Something funny today.....From the people who brought you The Sequester..... http://www.azcentral.com/arizonarepublic/opinions/benson/
Wednesday, February 27, 2013
Benson Cartoons - Political Cartoons - The Arizona Republic
Something funny today.....From the people who brought you The Sequester..... http://www.azcentral.com/arizonarepublic/opinions/benson/
Pending Home Sales Highest Since 2010 Tax Credit
Pending home sales rose on both a monthly and an annual basis in January. The National Association of Realtors® (NAR) which compiled the data said January was the 21st consecutive month when its Pending Home Sales Index was higher than one year earlier. Read more... http://www.mortgagenewsdaily.com/02272013_pending_homes_sales.asp
Pending Home Sales Highest Since 2010 Tax Credit
Pending home sales rose on both a monthly and an annual basis in January. The National Association of Realtors® (NAR) which compiled the data said January was the 21st consecutive month when its Pending Home Sales Index was higher than one year earlier. Read more... http://www.mortgagenewsdaily.com/02272013_pending_homes_sales.asp
Tuesday, February 26, 2013
New Home Sales Rise Sharply in January, Inventory Slides
The U.S. Census Bureau this morning released data on new single-family home sales for January. Sales rose 15.6% month-over-month, to a seasonally adjusted annual rate of 437,000, from a revised December sales figure of 378,000. Economists had been expecting a seasonally adjusted annual rate of 381,000. The January rate is 28.9% above the rate for January 2012. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million. Read more... http://247wallst.com/2013/02/26/new-home-sales-rise-sharply-in-january-inventory-slides/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall+St.%29
New Home Sales Rise Sharply in January, Inventory Slides
The U.S. Census Bureau this morning released data on new single-family home sales for January. Sales rose 15.6% month-over-month, to a seasonally adjusted annual rate of 437,000, from a revised December sales figure of 378,000. Economists had been expecting a seasonally adjusted annual rate of 381,000. The January rate is 28.9% above the rate for January 2012. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million. Read more... http://247wallst.com/2013/02/26/new-home-sales-rise-sharply-in-january-inventory-slides/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall+St.%29
Case-Shiller Indices Show Fastest Gain in 6 Years
Home prices rose at their fastest pace since July 2006, according to Standard and Poor's Case-Shiller 10- and 20-city Home Price Indices . At the same time, the Case-Shiller national index, reported quarterly, registered its strongest gain since Q2 2006. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fcase-shiller-indexes-show-fastest-gain-in-6-plus-years-2013-02-26
Case-Shiller Indices Show Fastest Gain in 6 Years
Home prices rose at their fastest pace since July 2006, according to Standard and Poor's Case-Shiller 10- and 20-city Home Price Indices . At the same time, the Case-Shiller national index, reported quarterly, registered its strongest gain since Q2 2006. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fcase-shiller-indexes-show-fastest-gain-in-6-plus-years-2013-02-26
Big banks are as risky as ever, economist warns
In an important new book due out next month, "The Bankers' New Clothes," the Stanford University economist warns that the U.S. banking system is as precarious today as it was before the 2008 housing crash. And given the vulnerability of the country's biggest banks, it won't take the kind of gale-force financial winds that blew down the global economy roughly four years ago to trigger another collapse. Read more... http://m.cbsnews.com/storysynopsis.rbml?pageType=moneywatch&catid=57570311&feed_id=76&videofeed=43
Big banks are as risky as ever, economist warns
In an important new book due out next month, "The Bankers' New Clothes," the Stanford University economist warns that the U.S. banking system is as precarious today as it was before the 2008 housing crash. And given the vulnerability of the country's biggest banks, it won't take the kind of gale-force financial winds that blew down the global economy roughly four years ago to trigger another collapse. Read more... http://m.cbsnews.com/storysynopsis.rbml?pageType=moneywatch&catid=57570311&feed_id=76&videofeed=43
Monday, February 25, 2013
HUD - Does HUD Owe You a Refund?
