JUST LISTED!

377 S Prospectors Rd, Apache Junction, AZ 85219

$649,000 - 3 Bedrooms + Den / 2.5 Baths

MLS: 3006800

Gorgeous custom home on a fully landscaped 1-Acre lot. Located at the base of the Superstition Mountains, this home boasts incredible mountain views & stunning city lights. Many features include 10' ceilings, fireplace, hydraulic toilets, solar hot water heater, multi-pane windows, pine doors & more. The kitchen features hickory cabinets, breakfast bar & stainless steel appliances. Retreat into the Master suite, complete with wood floors, coffered ceilings, huge walk-in closet & a private escape to an amazing oasis out back. Pebbletec salt water pool with waterfall, vegetable garden, citrus trees & spiral staircase leading to the upper deck with amazing panoramic views!

For more information on this listing and many more, please visit www.ShielaSuttle.com

Just Listed!

7931 E Jan Ave, Mesa 85209 - $130,000 - Manufactured
3 Bedrooms / 2 Full Baths / 1,188 sq.ft.




Pride of Ownership! This home has been well taken care of. Vaulted ceilings, upgraded fixtures, dual pane windows, oak cabinets, inside laundry, split master floorplan. Master bath features a separate tub & shower with double sinks and walk-in closet in master bedroom. All rooms have ceiling fans to keep you extra cool. Covered patio is screened in. There are also 2 storage sheds in the back which gives you plenty of storage. Refrigerator stays! Call today to make an appointment to view this wonderful home!

Accredited Staging Professional = ASP

Got it done! I finished my ASP designation course today. It was a good time for sure. Met some awesome new people in my class and learned more than I thought I would. It gives you a more in depth look at what it takes to make the house presentable.

For those of you who are unaware of what an ASP is, it's an Accredited Staging Professional. Say hello to Arizona's newest ASP RE Agent! Accredited ASP Stagers and ASP Real Estate Agents are true Professionals trained under strict guidelines using proven Staging techniques developed for over 30 years. When you bring your home on the market and prepare your house for sale always hire an ASP because they are the true leaders in the Home Staging and Real Estate Industries.

Home Staging is the very best proven way to get top dollar for your home as you prepare it for sale. Homes that are Staged with an ASP Professional Home Stager sell faster and for more money! This is because Staging sets the scene throughout the house to create immediate buyer interest in your property. This will then lead to your home selling for the highest possible price in today's market. Remember, "The way you live in your home, and the way you market and sell your house are two different things."

So when you are ready to list your home, please give me a call so that we can start the process of getting your house Sold!

For more information on Home Staging, visit StagedHomes.com & don't forget to check out my website a www.ShielaSuttle.com Happy Staging!

Fannie Mae Scraps Declining Markets Policy

Fannie Mae will no longer require borrowers to put up an extra 5 percent down payment when purchasing homes in areas deemed "declining markets," the country’s largest secondary mortgage market company said Friday.

Fannie Mae had been hearing concerns from REALTORS® and others for months that its declining-markets policy was bad for the housing market because it discouraged consumers from buying homes in markets hardest-hit by foreclosures.

"It stigmatized communities with lower sales and prices," said Dick Gaylord, president of the NATIONAL ASSOCIATION OF REALTORS®.

NAR met several times this spring with Fannie Mae officials and sent letters reflecting members' unease with the policy. “We heard the concerns of NAR and we reviewed and determined that changes in our policy were needed,” Gwen MuseEvans, Fannie Mae vice president for credit policy and controls, said in a statement Friday.

Fannie Mae's announcement comes as more than 8,000 REALTORS® are gathered in Washington, D.C., where Fannie Mae is headquartered, for NAR's 2008 Midyear Legislative Meetings & Trade Expo.

Under the policy change, borrowers can get loans up to 95 percent loan-to-value, even in markets in which prices have been falling. Prior to the change, borrowers could only get loans up to 90 percent to give lenders a 5-percentage-point cushion to protect against possible price declines in the future.

“This new down payment policy reinforces our goal to support successful home-owning,” says Marianne Sullivan, Fannie Mae's senior vice president of credit policy and risk management for single-family homes.

The new policy takes effect June 1.

— By Robert Freedman for REALTOR® magazine online

What You Need to Know For Your Credit

What You Need To Know:

1. What is the credit score range? Generally, scores range between 350 and 850.

2. What is a good credit score? Usually a score of 720 or higher is best.

3. What makes up a FICO, or credit score? The breakdown of a FICO score is as follows:

35% - Payment History
30% - Amounts owed
15% - Length of credit history
10% - Types of credit
10% - New Credit

4. Should a person pay off their debt? If you are pursuing a loan, then you should pay off any unsecured, or credit card debt.

5. How many credit cards should a person have? New credit users should have no more than two to three. Seasoned credit users with good history can have anywhere from 5-7 and be safe, although not recommended. Opening too many accounts over a short period of time red flags your file.

6. What balance should I carry on my credit cards to maximize my credit score? You should have a very low or zero balance on your credit cards. If you do carry a balance, it should be no more than 30% of the card limit.

