New Borrego Listing in Aviano
Normally when you see $205,500 for a sale price on a Villages condominium you think lender owned or a short sale. Not so for unit 1013, a Piatto model in building 1. This would be a normal sale on the market for 199 days with an original list price of $284,900. 1490 sq ft with 2 bedrooms, 2.5 baths and a 2 car garage. A close cousin to the Arrezo model on the end of each of the buildings, the models are distinguished by a different type of stairway and that is about it. 3 levels. Building Layout Map
MLS is a computerized database and when you enter a listing, you also enter in a number of dates associated with that listing. Sometimes it just closes on it's own. The short sale Cassero model at 22424 North 37th Run did not close for $375K and is instead back on the market with a status of AWC-C. This means the sale is contingent on the buyer selling their home which is a status that you don't see very much these days. So the listing price is $400K for 3284 sq ft with 3 bedrooms, 2.5 baths, pool, spa and 3 car garage. The bank owned Cassero model at 3981 East Hummingbird Lane is pending with the last list price at $379,900. Lets hope the home on 37th Run can do better than that as it has many nice upgrades including real wood floors, fabulous tile work in the master and a couple of well placed solar tube lights in the bathrooms. Always good to have abundant light and good air flow in bathrooms.
Map Bird view
There is a new short sale listing for a Borrego model at 3643 East Louise Drive priced at $399K. 3130 sq ft for 4 bedrooms, 3 baths, a pool and split 3 car garage. Borrego models are part of the Palo Verde Collection which includes Blanca and Mirasol models as 2 story and the Tarragona model as the single story. Blanca, Borrego and Mirasol models all had the option of a basement offered by Toll Brothers; the Tarragona did not. This Borrego at 3643 East Louise Drive looks to have the spiral staircase from the first floor master to the second floor study. Backyard has a nice sized pool with water features and a built-in bbq. Stainless appliances in the kitchen with a gas cooktop and the family room has the full 2 story open area. The kitchen also has the extended countertop and lower cabinetry to the back wall of the home. The home has a contemporary elevation - you can always tell by the lights on the side of the garage entrance and the roof tiles which are flat. Stacked stone around the fireplace but not to the ceiling and nice tile work on the master tub surrounds and shower with slab granite on the counter.
Bird view Bird view 2
Here is the latest from Stuart Crawford who always has an insightful take on mortgages and the factors that influence rates:
Mortgage markets had one of the quietest weeks of the year last week, as there were no major developments in Japan or the Middle East, and little economic data on the schedule. The only significant market moving news was an unexpected announcement from the Treasury on Monday, which pushed mortgage rates a little higher. For the rest of the week, mortgage rates barely changed.
The Treasury announced last Monday that it will begin selling its remaining $142 billion in agency-guaranteed mortgage-backed securities (MBS) holdings. Beginning this month, the Treasury plans to sell up to $10 billion per month, as they wind down the emergency programs put in place in 2008 during the financial crisis (remember, these programs are how the government has assisted in keeping interest rates low). The expected increase in future supply pushed MBS prices lower. Mortgage rates, which are largely based on MBS prices, moved higher as a result. The big question now is what the Federal Reserve plans to do with its larger $944 billion MBS portfolio. A similar announcement from the Fed would have a much larger negative effect on mortgage rates, so it will be interesting to see what they plan to do with this portfolio.
The housing sector data released last week was weaker than expected. February Existing Home Sales fell 10% from January. The inventory of unsold existing homes rose to an 8.6-month supply from a 7.5-month supply in January. Distressed sales accounted for 39% of all sales. Median existing home prices dropped 5% to the lowest level since April 2002.
February New Home Sales fell 17%. As a result of price declines and continued low mortgage rates, home affordability is at the most favorable level in years, according to data from both the NAR and the NAHB.
The biggest economic event this week will be the important Employment report on Friday.
As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month, which can always have a significant impact on mortgage rates. Early estimates are for a gain of 170,000 jobs in March.
Please let me know if you have any questions, and let me know if there is anything I can do for you or your valued clients.
Thank you for your continued support, have a productive week.
Sincerely,
Stuart M Crawford
Branch Manager
Senior Mortgage Banker
The Crawford Team
V.I.P. Mortgage, Inc.
8722 E San Alberto Dr, Ste 100
Scottsdale, AZ 85258
Phone: 480-776-2954
scrawford@vipmtginc.com
And lastly, the latest salvo of bad news about falling home prices, double dip, etc. Remember that Aviano is now considered a stable market according to an appraisal I saw yesterday on a home here. So yes there are areas of Phoenix that are a mess but the demand for Aviano and Fireside and Desert Ridge in general is very strong. Just ask the poor folks trying to buy a home here. It is not easy due to the type of sale and the number of buyers. Here is the article and thanks to neighbor Sam for passing it along.
