Rocky Point Condo Rentals

Luxury Suite Lodging in Puerto Peñasco, Mexico

Overlooking Rocky Point’s Sandy Beach, our beautiful condominium–style lodging is a jewel among the sand, sea and surf of Puerto Peñasco, Mexico. Our colorful condominiums feature oceanfront suites, uniquely decorated to reflect different styles and décor. Relax and rejuvenate in our beautifully–adorned one & three bedroom suites that serve as an oasis for vacationers seeking pleasure and tranquility by the emerald–colored sea.

A Luxury Resort in Puerto Peñasco, Mexico

Set against the magnificent Mexican landscape of the Sea of Cortez, captivating beaches and windswept dunes, Las Palomas Resort is a lavish private resort with a tranquil atmosphere of soaring luxury where you’ll discover breathtaking views of the azure sea. Bright colorful buildings that resemble the sunsets of Puerto Peñasco reflect a contemporary Mexican style and architecture. From the moment you enter this magical oasis of Puerto Peñasco, the charming décor and enchanting ambiance will rejuvenate your soul.

Indulge in Luxury on the Mexican Riviera.

Las Palomas Beach & Golf Resort is the only resort in Puerto Peñasco with a full gamut of luxury Resort services and world-class facilities. Blessed with spectacular views of the Sea of Cortez, our enchanting Rocky Point resort offers guests a perfect vacation filled with incredible 4 Diamond cuisine and luxurious accents, such as a boutique, a fitness center, infinity-edge pools with a waterslide and a lazy rivers, a kiddie pool, Jacuzzis, pool bars, a White sand beach, seaside gardens, and “The Links”, a Championship Par 72, 18-hole links style golf course contoured around the dunes and sparkling sea.

Check out our website for photos, pricing, to make a reservatoin or for additonal information at www.RockyPointOnline.net

It's good to be...

U. S. Markets were doing the happy dance last week when unexpected strong corporate earnings from Ford (from European sales), American Express (from overseas business), and Goodyear Tires (overseas purchases) steadied the Stock Market.   According to the unemployment claims more people are working and the combination contributed to Wall Street’s good mood.   Reports in major publications crooned that the worst was over. For those of us that believe that we are already in a recession, the reports stated that we are coming out of it. For those who believe we are not in a recession, the reports stated the economy has dodged a bullet.  The markets ignored any reports pertaining to financing or housing.    With all of this “good news” it is conventional wisdom that the Fed will only drop the Fed rate .250 and it may be the last change for awhile.   Cutting the rates may have helped banks borrow money cheaply but it has hurt the worth of the dollar overseas and has helped the continued climb of oil rates.   Also with the Chinese purchasing cars in record numbers it has only increased demand for oil and therefore kept the price of oil at historic levels.

Top 10 Home Features Desired by all Home Buyers

1. Central Air Conditioning
2. Garage (2 or more spaces)
3. Walk-in closet in master bedroom
4. Backyard/play area
5. Cable/Satellite TV-ready
6. High-speed Internet Access
7. Separate shower enclosure in master/main bath
8. Patio
9. Fencing
10.Home less than 10 years old


Source: NAR 2007 Profile of Buyer's Home Feature Preferences

Forecast for the Week

After last week's relatively slow economic news calendar, things will heat up this week with several events that have the potential to move the market. On Wednesday, the Fed will announce their interest rate decision...and then the very next day, the Fed's most favored gauge of inflation will be released, the Personal Consumption Expenditure Index (PCE). It will be interesting to play armchair quarterback to the Fed's decision, and watch what the inflation numbers reveal! And let's not forget, on Friday we will see the important Jobs Report, where early estimates are for a net loss of 80,000 jobs.

Interest Rates Change Daily

Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between stocks and bonds.

When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.

A unique kind of restaurant

Looking for a unique dining experience? Tired of the same few restaurants?
Try something new at Bak'd on main street in Mesa. It is by 24-hour advance reservation only & the cost is $50 a person.....But get ready to enjoy an incredible 5 to 7 course meal surprise! You tell the chef what kind of meal you would like (for instance you can specify if you would prefer a seafood, steak, or Italian type meal) and they knock your socks off! It's an intimate atmosphere and BYOB! Yes, you can bring your own wine, beer, or liquor with no corking fee charges! Go to www.bakd.net
-Posted by Leah Hamman

Subscribe to our blogs!!

