News for Prescott AZ - AmericanTowns.com

Wednesday, August 31, 2011

$100,000 :: 4200 W Road 4 North, Chino Valley AZ, 86323

We Found Meth use in this home.. (through offical Test) should the Lender be required to Disclose? I don't think they will, you tell me your thoughts.

 

Property Photo



3 beds, 2 full baths
Home size: 1,416 sq ft
Lot Size: 130,680 sq ft
Added: , Last Updated: 08/31/11
Property Type: Residential / Site Blt Sgl Fam
MLS Number: 953990
The price of this listing was last reduced on 8/4/2011 by 23%


A GREAT HOME THAT IS LOCATED IN A VERY PRIVATE PART OF CHINO VALLEY. ENJOY THE VIEWS AND THIS LARGE LEVEL LOT. A RANCH STYLE THAT HAS IT ALL. SCREENED AZ ROOM, LOT IS FULLY FENCED AND THREE OUT SIDE STRUCTURES THAT CAN BE USED FOR STORAGE AND WORKSHOP. A TRUE MUST SEE!!!

Listed with PRUDENTIAL NORTHERN AZ REAL ESTATE



Brought to you by The Bergamini Group, Realty Executives Northern Arizona. Call me today at (928) 237-4400, or visit my website at www.EverythingPrescott.com!



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Power Tools Newsletter From Theron Wall

Protect Your Computers from Being Hacked!

Computer hackers have been in the news again, breaking into big company systems and wreaking havoc with websites, customer information and general operations.

Small businesses aren't immune to such attacks. Experts say nine out of ten businesses have been hit by some form of cyber crime! And the consequences can be even more disruptive to smaller operations. Some ways to foil the hackers:

1. Have a secure password strategy.
Use a different password for each major login you use. Make sure these passwords are different from ones you have with personal accounts. And change passwords regularly, especially when someone leaves the company. Search online for good password management applications that can simplify these tasks.

2. Set access rules.
You'd be surprised at how many people freely broadcast their Wi-Fi addresses without restricting access to their desktops. Be sure to activate settings that restrict access--just to a drop box, for example. Ask a techie for help on this if you need to.


3. Keep anti-virus programs updated.
Make sure your anti-virus program is set to update automatically. Anti-virus software companies stay on the lookout for new threats and develop code updates to combat them.

4. Beware of all e-mail attachments.
Hackers often use attachments to deliver computer viruses. Only open attachments you're expecting to receive. Even if the e-mail comes from an address you know, check to make sure that person sent it. Hackers can easily steal e-mail addresses. Look out for e-mails sent to large lists of people you don't know.


5. Back up often.
Backups will protect you from a great deal of damage from hackers--plus fires and natural disasters. With a backup, you can quickly recover software, files and website content, losing only data entered since the last backup. And you'll be able to keep operating while systems are fixed. Back up hard drives at least once or twice a day and keep copies offsite if you can. 

6. Delete software you don't use.
Over time, computers collect all kinds of plug-ins, and some are security risks. Delete any plug-ins or other software code you don't need or use.


7. Don't forget physical security.
Make sure no one walks away with your computers or hard drives. Lock your office door if you'll be away for a while, or install lockable laptop cables. And do not attach unknown hardware to your computer. Iranian nuclear engineers found some thumb drives in the parking lot, brought them into their high security workspace, plugged them in and watched the Stuxnet virus take down the operation!

8. Get cyber insurance.
Cyber risks are not included on standard insurance policies, but coverage is available. You can insure for a range of computer risks: business interruption, lost income, denial of service, crisis management, privacy and security liability, media or Web content liability, even cyber extortion. Policies are offered by many large insurance companies, so there's no excuse not to be covered.


Protecting your operation isn't difficult; you just have to commit a little time to addressing the issues. But a little time spent now can pay big dividends in the future.... Enjoy a great month!

