News for Prescott AZ - AmericanTowns.com

Tuesday, November 27, 2012

More GREAT News on Housing**Worries over Fiscal Cliff** Inside Lending Newsletter From Laurie A Moore

 

Existing Home Sales were UP 2.1% in October, staying right near their highest level in over two years. Sales are up 10.9% from a year ago. The median price is now $178,600, up 11.1% over a year ago. And the supply of existing homes dropped from 5.6 to 5.4 months. The inventory of existing homes is down to 2.14 million, the lowest level since December 2002.

Anyone who still thinks the housing market isn't in recovery had only to look at October Housing Starts, which grew 3.6% to an annual rate of 894,000 units. Multi-family starts were up 11.9% and are up 57.1% versus a year ago. Single-family starts dropped 0.2% for the month, but are up 35.3% over a year ago. Building permits dropped slightly in October, but are up 26.6% for single family and up 36.3% for multi-family units versus last year. Not surprisingly, the NAHB Homebuilders confidence index rose to its highest level in six years.

 

“Your Local Lending Resource Offering “Speed with Expertise”!

 

Laurie Moore

 

Wallick & Volk Mortgage

3615 Crossings Drive Suite A

Prescott, Az 86305

Licensed Sr. Mortgage Consultant

Certified Reverse Mortgage Specialist

NMLS# 256449

Office: 928-778-7167

Cell: 928-308-1723

Fax: 928-445-5308

www.lauriemoore.wvmbprescott.com

 

 


  ­­  

Monday, November 19, 2012

Prescott Office of Tourism: Christmas Events

City of Prescott - Office of Tourism

Christmas 2012

 

 

 

World's Largest Gingerbread Village 

This fantastical village of more than 100 delicious structures resides in the lobby of

the Prescott Resort & Conference Center, free for viewing 24/7, now through Jan. 1. The money raised from the "lot sales" of these palatable properties goes to the Yavapai Big Brothers Big Sisters.

 

17th Annual Holiday

Light Parade

Enjoy a parade of floats, festively and creatively decorated with lights, holiday

music, and Santa to kick off the holiday season. Bring your chairs and dress warmly. Prescott Courthouse Plaza, November 24 at 6:00 pm.

 

30th Annual Prescott Christmas Parade

Join us in downtown Prescott on December 1 at 1:00 pm for this ongoing tradition. This year's theme is "Christmas Joy & Peace". Parade route goes Cortez - Goodwin - Montezuma. Ring in the holiday season in Arizona's Christmas City with this parade at 1:00 pm, which is followed by the 58th Annual Courthouse Lighting Ceremony.

 

58th Annual Prescott Courthouse Christmas Lighting

Arizona's Christmas City presents The 58th Annual Courthouse Lighting Ceremony on Prescott Courthouse Plaza (after the 30th Annual Christmas Parade) in downtown Prescott. Enjoy music groups at 4:00 pm with lighting ceremony at 6:00 pm.

 

Frontier Christmas 

 

Sharlot Hall Museum's Living History interpreters revive the spirit of Christmas past at this annual celebration on December 1 from 6:00 to 9:00 pm. Enjoy the Museum's finely decorated historic buildings, live seasonal music, refreshments, a Christmas tree with vintage decorations, and engaging stories of Prescott's past. The Sharlot Hall Museum gift shop in the beautiful Victorian Bashford House will beopen until 8:30 pm with a fascinating selection of holiday gifts. Members $3, non-members $5, under 18 free.

 

Acker Musical Showcase 

On December 7 from 5:30 to 8:30 pm, enjoy more than 100 musical groups performing in and around the Prescott

downtown area. A favorite Prescott holiday event. Visit the Acker website for more information.

 

Santa with the Animals

Santa will be bringing presents to the animal residents at the Heritage Park Zoological Sanctuary on December 9 from 1:00 to 3:00 pm. For more information, please call 928-778-4242.

 

3rd Annual Cowboy Christmas 

A rousing third installment on the range with your favorite Cowboy Poets and
musical performers focused on Christmas, Cowboy style. Featuring Joe Messenger, Tony Norris and Nancy Ruybal at Prescott Center for the Arts on December 15 at 2:00 and 7:30 pm. Call 928-445-3286 for tickets, or purchase them online.

 

Last-Minute Non-Profit Stocking-Stuffer Bazaar 

 

Over 50 nonprofit organizations selling their low-cost, high-quality merchandise to

raise funds for their agencies at the Grace Sparkes Activity Center on December 15 from 10:00 am to 4:00 pm. Gifts from Santa for children accompanied by adults, from 1:00 to 2:00 pm. For more

information, visit their website.

In 1989, then-Governor Rose Mofford extended the official proclamation that Prescott is "Arizona's Christmas City." Since then, residents have continued to work hard to make that a reality, and visitors discover to their delight that Prescott is suffused with Christmas spirit, year after year.

