Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
April 2, 2013
April 2, 2013

More big changes for FHA loans……YOU have to know……..
mortgage insurance used to fall off at 78% loan to value……
…..now it’s going to be at least 11 years if not permanent on some terms, contact your lender for effective dates.  
(Or, contact Josh Heape w/Castle & Cooke LLC for more information at 602-330-6446 (information below provided by Josh).
Period for Assessing Annual Mortgage Insurance Premium (MIP)
Term    LTV (%)    Previous    New
≤     ≤ 78    No annual MIP    11 years
≤ 15 years    > 78-90.00    Cancelled at 78%    11 years
≤ 15 years    > 90.00    Cancelled at 78%    Loan Term
> 15 years    ≤ 78    5 years    11 years
> 15 years    >78-90.00    Cancelled at 78% & 5 years    11 years
> 15 years    > 90.00    Cancelled at 78% & 5 years    Loan Term

Increase to the Annual Mortgage Insurance Premium

New Annual MIP rates by amortization term, base loan amount and LTV ratio.
All MIPs in this table are effective for case numbers assigned on or after 1 April, 2013.

Term > 15 Years
Base Loan Amount    LTV    Previous MIP    New MIP
≤ $625,500    ≤ 95.00%    120 bps    130 bps
≤ $625,500    > 95.00%    125 bps    135 bps
> $625,500    ≤ 95.00%    145 bps    150 bps
> $625,500    > 95.00%    150 bps    155 bps
Term ≤ 15 Years
≤ $625,500    78.01%-90.00%    35 bps    45 bps
≤ $625,500    >90.00%    60 bps    70 bps
> $625,500    78.01%-90.00%    60 bps    70 bps
> $625,500    >90.0%    85 bps    95 bps


Hope you have a fantastic week!

Here are your weekly Inventory Levels:
 
Supply numbers are based on the number of closings in the previous month, divided into the total number of active listings today.   
This data is for Single Family Detached homes only and does not include Patio Homes, Condos, or Townhouses .
The total number of single family homes on the market in the Arizona Regional Multiple Listing Service is currently 12,693.
A decrease since last week.    
We are seeing an average supply rate of just over 1 ½  months.
The current number of pending sales are 9,263.  A decrease since last week.
The current number of pending listings that are “under contract-accepting back-up offers”, are 3,697.  A decrease since last week.
 
           Search #1 – Phoenix (City of Phoenix)
 
•         Total of 2,094 active listings.  Just over a 1 1/3 month supply.   A decrease since last week.
           Search #2 – West, Far SW & Far NW Valley
•         Total of 3,414 active listings.  Just over a 1 2/3 month supply.  An increase since last week.

(Cities of: Cordes Lakes, Bumble Bee, Crown King, Wagoner, Yarnell, Date Creek, Constellation, Black Canyon City, Castle Hot Springs, Wickenburg, Aguila, Gladden, Morristown, Circle City, Wittmann, Harquahala, Tonopah, Paloma, Sentinel, Gila Bend, Mobile, Arlington, Hassayampa, Palo Verde, Congress, Peeples Valley, Yarnell, Cleator, Cordes, Glendale, Litchfield Park, Goodyear, Avondale, Tolleson, Cashion, Estrella Mountain Ranch, Laveen, Peoria, Surprise, Sun City, Sun City West, Glendale, El Mirage, Youngtown, New River, Anthem, Buckeye)

Search #3 – Northeast Valley

•         Total of 575 active listings.  Just less than a 4 month supply.  A decrease since last week.   

 (Cities of: Rio Verde, Fountain Hills, Sunflower, Camp Creek, Desert Hills, Cave Creek, Carefree, Fort McDowell)

Search #4 – East Valley

•         Total of 2,226 active listings. Just over a 1 1/4 month supply.  A decrease since last week.

(Queen Creek, Chandler, Gilbert, Apache Junction, Gold Canyon, Tortilla Flat, Mesa, Tempe, Ahwatukee,Guadalupe, Komatke)

Search #5 – Southeast Valley   

•         Total of 987 active listings.  Just under a 2 9/10 month supply.  .  A decrease since last week.

(Arizona City, Eloy, Picacho, Toltec, Arizola, Casa Grande, Randolph, Coolidge, Valley Farms, Florence, Johnson Ranch, Sacaton, Bapchule, Stanfield,
Maricopa, Ak Chin, Santa Cruz)

Search #6 – Scottsdale (Over 1 Million)

•         Total of 612 active listings.  Less than a 12 3/4 month supply.  A slight decrease since last week.

Search #7 – Scottsdale (Under 1 Million)

•         Total of 983 active listings.  Just under a 2 1/5 month supply.  A slight decrease since last week.

Search #8 – Paradise Valley (Over 1 Million)

•         Total of 294 active listings.  Just under an 8 month supply.  A decrease since last week.     

 Search #9 –    50K-100K (Single Family Homes)

•         Total of 754 active listings.  Just over a 1 month supply.  An increase since last week.    

 Search #10 –  Under 50K (Single Family Homes)

•         Total of 131 active listings.   Just under a 1 month supply.   A slight decrease since last week.    

If your property is currently listed with a real estate broker or if you are currently working with another real estate agent, please disregard.  
It is not my intention to solicit the offerings of other real estate brokers.  I am happy to work with them and cooperate fully.

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West USA Realty
16150 N Arrowhead Fountain Center Dr. Suite #100 • Peoria, AZ 85382
Mobile: (602) 526-7486 • Fax: (623) 877-5455
Office: (602) 375-3300


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