Changes to Investor Loan Rules for Purchase of Condos

Realty Times has an article which explains the Fannie Mae changes to rules for loans to investors purchasing a condo. Fannie Mae tries to control the percentage of units within condominium communities that are not owner occupied by restricting loans if the percentage of investor owned properties is too high.

If you are considering purchasing an investment property, you should begin by talking with a lender. Downpayment requirements and other criteria are different than criteria for homes that will be occupied by the owner. Also, let the lender know if you are planning on purchasing a condo as an investment property. The lender should be able to explain to you any special rules for condo loans.

Realty Times Article - Investor Report: Investor Policy Changed

Recycling Your Christmas Tree

About.com has a great article with information on how you can recycle your Christmas tree. It provides information by city within the Phoenix metro area. Many cities will collect the trees and chop them up to use as mulch.

About.com - Christmas Tree Disposal in Phoenix

Metro Max Card - Discounts

If you will be traveling, shopping, dining, or visiting entertainment venues along the light rail path, you may want to print out a free Metro Max Card. It offers discounts at many locations along the route. You don't have to take the light rail to get the discounts.

To print your card and obtain a listing of offered discounts - Metro Max Card

Remember the grand opening of the light rail in Dec. 27 and you can ride free through Dec. 31. Click here for Metro Light-rail Grand Opening Information.

Fun Free Holiday Tags, Small Boxes, and more

We just learned about thetoymaker.com and thought we would share the information with you. You can print free Christmas tags and small gift boxes and many items for other holidays. There are also coloring pages and paper toys that can be printed. Everything looks nice and fairly easy to do.

A Special Greeting Card

Did you know that you can request a special greeting card be sent from the President under certain circumstances. You can request one for: the birth of a child, someone celebrating their 80th or older birthday, a couple who was just married, or a couple celebrating their 50th or greater wedding anniversary. Recipients must be U.S. citizens. It might be fun to surprise someone with one of these.

For more information: White House Greetings

Help for Homeowners with a Federal Tax Lien

There was an article in Wednesday's AZ Republic about steps the IRS is taking to help homeowners who are attempting to refinance or obtain a loan modification but have a federal tax lien on their home. If this applies to you, you'll want to read the article. Just click on the link below.

AZ Republic Article - IRS Helps Homeowners Deal with Federal Tax Lien

November Market Statistics

Above are the statistics for the number of current listings in November plus the number of sold listings. Chandler had the most significant decrease in active listings ending November with a 9.5 month supply of listings. For the total Arizona Regional MLS there was a 12.8 month supply. Sales were 4435 units in November 2008 up 34% from November of 2007.

This data is supplied by the Arizona Regional Multiple Listing Service. ARMLS, West USA, and Pat & Amy Monahan do not guarantee the accuracy of the data.

New License Plate Law

You may or may not have heard that Arizona has a new law regarding license plate frames that goes into effect on January 1. License plate frames cannot cover up the state name, "Arizona". We've removed the frames from both of our cars.

For more information:

AZ Republic Article - Law Targets License-plate Frames

Mortgage Applications Up

An article in Realty Times, Real Estate Outlook: Mortgage Applications Rise by Kenneth R. Harney, indicates that a national survey indicated an increase of 37% in applications for loans to buy houses. What is driving the increase? A combination of lower interest rates and affordable home prices. It looks like many people have decided that this is the time to buy a home and the market may be starting the change.

Holiday Lights Map

AZ Central has a map which shows 98 different homes in the Phoenix area that have been decorated for the holidays in a spectacular fashion. Look for some near and enjoy some free holiday entertainment by doing a driving or walking tour.

Holiday Lights Map

Beginning of Housing Recovery?

There was an article in today's AZ Republic regarding signs that the local housing market may be starting on the road to recovery. Click on the link below to read it.

Steps Made in Housing Recovery

Minature Christmas Village

We discovered a house in Chandler with a huge minature Christmas Village in their garage. They are open on Saturday and Sunday nights. They also have a food drive box in their drive way if you would like to make a contribution - it is completely voluntary. This is a lot of fun for adults and children to look at. The address is 720 N Los Feliz, Chandler. They gave us permission to post pictures and their address on our blog.

Holiday Lights at the Phoenix Zoo

Another fun holiday season evening is the Zoolights at the Phoenix Zoo. This is particularly enjoyable with children. You can stroll through the zoo where the plants are decorated with hundreds of lights and there are numerous light sculptures to enjoy. Zoolights runs from November 27 to January 11. You can buy tickets on-line by visiting their site (click on previous Zoolights link).

Luminarias at the Botanical Garden

One of the things we enjoy doing during the holiday season is attending Las Noches de las Luminarias at the Desert Botanical Garden. You get to stroll through the park at night lit by many luminaries. At various spots throughout the park there will be small musical groups performing or sometimes solo artists. Stop and enjoy these groups for as long as you like before moving to the next. You can check the website to see which musical groups will be performing on each night. It is recommended that you buy tickets in advance as many nights do sell out. Discounts on tickets are available for Garden members.