The most recent news in the last 2 weeks in Phoenix now finds Buyers pitted against each other, and against the savvy local investors, in a bidding war for properties in Phoenix.

Real Estate has dropped so low in Phoenix in some areas, that the $125k to $175k price range is now actually deluged with multiple offers.

Realtors are beginning to ask, "Is this the end of the downturn?" as they are losing out to other competing Realtors down the street and having to become aggressive again in their advice to, and bids on behalf of their clients.

Keep your eyes open and ears tuned in for the "psychological turn" that's coming soon.  Phoenix has always grown, and as the purchasing picks up, values will once again rise quickly off the bottom.

Thanks to FHA and $0 Down Ameridream Down Payment Gift Assistance, owner occupants can still enjoy the 0 down benefits of a great 30 year fixed, low rate guaranteed by FHA.

If you're interested in not missing the bottom, consider preparing quickly with your finance options, so you'll be prepared when you see the first Arizona Republic Headlines soon say, "PRICES RISING FOR FIRST TIME IN 2 YEARS".

Andrew Schmidt, Nations Home Funding BK0905991

ACSchmidt4@aol.com 602.371.8600

Zero Down Loans (Yes, $0 Down) are still happening in the Phoenix area for owner occupied purchases, up to $365,000 sales price.

Due to the repeated requests for information on this topic, I will provide a Re-Print of the March's FHA 0 Down Ameridream Article.

Next week we will follow up with an article on How to Receive $20,000 Per Year- Through FHA Puchase- To Pay For Your New Mortgage

Here's the Re-Print of Last Month's Article

March 7, 2008

I want to update you on TODAY'S MAJOR ARIZONA MARKET CHANGE with FHA owner occupied purchases.  It will affect our economy and home values almost immediately.

                          AS OF TODAY:

                          $356,500 max purchase price

                          Max loan size- $346,250

                          Maricopa County                                

This news is revolutionary, and will begin turning the Phoenix market around with the supply and demand imbalances as FHA now allows first-time AND non-first time home buyers to purchase about 70% of the available Phoenix market's inventory of homes with HIGH QUALITY, LOW RISK FHA loan terms.

      5 Facts about FHA Loans to remember:

    1)  The COST PER THOUSAND with ZERO DOWN FHA is about $7.25 per $1,000.

    2)  ZERO DOWN ALLOWED!

    3)  FHA still allows DPA, or Down Payment Assistance, which means that AmeriDream and other DPA organizations are still ALLOWING ALL DOWN PAYMENT AND CLOSING COSTS TO BE PAID BY THEM, AND CONTRIBUTED BY THE SELLER OF THE HOME.

    4)  This means that ALL EARNEST MONIES CAN BE RETURNED TO BORROWER AT CLOSING.

    5)  NO CREDIT SCORE REQUIREMENT BY FHA- Low scores not a reason to be denied qualification.

    (HUD approval and credit approval required.)

Andrew Schmidt, Nations Home Funding, Inc. ACSchmidt4@aol.com        BK0905991

Coming up at the Arizona State Fairgrounds at 1826 W. McDowell, the Show is happening April 25th,26th & 27th.  Over 1100 exhibits and lots of seminars.  10 AM to 7 PM on Friday and Saturday, 10 AM to 6 PM on Sunday.

get more info online

Formerly contactdesign, Phoenix Contemporary Design Fair (PCDF) is hosting the third annual modern design showcase at The Icehouse in downtown Phoenix April 19th and 20th, 2008. This is a unique event putting design enthusiasts in touch with actual furniture makers, designers and innovators who lead the way in modern design.  The purpose of this event is to bring residents and resources together. Many Phoenicians are interested in modern design and have trouble finding reliable resources for their own homes. The popularity of loft living, modern homes and renovated historic homes has risen and now these unique homeowners can find everything they need to decorate, renovate and design, right in one place at the Phoenix Contemporary Design Fair! PCDF invites guests to connect with and meet members of the design industry. Vendors expected to be exhibiting include furniture designers, interior designers, architects, home décor brands and other unique businesses related to modern living. This event will feature exclusive living displays by world-renowned designers.