 

Happy Wednesday, August 31, 2011

 

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 or http://everythingprescott.com

 

Tuesday, August 30, 2011

Take The Fear Out of Paperwork

Connect with me on:  

Realty Executives | 503 East Gurley Street | Prescott | AZ | 86301

Arizona Department of Real Estate-Informational Alert-

 

23191952.jpg

News below is news from the State of Arizona, Department of Revenue

 

 

STATE UNVEILS ARIZONA TAX RECOVERY PROGRAM

 

PHOENIX, AZ -- Arizona is launching a tax recovery program that will run from September 1 through October 1, 2011. The legislature included the proposal in the budget bill that was passed and signed by Governor Brewer on April 6, 2011. The proposal gives individuals and businesses the opportunity to file past due Arizona state tax returns with no civil penalties and a reduced amount of interest. The goal of this program is to offer relief and a fresh start to those taxpayers who, for whatever reason, underreported or failed to file their taxes.


"Many times, taxpayers get behind in their taxes for reasons beyond their control." Arizona Department of Revenue Director John Greene explained, "This tax recovery program will give taxpayers who have fallen behind an opportunity to bring their accounts up to date."


Some individuals and businesses are not paying their fair share of taxes.  These range from those who don't realize they should be paying tax to those who deliberately underreport their taxes or refuse to file altogether. When taxpayers underreport or fail to file their taxes, it places an unfair burden on the honest taxpayers who are paying for the essential government services enjoyed by all Arizonans.


The Arizona Tax Recovery period will run from September 1 through October 1, 2011 and the tax types eligible to file include individual and corporate income, withholding, luxury, transaction privilege (sales), and use. Tax Recovery applications will only be accepted from September 1, 2011 through October 1, 2011. The total tax liability must be paid in full with the recovery application or by October 1, 2011.

For taxes filed on an annual basis, such as income tax, recovery is available for years beginning on or after January 1, 2004 and ending before January 1, 2010. Taxpayers who file taxes, such as transaction privilege or withholding, on a monthly or quarterly basis are eligible for tax periods beginning on or after January 1, 2005 and ending before January 1, 2010.

"Tax recovery is a chance for those who live, work or do business in Arizona to come clean and pay any back state taxes they owe in a manner that is advantageous for the taxpayers and the State of Arizona." said Greene. "The taxpayer can file and pay without any civil penalties or threat of prosecution and with a reduced interest rate and the state benefits by the voluntary payments which save the time and expense of audit and collection efforts."

Taxpayers should visit http://www.azdor.gov/taxrecovery.aspx for more information about the tax recovery program.  You may also call the Arizona Department of Revenue at 1-877-542-2281.

 

 

# # #

 

 

 

Is Refinishing Right For You?


Makeover Your Old Tub and Tile for a Fraction of the Cost of Buying New

Makeovers are the rage today. Dozens of home improvement television shows, magazines, and even cable networks are devoted to redecorating and remodeling. Experts tell us what we should have, what color to make it and how to do it. Unfortunately for many, the money for makeovers doesn't come as easily, especially for a bathroom remodel.  The cost of removing and replacing the avocado green bathtub and pink tile surround can cost several thousand dollars, not to mention the time it takes.

Do You Need to Save Money?

If you want a new look for your bathroom, but don't want to spend thousands of dollars remodeling, then refinishing is your best value. Removing and replacing a bathtub can cost as much as $3,000. With refinishing, you only pay about 15 percent of the cost of replacement. And anyone who has ever replaced the tiles or sink in their bathroom knows the mess and hassle of demolition, as well as the hole it can put in their wallet.

Do You Need to Save Time?

Refinishing a tub can take as little as four hours. You can shower or bathe the very next day. Replacing a tub, however, can take weeks, when you factor in the time to rip out your old tub, tear out walls and plumbing, and install the new tub, plumbing and fixtures.

Is a Refinished Tub Durable?

Refinished tubs or ceramic tiles can easily last 10 to 15 years or more when the right process and bonding is used. A new porcelain bathtub may last a few years longer, but the cost of a new tub alone can be nearly triple the cost of refinishing. Not only is it more cost-effective, many refinishers are also able to provide extras, like slip-resistant surfaces and custom colors.

