News for Prescott AZ - AmericanTowns.com

Monday, July 30, 2012

Prescott AZ Real Estate

 

Prescott AZ Real Estate


$349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301

Posted: 28 Jul 2012 08:09 AM PDT

 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301

4 beds, 3 full baths
Home size: 2,366 sq ft
Lot Size: 9,147 sq ft
Added: 07/27/12, Last Updated: 07/28/12
Property Type: Residential / Site Blt Sgl Fam
MLS Number: 964336
Tract: Haisley Homestead

Beautiful Granite counter-tops and high end cabinetry is just a few of the custom designed features in this modern contemporary home. Bordering huge green belt and is on the end of a cul-de-sac this is one of the most private homes in Haisley Homestead. Great room w/fireplace, and towering doors & windows which open onto a large deck. Large bedrooms, open master w/lovely spa-like bath and dual sinks. Finished walk out basement game/media room.

Listed with REALTY EXECUTIVES NORTHERN ARIZONA


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!


 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301

 $349,000 :: 345 Banning Creek Rd., Prescott AZ, 86301

 

 

Inside Lending Newsletter From Theron Wall

Inside Lending from Theron Wall

visit my website    email me now

Theron Wall

Theron Wall
Sr. Mortgage Consultant
3767 Karicio Lane, Ste B
Prescott, AZ 86303
Office: 928.445.8730
Fax: 928.445.1065
Cell: 928.533.7473

Wallick & Volk Mortgage

For the week of July 30, 2012 – Vol. 10, Issue 31

 

>> Market Update 

QUOTE OF THE WEEK... "Sometimes life hits you in the head with a brick. Don't lose faith." --Steve Jobs, American businessman, designer and inventor

INFO THAT HITS US WHERE WE LIVE
... Last week's housing reports weren't quite the head shot Apple's co-founder referred to, but they still required us to keep the faith. June New Home Sales were down 8.4%, coming in at a 350,000 annual rate. But the trend of a gradual recovery is still there, with new home sales UP 15.1% versus a year ago. The new home median price is down 3.2% versus a year ago, yet the average price is UP 0.3% and the inventory of completed new homes is at the lowest level on record, a 4.9 month supply.

Thursday we got the news that Pending Home Sales for June dipped 1.4%, but the number was still UP 9.5% from a year ago, making 14 months in a row of year-over-year gains. This measure of existing homes under contract could foretell a small glitch in sales a few months out. The FHFA index of prices for homes financed with conforming mortgages gained 0.8% in May and is 3.7% ahead of a year ago. This home price index is up at a 13.3% annual rate the last three months, its fastest three-month pace in twenty years!

BUSINESS TIP OF THE WEEK... Capitalize on your downtime. While waiting for a meeting or standing in a checkout line, Tweet, work on a new marketing idea or think of some new prospects to target.

>> Review of Last Week

EUROPEANS SEND DOW UP OVER 13,000... Last Wednesday, European Central Bank President Mario Draghi said the ECB would do "whatever it takes to preserve the euro." The next day he revealed he's considering bond buying, a rate cut and a new LTRO (Long-Term Refinancing Operation) to shore up banks holding sovereign debt as collateral. With the Eurozone financial system getting this kind of support, investors celebrated by going on a buying spree in the equity markets. The Dow shot back up over 13,000, while the S&P 500 and the Nasdaq also scored healthy gains.

Health was not the economic theme, as the first estimate of Q2 GDP growth came in at a tepid 1.5% rate, down from Q1's 1.9% rate. This had observers wondering if the Fed would step in this week with a new round of quantitative easing -- an attempt to stimulate the economy with an injection of money. Most think the Fed will wait until after Friday's jobs report. Help of some kind is clearly needed, as 60% of the firms reporting Q2 earnings missed top line expectations. In other words, sales are down for lots of folks. The housing market seems to have stabilized, but a slowing economy won't help.

For the week, the Dow ended UP 2.0%, to 13076; the S&P 500 was also UP 1.7%, to 1386; and the Nasdaq climbed 1.1%, to 2958. 


All the good news from Europe was bad news for bonds. Treasuries ended the week under pressure as investors moved back into riskier stocks. The FNMA 3.5% bond we watch ended the week down .82, at $105.23. Freddie Mac's weekly survey reported another dip in average U.S. mortgage rates. Some economists expect mortgage demand to be stronger in this continuing ultra-low rate environment.