Did you know you can subscribe to receive our blogs each day? Just click on the orange & white (RSS feed) on the bottom of your toolbar above ( it looks like the picture above). That way you never miss any of our insightful information! Where do you find your feeds? Click on your "My Favorites" icon & then select the feeds icon...there they are!!! Good luck & we look forward to seeing you daily!

Current Market Statistics

There are currently 55,587 homes listed in Maricopa & Pinal Counties. Last month 4,654 houses sold in the same areas. This leaves an 8 month over supply as opposed to a 19 month over supply of listings in February!!! The market is looking up, our office is busy as heck with both buyers and sellers. Our listings are getting shown, we are receiving offers on homes that are priced right & buyers are getting great deals!! In the market to buy or sell? Give us a call today & find out how we can hlep you reach your goal! Or check out our website @ http://MyArizonaHomeTeam.com

Discounts, discounts, discounts!

Visit this website: http://homedepot2.hosting.exacttarget.com/OptIn/? and sign up to receive coupons and special discounts through home depot!

Energy Star Appliances:

Did you know that the average home spends about $1,900 on energy costs every year? Change to appliances that have earned the ENERGY STAR, and you can save $80 a year in energy costs, while saving the environment.
When buying an appliance, remember that it has two price tags: what you pay to take it home and what you pay for the energy and water it uses. ENERGY STAR qualified appliances incorporate advanced technologies that use 10–50% less energy and water than standard models. The money you save on your utility bills can more than make up for the cost of a more expensive but more efficient ENERGY STAR model.

A PENNY FOR YOUR THOUGHTS

Starting May 12th, it'll cost you one extra little penny to mail someone your thoughts. That's right...the US Postal Service is getting ready to make some price changes, and the biggest change for most consumers will be a price increase for First Class stamps from 41c to 42c.

The news isn't all bad, though. That's because for the first time in the history of the US Postal Service, the new pricing structure will include online price reductions, rebates, commercial volume and contract prices, as well as several other new incentives. The heat must be on the USPS to be competitive in pricing, as according to Postmaster General John Potter: "These innovative pricing incentives will make our products more attractive to all shippers, especially small businesses. We're pricing our products to sell in today's competitive shipping market."

The information below can help you plan for your postal expenses - and figure out a few ways that you can save - starting next month.

New Prices as of May 12

Consistent with The Postal Accountability and Enhancement Act, the average increase of the prices is at or below the rate of inflation as measured by the Consumer Price Index. Here's what the new pricing will be:

First-Class Mail letter 1 oz. = 42c (current price = 41c)
First-Class Mail letter 2 oz. = 59c (current price = 58c)
Postcard = 27c (current price = 26c)
Certified Mail = $2.70 (current price = $2.65)
First-Class Mail International to Canada and Mexico 1 oz. = 72c (current price = 69c)
First-Class Mail International to all other countries 1 oz. = 94c (current price = 90c)

Ways to Save...

Forever Stamps — Last year, the US Postal Service introduced Forever Stamps... and this is your chance to reap the rewards! You can purchase Forever Stamps prior to May 12 at the lower 41c rate, and then use them even after the price change. Forever Stamps are widely available through Post Offices, Contract Postal Units, consignment locations, Automated Postage Centers, and The Postal Store®. To help meet increased demand before the price change, the US Postal Service plans to have 5 Billion Forever Stamps in stock. So you shouldn't have any problems getting your hands on them.

In addition to Forever Stamps, the US Postal Service is introducing all new ways to help you save, including the following new incentives:

Express Mail — With the new "zone-based pricing system," you'll pay less when you send a letter to a nearby destination using Express Mail. You can also save 3 percent when you purchase Express Mail online or through a corporate account. Finally, additional price reductions are available if you ship quarterly minimums.

Priority Mail — The new pricing structure includes a provision to help you save an average of 3.5 percent when you use electronic postage or meet other requirements.

Parcel Select — Large- and medium-size shippers will receive pricing and volume incentives under the "last mile" delivery provision.

Parcel Return Service — A new weight-based pricing system will result in significant price reductions for the return shipping of lighter packages.

You can learn more about the new pricing structure at www.usps.com/prices, and you can purchase Forever Stamps at your local Post Office or online at The Postal Store®.

Margaritaville and Real Estate

Selling my home now
To me its a sacred cow
Want so much no one's looking at mine
It's a real beauty
A Tuscany cutey
Can't figure out why it's still hasn't sold
It's wasting away again in inventory-ville
Waiting for that buyer to come by my home
Some people claim that the lenders are to blame
But I know....it could be REALTORS fault....

