Arizona Real Estate And Other Stuff !!

Benefits of Short Sale vs Foreclosure

2011-02-01T12:46:00.003-07:00

Here is a list of some of the Benefits that a Short Sale has over letting your home go to Foreclosure:

The biggest question I get asked when I start speaking about a Short Sale is what will it do to your credit rating. John's answer.... it is going to hurt your credit score but in general a foreclosure would hurt your credit score a lot more. However a Short Sale will allow your credit to recover faster then a foreclosure and in most cases you can apply for a mortgage in 2 years vs 7 years for a foreclosure.

Many people believe that the easiest way to dispose of a home is through foreclosure, but what few realize is that (depending on loan type) they can potentially be sued after foreclosure by the lender for the deficiency. Loans like a home equity line of credit are a personal debt and therefore are not automatically extinguished by foreclosure.

The good news for my clients is that Arizona as Anti-deficiency laws on the books while they still do have some grey area. If you are doing a Short Sale with me you will be protected because I insist that we use a Real Estate Law Firm in order to make sure you are protected.

Until Next Time,

John C. Palmay

azrealtorjp@gmail.com

480-529-9063

@johnpalmay on Twitter

Short Sale.. Simple Terms

2011-02-01T12:26:00.004-07:00

Even though the Real Estate Market is full of Short Sales and Foreclosures I still seem to get questioned on what exactly is a Short Sale and is it right for me. So I tried putting the answer in very simple terms below.

What is a Short Sale ?

A short sale occurs when the outstanding obligations (loans) and cost of selling are greater than what the property can be sold for. Short sales are a way for a home owner to avoid foreclosure and still be able to pay off their loans (s) by settling with the lender.

OK now to more of the tricky part... The terms under which a lender approves a short sale depend of the borrower's circumstance and of course as well to the Lenders (bank) own set of guidelines.

Below is a example of a Ideal Short Sale Candidate :

Your payment is delinquent or could be in the very near future. (Note: Some lenders won't work with home owners who are current making loan payments and it is best to check with lender on their policy)
You may have a hardship, some of the examples are Divorce, loss of job, medical bills,or even a reduction in your paycheck.
You have no Major assets, if the Bank notices you have a very large bank account or other assets then they are least likely to work with you. (401k's and IRA's are the exception, the banks cannot go after these.)

The next posting I will tackle : Short Sale vs Foreclosure

Until Next Time,

John C. Palmay

480-529-9063

azrealtorjp@gmail.com

@johnpalmay on Twitter

The Banks Are Holding The Home Sale Process Up !

2009-12-11T10:06:00.004-07:00

I keep hearing reports that the banks are losing up the purse strings on some of the mortgages that people can no longer afford to live in. Funny I have several transactions going on right now and we are still waiting for the banks to sign off on these deals.

I have always enjoyed Real Estate, I like working with people, and have enjoyed what usually was a normal 45 day sales cycle from the time you first met your client to the time it took when you could finally open up the front door of the New home and hand then over the keys. Well now this sales cycle has ballooned into a 120 day plus sales cycle if you’re lucky due to the fact that Arizona has so many Short Sales going on right now and that most banks aren’t writing off these loans all to quickly at the moment. Or they just aren’t writing the right one off, the ones I am involved inJ!

I have to admit I have never been a fan of the big banks (although full disclosure I do have an account with Wells Fargo) and this makes me hate them even more. Clearly right now Bank of America is the worse bank to be dealing with, ok let me be a little fair they did buy Countrywide and acquired a complete nightmare with that transaction. With that said they still are the worse when it comes to them working the Short Sale Process, if they even have a process.

I realize that no business wants to right off 200k of a bad debt and the banks are holding many of these, but the longer they hold onto to them the more it is costing them. The market, especially here in Arizona isn’t suddenly going to shoot up 20% in value overnight so these banks need to start getting this bad loans off the books already. They need to use the Governments money or really our money to fix this issue instead of worrying about paying the government back so that all the top brass can get some fat bonus again.

Until Next Time,

John C. Palmay

The Palmay Real Estate Group

480-529-9063

Twitter: azrealtorjp

Come on Bank of America start clearing some of your bad loans, or at the very least work my deals first, my kids need to have a Christmas.

FHA Loan Limit Correction

2009-12-04T13:23:00.003-07:00

I need to correct my Post from the other day regarding the 2010 FHA Loan Limits.

The FHA loan limits in Maricopa County, Arizona will not be changing and will remain at $346,250 for 2010. I received information the other day which wasn't accurate so I wanted to repost this information ASAP. If you have any questions about the limits for 2010 please feel free to give me a call at 480-529-9063.

Thank You and Until Next Time,

John C. Palmay

The Palmay Real Estate Group

480-529-9063

Twitter - azrealtorjp

2010 FHA Loan Limits Released - IMPORTANT!

2009-12-01T17:16:00.003-07:00

FHA released the new loan limits today for year 2010, as you probably guessed the most areas are going to see a decrease from the 2008 & 2009 loan limits. Here in Maricopa County, Arizona we will see a max loan limit of $271,050 down from $346,250 for single family residences.

So for the majority of the country will see the FHA loan limits as followed :

One Unit $271,050
Two Unit $347,000
Three Unit $419,400
Four Unit $521,250

Of course if your not located in AZ please check with your local loan officer, if you are in Arizona I suggest you call David Kester with any questions he is the best loan officer in Arizona and can be reached at 602-628-6500.

Until Next Time,

John C. Palmay
The Palmay Real Estate Group
480-529-9063
Twitter: azrealtorjp

Illegal Housing Bids on the Rise

2009-11-23T22:18:00.004-07:00

This illegal practice somes at a time when its normal for 4000 valley homes to be foreclosed on and put up for auction each month. Until a few months ago, most of the homes failed to sell at the auction and went back to the lenders.

When foreclosure homes come up for public auction in Phoenix Metro area a minimum opening bid is set and bidding is open to anyone. But the Arizona Republic did an investigation into the daily public auctions that are held are the Maricopa County Courthouse steps and at some of the local law offices suggests a growing number of homes are sold for less then the posted opening bid. Hmm why is this ? The Arizona Republic found out that prices on some foreclosure homes are bring dropped below the opening bid just hours or even minutes before the auction starts. Buyers who are aware of the "drop bids" scoop up those houses before other bidders even know of the price drop.

Real Estate market watchers and unsuccessful bidders at the auction say drop bids are driving the record number of auction sales. Now drop bids violate the States foreclosure sale laws, says the states leading court appointed foreclosure trustee attorneys.

If you would like to read more about this please read Catherine Reagor's Nov 22nd article on this subject, in the Arizona Republic website www.azcentral.com/business/realestate I found it to be a very intersting read.

Until Next Time,

John Palmay
The Palmay Real Estate Group
480-529-9063

Holiday Bash at The WaterMark (Gilbert and German) Dec 5th

2009-11-23T21:59:00.003-07:00

Some area businesses are getting together to throw a holiday bash at the Watermark which is located at 2414 S. Gilbert Road, which is just south of San Tan Loop 202 near the New JC Penny and Mcdonalds. Hayrides, games, a petting zoo, craft station, a bouncy play house for the kids and of course free hot cocoa and cookies.

Santa also is expected to make a guest appearance so you will have many photo opportunities for with the Big Man and the kids. Parents are asked to accompany their children and to donate one can of food per child to the Salvation Army, a food drop will be located onsite for this event. C3 Modern Storage will also donate $1.00 per student to their respective Chander or Gilbert School or non profit organization of choice. For more information or to volunteer to help with this non-profit event please contact Debbie Yung at 602-430-8289 or Lu at 602-393-9370.

Until Next Time and Happy Holidays from The Palmay Real Estate Group

John Palmay
480-529-9063

Cookies and Photos With Santa Dec 4th / Chandler

2009-11-23T21:31:00.002-07:00

Chandler residents are invited to the historic McCullough-Price House from 3 to 6 PM on Friday December 4th for a professional photo with Santa near the Fireplace in this very Historic Home. Of course Santa will make sure that the City Of Chandler provides Cookies and Hot Cocoa for everyone.

Several packages are available to purchase:

A $20 fee for 2 5 x 7 prints and one 8x10 all of the same pose.
A $15 fee for a CD with 3 different poses along with the photo's copyright which will allow you professional reprints so you can make holiday cards or calendars, etc.

They also would like a $4.00 suggested donation per family to enjoy the cookies, cocoa and crafts. For those of you who have never visited the mcCullough-Price house it is located at 300 s Chandler Village Dr. , southwest of Chandler Fashion Center (Super Target) for more information please call 480-782-2717 or visit the city of Chandler's award winning website www.chandleraz.gov/history

Happy Holidays from The Palmay Real Estate Group,

John Palmay

480-529-9063

Santa Plans To Stop By In Fulton Ranch

2009-11-23T21:11:00.004-07:00

Jolly old Saint Nick, AKA Santa will be making a early stop in Chandler's Fulton Ranch this holiday season not once but twice in the Month of Dec. First join Santa in the Christmas cheer by rolling in to the Fulton Ranch Towne Center for a Car show in the parking lot closest to Famous Footwear from 6 - 9 PM on Friday, December 4th. Free Cookies and Hot Chocolate and giveaways, face painting, holiday music and of course a visit from the big guy himself.

Then on Saturday December 12th Santa will make a return visit from 8:30 to 9:30 am, kids are invited to a special breakfast buffet as you will sit down to a breakfast with Santa at Old Chicago. The children who attend will be given a special holiday goodie bag, now a reservation is requested for this event so please call 623-582-9599, the cost is $10.00 per person.

Happy Holidays from The Palmay Real Estate Group

Realtors: If You’re Business Is REO, Foreclosures, or Shorts Sales

2009-09-08T13:45:00.003-07:00

Clean it up you might sell it...

This is going to be a Realtor Rant because I am sick of walking into REO, Foreclosures, or Shorts Sales houses with my clients that are just trashed. I mean come on you if you are making a profit off these listings can’t you clean up the house a little?

I was in a listing the other day that a ReMax agent has had since Feb of 09, when I look at my calendar it appears to be Sept 09 and this listing still looks like a dump. Her sign is blown down, papers all over the front door, phonebooks sitting outside the home, but then once you go inside the listing you have items all over the house . But it doesn’t stop here, walk into the back yard and of course the pool is green (Maricopa County was notified) and again just garbage all over the place. Hmm you have to wonder why this home hasn’t sold as of yet ? Now come on spend 20 mins to clean it up and listing would look a lot better and maybe even sell so you can earn a commission.

Realtors please be professional if you are going to take these homes please don’t treat them just like easy money. Please don’t just hang your sign-up in the front yard and place a lock box on the front door and then walk away. I guess I am a little angry that some of the Non-Professional Realtors just take the listing and then pray it sells. Hello it would sell faster if you worked a little for your money and cleaned the place a little, or hire a crew to go in and clean the mess out.

Last Friday I took my clients out looking at numerous listing’s 7 out of 10 were these types of homes, I mean I have been in the real estate business in AZ for some time now so I realize that most of these homes will be in poor condition but some of them can be helped and even sold.

Another example was one that was owned by a Realtor that he lived in was a mess on the inside and it had a tree in the garage, yes a tree and the garage smelled like a dead body was in the trash can in the garage… Like my clients would want to look at that house in-depth when it smelled so bad, I think we stayed 30 seconds in that house because of the odor.

So what I am really saying is please be a Professional Realtor if you are making a living off of these types of Properties CLEAN THEM UP…

Until Next Time,

John C. Palmay
www.thepalmaygroup.com

Chandler Lions donate $5,000 for Chandler Parks

2009-08-11T12:14:00.003-07:00

A small Chandler Lions Club that raises money selling snacks at Little League and soccer games in Snedigar Sportsplex has donated $5,000 to the city parks department.
The Ojo Rojo Lions Club handed over the check recently, adding to about $30,000 contributed in previous years.

The money is for improvements or operations at Snedigar Sportsplex, where the group runs a concession stand.

In the past the club's donation were earmarked for specific items like picnic ramadas, but club president John Olson said the money was given this year with no strings attached because of the city's grim budget outlook.

Olson said the organization has only 16 members but they contribute more than 1,000 volunteer hours a year selling hot dogs, drinks, popcorn and snacks during the youth sports events.
One of three Lions Clubs in Chandler, Ojo Rojo - which is Spanish for "red was started in 1976 as an offshoot of a different club that held meetings on Monday nights.

The meeting times conflicted with some members' enjoyment of televised football, Olson said, so the new group started meeting on Tuesday mornings and called themselves the "red eyes." The tradition continues.

One of the club's longtime members is Dave McDowell, the city's assistant community services director, Olson said.

