Housing News from The Wizard of Waz

Real Estate Sales Representative - Wizards of Waz Real Estate
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This was recently posted on Housing Wire.   "The Federal Housing Administration will toughen its standards for approving lenders that insure mortgages on its behalf and force more of them to buyback defaulted loans. FHA Commissioner Carol Galante said the upcoming rule changes will help the agenc...
Relief may be on the way for distressed homeowners in Maricopa Arizona. But don't hold your breath! In a recent article posted by DSNews.com, the negotiation talks between the state attorneys general and the nation’s five largest servicers are entering their second year but may be getting close t...
This article from DSNwes.com mentions that Carrington Holding Company LLC will fund the purchase of up to $450M of distressed single family homes across the country. Carrington currently manages over 3,000 single-family rental homes under Fannie Mae’s Tenant-in-Place and Deed-for-Lease programs. ...
In spite of the large influx of seasonal buyers looking for homes in Maricopa Arizona, the inventory jumped signifigantly this past week. I’ll go into more detail below but this is very unexpected given the rest of the tracking numbers. Values continue to remain strong with much of the new listin...
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity th...
According to this article published by DSNEWS.com, the Treasury Department reported that nearly 910,000 homeowners have received a permanent HAMP modification to date, saving an estimated $9.9 billion in monthly mortgage payments. I have been rather skeptical of this program in the past but it ap...
Great news for buyers of homes for sale in Maricopa Arizona and elsewhere! In spite of all the media hype and doomsayers predicting higher mortgage rates on the way, the 30-year fixed mortgage averaged 3.91 percent (0.8 point) for the week ending January 5, 2012. That’s down from 3.95 percent the...
In this article brought to you by DSNews.com, the Better Business Bureau announced that loan modification scams were among the largest last year. Thius does not surprise me because, unfortuantely, economic crises such as the housing market crash always bring out the predators. I personally know o...
Happy New Year everyone! The homes for sale market in Maricopa Arizona promises to be a "wild ride"! Inventory continues to edge downward though not at the pace that I expect to happen very soon. I have lived in Maricopa AZ for over nine years and every year come 2JAN it is like "flipping a switc...
Good news for investors! The FHA has announced that it is extending the waiver for it's property anti-flipping rule through December 31, 2012. This allows the use of FHA insured financing for HUD owned and bank owned proprties no matter how long title has been held. The same Arms Length rules app...

Bill "Waz" Wasowicz

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