Arizona Homeowner December / 2009
Inventive Home Lending 1400 E. Southern Avenue, Suite 615 Tempe, Arizona 85282 RETURN SERVICE REQUESTED
The financing of your real estate can be a daunting task. You want the best interest rate and you want the pre-approval, application and close of escrow processes to be hassle-free. I understand. I listen. I respond quickly. • I specialize in custom-designing a specific loan for each individual client. With over 400 loan programs at my fingertips, you will get a mortgage that best fits your unique situation. • I use the latest technology in loan underwriting. You’ll receive a loan decision within hours. Don’t wait days to find out if you qualify for the home you really want! • Closing thousands of loans and working with thousands of borrowers assures you that I have the knowledge and expertise to handle any situation. • My impeccable reputation is my best asset. I always strive to exceed your expectations! CALL ME TODAY!
holidays in arizona Happy Holidays! This year seems to have flown by. I can’t believe 2010 is around the corner. 2009 has been quite a year for the economy and the housing industry. While unemployment has been on the rise, the housing market in our area has actually seen quite a resurgence thanks to low interest rates and home prices, and tax incentives. For many, it has been a year that ended much better than it started. As we close out 2009, the housing data projections indicate that we should finish with over 90,000 homes sold in our area for the year. That’s an incredible number. To put that number in perspective, 90,000+ sales equate to our third best year ever. It is truly amazing to see that type of growth in a year when the economy was in the grips of a recession. With the housing demand, we’ve seen home values stabilize in many areas. The median home price in greater Phoenix
rose by 12.5% over the past 6-7 months. Since so much of our local economy is based on home sales, our state has benefited from home sales growth more than others. And as these positive trends continue we should also see an improvement in employment opportunities in the coming year. On the mortgage front, President Obama has signed the first-time homebuyer tax credit extension into law. This will keep the current tax credit at up to $8K and there is now an option that gives repeat homebuyers a tax credit of up to $6,500. To qualify, homebuyers must be under contract on a primary home by April 30th and close by June 30th. Full details of the tax credit extension have not been released as of this writing. However, we will be updating you on the specifics in the January issue of this newsletter.
I’d like to wish all of you a Happy Holiday season! I appreciate your business, questions, and comments. And I look forward to assisting you with your mortgage needs in 2010!
HELP FOR HOMEOWNERS
• Mortgage rates are at a 50-year low. Almost everyone can benefit by either buying a new home or refinancing to a low fixed rate. Call now for a free review of your options. • First-time homebuyers are eligible for up to an $8K tax credit for buying and closing on a home by 6/30/10 (Just extended!) • If you have a Fannie Mae, Freddie Mac, FHA or VA loan, you may be eligible for refinancing even if your owe more on your loan than your home is worth. (Call us to determine if you are eligible.)
Brady Holland President 480.627.2423 bradyh@ihlending.com www.ihlending.com
MORTGAGE RATES AS OF 10/10/09 LOAN RATES FOR $150K-$417K
30-Year Fixed at 5.000%/5.305% APR 15-Year Fixed at 4.500%/4.879% APR 5/1 ARM at 3.875%/4.233% APR
LOAN RATES FOR $418K-$1.5M
5/1 ARM at 4.375%/4.672% APR 7/1 ARM at 4.750%/5.099% APR
*Note: Quotes assume primary home financing with 720+ fico score on a single-family property with 20%-30% equity. All quotes offered at 1% origination fee. Certain restrictions apply.
MB0905347
Produced by Desert Lifestyle Publishing • 480.460.0996
How Desert Dwellers Celebrate
hot interior design trend Wallpaper is Back!
a party for your palate
Avanti’s Famous Tiramisu