 

Enjoy the cozy, hometown feeling that Prescott offers. Join holiday revelers in the historic bars and restaurants. Plan a romantic getaway and stay in one of our charming hotels or B&Bs. Visit the many shops, galleries and boutiques downtown and at the Prescott Gateway Mall.

Come on up to historic Prescott, Arizona's Official Christmas City and the state's first territorial capital, and bask in some of that seasonal glow. Prescott has a great selection of shops to help you with your gift list, and a wide variety of events for the holiday.

Following are just some of the great Christmas events taking place in
Prescott over the next few weeks.

 

A Tuna Christmas

Prescott Center for the Arts

November 23-25

 

Prescott Center for the Arts

This popular comedy features Sean Jeralds and Cason Murphy as a variety of zany characters preparing for the holidays in a small fictitious town. Two evening and two matinee performances are available and tickets are $12 per person.

Call 928-445-3286 or visit the Prescott Center for the Arts website for information and tickets.

 

Wildlights and Animal Sights

Heritage Park Zoological Sanctuary

November 23 - December 29

 

The Heritage Park Zoological Sanctuary will be lighted with festive holiday

decorations and spectacular light displays on Fridays and Saturdays from 6:00 to 9:00 pm. Special event admission fee is $3.00 for members and $5.00 for non-members. Concessions will be available during the event times, as well as the Sanctuary's unique gift shop. For more information, please call 928-778-4242.

 

Effective dates:
November 23 & 24
November 31 & December 1
December 7 & 8
December 14 & 15
December 21 & 22
December 28 & 29

 

PCA Presents "Miracle on 34th Street"

Elks Opera House

November 30 - December 9

 

Join us for PCA's second year of their new tradition, presenting a delightful Christmas production in the historic and beautifully renovated Elks Opera House.

Based on the 20th Century film, bring the entire family to see Kris Kringle, an older man from a retirement home, take a job as Santa at Macy's. Kris is fired for sending customers to other stores for products Macy's doesn't sell. This sets the stage for a courtroom battle to prove or disprove the identity of the real Santa Claus and a way for all of us to experience the joy of Christmas.

 

Call 928-445-3286 for tickets, or purchase them online.

 

7:30 pm - Nov. 30, Dec. 1, 5, 6 & 8
2:00 pm - Dec. 2, 8 & 9

 

Elves Weekend

Prescott Courthouse Plaza

December 14-16

 

Come on down and join the fun and activities. There will be carolers, special 

promotions and refreshments in the shops, elves prancing with random acts of kindness, a drawing for a $500 shopping spree at Bashford Courts, a children's coloring contest, and shops open late for your last-minute purchases.

 

Take your filled-out shopping spree entry form or coloring entry to the Bashford Courts lobby and deposit it in the slot in the display case December 14, 15 and 16.

 

Only one entry per person. Entries before December 14 and after December 16 and multiple entries will be disqualified. Winner will be announced December 19, 2012. You can support the Holiday Lighting Program by stapling a donation to your entry coupon. Visit their website for registration and information.

 

November 14 - 3:00 to 6:00 pm
November 15 - 12:00 to 5:00 pm
November 16 - 12:00 to 4:00 pm

 

New Year's Eve 2nd Annual Boot Drop

Whiskey Row

December 31

 

Ring in 2013 with the New Year's Eve Boot Drop, held on Prescott's historic Whiskey Row (100 block of South Montezuma Street). There will be vendor booths and fun for the whole family!

Festivities begin at 8:00 pm. There will be two Boot Drops, one at 10:00 pm for the early birds and the second at midnight, with a fireworks display. Visit the Boot Drop website for more information.

 

Dancing through the Decades

Elks Opera House

December 31

 

Elks logo

Listen and dance to the Big Band sound of the Prescott POPS Dance Band, a sixteen-piece band featuring members of the Prescott POPS Symphony, in the ambiance of the restored Elks Opera House.

The band, directed by Max Borjon, will perform everybody's favorite songs from five decades, 1930s through 1970s, and conclude the evening with the traditional "Auld Lang Syne" at midnight.


During "warm up" and band breaks, enjoy the Tumbledown House duo: sultry vocalist Gillian Howe and eclectic indie-jazz guitarist Tyler Miller.

 

Start the evening with an elegant buffet in the Marina Room at the Hassayampa Inn and then stroll cross Gurley Street to enjoy a memorable evening at Prescott's treasure, the Elks Opera House.


For additional information about Dancing through Decades and the buffet at the Hassayampa Inn, visit www.nye-eoh.org. Tickets are available by clicking here, by calling 928-777-1370, or visiting the Box Office. Box Office hours are Tuesday-Friday, 10:00 am to 2:00 pm.

