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Bank Failures Jump to 52 in 2009

07-03-09
Mark MacKenzie
Mark MacKenzie: Real Estate Brokerage in Phoenix, AZ
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  • Office: (480) 600-0330

According to CNNMoney.com writer Catherine Clifford, the number of failed banks in 2009 jumped to 52 as the FDIC took over seven more banks on Thursday. The total cost to the FDIC has been $12.3 billion this year. In 2008 there were a total of 25 bank failures at a cost of $17.6 billion, the article states. In other words, we are on pace to see the number of bank failures quadruple year over year.

While the escalation of bank failures in 2009 has yet to reach the blistering pace that we saw in 1989 when there were over 500 due to the savings & loan fiasco, it may be pre-mature to start patting ourselves on the back yet. With asset values plummeting and a fleet of commercial balloon loans coming due over the next couple of years, things are likely to get worse before they get better for the banking system.

The answer is to stop the decline in asset values, both residential and commercial. The solution to this crisis is coincidentally the same piece of legislation that was partly responsible for igniting the previous banking crisis, the Tax Reform Act of 1986.

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Phoenix real estate - Bank owned property in South Phoenix...

07-03-09
Jerry Murphy
Jerry Murphy: Real Estate Agent in Anthem, AZ
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  • Office: (623) 594-2300
  • Mobile: (602) 334-3757
Bank-Owned Property at Carefree Highway & I-17!!!

2521 W. Florentine Rd. - Phoenix, AZ 85086

Benjamin B. Bailey

Property Marketing Expert

Arizona Premiere Living

Windermere West Valley

480/220-8022

Ben@ArizonaPremiereLiving.com

Jerry Murphy

REALTOR®

Arizona Premiere Living

Windermere West Valley

602/334-3757

JWMurphy@Windermere.com

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$141,900

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MLS# 4199623

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2 Bedrooms

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2 Baths

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1,139 Sq Ft

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2 Car Garage

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Bank Owned

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Fantastic Location!!!

BANK OWNED! Adorable two bedroom, two bath home with and office/den. Split floor plan, 42 inch cabinets, plantation shutters and custom paint. Nice backyard with paver walkway. Garage with storage cabinets. Piped for water softener and RO. Extra long driveway. This is what living in Arizona is all about. To see this lovely home, or to ask any questions about it, please call Jerry Murphy at 602/334-3757, or send him an email at JWMurphy@Windermere.com, or call Ben Bailey at 480/220-8022, or send him an email at Ben@ArizonaPremiereLiving.com. Find your place in the sun.

This listing courtesy of Windermere West Valley Northwest Phoenix, LLC

Windermere Real Estate, Windermere West Valley
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© 2007-2009 Arizona Premiere Living
Windermere West Valley Partners
34406 N. 27th Dr. Bldg. 9, Ste. 198
Phoenix, AZ 85085
480/220-8022
623/594-2300

Phoenix Real Estate

Arizona Premiere Living Blog (Windermere Real Estate): Real Estate Agents in Phoenix, Maricopa County, Arizona

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Alexi T. Mavrellis Earns Prestigous Designation To Help Homeowners In Danger of Foreclosure

07-02-09
Kim Anderson "The Sunshine Broker" Phoenix, AZ
Kim Anderson "The Sunshine Broker" Phoenix, AZ: Real Estate Brokerage in Phoenix, AZ
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  • Office: (480) 515-9413
  • Mobile: (480) 201-4185

alexi-mavrellis1At Guardian Realty & Investment Group, LLC we deal with many homeowners who are in financial duress and many times they are facing foreclosure. With the drastic drop in property values in the Phoenix area, many times a short sale is the best solution since we can not sell the home for what the homeowners owes on that property. The short sale is usually a better alternative than foreclosure for the homeowner. Click here for more information on short sales.

As the Designated Broker for Guardian Realty & Investment Group, LLC, I am very pleased to announce that Alexi T. Mavrellis, a Realtor our brokerage, has earned the prestigous Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” says Mavrellis. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Roton, Florida said that Realtors such as Alexi with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts may also better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE designation is the premiere designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information about the CDPE designation, you can call 1-800-482-0335.

Congratulations Alexi! We are proud to have you on the team!

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Tips for curb appeal

07-01-09
Judi Boad
Judi Boad: Real Estate Agent in Phoenix, AZ
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  • Mobile: (480) 332-2247
  • Secondary: (480) 232-0846

Make a great first impression on prospective buyers with curb appeal. Landscape can be a wonderful way to invite people to your front door. There are many inexpensive plant options that are low maintenance and flower year round. Potted plants near your front door or flower boxes add charm and character as well.

Solar lights along your entry pathway can make an inviting statement. Coach lights on either side of the garage with ambient bulbs offer a warm, calm welcome for evening visitors as well.

Paint your front door. Be bold. Red or Navy with a door knocker and lighted door bell will really enhance your entry. Put a chair, bench, or water feature at the entry to greet visitors.

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FRANK LLOYD WRIGHT family home sells

07-01-09
Judi Boad
Judi Boad: Real Estate Agent in Phoenix, AZ
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  • Mobile: (480) 332-2247
  • Secondary: (480) 232-0846

A Frank Lloyd Wright designed home, built for his son David, has sold in the Arcadia District for $2.8 million dollars according to a front page article in the Arizona Republic.

The house of approximately 2250 square feet will be restored to its original condition as an owner occupied dwelling. The property is located near 56th street and Camelback Road and has a rooftop deck with views of Camelback Mountain.

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