If you had an FHA-insured mortgage, you may be eligible for a refund from HUD/FHA. Read more... http://www.hud.gov/offices/hsg/comp/refunds/index.cfm
HUD - Does HUD Owe You a Refund?
If you had an FHA-insured mortgage, you may be eligible for a refund from HUD/FHA. Read more... http://www.hud.gov/offices/hsg/comp/refunds/index.cfm
Banks Have One Reason To Cheer The Sequester: Big Cuts To Financial Regulation - The Huffington Post
You have to hand it to the banks: No matter how bizarre or dire the crisis hitting the broader economy, they will find a way to take advantage. Read more... http://www.huffingtonpost.com/mobileweb/2013/02/25/sequester-financial-regulation_n_2759085.html?ir=business&utm_campaign=022513&utm_medium=email&utm_source=Alert-business&utm_content=FullStory
Banks Have One Reason To Cheer The Sequester: Big Cuts To Financial Regulation - The Huffington Post
You have to hand it to the banks: No matter how bizarre or dire the crisis hitting the broader economy, they will find a way to take advantage. Read more... http://www.huffingtonpost.com/mobileweb/2013/02/25/sequester-financial-regulation_n_2759085.html?ir=business&utm_campaign=022513&utm_medium=email&utm_source=Alert-business&utm_content=FullStory
Sunday, February 24, 2013
How To Cancel Your FHA Mortgage Insurance Premiums (MIP)
As compared to conforming loans and jumbo mortgages, Federal Housing Administration (FHA)-backed loans are popular for several reasons. 1. FHA allows a 3.5% downpayment 2. FHA allows refinances without appraisal 3. FHA mortgage rates are usually really low Relative, though, one place where FHA mortgages can fall short is with respect to mortgage insurance. Read more: How To Cancel Your FHA Mortgage Insurance Premiums (MIP)
How To Cancel Your FHA Mortgage Insurance Premiums (MIP)
As compared to conforming loans and jumbo mortgages, Federal Housing Administration (FHA)-backed loans are popular for several reasons. 1. FHA allows a 3.5% downpayment 2. FHA allows refinances without appraisal 3. FHA mortgage rates are usually really low Relative, though, one place where FHA mortgages can fall short is with respect to mortgage insurance. Read more: How To Cancel Your FHA Mortgage Insurance Premiums (MIP)
FHA : New 2013 Mortgage Insurance Premiums + MIP Cancellation Policy
The future of FHA lending may look very different from today with stricter guidelines, tougher loan terms, and an increase to FHA mortgage insurance premiums. The FHA has put its plan to paper. For this year's home buyers and would-be refinancing households, the best time to get an FHA-backed mortgage may be now -- before the FHA makes its changes "official". Read more: FHA : New 2013 Mortgage Insurance Premiums + MIP Cancellation Policy
FHA : New 2013 Mortgage Insurance Premiums + MIP Cancellation Policy
The future of FHA lending may look very different from today with stricter guidelines, tougher loan terms, and an increase to FHA mortgage insurance premiums. The FHA has put its plan to paper. For this year's home buyers and would-be refinancing households, the best time to get an FHA-backed mortgage may be now -- before the FHA makes its changes "official". Read more: FHA : New 2013 Mortgage Insurance Premiums + MIP Cancellation Policy
HARP 3.0 : Four Important Changes The #MyRefi Program May Include
The Home Affordable Refinance Program (HARP) was first launched in 2009 as an economic stimulus program; a way to boost consumer spending. At the time, mortgage rates were falling to new lows, but at the same time, home values were in retreat. Falling home values pushed a plethora of U.S. homeowners over the 80% loan-to-value threshold which meant that refinancing was impossible without either (1) reducing the loan balance back to 80 percent of the home's appraised value, or (2) paying private mortgage insurance (PMI). Read more: HARP 3.0 : Four Important Changes The #MyRefi Program May Include
HARP 3.0 : Four Important Changes The #MyRefi Program May Include
The Home Affordable Refinance Program (HARP) was first launched in 2009 as an economic stimulus program; a way to boost consumer spending. At the time, mortgage rates were falling to new lows, but at the same time, home values were in retreat. Falling home values pushed a plethora of U.S. homeowners over the 80% loan-to-value threshold which meant that refinancing was impossible without either (1) reducing the loan balance back to 80 percent of the home's appraised value, or (2) paying private mortgage insurance (PMI). Read more: HARP 3.0 : Four Important Changes The #MyRefi Program May Include
Redwood Trust booms on jumbo loan market - SFGate
Redwood Trust is having a spectacular run. The Mill Valley firm's shares have returned 84 percent in the past year and there have been zero defaults among the $4 billion of jumbo loans it packaged and sold as bonds since 2010. Business for the real estate investment trust is poised to pick up in 2013 as the U.S. housing rebound lifts California and East Coast cities where Redwood finds its mortgages. Read more: Redwood Trust booms on jumbo loan market - SFGate