Until Next time,

John C. Palmay
www.thepalmaygroup.com
480-330-9700
Twitter: azrealtorjp

10 Ways to build Credit !!

2009-08-11T11:55:00.005-07:00

Written by by Dave Roos www.howthingswork.com

Credit makes the financial world go 'round. That's true for Fortune 500 companies, first-time homebuyers and aspiring college students alike. Lenders make decisions about the creditworthiness of borrowers based primarily on credit reports and credit scores -- two ways to quickly assess an applicant's credit history.
The strength of your credit history is what determines if you qualify for a credit card, a home mortgage or a car loan and at what interest rate. Have you always paid your credit card balance on time? Have you ever defaulted on a loan? It's all part of your credit history.
For new or young borrowers, however, this poses a serious catch-22: How do you qualify for credit without a credit history, and how do you build a credit history without first qualifying for credit?
More than 50 million American adults have no credit history [source: CNBC]. They've never applied for a loan, a credit card or any line of credit. While it's possible to pay cash for all expenses, it's hard to build enough cash reserves to pay for important milestones like a college education, car or home.
If you're ready to start building a credit history from scratch, you probably have a lot of questions. Where can a new borrower go for his or her first credit account? What do lenders look for in a loan applicant? What are some credit traps to avoid? Keep reading to learn our 10 healthy ways to build credit.

10: Check Your Credit Report

In the United States, credit reports are maintained by three major credit reporting agencies: Experian, Equifax and TransUnion. If you've never applied for any form of credit, then you shouldn't have an open file with any of these agencies.
Before you apply for your first credit card or make an appointment with the loan officer at the bank, check with each of the credit reporting agencies to make sure there isn't a false credit report open in your name. More than 20,000 children and teenagers were victims of identity theft in 2008 [source: Noll]. It's possible that someone has already used your name and stolen Social Security number to apply for credit.
If that's the case, you'll need to work with the credit reporting agencies to clear your record, particularly if the identity thief ran up large amounts of unpaid debt in your name.
Credit bureaus will open a legitimate credit file in your name when a bank, credit card company or other lender reports that you've had an active credit account for at least six months. All borrowers, not just first-timers, are encouraged to check their credit reports at least once a year and scan them for errors.
Mistakes can damage your credit score for years -- up to seven years for negative information like late loan payments and 10 years for a serious default like bankruptcy [source: FTC). If you find a mistake, contact the credit reporting agencies immediately.

9: Open a Bank Account

Although credit reports are the best way for lenders to rate your creditworthiness, there are other ways to build a record of trust. Bank accounts are a great way for a young adult to prove a level of financial responsibility before applying for that first loan.
Checking and savings account information isn't included on a credit report, but lenders will request it for most loan and credit card applications. Lenders like to know that you have a few years of experience handling your own money and making regular withdrawals and deposits. They also like knowing that you have a steady income.
Several major U.S. banks offer free checking accounts with no annual fees or minimum deposits. Remember, though, that negative bank account activity will appear on your credit report: [source: Burt]. So if you keep a low balance and end up bouncing a check, future lenders will hear about it.

8: Pay Your Bills on Time

Since credit reports only track money that you've borrowed, they don't include information about whether you pay your utility bills and monthly rent on time. Likewise, bill payment histories are not used to calculate the most popular credit score -- the three-digit number known as your FICO score.
What most people don't know is that the FICO score isn't the only credit score available to potential borrowers. Some alternative credit scoring models incorporate bill payment histories as one of the main criteria for creditworthiness.
The people behind FICO -- the Fair Isaac Credit Services -- recently introduced the FICO Expansion Score, which culls financial data from "alternative data sources" like rent payments and utility checks to determine creditworthiness [source: Fair Isaac Credit Services].
There's even a company called Payment Reporting Builds Credit (PRBC) that allows you to self-report payments like rent, rent-to-own purchases and utilities. PRBC might not yet have the clout of the big three credit bureaus, but a solid report from PRBC might be enough to get your foot in the door with a lender.
Of course, to earn a good grade from PRBC, you'll have to pay your bills on time religiously. Get into the habit of paying a bill as soon as it shows up in the mail, or consider setting up online accounts to pay all of your bills electronically [source: Burt].

7: Get a Co-signer

The nice thing about building credit from scratch is that you don't have to do it alone. Most lenders will allow someone with an established credit history -- like your parents, older siblings or a family friend -- to co-sign the credit application with you.
The benefits of co-signing a credit card application or loan application are twofold: The lender no longer has to make a credit decision based solely on your thin credit history and you can "piggyback" on the (hopefully) stellar credit score of your co-signer.
As with any financial transaction, you should be careful when co-signing for credit. First of all, make sure that your co-signer actually has a good credit history. If your older brother tends to exaggerate, don't take his word for it. In the eyes of the lender, you are only as good as your brother's credit score, so ensure that you see it in writing.
Also, stick with co-signers who have a clearly demonstrated relationship with you. Family members with the same surname as yours are always the best bet. A lender might get suspicious if you walk in the door with a seemingly unrelated stranger [source: Steiner].
The most important thing to understand is that co-signing for credit means that both parties are now responsible for its timely repayment. If your dad co-signs your credit card application and you run up hundreds of dollars in late payment fees, both of your credit scores are going to take a hit.

6: Get a Secured Credit Card

A secured credit card is a wonderful way to get your feet wet in the world of credit. Regular credit cards are called "unsecured," because there's no collateral backing up the line of credit. With an unsecured credit card, the bank allows you to borrow up to your credit limit without any guarantee that the money will be repaid.
A secured credit card, on the other hand, is tied to collateral held in a bank account. In other words, your credit limit equals your checking account balance or another amount required by the card company -- although payments for purchases made with this card won't be drawn from your bank account. If you have $500 in the bank, then your credit limit for the card is $500. If you try to charge more than $500 on the secured card, the transaction simply won't go through.
The cool thing about secured credit cards is that you can use them as training wheels for an unsecured card. Most secured credit lenders -- credit unions are excellent choices -- will let you graduate to an unsecured credit card after 12 to 18 months on a secured account [source: Grant].
Be careful, though: Some secured credit cards carry higher interest rates and fees. Above all, make sure that the secured lender reports to all three major credit bureaus. That's the only way you'll build a healthy credit history.

5: Get a Retailer Credit Card

Another type of "training wheel" credit card is a card issued by a retail store like Macy's or Sears. In general, retail credit cards are easier to obtain than regular unsecured cards. The downside is that they don't carry as much weight on a credit report as a normal credit card [source: Pulliam Weston].
As you should with any secured credit card, make sure that the retail lender reports to all three credit bureaus. Make sure you read the fine print: Some retail cards carry interest rates as high as 30 percent. So if you're going to use one of those cards, you need to be extra diligent about paying your balance on time.
Some credit experts warn against collecting a bunch of retailer credit cards just to cash in on in-store discounts, particularly around the holidays. Every time you apply for a new card, the lender pulls your credit report. Several hits on your credit report in a short period of time will lower your credit score [source: Ulzheimer].
Another type of retailer card is a gas card or oil company card. These cards can typically only be used to purchase gas or other automotive services, while some allow you to get cash advances at station ATMs [source: Taylor]. Once again, make sure that the card reports to all three credit bureaus.

4: Get Your First Credit Card

If you've gotten your feet wet with a secured credit card or retailer card and have proven that you can pay your monthly balance on time, it's time to take the plunge. Responsible credit card use is one of the quickest and most effective ways to build a solid credit history.
An unsecured credit card is a "revolving" line of credit. This means that the lender sets a credit limit and allows you to continuously borrow and pay back your balance as long as you stay under that limit. Every month, you're required to make a minimum payment. Any balance that you carry from month to month will be charged interest.
To build healthy credit with a credit card, you must follow one simple rule: Always pay your monthly bill on time [source: Bills.com]. If possible, pay the balance in full every month. If not, at least make the minimum payment.
There are other credit card traps that can affect your credit score. Try not to carry a balance higher than 30 percent of your credit limit [source: Pulliam Weston]. FICO frowns on borrowers who have a high debt-to-credit ratio.
It's also better to stick with one credit card rather than constantly trading in for a card with a lower interest rate. Fifteen percent of your credit score is based on the length of time you've maintained a credit account [source: AuWerter].

3: Apply for a Small Loan

Loans are a different kind of credit than credit cards. A loan is what's known as installment credit, since you pay back the loan, with interest, in set monthly installments. A mortgage or a car loan is a good example of installment credit. If you want to make one of these major purchases someday, it's a good idea to show lenders that you have some positive experience with installment credit.
For many young borrowers, a student loan is a great way to begin using installment credit. Student loans carry relatively low interest rates and are reasonably easy to obtain. The best part about a student loan is that you don't have to start repaying the loan until six months after you graduate. The downside is that the loan won't appear on your credit report until you start paying it back.
Student loans are just one type of installment loan. Banks and other lenders allow you to take out small loans for just about anything: a used car, an appliance, a vacation or even a personal loan. Keep in mind that the lender has the right to say no, so come prepared to make your case.

2: Get a Good Job and Keep It

On every credit report, there's a section called "identifying information." In that section is a place to record employment history. One reason for including employment history on a credit report is to give hiring managers an easy way to verify information on a job application. Another reason is to give lenders subtle information about the character of a borrower.
When lenders examine a borrower's employment history, they're looking for stability. If you've been at the same job for years and your salary has continually risen, then you're a good prospect for credit. If you constantly jump from job to job and your salary has been erratic, that puts you in a less desirable position for lenders.
Your employment history is also a good indication of your capacity to repay credit [source: Federal Reserve Board]. A person with a low average annual salary wouldn't have the same capacity to repay a large credit card balance than someone with a higher salary.
If you apply for a mortgage, salary history is one of the most important considerations that lenders will make. Usually, you'll be asked to supply income tax forms for the past two years and current pay stubs as proof of your earnings [source: Federal Reserve Board].

1: Don't Mess Up!

One of the best ways to build good credit over the long term is to avoid the small and large mistakes that can stain your credit report for years.
Pay all of your bills, loan installments and credit card payments on time. Not only will you pay a fortune in late fees -- most credit cards charge over $30 for late payments -- but lenders will raise your interest rates for future credit [source: Willis].
Evictions are doubly nasty. If you're evicted, a collection agency will typically come after you for any back rent. That collection agency will report to the credit bureaus, meaning negative information will now be on your credit report for seven years. Evictions will also show up on tenant screening reports, making it difficult for you to rent future property or secure a mortgage on a future home [source: Sweet].
Avoid bankruptcy at all costs; it's the credit equivalent of poison. Bankruptcies will mar your credit report for 10 years. Above all, do your best not to cross paths with the law. Criminal convictions stay on your credit report forever (yes, forever). Even arrests that don't lead to convictions will appear on your credit report for seven years [source: FTC].

Until Next Time,
John C. Palmay
www.thepalmaygroup.com
Twitter : azrealtorjp
480-330-9700

Sources
AuWerter, Stephanie. "Keeping Score." Smart Money. February 28, 2008 (June 3, 2009)http://www.smartmoney.com/personal-finance/debt/keeping-score-13273/
Bills.com. "How to build credit." (June 3, 2009)http://www.bills.com/blog/how-to-build-credit/
Burt, Erin. "Seven Steps to Stellar Credit." Kiplinger.com. June 30, 2005 (June 3, 2009)http://www.kiplinger.com/columns/starting/archive/2005/st0630.htm
CNBC (via YouTube). "The 'Parallel Universe' of Credit Scores." (June 3, 2009)http://www.youtube.com/watch?v=Jb8FdQDBt-M
Fair Isaac Credit Services. "FICO Expansion Score: Overview." (June 3, 2009)https://www.ficoexpansionscore.com/Content/About.aspx
Federal Trade Commission. "Building a Better Credit Report." (June 3, 2009)http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm
Federal Reserve Board. "Consumer Handbook to Credit Protection Laws: Applying for Credit." (June 3, 2009)http://www.federalreserve.gov/pubs/consumerhdbk/apply.htm
Federal Reserve Board. "Home Mortgages: The Mortgage Application Process." (June 3, 2009)http://www.federalreserve.gov/Pubs/mortgage/MORBRO_2.HTM
Grant, Kelli B. "6 Ways to Build Up Your Credit." Smart Money. October 27, 2008 (June 3, 2009)http://www.smartmoney.com/spending/deals/6-ways-to-build-credit/?hpadref=1
Pulliam Weston, Liz. "9 ways to build credit from scratch." MSN Money. May 9, 2008 (June 3, 2009)http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/9waysToBuildAKillerCreditScore.aspx
Steiner, Sheyna. "How to establish a great credit score." Bankrate.com. (June 3, 2009)http://www.bankrate.com/brm/news/Financial_Literacy/credit_help/build_credit_score_from_scratch_a1.asp?caret=121d
Sweet, Maxine. "How being evicted can affect your credit report." Experian. July 27, 2005 (June 3, 2009)http://www.experian.com/ask_max/max072705c.html
Taylor, Don. "Right card can help build credit history." Bankrate.com. (June 3, 2009)http://www.bankrate.com/brm/news/DrDon/20070530_secured_credit_card_a1.asp
Ulzheimer, John. "Ask John: Retail Credit Cards." Credit.com. (June 3, 2009)http://www.credit.com/rs/vol14.jsp
Willis, Geri. "Sidestep credit card fees." CNN Money. April 2, 2007 (June 3, 2009)http://money.cnn.com/2007/03/08/pf/saving/toptips/index.htm?postversion=2007040213

Good time to buy an Investment Property

2009-08-11T10:38:00.004-07:00

(This is from Guest Blogger Lanie Martin, Sr. Mortgage Consultant with OnQFinancial. Lanie can be reached at 480-200-4132)

Why we think it’s a good time to buy an Investment Property

The inventory levels of homes priced at $350,000 and below are getting low. There is a direct correlation between the type of financing that is available and the inventory that is selling. This $350,000 and below price range is in a state of multiple offers.
Numerous private money funds of $1 – $300 million are buying up 1-10 homes per day in the greater Phoenix area. These are cash buyers investing smart money back into our Arizona real estate market. Because of stringent lending conditions, only investors with 20% down payments and cash buyers are acquiring investment properties today. If you have the means, consider following the smart money by picking up an investment property.
The chart below shows that we are currently ranked #3 in number of home sales out of the last 9 years. This evidences the high number of buyers jumping back into the market. What is amazing is that we are seeing almost the same purchase activity as 2004, which had more lenient financing.
If you are looking to buy up into a new primary residence, it is also a great time to pick up a new primary home at a low price and rate while renting out your old home.
Today’s combination of low home prices and low interest rates provide better cash flow.

