Gina McKinley, ABR, CDPE, CRS ~ Chandler, Gilbert, & Mesa's #1 Expert

Local artists and fine crafters are being sought to participate in Fulton Ranch Towne Center's Spring Art Festival from 9 a.m. to 4 p.m. Sat., March 21. Artists from all mediums, including painting, drawing, jewelry, photography, textile arts and more are encouraged to participate.

The Spring Art Festival takes place in the parking lot nearest the intersection of Arizona Avenue and Ocotillo Road at Fulton Ranch Towne Center. Vendors can reserve a 10-foot by 10-foot booth space for $50.

Live music and a bounce house for kids are also part of the Spring Art Festival, which is publicized through direct mail, print advertising, e-newsletters, fliers and onsite signage. To reserve your space, email Shana Waller at shana85225@yahoo.com. For questions, contact Stephanie Case at 623-582-9599 or scase@redassetmanagement.com.

The Third Annual Wine, Cheese & Food Expo will be from 2 to 4 p.m. Sat., March 14 hosted by the Chandler Sunbird Lions Club at Sunbird Golf Resort. The proceeds from the event will support Lions Camp Tatiyee, a free camp for physically and mentally challenged individuals.

New and flavorful wines and cheeses will be tasted, and exhibitors will be showing new and innovative products. Albertsons is sponsoring the event and representatives will be in attendance.

A silent auction and raffle will include a 32" big screen, high-definition flat screen television.

The public is invited to attend. Tickets are $10 each at the door. Sunbird is located at 6250 Sunbird Blvd., between McQueen and Cooper on Riggs Road in Southern Chandler.

The Ostrich Festival is just a small way the City of Chandler celebrates its history. Chandler used to be the home of ostrich ranching. Ostrich ranches would raise these unique creatures for their trendy and costly plumes. The dates for each event are as follows:

21st Annual Ostrich Festival
March 13, 14 and 15, 2009 at Tumbleweed Park5K Fun Run & Walk

5K Fun Run & Walk
Saturday, March 7, 2009 at 8 a.m. in Historic Downtown Chandler, Dr. A.J. Chandler Park

Ostrich Festival Parade
Saturday, March 7, 2009, at 10 a.m. at Historic Downtown Chandler
Southbound on Arizona Ave., from Ray Rd. to Frye Rd.

To recognize this cities history, as well as draw the community together, the Chandler Ostrich Festival began in 1989. The event has grown to become one of the most significant festivals in the southwest. Each year, 250,000 to 350,000 people attend the three-day celebration.

The Ostrich Festival is a community family event that features live ostrich races, national and regional entertainment, carnival midway, phenomenal food, arts & crafts fair, a Saturday morning parade and much more.

In addition to bringing in nationally known musical groups, the festival also features some of the most popular local and regional talent in the Southwest. There are also performances by dozens of local community groups throughout the weekend performing music, dance, and more.

The Ostrich Festival takes place at Tumbleweed Park, the southwest corner of Germann and McQueen Roads. The Ostrich Festival Parade takes place in Historic Downtown Chandler. Your community organization can participate in the Ostrich Festival Parade by calling the Chandler Chamber of Commerce at (480)963-4571.

For more information, visit the official Ostrich Festival Web site at: www.ostrichfestival.com.

My first thought was Hooray!!! Obama is coming to Mesa, AZ to make a great announcement and roll out a new foreclosure prevention plan and help stem the tide of foreclosures in Arizona and across the country. Short Sales will go away because people will finally be able to refinance their home and stay in the house, foreclosure rates will slow.

Unfortunately, it seems that this is not the case. When, the Obama administration released its long-awaited plan to stem foreclosures, it turns out that the plan still falls far short of saving many people here in Arizona where our prices have depreciated as much as 41% in areas of Maricopa County.

The plan is very limited in that your mortgage must be a Fannie Mae or Freddie Mac insured loan. Many of the sub-prime mortgages issued will not fall into this category, nor will 80-20 loans.

Here is a quick synopsis of the plan. It's organized into three categories:

1.) Help for home owners making their payments but at risk of default and foreclosure.

