Gobblin Cheese Ball

Ingredients
• 2 (8-ounce) packages cream cheese, room temperature, plus 2 (8-ounce) packages whipped cream cheese
• 4 tablespoons butter, room temperature
• 1 tablespoon milk
• 2 cups shredded mixed cheeses , such as cheeses for tacos
• Green food coloring
• 2 large tortilla chips
• 1 whole pepperoncini pepper
• 2 pimiento-stuffed olives
• 1 bell pepper, cut 2 thin strips and 6 small triangles
• 6 pitted green olives
• 20 small carrot sticks
• 3 cups shredded red cabbage
• Toothpicks
• Assorted crackers
• Assorted vegetables

Directions
Place 2 packages of cream cheese, butter, and milk in a mixing bowl, scraping down the sides of the bowl a few times. Beat with an electric mixer until smooth and combined. Add the shredded cheese and mix until well combined. Cover the bowl with plastic wrap, and chill in the refrigerator for at least 4 hours, or up to 24 hours.
Remove the chilled cheese mixture from the refrigerator. Place the mixture on a piece of waxed paper and form the cheese ball into a head-like shape. Place 3 pieces of waxed paper around the edges of a serving plate, leaving open space in the center. Place the cheese in the center of the platter so some of it is right on the platter, but the edges are on the waxed paper. This will ensure that the platter does not get dirty while you make your goblin.
In a medium bowl, stir the remaining softened cream cheese until totally smooth. With a spatula, spread the whipped cream cheese over the head. It's O.K. if it's not totally smooth - this will give your goblin spooky skin.
Place a few drops of green food coloring in a small bowl. Add 1 tablespoon of water and mix well. With a pastry brush, paint the tortilla chips with the food coloring until they are the desired color. Set aside to dry for a few minutes.
Once the chips are dry, press them into the sides of the cheese ball to form ears. Skewer the pepperoncini with a toothpick and then attach it to the center of the head to make a nose. Press the pimiento-stuffed olives into the head to form eyes. Use the 2 red bell pepper strips to make eyebrows. Take the pepper triangles and insert them into the holes in the pitted green olives. The green olives will serve as toes, and the red pepper strips will be scary toenails. Once the olives are assembled, press them into the bottom of the head to form the toes.
Press the carrot sticks into the head to form teeth. Leave them sticking out a bit to make scary teeth. It's O.K. if your carrot sticks are different lengths and thicknesses. Hold the head onto the platter with a spatula and gently pull away the waxed paper. Finally, press the cabbage into the top of the head to make hair.
Serve with crackers and assorted vegetables.

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San Tan Valley: It is Official

As of June 23rd, 2009 the unincorporated area of Pinal County, known as the greater San Tan Area is now known as the community of San Tan Valley, Arizona. This name was chosen after careful scrutiny of approximately 2,000 votes.

This area is not part of the Queen Creek town limits and there was often confusion about where people live. Depending on who you talk to, the area is known by different names: Bella Vista, Queen Creek, Johnson Ranch, “south of Queen Creek” or other variations like that.

The U.S. Postal Service announced a change in zip codes for a variety of areas throughout Pinal County. In his communication with local residents, District 2 Supervisor Bryan Martyn discussed giving the area a specific identity. By “branding” the area as different from – and larger than – Queen Creek, Supervisor Martyn believes the community will have a more marketable identity.

“When the economic recovery happens, and it WILL happen, companies will be looking to expand their businesses or regional offices in places like the San Tan Valley,” Martyn says. “We have a young, vibrant and diverse workforce that would love the chance to work closer to home. We need this marketable identity to attract the kind of economic development that pays higher wages.”

The change in zip codes offered perfect timing for changing letterhead, address labels and so forth. If you already have to make the change, it makes the most sense to do it all at once, Martyn said.

As of July 1, 2009, residents of this area should begin using San Tan Valley, AZ (New Zip Code) on correspondence, mailing labels and stationery. Also, begin notifying companies that bill you for utility service, charge cards, insurance companies and so forth.