Greater Phoenix Area

Ranking the Number of Sales for First Half of the Year

Rank Year Number of Sales
#1 2005 54,142
#2 2004 48,067 #3 2009 45,053 #4 2006 40,264 #5 2003 39,225 #6 2002 33,469 #7 2001 32,254 #8 2007 32,105 #9 2008 26,936

Lanie Martin, Sr. Mortgage Consultant
480-200-4132
Lanie.martin@onqfinancial.com

Until Next Time,

John C. Palmay

http://www.thepalmaygroup.com/

480-330-9700

Twitter: azrealtorjp

Housing Short Sales Part Two

2009-08-11T09:59:00.004-07:00

What are the biggest challenges in dealing with lenders ?

According to the Mortgage Bankers Association in a Spring 2006 presentation there are three effective ways to maximize Loss Mitigation.

Communication
Communication
Communication

Finding someone in the Loss Mitigation/Workout Department / Default Resolution Team willing to make a decision and move forward can be the initial obstacle to the process. Most likely every lender you will deal with will have a different name for the department, it is est to ask for Loss Mitigation and be directed. Expect to be on hold for long periods of time and put through to voice mails that are never returned.

Finding the decision maker is often one of the biggest initial challenges in a short sale.
If the seller can afford the payment the lender is going to say no.
The wave of short sales is unprecedented so it will be constant change and evolution.
HUD is pushing for loss mitigation.
Some lenders may not respond at all.
Rules and guidelines for short sales are very across the board from loan types and specific lenders.
Banks do not initiate short sales, Realtors and Sellers do.
Be prepared to hear "NO" a lot from lenders, always support your request with documents and research. Treat it like a thesis that you must defend.

The most important fact is to communicate with your lender other wise you may be going down the Foreclosure road map. If you are facing issues please call Neighbor Works; @ 1-888-995-HOPE or you can go to www.nw.org and this is a free service where they will answer all your questions. Feel free to Call us The Palmay Group, @ 480-330-9700.

Until Next Time,

John C Palmay

The Palmay Real Estate Group

Twitter: azrealtorjp

Information on House Short Sales Part I

2009-08-11T09:28:00.005-07:00

What is a Short Sale:

A short sale , also known as a short pay or short payoff, allows homeowner to sell their property for less than the amount owed to the bank. When the market value of the property is less than the amount owed the owner is considered upside down. The Proceeds from the sale are used to pay off the outstanding amount of the mortgage although the proceeds will be "short" the amount actually owed on the mortgage. It allows a homeowner the opportunity to avoid foreclosure. Ultimately it may put their credit standing in a better position than if an actual foreclosure were to take place. The entire process hinges on the approval of the lender to accept less than the amount due.

Who is the perfect candidate for a short sale ?

More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of services that mortgage lenders can offer to individuals having trouble with their mortgage. (Freddie Mac/Roper poll of 2031 US homeowners)

Generally the homeowners circumstances are :

Loss of job reduction of income
Adjustable rate mortgages that are increasing
Death of a homeowner, spouse or family member
Illness or disability of homeowner or family member
Divorce or Separation
Civil or crimminal litigation
Forced job relocation by employer
Casastrophe of nature such as earthquake, hurricane, tornado, etc.

Why would a Lender accept less than what is owed ?

Lenders and investors do not make money on foreclosures. Losses range from 20 cents to 60 cents on the dollar. Lenders typically lose $50,000 or more on one foreclosure.

Look for Part Two on Short Sales being posted shortly.

Until Next Time,

John C. Palmay

The Palmay Real Group

Twitter: azrealtorjp

Jim Cramer Says :

2009-08-07T09:03:00.001-07:00

Check the Stock Market Quotes on CNBC.com.

Phoenix's housing Market bust goes boom !!

2009-05-18T19:59:00.004-07:00

This article appeared in the LA Times today speaking about the Phoenix housing Market how the Bank owned properties are being sold so fast as long as they are priced right. It is a really good read so I hope you enjoy it.

http://www.latimes.com/news/nationworld/nation/la-na-phoenix18-2009may18,0,7979477.story

Until Next time,

John C. Palmay
The Palmay Real Estate Group
www.thepalmaygroup.com
480-529-9063
azrealtorjp - Twitter

2nd Annual Charity Golf Tournament

2009-05-18T19:30:00.003-07:00

Watch your face! Balls will be flying at ASU's Karsten Golf Course in Tempe, Arizona on May 30.
Volunteers in the Garden will be hosting the Desert Botanical Garden’s 2nd Annual Charity Golf Tournament, “Golfin’ in the Desert" beginning at 7:30 a.m. The event, which raked in a cool $13,000 last year, seeks to raise money to bring children of the Valley's Title One schools to the educational program at the Garden.

The first 100 golfers to enter will be stroking, cajoling and whispering sweet somethings to their shaft in hopes of earning the title of supreme putter. But in the end, everybody wins (ey, it's for charity).

The $125 entrance fee includes green fees, cart, practice balls, two raffle tickets and gourmet burgers and Hotdogs. Fore!
Go to www.dbg.org for more.

Until Next Time,

John C. Palmay
The Palmay Real Estate Group
480-529-9063
@azrealtorjp - Twitter

Arizona Foreclosure Task Force !!

2009-05-13T20:02:00.004-07:00

So many people today are facing Foreclosure or perhaps thinking that they soon will. I would like you to be aware that this link can be of great help to you.

http://www.arizonaforeclosuretaskforce.com/

The Arizona Foreclosure Prevention Task Force was established to reduce residential foreclosures in Arizona and the impact of foreclosure on families and communities.

They have a dedicated 24 Hour, 7 Day a week toll-free help line that you can reach local Arizona Foreclosure counselor's, that number is 1-877-448-1211.

last but not the least they have published a Workbook that is a FREE download that is a great tool to educate homeowners about the foreclosure process. Please if you know anyone who might be or is close to filing please give them the Phone number above or the website address so they can have a clear understanding of the process.

Until Next Time,

John C. Palmay
The Palmay Real Estate Group
480-330-9700
Twitter: azrealtorjp
www.thepalmaygroup.com

Upgrade Your Home,Save Money & and Save on Taxes.

2009-05-13T17:06:00.003-07:00

Making energy-efficient home improvements will cut your cooling costs this summer and can also provide a sizable break on your tax bill come next April 15th.

Thanks to the government's stimulus package, consumers can receive tax credits for up to 30% of the cost to make energy-efficiency improvements to their homes, such as adding insulation or replacing windows those old windows for new and improved versions. The maximum $1,500, one-time-only credit is a significant jump from the $500 offered in years past and will be available through 2010.

The good news is you will be saving money going forward on your electric or heating bill and then also get a tax credit next tax season. The cheapest project that can be applied towards this tax rebate is Insulation, even though my home is newer I still did a blown in project one weekend. For whatever reason the ceiling over my Garages were never insulated so I went to Home Depot and purchased the insulation and they also had a special going were I could rent to blower for FREE as long as I purchased 10 bags or more. So this project was pretty easy, and it will keep paying me every month in my cooling bills and then pay me back again next April when I do my taxes.

Other areas that areas where you can save are Windows & Doors, New A/C Units, New Roof, Solar projects, wind Projects etc...

Until next time,

John C. Palmay
The Palmay Real Estate Group
480-330-9700
Twitter - azrealtorjp
jpalmay@gmail.com

Tax Credit Can Be Used for Down Payment

2009-05-13T16:56:00.004-07:00

This is great news for the "First Time Home Buyer" or anyone who hasn't had a house in there name for the last 3 years. The Goverment Tax Credit of $8000.00 now can be used as a Down Payment for the purchase of a house.

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Until Next Time,

John C Palmay
The Palmay Real Estate Group
480-330-9700
Twitter:azrealtorjp

Ideas If You Need To Sell Your Home Fast !!

2009-05-11T20:42:00.004-07:00

In today's market so many people are coming up to talk to me about Real Estate which is great since I enjoy speaking about it so much, I mean it is my passion and well my career that I have chosen to be in. believe me I have heard my share of the good deals that Buyers are getting right now and that is great. I feel for the people who have lost jobs and no longer can support the family and or house payment and I feel real bad for them and this is why I like to offer tips every month.

This months tip is really more common sense, but I still feel I need to go over it because I have been getting so many emails on this subject. The question that I have been hearing the most is

"John what can I do to sell my house as fast as possible?"

1) Price - You need to Price your house correctly for the "Market" (sub-division) that you are located in. When I am going over the price with a customer I take what we call Comps along with me. This is a snapshot in time of the current pricing for the area that this customer lives in. Now depending on the data available I like to use data that is about 3 months old. This always seems to give us the best idea of the current value. When pricing you also have to keep tabs of the Trends, and what I mean by trends is the market currently, stable, heading down or I always hope heading up. Once we have all of this information it is time to come to a answer of what the list price should be.

2) Paint - Always Always try to paint your house before you list it to give it that clean feeling when a buyer walks in you want them to have a great first impression. Please this means having straight lines where the ceiling and the walls meet, it doesn't cost to much extra to have a handyman or professional painter to come in and touch-up where you painted if your not good at painting those areas.

3) Clean - Please keep the house clean and neat at all times, while you have your house on the market pretend you are a housekeeper and make the bed before you leave in the morning, and pick up your dirty wash from the floor. Pick-up around the bathroom sink and don't leave the dishes in the sink, make sure the garbage in the kitchen doesn't smell. Pretend someone you like is coming over all the time and just keep it neat.

4) Clutter - Get rid of it, I once read somewhere a official sounding words for this - "Eliminate "visual pollution", so get rid of the clutter. Make your place as open as possible. Take out that extra chair that you just throw your clothes and newspapers that you don't read on. Remove big bulky items that might be overwhelming a room even if you like it that way. (Listen to your Realtor about this, he or she can help suggest)

5) Common Sense things - Keep the house smelling nice, take the magnets off the fridge, keep the garage neat, clean up after your pets, use your elbow grease, if something in your house looks dirty to you it is... Clean it !!!

As I see things when I am out showing homes I will continue to update this posting, but please remember if it bothers you it will most likely bother someone else, so clean it or get it fixed and your home will sell that much faster.

Until Next Time,

John C. Palmay

The Palmay Real Estate Group
480-330-9700
www.thepalmaygroup.com
Twitter: azrealtorjp

Efforts to bring back housing market attracting new scams

2009-05-11T20:09:00.002-07:00

per the Norm whenever someone can try to trick someone they will. The Arizona Republics Catherine Reagor wrote an excellent article about housing foreclosure Scams that are currently going on. Remember if it seems to good to be true, it most likely is, please check everything out with a professional who works in that field.