Recently nationally known real estate trainer, Jeff Elias, was in Phoenix for a training class. He spoke extensively about the national market and why REALTORS are grossly failing their clients. His point was this. Conventional wisdom in the real estate industry says that if a home isn't selling, then it has to be price, all other things being equal. So what do REALTORS do? We keep lowering the price until showings spike and then we know the price is at a point where the free market will bring a buyer. This impacts our market negatively by driving down prices, which hurts everyone. Jeff says that this may be the least desireable method of getting the house sold for both buyer and seller. So what's a seller to do? Buyers are looking for terms and sellers are looking for price. One strategy is for sellers to offer better terms to the prospective buyer such as buying the rate down for a buyer as opposed to lowering the price. For instance, a $5000 price drop will only lower a buyer's payment, at current rates, by approximately $30. That same $5000 could buy the rate down for a buyer 1 - 2 points, depending on the loan program. This would create an interest rate of 4% - 5%. This impacts the buyer more positively than a simple price reduction saving them potentially $100 per month or more. So what makes more sense for the buyer, a lower price or lower payment? What makes more sense for the seller, a higher sales price or a lower sales price? The net cost for the seller is the same and the buyer gets a more manageable payment. The market shows a higher sales price, and let's call it what it is, the REALTOR makes a few bucks more. Now that's a win-win!

If you are looking to sell your home, this is well worth considering! Your home is more appealing to a buyer when they can reduce their payment by more dollars than a minimal price reduction. It's time for REALTORS to get with the program and start to think outside of the box and do a better job of representing their clients.

At My Arizona Home Team, we are always exploring unconventional ways of helping our clients accomplish the same thing without giving up more than they would under more conventional means. There are many creative ways to sell a home. Call us! We have ideas! In the words of the old Smith-Barney commercial with John Housman, "we make our money the old fashioned way...we EARN it!"

Oh yeah, there's a new Margaritaville opening in Glendale. Fun place, good food and drink. Check it out!

Equal Housing

Equal Opportunity In Housing is the law of the land and the right of all in this country without regard to race, color, religion, sex, handicap, familial status, or national origin.

Civil Rights Act of 1866

The Civil Rights Act of 1866 provides that ³All citizens of the United States shall have the same right, in every State and Territory as is enjoyed by white citizens thereof to inherit, purchase, lease, sell, hold and convey real and personal property."

In the case of Jones vs. Mayer decided on June 17, 1968, the U. S. Supreme Court held that the 1866 law prohibits "all racial discrimination, private as well as public, in the sale or rental of property."

Fair Housing Act

In Title VIII of the 1968 Civil Rights Act known as the Federal Fair Housing Law Congress declared a national policy of fair housing throughout the United States.

The law made illegal any discrimination in the sale, lease or rental of real property based on race, color religion, sex or national origin. The law required that all people be treated equally with respect to the terms or conditions of sale, purchase, lease or rental and with no denial of equal housing opportunity based on race, color, religion, sex or national origin.

The Fair Housing Amendments Act of 1988 was enacted September 13, 1988 (and became effective March 12, 1989) to strengthen the administrative enforcement provision of Title VIII of the Civil Rights Act of 1968, to add prohibitions against discrimination in housing on the basis of handicap (mental and physical) and familial status (families with children under age 18), and to provide stiffer penalties for violations relating to discriminatory housing practices.

It's Back..

Like Cousin Eddie from the “Vacation” movies, recession has made an unwelcomed stop at the U.S. economy.  Since 1854 the U.S. has experienced 32 cycles of economic growth and pull backs.  Since 1980 we have had 4 recessionary periods.  A recession is defined as a decline in economic activity measured by:  unemployment, incomes, production and consumer purchasing.  The government tries to prevent or at least soften the effects of economic pull backs or recessions by tax cuts to give us more money to spend and decreasing the fed rate to help banks borrow money.  The real estate market weakens before recessionary cycles. This time the real estate market is therecession.   To quote Gary Schlossberg, economist at Wells Capital Management, we are more in a “fear-cession” than a “recession”: businesses and the government are taking steps to avoid a full blown, long term, recession. He also pointed out that housing prices have fallen 20% or more in some markets, but between 1998 and 2006 that there was a 225% increase in home prices in some areas. The two worst recessions were in the 1930’s and in 1982.   Farmers were losing their farms in 1982 when crop prices plummeted along with all of the other economic issues, and in the 1930’s dry, windy, weather killed the crops.  Today, the farmers are doing well and changing the model.  So maybe if this is a recession, like Cousin Eddie, we will have to withstand some annoying times before it quickly moves on.
 

