This post will be updated throughout the month of June, 2010.  Check back frequently for more real estate related information.

General Information:

FHA delinquencies decline for the third month in a row. 

The mortgages insured by the Federal Housing Administration has declined again to 8.5 percent down from 9.4 percent in April.  The rate is still high, but definitely a positive trend.

On that note…Is FHA the loan of choice?

About 87% of potential home buyers plan on using FHA insured loans on their future purchase, according to a survey conducted by the Home Buying Institute.  Two thirds of those surveyed were first time home buyers.  54 percent of those surveyed said they preferred FHA because of the low down payment.

15 year mortgage at a record low

15 year fixed loans were at a record low of 4.2 percent, down from 4.21 percent (source: Wall Street Journal 6/4/10)

BofA to Settle Countrywide Charges

BofA agreed to pay $108 million to settle charges that Countrywide Financial Corp. charged large and unfair fees to borrowers facing foreclosure.  The settlement should refund money to about 200,000 borrowers.

Builders Report Improving Sales

JMP Securities reports that sales activity in California, Texas and Arizona are approaching pre-April numbers in several markets.  Sales are at their strongest pace since before Spring of 2009.

30 and 15 Year Rates Lowering

30-year fixed-rate mortgage averaged 4.72 percent, down from 4.79 percent a week ago – rates on 15-year fixed-rate mortgages fell to a record low of 4.17 percent from 4.2 percent.   (06/11/10)

Mortgage Applications Rise

The number of mortgage applications to purchase homes rose last week -  the Mortgage Bankers Association purchase index increased 7.3 percent (6/16/10)

Mortgage rates were up last week:

• 30-year fixed-rate mortgages increased to 4.82 percent from 4.81 percent.
• 15-year fixed-rate mortgages decreased to 4.23 percent from 4.26 percent.
• 1-year ARMs increased to 7.07 percent from 6.94 percent.

Much of San Tan Valley was formerly known as Queen Creek, AZ.   The part of Queen Creek that became San Tan Valley is located in Pinal County.  Queen Creek, Arizona is located in Maricopa County.  One thing is for certain, we can now talk about either Queen Creek or San Tan Valley and know what Counties they’re located in.

San Tan Valley is the largest community in Pinal County.  The population of San Tan Valley is just under 80,000.

See the map below for the boundaries of San Tan Valley.

View San Tan Valley, AZ in a larger map

Any taxpayer who was a member of the Armed Forces can earn the home buyer tax credit if they enter into a contract to purchase a home before April 30th, 2011.  They must close by June 30th, 2011.

The tax credit applies to any individual who served on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

First time home buyers that meet specific qualifications can earn up to $8,000 in tax credits.  Previous home owners would be eligible to tax credits up to $6,500 if they are replacing a principal  residence they have owned for any 5 consecutive year period during the past eight years.

For more information about the $8,000 First Time Home Buyer Tax Credit, contact info@ezlistaz.com. You can also call 480-273-8914.

The most recent news from Johnson Ranch HOA!  Please email info@ezlistaz.com for contact info or more information on any of the upcoming event/activities.

Johnson Ranch Update

Asphalt Work

If you live in Stonegate (gated) or Lakeview Gardens subdivisions, please remember asphalt work will begin on Wednesday morning, May 26^th at 7am. Please refer to the information that was sent to you. Thank you for your cooperation.  

Johnson Ranch Pre/Teen Beach Pool Party

Friday, June 11

6:30-8:30pm

Lakeview Pool

Ages 11-18 are welcome! Grab you friends! Have fun swimming, listening to a live DJ, dancing, pizza and more.   Please register to attend!  You can get contact information for registration (or to VOLUNTEER to chaperone) by emailing info@ezlistaz.com.

Babysitters Meet and Greet

Tuesday, June 15

6:00-7:00pm

Indigo Sky Pool

Are you looking for a babysitter for the summer? This is a great chance for you to meet and interview babysitter’s one on one.

Are you a babysitter and would like to set up a table and handout information? Please email info@ezlistaz.com for contact info to register. Please have 50 handouts available for participants.

Desserts with Dad

Friday, June 18

6:30-8:00pm

Lakeview Recreation Area

Happy Father’s Day! Bring Dad over to the park to have a special dessert and make a card!  Please RSVP so we can order the correct amount of supplies. Please email info@ezlistaz.com for contact info to register.   If you sign up and are unable to make it, please let us know. Thank you

Water Aerobics

Every Monday morning

9am

Lakeview Pool

We would like to thank instructor Neola for all her efforts in making this a great program. Please email info@ezlistaz.com for contact info to register.