I have attached the link to this article below, Thanks Catherine for making everyone aware.

http://www.azcentral.com/realestate/articles/2009/05/10/20090510housing-foreclosurescam0510.html

Until Next Time,

John C. Palmay

The Palmay Real Estate Group
Keller Williams Legacy One
480-529-9063
Twitter - azrealtorjp

Canceled Trip to Mexico

2009-04-29T00:10:00.003-07:00

I was interviewed today on Fox Channel 10 here in Phoenix Arizona about my families canceled trip to Mexico. because of the Swine Flu and Drug Violence we decided to stay put in the good ole USA. Here is the link to the News Story about the Palmay Family in Chandler, Arizona...

http://www.myfoxphoenix.com/dpp/news/rocky_point_travel_04_28_2009

The Short Sale Process

2009-03-27T00:08:00.003-07:00

I thought I would outline the process that The Palmay Group takes when handling a Short Sale in today's market.

In today’s real estate market, investors have many discount properties at their possession. Everywhere you turn there is another property up for sale. Some of those properties can not be sold because of price. A lot of those homeowners must sell at the prices they are asking because they either paid too much for the house when they bought it, or they refinanced their equity out of their home. To add on to that problem, a lot of those homeowners took on an adjustable rate mortgage or an ARM. An ARM is a mortgage loan where the interest rate adjusts based on the market indexes.

Some of them even took on interest only loans. An interest only loan is a loan where a homeowner doesn’t pay down the principle on their home. They are only paying the interest. But you can pay principle too if you send the bank extra money stating that it should go toward the principle only. Most of these types of loans usually come with a balloon payment. Having a balloon payment means that your loan is due in full at the end of the balloon term.

Now that the ARM is kicking in (I didn’t know that arms can kick... lol) or the balloon payment is coming due, those homeowners cannot afford to keep paying on an adjustable rate mortgage. And they most certainly can not come up with the money to pay the mortgage in full. So what do they do? Well they have two options, they can take a chance at refinancing their property or they can sell through a short sale.

Most people will not be able to refinance their home in today’s real estate market because banks are not as lenient as they were a year or two ago. So that leaves them the option of doing a short sale on their home.

A short sale comes about when a lender is willing to take less for a home than the amount due. Lenders will usually do a short sale if it is more beneficial than going through the foreclosure process. Short sales are less expensive for the lender than going through foreclosure as well. Usually, lenders will allow a short sale to take place in the pre-foreclosure stage.

The following is a list of things that you will need to do in order to have a successful short sale transaction:

• Cover Letter
• Authorization to Release Information
• Sellers Hardship Letter
• Seller’s Financial information
• 2 years w2’s
• 2 months pay stubs
• 2 months bank statements
• Supporting Hardship Info – HOA liens, medical/disability statements etc.
• Repair Estimate for the property
• Comparable sales for the property
• Contract
• Net Sheet
• First mortgage holder may ask for a payoff amount from the 2nd
• Second mortgage holder may ask for a payoff amount from the 1st
• Lender may ask for an Initial Title Report

Doing a short sale can help a seller to save their credit. They won’t have a foreclosure on their credit which keeps them in good standing. This is huge when your buying short sale properties because it is a way to help the seller and create a win- win situation. Consider doing short sales in this market and you will have much success.

Of course if you have any questions about this process please feel free to reach us at 480-330-9700 or email John @ jpalmay@kw.com

Copyright © 2008 Jamel Gibbs All Rights Reserved
Check Jamel Gibbs out at http://www.HowtoFlipforProfits.com

John C. Palmay
The Palmay Real Estate Group
480-529-9063
Twitter: azrealtorjp

Great New Book Game Out Today !!!

2009-03-23T10:50:00.005-07:00

A great new book came out today called "I Will Teach You To Be Rich" and currently is number one on Amazon. I have been watching and reading this Gentleman "Ramit" for sometime now and he has saved me not only money but also time. If you take the time and go to his website at www.iwillteachyoutoberich.com you will soon see what I am talking about.

He also will be giving away items as I posted below:

One Kindle per hour today: I'm giving away ONE BRAND-NEW KINDLE EVERY HOUR today (from 8am-4pm Pacific) to anyone who buys the book and forwards the receipt to iboughtthebook@iwillteachyoutoberich.com

$1,000 for 5 savings accounts -- each. Mint (which I use and recommend in the book) is giving away $1,000 checks to kick-start savings accounts for FIVE book buyers (that's $5k in total)

Software from Pearbudget: Three $30 accounts to help you manage your money
Entrepreneurs -- free advice. Chris Yeh (Stanford/Harvard Business School grad) and I will get on a conference call with 3 aspiring entrepreneurs for 20 minutes each and answer any questions you can throw at us

Take a look at the book, read the first chapter for Free and you too will soon follow Ramit.

John Palmay
The Palmay Real Estate Group
480-330-9700

Banks need to check each Foreclosure....

2009-03-16T12:22:00.003-07:00

Something that really gets me mad are the people who are making this foreclosure situation even worse. What I am writing about are the people who purchased a home who can afford to make the payment but now decide not to because the value of the home has decreased.

These people are just making the foreclosure issue much worse as they are increasing the number of filing's and taking funds away from other homeowners who really might have needed the help.

I had to get a MRI on my foot a few weeks ago and the Tech doing the MRI told me that he was just getting out of his house because the value of it dropped 40k from when he had purchased the home. He even went as far to tell me that he can afford the house with no problem but didn't want to have to wait the time it will take for him to make back his money.

I just think this is wrong, you signed a contract and you should live up to this contract or take the lumps. I am sure if he would have seen that value go up he would have re-done the loan and take that cash out of it.... This is just something that gets me mad, you signed a contract which was good for you then, now live up to it and pay the man. Don't take advantage again of the situation.

John C. Palmay
The Palmay Real Estate Group

www.thepalmaygroup.com

www.younamethedomain.com

www.bargainshopperstravel.com

Foreclosures see a Rise in Feb

2009-03-16T12:10:00.004-07:00

Foreclosure filings in February jumped nearly 6% from January, despite foreclosure moratoriums and prevention programs around the country, according to a report out Thursday.
Foreclosure filings were reported on 290,631 properties in February, up almost 30% from February 2008, RealtyTrac said. Its report also shows one in every 440 U.S. homes received a foreclosure filing in February.

Arizona posted the second-highest state foreclosure rate in February. One in every 147 housing units received a foreclosure filing during the month. California — with one in every 165 properties receiving a filing — had the third-highest rate.

Again I don't think any of us are really surprised by this as the Stimulus package doesn't really do anything for us down on this level as of yet. I would hope that the banks use this money in the month of March to help out the homeowners who might have purchased a little to much house. The banks were directed to use this new money for loans for struggling homeowners so lets hope that is what they use it on instead of more executive bonus money.

John C. Palmay
The Palmay Real Estate Group
480-330-9700

www.thepalmaygroup.com

www.younamethedomain.com

www.bargainshoppertravel.com

We Just Want the Avg Cup Of Joe

2009-03-16T11:53:00.003-07:00

An Article today in the Wall Street Journal should come as no surprise... It states that companies selling regular coffee at lower prices are doing better than higher-end purveyors of lattes and other fancy coffee drinks. While Dunkin' Donuts and 7-Eleven convenience stores are seeing coffee sales grow, Starbucks and Caribou Coffee Co. are reporting declines.

Really when you think about it not a big surprise, as the consumer is trying to save a buck everywhere they can. I am sure many Companes in the Corp World are seeing a increase in consumption for the "free" coffee offered in the office.

John C Palmay

www.thepalmaygroup.com

www.bargainshopperstravel.com

www.younamethedomain.com

3 things Short Sellers must Be Aware of

2009-02-10T09:40:00.003-07:00

Underwater on your mortgage? A short sale may be an option, but you first have to convince the bank to erase part of your debt - and your credit will still suffer !

1. You have to prove hardship.

To get the lender to forgive the balance of your mortgage, you'll have to prove that you can't make payments or must move and can't pay off the full loan. You will need to give the bank recent W-2s, bank statements and tax returns, so be sure to have the necessary documentation on hand.

2. Your credit will take a hit.

If the shortfall is forgiven, it won't hurt your credit as much as a foreclosure. But you'll still be hard-pressed to find another lender willing to give you a mortgage anytime soon. In rare cases, you'll be required to repay part or all of the funds; fail to do so, and you run the risk of being sued.

3. You may owe taxes on the debt.

Thanks to a 2007 bill, you won't owe taxes on the amount forgiven if you're selling your primary home. But if it's a vacation home or investment property, you will have to prove to the IRS that you're insolvent (that your total liabilities exceed your total assets), or cough up the money.

Until Next Time,

John C. Palmay
www.thepalmaygroup.com
480-330-9700

How to Spur Spending not Saving....

2009-02-03T10:15:00.005-07:00

Ok this will be my last post on the Bailout but this was a great question or statement that I think would help out our economy rather quickly.

Give consumers debit cards instead of checks?

Question: "The popular response to splitting the bailout money amongst taxpayers instead of the banks is that the recipients will save it, not spend it. Would a government-backed 'debit card' or 'gift card' be an alternative? I feel that it would because it would *have* to be spent and couldn't be saved, as cash could be." - Will Durnan, Scottsdale, Ariz.

Expert: Garett Jones, associate professor of economics, George Mason University

Answer: "That's a great question, and it gets to the heart of what a recession is.Certainly, the government could send out $10,000 debit cards, and the debit cards could have an expiration date so that everyone would have to spend all the money quickly.

But would this be a good policy? If the goal is to raise demand for consumer goods today, then yes, it would help a little. But in this recession as in most, the biggest fall in spending isn't caused by consumers cutting back: It's caused by businesses cutting back.

The big puzzle of recessions is why business spending collapses. Handing debit cards to consumers probably won't do much to get businesses buying more machines, more software and more buildings. In this recession, as in most, it's the collapse in investment that needs the most fixing. So in order to get economists on board with debit cards, you'd have to show that all this extra consumer spending would somehow cure the collapse in business spending. And there isn't much evidence for that idea.

Another important point: While some cash-strapped Americans would quickly use the debit card to spend a lot more than otherwise, most Americans would probably just use the debit card instead of spending their own money.

Let me use an example from my own life: I go to Starbucks a lot. For Christmas, my mom put a Starbucks gift card in my stocking. Did this encourage me to go to Starbucks more often? Maybe a little, but mostly what it did is get me to pay for my coffee with the Starbucks card rather than with my own cash.

Milton Friedman noticed this 'gift card effect' back in 1957. He predicted that one-time tax rebates wouldn't spur much extra consumer spending because most people would just save most of the rebate. Since then, economists have decided he was mostly right. So whether we call it a 'rebate' or a 'debit card,' the effect will be about the same: Outside of the most cash-strapped families, the debit card won't spur much spending.

Ok Until next time,

John C. Palmay

Why can't we split the money among taxpayers?

2009-02-03T09:43:00.002-07:00

Why can't we split the money among taxpayers?

Question: "I often hear, 'If they want to stimulate the economy, why don't they give every taxpayer $10,000?' People would buy cars, go on vacation, pay for college, buy TVs, etc. That sounds great to me. Would it work?" -- Colleen Hargis, Springfield, Mo.

The Answer from Lakshman Achuthan, managing director, Economic Cycle Research Institute

"The government could give money to you or me, and that would create demand, which could be a very good way to break the recession. But you and I are not very confident about the economy, and if you think about what I'll do, there's a good chance I'm going to save it. But the government is looking to have that money get spent and to have it multiplied somehow.

Our economy is based on people spending money. So people saving money doesn't help.For an individual, I would say it's a good idea to build up your savings and to tighten your belt, because there's so much uncertainty about how long the recession will last. But the advice you give to policymakers when you want to revive the economy is to get people to spend money. So I don't think that it would be a good idea to give everyone $10,000. That would preclude some very important triage from happening, such as funding unemployment insurance or getting state and local government financing needs met.

However, I would like the stimulus that comes out to have some support for households."

Expert: David Laibson, professor of economics, Harvard:

"Some economists believe that transfers to individuals will not stimulate the economy, since the recipients will save a large fraction of those transfers. The evidence is mixed. In the short-run (a few months) it is true that a large percentage of the transfer would be saved. However, over the next two years, low-income households would spend most of the transfer. A stimulus package should include both government spending and household transfers, particularly transfers and tax cuts for low-income households

Interesting Questions about the Bailout...

2009-02-03T09:34:00.003-07:00

I am a CNN reader and I found this question to be one that I think most people I speak to have wanted to ask or atleast get more information on.

Question: "If we just gave all the bailout money to taxpayers, how much would we each get? I've seen $25,000, $300,000, $1 million - what's the real answer?" -- Miranda Marquit, Logan, Utah

You might be surprised at the answer but according to CNN.com the answer would be Answer: $9,718.49To arrive at that figure, CNNMoney.com took the total of the bank bailout, $700 billion, and added that to the proposed stimulus spending in the House of Representatives bill, $819 billion. That totals $1.519 trillion.
We then divide that number by 156.3 million, which was the total number of U.S. filers in 2008.
So: $1.519 trillion divided by 156.3 million equals $9,718.49 per U.S. taxpayer.

