The Microsoft Office 2007 upgrade experience.

This post is a test of Microsoft Word 2007 “create as blog” feature. I thought I would kill two birds with one stone by telling you my experiences so far.

The reasons I upgraded my Microsoft Office from Office 2000 with Outlook 2003, were, in no particular order:

• I was having problems with Outlook 2003
• I needed an update on Publisher
• Most importantly, I wanted the Word, editing, blogging and grammar tools.

The first problem I experienced is it took a couple of hours to install.

• When installing, read the screen prompts carefully. I intended a custom install, since I have no use for Access. I got the full install.
• Plan on not doing anything for at least three hours. After install, the program will go to the web for new updates.

Problem number 2 was Outlook now had different problems.

Now I couldn’t print my calendar and address book. It took a 2 hour call to Microsoft to solve it. I will say that the tech was careful, courteous, and knowledgeable and had a good command of English. The outcome was satisfactory.

Problem number 3 was Word works differently.

Oh how I would love to have the classic menu structure back. The first time I used Word, it took five minutes to find the save command. The company has abandoned the old menu bar for something called the ribbon. If it ain’t broke folks, DON’T FIX IT!

So far, Excel seems to be ok. I haven’t tried to do much, but when I open an existing file, I haven’t found any problems yet.

I am now trying to insert a business card graphic. I hope this works.

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com Where you can search the MLS with no registration for free.

When buying a home in today’s market, you MUST be concerned about MORTGAGE FRAUD. Not only the FRAUD FOR PROFIT that many have experienced, but the FRAUD FOR HOUSING. Yes, if you lie, or are encouraged to lie in the mortgage application, that is FRAUD. It is both a Federal and Arizona FELONY. Your buyer’s agent should help you avoid potential financial losses and criminal prosecution.

This post is inspired by 2 others on this forum. Lenn Harley’s MORTGAGE FRAUD THRIVES – THE PLAYERS ARE THE SAME and Broker Bryant’s You want my buyer to do what?

Both of these posts touch on the Buyer’s agent responsibility in the procurement of a home loan. I am just adding some of my thoughts to theirs.

Many problems in today’s real estate market have been caused by FRAUD! Often guided by the lending officer, who feels pressured to make the deal at any cost. Since most states do not require the lending officer to have a fiduciary responsibility to the lender, fraud may easily occur.

Buyer’s agents DO have a fiduciary responsibility to the buyer. It is their highest duty when representing the buyer. Why don’t they stop the fraud? Here are a few reasons.

1. Accepting a buyer provided lender. Sorry folks, this is my biggest fear. Many, if not most lenders don’t play well with real estate agents. They do not keep us in the loop, and often won’t provide us with the information necessary to protect and counsel the buyer. Make sure your lender will talk to your agent, or be prepared to accept the consequences.
2. Many agents don’t understand mortgage rules and procedures. I will bet most agents have never seen a buyer’s Good Faith Estimate. If your agent doesn’t know what is on this document, there is no way to help the buyer understand the loan they are getting.
3. In my state, most buyer’s agents do not attend closings. I have never seen a loan originator at a closing. It is at the closing, or a few days earlier, that you get to look at the Note. The Note defines all of the terms and conditions of the loan. Anything said or written prior to the signed note are null.
4. Many agents were "trained" to let the "mortgage professional" do the job without interference. This has often been justified as "preserving a buyer’s privacy". It is imperative the buyer’s agent be involved.

These are just a few of the things a buyer’s agent should do to protect their buyer, and make the real estate purchase a good one.

Get a Home Loan for Only 4% Interest!

That is a teaser rate folks, YES IT IS TOO GOOD TO BE TRUE!

Many lenders in the past have offered rates like this and even lower. You see it on TV all of the time. Thes are teasers, meant to get you to call them. Even if you got a loan at that rate, you need to read the fine print.

Almost without exception, these rates are offered for a limited time frame (1 to5 years). After the introductory period the rate will reset, most of the time at a much higher interest rate, or to market rate but the difference between the teaser rate and the market rate is added to the principle or term of the loan.

Yes, your parents were right! Don’t sign anything before reading it.

For information on a Realtors opinion on Adjustable Rate Mortgages: click on the following articles.