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

Visit my website at:
www.BradBergamini.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


Monday, August 29, 2011

Economic Roundup: August 29, 2011

 

 

 

Mark Otthttps://www.wjbradley.com/email/portal-email/images/Wjb_Logo.gif

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

My Website

http://assets.velma.com/mott/PersonalPhoto_634399405540000000.jpg


In the News

Investors had been hoping for Federal Reserve Chairman Ben Bernanke to announce a new round of Quantitative Easing in his speech at the Economic Symposium in Wyoming Friday, but only received some hints that QE3 may be in the works for the September Fed meeting.
 
"The Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting," said Bernanke, adding, "We will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September." So, the door is still open for more Fed stimulus, but nothing set yet. Earlier this month the Fed did announce that short-term interest rates would remain near zero through 2012 and 2013.
 
Turning to the housing market, new home sales dropped to their lowest level in six months, according to the latest figures from the Census Bureau released last week. Sales of new single-family homes in July 2011 dropped to an annual rate of 298,000, the Bureau reported. This marked a 0.7 percent drop from June's revised June rate of 300,000. That said, it was 6.8 percent above July 2010's estimate of 279,000.
 
In terms of price, the median sales amount for new houses sold in July was $222,000, and the average sales price was $272,300. The estimate of new homes for sale at the end of July was 165,000, which represented a 6.6-month supply at the current sales rate.
 
"Without any meaningful job growth, we're going to continue to look at a housing sector that is moribund," Eric Green, chief market economist at TD Securities Inc., told Bloomberg.
 
Where jobs were concerned, the tough market might continue. The number of initial jobless claims for the week ending August 20 jumped by 5,000 to 417,000, according to last week's release from the Employment and Training Administration. The four-week moving average was 407,500, an increase of 4,000 from the previous week's revised average of 403,500.
 
However, the total number of insured unemployed workers during the week ending August 13 dropped to 3,641,000, a decrease of 80,000 from the preceding week's revised level of 3,721,250. The four-week moving average was 3,701,000, a decrease of 19,500 from the preceding week's revised average of 3,720,750.
 
Meanwhile, new orders for manufactured durable goods in July increased $7.7 billion or 4.0 percent to $201.5 billion, the Census Bureau reported last week. The increase followed a 1.3 percent drop in June. Excluding transportation, new orders increased 0.7 percent. Excluding defense, new orders increased 4.8 percent. The largest increase was seen by transportation equipment, which saw a $6.7 billion increase, or 14.6 percent, to $53.0 billion. This was led by non-defense aircraft and parts which increased $3.2 billion.
 
Shipments of manufactured durable goods in July, up seven of the last eight months, increased $5.0 billion or 2.5 percent to $202.2 billion. This followed a 1.1 percent June increase. However, inventories of manufactured durable goods were at an all-time high in July. Up 19 consecutive months, inventories increased $2.9 billion or 0.8 percent to $361 billion. This was at the highest level since 1992, and followed a 0.6 percent June increase.
 
This week sees a number of financial headlines, starting today with personal income and spending for July from the Bureau of Economic Analysis. This is followed tomorrow by July's consumer confidence data from The Conference Board.
 
Wednesday the Census Bureau releases its data for July's factory orders, and Thursday the Employment and Training Administration releases its totals for initial jobless claims for last week. Also on Thursday will be new car and truck sales for August from the auto manufacturers; July's construction spending from the Census Bureau; and second quarter non-farm productivity and labor costs from the Bureau of Labor Statistics.
 
This week's financial news wraps up on Friday with August's unemployment rate, payrolls, hourly earnings and average work week from the Bureau of Labor Statistics.
 
 

 

 

© 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.  WJB is not acting on behalf of or at the direction of HUD/FHA or the federal government.