You have a one year grace period to make the change. After July 1, 2010, if your mailing list has not been updated, you may not receive correspondence if it is not correctly addressed.

If your subdivision is on this list, you may begin using San Tan Valley, AZ as your address.



Listing of communities affected by this change:

Arabian Trails
Bella Vista
Bella Vista Farms
Caballero
Cambria
Canyon Rock
Castlegate
Circle Cross
Copper Basin
Dobson Farms
Equestrian Manor
Estates
Fairways I, II & III
Gallery I, II & III
Greens I & II
Home Place
Horseshoe Canyon
Ironwood Crossing
Johnson Ranch Phase I
Johnson Ranch Phase II
Lakeview Gardens
Laredo Ranch
Lariat
Legends
Magic Ranch
Masters
Meadow Vista
Moonshadow
Morning Sun Farms
Mustang Ridge
Northern Johnson Ranch
Oasis Magic Ranch
Ocotillo Trails
Ocotillo Verde
Ocotillo/Kenworthy
Pecan Creek
Pecan Farms
Pecan South
Ponderosa
Quail Run
Rancho Bella Vista
Riding Stables
Rodeo Ridge
Rurals
RV Park
San Tan Heights
San Tan Shadow
Silverado Ranch
Skyline Estates
Skyline Ranch
Solera
Sonoran Villages
Southern Johnson Ranch
Stagecoach Pass
Sterling
Stonegate, Rosewalk
Superstition Views
Taylor Ranch
The Crossings
The Links
The Springs
Torrey Park
Trilogy
Vineyard Estates
Ware Farms
Wayne Ranch
Whitewing

For more information about the name change and what occured, please visit http://www.ourgstac.com and click the NOTIFICATIONS tab.

The Recession is Over....

Marshall J. Vest
Forecasting Project Director
University of Arizona

Evidence continues to grow that the U.S. economy bottomed out during the second quarter – likely in June, maybe May. In Arizona, economic measures remain on a downward trend, confirming our expectation that the state will lag behind the rest of the country. In our annual update of long-term projections, we’ve lowered our forecasts for 30 years hence, but we still foresee population nearly doubling.

Gains in the index of leading economic indicators, better numbers for housing, recovering economies of major trading partners, increases in industrial production, higher production schedules by auto makers, large declines in inventories, rising productivity, widening profit margins, and recovery in capital expenditure plans are all pieces of evidence supporting belief that the recession has ended.

Consensus forecasts now call for a sluggish recovery due to still tight credit markets and sluggish consumer spending. Budget restraints by state and local governments and an emptying of the non-residential construction pipeline also will retard growth in the near term. It will probably be 2011 or 2012 before robust growth resumes.

Recent Evidence for Arizona
Aggregate bellwether measures show that Arizona’s economy remains in recession but that a bottom is beginning to form. July nonfarm employment declined at a seasonally adjusted annual rate of 7.7%. Compared to year-earlier readings, those losses are worse than in any other state. But the declines are not as large as six months ago when employment was plunging at nearly a 10% annual rate.

Sales data also are beginning to stabilize. Retail sales, which was declining at a 20% annual rate last winter, was declining at a much more subdued 5.3% rate in June. “Cash for Clunkers” deserves partial credit. Better yet, restaurant and bars sales have bottomed out and actually registered a small 1.5% increase in June.

Housing markets also are showing signs of improvement. Although foreclosures remain high, inventories of housing for sale are falling and prices are beginning to stabilize. In July, MLS listings in metro Phoenix fell to 36,000 compared to 58,000 a year-and-a-half ago. With the number of sales now running at a 90,000-plus annual rate, the supply would be exhausted in only 4.5 months. Although a four-to-five month supply is considered “normal,” housing markets are still far from normal. Roughly half of recent sales were foreclosed properties or “short sales,” mortgage financing remains tight -- especially for jumbo loans, and migration flows remain depressed (Exhibit 1).

