Mark Loprino, Arizona Distressed Property Help

Health Industry Adding to Glendale Economy

Wed, 25 Aug 2010 15:39:17 GMT

The Health Industry has made big moves into Glendale

Within the past fiscal year alone, Glendale has filled 1.3 million square feet of office space with health and education companies, bringing 1,042 new jobs to the city. Those jobs represent 60% of the 1,776 total jobs created in Glendale during the 2009-10 fiscal year ended June 30. The businesses were a mixture of companies new to Glendale as well as expansions.

Read more about the health industry in Glendale.

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Mark Loprino
480-502-0112

Best Moves for Buyers & Sellers

Wed, 25 Aug 2010 15:35:06 GMT

Best Moves for Buyers & Sellers

Plenty of forces, from overly cautious lenders to inaccurate appraisals, are making real estate deals more challenging right now. But one of the biggest roadblocks to getting a house sold these days is the disconnect between buyers and sellers. While sellers have gotten more realistic in pricing their homes, many still don't grasp how much they must concede to close a deal. And buyers are still spraying lowball offers around in hopes that sellers will be desperate enough to bite. Take such unreasonable expectations, multiply by two, and what do you get? "A standoff," says Glenn Kelman, CEO of real estate brokerage Redfin. See the full article for dos and don'ts to negotiate the best deal -- fast...

http://money.cnn.com/2010/08/25/real_estate/home_buyers_sellers.moneymag/index.htm

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Mark Loprino
480-502-0112

More Federal Funds for Jobless Homeowners

Mon, 16 Aug 2010 19:00:12 GMT

$3 billion more for jobless homeowners

The Obama administration is making $3 billion in additional funds available to help troubled homeowners avoid foreclosure, according to an announcement made yesterday. One part of the plan includes a new $1 billion program that will offer loans to unemployed borrowers at risk of losing their homes. The loans, which will be dispersed through nonprofit and housing agencies, will carry 0% interest and be good for a maximum of $50,000 for up to two years.

Read full article:
http://money.cnn.com/2010/08/11/real_estate/emergency_homeowner_loan_program/index.htm

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Mark Loprino
480-502-0112

Stabilizing Home Prices Trending Solid

Mon, 16 Aug 2010 18:55:48 GMT

Stabilizing Home Prices Trending Solid

The National Association of Realtors reported Wednesday that the trend in stabilizing home prices solidified in second-quarter 2010 as more metro areas showed improvement over 2009 — including Phoenix. The median price for a home resale in Phoenix stood at $144,700 in the second quarter, according to the NAR - a 10.4% increase over second-quarter 2009. The number of single-family home sales also is up. NAR reports a seasonally adjusted annual rate of 157,200 homes based on second-quarter activity in Arizona. That’s up 3.1% from the first quarter and 4.5% compared with a year ago.

Read full article:
http://www.bizjournals.com/phoenix/stories/2010/08/09/daily34.html?s=industry&i=resi_real_estate

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Mark Loprino
480-502-0112

Arizona Dubbed the Nation's Solar Energy King!

Fri, 06 Aug 2010 16:07:23 GMT

Arizona has been labeled the nation's "Solar Energy King"

Business Facilities magazine, which is read by business-relocation specialists and economic developers, has named Arizona as the top location for the development of the sustainable Solar Energy industry.

While there are currently only a handful of solar energy plants and manufactures in the state, Arizona is viewed by analysts as having the highest potential for developing the industry.

The state was also rated 6th nationwide in economic growth potential.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Home loan purchase demand up again

Fri, 06 Aug 2010 15:57:40 GMT

Home loan purchase demand up again -

The demand for U.S. mortgage applications to purchase homes rose last week for a third straight week as interest rates tumbled, according to Mortgage Bankers Association. The low rates also buoyed demand for home refinancing loans, with activity rising in five out of the past eight weeks. The MBA's seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans - increased 1.3% in the week ended July 30. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was up 0.3%. The seasonally adjusted purchase index, a tentative early indicator of home sales, increased 1.5%.

Read full article

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Mark Loprino
480-502-0112

Mortgage Rates Fall and Help Move Demand

Fri, 23 Jul 2010 15:49:43 GMT

Record low mortgage rates spurred an uptick in new-purchase mortgage applications last week...

Rates fell last week to 4.59% on an average 30-year fixed-rate mortgage, which is down from 4.69% the previous week. It's also had the effect of increasing refinancing in the past week as well.

Read more about this here at the Wall Street Journal

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Mark Loprino
480-502-0112

PayPal Expanding to Chandler

Fri, 16 Jul 2010 21:24:24 GMT

PayPal moving in to Chandler and bringing jobs in the tech sector

PayPal, eBay's online payment system, has committed to a 10 year lease here in Chandler.