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 www.dora.state.co.us/real-estate/index.htm; Florida Mortgage Lender license #MLD285; ID Mortgage Broker License No. MBL-2803; IL Residential Mortgage Licensee – License #MB.6760738, 201 Columbine Street, Suite 300, Denver, CO 80206; 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-NMLC; Vermont Broker License #0995MB; Vermont Lender License #6141; WA Consumer Loan License No. CL-3233; Wisconsin Mortgage Banker License No. 699991. NMLS consumer access: www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/3233.

 

 

Weekly Market Update from Curt Dalpiaz

 

 

August 29, 2011

 



Curt & Shannon Dalpiaz
Loan Officer Team
141 S McCormick Street
Suite #107
Prescott, AZ 86303
Ph-928-777-8971
curt.dalpiaz@academymortgage.com
shannon.dalpiaz@academymortgage.com


Hello Brad,

As students prepare for a new school year, it brings to mind the old saying that learning never ends. It's especially exciting to learn when you're part of a team. In the classroom or our industry, I'm glad that we're learning together and sharing opportunities for success.

In an ever-challenging economy, my goal is to deliver exceptional financing so that all of your real estate transactions go through without a hitch. You can count on me to be there for you whenever you need assistance. I'm motivated to add as much value as possible.

Sincerely,

Curt Dalpiaz
curt.dalpiaz@academymortgage.com

 

 

 

No Surprises from Bernanke

 

Highlights

Average 30 yr fixed rate

Stocks (Weekly)

 

Second quarter GDP was revised lower from 1.3% to 1.0%

Continuing Jobless Claims fell to the lowest level since September 2008

Moody's downgraded the credit rating of Japan's government debt

The Fed's Hoenig said that he doesn't expect a double-dip recession in the US

 

This week: +0.02%

 

Dow: 11,300 +300

 

 

 

Last week: -0.10%

 

NASDAQ: 2,475 +75

 

 

It was another volatile week for mortgage rates. The primary factors influencing rates roughly offset each other, and mortgage rates ended the week just a little higher.

A wide range of economic news caused investors to either add or reduce risk at a rapid pace last week. News which generally encouraged increased exposure to risky assets helped stocks and hurt mortgage rates early in the week, while the opposite took place later in the week. Mixed US economic data, continued concerns about European debt, a highly anticipated speech from Fed Chief Bernanke, and uncertainty about the impact of Hurricane Irene all contributed to the daily volatility.

In Friday's speech, Fed Chief Bernanke gave no hint of any change in Fed policy, disappointing some investors hoping for looser monetary conditions. He stated that at its September meeting the Fed will consider whether additional monetary stimulus measures are called for, but that fiscal policy changes by lawmakers are needed to help the economy and the labor market. Following the speech, the consensus view is that the Fed is unlikely to make significant policy changes for a while.



The biggest economic report this week will be the important Employment data 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. Before the employment data, Pending Home Sales, Core PCE inflation, and Personal Income will be released on Monday. Chicago PMI Manufacturing and ADP Employment will come out on Wednesday. ISM Manufacturing, Construction Spending, and Productivity are scheduled for Thursday. Factory Orders and Consumer Confidence will round out a busy week.

 

 

 

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.

E-Mail Security Information


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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.

Academy Mortgage Corporation
1218 East 7800 South #100
Sandy, UT 84094
p. 801-233-3700

Equal Housing Lender


Company NMLS ID # 3113 LO License #912852 Company License # 0904081 LO NMLS #243638


© 2011 LoyaltyExpress

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 or http://everythingprescott.com

 

 

Inside Lending Newsletter From Theron Wall

 

Inside Lending from Theron Wall

visit my website     email me now

Theron Wall

Theron Wall
Sr. Mortgage Consultant
1575 Plaza West Drive, Suite C
Prescott, AZ 86303
Office: 928.445.8730
Fax: 928.445.1065
Cell: 928.533.7473

Wallick & Volk Mortgage

For the week of August 29, 2011 – Vol. 9, Issue 35

Please note: We all know mortgage rates are extremely low and refinance activity has increased; however, our primary focus is, and always will be, on providing professional, caring service to our partners. Thank you for trusting us to get the job done for you and your clients.