Exhibit 1: Housing Markets Are On the Mend

Although it’s too soon to expect much of a rebound in homebuilding, we could see permit activity pick up from very depressed levels in coming months.

Updating a graphic that we prepared six months ago (Exhibit 2), we find that residential building activity (as measured by building permits) has fallen by 89% from its peak level. That compares to declines of 74% and 71%, respectively, during two earlier severe recessions. Nonfarm employment is down 9.1% so far, compared to a 4.5% peak-to-trough decline in the mid 1970s, and 2.2% in the early 1980s. Inflation-adjusted retail sales fell 10.7% in the 1970s recession and 33.1% in the early-1980s. In the current recession, sales have fallen 27.1% so far.

Need further clarification? Give us a call today...480-889-1424.

Last Week in the News

Existing home sales rose 9.4% in September to a seasonally adjusted annual rate of 5.57 million units from 5.1 million units in August. The increase was largely due to the tax incentive for first-time homebuyers.

According to the ICSC-Goldman Sachs index, retail sales rose 0.2% in the week ending October 17. On a year-over-year basis, retailers saw sales increase by 2.8%, the best showing in a year.

The producer price index, which tracks wholesale prices, rose 0.6% in September, following a 1.7% increase in August. For the year, wholesale prices are down 4.8%. The Commerce Department reported that the combined construction of new single-family homes and apartments in September increased 0.5% to a seasonally adjusted annual rate of 590,000 units. That was less than the 610,000 economists had expected.

Initial claims for unemployment benefits rose by 11,000 to 531,000 in the week ending October 17. The figure was higher than the 515,000 that economists had forecast. The number of people continuing to claim jobless benefits in the week ending October 10 fell by 98,000 to 5.92 million.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 1% in September after a revised 0.4% gain in August. It was the sixth straight monthly increase and marks the largest six-month gain in 26 years.

The National Association of Home Builders / Wells Fargo housing market index fell one point in October to 18. The decrease reflects the soon-to-expire tax credit for first-time homebuyers that boosted home sales earlier this year. An index reading below 50 indicates negative sentiment about the housing market.

Upcoming on the economic calendar are reports on consumer confidence on October 27, new home sales on October 28 and gross domestic product on October 29.

We can help your new home dreams come true…give us a call today 480-889-1424

Valley Wide Inventory Graph

Sept. 26, 2009-Sales Prices Over 97% of List for the First Time in Three Years

The average achieved sale price, as a percentage of list, is a significant measure of the market. When it drops we conclude the market is deteriorating and when it rises the opposite is true.

On September 25 the percentage for all areas & types within the ARMLS database hit 97.01%, exceeding 97% for the first time since September 4, 2006. This is a very positive sign. The number has been rising rapidly since hitting a low of 93.82% on February 5, 2009. The highest reading was 99.54% reached on June 5, 2005.

Phoenix Area Bank owned Sales...September 2009

The proportion of the MLS sales which are REO sales varies quite significantly by location within the valley.



REO vs. Non-REO Sales by City


September 2009



The cities comprising the valley segments which are plotted on this graph are shown in the table at the bottom of this article along with the percentage of the sales which were REO's.

3 reasons buying a home NOW makes a lot of sense...

Don’t Miss Out On Your $8,000 Tax Credit

Buying Your First Home?
That’s right. Buy your first home before December 1, 2009, and you may be eligible for a tax credit of up to $8,000.

Think how handy that extra money will be as you settle into your first home. The
pricing and availability of homes has never been better, and now with the
government’s tax credit for first‐time homebuyers, there’s no reason to delay.

TAX CREDIT DETAILS:
First‐time homebuyers only.
Does not need to be repaid.
Equal to 10% of the home’s purchase price up to a maximum of $8,000.
Available for homes purchased before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

SUBJECT TO:
 Buyer applying for a mortgage loan no later than November 1, 2009.
 Buyer providing all required documentation within 72 hours of application.
 Fully executed contract (signed by seller and bank) must be received by November 1,2009.
 Appraisal ordered by November 1,2009.
 Full credit / underwriting approval, including acceptable appraisal.
 Seller’s performance required on returning closing documents, signed by seller, and returned by November 25, 2009.