Redwood Trust booms on jumbo loan market - SFGate
Redwood Trust is having a spectacular run. The Mill Valley firm's shares have returned 84 percent in the past year and there have been zero defaults among the $4 billion of jumbo loans it packaged and sold as bonds since 2010. Business for the real estate investment trust is poised to pick up in 2013 as the U.S. housing rebound lifts California and East Coast cities where Redwood finds its mortgages. Read more: Redwood Trust booms on jumbo loan market - SFGate
Surrey Hills condo project resurrected in less-pricey form
A Cave Creek condominium project that stalled five years ago is gaining sales traction after it was revived with smaller, less-expensive units. The Village at Surrey Hills is selling 1,573-square-foot condos, priced from $260,000 to $355,000. It includes 79 condos on 11 acres with views of Black Mountain to the east. Sixteen condos have been sold and 11 are under contract, said Sandy Esmay,Coldwell Banker associate broker. Read more: Surrey Hills condo project resurrected in less-pricey form
Surrey Hills condo project resurrected in less-pricey form
A Cave Creek condominium project that stalled five years ago is gaining sales traction after it was revived with smaller, less-expensive units. The Village at Surrey Hills is selling 1,573-square-foot condos, priced from $260,000 to $355,000. It includes 79 condos on 11 acres with views of Black Mountain to the east. Sixteen condos have been sold and 11 are under contract, said Sandy Esmay,Coldwell Banker associate broker. Read more: Surrey Hills condo project resurrected in less-pricey form
New apartments’ design called ‘fresh and exciting’
Downtown Scottsdale is getting its first new apartments in more than a decade. Optima Sonoran Village will move in its first residents next month in a seven-story, 210-unit building of landscaped terraces, tinted green glass and an exterior color palette of yellow, orange and green. Optima’s contemporary design is intended to bring something fresh and exciting to Scottsdale, said David Hovey Jr., Optima vice president. Read more: New apartments’ design called ‘fresh and exciting’
New apartments’ design called ‘fresh and exciting’
Downtown Scottsdale is getting its first new apartments in more than a decade. Optima Sonoran Village will move in its first residents next month in a seven-story, 210-unit building of landscaped terraces, tinted green glass and an exterior color palette of yellow, orange and green. Optima’s contemporary design is intended to bring something fresh and exciting to Scottsdale, said David Hovey Jr., Optima vice president. Read more: New apartments’ design called ‘fresh and exciting’
More than 22K Arizonans receive mortgage aid in settlement
More than 22,000 Arizona consumers received some sort of aid during the first year of the nation’s biggest settlement with mortgage firms. The U.S.’s five biggest lenders have provided $1.68 billion in relief to mortgage borrowers across the state, according to a progress report released Thursday by independent settlement monitor Joseph Smith of the Office of Mortgage Settlement Oversight. Read more: More than 22K Arizonans receive mortgage aid in settlement
More than 22K Arizonans receive mortgage aid in settlement
More than 22,000 Arizona consumers received some sort of aid during the first year of the nation’s biggest settlement with mortgage firms. The U.S.’s five biggest lenders have provided $1.68 billion in relief to mortgage borrowers across the state, according to a progress report released Thursday by independent settlement monitor Joseph Smith of the Office of Mortgage Settlement Oversight. Read more: More than 22K Arizonans receive mortgage aid in settlement
Phoenix-area home values climb after 2011 dip
Most metro Phoenix homeowners will see the first increase in their property’s assessed value since 2007 when they receive their annual statement from the Maricopa County Assessor’s Office. The median value of a house in metro Phoenix climbed almost 16 percent during 2012 after falling 7.6 percent in 2011. Read more: Phoenix-area home values climb after 2011 dip
Phoenix-area home values climb after 2011 dip
Most metro Phoenix homeowners will see the first increase in their property’s assessed value since 2007 when they receive their annual statement from the Maricopa County Assessor’s Office. The median value of a house in metro Phoenix climbed almost 16 percent during 2012 after falling 7.6 percent in 2011. Read more: Phoenix-area home values climb after 2011 dip
Homebuilder Taylor Morrison doubles IPO size | Reuters
Shares of Tri Pointe Homes LLC, which last month became the first U.S. homebuilder to go public in over a decade, and those of plywood and lumber maker Boise Cascade Co surged in their market debut over the last three weeks.
