Chris & Shannan today announced they have adopted the latest technology that allows them to do 3D 360 Virtual Tours of Homes. These specialized tours immerse the buyer into the property giving them the unique ability to take either self guided or automated tours of a home. This technology is the best way to showcase a home because of the high quality scans and the ability to add tags to special items in the home. Less than .002% of the real estate agents in the US have adopted this technology!
A sample of the technology is here:
Paying off revolving accounts each month does not necessarily help your credit score. Keeping your balances at any one time under 30% of the limits will likely increase your score since it is when your credit card provider reports the balance that is one of the keys for credit scoring.
Studies also show that keeping a very small balance on revolving accounts, 1%-2% of the limit, will maximize the revolving component of your credit score. If your limit is $5,000, try to keep a balance of $50-$100 on your account to help improve your credit score over time.
As of this morning, Pathway to Purchase has about 1,600,000 of funds back available due to cancellations.
Remember, only this program is only for the city of Tucson properties.
Interest rates play an important role in real estate.
For buyers, the interest rates often determine how much house a buyer can buy. When a lender prequalifies someone to buy a home they are looking at ratios between income and current expenses. Those ratios determine how much of a payment someone is allowed in purchasing a home. As interest rates go up the payments go up, and the amount of home (maximum purchase price) someone can afford.
For sellers, as interest rates go up it makes homes less affordable and fewer buyers available as potential purchasers. This can have an adverse effect on home values.
Yesterday, the Wall Street Journal reported that after review of the minutes of the most recent meeting that it appeared that policy makers could raise rates ‘fairly soon’ and could adopt a more aggressive rate increases this year than was currently expected.
Chairwomen Janet Yellen is scheduled to speak on March 3rd and may send a clearer message on rate increases. Right now investors are saying there is about a 22% chance rates will increase when the Fed meets on March 14-15.
Current Rates as of Today:
4.16% with .5 Points 30 Year Mortgage
3.37% with .5 Points 15 Year Mortgage
The 10% Down Payment Assistance program known as P2P Program has ended
As you may already know the wonderful P2P program that offered 10% DPA has now ended because all of the funds allocated to Tucson have been exhausted. Many of our customers in our Tucson market had taken advantage of this great program and they are now proud homeowners. The statewide P2P program is still running and if you have borrowers in area’s outside of Tucson, there may be funds available for them. Please consult with us for more details. There are rumors that the Tucson P2P program may receive an additional allocation of funds carved-out from the statewide funds, and if that is the case, we will be sure to promptly let you know!
4% Down Payment Assistance
Please keep in mind, the 4% DPA called Pima/Tucson Homebuyers Solutions program is still available for your customers and it is a great solution for many homebuyers. This program offers alot of flexibility in many ways and is beneficial for many borrowers, even if they have a co-signer. For a list of lenders…just ask!
UPDATE ON WISH
FHR has access to WISH funds that expire soon!
The Purchase Contract must be executed by March 31, 2017
Match your client’s contribution X3 for up to
$15,000 in Down Payment Assistance
Please see the attached flyerPima MCC 2016
Shortly after the new administration took office, HUD announced that the reduction in monthly MIP payments for FHA home loans that had been announced recently is being rescinded.
The monthly MIP cost is currently .85% annually for minimum down payment FHA loans and was scheduled to be reduced to .60% today. The difference in monthly payments to a consumer on a $250,000 loan amount is about $52 per month. In addition, FHA still charges an upfront premium of 1.75% of the loan amount that is financed into the loan.
Here is our short review on the new Norwegian Cruise Line private island Harvest Caye!
Holiday Traditions of the West
Fri. 12/23, 10am-5pm
The Western Heritage Foundation presents a holiday-themed event that celebrates the Christmas Season with historic western flair at Old Tucson. $10.95-$17.95
The Mini Time Machine Museum:
Wee Winter Wonderland
Fri. 12/23, 9am-4pm
The Mini Time Machine Museum
The museum lobby and galleries are decorated for the season, as well as fifteen miniatures decorated to depict holiday celebrations around the world and throughout time. $6-$9
Miracle on 34th Street: A Live Radio Play
Fri. 12/23, 7:30pm
Live Theatre Workshop
Live Radio Play puts its stamp on the classic story through dozens of character voices and live Foley sound effects. $15-$20
Fri. 12/23, 6pm-8pm
Reid Park Zoo
ZOOlights features jingles bells, twinkling lights, lighted animal sculptures, live entertainment, and visits with Santa. $5.50-$9.50
American Mineral Heritage:
The Harvard Collection
Fri. 12/23, 9am-5pm
Flandrau Science Center
The exhibit includes a trove of stunning, historical specimens, rare golds, azurites, and tourmalines prized for their beauty and historical significance. $10-$16
Butterfly Magic at the Gardens
Fri. 12/23, 7:30am-4:30pm
Tucson Botanical Gardens
Tucson Botanical Gardens presents a live tropical butterfly exhibit. View colorful butterflies fluttering and marvel at nature’s flying flowers. $7.50-$13
The Nutcracker Ballet
Fri. 12/23 & Sat. 12/24, times vary
Tucson Music Hall
Ballet Tucson’s wonderful, traditional version of the holiday classic features swirling snowflakes, marching toy soldiers, giant mice, and candy confections. $26-$58
Season of Light Planetarium Show
Fri. 12/23 & Sat. 12/24, times vary
Flandrau Science Center
This annual family light show weaves together the astronomy of the Winter Solstice with the history of light festivals across times and cultures in celebration of the spirit of renewal. $10-$14
Fri. 12/23 & Sat. 12/24, 10am-4pm
Modernist Ceramics is a retrospective of the functional and fine art ceramics featuring regional and rustic mid-century style. $5-$8
Winterhaven Festival of Lights
Fri. 12/23 – Sun. 12/25, 6pm-10pm
For 67 years, the residents of Winterhaven have hosted the annual Winterhaven Festival of Lights as their gift to the community.