Homeowners with a Fannie Mae or Freddie Mac loan would be eligible to refinance as long as their mortgage doesn't exceed 105 percent of the home's current market value. Currently owners need to have at least 20 percent equity. An example of this is a home valued at $200,000 cannot have a mortgage greater than $210,000.

2.) Help for home owners already in default and in need of loan modification.

For lenders that voluntarily agree to lower a borrower's payment so that it makes up no more than 38 percent of the borrower's income, the government would share the cost of lowering the mortgage burden to 31 percent of income. Incentives to lenders to participate include a $1,000 payment. An example of a loan modification under this provision would be a person making $50,000 could have their payment voluntarily reduced to$1,583.33 a month. This provision will only help homeowners with proof of income.

Homeowners can receive up to $1,000 as an incentive to stay current on their new mortgage. Still in the works is a proposed provision that would allow bankruptcy judges to require loan modification (known as a cramdown) as part of a household's restructuring. That provision requires legislation by Congress.

3.) Doubled resources to Fannie Mae and Freddie Mac.

To encourage investors to buy the secondary market companies' mortgage-backed securities, the government explicitly backstops them to up to $400 billion, twice the current amount.

The plan does not provide help to investors or to homeowners who are in trouble with a second home, nor does it apply to homeowners whose mortgage is part of a private-label mortgage security that is not backed by Fannie Mae or Freddie Mac.

The National Association of Realtors President, Charles McMillan says of the foreclosure prevention plan, "The administration's proposed plan, combined with provisions like the $8,000 first-time home buyer tax credit in the just-enacted American Recovery and Reinvestment Act, will help minimize foreclosures, shrink housing inventory, stabilize home values, and move the country closer to an economic recovery,"

The plan certainly has it merits. And ans stated above, it will help stem the bleeding in the housing industry, but will not help all homeowners. If unemployment continues to increase there will still be people losing their homes and forced into a Short Sale situation to help save their credit. If you are unsure of your situation, the first thing to do is contact your lender to see if you may qualify and then seek the advice of a professional. There are many realtors out there doing Short Sales that are not certified or an expert in the field. Look for a Certified Distressed Property Expert, CDPE designation, to assist you as well as seek the advice of an attorney and tax professional.

San Tan Sun Area homes auctioned Feb. 21; Open House Feb. 13-14

Zetabid, which bills itself as "the pioneering firm redefining home auctions in the U.S.," will sell approximately 200 bank-owned homes in the greater Phoenix area - including eight single-family homes in Chandler and five in Gilbert - on Sat., Feb. 21. The homes range from $20,000 to $800,000.

More than 1,000 first-time homebuyers, trade-up buyers and investors are expected to attend the auction at the Arizona Biltmore Resort and Spa at 2400 E. Missouri Avenue in Phoenix. Bidding begins at 10 a.m., and investors are encouraged to register in advance at www.zetabid.com. Buyers can also register at the Arizona Biltmore on event day, beginning at 8:30 a.m. Detailed information about each property is available at Zetabid's website.

Zetabid encourages buyers to view homes with a listing agent during its open house weekend, Feb. 13 and 14 from noon to 4 p.m. or by appointment. Buyers are urged to carefully inspect properties before bidding.

Prospective buyers can bid in person at the Arizona Biltmore or via Zetabid's worldwide Internet simulcast. Buyers can also bring their real estate agent to the auction event. Additionally, buyers can place an offer on a property before the auction by using the 'Buy It Now' form at www.zetabid.com.

"Arizona is one of the nation's most impacted residential real estate markets, and the sale of these foreclosed properties at Zetabid's auction will enable both consumers and investors to purchase homes at very attractive prices," says Bob Bellack, chairman of Zetabid. "Equally as important, this auction will help restore vitality to the local housing market by reducing the large inventory of unsold homes in the Phoenix area. Until these homes are put back into the hands of private owners, the entire Arizona real estate market won't fully recover."

For more information, visit Zetabid's website or call 888-4-ZETABID (888-493-8224).