DID YOU KNOW?
... Treasuries, or T-Bills, are negotiable debt obligations issued and backed by the full faith and credit of the U.S. government. They have a maturity of a year or less and are exempt from state and local taxes.

>> This Week’s Forecast

WATCHING THE FED, LOOKING FOR JOBS... Plenty of economic points to ponder this week, but they all pale next to the Fed's FOMC Rate Decision and Friday's July Employment Report. No one sees the rate rising, but some think the central bank may announce more quantitative easing. Job creation is expected to remain weak, with the unemployment rate holding at its unacceptably high level.

In other items of interest, Personal Income is forecast up a bit and Core PCE Prices under control. ISM Manufacturing should show contraction overall, since the sector has slowed, although the Chicago PMI is expected to expand slightly.

>> 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 Jul 30 – Aug 3

 Date

Time (ET)

Release

For

Consensus

Prior

Impact

Tu
Jul 31

08:30

Personal Income

Jun

0.4%

0.2%

Moderate

Tu
Jul 31

08:30

Personal Spending

Jun

0.1%

0.0%

HIGH

Tu
Jul 31

08:30

PCE Prices - Core

Jun

0.1%

0.1%

HIGH

Tu
Jul 31

08:30

Employment Cost Index

Q2

0.5%

0.4%

HIGH

Tu
Jul 31

09:45

Chicago PMI

Jul

52.5

52.9

HIGH

Tu
Jul 31

10:00

Consumer Confidence

Jul

61.0

62.0

Moderate

W
Aug 1

10:00

ISM Manufacturing

Jul

49.9

49.7

HIGH

W
Aug 1

10:30

Crude Inventories

07/28

NA

2.717M

Moderate

W
Aug 1

14:15

FOMC Rate Decision

08/01

0%-0.25%

0%-0.25%

HIGH

Th
Aug 2

08:30

Initial Unemployment Claims

07/28

365K

353K

Moderate

Th
Aug 2

08:30

Continuing Unemployment Claims

07/21

3.298M

3.287M

Moderate

F
Aug 3

08:30

Average Workweek

Jul

34.5

34.5

HIGH

F
Aug 3

08:30

Hourly Earnings

Jul

0.2%

0.3%

HIGH

F
Aug 3

08:30

Nonfarm Payrolls

Jul

100K

80K

HIGH

F
Aug 3

08:30

Unemployment Rate

Jul

8.2%

8.2%

HIGH

F
Aug 3

10:00

ISM Services

Jul

52.2

52.1

Moderate

 

>> Federal Reserve Watch   

Forecasting Federal Reserve policy changes in coming months... The Fed has stated it does not want to raise the Funds Rate until well into the future. 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

Aug 1

0%–0.25%

Sep 13

0%–0.25%

Oct 24

0%–0.25%


Probability of change from current policy:

After FOMC meeting on:

Consensus

Aug 1

     <1%

Sep 13

     <1%

Oct 24

     <1%

UIE 

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  

 

Wednesday, July 25, 2012

Short Sales vs Foreclosures: the Banks

 

Short Sales vs Foreclosures: the Banks

Posted: 25 Jul 2012 04:00 AM PDT


This week, we are looking at the advantages of a short sale over a foreclosure from five different perspectives: Sellers', Neighborhoods', Banks', Prices and the Children. – The KCM Crew

The banks are beginning to favor offering a short sale to distressed homeowners rather than foreclosing for several reasons:

§ The short sale sells on average for $27,000 more than a foreclosed property.

§ The bank does not have to take on the expenses and maintenance of a vacant home in a short sale.

§ The banks realize a vacant house impacts the values of other homes in the area thus devaluing assets that they may also hold a mortgage on.

§ Some courts have questioned whether the foreclosure process was correctly followed on some homes. This could place a cloud on the title of such homes. In a short sale, there are no title challenges as the original seller signs away title at the closing.

It is for the above reasons that bankers are beginning to favor short sales over foreclosures.

Tomorrow, we will look at the impact of a short sale compared to a foreclosure on prices.

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Monday, July 23, 2012

News from City of Prescott Office of Tourism

 

 

 

 

 

Free Downtown Walking Tours

Undertake free, guided historic walking tours of downtown Prescott every Friday, Saturday and Sunday through October 26 at 10:00 am. Just meet outside the Chamber of Commerce (117 W. Goodwin Street) 10-15 minutes before 10

for your tour.

