Borrego Models Aplenty
The short sale Borrego model at 3974 East Hashknife Road just closed for $426K or $132 for each of the 3216 sq ft. Built in 2004 it has 5 bedrooms, 4 baths, pool, spa and 3 car garage. Gas cooktop, SS appliances, slab granite counters, upgraded stair railing and lots of clean tile flooring on the first floor. Listed for sale 4.7.11, under contract 4.9.11 and closed 8.15.11. A pretty efficient short sale. Conventional loan so it appraised. Sold by Toll 8.31.04 for $480K and resold 3.30.07 for $809K. Welcome to our new neighbors. Floorplan
The normal sale Borrego one street north at 3976 East Scout Pass has been taken Temporarily Off Market. Priced at 3400 sq ft it has 4 bedrooms, 3.5 baths, pool, spa and 3 car split garage. Listed on 7.5.11, it was built in 2004.
The Borrego model for lease right down the street from the other two at 22912 North 39th Terrace just closed for $3200 a month unfurnished. 3011 sq ft with 4 bedrooms, 3.5 baths, pool, spa and 3 car split garage. 
The short sale Savino at 3921 East Patrick Lane was back on the market 7:28 PM 8.13.11 and by noon 8.14 they had multiple offers. Now it is back to AWC-I status where it was for almost 500 days on a previous listing. All fingers and toes crossed they get it done. 4747 sq ft with a basement and pool, 6 bedrooms, 5.5 baths and a 3 car garage.
Here is an update from Stuart Crawford at VIP Mortgage:
"Last week was one of the most volatile markets we have ever seen, with important economic news being released every day, producing major reactions in the financial markets. Investor uncertainty is extremely high, amplifying the price movements. As stock prices fluctuated wildly, so did mortgage rates, which reached new lows for the year.
Into this highly charged environment, a steady flow of significant economic news added fuel to the flames. It began with the announcement that S&P downgraded the credit rating of US debt.
Then the Fed shocked investors with its statement (see below). A scare ran through financial markets that European banks, particularly in France, were at risk of failing, but these fears abated quickly. Investors were comforted by very strong demand for the 3-year and 10-year Treasury auctions, and then were taken aback by extremely poor results for the 30-year auction. It is not surprising that many financial markets set volatility records last week.
The biggest surprise in Tuesday's FOMC (Federal Open Market Committee) statement was that the Fed currently anticipates that economic conditions will call for the fed funds rate to remain exceptionally low through at least the middle of 2013. This means that the Fed doesn't expect to raise rates for at least two more years. Three Fed officials voted against this change in language. The Fed also downgraded its forecast for economic growth, saying that it will be "considerably slower" than previously expected at the last FOMC meeting on June 22nd. Slower economic growth with few signs of higher inflation will make it more difficult for the labor market to recover, but it is a favorable environment for mortgage rates.
The most significant economic data this week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Wednesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. CPI looks at the price change for those finished goods which are sold to consumers.
In addition, Industrial Production, an important indicator of economic growth, will come out on Tuesday, along with Housing Starts. Existing Home Sales will be released on Thursday.
We are in unchartered waters, and it is important that you are aligning yourself with a lending professional who understands these markets and can coach and educate our clients accordingly."
You can reach Stuart at 480-776-2954 or scrawford@vipmtginc.com
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale,foreclosure,fireside at desert ridge,Toll Brothers,pulte del web,bella monte. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Proud to wake up, live and work in the great State of Arizona. Contact me at 480.330.0735 or doug0735@gmail.com