TAX TIME IS HERE AGAIN...

"I shall never use profanity...except in discussing house rent and taxes." ~Mark Twain. April 15 is just a few days away...and hopefully this year's tax season hasn't caused too much profanity in your household. Of course it's always wise to be careful about criticizing the IRS, but no matter what you feel like saying about them at the moment, they have compiled these helpful tips for last-minute filers:

Go electronic. The biggest advice the IRS has for last-minute filers is to file an e-return rather than a paper tax form. The IRS considers this the best step for ensuring that your return is complete and accurate.

Check it carefully - then check it again. If you choose to file a paper return, make sure you double-check your numbers and figures. The numbers to check most carefully are the identification numbers--usually Social Security numbers--for each person listed. Missing, illegible, or incorrect Social Security Numbers can reduce or delay a tax refund.

Also, you should double check that you have correctly calculated the refund or balance due, and that you have used the right figure from the tax table. If you are entitled to a refund this year, make sure that your financial institution's routing and account numbers are entered accurately. Incorrect numbers can cause the refund to be delayed or even misdirected.

Sign on the bottom line. Don't forget to sign and date your return. If you are filing a joint return, both spouses must sign it...even if only one had income. Also, anyone that you pay to help prepare your return must sign it as well.

Make payable to...? If you owe taxes this year, you must make the check out to "United States Treasury." Do not make the check out to "IRS." Your payment should be enclosed with the tax return or the Form 1040-V, Payment Voucher (if used), but do not attach your payment to either document.

Don't throw away those labels. If you choose to mail a paper return, use the peel-off label on the tax booklet. You can line through and make corrections right on the label if necessary. If you do not have a peel-off label, fill in all requested information clearly, including the Social Security numbers.

Don't be late! By the April 15 due date, taxpayers should either file a return or request an extension of time to file. Remember, the extension of time to file is not an extension of time to pay.

Great New Listing!

This beautiful 4 bedroom, 3 bath home is located on a HUGE cul-de-sac lot at 903 S. Stilton Circle in Parkwood Ranch. The home is over 3000 square feet and has soaring vaulted ceilings, tile throughout the lower level, formal dining & living areas, secluded guest bedroom & bath on lower level, large, open great room and kitchen, master with sitting area & balcony overlooking gorgeous backyard, mountain views and greenbelt, beautiful pool, jacuzzi and backyard. All of this and more located in east Mesa, close to the 60 and 202 freeways, brand new shopping center, restaurants, movie theater and dining with more to come. Patterson elementary in neighborhood.
Please call with any questions: (480)510-9551 or visit www.ParkwoodHome.com for more information and pictures!

TAX REBATES MAILING SOON... WHEN WILL YOU GET YOURS?

Timing Is Everything! We all know the deadline for filing your 2007 taxes is quickly approaching. But you may want to be ahead of the curve if you want your tax rebate sooner, rather than later. That's because tax rebates will start going out on May 2... but only to taxpayers who have their returns processed--not just sent--by April 15. The closer it gets to mid-April, the more the IRS gets backed up to process the flood of returns--sometimes taking a couple of weeks to complete. E-filers will get their rebates more quickly, since electronic returns can be processed faster. However, even e-filers should have their returns in by April 10 to be safe.

Would You Like Paper? Or Electronic? Tax rebate checks will start going out on May 2. But here's the deal... taxpayers who chose direct deposit will be first in line. According to the IRS, all direct deposit tax rebates will be wired between May 2 and May 16. Paper checks won't start going out until May 16, and aren't expected to be completed until mid-July.

What's Your Number? The IRS needs some way to determine the order of distributions - but they're not going alphabetically. Instead, tax rebates will be distributed in order of the last two digits of your Social Security number...the lower your number, the sooner you'll receive your payment. For a detailed breakdown of the order, take a look at the IRS's Stimulus payment schedule @ http://www.irs.gov/irs/article/0,,id=180250,00.html

About seven to ten days before your rebate is sent, the IRS will send you a notice informing you how much it will be. If you signed up for direct deposit, however, you'll probably receive that information in the mail about the same time your rebate is deposited into your account, since direct deposit transactions are processed so quickly. But you don't have to wait that long to determine approximately how much you'll receive. To calculate your approximate rebate, visit the new online stimulus calculator on the IRS website @ http://www.irs.gov/app/espc/ .