 

Walking tours are not conducted when there are special events on Courthouse Plaza. Visit the Chamber of Commerce website under "Community Calendar" for walking tour details.

 

"Hopi Summer"

Smoki Museum

Based On the Book by Carolyn O'Bagy Davis, this exhibit features Hopi pottery and memorabilia reflecting the Hopi community in the 1920's.

The book describes a trip by an Eastern family to the Hopi mesas in 1927 and an amazing friendship that family developed with a Hopi family.  

The exhibit includes several photographs that depict the struggles of travel at that time,  as well as features of the Hopi community.

The book, Hopi Summer, was selected in 2011 by OneBookAz as the book Arizonans have chosen as the one they want to read. Many of the items in the exhibit are on loan from Wesleyan University.

 

"Centennial Canvas"

SHM sign

"Centennial Canvas: Paintings by Prescott Artists" is Sharlot Hall Museum's exhibition and sale of new paintings by 10 prominent Prescott artists that capture the beauty and culture of the Prescott area.

The exhibit is being held in conjunction with Arizona's centennial celebration. Visit the Museum at 415 W. Gurley Street--this exhibition runs through September 9. 

Prescott Office of Tourism

 

This is a special newsletter of the City of Prescott Office of Tourism, highlighting the upcoming annual Prescott Film Festival (August 1-8) and offering a selection of other area events taking place during that time.

 

 

Prescott Film Festival

August 1-8

Yavapai College
1100 E. Sheldon St.

 

The Prescott Film Festival is packed with fantastic films, workshops and guest filmmakers
this year.

Academy Award winning screenwriter Michael Blake will conduct a workshop at the Prescott Public Library (215 E. Goodwin Street) on Saturday morning, 10:00 am to 12:00 pm.  

The film festival will salute Arizona's Centennial this year at the Festival's annual wine tasting. Enjoy a screening of the classic film Dances with Wolves. Michael Blake wrote the book on which the film is based in Bisbee, Arizona, along with the screenplay for which he won an Academy Award. To further link the book, film and Arizona, the Prescott Film Festival will feature wines from Cochise County at the wine tasting; Arizona Stronghold and Lawrence Dunham.  

This year the Prescott Film Festival will screen over 80 films from August 1-8 on the campus of Yavapai College (1100 E. Sheldon Street). The college boasts an 1,100 seat theatre newly remodeled with a 10,000 lumen projector and Dolby Surround Sound.  

Additional rooms have been upgraded and are ready for audiences to enjoy first class entertainment in comfortable and convenient surrounding. Take advantage of free, all-day parking lots and theaters within walking distance of each other. Box lunches, along with classic movie treats, will be available at the snack bar.  

Many guest filmmakers are scheduled to attend the screenings of their films and there will be Q & A sessions after each film when the filmmakers are present.  

Stunt Man Joe Pronto promises a fun and informative workshop as he talks about his experiences in Hollywood. Mr. Pronto did stunts for films from The French Connection to Blazing Saddles.

To buy tickets and passes, visit the festival website at www.prescottfilmfestival.com. Find the films you want to see and click on the yellow "Buy Tickets" link. Alternately, you may call the Festival Box Office at 928-458-7209 or head over to the Festival Box Office (Building 15, behind the Yavapai College Performing Arts Center). The Box Office is open from 8:00 am to 5:00 pm, Monday through Saturday starting July 19

 

Prescott Film Festival Workshops

August 1-5

Various locations

 

The Prescott Film Festival features seven FREE workshops this year on topics such as improvisation and stunt work. Following is a complete schedule of the workshops

Joe Pronto Presents: The Life and Times of a Hollywood Stuntman
August 1, 3-5 pm
Yavapai College
Building 15 Room 209

Sam Ingraffia & Doug Burch Present: To Don't List; 10 Things Not to Do While Making an Independent Film
August 2, 3-5 pm
Yavapai College
Building 15, Room 209

Sam Ingraffia & Doug Burch Present: From Script Development to Film Distribution
August 3, 3-5 pm
Yavapai College
Building 15, Room 209

Dances with Wolves Academy Award® Winning Screenwriter Michael Blake  
August 4, 10 am-12 noon
Prescott Public Library
Founder's Suite A & B

Sean Kapera Presents: IMPROV; Improvisational Acting and Theatre Games 
August 4, 2-4 pm
Yavapai College
Building 15, Room 209

Sean Kapera Presents: SAG-AFTRA: Working with Professional Performers; Yeah, It's Possible!  
August 5, 12-1:30 pm
Yavapai College
Building 15, Room 209

Vince Duque Presents: Hollywood: Easy to Get In; Hard to Stay In
August 5, 2-4 pm
Yavapai College
Building 15, Room 209 
 

 

Downtown Summer Concert Series

Thru September 5

Prescott Courthouse Plaza
120 S. Cortez St.

