Prescott Arizona Area Foreclosure News

25 new foreclosed or short sale homes came on the market during the week of September 20-27, down slightly from the previous week’s 33. These made up about one in every 2.8 homes being listed in the Prescott Arizona Area MLS system.
There were 45 traditional listings that came on the market  last week at an average [...]

Prescott ranks in top seven trail running town in US according to TrailRunner magazine this month #

33 new foreclosed or short sale homes came on the market during the week of September 13-19, down slightly from the previous week’s 35. These made up about one in every 1.5 homes being listed in the Prescott Arizona Area MLS system.
There were 58 traditional listings that came on the market  last week at an [...]

A new survey shows that commercial real estate investors are looking for a continued deterioration of the fundamentals the commercial real estate market a through the rest of 2009 and 2010  as investors continue to wait for better values, a new survey shows.
According to the new PricewaterhouseCoopers (PwC) Korpacz Real Estate Investors Survey,  are looking for near-term [...]

State magistrates met last week to discuss strategies for combatting mortgage fraud and the topic of payment option ARMs was a central theme.  
 In Arizona – one of the states hardest hit by the mortgage crisis – 128,000 option ARMs will reset in the next year, State Attorney General Terry Goddard told Reuters. The San Francisco-based [...]

I was told by my main loan officer not to write any more 30 day closes as he needs at least 45 days now with new loan regulations. PITA #
I was dismayed to see that 4 Marines and a Navy Corpsman died fighting in Afghanistan last week..God bless their families and dependents #

See this press release from yesterday:
FHA ANNOUNCES CREDIT POLICY CHANGES, ADDING CHIEF RISK OFFICER
Policy Changes Will Reduce Risk As Officials Anticipate Annual Actuarial Study to Show Capital Reserve Ratio Dropping Below Congressionally-Mandated 2 percent
WASHINGTON, DC – Federal Housing Administration (FHA) Commissioner David H. Stevens today announced plans to implement a set of credit policy changes [...]