>> Market Update 

QUOTE OF THE WEEK..."In the middle of difficulty lies opportunity."--Albert Einstein

INFO THAT HITS US WHERE WE LIVE
...Last week's "difficulty" for the housing market came from the news that New Home Sales dropped 0.7% for July, to a 298,000 annual rate. They've been in this low range since May of last year, competing with existing homes selling at discounts. But there is opportunity. The inventory of new homes dropped to its lowest level on record. Equally encouraging, the new home median price is up 4.7% over a year ago and the average price is up 8.0%.

Some analysts feel home sales this fall will be better than last, as supply remains manageable and existing homes for sale are 20% below peak levels. We already see the FHFA index, measuring prices for homes financed by conforming mortgages, UP 0.9% for June, its third monthly rise in a row and the biggest monthly gain since 2005. But the index is still 4.3% under where it was a year ago.

BUSINESS TIP OF THE WEEK...Use the three-click rule on your website. Visitors need to find what they're looking for in three clicks, or they leave. Simplify the search process with prominent icons and clearly labeled categories.

>> Review of Last Week

RALLY CAPS BACK ON...Investors, focused on some positive economic indicators, sent stock prices up for the week for the first time in over a month. There was some negative regional manufacturing data, but these surveys sometimes reflect sentiment more than business activity. Chain-store sales also slowed a little, typical for August, but they're still comfortably above last year's levels. Friday, real GDP growth was revised down to 1.0% for Q2, but business investment was revised up and inventories down, both good signs for better growth the last six months of the year. 

Indisputably positive news came with July Durable Goods orders UP 4%, a level of business investment that makes it hard to argue for a double dip recession. Shipments of core capital goods (no aircraft or defense items) are UP 9.5% for the year. Friday the focus was on Fed Chairman Ben Bernanke's speech in Jackson Hole, Wyoming. He repeated his view that the recovery is slower than he had hoped for and he's prepared to use whatever tools are needed, but there would be no changes to monetary policy right now.

For the week, the Dow ended UP 4.3%, to 11285; the S&P 500 was UP 4.7%, to 1177; and the Nasdaq was UP 5.9%, to 2480.


Better investor sentiment drove folks back into riskier stocks and sent bond prices down. The FNMA 3.5% bond we're tracking closed Friday at $100.25, down .89 for the week. National average mortgage rates finally edged up a bit from their record low levels, but still remain at historically very attractive rates.

DID YOU KNOW?
...A basis point is one hundredth of a percentage point, or 0.01%. It is used to measure changes or differences in yields on bonds, as these often move by very small amounts.

>> This Week’s Forecast

PENDING HOME SALES, INFLATION, FED MINUTES, AUGUST JOBS...You'd have to be a glutton for economic data to want more than we're getting this week. People of our persuasion will focus on June Pending Home Sales, expected to be off a smidge. Personal Income and Spending should be up a tad and inflation measured by Core PCE Prices should also be up, but well within Fed guidelines.

FOMC Minutes from the Fed's August 9 meeting might prove interesting, as that's when our central bank promised to keep the Funds Rate super low for another two years, but there were some strong "nay" votes. Hmmm. Of course we'll all focus on Friday's August Employment Report, expected to show job growth, though no better than the mild levels we've had--and no improvement in the unemployment rate.

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Economic Calendar for the Week of Aug 29 – Sep 2

 Date

Time (ET)

Release

For

Consensus

Prior

Impact

M
Aug 29

08:30

Personal Income

Jul

0.4%

0.1%

Moderate

M
Aug 29

08:30

Personal Spending

Jul

0.5%

-0.2%

HIGH

M
Aug 29

08:30

Core PCE Prices

Jul

0.2%

0.1%

HIGH

M
Aug 29

10:00

Pending Home Sales

Jun

-1.4%

2.4%

Moderate

Tu
Aug 30

10:00

Consumer Confidence

Aug

52.0

59.5

Moderate

Tu
Aug 30

14:00

FOMC Minutes

8/9

NA

NA

HIGH

W
Aug 31

09:45

Chicago PMI

Aug

52.5

58.8

HIGH

W
Aug 31

10:30

Crude Inventories

8/27

NA

-2.213M

Moderate

Th
Sep 1

08:30

Initial Unemployment Claims

8/27

408K

417K

Moderate

Th
Sep 1

08:30

Continuing Unemployment Claims

8/20

3.660M

3.641M

Moderate

Th
Sep 1

08:30

Productivity-Rev.