So my question to you is would that spur enough spending to help the economy out? Would most people use the money to buy a new TV or new Car? Would they just pay-off some old Credit Card debt with that? My thinking is I would rather have it in my pocket then GM or the Banks.

Fed Extends Special Lending Program

2009-02-03T09:30:00.002-07:00

What should not come as a big surprise but the Federal Goverment Extended the Special Lending program today please read below.

WASHINGTON (Reuters) -- The U.S. Federal Reserve extended liquidity facilities for domestic financial institutions and currency swap lines with 13 central banks on Tuesday to keep money flowing in a banking system shattered by the worst financial crisis since the Great Depression.
"Continuing substantial strains in many financial markets" made the actions necessary, the Fed said in a statement.

The Fed said it would extend, through Oct. 30, facilities providing loans and liquidity to the commercial paper and money markets. The U.S. central bank is also keeping open through that date facilities providing loans and Treasuries to primary dealers.

The Fed further said it is extending currency swap lines with Australia, Brazil, Canada, Denmark, England, the euro zone, South Korea, Mexico, New Zealand, Norway, Singapore, Sweden and Switzerland. Japan will consider the extension at its next policy meeting, the Fed said.

The liquidity facilities - the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), the Commercial Paper Funding Facility (CPFF), the Money Market Investor Funding Facility (MMIFF), the Primary Dealer Credit Facility (PDCF) and the Term Securities Lending Facility (TSLF) - and the swap lines had been set to expire on April 30.

Looking to Purchase Domain Names

2008-11-25T11:08:00.003-07:00

I ran across a great website if you are in the Market to purchase a Domain Name for someone this Holiday season. This company also offers other items other then Domain names, like build your own website, Fax to your email service, Free Domain forwarding and many other items all the way up to renting server space.

The website where you can find this is located at www.younamethedomain.com and they also offer 24/7 Customer Service line which is rare in this industry.

Until Next Time,

John Palmay
www.thepalmaygroup.com
480-330-9700

Gilbert Days Information

2008-11-11T19:56:00.001-07:00

Takes place within the boundaries of Freestone Park, utilizing sidewalks, equestrian trails and the main entrance. At the finish line, runners are provided with drinks, a sampling of food products and an opportunity to visit sponsor booths. The event ends with giveaways and an awards ceremony.

Freestone Park1045 E. Juniper AveGilbert, 85234

November 21, 2008Friday, 3:30 PM

PRICE: $10 - $30 : $10-$30 to participate;
Free to watch
PHONE: 480-503-6200
ON THE WEB:www.ci.gilbert.az.us

Gibert Tops the List for Best Place For Kids According to: Business Week.

2008-11-11T19:16:00.002-07:00

What a Great list for the Town of Gilbert to make... According to Business Week, our East Valley Town of Gilbert, Arizona was voted tops on the list of Cities in the United States to live in. That recieved this honor because of all the riparian preserve, skate park, affordability of area homes and school performance .

OnBoard Informatics, a New York-based provider of real estate analysis, set the criterion at towns with at least 50,000 residents and a median family income from $40,000 to $100,000. School performance and safety were most heavily weighted, according to the magazine. Whatever it was based on this is great ink for Gilbert, Arizona.

Until Next Time,

John C Palmay
The Palmay Real Estate Group
480-330-9700
john@thepalmaygroup.com

Chandler Eyesore Goes on Auction Block

2008-10-23T23:51:00.004-07:00

Elevation Chandler, an uncompleted high-rise development near the convergence of the Loop 202 San Tan Freeway and Loop 101, will be auctioned off as part of a bankruptcy proceeding.

Developer Jeff Cline broke ground in 2005 on what was to be a luxury hotel and condominium project on 10.5 acres of land just south of the Chandler Fashion Square mall. But Cline ran out of money in 2006 and has been unable to restart it in any significant way.

The land and the skeleton of a development gone bad was scheduled for auction earlier this year, but Cline’s Chapter 11 bankruptcy filing in April put the auction on hold until now.
Speculation now centers on what can be salvaged. In a press release distributed Wednesday by Marcus & Millichap, the brokerage noted, “It is expected that a substantial debt discount will occur at auction on the collective property, which is approved and ready to build out with lien free title to the buyer.”

Originally, Cline estimated the project’s build-out value at more than $200 million. During the past two years, the as-is value has ranged from a low of $16 million to a high of $60 million, according to published reports. The final auction bid might be even lower, given that land values have dropped in the Phoenix area and demolition costs might be substantial.

According to Marcus & Millichap officials, the total successful build-out would be valued between $250 million and $350 million. “This hospitality/office mixed-use property will be the first complex in the greater Phoenix area that would combine a four-star boutique hotel, meeting and convention space, fitness and social club, luxury day spa, food and beverage venues and optional small number of luxury condominiums along with a new addition of 600,000 square feet of class A office towers in one cohesive environment,” the statement read.

Any bets that this thing will have to be knocked down to the ground and create yet another eyesore. Would still be a good spot for a hotel, I have .50 to throw at it, who else wants to go in with me?

Until next Time....

John Palmay
The Palmay Real Estate Group
480-330-9700
azrealtorjp@gmail.com

Arizona Home Town Airline 865 Million Loss this quarter

2008-10-23T23:43:00.003-07:00

US Airways Group Inc. cites high fuel prices for a third-quarter loss of $865 million, or $8.45 per diluted share. In the same period last year, the carrier earned $177 million, or $1.87 per diluted share.
The latest quarter saw $632 million in special charges, which included a $488 million unrealized net loss from the airline’s fuel hedge contracts, which lock in fuel prices.
Excluding one-time items, US Airways lost $242 million, or $2.35 per diluted share, in the latest quarter.
“Our third-quarter loss reflects the crippling fuel price environment that US Airways and other airlines faced this summer,” said Doug Parker, chief executive. “Fortunately, oil prices have recently fallen to levels well below those experienced in the third quarter, but at the same time concerns have increased about the impact the global economic crisis may place on demand for air travel.”

Ok I am just wondering what they will be saying next month when we don't have the high fuel cost, you think that checked baggage fee will go away..... NEVER once they got used to charging it we will always pay for it... Next is the Carry On Baggage Fee about $2.00 bucks lower then the Checked. I bet it will happen... Until Next time.

AZ Foreclosures Continue to Rise

2008-10-23T23:39:00.002-07:00

Arizona continues to be plagued with one of the highest home foreclosure rates in the country, but the September number has fallen slightly since August.

RealtyTrac’s U.S. Foreclosure Market Report shows Arizona in September had the fourth highest foreclosure rate, and the fourth highest total number of foreclosure filings of any state.
Foreclosure filings — which include default notices, auction sale notices and bank repossessions — were reported on 265,968 U.S. properties in September, a 12 percent decrease from August, but still a 21 percent increase from September 2007. One in every 475 U.S. housing units received a foreclosure filing in September.

Arizona had the fourth highest state total in September, behind only California, Florida and Nevada. Nearly 13,000 properties received a foreclosure filing — a 9 percent decrease from August, but 61 percent higher than September of 2007. That equates to one filing for every 201 Arizona homes.

How To Get Your Free Credit Report

2008-07-09T23:19:00.004-07:00

I always like to give out good information on my Blog posting's and this one is very useful for anyone who would like more information about how to get a "FREE" (and it is FREE) copy of your credit report. This site will not trick you into a 2 year contract when all you really wanted was a copy of your credit report.

All Americans are entitled to free credit reports every year from each of the three major credit bureaus. The credit reports used to cost as much as $9.50 each.

The three major credit-reporting agencies, Equifax, TransUnion and Experian, are each required to provide consumers, upon request, a free copy of their credit report once every 12 months.
The reports will not be sent automatically. Each consumer must request reports one of these three ways:

Go to AnnualCreditReport.com, which is the only authorized source for consumers to access their annual credit report online for free. Call (877) 322-8228 .

Complete the form on the back of the Annual Credit Report Request brochure, and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The brochure, which can be ordered or printed, is available from the Federal Trade Commission. Click here for more information.

I hope you found this post useful.

Until Next Time,

John Palmay
Realtor, Chandler Arizona
480-529-9063
http://www.thepalmaygroup.com/

Your Credit Score and Stuff that Effects It.

2008-07-09T23:12:00.003-07:00

I found this Article on MSN.com and it talks about the weird stuff that most people don't realize how it effects your credit rating.

http://articles.moneycentral.msn.com/Banking/YourCreditRating/YourCreditRatingDyn.aspx?cp-documentid=6121840

I hope you take the time to read it as I thought it had a few good points of information in it.

Until Next Time,

John Palmay

By the way if you haven't checked out my website in a while I added a spot where I am going to start doing Live Real Estate Webcast and I hope to take calls live over the web. Stay tuned for more information.

Arizona Foreclosures

2008-06-19T18:22:00.004-07:00

Just a quick word of caution when dealing with Foreclosures in Arizona and really any State where you are using an "Auction" type company. I have been hearing of many horror stories of title issues coming up later down in the process that are taking at times months to get cleared up. Now of course the banks aren't telling you this and many times they might be unaware of any issues with the title.

So "Buyer Beware" makes sure you check out this and other legal areas before you proceed to bid on a property, of course I will tell you to use a professional realtor, or a real estate attorney if you are not sure of the laws.

One other hint is to make sure that the past dues on the HOA are cleared up before the property is in your name because I had 3 people write me to tell me that after they closed on the house they received a nice large bill from the HOA Company.If you are a BUYER make sure you are protecting yourself.

John C. Palmay
Realtor
http://www.thepalmgroup.com/

Chandler, AZ , Ups Bus Service due to Gas Prices.

2008-06-19T17:38:00.003-07:00

A 50 percent expansion of city bus service with links to light-rail stops in Tempe and Mesa will give Chandler commuters more options - and relief from soaring gas prices - by year's end.

"People are getting very concerned about gas prices, but we've been planning this for years," city transit manager Mike Normand said. "Nobody anticipated fuel prices going up as much as they did as quickly as they did."

When light rail starts Dec. 29, "Chandler residents will be able to get almost anywhere in the Phoenix metro area by mass transit," he said. Buses on Chandler's major north-south thoroughfares will carry passengers to light-rail stations, and some of those routes will be extended July 28 to reach south Chandler, Tempe and Scottsdale.

They include new service on south Dobson and Kyrene roads and an express route from downtown Chandler to Scottsdale Airpark. Most of the $5 million annual cost for the expanded service comes from a voter-approved transportation sales tax; the city's share this year is $650,000, Normand said.

The number of miles buses travel in the city every day will increase next month to 1.1 million, from 704,648, and annual passenger boardings are expected to nearly double - to 1.3 million, from 690,000. Residents can expect a bus rapid transit line along Arizona Avenue by 2010, Normand said.

The city is seeking public suggestions for its transportation future at a 6 p.mmeeting Wednesdayin City Council chambers, 22 S. Delaware St. Information: 480-782-3440.

John Palmay, www.thepalmaygroup.com

Sweet Idea... Great Gilbert Charity Event

2008-06-19T17:27:00.003-07:00

Ten-year-old Jacob Ruiz of Gilbert will open a lemonade stand Saturday, like a lot of kids do in the summer. But all of the money that Jacob makes will go to Arizona Chihuahua Rescue instead of his pocket.
Jacob is one of 1,000 children across the country, including at least 18 in Arizona, who will be taking part in the "Pink Lemonade Brigade," a fundraiser sponsored by Crayons All Natural Beverage Co. of Bellevue, Wash.

During the one-day event, children in 46 states will sell lemonade to raise awareness and money for charities they think are important, said Crayons CEO Ron Lloyd

In Arizona, kids are raising money for the West Valley Child Crisis Center, Arizona Humane Society and Boy Scouts of America, among other charities.
Jacob wanted to help abandoned Chihuahuas, of which his family has three: Carmela, Tinkerbell and Chloe.

His mother, Roxanne Ruiz, said her son is learning valuable lessons from the lemonade stand, such as marketing and salesmanship - Jacob came up with the idea of raffling a toy stuffed dog to raise even more money for the charity.

But most importantly, she said, "I want him to feel good about helping with something that he cares about."

Jacob has done this kind of thing before, boxing supplies for the homeless and giving money he was saving for Disneyland to a girl at school with cancer.

"I don't really like spend- ing my money on me. I like doing stuff for other people," Jacob said. "It makes me feel good."

With the help of his little brothers, 8-year-old Dallon and 6-year-old Garrett, Jacob is decorating his lemonade stand to look like a doghouse. He'll operate the stand from 9 a.m. to noon Saturday at Petco, 1015 E. Baseline Road, Gilbert.