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.
MLS is a computerized database and when you enter a listing, you also enter in a number of dates associated with that listing. Sometimes it just closes on it's own. The short sale Cassero model at 22424 North 37th Run did not close for $375K and is instead back on the market with a status of AWC-C. This means the sale is contingent on the buyer selling their home which is a status that you don't see very much these days. So the listing price is $400K for 3284 sq ft with 3 bedrooms, 2.5 baths, pool, spa and 3 car garage. The bank owned Cassero model at 3981 East Hummingbird Lane is pending with the last list price at $379,900. Lets hope the home on 37th Run can do better than that as it has many nice upgrades including real wood floors, fabulous tile work in the master and a couple of well placed solar tube lights in the bathrooms. Always good to have abundant light and good air flow in bathrooms. Map Bird view
There is a new short sale listing for a Borrego model at 3643 East Louise Drive priced at $399K. 3130 sq ft for 4 bedrooms, 3 baths, a pool and split 3 car garage. Borrego models are part of the Palo Verde Collection which includes Blanca and Mirasol models as 2 story and the Tarragona model as the single story. Blanca, Borrego and Mirasol models all had the option of a basement offered by Toll Brothers; the Tarragona did not. This Borrego at 3643 East Louise Drive looks to have the spiral staircase from the first floor master to the second floor study. Backyard has a nice sized pool with water features and a built-in bbq. Stainless appliances in the kitchen with a gas cooktop and the family room has the full 2 story open area. The kitchen also has the extended countertop and lower cabinetry to the back wall of the home. The home has a contemporary elevation - you can always tell by the lights on the side of the garage entrance and the roof tiles which are flat. Stacked stone around the fireplace but not to the ceiling and nice tile work on the master tub surrounds and shower with slab granite on the counter.
Bird view Bird view 2
Here is the latest from Stuart Crawford who always has an insightful take on mortgages and the factors that influence rates:
Mortgage markets had one of the quietest weeks of the year last week, as there were no major developments in Japan or the Middle East, and little economic data on the schedule. The only significant market moving news was an unexpected announcement from the Treasury on Monday, which pushed mortgage rates a little higher. For the rest of the week, mortgage rates barely changed.
The Treasury announced last Monday that it will begin selling its remaining $142 billion in agency-guaranteed mortgage-backed securities (MBS) holdings. Beginning this month, the Treasury plans to sell up to $10 billion per month, as they wind down the emergency programs put in place in 2008 during the financial crisis (remember, these programs are how the government has assisted in keeping interest rates low). The expected increase in future supply pushed MBS prices lower. Mortgage rates, which are largely based on MBS prices, moved higher as a result. The big question now is what the Federal Reserve plans to do with its larger $944 billion MBS portfolio. A similar announcement from the Fed would have a much larger negative effect on mortgage rates, so it will be interesting to see what they plan to do with this portfolio.
The housing sector data released last week was weaker than expected. February Existing Home Sales fell 10% from January. The inventory of unsold existing homes rose to an 8.6-month supply from a 7.5-month supply in January. Distressed sales accounted for 39% of all sales. Median existing home prices dropped 5% to the lowest level since April 2002.
February New Home Sales fell 17%. As a result of price declines and continued low mortgage rates, home affordability is at the most favorable level in years, according to data from both the NAR and the NAHB.
The biggest economic event this week will be the important Employment report on Friday.
As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month, which can always have a significant impact on mortgage rates. Early estimates are for a gain of 170,000 jobs in March.
Please let me know if you have any questions, and let me know if there is anything I can do for you or your valued clients.
Thank you for your continued support, have a productive week.
Sincerely,
Stuart M Crawford
Branch Manager
Senior Mortgage Banker
The Crawford Team
V.I.P. Mortgage, Inc.
8722 E San Alberto Dr, Ste 100
Scottsdale, AZ 85258
Phone: 480-776-2954
scrawford@vipmtginc.com
And lastly, the latest salvo of bad news about falling home prices, double dip, etc. Remember that Aviano is now considered a stable market according to an appraisal I saw yesterday on a home here. So yes there are areas of Phoenix that are a mess but the demand for Aviano and Fireside and Desert Ridge in general is very strong. Just ask the poor folks trying to buy a home here. It is not easy due to the type of sale and the number of buyers. Here is the article and thanks to neighbor Sam for passing it along.
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.