With more than 188,000 square feet, eBay's PayPal division will be hiring an unspecified number of customer service reps and moving in this Fall. There are also rumors of higher level positions available at this tech-rich company that continues to bolster Arizona's growing image as a Technical Hub outside of California.

Another boon to our local economy!

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Mark Loprino
480-502-0112

Arizona to receive $125.1m in Federal funding for hardest hit

Fri, 25 Jun 2010 20:44:31 GMT

Administration OKs $1.5bn Hardest-Hit Mortgage Relief Fund Plans

President Obama signed off yesterday on state plans to be able to use $1.5bn in foreclosure-prevention funding for the states hardest hit by foreclosures and price decline. This is part of the Hardest Hit Fund which was announced in February.

Arizona would defenitely be in line for this funding, receiving $125.1m for those hardest hit and qualifying for help.

The Arizona HFA will oversee this program, and will also provide financial aid to those unemployed homeowners while they look for work.

http://www.housingwire.com/2010/06/23/obama-administration-oks-1-5bn-hardest-hit-mortgage-relief-fund-plans

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Mark Loprino
480-502-0112

Mortgage Scams on the Rise

Thu, 10 Jun 2010 15:50:36 GMT

Mortgage Scams on the Rise -

Despite increased attention and prosecution of scammers who are taking the money of folks already hurting and trying to save their homes, the number of scams are on the rise.

Karen Scates, mortgage-relief coordinator for the Arizona attorney general, said complaints about loan-fraud and modification scams have quadrupled in the past year.

Many non-profits are available to help you to avoid these scams. I can also help you to navigate the potential snake pit. Give me a call for a free, anonymous consultation or continue reading the information here on my website.

Read more: http://www.azcentral.com/business/articles/2010/06/09/20100609biz-catherine0609.html#ixzz0qU8zjtB3

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Mark Loprino
480-502-0112

Foreclosure Filings Down in the Phoenix Area

Thu, 10 Jun 2010 15:39:39 GMT

Foreclosures Down in Phoenix

According to Information Market, the number of foreclosures in Phoenix last month was down for the first time since July of 2008.

This drop is seen by many as a sign that the Federal programs thus far used for slowing foreclosure rates are starting to show signs of working.

To find out about a new program for helping those facing possible foreclosure, check out my information on HAFA.

Don't hesitate to ask me about how I can help you get out of the deep water you are in!

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

New Programs for reducing Mortgages in Arizona

Fri, 04 Jun 2010 18:56:01 GMT

New Programs for reducing Mortgages in Arizona

Principal forgiveness is an often-requested but seldom-approved method of reducing a mortgage so struggling owners can stay in their homes.

Arizona is about to receive $125million from the government which will be administered via a program called Arizona Innovation Fund. The funds are meant to match reductions that lenders are willing to make, helping a struggling home owner to stop drowning.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Factor in cost of travel when considering a new home

Wed, 12 May 2010 16:33:21 GMT

Factor in the cost of fuel and transportation when determining what you can afford in a home...

Recently the Center for Neighborhood Technology released a report that shows that when looking to buy a new home, or considering having to move from your current home, you must factor in the cost of gas and transportation.

With rising fuel costs, and keeping in mind the equation that you shouldn't spend more than 30% of your income on your home costs, many are finding that the cost to get to work and shopping is eating into their budget.

Check out this article in AZ Central to read more about this.

http://www.azcentral.com/news/articles/2010/05/07/20100507arizona-homeowners-cost-of-living.html

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

The Foreclosure Rescue for Arizona Act - Help on the Way?

Tue, 06 Apr 2010 16:41:40 GMT

New Legislation and Funding for Arizona Homeowners

Arizona is one of the top 5 states in the US hardest hit by the current economic downturn's effect on the housing market causing a steep increase in foreclosures.

Recently Federal monies have been additionally allocated to Arizona for this very reason. But local legislators are also working hard to create bills to increase help available to those facing foreclosure.

These bills cover a variety of areas regarding foreclosure, such as requiring landlords to give sufficient notice to a renter in the event of a foreclosure, or regulating foreclosure consultants as they have in California this past year. There has been an increase in 'foreclosure consultants' in Arizona where the consultant often requires an upfront fee and in many cases takes the money and runs.

For a full overview of these current Legislative bills go to the article here at azcentral.com

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Don't Foreclose...Short Sale!

Tue, 30 Mar 2010 16:02:34 GMT

Consider a Short Sale before Foreclosing on your home...

This is a great article recently posted on CNNMoney.com....

The gist of it is that Short Sales have been somewhat stalled due to the banks/lenders dragging their feet on processing them. But recent legislation is going to pump stimulus into the system which will encourage the banks to move QUICKLY on the processing of Short Sales.

http://money.cnn.com/2010/03/29/real_estate/short_sale_explosion/index.htm

Home owners and real estate agents are reporting that banks are starting to process Short Sales in as short a time as 24 hours.