• Adjustable Rate Mortgages, Good or Bad, Part 1
• Adjustable Rate Mortgages Part 2
• ARMs, Part 3, Pitfalls and Benefits

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

The Adjustable Rate Mortgage (ARM) can be a valuable tool when buying a home. It can also become your worst nightmare.

Benefits of an ARM include:

• Ability to qualify for  more house since the qualification is based upon the first payment level.
• Gradual increase in payments if the ARM is correctly selected. This increase will hopefully be made up by an increase in your earnings.

Pitfalls of the ARM:

• Teaser, or introductory rates. This is why so many people are in trouble today. These rates mean your payments will be abnormally low at the beginning. The loss to the lender is made up by resetting after the introductory period to a level greater than the market rate. The change in monthly payment isn’t gradual, it happens at once, causing monthly payments to be more than many can pay. Foreclosure is the result.
• High prepayment penalties and excessively long prepayment periods. These lock the borrower into the loan, as it is not possible to borrow enough to pay these. Recently I have seen prepayment penalties of 7% and prepayment periods of up to 9 years.
• Income fails to rise as expected, Even if your income doesn’t increase, your payments may. You are obligated to make payments based upon your index, not your income.

I hope this series helps to explain the Adjustable Rate Mortgage. If you have any questions, drop me a line.

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

Much has been said recently about the causes of our current and projected foreclosure rate.

Often vilified by the press as the cause of today’s mortgage mess, is the adjustable rate mortgage. (ARM)

The ARM was originally developed as an instrument to give people, often first time buyers a way to get on the property ladder earlier in life. These were often younger buyers, educated, in the early stages of their careers. These buyers typically had some money down and for their closing costs.

The ARM loan was often offered at a lower interest rate since the lender didn’t have the risk of inflation leaving the lender with a low return loan during periods of higher yields. These loans were typically limited to between 5 and 7 year terms, after which the loan would be renegotiated, refinanced to a fixed rate loan, or the property sold.

The advantage to the buyers is that they would be qualified for the loan on the initial rate, usually less than that of conventional loans. The initial payments were lower, and as their income increased, so did the payment.

The borrowers using these loans had every reason to believe that their income would increase as the loan interest and payments increased.

More recently, ARMs were used to finance borrowers who had minimal or poor credit records, and no real potential of increased income. Additionally, these buyers had little or no money to invest in the property, hence need to get their down payment and closing costs financed. As recent events have made clear, this is a recipe for financial disaster.

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

As fall approaches, the Recreation Association of Sun City has announced the entertainment offered free for Sun City members through November at the Sun Bowl.

For those who don’t know, the Sun Bowl isn’t a football game, or a football stadium, it is an outdoor amphitheater at 10220 N. 107th AV in Sun City.

The scheduled shows are:

1. The Swing Sisters: Sunday, September 24 at 7PM. This is an Andrews Sisters inspired act that performs songs of the 1940’s in 3 part harmony.
2. Masanga Marimba Ensemble: Sunday, September 30 at 7PM. This Southern California group plays African style music based upon Zimbabwean instruments. This should be a good act for folk and international music fans.
3. Monte Procopio: Sunday, October 7 at 6:30 PM. Monte sings the songs of the Rat Pack, Frank Sinatra, Tony Bennett, Sammy Davis Jr. and Wayne Newton.
4. The Chordettes: Sunday October 14 at 6:30 PM. A 1950’s, 1960’s group. Hit songs include Mr. Sandman, Lollipop, Never on Sundays.
5. Arizona Winds: Sundaym October 21 at 6PM. A concert band made up of musicians from across the Valley. Traditional band, pop, jazz etc.
6. Spirit of Phoenix Quartets: Sunday, October 28, 6PM. Barbershop harmonies.
7. Arizona Swing Kids Sunday, November 4, 6PM. Known as the USO Kids, children from 7 to 17 do a USO type show.
8. Ahwatukee Foothils Concert Band Sunday, November 11 5:30PM. A salute to all Veterans. Patriotic music, marches, Broadway, jazz, swing.
9. Choralaires of Phoenix Sunday, November 18, 5:30 PM. Male singers with a repertoire of patriotic, spiritual, pop and more.