Give us a call today to see if you qualify...480-889-1424.

* The information provided does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. Available only to qualified borrowers.

Home loan rates are already on the rise...

"LISTEN TO WHAT THE MAN SAID." And those aren't just the words from Paul McCartney's hit song of the same title...they're also words of advice for anyone who's considering buying a home or refinancing. Last week, Federal Reserve Chairman Ben Bernanke said that as the economy heals, the Fed will be very vigilant to protect against inflation. While inflation is not a problem at present...it will most certainly become a problem down the road. So why does this matter if you are considering purchasing or refinancing? Because inflation is the arch-enemy of Bonds and home loan rates, and just the knowledge of it coming has been causing both Bonds and home loan rates to worsen in recent days. Along with the fear of inflation, the Fed's purchasing program of Mortgage Backed Securities is already slowing down, with the end of their buying in sight - and the reduced demand for these Bonds is also driving home loan rates higher.

Bottom line: home loan rates are already on the rise, and we won't likely see these low historic levels again.

Interest rates are still very near historic lows - George Washington couldn't have gotten a better interest rate - and the opportunity these low rates present is huge for homebuyers or people looking to refinance. If we haven't talked recently about your own home loan situation - or if you have a friend, family member, neighbor or coworker who needs advice - please call or send me an email. There's no time to waste.

Haunted Houses in Arizona

The Nest Haunted House
Beware the return of Jacob Kell. 2009 will bring the return of The Nest, bigger, badder, bloodier. One of America's Best Haunts open's this September at CJS Film Studios, 103rd Ave and McDowell. Enjoy the monster midway with live music, food and lots of surprises. Then see if you can make it through The Nest and finally experience Carnevil Street. This is the largest attraction in the state and it is packed full of special effects and frightening actors.
http://www.Frightened.com

Nightfall - Harvest of Fear
Haunted House in 85735
Why visit a haunted house when you can you have a whole haunted town? The town of Nightfall beckons visitors with a full haunted experience including three all new live shows, haunted attractions, and hideous live characters.
http://www.nightfallaz.com

Buckelew Farm Terror in the Corn
Haunted House in Tucson AZ
Imagine finding yourself alone in a dark and foggy corn field in the middle of the night that has come to life with your worst nightmares. You will be put to the test and will be left gasping for air. See you there.
http://buckelewfarm.com

Arizona Scream Park
Haunted House in Scottsdale
Arizona's Original Scream Park consists of four haunted houses: Alice's House of Nightmares 3-D Fear Factory, Castle of Darkness and Goldminers Revenge.

AZ Field Of Screams
Haunted House in Glendale Arizona
Corn field planted over an old cemetary, dare to enter, watch out for the living dead.
http://www.azfieldofscreams.com

Cody's Death House
Haunted House in Cave Creek Arizona
Cody's Death House is the only Haunted House in Phoenix with a Budweiser Beer Garden! Beginning on October 15th the restaurant (built over an old Indian burial ground) is transformed into a house of pure terror. Some will come out changed forever, if they come out at all.
http://www.codysdeathhouse.com

Final Destination IV "The Haunted Mansion"
Haunted House in Chandler
A haunted house-style attraction that utilizes live actors, booming sound, professional lighting and special effects in a 45-minute long multi-room guided walk-through that confronts the attendee in every reality possible.
http://www.hell101.com/

Golfland Fright Nights
Haunted House in Mesa AZ
Last year Golfland opened its first haunted house to rave reviews. The Gauntlet had its victims running and screaming for their lives. In 2009, Golfland will unveil a whole new reign of terror on the valley of the sun. This October come and see why Golfland was voted one of the best haunted attractions in the valley. Check back soon for more information.
http://golfland-sunsplash.com/frightnights/main.html

