Jim Little, Your Sun City Arizona Realtor

As the end of 2011 approaches, I decided to do my year end blog a couple of days early.

The following table shows the year to date sales of real estate by agents during 2010, followed by 2011 figures.

I can't say it was an exciting year, but we did sell afew mor homes, 105 to be exact. Some things also remain relatively constant, the percentage of list to sales price for example.

As it was last year, the biggest factor this year for both selling price and days on the market is single family homes are much more desireable to today's buyer. In past years condos and houses sold at roughly equal numbers, and just a few dollars difference in price per square foot. Days on the market also verify this preference.

If Fridays are for fun, I'll just add a few random thoughts here.

Just a reminder to my friends and readers, if you live in a state that changes time, it is THIS weekend that you must set your clocks BACK.

Words of Wisdom to live by in these troubled times.

You can lead a man to Congress, but you can't make him THINK.

Isn't it nice to have the best Congress money can buy?

Frankly, I want my country back. We cannot have a democracy when we have an oligarchy.

Jobs and joblessness are a major problem for our industry. If our young don't have jobs, we can't sell them starter housing.

If the owner of starter housing can't sell it, we can't sell them upgraded housing.

If the owner of upgraded housing can't sell it we can't sell them retirement housing.

What is my point? ABC News has had a campaign for several months making people aware of how many things are imported, ofte from predatory trading partners, and emphasizing how many new jobs could be created if we turned this around.

I remember when products proudly carried a "Made in the U.S.A." label, prominently displayed. How nice it would be if manufacturers did that again.

Please consider joining this movement. More information is available at ABCnews.go.com.

I love living in Sun City AZ, but we don't get the kids trick or treating here.

I miss being young, deciding on my costume and going throught the neighborhood getting treats, also miss the elementary school Halloween carnival.

I miss getting the kids ready to go, and staying home giving out the treats.

I miss my favorite town, Sierra Madre Ca. at Halloween. There was one street, Allegria that went totally crazy. All the houses decorated with graveyards, flying ghosts, pumpkins the size of a house. One house had over 150 carved pumpkings. It was a weeks work for the entire family.

I do get some Halloween candy at the office though.

HARP, just a cute acronym for Home Affordable Refinance Program. This plan is to allow people to refinance older loans at today's lower interest rates, thereby reducing the required monthly payment. The President thinks the average borrower will save as much as $2000 on interest and will spend that money. Hence, this is an attempt to help the homeowner and act as a stimulus also.

HARP extends the old acccess to refinancing of the President's last attempt to help through 2013.

Sounds like a win/win doesn't it?

Now let's look at some details.

• You must have been current for 6 months.
• You can only have missed 1 payment in the last year.
• No appraisal required.
• Unlimited loan to value ratio. This is to allow those who are seriously underwater access to refinance.
• Your loan must be owned by Fannie Mae or Freddie Mac. (in other words conventional only, FHA and VA borrowers need not apply.)
• This is for loans originated before June 2009.

So, what's the catch? (Yes there are some)

• The plan is governmental, but the banks are allowed to create OVERLAY requirements. One such requirement you can expect is lenders will set a loan to value ratio, in spite of the intent of the rule.
• We don't know what the overlay requirements will be until sometime in November.
• It appears that if a person had a "Liars Loan" before, they will re able to refinance under the same conditions. In other words, no verifyable income or assets.

It appears, like I wrote in 2009 Here, probably not a lot of help for most people.