Crayons supplied kids who signed up with a free cardboard stand and 120 free cans of Tickled Pink Lemonade. (Crayons, which manufactures healthful beverages, is not affiliated with Crayola.) The kids decided which charity would receive their proceeds.
The idea came from Lloyd's 7-year-old son, Connor. He and his dad had been talking about helping other people.

In early April, Connor decided on his own to set up a lemonade stand on his street. To draw attention to the operation, he dressed up in a baseball uniform; his 4-year-old brother, Tyler, wore a pinstriped suit; and his 2-year-old sister, Jordan, was a cheerleader.

"With that kind of marketing, nobody could drive by without stopping," Lloyd said.
Connor raised about $100 for an orphanage.

Like any dad, Lloyd was so proud of his son that he told his co-workers. Someone suggested that the small company offer other kids the chance to do the same.

"It's really about empowering kids to give back to the community," said Lloyd, who lived in Scottsdale from 1986 to 1988.

He hopes it sparks conversations between kids and parents about what else they can do to make a difference in their communities.

In Tucson, 10-year-old Meagan O' Neal and her 8-year-old brother, Braydon, are selling lemonade to raise money for the Lighthouse/City YMCA, where the kids attend day camp.
Braydon, who just learned how to count money in second grade, will be in charge of the cashbox. Meagan is decorating the stand.

"It's a wonderful project for them," said their grandmother, Cecilia Hall. And what better time to do it than when they're out of school for the summer and it's blazing hot outside.

Copied by John Palmay, www.thepalmaygroup.com

2007 Energy IQ Survey

2008-05-24T21:53:00.001-07:00

2007 Energy IQ Survery !!

At a time when millions of Americans are focusing on energy issues and policies, a new survey finds that most U.S. adults have a fundamental lack of knowledge regarding energy demand and supplies and the role of America's oil and natural gas companies. In fact, when presented with 20 multiple choice questions, on average more than 25 percent of respondents said they were "not sure," and in many cases people chose the response that is farthest from the correct answer. Among the survey's key findings:
Those surveyed greatly overestimate the amount of oil the United States imports from the Middle East.
When asked which country was the largest U.S. supplier of oil, almost 60 percent chose Saudi Arabia, which is one of the largest suppliers, after Canada. Only one in 10 people correctly identified Canada as the largest supplier to the United States.

Only eight percent correctly noted that less than 15 percent of the oil the United States consumers comes from Persian Gulf countries; just over one-quarter of people pegged the figure between 46 and 60 percent – three to four times higher than the actual figure.
Americans seriously overestimate the size of U.S. oil and natural gas companies relative to competing companies that are owned by foreign governments.
When asked "What percentage of the world's 10 biggest oil and natural gas companies are owned and operated by foreign governments?," only two percent of respondents knew that all of the top 10 companies fall into that category.
Similarly, only eight percent knew that ExxonMobil, the largest U.S. oil and natural gas company, was not among the top 10 largest oil reserve holders. More than one in three people (36 percent) thought ExxonMobil was among the top three largest companies.
The public underestimates the continued importance of fossil fuels in meeting global energy demand in the next 25 years, and overestimates the impact renewable sources will have in meeting that demand.
While the International Energy Agency projects that 81 percent of global energy demand in 2030 will be met by fossil fuels like oil, natural gas and coal, only 14 percent of respondents chose this answer. The majority thought it would be 61 percent or less.
While the U.S. Energy Information Administration projects that less than 10 percent of U.S. energy use will be supplied by renewable sources in 2030, only five percent of respondents chose this answer. More than one in three people (34 percent) thought renewable sources would account for 20 percent or more.
People overestimate the profits of U.S. oil and natural gas companies and have very little understanding of the significant investments these companies are making in emerging energy technologies.
On profits, 42 percent of respondents guessed that the industry earned between 16 and 20 cents on every dollar of gasoline sales in 2006. In fact, the industry earned 9.5 cents – a choice (6 to 10 cents) selected by only 14 percent of respondents.
On investments, only seven percent correctly estimated that U.S. oil and natural gas companies invested almost $100 billion in emerging energy technologies in North America alone between 2000 and 2005. More than one third estimated less than $25 billion, the lowest possible choice.

Energy Demand Rising !!

2008-05-24T21:51:00.001-07:00

Demand for energy is rising around the world, according to the U.S. Department of Energy and the International Energy Administration. Data show global demand for oil and natural gas will likely grow 45% by 2030 compared with 2006. The Department of Interior estimates there are 112 billion barrels of technically recoverable oil beneath U.S. federal lands and coastal waters. That’s enough oil to fuel 60 million cars for 60 years, when you take into account the average yield of gasoline from a barrel of crude oil and the average number of gallons of gasoline consumed annually by a passenger vehicle.
Want to learn more about the ownership of oil and natural gas companies? Check out the study results

Gas Prices !!! Get Real Everyone

2008-05-23T11:43:00.000-07:00

Ok haven't we suffered enough already... I mean the price of gas is shooting up faster then ever before, this is just great for the economy. Soon no one is going to able to afford to drive to work and it will really cripple the USA.
Wake-up people, haven't we had enough already, we can do something can't we? Or is it too far out of our control? I think we can, it is time for all of us to gang together and have a NO-Drive DAY, yes all it would take is 1 day and we can make an effect on the price at the pump. I realize that this is nearly impossible to do, but some how as a nation we need to come together.
Now I just have the voice of this one BLOG, but I would be happy to put together a website or something that would get National exposure. I would even think out friends in England, over that great big pond called the Atlantic Ocean would find a way to join in with us.
Now the Oil Companies are saying that they are raising the Price because Demand is up. I find that hard to believe but that is what they keep saying. After all who is keeping tabs on the Oil companies anyway, our Congress, that is a joke. All they can do it bring all the Oil companies heads into Washington and tell them that they are making to much money. The last time I checked we can't tell a company how much is too much. I wonder if Congress will bring Brad Pitt to Washington and tell him he shouldn't make 20 Million per movie, or Rush Limbaugh's company making 30 Million a year.
So what is the answer? I am not sure either, the only thing we can do is use less, and force them to have to much inventory then I wonder what the excuse will be for the alleged supply and demand theory.
I am OPEN to any suggestions, I would love to write more but I have to go fill my SUV up before the price goes up another .10 cents over night and then I am just going to park it and use that gas for my other car. Heck I might as well fill up my boat tank and use that as my own fuel tanker also. At least I will have under $4.00 a Gallon of Gas for a while.

Arizona Priciest Home Sales

2007-03-14T23:44:00.000-07:00

An Avnet Inc. chief information officer, an owner of a grocery and pharmacy chain, a former NBA player and a president of a gas station corporation are among the buyers and sellers in this week's priciest home sale. $4,100,000. Ralph Thomas and his wife, Carolee, of Beverly Hills purchased this 6,711-square-foot home with 700-square-foot pool originally built in 1981 in the Finisterre area of Paradise Valley. Sellers were Robert W. Mason and Eloise A. Mason as trustees of the Robert W. Mason and Eloise A. Mason Trust. Robert is a former CIO of Cendant Corp. who became vice president/CIO of Avnet Inc. in March 2002.
$3,850,000. Donald Haggen and his wife, Kathryn, of Bellingham, Wash., paid cash for this new home in the Cochise/Geronimo Village at Desert Mountain in Scottsdale at the Desert Mountain-Geronimo Golf Course. The purchase includes a $325,000 deferred equity golf membership. Donald is the former president, chief executive and still an owner of the Haggen Co., a chain of grocery and pharmacy stores in Washington and Oregon. Kingston West LLC, whose sole member is Robert E. Webster of the Bayfield Development Co. in Wilmington, Mass., sold the home.$3,685,000. Danny Schayes and his wife, Wendy, of Scottsdale, purchased this 5,171-square-foot home originally built in 2002. Danny played in the NBA for 18 years before becoming an entrepreneur and a broadcaster for cable network TNT and the Seattle SuperSonics. Gregory D. Hague sold the home, just west of the Gainey Ranch Golf Club. Hague is president and CEO of Hague Inc., a real estate investment firm that specializes in high-end homes mainly in Paradise Valley. $3,575,000. This 5,508-square-foot home with 411-square-foot pool originally built in 2005 was purchased for cash by Christopher Harding and Vicki Henry of Greenwood Village, Colo., as co-trustees of the Christopher Harding Trust. Shawn Johnstun and his wife, Dawn, sold the home in the Desert Mountain Area of Scottsdale on the western side of the Desert Mountain-Cochise Golf Course. $3,350,000. This 7,140-square-foot house with 486-square-foot pool originally built in 2005 was bought for cash by Michael L. Kapanicas and his wife, Vivian, of Phoenix. Michael is president of Superpumper Inc., a chain of 12 gasoline service stations in Phoenix and Scottsdale. R. Phillip Rasmussen, founder of Utah-based Amsco Windows, and his wife, Linda, sold this home west of Camelback Golf Club.
John Palmay
Realtor
480-529-9063

Researched by John McLean and the Information Market.

2007 Ostrich Festival = Sinus Infection

2007-03-11T23:38:00.000-07:00

I just got back home with my family from the 2007 Ostrich Festival in Chandler Arizona. We arrived at the Chandler Festival around 5:00 pm and were fortunate to get a front row parking spot. I have to say I was a bit surprised that they were charging for parking, I am sure this was one of the better profit center for the Festival though.

I really only came away with one complaint about the evening, the Dust.... I am not sure whether they watered down the fair grounds at night, although they were watering down the parking lot. But the dust was flying around the rides so next year I would suggest that try to address that issue. I am sure I will have a Sinus Infection in the morning...

John C. Palmay
Realtor
480-330-9700

Have you got a Minute....

2007-02-28T01:03:00.000-07:00

This was a Great article I read today that says a lot about how we live our daily lives.... I copied and pasted it to my site thanks to E.J. Montini Arizona Republic columnist.

Have you got a minute?No, of course you don't. If you had a minute, you would have made some coffee at home this morning and enjoyed it over a leisurely conversation with your spouse and kids rather than hitting the drive-through lane at Starbucks on your way to work.

If you had a minute, you might have actually parked and gone inside the Starbucks.If you had a minute, you wouldn't have been mumbling to yourself about the so-and-so in the car ahead of you in the drive-through line who appeared to be purchasing beverages for his entire office (probably because none of them had a minute to stop).

If you had a minute, you wouldn't have spent the entire time you were driving to work and in line at Starbucks talking on the telephone with clients or co-workers, but instead would have waited to make the calls when you were at the office, sitting at your desk, sipping the day's first cup of coffee.

And, of course, if you had a minute, you wouldn't have been one of the 263 drivers who triggered the speed-enforcement cameras on Scottsdale's portion of Loop 101 in only the first 12 hours they were back in operation last week.

And you might have thought to leave your name and telephone number on my answering machine when you called (from your cellphone, while driving, I'd guess) to complain about the camera flash that appeared to have nailed you as you were rushing to work on Loop 101.The message you left for me was, "Why don't you write about the idiot politicians who have nothing better to do than to put up these stupid cameras and hassle people whose only crime is trying to get to work?"You hung up before identifying yourself.If you had a minute or, better yet, if you took a minute, you'd realize that the millions of dollars that will be collected in speeding tickets on this particular stretch of Loop 101, as well as the millions of words that people have spent arguing about whether there should be speed cameras on the road or not, are all about saving, roughly, one minute.

A speeder who decides to treat that stretch of seven or so miles of the Loop 101 as if it were Arizona's version of Germany's Autobahn risks an expensive traffic ticket, risks his or her life and saves about 60 seconds in driving time.The speed-enforcement cameras don't activate unless a driver is going 11 miles over the speed limit, or 76 mph. Crank it up to 85 mph and you'll get through the Scottsdale portion of the highway about a minute faster.

Driving the speed limit, on the other hand, affords you a few extra moments to enjoy the great dome of Arizona's sky and the ragged silhouettes of mountains to the east and north.I've had occasion within the past week to write about a man for whom time is more precious than it is for you or me.

His name is Joseph Feldman and he's got maybe a few months to live. Terminal cancer.He told me Monday that he doesn't count on having entire "good days" anymore, but instead looks forward to whatever hours or minutes of relatively pain-free existence that he gets.He and his family went to Las Vegas for a few days recently and he said, "There were a couple of long glorious hours when I was just a guy at a gambling table. I wasn't dying of cancer and no one was asking me how I'm doing."Feldman has much to do before he leaves this world and therefore has every reason in the world to rush. But he figured out recently that when time is really short the most valuable thing that a person can do . . . is slow down.

Last Week's Biggest Real Estate Deals in Arizona

2007-02-27T19:17:00.000-07:00

A Scottsdale developer, an investment company partner and a medical doctor are among the buyers and sellers in this week's priciest home sales.$5,860,000.