 

Prescott Jazz Summit New Year's Eve Gala Dinner Dance
The Club at Prescott Lakes
December 31

 

The First Annual New Year's Eve Gala Dinner Dance includes a five-course gourmet dinner and dancing until just past midnight with the Mike Vax Orchestra and special guest vocalist Sherry Roberson.

Price is $175.00 per couple and $87.50 for an individual, including tax and tip. Tickets can be purchased online by clicking here.

This event is a fundraiser for the Jazz Summit Educational Outreach Program.

 

 

 

 

Saturday, November 17, 2012

HFG Mortgage Market News for the week ending November 16,2012

 



Sandi Collette
NMLS# 269506
Senior Mortgage Consultant
Homeowners Financial Group
928-710-6329
sandi@homeownersfg.com

 


Please forward to anyone you know who could use mortgage expertise, and of course, your referrals will be given my prompt attention.


Little Change in Mortgage Rates

 

There was little market moving news for mortgage rates this week. Little apparent progress was seen regarding the US fiscal cliff or the debt troubles in Europe. Since it's extrememly difficult to estimate the impact of Hurricane Sandy, investors did not give much weight to the US economic data released this week. As a result, mortgage rates ended the week with just a small change.

 

Investors are operating with a high degree of uncertainty these days. Many hoped that after the election political leaders would provide clear signs that a compromise could be reached to resolve the upcoming fiscal cliff. If no action is taken, a series of spending cuts and tax increases will occur at the end of the year, which likely would result in a sharp slowdown in US economic growth. In general, investors have reacted to the uncertainty by shifting from riskier assests such as stocks to safer assests, including mortgage-backed securities (MBS). If a deal is reached, this fight to safety may reverse, at least to some degree.

 

The situation in Europe is also a source of frustration for investors. It's clear from the economic data that growth in the region is slowing, even in the stronger countries such as Germany. The big question is what actions will be taken to address the debt troubles. European officials remain divided about releasing additional aid to Greece. Spanish leaders have not decided whether they will ask for assistance from the European Union (EU) bailout programs. In short, while economic conditions continue to get worse, there has been little progress in the conflict between the troubled countries which need help and the stronger countries which will have to pay the bill.

 

 

Also Notable: 

  • Core CPI inflation was 2.0% higher than one year ago
  • The Minutes showed that Fed officials remain divided on policy
  • The Dow declined to the lowest level in five months
  • Third quarter GDP in the Eurozone declined 0.1%

 

Weekly Average Rates

 

Regional Breakdown         30-Yr FRM         15-Yr FRM           5/1-Yr ARM          1-Yr ARM

Average Rates                      3.34%              2.65%                   2.74%                2.55%

Fees & Points                        0.7                   0.7                       0.6                     0.3

Margin                                  N/A                  N/A                      2.74                    2.76

APR                                    3.396                2.75                     3.406                   3.58

 

 

Average 30 yr fixed rate:

 

Last week:        -0.10%

This week:       +0.01%

 

 

Stocks (weekly):

 

Dow:               12,500     -300

NASDAQ          2,825       -75

 

 

Week Ahead

 

Thanksgiving week will be a light one for economic data. Existing Home Sales will be released on Monday. Housing Starts will come out on Tuesday. Consumer Sentiment, Leading Indicators, and Jobless Claims are scheduled for Wednesday. Mortgage markets will be closed on Thursday and will close early on Friday in observance of Thanksgiving.

 

Source: MBS Quoteline. Intended for Real Estate Professionals Only. Programs and rates subject to change without notice.

Homeowners Financial Group
140 N. Montezuma Street, Suite 100       Prescott, AZ 86301
              (480) 305-8570

 

Homeowners Financial Group, 140 N. Montezuma Street, Suite 100, Prescott, AZ 86301


We lend in the following states: AZ, NM, ID, CA, WA, CO BK#0906222 Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Rates and Programs subject to change without notice. Subject to qualify.

Monday, November 12, 2012

Inside Lending 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 November 12, 2012 – Vol. 10, Issue 46

 

>> Market Update 

QUOTE OF THE WEEK... "Success is often just an idea away." --Frank Tyger, American cartoonist, columnist, and humorist

INFO THAT HITS US WHERE WE LIVE
... One idea that could lead to some success is to let people know that home prices and home sales both posted strong annual growth in the third quarter, according to the National Association of Realtors (NAR). The national median existing single-family home price was UP 7.6% versus a year ago, the best year-over-year quarterly price boost since Q1 of 2006 when prices were up 9.4%. And existing home sales were UP 10.3% over Q3 last year, to a 4.68 million annual rate.

The NAR's chief economist said rising prices and tight inventory indicate the housing recovery is settling in. He added, "We expect fairly normal appreciation patterns in 2013, but there is a risk of price acceleration if builders are unable to meet the needs of our growing population and household formation." The Mortgage Bankers Association forecasts purchase loan originations will be UP 16% next year. They expect this will come from growth in new home sales, modest home price gains, and more financed, owner-occupied sales.