Finally, it's important to remember that the rebate check will not be counted as taxable income and will not reduce your refund or increase the amount you owe when you file your 2008 return. However, if you owe back taxes, the IRS will apply your rebate to that bill and send you whatever is left over.

For more information, visit the Economic Stimulus Package Information page on the IRS website @ http://www.irs.gov/newsroom/article/0,,id=179211,00.html . You can even read detailed answers to Frequently Asked Questions @ http://www.irs.gov/newsroom/article/0,,id=179181,00.html .

AT THE CAR WASH....

With spring in full swing and summer fast approaching, most people want to have their car looking good. Driving a nice clean car just feels good--and it can also help to preserve its appearance and resale value.

What's the Best Way to Clean Your Car... at the Car Wash or at Home?Believe it or not, an automatic car wash is not only more convenient, but it can also be much safer for your car than washing the car at home. Why? If your car is washed by hand in direct sunlight, the drops of water turn into mini magnifying glasses, which can cause the sun's rays to burn spots into the paint--and this could cost you big when going to resell the vehicle. Additionally, many people use harsh household soap products, which remove protective wax and leave a chalky residue on the surface. Taking this into consideration makes the $8 to $15 automatic car wash fee look pretty reasonable.

Of course, the car wash has a number of "extras" that can add up fast and quickly double the cost of a quick car wash! Before you agree to the "works" package, find out what is included and decide if it is really worth the extra money to have a fresh scent sprayed in the interior, or a spray-on wax applied to the exterior.

Consider These Tips the Next Time Your Car Needs a Shine.

Rust Proof Spoof? Undercarriage rust proofing may be one of the extras you can do without. That's because most new cars were already rust proofed at the factory, and adding a car wash proofing adds little to nothing in terms of true protection.

Wax On, Wax Off. Many automatic car wash machines offer a spray-on wax feature. But, truth be told, spray-on waxes offer little more than a surface-level shine. A hand-applied wax, on the other hand, may be worth the investment because it helps restore precious oils and provides a UV-protective film.

Wash That Grease Away? In most cases, you'll want to avoid having your engine cleaned. The high-pressure water used to perform the engine cleaning can cause serious engine problems in new vehicles.

Undercarriage Cleaning. Rust proofing your car's undercarriage may not be necessary, but you should consider adding an undercarriage cleaning. It washes away residue from the winder and helps prevent buildup that a regular car wash can't reach.

Ring Around Your Tire? Tire dressings are a better investment and more important than they may seem at first. That's because they actually provide a strong cleaning that removes dirt and brake dust that may cause problems if left unchecked.

To Brush or Not To Brush. When it comes to automatic car wash machines, you should always opt for a brushless car wash. Older car wash facilities may still use brushes, which tend to leave light scratches in the paint. They can also remove the clear coat that was applied by the factory to protect the paint.

Coupons, Discounts and Deals!

Recently USA Today published a story on online coupons, discounts, deal sites and where one can find them. Thought we'd post them here as well. Some of the sites have discounts already applied and others provide one with promotional codes that apply the discounts to other online vendors. Here are a few of the sites listed in the article.

BradsDeals.com
retailmenot.com
currentcodes.com
thedailygreen.com
couponcabin.com

Some tips from the "experts":
----"Never go to online checkout without first visiting a coupon-code website"
----"Do price comparisons of the product you're buying even if the deal already sounds good"
----"Factor in whether free shipping or a discount is more valuable before choosing one promotion over another"
----"Try to 'stack coupons'" - some sites will allow this

Lastly don't forget our team's commitment to the community. Please feel free to print our coupon at the top of this article and use it if you or anyone you know is planning to buy or sell. Call us for full details. And even though it says youth sports, we will gladly contribute under this program to any youth organization!

Happy deal hunting!

Existing Home Sales Rise

Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September.

Lawrence Yun, NAR chief economist, said the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he said. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year.”

Written by: Walt Molony, REALTOR

Posted by: Laurel Nielson

Elegant Horse property - a STEAL at $485,000!!!