That is a real common question I’m asked right now and the answer is…maybe…  Every market is different, especially as you look specifically within a geographic location or even in your own subdivision.  As we start to “turn the corner” an easy way to get a basic idea is to know where homes in your area are currently listed and where they actually end up selling.  As you continue to watch the market, over time you’ll learn what the average list price (what sellers are asking) of the homes in your area or subdivision are and what the average sales prices are in relation to the list prices.  Just by knowing that, you’ll be able to see whether values are falling, holding steady, or making their way back up.  It really is a simple concept and it’s very easy to get started on your own “neighborhood watch.”

If you live in Phoenix, Arizona or any of the surrounding metropolitan areas, including the East Valley, Chandler, Gilbert, Mesa, Queen Creek, San Tan Valley, I have a service that will help you keep track of what is going on in your market area.  There’s no obligation to you and it’s available to you 24/7.  It’s as close as you can get to a live feed straight from the Multiple Listing Service, so you’ll get the most up to date information on all available homes for sale.  There’s no lag time like a lot of other real estate websites – some of which can take days or weeks to update their information.

If you’d like to keep track of what’s going on in your area or subdivision or if you’re thinking about buying and would like to receive property listings, just click on the button below and get started!

If you’d like a personal invite to my listing service, please feel free to email me at Nathan@ezlistaz.com or call 480-273-8914.  I’ll get you set up right away!

COMPLETE JR HOA ANNOUNCEMENT BELOW:

ATTENTION 

Ace Asphalt will begin seal coating on Monday, May 24^th.  The three Recreation Centers (Lakeview, Stardust and Indigo Sky) and the JRCA office parking lots will be closed on Monday, May 24^th and will reopen by 9 am on Tuesday, May 25^th.

Stonegate and Lakeview Gardens Residents:

 Beginning Wednesday morning, May 26^th at about 7 am, crews from Ace Asphalt of Arizona will arrive to seal coat your road ways. The seal coat will be finished on Friday, May 28^th.  It is necessary that all vehicles be removed from the designated areas on specified days.  Please make arrangements in advance to park in an area not affected by the project.  If it is necessary for us to have your vehicle towed, the cost will be charged to you. 

*****WARNING*****

Do not drive on the fresh seal coat until the times indicated on the map.  The sealer will splatter onto your vehicle or track onto your driveway.  It is very difficult to remove.  Once the seal coat product has dried, it is permanent.  Ace Asphalt will not repair damage to vehicles or concrete driveways. 

Sealing is a cost effective maintenance procedure that helps to prolong the life of the pavement.

We appreciate your cooperation and patience during this important maintenance program.

END ANNOUNCEMENT

***Please note, the preceding announcement was issued by the Johnson Ranch Homeowner’s Association.  Nathan Mitchell Realty is not affiliated with the Johnson Ranch HOA.  This message has been rebroadcast in order to help inform residents of current HOA activity.  Please feel free to contact Nathan at info@ezlistaz.com for more information regarding the Johnson Ranch community.

Visit the Johnson Ranch website:  Johnson Ranch San Tan Valley, AZ

A recent email my wife received:

Stormy Weather

With all the news lately about the subzero weather and snow that the
Midwest and east coast areas are experiencing, we shouldn’t forget that
Phoenix also has its share of devastating weather in the last couple
weeks.   

Attached is a photo showing damage to a home from a recent storm that
passed through the Phoenix area. It really makes you cherish what you
have, and  reminds us not to take life for granted.

Click here to enlarge chart

Single family home sales in Queen Creek, Arizona are continuing to hold at a steady pace.  The number of single family home sales for the month of February 2009 was 309.  The average sales price for Queen Creek was $132,050, just about matching January’s numbers.  The median sales price was $112,000.  The average days on market was 84.  There are currently 1,448 homes for sale in Queen Creek.  At the current pace of buying, there are approximately 4.7 months worth of inventory on the market. 

Click here to enlarge chart 

Click here to enlarge chart

The number of single family homes sold in Queen Creek Arizona for the month of January, 2009 was 284.  The average sales price in Queen Creek was $132,161.  The median sales price was $112,000. The average days on market was 88.  Currently, there are 1,645 homes for sale in Queen Creek, AZ.  At this pace of buying there are 5.8 months of inventory available.

Click here to enlarge chart

To find out more information on market trends in your area, contact Nathan at 480-529-6329, or email me at Nathan@ezlistaz.com. 

Click here to enllarge chart

 East Valley, Arizona (Chandler, Gilbert, Mesa and Tempe) single family home sales for the month of January, 2009 came in at 752 units.  The average sales price was $219,892, with an average market time of 116 days.  The median sales price was $184,520.  The number of single family homes currently listed in the East Valley is 7,388.  There are about 9.8 months worth of inventory at the current buying pace.

Click here to enlarge

At current home prices and interest rates, now is a great opportunity to buy!  If you are considering buying or selling a home please contact me at 480-529-6329 or email me at Nathan@ezlistaz.com.