7. Should I close any of my credit cards? It may seem like a good idea to open all credit cards offered to you. But creditors look at your potential for debt when considering you for credit. However, once the account is open, the damage is done. Closing credit card accounts will bring DOWN your credit score. When and if you do close credit card accounts, close the newest ones with the lowest limits first.

8. How do inquires affect your credit score? An inquiry can affect your score anywhere from 2 to 30+ points, depending on other factors in the report. But only inquires you make for new credit affect your score.

9. Is your FICO score affected if you run a personal credit report? No, Personal credit checks, as well as credit inquires by potential employers or businesses who want to offer you goods appear on your report as inquires, but do not affect your score.

If you are in need of a Mortgage Consultant, please feel free to Contact Me for a list of reliable referrals.

Expect a Summer Rise in Home Sales

A flat pattern in home sales activity should continue for the next couple of months before improving over the summer, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®.

Lawrence Yun, NAR chief economist, said the extent of an expected recovery hinges on better access to affordable loans. “Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas,” he says. “As anticipated, we continue to look for a soft first half of the year, for both housing and the economy, before notable improvements in the second half. Some time is needed for FHA and new conforming jumbo loans to become widely available.”

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, edged down 1.0 percent to 83.0 from a downwardly revised level of 83.8 in February, and was 20.1 percent lower than the March 2007 index of 103.9.

NAR President Richard F. Gaylord says additional costs in many markets are hindering a recovery. “Our members are telling us that more buyers are looking at homes but are slow in signing contracts, and that’s contributing to the weakness in pending home sales,” he says. “In many cases buyers are waiting for greater access to affordable credit, especially in higher cost areas, but some are disappointed with what appears to be unnecessarily restrictive lending requirements. The good news this week is there is some discussion toward relaxing some of the burdensome lending practices.”

The PHSI in the Northeast jumped 12.5 percent in March to 80.8 but remains 15.4 percent below a year ago. In the South, the index slipped 0.1 percent to 84.9 and is 26.7 percent lower than March 2007. The index in the West declined 1.4 percent in March to 91.2 and is 9.5 percent below a year ago. In the Midwest, the index fell 10.4 percent in March to 74.1 and is 22.3 percent below March 2007.

Existing-home sales are projected to rise from an annual pace of 4.95 million in the first quarter to 5.82 million in the fourth quarter. For all of 2008, existing-home sales are likely to total 5.39 million, and then rise 6.1 percent to 5.72 million next year. “Although more than half of local markets are expected to see price growth this year, the aggregate existing-home price will decline 2.4 percent in 2008, driven by a relatively few markets that are very oversupplied,” Yun says. The median price is forecast at $213,700 this year before rising 4.1 percent to $222,600 in 2009.

Some areas already are seeing sales increases, underscoring that all real estate is local. In March, unpublished snapshot data shows sales in Bakersfield, Calif., and Jackson, Miss., were higher than a year ago. At the same time, price gains were noted in markets such as Buffalo-Niagara Falls, and Cedar Rapids, Iowa.

On May 13, NAR will report first-quarter data on metropolitan area home prices, covering about 150 metro areas, and state home sales. “Although some market adjustments are necessary, a downward overshooting of the housing market would cause unnecessary loss in economic output, income, and jobs,” Yun says. “It is critical to stimulate housing demand by inducing fence sitters back into the market. A home buyer tax credit on any home purchase would accomplish that.”

Here are some highlights from NAR's report:

*New-homes. Sales of new homes are expected to fall 30.9 percent to 536,000 this year before rising 10.1 percent to 590,000 in 2009. Housing starts, including multifamily units, will probably drop 29.5 percent to 955,000 in 2008, and then rise 1.3 percent to 967,000 next year. The median new-home price is estimated to fall 3.7 percent to $238,000 this year, and then rise 5.4 percent in 2009 to $250,900.

*Rates. The 30-year fixed-rate mortgage is likely to rise gradually to 6.2 percent by the end of the year, and then average 6.3 percent in 2009.
Affordability. NAR’s housing affordability index is expected to rise 10 percentage points to 127.0 for all of 2008.

*GDP. Growth in the U.S. gross domestic product (GDP) should be 1.5 percent this year and 2.3 percent in 2009. The unemployment rate is projected to average 5.3 percent in 2008 and 5.5 percent next year.

*Inflation. Inflation, as measured by the Consumer Price Index, is seen at 3.4 percent this year and 2.2 percent in 2009. Inflation-adjusted disposable personal income is forecast to grow 1.2 percent in 2008 and 3.0 percent next year.

Source: NAR

www.ShielaSuttle.com

Record High of Vacant Homes for Sale

The number of vacant homes for sale in the United States set a new record in the first quarter of 2008, the U.S. Census Bureau reported Monday.

The Census Bureau reported that 2.9 percent of U.S. homes or 2.28 million properties, not including rentals, were vacant and for sale. It was the highest quarterly number as far back to 1956 when records of such vacancies were first kept.

The West had the biggest gain in vacancy rates among home owners, rising to 3.2 percent in the January-March period from 2.6 percent in the same quarter a year earlier. Vacancy rates inched up in the Northeast and remained steady in the Midwest and South.

Source: The Associated Press, Alan Zibel (04/28/08)