News for Prescott AZ -

Wednesday, March 30, 2011

Home Improvement: The Basics

Home Improvement: The Basics
Dear Brad,

Before you begin any home improvement projects, it is important to get organized.  Be sure that you know what you would like to accomplish before you begin the process of hiring a contractor, or purchasing any materials. 

The Home Services Directory is a great place to visit for information on any home improvement project.  You can find the HSD Home Improvement Checklist at  This informative "quick guide" to getting your project started can help ease a lot of the headaches that come along with home improvements.  Throughout the year we can explore a number of topics and resources to help you as a home owner.

Here are some highlights from the HSD Home Improvement Checklist:

Before selecting a remodeling contractor, you should do the following:

• Plan your project from start to finish.
• Be specific in explaining exactly what you want.
• Be sure to approve any architectural plans that are involved before the contract work begins.
• Compare costs before making a financial commitment.
• Discuss bids in detail with each contractor.
• Ask the contractor for local references and find out if he or she is a member of a professional remodelers association.
• Contact your Better Business Bureau to learn how long a contractor has been in business.
• Find out if a contractor is insured against claims covering worker's compensation, property damage, and personal liability.
• Check with state, county, or city housing authorities to be sure that a contractor meets all area licensing/bonding requirements.

Be sure to visit their website for details on each item on the checklist.  When it comes to home improvements, you can never be too prepared.

Thank you, Brad B. Bergamimi
Brad Bergamini
Realty Executives Northern Arizona
Direct: 9282374400
Office: 9287770257
Email me at:
Visit my website at:

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


Thank you, Brad B. Bergamimi

Brad Bergamini
Realty Executives Northern Arizona
Direct: 9282374400
Office: 9287770257
Cell: 9289251158
Cell: 9285331633
Toll Free: 8885333839

Email me at:
Visit my website at:


Monday, March 28, 2011

Economic Roundup: March 28, 2011



In the News

February home sales data was the lead economic story last week, with sales of both new and existing homes down for the month.
Sales of existing single-family homes, townhomes, condominiums and co-ops dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February, down from an upwardly revised 5.40 million in January, according to figures released by the National Association of REALTORS® (NAR) last week. February's sales were 2.8 percent below the 5.02 million pace of February 2010.
"Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained by the twin problems of unnecessarily tight credit, and a measurable level of contract cancellations from some appraisals not supporting prices negotiated between buyers and sellers," warned NAR chief economist Lawrence Yu. "This tug and pull is causing a gradual but uneven recovery. Existing-home sales remain 26.4 percent above the cyclical low last July."
Meanwhile, sales of new single-family homes in February dropped to a seasonally adjusted annual rate of 250,000, according to last week's figures from the Census Bureau. This was a sizable 16.9 percent below January's revised rate of 301,000 and 28 percent below February 2010's estimate of 347,000.
In terms of pricing, the national median existing-home price for all housing types was $156,100 in February, which was 5.2 percent below February 2010, according to NAR. The median sales price of new houses sold in February was $202,100; the average sales price was $246,000, according to the Census Bureau.
In terms of inventory, NAR reported 3.49 million existing homes available for sale at the end of February, which represents an 8.6-month supply. The Census Bureau reported that the seasonally adjusted estimate of new homes for sale at the end of February was 186,000, representing a supply of 8.9 months.
Durable goods orders for February were another important financial headline last week, showing a 0.9 percent drop from January to $200 billion, after January showed a 3.6 percent increase. Machinery, down two consecutive months, had the largest decrease, $1.2 billion or 4.2 percent to $26.6 billion.
That said, shipments of manufactured durable goods in February increased $0.7 billion or 0.3 percent to $203.2 billion. This followed January's 0.2 percent increase. Interestingly, machinery held the top spot for shipments, showing a 2.6 percent increase to $26.1 billion.
Initial jobless claims for the week ending March 19 dipped to 382,000, a decrease of 5,000 from the previous week's revised figure of 387,000, according to figures released by the Employment and Training Administration last week. The four-week moving average was 385,250 claims, a decrease of 1,500 from the previous week's revised average of 386,750.
This week's financial news starts off Monday with personal income and spending data for February from the Bureau of Economic Analysis. Experts expect growth, but it will be tapered from January's gains.
Tuesday will see March's consumer confidence data from the Conference Board, followed on Thursday with initial jobless claims data for last week from the Employment and Training Administration. Also on Thursday the Census Bureau will release factory order data for March.
Friday ends the week with a series of important economic announcements: March's non-farm payrolls, hourly earnings and average workweek from the Bureau of Labor Statistics; the unemployment rate for March from the Bureau of Labor Statistics; and February construction spending from the Census Bureau.




© 2011 W.J. Bradley Mortgage Capital Corp., 201 Columbine Street Suite 300, Denver, CO 80206. Phone #303-825-5670. NMLS ID 3233. Trade/service marks are the property of W.J. Bradley Mortgage Capital Corp. This is not a commitment to lend. Restrictions apply. All rights reserved. Some products may not be available in all states.