The Icehouse is located at 429 W Jackson St in Downtown Phoenix.  The hours are 10 AM to 5 PM both Saturday the 19th and Sunday the 20th.  The event is open to the Public and Admission is Free.

PCDF Site

The Icehouse site

Haus Modern Living has moved from the Biltmore to a new location near Central & Camelback.  Stop by tonight between 6 and 9 for their

Night for Life

2008 Raffle Kickoff Party 

Sponsored by Kontakt Magazine

FHA is continuing to be the front-runner in low-down purchase loans in the country, with Phoenix picking up its share of users of the friendly product.

With ZERO DOWN loans up to $355,407 in Maricopa County, through the Ameridream program and other DPAs, or down payment assistance programs, 70% of the homes that sell in Phoenix fit into the favorable FHA guidelines and limits.

If you are looking at purchasing a home, do not forget to remember (did that make sense?) the FHA 'Old Friend that still works through market changes and conventional loan turmoil.

One other tip to remember is that you can purchase 2 plex, 3 plex or 4 plex with FHA with most of your payment being paid by other tenants, and even receive some CASH FLOW for your personal residence!

I hope you consider FHA when purchasing your next home.  Blessings to you and if I can be of help, do call me.

Andrew Schmidt Nations Home Funding BK0905991 602.371.8600 ACSchmidt4@aol.com

There are some great purchase opportunities right now in the Coronado Historic District including the 3 fixer properties pictured here, ranging in price from $119,900 to $179,900. 

If you are thinking about attending the Coronado Historic District Home Tour this Sunday and would like to know what might be on the market right now, call me or send me an e-mail and I can e-mail you available properties.  Everything from fixers to beautifully renovated homes are currently available and there is some fantastic financing out there right now.

We're coming into the traditionally active spring home-buying/selling season and if you have been reading the papers, existing-home sales have been picking up the last few months. 

The Coronado Historic District is a very diverse neighborhood with a very well organized Neighborhood Association.  Try it, you'll like it!

Hope to hear from you.  Lyle Plocher, Urban Connection Realty, 602 373 3725 or lyle@urbanconnectionrealty.com

This is a major show involving both indoor and outdoor living features, products, etc.  Also, some Celebrities from HGTV, TLC & PBS.  Friday the 28th thru Sunday the 30th at the Phoenix Convention Center.

Complete details online

The news from Lake Woebegone is not very tumultuous.  Fixed rates near 5.875% and the Libor trending to the low 2% range, just about where it was before our last Real Estate Boom in 2003.

If you are considering a Real Estate purchase, do compare Fixed vs. the Libor, since a $200-$500 monthly cash flow difference can mean a lot more in principle reduction, and quicker payoff for your real estate.

My apology for a not-so-exciting weekly report, but I personally am enjoying the soon 4.5% rate I will be enjoying on my own mortgage.

I want to update you on TODAY'S MAJOR ARIZONA MARKET CHANGE with FHA owner occupied purchases.  It will affect our economy and home values almost immediately.

                          AS OF TODAY:

                          $356,500 max purchase price

                          Max loan size- $346,250

                          Maricopa County                                

This news is revolutionary, and will begin turning the Phoenix market around with the supply and demand imbalances as FHA now allows first-time AND non-first time home buyers to purchase about 70% of the available Phoenix market's inventory of homes with HIGH QUALITY, LOW RISK FHA loan terms.

      5 Facts about FHA Loans to remember:

    1)  The COST PER THOUSAND with ZERO DOWN FHA is about $7.25 per $1,000.

    2)  ZERO DOWN ALLOWED!

    3)  FHA still allows DPA, or Down Payment Assistance, which means that AmeriDream and other DPA organizations are still ALLOWING ALL DOWN PAYMENT AND CLOSING COSTS TO BE PAID BY THEM, AND CONTRIBUTED BY THE SELLER OF THE HOME.

    4)  This means that ALL EARNEST MONIES CAN BE RETURNED TO BORROWER AT CLOSING.

    5)  NO CREDIT SCORE REQUIREMENT BY FHA- Low scores not a reason to be denied qualification.

    (HUD approval and credit approval required.)

Andrew Schmidt, Nations Home Funding, Inc. ACSchmidt4@aol.com        BK0905991