Read more: Homebuilder Taylor Morrison doubles IPO size | Reuters
Homebuilder Taylor Morrison doubles IPO size | Reuters
Shares of Tri Pointe Homes LLC, which last month became the first U.S. homebuilder to go public in over a decade, and those of plywood and lumber maker Boise Cascade Co surged in their market debut over the last three weeks.
Read more: Homebuilder Taylor Morrison doubles IPO size | Reuters
Phoenix looks at saving Wright’s buildings
Phoenix is getting closer to approving a more detailed approach to the preservation of Frank Lloyd Wright-designed structures. The plan would identify buildings in the city designed by the famous architect. Historic Preservation Officer Michelle Dodds said the cost is estimated to be $1.2 million. Read more: Phoenix looks at saving Wright’s buildings
Phoenix looks at saving Wright’s buildings
Phoenix is getting closer to approving a more detailed approach to the preservation of Frank Lloyd Wright-designed structures. The plan would identify buildings in the city designed by the famous architect. Historic Preservation Officer Michelle Dodds said the cost is estimated to be $1.2 million. Read more: Phoenix looks at saving Wright’s buildings
Saturday, February 23, 2013
Zillow: 1.9M Homeowners Released from Negative Equity in 2012
Over the course of last year, nearly 2 million homeowners were released from negative equity, Zillow reported Thursday. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fzillow-19m-homeowners-released-from-negative-equity-in-2012-2013-02-21
Zillow: 1.9M Homeowners Released from Negative Equity in 2012
Over the course of last year, nearly 2 million homeowners were released from negative equity, Zillow reported Thursday. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fzillow-19m-homeowners-released-from-negative-equity-in-2012-2013-02-21
Existing-Home Sales Inch Up; Inventory at Lowest Level Since 1999
Existing-home sales rose 0.4 percent in January to 4.92 million after December sales were revised downward, the National Association of Realtors ( NAR ) reported Thursday. Economists had expected the sales pace to drop to 4.9 million from December's originally reported 4.94 million. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fexistign-home-sales-inch-up-prices-at-10-month-low-2013-02-21
Existing-Home Sales Inch Up; Inventory at Lowest Level Since 1999
Existing-home sales rose 0.4 percent in January to 4.92 million after December sales were revised downward, the National Association of Realtors ( NAR ) reported Thursday. Economists had expected the sales pace to drop to 4.9 million from December's originally reported 4.94 million. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fexistign-home-sales-inch-up-prices-at-10-month-low-2013-02-21
Thursday, February 21, 2013
Builder Frenzy : Housing Starts At Highest Point In 4+ Years
You can't always believe what you read in the papers.
Earlier this week, it was reported that Housing Starts dropped in January, with some experts positing that the housing market was getting its come-uppance; that last year's gains were too fast, too soon. What got missed in those headlines, though, was relevance.