Ira Gaines of Phoenix, manager of Peachtree Partners, an Arizona limited liability company, purchased a home in Biltmore Estates on the south end of the Arizona Biltmore Adobe Golf Course in Phoenix. Paul J. Dvorscak sold the property, which he bought in 2004 for $3.2million and then renovated. The 8,586-square-foot home features a 26-by-18 foot master bedroom with separate shower and tub with jets and bidet, three additional oversized bedrooms with playrooms and computer rooms nearby. It has a guest house, family room, great room, library with built-in bookcases, a game room, three fireplaces, an exercise/sauna room, separate workshop and 594 square-foot pool.Dvorscak also was named in this column for selling a Paradise Valley property for $2.6million in 2005.

$2,495,000. Carol A. Patterson of Mesa bought a home in Mesa's Crossroads Estates south of Gene Autry Park from Bryan L. Faith and his wife, Sharon. Their home was the site of a Christmas Idea House & Home Tour in December 2005, which was sponsored by Members of the Desert Club, a non-profit Valley women's organization, which made and sold items for gifts to raise money to fund college scholarships for local students and benefited several local charitable groups.The Faiths remodeled and redecorated the home in French Revival style, featuring a European-style living room with olive-colored walls and a coffered ceiling with gold wallpaper. It has a furniture-style kitchen island, which features ornate legs and a walnut top. The 4,900- square-foot home on a 2.5-acre lot has a home theater and a 1,100- square-foot guesthouse.

$2,172,900. Guy W. Williams and Susan L. Williams, as trustees of the Williams Family Trust, bought a home in Scottsdale's Desert Highlands south of the Desert Highlands Golf Club. PHG Asset Management and Development Co. LC in Scottsdale, whose members are Kevin J. Palmer and Gretchen L. Palmer, sold the 6,025-square-foot home with 373-square-foot pool, originally built in 2000.

$1,854,797. Christopher P. Hinkson and his wife Shannon of Scottsdale bought a new home in Scottsdale's DC Ranch south of the Country Club at DC Ranch. Camelot Homes Inc. of Scottsdale built the home. Chris Hinkson is one of three partners in Diversified Partners, the Scottsdale firm that developed the Santan Gateway North and South centers.

$1,816,730. Jason M. Barclay-White and his wife, Rachael of Scottsdale bought a new home on the Terravita Golf Course south of the Terravita Golf Club in the Saguaro Estates area of Scottsdale. Jason Barclay-White is a medical doctor who began practicing in Maricopa County in 2005. Toll Bros. AZ Ltd. built and sold the house.

John Palmay - Realtor
480-529-9063
www.thepalmaygroup.com

Unconventional Home Sales Routes in AZ?

2007-02-27T15:10:00.000-07:00

With the housing market lagging and homes taking months to sell, a Scottsdale-based company is betting homeowners will be eager to try a more unconventional route to successful sales - the auction.

National Real Estate Auction Corp. will host a massive real estate auction in downtown Phoenix next month, offering everything from starter homes to multimillion-dollar estates. Home auctions have been around for decades but have gained popularity as an alternative tool for selling in a slow market where competition is tough.

Valley wide, there are more than 45,000 properties on the market - at least 10,000 above the norm. Auction signs attract attention, said John McCann, one of the company's founders. "It creates a lot of buzz and excitement about the property," he said. McCann hopes to have more than 100 homes at the Valley auction, which will take place March 24 at the Phoenix Convention Center.

So far, the company has 27 properties listed with prices ranging from the $100,000s to more than $3 million. It's also in talks with 30 homeowners and three builders. If the first auction is successful, the company will likely continue holding auctions every 60 days or 90 days, Riley said.

AZ Real Estate

2007-02-27T14:53:00.000-07:00

The Arizona Real Estate Market is moving like a snail compared to what it was a 2 years ago. But if you are a Buyer it is great news, you have many many choices and you also can get very creative with contract offers.

John Palmay, Realtor with The Palmay Realty Group, says that most offers that he reviews the buyers are asking for Closing Cost and a rather big reduction in the sales price. He also states that now is the time to use a Realtor when Buying a home," he or she might be a bit more savy when it comes to the Real Estate Contract". You can get very creative even having the Seller buy down a point for you on your loan. This is a cost saving's on both sides and a tax deduction for the seller.

The Chandler Real Estate market, although slow still remains steady when compared to other areas of the State.

John Palmay -
Realtor
480-529-9063
www.thepalmaygroup.com

Commerical Market Hot in Phoenix

2007-02-27T14:21:00.000-07:00

Office-complex dealings in Valley reaping millions

Activity in the commercial office sector continues, with several buildingsbeing sold recently, each for more than $40 million. "What's unusual about thesetransactions is the velocity at which they all occurred and the fact that somany of the Valley's top office assets changed hands at roughly the sametime,"said Jim Fijan, one of two brokers at CB Richard Ellis' Phoenix office who worked on four of the deals just announced.

Of those four large officebuildingsales, the largest was the $63.2 million sale of the Hayden Ferry Lakeside Ibuilding at 80 E. Rio Salado Parkway in Tempe.

The other big deals were:

The Scottsdale Class A office building that houses DR Horton and otherbusinesses sold for $53.3 million this month.
The 175,191-square-foot property at 16430 N. Scottsdale Road sold to Pacific Life Insurance Co. The seller was UBS Realty Investors LLC.*

Paradise Valley Corporate Center sold to Pacifica Real Estate Group for$52.5million. The 198,501-square-foot building at 4835 E. Cactus Road inScottsdalewas sold by Maier Siebel Baber of San Francisco, who was represented byFijanand Roberts.*

Gainey Center II, at 8501 N. Scottsdale Road in Scottsdale, sold for $50.6million to Invesco Real Estate in Newport Beach, Calif. The seller was KBSRealty of Newport Beach, represented by Fijan and Roberts.*

The Airport Technology Center buildings at 4127 and 4129 E. Van Buren St.inPhoenix sold for $45.75 million to Arden Realty in Los Angeles. The seller,also represented by Fijan and Roberts, was LBA Realty of San Diego

John Palmay - Realtor
480-529-9063
www.thepalmaygroup.com

Cardinals QB, Matt Leinart, buys home in Ocotillo part of Chandler.

2007-02-27T14:15:00.000-07:00

Arizona Cardinals quarterback Matt Leinart is bringing some of his Hollywood vibe to Chandler.Leinart, a former University of Southern California star and Heisman Trophy winner, paid $2.3 million for a nearly 5,400-square-foot house in the upscale Ocotillo area of south Chandler. He bought in a gated lakeside spot called Oakwood Hills that's big on greenery, water and large, expensive homes.
John Palmay of Keller Williams described the area as an "exclusive enclave" of 32 multimillion dollar estates overlooking waterfalls, streams and a 14-plus acre lake. The house itself sits on more than an acre and features a 65-foot stream. It has four bedrooms, 3.5 baths and was built in 1996. Much of the house, such as floors, fixtures and paint, is new or refinished. It also is close to the Cardinals' complex in Tempe, where the team practices.Leinart is starting to rack up property. He paid $2.4 million last summer for a 5,900-square-foot "Tuscan villa estate" with six bedrooms, 6.5 baths, a wine cooler and a game room in the Ahwatukee Foothills. And developers of a proposed downtown Phoenix condo tower called Cielo Phoenix say Leinart will buy there.
Looks as though Matt Leinart is not only a good QB but also a good Real Estate Investor.

John Palmay - Realtor
480-529-9063
www.thepalmaygroup.com

800 new jobs to Phoenix

2007-02-27T14:09:00.000-07:00

Phoenix celebrates a coup: 800 jobs, , reports that a day after losing a bid to get US Airways' 600-employee flight operations center, Phoenix landed a major employer offering skilled, high-paying jobs: W.L. Gore & Associates. The company, known for making water-resistant clothing, is expanding its operations to 19th Ave. and Happy Valley Road and looking for north Phoenix land for a future campus, employing 800 new people. Phoenix officials hailed the expansion as evidence that the city and state's $1.4 billion investment in bioscience is paying off. The company said it wants to expand in Phoenix because of the city's large workforce, proximity to major airports and investment in bioscience education and research.

John Palmay - Realtor
480-529-9063
www.thepalmaygroup.com

In a city of wannabees, builder can rise above

2007-02-27T14:03:00.000-07:00

Most of the private condo projects announced for downtown Phoenix are phantoms: towers announced with pretty renderings and sales offices but with little chance of becoming a reality. But 44 Monroe, being developed by Grace Communities, is the real deal. It is 60% sold out and well out of the ground. It will have 34 stories and be among the tallest buildings gracing the downtown skyline. It is one of several projects that Grace plans for the downtown area. "Maybe we see things that other people can't," said Jonathon Vento, one of Grace principals, when asked why his project is happening when so many others have fallen away. The partners now have plans for the historic Professional Building at Central and Monroe, for years the headquarters of Valley National Bank and topped by a giant revolving VNB sign. Grace purchased the building two years ago and has been quietly working with the city and historic groups to revive it as a boutique hotel. In addition to 150 rooms, plans call for a rooftop "sky bar" and another bar in the giant vault of the basement. To the east of the Professional Building, Grace hopes to build a tower of more affordable condos and apartments. "We think Phoenix is the greatest city in America," Vento said. "Right now, you could draw a curtain around downtown and pull it back in three years, and it will take people's breath away."

John Palmay - Realtor
480-529-9063

Popular Dairy in Chandler, AZ is turning to homes

2007-02-27T13:54:00.000-07:00

RC Dairy, a fixture near Dobson and Germann Roads in Chandler that has been there for three decades, is closing. Tonight, the Chandler City Council will vote to allow Maracay Homes to build 101 homes on the 38-acre dairy site and remove a land-use restriction that requires a buffer zone between homes in nearby Clemente Ranch and the cows. Dairy owner Richard Dugan, who was Chandler's mayor from 1988 to 1990, declined to talk about the sale of his farm or the rezoning. But he was considered a good neighbor, allowing public tours of the dairy and having a petting zoo and gift shop for visitors.

John Palmay
Working The Chandler Arizona Area
Realtor - 480-529-9063

Home Loan Low / Rates Down

2007-02-27T13:52:00.000-07:00

Home loan demand is lowest this year, despite drop in mortgage rates –
Mortgage applications dropped more than 5% last week, hitting their lowest level this year, even as interest rates fell, the Mortgage Bankers Association said Wednesday. Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.19%, down 0.05 percentage point from the previous week. That was slightly below the year-ago average of 6.22%. The MBA's seasonally adjusted purchase index fell 4.8% to 381.4, lowest since the week ended Oct. 27, 2006, when it stood at 375.6. The index was also below its year-ago level of 408.7. The purchase index is considered a timely gauge of U.S. home sales. Fixed 15-year mortgage rates averaged 5.88% in the most recent week, down from 5.94% the week before. Rates on one-year adjustable-rate mortgages, or ARMs, increased to an average 5.81% from 5.80%.

Luxury lakeside apartments take creative approach

2006-12-16T13:26:00.000-07:00

Gray Development Group has hired Sugar Creative to market Grigio, a $125 million luxury rental complex on the north shore of Tempe Town Lake.

The challenge, officials with both companies agree, will be marketing a concept versus a product. Grigio sounds more like a five-star resort than a rental property.

Renters will have a choice of 48 floor plans from studios to units with lakeside views. Monthly rent will range from $900 to $5,000 for apartments from 600 square feet to 3,000 square feet in size.

Tenants will have access to delivered dining, in-home spa treatments, a two-level 24-hour health club, poolside cafe and coffee service, a boutique and wine shop, and a rooftop deck.

Dolores McKay, brand manager for Gray, said it's tricky promoting a lifestyle.

"We wanted to offer a one-of-a kind, useful living alternative in a market saturated with condos," McKay said.

Gray Development, McKay said, took nine months to test what renters wanted, figuring out what's best about resort living, best about condominium living and alternatively, the limitations that come with those options.

The company picked Tempe Town Lake, "because Tempe is so forward looking," she said.

To sell what McKay describes in such terms as "new product," "new brand," "lifestyle" and "vibrant," Sugar Creative will have to tell, not yell the message, said Peter Juergens, managing director of the Phoenix-based marketing and Web firm.

"We want to tell a story," Juergens said, noting that his company is working on delivering the message by focusing on the "experiential."

From interactive marketing to signage, it is about building trust with consumers and eventually the people who live at Grigio "will become the brand, tout the brand and become the voice of experience," he said.

Branding strategy development will culminate in the next two weeks, and by early next month, Juergens said, "you'll be seeing lots and lots out there."

Grigio is under construction and set to open during the first quarter of next year.

