News for Prescott AZ - AmericanTowns.com

Wednesday, March 24, 2010

No Arms No Legs No Worries

I have alawys liked this guy and some one sent me this email again.. I thought now is a good time to share. If you are like me you get caught up in life and forget how great it realy is..

Thursday, March 11, 2010

Long Term Investment

This was sent to me by a friend as a PDF sorry it is hard to read..
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Monday, March 08, 2010

Market Update 3.7.2010

 

Well I am just enjoying the snow today and since I can’t go out and ride my bike, I thought I would tell you all a bit more about the Real estate meeting in California last weekend.

 

More from NAR

 

There were some very interesting concepts brought to light over last weekend. Alan Ehrenhalt is a professor and the Former Editor of Governing Magazine. He spoke about Demographic inversion. It was very fascinating. Basically demographic inversion is the influx of people to metropolis living. I believe we were seeing the beginning of this with the surge in condo builds. The condo builds unfortunately collapsed with the rest of the market, but it was unmistakably becoming a trend to move into the city core. The population has quadrupled in cities such as Manhattan converting buildings previously used as business complexes into condos. People are moving into cities and cities are responding by making the downtown areas healthier with, Theater, Music and Arts, state of the art transportation and other various activities produced to entice residence. Many cities are burdened with providing safer environments for the downtown occupants. The downtown area is an essential heart for any large city, and as businesses move further out, they are attempting to fill the buildings with occupancy. The second part of this shift from the burbs to downtown is the new residence in the suburban areas. Across the country we are seeing an influx of immigrants and the trend is that they prefer moving to these suburban locations possibly for a life style not afforded them in their country of origin.

So as you can see he is painting a picture of the changing landscape. How long will this trend continue? Who knows, but my guess is that as we see fuel start to trend upward again, and as some are guessing near $5 a gallon….that downtown area closer to work will look very appealing!

 

I hope you have a great week and should you or your customer have questions about financing property, please give me a call.

 

 

Dan Shaw

 

Peoples

 

928.710.9146 cell

480.248.1199 fax

dshaw@peoplesmortgage.com

 

This is not the opinion of Brad Bergamini, Realty Executives Northern Arizona or any of its affiliates.  This post is for informational purpose only and is not guaranteed and does not render as legal advice.  Buying and selling Real Estate in Arizona or Prescott Arizona is a serious task and should be consulted with personally with Realtor or Real Estate Attorney.  Please visit my website for contact information

http://bradbergamini.com

 

 

 

Weekly Rate Lock Advisory

 

 

Rate Lock Advisory - Sunday Mar. 7th



This week brings us the release of three economic releases for the bond and mortgage markets to digest along with 10-year Treasury Note and 30-year Bond auctions. All of the data will be posted the latter part of the week. Only one of the three reports is considered to be of high importance to the markets, so several days will likely be influenced more by stock trading and other factors than the economic news of the day.

There are no relevant events scheduled for Monday or Tuesday. The 10-year Treasury Note auction is scheduled for Wednesday while the 30-year bond sale will be held Thursday. Results of both sales will be posted at 1:00 PM ET on the sale days. If investor demand was high, we may see bonds rally during afternoon trading, however, weak demand could lead to selling and an increase to mortgage rates. The results of the last sales do not give us much to look forward to, so it is not likely that these auctions will fuel a bond rally and a downward t rend in mortgage pricing.

January's Goods and Services Trade Balance is the week's first economic data. It comes early Thursday morning and gives us the size of the U.S. trade deficit. It is the week's least important piece of news and likely will not influence mortgage rates much. Current forecasts are calling for a $41.0 billion trade deficit during January.

There will be two reports posted Friday morning. The first is at 8:30 AM and is the most important of the week. This is when February's Retail Sales data will be posted. It is extremely important to the financial markets because it measures consumer spending. Since consumer spending makes up two-thirds of the U.S. economy, data that is related usually has a big impact on the financial markets. This month's report is expected to show an increase in sales of approximately 0.2%. If Friday's release reveals a larger than expected increase, the bond market will likely fall and mortgage rates will mo ve higher. If it reveals a decline, I expect to see bond prices rise and mortgage rates improve Friday morning.

Also on tap Friday is the University of Michigan's Index of Consumer Sentiment for March at 9:45 AM. This index gives us a measurement of consumer willingness to spend. If confidence is rising, then consumers are more apt to make large purchases. This helps fuel consumer spending and economic growth. A drop in confidence will probably hurt the stock markets and boost bond prices, leading to lower mortgage rates. If the index rises, indicating that confidence is rising and spending will likely rise, we may see mortgage rates move higher late Friday morning. It is expected to show a reading of 73.8, which is a slight increase from February's final reading.

Overall, it will likely be another active week in the mortgage market. Friday will probably be the most important day of the week with the Retail Sales report due, while the calmest day could be tomorrow or Tuesday, depending on the stock markets. I am expecting to see the most movement in rates the latter part of the week, so please be careful if still floating an interest rate.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

 

This is not the opinion of Brad Bergamini, Realty Executives Northern Arizona or any of its affiliates.  This post is for informational purpose only and is not guaranteed and does not render as legal advice.  Buying and selling Real Estate in Arizona or Prescott Arizona is a serious task and should be consulted with personally with Realtor or Real Estate Attorney.  Please visit my website for contact information

http://bradbergamini.com

 

 

 

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