Morbid Manor
Haunted House in 85310
8th Annual Charity Haunted House with 8000sq/ft of horrifying scenes! Enter if you dare! FREE ADMISSION!!! We gladly accept monetary donations which are 100% gifted to; The American Heart Association The Desert Southwest Alzheimers' Association The Arizona State Veterans' Home The Ryan McBride Memorial Music Fund
http://www.themorbidmanor.com

The ScareKrow
Haunted House in Glendale
12,500 feet of Fear.... Maze between Corn Fields and Torture chambers. Professional quality and effects. 15 years of Haunting makes The ScareKrow Very Popular..... Very Realistic and professional quality in every detail!
http://www.thescarekrow.com


The Charity Haunted House
Haunted House in Phoenix
Every year we collect for a different cause. Last year we collected for the Crisis Intervention Center of Scottsdale Police. This year we will be collecting for Andre House.
http://www.charityhauntedhouse09.bravehost.com


The Crypt Haunted Attractions
Haunted House in Chandler Arizona
The Crypt Haunted Attractions now features 2 haunted houses, THE CRYPT and THE ASYLUM all part of 2009 DOOMTOWN at RAWHIDE Wild Horse Pass. Located just off the I-10 and Wild Horse Pass Boulevard. Next to Firebird Raceway and Gila River Casino. For more info visit www.hauntedaz.com
http://www.hauntedaz.com

THE HAUNT
Haunted House in TEMPE AZ
"The Haunt" is returning for its 9th season of fun and terror. Arizona's scariest and most popular home haunt located in Tempe, Arizona is back with all new rooms and updates to past favorites.
http://WWW.THEHAUNTAZ.COM

The Haunt at Halloween Express
Haunted House in Phoenix Arizona
The Haunt at Halloween Express
http://www.halloweenexpressaz.com

The Haunted Hacienda
Haunted House in Casa Grande
The Haunted Hacienda of Casa Grande is a historic mystery. This story began in 1943 on one of the local farm not far from Casa Grande. An old man, his wife and his two kids had lived there for over 33 years. The old man fell behind on his mortgage and could no longer pay so the bank sought to sell the farm. The old farmer did something the entire town would never forget.
http://www.thehauntedhacienda.com

The Nightmare on Screamstreet
Haunted House in Arizona
Tucson Screamers Presents :: The Nightmare on Screamstreet! Tucson's scariest Haunted Attraction. 100% of the proceeds of the haunt will be going to local charities. The event will be open every weekend in October, and will be held at the Sports Park at Ina and I-10. See you there, if you dare!
http://www.tucsonscreamers.com

Act Now!

Low interest rates this year have lulled many people into believing that home loan rates in the 5.00% and lower range are "normal". This is not the case and if you are in the position where you could refinance or are considering buying a home, complacency is not your friend.

Stimulus provided by the Obama administration has been instrumental in creating the environment that has lowered rates, increased home sales and assisted distressed homeowners.

Uncle Sam Lends a Temporary Hand
Tick tock, tick tock. Just as summer turned to fall on September 22nd, deadlines await two programs that supplied the heat directed at the housing markets.

Government programs in the housing and interest rate arenas are slated to end in coming months. The time to take advantage of these programs is now. Stimulus programs from Washington have led to incentives for first time home buyers (FTHB), artificially low interest rates, and typically unallowable refinance transactions.

Infinite stimulus for the housing sector is not in the cards nor is it reasonable to expect. Deadlines are approaching. Whether you want to buy a home or need to refinance one, do not procrastinate. The best path is to investigate options now before you may find that none are available to you.

First Time Home buyer Alert
If you are a FTHB who wants to take advantage of the tax credit, think two words. GET BUSY. The tax credit of up to $8,000 is set to expire November 30th. While there is talk that this program may be extended, nothing is certain and millions of FTHBs have already taken advantage of the credit. With real estate closings taking as long as 60-90 days, according the National Association of Realtors, you need to get under contract shortly if you want to take advantage of the tax credit.