50,000 work in Scottsdale Airpark Area

2006-12-16T13:25:00.000-07:00

The development of 11 large office buildings in the Scottsdale Airpark area has pushed employment beyond 50,000 jobs, a benchmark that observers thought was at least 4 years away. Scottsdale Airpark's growth is spread over 2,900 acres, roughly northwest of Cactus Road and Loop 101 and includes Kierland and adjacent commercial areas on the Phoenix side of Scottsdale Road. It is one of Arizona's largest employment centers, along with downtown Phoenix and the area surrounding Sky Harbor Airport. Jim Keeley, a commercial Realtor specializing in the Scottsdale Airpark area, predicts 55,000 jobs by 2010. Keeley said the area's commercial real estate market is starting to show signs of leveling off, with land prices holding at about $25 to $30 per square foot since 2005. He noted that in typical cycles the commercial market trails the residential sector by 18 to 24 months.

Home Loans

2006-12-02T13:00:00.000-07:00

I ran across a Website that I think can help homeowners and future homeowners understand the borrowing process for a home loan. The information in this website (home loan mortgage) helps consumers fully understand the ins and outs of borrowing intelligently.

Today’s consumers have many choices and that is why I think this website is so important for everyone to review. This also would include you if you are in the market to re-fi your current loan. This site will give you the questions that you need to ask your mortgage consultant to make sure that he is giving you all the information that you deserve.

I will pass on more information to you as I find it.

Until next time,

John C. Palmay

Vegas Baby

2006-12-02T12:55:00.000-07:00

Las Vegas –

I was shocked to see that so many people are still moving to Las Vegas. According to the current stats there are about 5,000 people who move to Las Vegas each month. Try to rent a U-Haul to Las Vegas or from Las Vegas. You will see that getting U-Haul from Las Vegas is very inexpensive, because many more people are moving to Las Vegas. Las Vegas is very tough and competitive city, but it also has a lot of opportunities to make money. Nevada is very business friendly state. Most of the people who are moving to Las Vegas usually rent a house to start and later buy they own. Check out some of these homes that are available for rent check: http://www.millionsaver.com/rentals/ Resale homes listed by agents:http://www.millionsaver.com/search-resale-homes.htm

If you think you are in the market for a New Build or perhaps a Spec home that is 95% percent complete then checkout this link. BUT PLESE PROTECT YOURSELF, always take a Licensed Realtor with you, remember the builders sales person works for the builder, a outside licensed realtor with Keller Williams will protect you. Here is the link for the new builds http://www.millionsaver.com/new-homes.htm
New homes are offering plenty of incentives, like paid closing cost, free upgrades, down payment assistance, etc. See this page for some examples: http://www.millionsaver.com/new-homes.htm

If the above links didn’t work for some reason try this one. Las Vegas real estate

Appraisals - EPPRAISAL.COM

2006-12-02T11:59:00.000-07:00

I think the number one question I get from homeowners is what is the current value of my house and many of my clients ask me this month over month. Although I am always happy to give me opinion by looking at the lastest information in my Real Estate Software I had always wished that an outside company would come up with some type of 3rd party rating that was reiable.

Well today I am happy to tell you about EPPRAISAL.COM, this site makes it easy for anyone to check the value of a home that they are interested in Selling or perhaps even buying. Here is the link to this site property appraisal
I have had clients use this service and come back to me and thank me since it is so easy to use, I like the Service because it gives my clients a 3rd party opinion that I can rely on also. So if you are searching for an easy place to find out the value of your home this might just be the site for you.

Here are some facts that I copied and pasted from the website: - eppraisal.com data is updated daily and pulls from a database of 70,000,000+ homes - Integrated maps and birds-eye view of the property. eppraisal.com takes the mystery out of home valuations by gathering recent real estate information and providing users with an estimated value range on what their property could be worth. You can use eppraisal.com for a quick and easy way to find out the essential information on any property in the US.

I hope this information helps you out if you are looking for the value of your home.

Until next time,

John C. Palmay

How to find a Mortgage Advisor You Can TRUST !!

2006-11-30T13:27:00.000-07:00

Ok, so you're ready to purchase a home.

Well before you shop for a home you should be shopping for your home mortgage, after all most of us don't have that kind of cash under our pillow or in the bank. You have to make sure that the bank will loan you the money at the rate and payment that you can afford.

So step one should be to meet with a mortgage professional and have him or her evaluate your situation. That way you know for sure how much money the banks are willing to lend you and how much of a payment you will owe monthly.

There are two basic types of mortgage lenders, the first one being the direct lender. They often work at a bank or credit union and they are licensed to lend you funds directly to you.

The second type is the mortgage advisor or mortgage broker. They don't actually lend money themselves, instead they put you and the bank together, they work with you directly and with the lending institution to put your loan together to get it approved.

What the mortgage bankers and brokers have in common is that they both are sales people, both earn a living by putting mortgage customers together with mortgage providers.

A good mortgage provider will walk you through the lending process, he will explain and go over the applications you need to fill out, inform you about credit scores, order a copy of your credit report. They should also explain to you the different types of home loans based on your particular needs.

Some of the questions you might ask are:

How can I get in touch with you if I have a question?
How long have they been in the business?
How often will you contact me during the approval process?
Will you be servicing this mortgage after it closes?
What type of loan are you leaning towards?
What are the terms of that loan?
Is it fixed or Adjustable?

These questions listed above are a great start, you may want to speak to a few differnt lenders and then go with the one you feel must comfortable with.

I have three lenders that I think very highly of:

Dave Kester with Carnegie First Lending Services - 480-429-5048

Lanie Martin with Express One Mortgage Corp. - 480-635-3015

Debbie Bishop with Great Southwest Mortgage - 480-889-9983

I think all three of them are great so if your looking for a loan call them to see if they can help you.

Until Next Time,

John Palmay

Get PRE-Approved before you SHOP !!

2006-10-10T15:18:00.000-07:00

Chandler AZ Real Estate

During my Real Estate career I often hear this from some of my clients.

I just applied for a mortgage and found out that my credit score is much lower than I thought. What makes up a credit score?

I found an article recently on Yahoo that sums up this question the best.

One of the worst times to find out that your credit score is lower than you'd estimated is when you're sitting across from a mortgage lender. But you're not alone in guessing wrong.
In a recent survey from LivingWithBadCredit.com, an educational Web site, more than three-fourths of people surveyed reported not knowing their credit scores within a 200-point range. Nearly half of them had never checked their own credit report and score, while 17 percent hadn't checked in several years.
Knowing your credit score is the first step in improving your credit standing. But unlocking the mystery behind credit score calculations is somewhat more elusive.
The most commonly used credit score is the Fair Isaac Corp. score, or the FICO score. The score runs from 300 to 850. A score above 750 is generally considered good and a score below 620 is considered risky. The range between the two depends on the lender looking at the score.
FICO uses information from your credit report, which is compiled by three major credit reporting agencies, to calculate your credit score. FICO looks at five categories, each weighed differently, to determine your score.
• Payment history: This category is the most crucial and accounts for 35 percent of your total credit score.
"It's the most important element because it shows how you repaid debt in the past," said Craig Watts, a spokesman for FICO. "The score looks at long-term behavior to predict long-term behavior."
FICO monitors both revolving loans like credit cards as well as installment loans like student loans or mortgages. While the weight of each loan differs from person to person, Watts noted that defaulting on a larger installment loan like a mortgage will hurt your credit score more than defaulting on a smaller revolving loan.
However, making consistent, timely payments is one of the best ways to improve your credit score overall.
• Debt amounts: This category makes up 30 percent of your score and deals with your total outstanding debt.
In this category, revolving accounts weigh more. Unlike installment loans where the debt amount is already determined, revolving accounts allow a person to borrow as much or as little as she wants up to a limit.
A user who habitually maxes out her credit cards or flirts dangerously with their limits indicates to FICO that she can't manage debt responsibly.
To insure a higher credit score, keep credit card balances low. The amount you owe shouldn't exceed 30 percent of your credit limits, recommended Robert Anderson, co-founder of Focus Inc., which runs LivingWithBadCredit.com.
• Length of credit history: FICO looks at the amount of time each account has been open and the amount of time since the account's last action. This makes up 15 percent of your total score.
"There's no way a person new to credit will have a perfect credit score," Watts said. The more credit history to pull from paints a more accurate picture of long-term financial behavior.
• New credit and credit mix: Each of these make up 10 percent of your score.
Even if you're new to credit, don't open too many accounts at once. Doing so could indicate that you're in financial straits and need access to a lot of credit. Only take on new credit when you absolutely need it or when it makes financial sense, Watts suggested.
"Credit mix is the most vague category," Anderson said. "But one thing that's certain is having both types of credit shows that you can handle all kinds of credit."
Watts points out that FICO's historical data shows that those people with a good mix of revolving credit and installment loans tend to pose less risk to lenders.
To avoid unpleasant surprises when applying for a loan, check your credit report and your credit score at least once a year. Every person is entitled to a free credit report annually from one of the three credit reporting agencies, although it costs a minimal amount to receive a credit score.

Investor Market

2006-09-28T20:48:00.000-07:00

The more I look the more I notice that we truly are in a great investor market. That is if you look and find the investments that I search for. I have several investor clients that I have been working for over the past few years and I have been very successful in finding them cashflow type properties.

But now in our current Arizona market I will admit they are a little harder to find in the cashflow model but yet if you look hard enough you can. Of course this also depends on the type of loan you are interested in taking out. But I have some great lenders who are HONEST and will walk you through all of this.

I currently know of a property in Mesa, that is listed for $139K, which again is the list price. A tenant just moved in the month on a year lease paying $850.00 a month. Now this isn't going to make you millions but it will cover the property and give you a little back every month also. Plus it is close to a freeway and a golf course and near a hospital for future tenants.

Not a bad deal... I can find a few others like this also.... You might find this shocking also, if you can afford to hang onto a property for 6-9 months some great flips are on the market that you can make an easy 40k on.

Well that is it for today,

John C. Palmay
www.thepalmaygroup.com

The Press

2006-09-27T11:26:00.002-07:00

Why does the Newspapers and all the local news outlet make Real Estate out to be so bad. Everything they say about Real Estate is negative lately which really isn't true.

We are still experiencing some of the lowest rates ever, I recall when I first purchased my first home back in the late 80's that I rec'd the going rate of 12% on my 30 year loan. Thank god it started out with a lower fix rate for the first 5 years other wise we won't have been able to afford the payment.

But now with the rates still very low and the amount of inventory that is on the market it is a great time to buy a house. On most homes you can go in and knock a quick 10K off the price and ask them to pay for the closing cost too...

I would love to hear some positive stories on the evening news, but then again they do like to paint a negative picture on most stories it seems.

Until tomorrow,

John C. Palmay
The Palmay Real Estate Group
480-699-5290

The Press

2006-09-27T11:26:00.001-07:00

The Press

2006-09-27T11:26:00.000-07:00

Arizona Real Estate

2006-09-27T00:56:00.000-07:00

The reason for the BLOG is quite simple, I am a professional Realtor and yes I did use the word Professional and Realtor in the same sentence. So many people think of Realtors as scum of the earth, I hope to disprove that theary over time if given the chance.

I am a full-time Realtor working in the the State of Arizona, more specfic I located in Chandler Arizona which is located in the Phoenix metro area. If you don't know much about Arizona I will be adding some cool links over time so that you can learn more what arizona has to offer.

Yes it is "hot" but it is a dry heat, I am sure you all have heard that. But it really is true, the heat here is much different then a 100 degree day on the East Coast. Having grew up in the mean streets of the New York / New Jersey area I can speak of the knowledge first hand. I have been in Arizona a little over 12 years now and I really like it. What is not to like about most every thing being new, houses, freeways (highways for east coast people) stores, schools etc... Every thing seems to be neat and clean must of the time, well mostly everything the starbucks I go to in Chandler can use a little more elbow grease from the workers.

Anyway as you can tell I like to have a good time, I like to laugh but I also have a serious side. What I hope to accomplish with this blog is to educate you the public in Real Estate. I am going to share my opinions with you about the current market and would welcome your feedback at anytime. If you have general Real Estate questions please feel free to send me an email at john@thepalmaygroup.com if you would like to learn more about my Arizona Real Estate Group please feel free to visit www.thepalmaygroup.com . You will find that our website shares with you articles about real estate, our current listings, buyer information, of course a picture of me and also a FREE Home Evaluation Over the Net. So please take a few mintutes to look it all over, and if you have any questions about Real Estate please feel free to email me.

My goal is to make these Blogs rather short so that you enjoy reading them with the hope that you return often.

Thanks for reading this first Blog,

John C. Palmay
The Palmay Real Estate Group
Keller Williams Legacy One Realty
480-699-5290