BUSINESS TIP OF THE WEEK... John D. Rockefeller said, "A friendship founded on business is better than a business founded on friendship." Keep this in mind when seeking to develop rapport with prospects and partners.

>> Review of Last Week

POST-ELECTION PLUNGE... Following the re-election of Barack Obama as President, the Dow and S&P 500 suffered their worst weekly losses since June. It was the Dow's third straight losing week, while the tech-heavy Nasdaq ended down for the fifth week in a row. With the "no change" election (Democrats still control the Senate, Republicans the House), investors remain uncertain about Washington's ability to deal with the "fiscal cliff": the $607 billion in automatic tax hikes and government spending cuts which start in January unless lawmakers come to a deficit-cutting deal .

Before the election, the ISM Non-Manufacturing Index came in with a decline for October, but remained in expansion territory above 50. Thursday, the trade deficit for September was much smaller than expected, at $41.5 billion, with export growth nicely outpacing the gain for imports. The big positive surprise came Friday when the University of Michigan Consumer Sentiment Index rose to its highest level in more than five years and stocks avoided posting a third losing day.

For the week, the Dow ended down 2.1%, to 12815; the S&P 500 was down 2.4%, to 1380; and the Nasdaq was down 2.6%, to 2905. 


Bonds were helped by the two-day stock swoon, but as equities recovered a bit on Friday, the buying interest in bonds subsided. The FNMA 3.5% bond we watch ended the week up a modest .05 to $106.22. National average mortgage rates continued to hover near their record lows of the past six weeks in Freddie Mac's Primary Mortgage Market Survey. The Mortgage Bankers Association purchase loan demand index was up 1% for the week, to its highest level since June. 

DID YOU KNOW?
... Monetary policy is the regulation of the money supply and interest rates by the Fed to control inflation and stabilize currency. By impacting the cost of money, the central bank can affect the amount of money spent by consumers and businesses.

>> This Week’s Forecast

RETAIL, INFLATON, MANUFACTURING... No economic reports on Veteran's Day Monday, but then four days of key readings. October Retail Sales should show the consumer a lot quieter on the spending front. Inflation is expected to remain tame, with both wholesale PPI producer prices and CPI consumer prices well under control for October.

Manufacturing in the New York and Philadelphia areas is forecast to continue to show contraction as measured by the Empire Manufacturing Index and the Philadelphia Fed Index. We'll also watch FOMC Minutes from the Fed's October 24 meeting for any useful prognostications.

>> 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 Nov 12 – Nov 16

 Date

Time (ET)

Release

For

Consensus

Prior

Impact

Tu
Nov 13

08:30

Federal Deficit

Oct

–$113.0B

-$98.5B

Moderate

W
Nov 14

08:30

Retail Sales

Oct

–0.2%

1.1%

HIGH

W
Nov 14

08:30

Retail Sales ex-auto

Oct

0.1%

1.1%

HIGH

W
Nov 14

08:30

Producer Price Index (PPI)

Oct

0.0%

1.1%

Moderate

W
Nov 14

08:30

Core PPI

Oct

0.1%

0.0%

Moderate

W
Nov 14

10:00

Business Inventories

Sep

0.6%

0.6%

Moderate

W
Nov 14

14:00

FOMC Minutes

10/24

NA

NA

HIGH

Th
Nov 15

08:30

Initial Unemployment Claims

11/10

388K

355K

Moderate

Th
Nov 15

08:30

Continuing Unemployment Claims

11/03

3.125M

3.127M

Moderate

Th
Nov 15

08:30

Consumer Price Index (CPI)

Oct

0.1%%

0.6%

HIGH

Th
Nov 15

08:30

Core CPI

Oct

0.1%

0.1%

HIGH

Th
Nov 15

08:30

NY Empire Manufacturing Index

Nov

–9.3

–6.2

Moderate

Th
Nov 15

10:00

Philadelphia Fed Manufacturing Index

Nov

–1.0

5.7

HIGH

Th
Nov 15

11:00

Crude Inventories

11/10

NA

1.766M

Moderate

F
Nov 16

09:15

Industrial Production

Oct

0.0%

0.4%

Moderate

F
Nov 16

09:15

Capacity Utilization

Oct

78.2%

78.3%

Moderate

 

>> Federal Reserve Watch   

Forecasting Federal Reserve policy changes in coming months... Virtually all economists expect the Fed to keep the Funds Rate where it is, well into 2015. 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

Dec 12

0%–0.25%

Jan 30

0%–0.25%

Mar 20

0%–0.25%


Probability of change from current policy:

After FOMC meeting on:

Consensus

Dec 12

     <1%

Jan 30

     <1%

Mar 20

     <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



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