Yes, Housing Starts dropped in January 2013. However, once we isolate the Housing Starts data for single-family homes -- the dominant home type for buyers like you and me -- the report looks much different. Read more... http://themortgagereports.com/7028/housing-starts-building-permits-truths?utm_source=The+Mortgage+Reports+Blog&utm_medium=email&utm_campaign=77dcc3172c-RSS_EMAIL_TMR
Builder Frenzy : Housing Starts At Highest Point In 4+ Years
You can't always believe what you read in the papers.
Earlier this week, it was reported that Housing Starts dropped in January, with some experts positing that the housing market was getting its come-uppance; that last year's gains were too fast, too soon. What got missed in those headlines, though, was relevance.
Yes, Housing Starts dropped in January 2013. However, once we isolate the Housing Starts data for single-family homes -- the dominant home type for buyers like you and me -- the report looks much different. Read more... http://themortgagereports.com/7028/housing-starts-building-permits-truths?utm_source=The+Mortgage+Reports+Blog&utm_medium=email&utm_campaign=77dcc3172c-RSS_EMAIL_TMR
Housing Fundamentals Suggest Solid 2013 Recovery
Fannie Mae's economists said on Thursday that, despite the feeble note on which 2012 ended, the economy has the building blocks, including housing, for strong growth. Housing is now on a sustained growth path as are manufacturing and energy production but, given circumstances in Washington, Doug Duncan, Orawin T. Velz, and Brian Hughes-Cromwick said they see no reason to revise their forecast from January. They said, however, that if their forecast is wrong it will be erring on the side of being too conservative. Read more... http://www.mortgagenewsdaily.com/02212013_fannie_mae_forecast.asp
Housing Fundamentals Suggest Solid 2013 Recovery
Fannie Mae's economists said on Thursday that, despite the feeble note on which 2012 ended, the economy has the building blocks, including housing, for strong growth. Housing is now on a sustained growth path as are manufacturing and energy production but, given circumstances in Washington, Doug Duncan, Orawin T. Velz, and Brian Hughes-Cromwick said they see no reason to revise their forecast from January. They said, however, that if their forecast is wrong it will be erring on the side of being too conservative. Read more... http://www.mortgagenewsdaily.com/02212013_fannie_mae_forecast.asp
Report: Mortgage Banking to Stay Profitable; Refi Boom Not Over Yet
A new report from FBR Capital Markets asserts low rates and high demand will continue to boost profitability in the mortgage banking sector in 2013. Read more... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Freport-mortgage-banking-to-stay-profitable-refi-boom-not-over-yet-2013-02-20
Report: Mortgage Banking to Stay Profitable; Refi Boom Not Over Yet
A new report from FBR Capital Markets asserts low rates and high demand will continue to boost profitability in the mortgage banking sector in 2013. Read more...Report: Mortgage Banking to Stay Profitable; Refi Boom Not Over Yet
Housing Starts Impacted by Distressed Inventory
Housing starts declined 8.5 percent from December to January but remain 24 percent above last year's rates, according to recent data from the Census Bureau and HUD . Read more.... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fhousing-starts-impacted-by-distressed-inventory-2013-02-20
Housing Starts Impacted by Distressed Inventory
Housing starts declined 8.5 percent from December to January but remain 24 percent above last year's rates, according to recent data from the Census Bureau and HUD . Read more.... http://m.dsnews.com/?url=http%3A%2F%2Fwww.dsnews.com%2Farticles%2Fhousing-starts-impacted-by-distressed-inventory-2013-02-20
Wednesday, February 20, 2013
Crowne Plaza gets new owner
This photo of Crowne Plaza San Marcos Golf Resort is courtesy of TripAdvisor Chandler’s Crowne Plaza San Marcos Golf Resort has a new owner and soon will have a new look. Interwest Capital, which purchased the historical property on Jan.28, plans a top-to-bottom renovation, including revamping guest rooms and meeting spaces and improving the golf course and grounds, said Karl Coleman, president of Interwest Capital. “Our goal is to have that finished this year so we can celebrate the centennial of the hotel,” Coleman said. Read more: Crowne Plaza gets new owner
Crowne Plaza gets new owner