Q2

-0.5%

-0.3%

Moderate

Th
Sep 1

10:00

ISM Index

Aug

48.5

50.9

HIGH

F
Sep 2

08:30

Average workweek

Aug

34.3

34.3

HIGH

F
Sep 2

08:30

Hourly Earnings

Aug

0.2%

0.4%

HIGH

F
Sep 2

08:30

Nonfarm Payrolls

Aug

75K

117K

HIGH

F
Sep 2

08:30

Unemployment Rate

Aug

9.1%

9.1%

HIGH

 

>> Federal Reserve Watch   

Forecasting Federal Reserve policy changes in coming months...At their last meeting, the Fed said they intend to keep the Funds Rate at present low levels through the first half of 2013. No one expects anything different. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

Current Fed Funds Rate: 0%–0.25%

After FOMC meeting on:

Consensus

Sep 20

0%–0.25%

Nov 2

0%–0.25%

Dec 13

0%–0.25%


Probability of change from current policy:

After FOMC meeting on:

Consensus

Sep 20

     <1%

Nov 2

     <1%

Dec 13

     <1%

 

This e-mail is an advertisement for Theron Wall. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of Wallick & Volk Mortgage and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of Wallick & Volk Mortgage. BK 0018295 NMLS #256412



Equal Housing Lender  

 

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 or http://everythingprescott.com

 

 

Friday, August 26, 2011

Ways To Hold Title

 

Ways To Hold Title

Title is the evidence that you own your home. How you "hold title" refers to the various forms of ownership, each with different rights and obligations. Here are brief descriptions of the customary ways to hold title.

  • Sole Ownership  You alone own all interest in the home. If you're married, the spouse is usually asked to formally give up any ownership claim by signing a "quit claim deed."
  • Joint Tenancy  Two or more people hold title to the home together. Each owns the home as a whole and has a right to equal use of it. With rights of survivorship, when one joint tenant dies, that person's interest automatically transfers to the remaining living co-tenants, rather than to heirs named in a will.
  • Tenancy by the Entirety  A few states have this special form of joint tenancy for husbands and wives. They hold title together, neither can take independent action to create an ownership claim or lien on the home, and upon the death of either, the other gets full title to the property.
  • Tenancy in Common  Each of the owners can have either equal or unequal interests. You may own 40% of your home while 60% is owned by parents or another relative. Each owner can use the entire property. Owners can sell their shares, give them away, or will them to someone. This can cause problems, so people often write agreements limiting how property transfers can be done.
  • Community Property  Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin have community property laws for real estate owned by a married couple. Each spouse has a half interest in the property with certain rights. Each state has its own laws, so be sure to check the provisions if you're married and purchasing in one of these nine states.

How you hold title has serious legal implications. So consult with an attorney for all the details on your current and future rights for each way to hold title. Then choose which type of ownership is best for you.

We're happy to help with this or any other home or financing questions. Just call us or reply to this email...and best wishes in this and all your endeavors!


 

 

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 or http://everythingprescott.com

 

 

Monday, August 22, 2011

Economic Roundup: August 22, 2011

 

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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

My Website

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Stocks ended another wild week of volatile trading that left many Wall Street watchers wondering when the daily whipsawing would end. Once again, the market volatility was driven by a combination of the foreign debt crises; the U.S. debate on its own debt remaining somewhat unresolved; poor performance by major tech players such as Hewlett Packard and IBM; and investor trepidation over recent market losses.
 