 

Enjoy free, live entertainment every Tuesday through Friday (and some Saturdays), June 1
through September 5.

Jazz every Tuesday, movies every other Wednesday, Prescott Karaoke Idol every Thursday, and
various bands on Fridays and Saturdays.

August 1 - Movies in the Park: "Yours, Mine and Ours"
August 2 - Prescott Karaoke Idol
August 3 - Rhythm Guild (rock/blues/jazz)
August 7 - Jazz a la Mode (jazz)
August 8 - Lynx Creek Cloggers

 

Zoo By Moonlight

Thru September 30

Heritage Park Zoological Sanctuary
1403 Heritage Park Rd.
Heritage Park Zoological Sanctuary

 

It's a full moon at the zoo--come out for a howling good time. Bring your flashlight or buy
one there for Zoo by Moonlight at Heritage Park Zoological Sanctuary. Come see their
nocturnal residents out and about. Special admission prices: Members $3, non-members $5,
under 3 is always FREE.

For more information call 928-778-4242 x16 or visit the Heritage Park Zoological Sanctuary website.

Additional dates:
August 31
September 30

 

"History Meets Hollywood"

August 4

Hassayampa Inn, 11:00 am to 4:00 pm
122 E. Gurley St.

 

Some moments are meant to be golden. The spotlight shines brightly for a very special
afternoon at Prescott's historic Hassayampa Inn. Enjoy the ambiance of the hotel's lobby
where early silver screen star Tom Mix rode his horse up the grand staircase.

Lunch, then immerse yourself in an engaging forum as historians illuminate how Arizona's Western heritage influenced the development of early Hollywood Western cinema.

Hosted by Bob Boze Bell and Julie Ann Ream.

Featruing a no host lunch and bar, discusssion panels, book signings, silent auction, raffle prizes, and Hollywood and Yavapai County film memorabilia.

Additional guest appearances by Michael Blake (screenwriter, Dances with Wolves), Tantoo Cardinal (Medicine Woman, Dances with Wolves), Marshall Trimble (Arizona Official State Historian) and additional VIP guests to be announced.

To learn more, email info@historymeetshollywood.com or visit their website.

 

 

 

 

Interest Rate Charts from Theron Wall

 

 

Hello-

We hope these charts provide food for thought for anyone wondering if now is a good time to get off the fence regarding a home purchase or refinance.

Click Here for the 30 Year FHLMC Rates On 30-Year Fixed-Rate Mortgage Chart

Click Here for the 200 Year Historical Rates On 30-Year Fixed-Rate Mortgage Chart

Click Here for the 20 Year FHA Interest Rate Average For 30 Year Fixed-Rate Mortgage Chart

Please give us a call or email if there's anything we can do for you!

Theron Wall
Sr. Mortgage Consultant
Wallick & Volk Mortgage
3767 Karicio Lane, Ste B
Prescott, AZ 86303
Office: 928.445.8730
Fax: 928.445.1065
Cell: 928.533.7473
www.theronwall.com

This was sent to you because of your relationship with 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. Wallick & Volk Mortgage is an Equal Housing Lender. BK 0018295 NMLS #256412



Equal Housing Lender  

 

Inside Lending News From Theron Wall

 

 

 

 

Inside Lending from Theron Wall

visit my website    email me now

Theron Wall

Theron Wall
Sr. Mortgage Consultant
3767 Karicio Lane, Ste B
Prescott, AZ 86303
Office: 928.445.8730
Fax: 928.445.1065
Cell: 928.533.7473

Wallick & Volk Mortgage

For the week of July 23, 2012 – Vol. 10, Issue 30

 

>> Market Update 

QUOTE OF THE WEEK... "Never, never, never give up." --Winston Churchill

INFO THAT HITS US WHERE WE LIVE
... The famed British statesman's advice certainly applies to the housing market. Indeed, those who haven't given up are starting to see positive signs. Wednesday, June Housing Starts were UP 6.9% for the month, UP 23.4% compared to a year ago and at their highest annual rate since October 2008.The total number of homes under construction (started but not finished) gained for the tenth month in a row, the first time that's happened since 2003-2004. No wonder Home Builder Confidence had its biggest monthly jump in almost 10 years.