Ellsworth and Riggs South on Riggs.East on Excelsior Ave. South on 211th Street. East on Orchard Lane. Large Corner Lot!
This exquisite basement home boasts 5 bedrooms plus a Den. Large great room with custom wood floors overlooking the
kitchen with granite countertops, stainless steel appliances and a pantry. Three full bathrooms with a large master bath and
closet. Basement has a large entertaining room with 2 bedrooms and one full bath. Plush upgraded carpet and plantation
shutters throughout. Well landscaped backyard with an extended covered patio, built in BBQ and fire pit all on 38,000+ sf lot.
3 car attached garage and 1 car detached with epoxy floors. This home has much, much more. See for yourself!










Please contact me for details! Priced at $485,000!!

Search the MLS for free on my website. www.katiehalle.com


Katie Halle

REALTOR



Mobile: 480.250.0023

katie@katiehalle.com



My Arizona Home Team

www.myazhometeam.com

TAKING AN INTEREST IN YOUR CREDIT CARD RATE...

Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.

As such, your credit cards can have a major impact on your financial wellbeing and even your credit score. But did you know that your credit score can also impact your credit cards...specifically your interest rates? Although some companies have abandoned the practice, many won't hesitate to raise your interest rate if your credit score declines - even if you are paying them on time! By following these tips, you can help avoid inflated interest rates on your credit cards...and perhaps even enjoy more trips to the ballpark:

Understand the terms. The best way to protect yourself from high interest rates and hikes is to read and understand your credit cards policy terms. Pay particular attention to the interest rate, how long that rate is in effect, and what actions can lead to a hike - such as a late payment on your card, a declining credit score, or even a late payment on a completely unrelated bill.

Don't be late. Making a late payment can lead to increased interest rates on all your cards. In addition, they can lower your credit score, causing you even more problems down the road. So make a schedule and always pay on time.

Watch the mail. We all get junk mail, but some of it may not be junk after all. Whenever you receive any information in the mail from your credit card, read it carefully in case any policies or interest rates are changing.

Make a call. If your rate does change, call the company. If you've made your payments on time consistently, you may be able to get your original rate restored. If the company seems hesitant, you may want to threaten to transfer your balances to another card - customers in good standing may find they have more bargaining power than they realize. And don't just threaten to make a change...actually do it if it makes sense. You may find the grass actually is greener on the other side.

Be careful what you close. Closing a card that has a current balance will likely send your interest rate soaring. In addition, closing your oldest credit cards can have a negative impact on your overall credit score. So make sure you check and double check which cards are best to close.

PAULSON PLAN: MASSIVE CHANGES TO FINANCIAL SYSTEMS

Treasury Secretary Henry Paulson announced a proposal for sweeping overhaul of financial regulatory systems in the country.

These proposals would expand the oversight of the Federal Reserve while eliminating or merging several existing agencies and taking over the role of the states in some areas.

The so called Paulson plan wouldn't increase overall regulation of the financial markets, however it would give the Executive Branch additional power to administer existing rules. Its scope would include not only banks, investment banks, mortgage lenders, and hedge funds but also insurance companies.

In this new proposal, the Federal Reserve would be designated a "market stability regulator" and therefore would have the power to examine the books of any financial institution that might potentially destabilize the nation's financial systems. In addition, it would eliminate the Fed's direct oversight of banks, turning that responsibility over to a new agency.

In addition it is likely that the Securities and Exchange Commission would ultimately disappear or be merged with the Commodities Futures Trading Commission, since many of the institutions the Fed would be monitoring are currently regulated by it. Furthermore, the proposal directly states that the Office of Thrift Supervision would be eliminated, with its current function as regulator of the nation's savings and loans merged into the Comptroller of the Currency which already supervises national banks. To determine whether the Federal Reserve or the Federal Deposit Insurance Company would have federal oversight over state-chartered banks a study will be done.

On top of this, the plan calls for the creation of a Mortgage Origination Commission which would evaluate the supervision of mortgage lending in each state. The intention of this would be to give states an incentive to improve their regulation so that investors would not avoid mortgages originated in their states.

As the plan initially has been expounded on, many are calling the Paulson plan potentially the greatest reorganization of the regulatory system since the Great Depression. So there is no doubt that there will be much mulling of the details over the next 12 months. Ultimately, it is unlikely that much progress will be made on implementing any of its proposals until after the election and until a new administration takes office. The initial response to the bill has been mixed, so time will tell what this bill will ultimately look like when it does going into effect.

