Brady Holland
Senior Mortgage Banker
V.I.P. Mortgage, Inc. 8414 N. 90th St. | Suite 102 Scottsdale, AZ 85258
Arizona Homeowner July | August 2011
RETURN SERVICE REQUESTED
Real estate financing can be a daunting task. And that is especially true in today’s world where lenders are more cautious about lending due to economic uncertainty. I understand that choosing a mortgage is one the biggest decisions that you will make. You want the best interest rate and you want the pre-approval, application, and close of escrow process to be hassle-free. I understand. I listen to your needs. And I respond quickly and deliver. Let me put my nearly two decades of residential lending experience to work for you! • The needs of every client are different. I specialize in tailoring a loan and financing strategy that will best fit the individual needs of each client. • Have you ever closed on a mortgage and later had remorse that you may have picked the wrong loan program or paid too much in fees? I offer a benefit analysis on every loan to ensure that the loan program and the associated costs are the best fit and in the best interest of the client. • I use the latest lending technology to deliver a loan credit decision in hours, not days. • Closing thousands of loans over the course of my career assures you that as an industry veteran I have the knowledge and expertise to handle every situation. • My impeccable reputation is my best asset. I always strive to exceed your expectations and earn your business for life!
Call me today!
HOME MARKET TRENDS How do sales figures and inventory levels compare to this time last year? You’ll see that 2011 has brought more home sales than 2010 AND a shrinking inventory. Supply and Demand is working in our favor to help stabilize our real estate market:
YEARLY MARKET COMPARISON (Source: ARMLS) NUMBER OF NEW LISTINGS
YTD Total
2010 61,615
NUMBER OF SOLD LISTINGS
YTD Total
2010 36,609
2011 53,199
Difference -8,416
Change -13.7%
2011 39,512
Difference 2,903
Change 7.3%
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NUMBER OF SINGLE-FAMILY AND PATIO HOMES CURRENTLY FOR SALE
2010 2011 Difference Change (on June 21st) 35,897 18,264 -17,633 -49.1% What about pricing? When you compare the last 30 days of sales vs. the first month of the year, you’ll see that the average sales price is higher. Also of interest, the actual sales price vs. the original listing price is improving, indicating that buyers are paying closer to asking price than earlier this year.
PRICING STATISTICS (Source: ARMLS) DATE RANGE May 15, 2011 – June 15, 2011 Jan. 1, 2011 – Jan. 31, 2011
AVERAGE SOLD PRICE $173,912 $168,585
SOLD PRICE/ORIGINAL LIST PRICE 87.56% 86.60%
Information is deemed reliable, but not guaranteed.
MORTGAGE RATES Brady Holland
Senior Mortgage Banker NMLS 180079
Office: 480.278.8993 Cell: 480.272.3282 E-Fax: 480.223.4290 BHolland@VIPMtgInc.com
As of 6/22/11
Loan Rates for $150K-$417K: • 30 Year Fixed: 4.625%/4.736% • 15 Year Fixed: 3.875%/4.060% • 5/1 ARM: 3.625%/3.727%
Loan Rates for $418K-$1.5M: • 30 Year Fixed: 5%/5.055% • 5/1 ARM: 3.5%/3.219% • 7/1 ARM: 3.875%/3.455%
*Note: All rate quotes offered at 0% points for primary home purchase or no cash-out refinance financing with 720+ FICO score. Loans under $417K are quoted based on 20% equity while loans over $417K require 20%-30% equity. Other financing options are available upon request. All rates quoted are subject to change without notice. NMLS 145502 AZ BK#0909074
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