

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