40 Years Later, Realtors® Remain Vigilant to Ensure Fair Housing for All Americans

40 Years Later, Realtors® Remain Vigilant to Ensure Fair Housing for All Americans
WASHINGTON, April 01, 2008 - As America celebrates the 40th anniversary of the passage of the Fair Housing Act this month, Realtors® continue to be outspoken advocates for fair housing, working with home buyers and sellers to ensure they receive equal access to affordable housing and homeownership.

The Fair Housing Act protects the basic right of all Americans to pursue the dream of homeownership, free from discrimination based on race, color, religion, sex, disability, familial status and national origin. NAR demonstrates its strong commitment to fair housing through partnerships with real estate diversity partners, education, and grant and award programs.

“Realtors® build communities and play a vital role in advancing fair housing laws and improving access to affordable housing,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “NAR and its 1.3 million members pledge to continue our work educating home buyers and homeowners in our communities about fair housing laws, discrimination and predatory lending practices, making the dream of homeownership viable for all Americans.”

NAR is working with Congress to make permanent the new FHA and conforming loan limits, mandated by the economic stimulus package, so that Americans can access affordable financing in all areas of the country. Realtors® also continue to push for a stronger, more flexible FHA program, to give more first-time home buyers access to affordable and safe financing options.

For the past decade, NAR has been educating Realtors® about being sensitive to and aggressive in meeting the homeownership needs of a diverse society through its “At Home with Diversity” program. More than 25,000 Realtors® have completed the course. In celebration of Fair Housing Month, NAR is waiving the At Home with Diversity® program fee for any local or state Realtor® association that sponsors the course in April. Realtors® can also save 50 percent off the online At Home with Diversity® course this month.

NAR also embraces fair housing by recognizing the efforts of individuals and organizations that advance minority homeownership. NAR joins together with five real estate diversity partners in sponsoring the HOPE Awards (Home Ownership Participation for Everyone). The awards showcase exceptional individuals and organizations that are working to increase minority homeownership, revitalize communities and expand affordable housing opportunities.

In 2007, NAR proudly contributed $1 million to the Martin Luther King, Jr. National Memorial Project. The memorial is due to open on the National Mall in Washington, D.C. in 2009.

In addition, NAR’s Community Outreach Department provides financial resources to local and state Realtor® associations for programs and activities that advance smart growth, diversity and housing opportunities. Grants of up to $5,000 are awarded twice a year; more than $239,000 was awarded in 2007.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Written by Sara Weis


Posted by Laurel

Disclose or Not?

The AZ Republic today reports a story about a buyer who is suing the seller of a home in Arcadia and the seller's real estate agent for failure to disclose that a neighbor was a nuisance. Apparently the neighbor was known for tirades against the seller and other neighbors, shouting profanities and infringing on neighbor's properties. The seller did not disclose this in the Seller's Property Disclosure Statement. While it may or may not have been required of the seller to disclose such issues with the property, it certainly could be what is called a "material fact" related to the property that would impact the buyer's decision of whether or not to purchase the property. The verdict isn't in but it seems the buyer may have a valid case.

So what's a seller to do? One key rule when selling a property is "when in doubt, disclose." Sellers are anxious in our market to get their homes sold and the temptation to not disclose a fact of the property is great. However, to not disclose could be a serious issue ending, as in this case, a lawsuit. So "when in doubt, disclose" is an excellent rule for the seller to follow. Don't risk serious financial consequences just to get the deal done. Honesty is always the best policy. There's a reason the Residential Purchase Contract is 9 pages long and the Seller's Property Disclosure Statement covers practically all issues of material fact. That reason is to protect all parties in the transaction. So, protect yourself, regardless of which side of the transaction you are on. Sellers should disclose and buyers should investigate all matters that may be of concern to them.

Spring Cleaning Means Getting Your Credit in Order

Ah, spring... A time to clean out the garage—and maybe straighten up some other parts of your household. Like your credit. Just like you would with any other part of your personal finances, you want to examine how you’ve been spending your money and look for ways to do it more effectively.

Start by taking a good look at the numbers. Has your credit score score gone up or down over the past year? Are you planning a major purchase in 2008, like a car or a house, where you’ll need to show lenders that your credit is absolutely the best it can be? The year may no longer be new, but you can still set some goals for yourself financially.

Take a look at your credit to determine spending patterns and see where you can improve or save yourself money. Interest charges on unpaid balances are often an area where people can improve. For example, if you have a $5000 balance on a card with an interest rate of 17%, you’re going to pay $850 in interest charges.

