Tucson AZ Home Loan Info

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Greece-ing The Skids This Week Shook Buyers Out of Complacency

What a week!  Thursday's 1,000 point plunge shook up the mortgage world, but it also shook some lookers loose.  May/June is shaping up to be the best two month period in the last two years! 

It almost goes without saying that every gain for someone is at someone else's expense. As Grandma would have said back on the DelMarVa peninsula, "Life's not necessarily fair."  Life's not good for everyone right now, but buyers are back!

My northern Pinal County borrower is buying a wonderful single family home for the grand total of $55,000.  It's a HUD home, so she's able to buy the home with just $100. down, using FHA guaranteed money.  Her total payment of $448 PITI/MI is less than most people pay for rent.

My Colorado borrower got an awesome lock yesterday on a second-home purchase here in Tucson using a 7/1 Interest Only ARM ~ the first of these that I've done in four years.

My Tucson move-up borrowers decided on a straight 15 year term for their purchase, as the rate available yesterday was unbelievable.

How was your week?

I'm Mike in Tucson, your preferred Tucson Mortgage Lender.

NMLS #223495

SUNSTREET MORTGAGE llc ~ Mortgage Bankers, Not Brokers!
Offices in Scottsdale, Tucson, and Nogales, AZ, and Albuquerque, NM.

 

Comment balloon 5 commentsMike Jones • May 08 2010 12:30AM

Comments

Hi Mike!  Yes, it was bad news in the financial market but, GREAT things happening in real estate--my best month EVER and what is so amazing is that FEW are first-timers!  WooHoo!  I'm so glad to see things moving again as I'm sure you are too!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 9 years ago

Mike, what a great week for you; maybe the market should plunge more often ~ not! I had a good week too as I closed on two properties and working on leases too. Good to be in the rain again.

Posted by Teral McDowell (Referral Patners LLC) over 9 years ago

Mike, I think that you are right! The market is hopping in this area and this looks as if it is going to be a banner month...

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 9 years ago

Michael,

Good news from Nashville; we've got you on the prayer list.  Why hasn't the national media done more to publicize what's going on in Tenessee?!

Teral,

Fantastic!

Debe,

Thanks for being the first to comment; it's good to hear what's going on for you in Charlotte NC!

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 9 years ago

I had clients in town from Germany last week and that was all they talked about - the Greece situation!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 9 years ago

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