Alabama Consumer Credit License MC 20878; AZ License # BK-0903998; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act RML# 4131002; To check the license status of your CO Mortgage Broker, visit; Florida Mortgage Lender license #ML.100000098; ID Mortgage Broker License No. MBL-2803; IL Residential Mortgage Licensee – License #MB.6760738, 201 Columbine Street, Suite 300, Denver, CO 80206; MI First Mortgage License No. FL0011392; MN Residential Mortgage Originator License No. 20447094; NV Mortgage Banker License No. 2061; NV Mortgage Broker License No. 504; NM Mortgage Loan Company and Loan Broker Act Reg. No. 01856; OK Mortgage Broker- License No. MB001365; OR Mortgage Lender License No. ML-776; TX Mortgage Banker Reg. No. 74182; UT Mortgage Lender Company License No. 5495659-MLCO; Vermont Broker License #0995MB; Vermont Lender License #6141; WA Consumer Loan License No. CL-3233; Wisconsin Mortgage Banker License No. 699991.



Mark Ott

Loan Officer

W.J. Bradley Mortgage Capital Corp.

Office: 928-775-9330

Cell: 928-713-9639

Fax: 928-775-9331

NMLS: 189552

License: BK-0903998

Contact Me

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Do you know someone with questions about home financing? Please pass on my contact information to anyone who could benefit from a free consultation!



Building a
Secure Future

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 or





Weekly Market Update from Curt Dalpiaz




March 28, 2011 


Curt & Shannon Dalpiaz
Loan Officer
141 S McCormick Street
Suite #107
Prescott, AZ 86303

Hello Brad,

Whether you're running a race or a business, it's all about timing and strength. This is especially relevant as we start the final week of the month. Clients need our guidance more than ever, and every moment counts.

If you need help – or simply want to talk or brainstorm an idea – I'd be delighted to assist you. I'm on your team and enjoy every aspect of our business. Here's to your success and finishing strong!


Curt Dalpiaz




Treasury Will Sell MBS



Average 30 yr fixed rate

Stocks (Weekly)


The Jobless Claims four-week average declined to the lowest level since July 2008

The Treasury will auction $99 billion in 2-yr, 5-yr, and 7-yr securities this week

Gold prices rose to record levels near $1,435 per ounce

Portugal's sovereign debt rating was cut by S&P


This week: +0.05%


Dow: 12,200 +300




Last week: -0.10%


NASDAQ: 2,750 +100



With no major developments in Japan or the Middle East and little economic data on the schedule, mortgage markets had one of their quietest weeks of the year. The only significant market moving news was an unexpected announcement from the Treasury on Monday, which pushed mortgage rates a little higher. For the rest of the week, mortgage rates barely changed.

The Treasury announced on Monday that it will begin selling its remaining $142 billion in agency-guaranteed mortgage-backed securities (MBS) holdings. Beginning this month, the Treasury plans to sell up to $10 billion per month, as they wind down the emergency programs put in place in 2008 during the financial crisis. The expected increase in future supply pushed MBS prices lower. Mortgage rates, which are largely based on MBS prices, moved higher. The big question now is what the Federal Reserve plans to do with its larger $944 billion MBS portfolio. A similar announcement from the Fed would have a much larger negative effect on mortgage rates.

The housing sector data released last week was weaker than expected. February Existing Home Sales fell 10% from January. The inventory of unsold existing homes rose to an 8.6-month supply from a 7.5-month supply in January. Distressed sales accounted for 39% of all sales. Median existing home prices dropped 5% to the lowest level since April 2002. February New Home Sales fell 17%. As a result of price declines and continued low mortgage rates, home affordability is at the most favorable level in years, according to data from both the NAR and the NAHB.


The biggest economic event this week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Early estimates are for a gain of 170K jobs in March. Before the employment data, Pending Home Sales, Personal Income and the Core PCE price index will come out on Monday. Chicago PMI will come out on Thursday, and the ISM Manufacturing index will be released on Friday. Consumer Confidence, Factory Orders and Construction Spending will round out the schedule. There will be Treasury auctions on Monday, Tuesday, and Wednesday. The FDIC is expected to release its proposed definition of a Qualified Residential Mortgage (QRM) this week as well. This announcement will begin to clarify which loans will be subject to risk retention.



The market commentary material provided is from a third party vendor, MBSQuoteline, and is not necessarily the opinions of the sender or the organization they represent. This information is intended for educational purposes only and should not be construed as investment and/or mortgage advice. Additionally, the material is deemed to be accurate and reliable, but there is no guarantee it is without error.


All products are subject to credit and property approval. Program terms and conditions subject to change without notice. Not all products are available in all states or amounts. Other restrictions and limitations apply.

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