Mesa Homes for Sale AZ
Nearly 1M Loan Modifications So Far in 2010
Nearly 1M Loan Modifications Means Nearly 1M Fewer Foreclosures!
Our much maligned Lending Industry is finally rewriting loan terms to head off foreclosures rather than just being concerned about selling foreclosures the lenders were forced to take back. This will have the effect of stabilizing neighborhoods, communities, home values and our economy.
HOPE NOW Reports Close to One Million Permanent Loan Modifications Completed in 2010
975,000 permanent loan modifications have been completed so far in 2010 and that is 975,000 fewer foreclosures we avoided.
More than 174,000 Loan Modifications finalized in the month of June reflects an increase in the rate of loan modifications as Lenders become more proficient in processing loan modifications.
From January 2010 through June 2010, about 78% of mortgage servicers’ proprietary loan modifications included principal and interest reductions. These are real modifications that make homes affordable in this economy where so many are unemployed or worse – underemployed and underpaid.
In June, the industry completed about 123,000 proprietary loan modifications ~ a 10% increase from the previous month while another 51,205 HAMP Modifications were completed.
Since June 2007, nearly 3.4 million homeowners have saved their homes via permanent loan modifications.
Other June 2010 highlights:
- Foreclosure Starts decreased from 205,479 in May to 191,764 in June, a decrease of 7%.
- Complete Foreclosure Sales decreased from 98,963 in May to 90,350 in June, a decrease of 9%.
- Proprietary loan modifications completed increased from 112,088 in May to 123,150 in June, an increase of 10%.
- Principal and interest reduction modifications completed increased from 86,908 in May to 98,336 in June, an increase of 13%.
- Other retention plans completed increased from 74,004 in May to 83,222 in June, an increase of 12%.
While these statistics show progress is being made in avoiding Phoenix foreclosures AZ, the expiration of the Bush Tax Cuts at the end of 2010 is going to make it more difficult for people to pay for basic expenses and will slow job growth.
Contact your Congressmen and demand they extend Tax Cuts until our economy is back on track and growing again!
Arizona School Achievement Results Posted
TOUGHER AIMS TEST STANDARDS CAUSE DROP IN ARIZONA SCHOOL ACHIEVEMENT LEVELS
All Arizona school districts are seeing lower school achievement levels as a result of tougher test standards. Chandler, Gilbert and Mesa school districts are among the most successful and even they have seen schools achievement levels downgraded.
Check out the achievement level of your local Arizona schools in Maricopa and Pinal Counties with “Excelling” as the highest school achievement level followed by “Highly Performing”, “Performing Plus”, “Performing”, “Under Performing” down to the lowest level of “Failed to Meet Academic Standards”.
Chandler homes, Gilbert homes and Mesa homes located in excelling Chandler, Gilbert and Mesa school districts are in high demand and buyers with school age children are willing to pay more to send them to top rated schools. They know a good education is extremely important to the future success of their children and the well being of our communities. Everyone needs to support our local Arizona schools!
CHANDLER, ARIZONA
Chandler School District 2008 – 2009 School Year had 27 Excelling and 5 Highly Performing Chandler schools.
Chandler School District 2009 – 2010 School Year has 23 Excelling and 8 Highly Performing Chandler schools.
GILBERT, ARIZONA
Gilbert School District 2008 – 2009 School Year had 33 Excelling and 6 Highly Performing Gilbert schools.
Gilbert School District 2009 – 2010 School Year has 17 Excelling and 12 Highly Performing Gilbert schools.
MESA, ARIZONA
Mesa School District 2008 – 2009 School Year had 28 Excelling and 18 Highly Performing Mesa schools.
Mesa School District 2009 – 2010 School Year has 21 Excelling and 21 Highly Performing Mesa schools.
Support our Chandler Schools, Gilbert Schools and Mesa Schools
Sam Elam, Associate Broker with Prudential Arizona Properties, (480) 213-1799 has 20 years of experience and in-depth Phoenix real estate market knowledge to help buyers find Chandler homes, Gilbert homes AZ and Mesa homes for sale AZ served by top rated schools!
Metro Phoenix Real Estate Market Is Looking Up!
June 2010 results are now available for homes in Phoenix for sale and closed sales. As compared to May 2010, the average sales price of Single Family Detached homes is up 10% to $203,417, median sales price is up 6%, days on market are down 3% to 79 days and homes are selling for 98% of list!
The number of sales and the average sales price of homes in Scottsdale and Mesa homes for sale AZ are up and the number of days on market to sell are down as compared to a year ago June 2009 and as compared to a month ago May 2010! Even more impressive — these STATS apply to both detached and attached property types in both communities!
Also on the honor roll of high performing real estate markets are Phoenix, Tempe, Gilbert and Chandler homes for sale AZ – all reporting the average Single Family home sales price is also up!
In spite of the end to the First Time and Long Time home buyers Tax Credit, buyer demand remains strong with the number of sales exceeding sales during May 2010 – keeping the available inventory of homes for sale low.
Mortgage rates are under 5% and prices are 50% below where they were at the peak in 2006. Fence sitters are going to miss out on a terrific home buying opportunity if they continue to wait. The Phoenix real estate market bottomed out last spring. High buyer demand and low inventory levels are going to push prices higher than they are now. Don’t miss out!
For all the details about the real estate market in your favorite area, go to Phoenix real estate market conditions.
Sam Elam, Associate Broker, ABR, CRS, GRI, e-PRO, SFR, Prudential Arizona Properties (480) 213-1799