This is GOOD NEWS!

Please consider contacting me, anonymously, to discuss your options for saving your home or getting out from under your home without destroying your credit.

I'm here to help...

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Don't qualify for Home Affordable Modification Program?

Mon, 15 Mar 2010 19:45:23 GMT

Don't qualify for Home Affordable Modification Program? Check out HAFA instead...

Here is information about Home Affordable Foreclosures Alternatives (HAFA), for those that are not able to retain their home using the Federal Home Affordable Modification Program (HAMP).

Starting in April of 2010, this new program provides incentives in connection with short sales and deeds-in-lieu of foreclosure.

Here are two brochures from the Realtor.org website regarding HAFA:

HAFA 1 HAFA 2 Video on HAFA

Here's a web page with all the details about this new program.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Cave Creek Arizona's Best Affordable Suburb

Tue, 09 Mar 2010 16:51:19 GMT

Bloomberg Business Week touts Cave Creek as the 'Best Affordable Suburb'!

Award winning Affordable Suburbs are based on an area where a family can "live well for less and enjoy good schools, low crime and reasonable commutes." Suburbs are defined as being within 25 miles of a state's major city.

Cave Creek is known for it's open parks, and a classic wild west history. Current average median home price is $325,000. With a population of just 5000, it was the smallest suburb on the list. Last your Fountain Hills won the award.

Check out and read the full article at AZ Central.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Queen Creek HOA Academy

Tue, 02 Mar 2010 19:32:11 GMT

Learn about how HOA work...

The Queen Creek HOA Academy is offering classes to help you understand how Homeowner Associations work. This non-profit in the East Valley is offering the classes 6 p.m. to 8 p.m. Tuesdays from March 30 through May 11 at the Queen Creek Library, 21802 S. Ellsworth Road.

Let me know if you are interested to find out more about these classes.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

IRS Clarifies Tax Credit Process

Tue, 02 Mar 2010 19:27:46 GMT

IRS Clarifies Tax Credit Process

The IRS is still requiring the filing of Form 5405 but they are not requiring each parties' signitures on the HUD-1 settlement document.

For repeating home buyers, they are only requiring proof and documentation that the home owner has lived in the home five years of the previous 8 years.

8000 Jobs Opening for Census 2010 in Phoenix Area

Wed, 17 Feb 2010 15:43:07 GMT

8000 Jobs Opening for Census 2010 in Phoenix Area

The US Census has just announced 8000 jobs available in the Phoenix area. They need crew leaders, census takers and more in the Maricopa County area.

Check out the 2010 Census site or locally at AZ Central.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

New program helping Short Sellers!

Fri, 05 Feb 2010 19:26:52 GMT

New Program Helps Out Short Sellers!

Check out this local TV News report on some great news for those looking to Short Sale their home!

Here's the full article online with more information http://www.azfamily.com/news/consumer/New-government-program-helps-with-short-sales-83500442.html

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Deed-for-Lease Program could help you stay in your home

Mon, 01 Feb 2010 17:00:41 GMT

Deed for Lease Program

For residents of the Valley who have faced foreclosure, there may be some help in this Federal program. The program from Fannie Mae allows foreclosed homeowners to stay in their homes as tenants. This program aims to help foreclosed home owners retain some sense of continuity by staying in their homes.

The program allows the foreclosed home owner to give up the deed in exchange for rental rights. While it does not free you from showing a foreclosure on your credit, it does allow you to stay living in your home.

This program was proposed last November and we are awaiting the details of implementing this process. For more information about this possible route please check out the HUD website.

Let me know if you have any questions about this option.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Arizona among 10 fastest growing states

Thu, 14 Jan 2010 18:53:00 GMT

Regardless of current economic times, Arizona still remains one of the top 10 fastest growing states in the US. Even with the economic slow down, Arizona ranks 7th out of the 10.

What that means is there is still a demand for housing - both purchased and rental. Here is a great article about this from the East Valley Tribune.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

Data on current REO's in AZ

Thu, 14 Jan 2010 18:48:55 GMT

Here is the Residential Market Update graphs for AZ as of January 7th. This includes information about current REO's on the market and sold.
Information provided by Equity Title Agency.

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112

SunTech First U.S. Solar Factory in Phoenix

Thu, 17 Dec 2009 18:27:20 GMT

Finally, Arizona industry will be experiencing a boon in the product we have lots of...sun!

This is a great article about the new move of Suntech Power Holdings to start its first Solar Factory near Phoenix. Apparently the photovoltaic giant from China chose the area because of its strong research, well-crafted renewable energy policies and a good local business climate.

http://www.azcentral.com/arizonarepublic/opinions/articles/2009/11/23/20091123mon1-23.html

Call for an anonymous 30 minute consultation!

Mark Loprino
480-502-0112