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

>About The Author

As a full time agent with Ken Meade Realty a Sun City neighborhood Brokerage business, Jim utilizes his Marketing Degree and 35 years of Business and Real Estate experience in order to help clients with their primary residence and second home needs. He contributes to a daily Web Blog which focuses on the Sun City, Sun City West, Glendale, Peoria and Surprise Arizona Real Estate Market, as well as other topics important to those and neighboring communities. For more information on Jim and Ken Meade Realty, please visit his website at http://www.suncityneighborhood.com/ or his other blog at:http://activerain.com/blogs/jlittle

Nationally, the outlook for home buyers is mixed.

• Home loan applications have increased for the second straight week. This may indicate more buyer interest.
• Slowdown in market activity has occurred. Historically, a great slowdown in market activity signifies the bottom of a market cycle.
• Bankruptcy and closings of mortgage lenders has slowed appreciably. In the past we saw several a week, not many at all now. Another indicator the bottom is near. Most news now is about the clean-up efforts at already imploded companies.
• Politicians are getting on the band wagon. These most reactive people are working at last to correct the market problems. They are addressing new programs for governmentally sponsored programs, and also working on sub-prime workout ideas. Politicians always react near the bottom.
• The VA loan maximums have been raised to equal conventional conforming maximums, now $417,000.
• FHA has initiated FHA Secure to help sub-prime borrowers refinance bad loans into something workable for the borrower.
• The Federal Reserve has acted to stop the liquidity problem, and will meet September 18 to consider further steps.
• Interest rates are slipping gradually. When interest rates fall, housing prices recover and increase.

Today’s outlook for the Phoenix area, which includes homes for sale in Sun City, Sun City West, Surprise, Peoria and Glendale Arizona is far better than in much of the nation. Job growth continues at a healthy rate, unemployment is less than the national average, and real income is increasing. Inventory of homes for sale is excellent, giving those who wish to buy a home a great selection to choose from.

Today’s tip for buyers. Don’t get an adjustable mortgage. Most ARM’s have a start rate near that of the conventional 30 year fixed mortgage. This means there is little advantage to the average buyer to use an ARM.

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

>About The Author

As a full time agent with Ken Meade Realty a Sun City neighborhood Brokerage business, Jim utilizes his Marketing Degree and 35 years of Business and Real Estate experience in order to help clients with their primary residence and second home needs. He contributes to a daily Web Blog which focuses on the Sun City, Sun City West, Glendale, Peoria and Surprise Arizona Real Estate Market, as well as other topics important to those and neighboring communities. For more information on Jim and Ken Meade Realty, please visit his website at http://www.suncityneighborhood.com/ or his other blog at:http://activerain.com/blogs/jlittle

Jim Little, Your Sun City Realtor

The mission of this worthwhile organization is:
"to provide hope and assistance to victims of domestic violence. Our goal is to educate the public about domestic violence and provide programs to empower abused women and children".

This is a problem that cuts across all lines, racial, economic, and social. It can affect young and old. As such, I thought I would write this post in support of Eve’s Place.

Recently, Eve’s had a fundraising fashion show at the Outback Restaurant, raising $7000 for the cause. It came to my attention because my associate at Ken Meade Realty, Barbara Levy was the mistress of ceremony for this event.

In the immediate future, area golfers will have the opportunity to support Eve’s Place with a golf tournament to be held on September 24th at Briarwood Country Club in Sun City West. It will cost $100. The entrance fee will include breakfast, golf and prizes. For more info call: 602-252-4477.

Plan ahead for the fall fashion show to be held on December 6 at the Skye Restaurant on Bell Road.

The 2nd Annual Charity Ball will have as guest speaker, Denise Brown, sister of Nicole Simpson!  She has obviously had some first hand experience in the subject of domestic violence. That will be quite an affair April 12th at Union Hills Country Club.

Please visit the Eve’s Place website here:

Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776

By the way…if you know someone who is interested in buying or selling real estate in the Sun City Neighborhood, Peoria, Glendale or Surprise, please call me with their name and phone number. Thank you!

>About The Author

As a full time agent with Ken Meade Realty a Sun City neighborhood Brokerage business, Jim utilizes his Marketing Degree and 35 years of Business and Real Estate experience in order to help clients with their primary residence and second home needs. He contributes to a daily Web Blog which focuses on the Sun City, Sun City West, Glendale, Peoria and Surprise Arizona Real Estate Market, as well as other topics important to those and neighboring communities. For more information on Jim and Ken Meade Realty, please visit his website at http://www.suncityneighborhood.com/ or his other blog at:http://activerain.com/blogs/jlittle