If you can’t pay off your balance immediately, negotiate with the credit card company to lower your rate. Often they will lower it rather than lose a customer (if your credit is good). If the credit card company refuses to lower your interest rate, consider transferring the balance to a card with a low or zero percent interest rate on balance transfers. You might’ve been receiving such offers in the mail all along from your existing creditors. (Just be careful not to add to that balance with new charges as you pay it off.)

A useful option for paying down credit card balances is to set up an automatic payment plan with the credit card company. With automated payments, you don’t have to remember to pay every month (and you’ll never have to worry about late fees or penalties).

If you’ve saved them, your credit card statements can provide an invaluable snapshot of how you’ve been spending over the past months. And if you haven’t saved paper copies, most credit card companies will allow you to access online statements. Take a look at all your monthly statements over the year to determine where your money really goes. If you’re planning to make a budget, credit card statements can show you expenses you might need to budget for that you weren’t expecting—or show you areas where you can cut back.

Finally, you probably already know that it’s critical to check your credit regularly to make sure there are no inaccuracies or instances of identity theft or fraud. Now is a good time, if you haven’t been doing this regularly, to start. And if you find inaccuracies, you’ll need to dispute them.

As for physically cleaning up your credit—in other words, how long should you hang onto credit card receipts and statements? Keep receipts of purchases you’ve charged until you get the monthly statement; if they match, shred your receipts. If you have tax-related expenses on your statements, keep them for seven years.

Survivor Realtor

The reality TV show, “Survivor….” has had many versions, challenges and immunity rewards over the years it has been on TV. So has My Arizona Home Team. As the market continues to fluctuate and in most cases decline, it is becoming more important for buyers and sellers to have quality representation. Many REALTORS® have left the profession completely or have severely curtailed their activities, taking other employment and practicing real estate part time. Who are the survivors and thrivors in real estate? My Arizona Home Team strongly believes that to survive in the profession, the client/REALTOR® relationship must be one based on knowledge, professionalism, and trust in every way. That’s how we’ve weathered the storms of the last 18 months or so.

MY ARIZONA HOME TEAM KNOWLEDGE
With over 30 years of general contactors experience and combined real estate experience over 50 years, our knowledge of the market is unsurpassed. My Arizona Home Team knows that price per square foot is the least accurate way to measure value. There are way too many variables involved to make such a broad assumption. Factors such as builders, options and upgrades, landscaping, exterior features, all enter into the determination of value.

My Arizona Home Team is a knowledge-based team, meaning we base our entire business model on knowledge and see our role as consultants not salespeople. What’s the difference? A consultant has extensive knowledge of the market, builders, construction quality, upgrades and true value. All of these factors are essential to you, the client, in order to make an intelligent decision. In contrast, a sales person simply wants to earn the commission and may not be concerned with the client’s best interest. My Arizona Home Team consults with our clients through EVERY step of the buying and selling process to ensure their interests are protected.

MY ARIZONA HOME TEAM PROFESSIONALISM
Statistics show that 50% of all agents complete less than 1.9 transactions per year. Clearly, these are virtually non-productive agents who pursue the business as a hobby and NOT a business. As a result, they lack industry and market intelligence as well as essential problem solving skills that may cost their clients tens of thousands of dollars. As the skill level drops, fewer contracts come to close and the public perception of the profession declines. My Arizona Home Team’s full time agents close, on the average, over 75 transactions per year. We rank among the top 10 teams in our Region. We also commit to more than 15 hours a week to education and training. Several of our team members teach and facilitate training for our company.

MY ARIZONA HOME TEAM TRUST
Locally, there are over 117,000 licensed agents, most of whom “have never experienced a normal market, let alone a down market.” (REALTOR® Magazine, Feb. 2007) Many of these newer agents are part timers, with limited understanding of the current market and the factors that make it what it is. “Inexperienced agents could give bad advice to buyers encouraging them to pay more than a property is worth in a [correcting market.]” (CNNMoney.com, Nov. 2006)

Trusting My Arizona Home Team with your real estate needs is the wisest decision you can make when considering who will represent you in your sale or purchase. Our years of experience both in real estate and in a variety of other disciplines combined with our expertise in the WHOLE market is the reason why we ask you to trust us. We don’t take trust for granted, and recognize that we must earn the trust of our clients and fellow agents. We work hard to earn the trust of our clients and are willing to prove it! Remember there is more to real estate than just having a license.