This photo of Crowne Plaza San Marcos Golf Resort is courtesy of TripAdvisor Chandler’s Crowne Plaza San Marcos Golf Resort has a new owner and soon will have a new look. Interwest Capital, which purchased the historical property on Jan.28, plans a top-to-bottom renovation, including revamping guest rooms and meeting spaces and improving the golf course and grounds, said Karl Coleman, president of Interwest Capital. “Our goal is to have that finished this year so we can celebrate the centennial of the hotel,” Coleman said. Read more: Crowne Plaza gets new owner
Mortgage bill faces tough road in Congress - DailyHerald.com
WASHINGTON — A sharply divided Congress isn't likely to jump at President Barack Obama's challenge for quick passage of a mortgage refinancing bill that supporters say could help millions of homeowners save big each year and boost the economy. Obama praised the legislation in his State of the Union speech last week, saying the proposal would help more homeowners with mortgages backed by Fannie Mae and Freddie Mac take advantage of low interest rates and refinance their loans. Read more: Mortgage bill faces tough road in Congress - DailyHerald.com
Mortgage bill faces tough road in Congress - DailyHerald.com
WASHINGTON — A sharply divided Congress isn't likely to jump at President Barack Obama's challenge for quick passage of a mortgage refinancing bill that supporters say could help millions of homeowners save big each year and boost the economy. Obama praised the legislation in his State of the Union speech last week, saying the proposal would help more homeowners with mortgages backed by Fannie Mae and Freddie Mac take advantage of low interest rates and refinance their loans. Read more: Mortgage bill faces tough road in Congress - DailyHerald.com
Some factors increase chance of audit
When it comes to income-tax audits, there’s usually safety in numbers.
In any given year, the odds suggest the Internal Revenue Service will select someone else’s return for a closer look, rather than yours.
The IRS said it audited more than 1million individuals in fiscal 2012 for the sixth year in a row, collecting more than $50 billion for the third consecutive year.
While those numbers might seem high, audit rates are really quite low — affecting just 1.03 percent of all tax returns filed. To put that into perspective, the IRS said it prevented fraudulent refund payments on three times as many returns, 3 million, stemming from the unlawful theft of Social Security numbers and other personal information from legitimate taxpayers.
Read more: Some factors increase chance of audit
Some factors increase chance of audit
When it comes to income-tax audits, there’s usually safety in numbers.
In any given year, the odds suggest the Internal Revenue Service will select someone else’s return for a closer look, rather than yours.
The IRS said it audited more than 1million individuals in fiscal 2012 for the sixth year in a row, collecting more than $50 billion for the third consecutive year.
While those numbers might seem high, audit rates are really quite low — affecting just 1.03 percent of all tax returns filed. To put that into perspective, the IRS said it prevented fraudulent refund payments on three times as many returns, 3 million, stemming from the unlawful theft of Social Security numbers and other personal information from legitimate taxpayers.
Read more: Some factors increase chance of audit
Mesa expects freeway to drive development
Like a modern Stonehenge, rows of massive pillars guard swaths of as-yet-undeveloped desert in southeast Mesa. Adorned with rebar and the hieroglyphics of freeway artistry, the towers soon will be topped with what planners see as a literal roadway to the future.
The vision includes high-rises just across the street from Phoenix-Mesa Gateway Airport. It includes a 60-gate airport terminal just south of where the freeway will someday cross Ellsworth Road. It embraces the concept of a world-class “aerotropolis” that may become one of the state’s strongest economic nodes.
Read more: Mesa expects freeway to drive development
Mesa expects freeway to drive development
Like a modern Stonehenge, rows of massive pillars guard swaths of as-yet-undeveloped desert in southeast Mesa. Adorned with rebar and the hieroglyphics of freeway artistry, the towers soon will be topped with what planners see as a literal roadway to the future.
The vision includes high-rises just across the street from Phoenix-Mesa Gateway Airport. It includes a 60-gate airport terminal just south of where the freeway will someday cross Ellsworth Road. It embraces the concept of a world-class “aerotropolis” that may become one of the state’s strongest economic nodes.
Read more: Mesa expects freeway to drive development
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