Thursday,
Existing Home Sales were off 5.4% for June, but they're still UP 4.5% compared to a year ago. The median price of an existing home, at $189,400, is UP 7.9% over a year ago, the largest annual gain since 2006. Average existing home prices are UP 6.9% versus last year, inventory is down 24.4% from a year ago and the supply of existing homes for sale is at 6.6 months. Some economists are even predicting that housing will add to GDP this year for the first time since 2007.

BUSINESS TIP OF THE WEEK... Instead of spending hours on all your marketing efforts, work in 15-minute bursts on one thing at a time -- for example, newsletter content, then tweets, then a Facebook survey.

>> Review of Last Week

ANXIOUSLY UP... Stocks fell Friday thanks to new anxieties over European sovereign debt (Spain again) and the Dow and the Nasdaq gave up all their July gains, although the three market indexes ended higher for the week. Fed Chairman Ben Bernanke didn't do much to relieve the anxiety, sharing his weaker economic outlook with Congress in his semi-annual testimony. Corporate earnings season began with a number of disappointing reports and even some of the positive ones were well-received only because of lowered expectations.

The week got off to a horrible start with June Retail Sales down 0.5%, dropping  for the third month in a row. This clearly shows the economy slowing in Q2, although retail sales excluding autos are still up 3% in the last 12 months. Manufacturing data was mixed, with growth in New York, contraction in the Philadelphia region and Industrial Production up 0.4% overall. New weekly unemployment claims shot up by 24,000, heading back toward the 400,000 level. But the Fed's Beige Book hinted that reports on residential housing were "largely positive."

For the week, the Dow ended up 0.4%, at 12823; the S&P 500 was also up 0.4%, to 1363; and the Nasdaq climbed 0.6%, to 2925. 


Even though stocks held their own midweek, the hammering they took on Friday over Eurozone worries sent investors scurrying to bonds. Prices went northward, with the FNMA 3.5% bond we watch ending the week UP .83, at $106.05. Average U.S. mortgage rates were mostly lower with some types of mortgages reaching all-time lows in Freddie Mac's weekly survey. Their Chief Economist said, "With little signs of inflation and...U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market."

DID YOU KNOW?
... The net worth of an individual is the amount by which all their assets, including cash, exceed their liabilities.

>> This Week’s Forecast

NEW HOME SALES, PENDING HOME SALES, Q2 GDP... Housing and economic growth are the big topics this week. June New Home Sales are expected to show slow but steady upward movement. June Pending Home Sales, tracking contract signings on existing homes, should be up, but not by as much as the month before. This is an indicator for existing home sales a couple of months out.

All eyes will be on Friday's Q2 GDP read. Unfortunately, many economists are predicting slower growth from the original estimate, which was already down from the Q1 number.

>> 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 Jul 23 – Jul 27

 Date

Time (ET)

Release

For

Consensus

Prior

Impact

W
Jul 25

10:00

New Home Sales

Jun

374K

369K

Moderate

W
Jul 25

10:30

Crude Inventories

07/21

NA

–0.800M

Moderate

Th
Jul 26

08:30

Initial Unemployment Claims

07/21

375K

386K

Moderate

Th
Jul 26

08:30

Continuing Unemployment Claims

07/21

3.300M

3.300M

Moderate

Th
Jul 26

08:30

Durable Goods Orders

Jun

1.0%

1.3%

Moderate

Th
Jul 26

10:00

Pending Home Sales

Jun

0.7%

5.9%

Moderate

F
Jul 27

08:30

GDP–Advanced

Q2

1.2%

1.9%

Moderate

F
Jul 27

08:30

GDP Deflator–Advanced

Q2

1.5%

2.0%

Moderate

F
Jul 27

09:55

Univ. of Michigan Consumer Sentiment–Final

Jul

72.0

72.0

Moderate

 

>> Federal Reserve Watch   

Forecasting Federal Reserve policy changes in coming months... Virtually no economist alive expects the Fed to raise the Funds Rate for quite some time. 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

Aug 1

0%–0.25%

Sep 13

0%–0.25%

Oct 24

0%–0.25%


Probability of change from current policy:

After FOMC meeting on:

Consensus

Aug 1

     <1%

Sep 13

     <1%

Oct 24

     <1%

UIE 

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


This em it is.

Equal Housing Lender  

 

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