"Investor angst remains very high," Todd Colvin, vice president at MF Global, told the Wall Street Journal. "Good volume associated with a down move typically isn't a fluke. We're probably in store for lower prices from here."
 
Real estate was also a key newsmaker last week, with both existing home sales and construction starts for new homes showing a dip during July.
 
Sales of existing single-family homes, townhomes, condominiums and co-ops fell 3.5 percent to an annual rate of 4.67 million in July from 4.84 million in June, according to the National Association of REALTORS® (NAR). Last month's figures were 21 percent above July 2010's 3.86 million-unit sales figure, which was a cyclical low immediately following the expiration of the home buyer tax credit.
 
"Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers," said Lawrence Yun, NAR's chief economist. "Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate additional economic activity and create jobs."
 
In terms of pricing, the national median existing-home price for all housing types was $174,000 in July, down 4.4 percent from July 2010. Distressed homes, such as foreclosures and short sales, accounted for 29 percent of sales in July, compared with 30 percent in June and 32 percent in July 2010. (Distressed homes are typically sold at deep discounts.)
 
Switching to new homes, building permits for privately owned housing units issued in July dipped to an annual rate of 597,000, according to the Census Bureau. This was 3.2 percent below June's revised rate of 617,000, but 3.8 percent above July 2010's estimate of 575,000. Notably, permits for single-family authorizations in July were at a rate of 404,000, which was a slight 0.5 percent above the revised June figure of 402,000.
 
Construction starts on privately owned housing for July dropped to an annual rate of 604,000, which was 15 percent below June's revised estimate of 613,000, but is 9.8 percent above the July 2010 rate of 550,000. Starts for single-family homes in July were at a rate of 425,000; this is 4.9 percent below the revised June figure of 447,000.
 
That said, completions of new homes were up. Construction completions of privately owned housing in July hit an annual rate of 636,000, which is 11.8 percent above the revised June estimate of 569,000, and 9.5 percent above the July 2010 rate of 581,000. Completions of single-family housing units in July were at a rate of 470,000; this is 6.1 percent above the revised June rate of 443,000.
 
Moving over to inflation news, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July, the U.S. Bureau of Labor Statistics reported last week. Over the last 12 months, prices for the "all-items" index increased 3.6 percent before seasonal adjustment.
 
The gasoline index rebounded from previous declines and rose sharply in July, which accounted for roughly half of July's all-items increase. Groceries consumers purchased also accelerated July's overall increase, as dairy and fruit prices posting notable gains.
 
The index for all items less food and energy increased as well, moving upward by 0.2 percent. Contributors to that gain included the shelter index, which accelerated in July, and the apparel index, which increased sharply.
 
In contrast, the index for new vehicles was unchanged after a long string of increases. The index for household furnishings and operations was flat in July as well, and the recreation index declined slightly.
 
Producer prices were also up, with the Producer Price Index for finished goods rising 0.2 percent in July, the bureau also reported. This advance followed a 0.4-percent decrease in June and a 0.2-percent rise in May. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 0.2 percent in July, and the crude goods index declined 1.2 percent.
 
Claims for initial jobless benefits for the week ending August 13 reached 408,000, an increase of 9,000 from the previous week's revised figure of 399,000, the Employment and Training administration reported last week. The four-week moving average was 402,500, a decrease of 3,500 from the previous week's revised average of 406,000.
 
The advance number for insured unemployed workers during the week ending August 6 was 3,702,000, an increase of 7,000 from the preceding week's revised level of 3,695,000. The four-week moving average was 3,716,000, a decrease of 4,500 from the preceding week's revised average of 3,720,500. This week's slate of economic news is relatively light, starting off tomorrow with July's new home sales totals from the Census Bureau, which follows up on Wednesday with July's durable goods orders.
 
On Thursday, the Employment and Training Administration will release last week's initial jobless claims data. On Friday the Bureau of Economic Analysis will release the second quarter's gross domestic product, and the University of Michigan will release its consumer sentiment figures for August.

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