Home prices are down significantly across the country from their high points the past few years. However, median home prices in August were up 7.8% from their low point earlier this year. If you have been waiting for home prices to decline further, perhaps you should not. Great opportunities are available but many real estate agents report multiple contracts being offered on hot properties. If you wait, you may be disappointed.

Check with your mortgage professional to see if he or she can accommodate you if you go under contract in the next two weeks. Many lenders will still be able to help you but only if you have all your paperwork in order.

Rates Are Great – NOW!
Interest rates dipped in late September to near the lowest points ever recorded. As reported by Freddie Mac, rates for conforming loans approached 5.00% for a 30 year fixed rate and below 4.50% for a 15 year fixed rate with additional fees paid to obtain these rates. Rates for FHA, VA, and USDA Guaranteed loans typically offer slightly higher rates.

There is one reason that home loan rates are as low as they are. Last November the Federal Reserve announced a program to purchase up to $1.25 Trillion in mortgage backed securities. This effort lowered rates to the lowest level of all time and has kept rates, according to Freddie Mac, below 5.50% this year compared to rates as high as 6.48% last year for a 30 year fixed rate.

This program was slated to end December 31st of this year but in September's Federal Open Market Committee meeting, it was announced that the program will be extended to the end of the first quarter of 2010. However, the amount the Fed will purchase will not change.

Peter Hooper, chief economist at Deutsche Bank, told Bloomberg that a sudden end to the Fed purchases could cause rates to rise by a half to one percentage point. If you delay your financing, you could well see rates that are significantly higher than what is available today.

Upside Down – Refinance to 125% of Value
Even if you owe up to 125% more on your mortgage than your home is worth, you may be able to refinance. For example, if your home is worth $200,000 but you owe more than that, qualifying homeowners can now refinance up to $250,000.

The Making Home Affordable program was initially structured to accommodate homeowners with a new loan to 105% of their home's value. This has recently been increased to 125%. There are requirements to qualify including whether your loan is currently owned by either Fannie Mae or Freddie Mac. You can find out if your loan is held by either agency by going to the Loan Lookup section of the Making Home Affordable web site.

According to First American Core Logic, more than 15.2 million homes had negative equity in June of this year. This represents nearly 33% of all mortgaged properties across the country. Where in the past, being upside down on your loan would have precluded your ability to seek relief, you now may have an opportunity.

What Now?
With incredibly low interest rates and current stimulus programs available to help many, explore the options that may best suit you but do so quickly. However, just as you wouldn't go out Trick or Treating on November 1st, options that exist today may not be available to you should you wait.

Contact your mortgage professional today to explore the best path to take. You may find that the best "treat" available is one that puts thousands of dollars in your pocket.

August Home Sales Report: Numbers Paint Picture of Market

In just recently released numbers, sales of existing homes rose in August for the fifth consecutive month, adding support as the real estate market continues to try and rebound.

The report indicated a rise in home sale of 0.7% from August 2008 to August 2009 and while this number was less than gains in recent months, it was still an encouraging sign as we transition from the summer into the fall and head near the end of the current version of the home buyer tax credit.

However, the more interesting information in the latest report is the geographic split in the numbers. With the West providing much of the positive in the report and far outpacing other parts of the country in sales. As home sales rose 12% in the West in August.

In addition, the report shows that new and existing home inventories continue to drop, which is a good sign for the market. And that 93.3% of all sales were existing homes, which should continue to help inventories.

Also, in looking at the numbers, the report shows us that currently there is only a 3 month supply of housing on homes between $100,000 and $250,000 in the West. That is perhaps the most encouraging sign that lower end home prices are moving and should provide support in the market from the bottom up and perhaps eventually lead to a recovery.

As always we will provide updates and additional analysis as it comes. However, the latest home sales report definitely provides information that provides positive information on a national basis and even more so for housing in the West.


Need additional information? Give us a call 480-889-1424 or an e-mail: MyAzHomeTeam@aol.com