ArizonaHomebuilder
AZBUILD
august | september 2016
You’re an Arizona Builder, We’re an Arizona Lender.
BILL ROGERS
EXPERIENCE THE HFG DIFFERENCE
recognize the value of working with builders who are
with local and in-house Processing,
building Arizona communities. Working with other local
Underwriting & Funding. Call us
companies helps Arizona to build stronger communities.”
today to find out how we can help
-Bill Rogers, CEO of Homeowners Financial Group
you sell more homes and give your clients better service!
Cover Art | Family Development
CEO Founder & CEO of Homeowners Financial Group Financial
“As an Arizona based lender we always welcome and
Corporate Office | 16427 N. Scottsdale Rd. Suite #145 | Scottsdale, AZ 85254 | www.homeownersfg.com | 480.305.8550 All loan products and loan amounts may not be available in your area and are subject to credit and property approval pursuant to guidelines. Information is subject to change without prior notice. Other restrictions and limitations may apply. Homeowners Financial Group USA, LLC is licensed in AZ: Mortgage Bankers License No. BK 0906222, NMLS#93718; CA: Department of Business Oversight under the Finance Lenders Law License No. 603 F033; ID: Mortgage Broker/Lender License MBL-5879; NM: New Mexico Mortgage Loan Company License 03068; ND Money Broker License MB102538; OR Mortgage Lending License ML-5229 WA: Consumer Loan Company License CL-93718; MN: Residential Mortgage Originator License MN-MO-93718; MT: Mortgage Broker/Lender License 93718; NE: Mortgage Banker License NE93718 and registered in CO: Mortgage Company Registration. • 480.460.0996 • www.DesertLifestyle.net Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com Produced by Desert Lifestyle Publishing
Builder's Summer Still Sizzling
The Mystery of Mortgage Rates Three things are certain when predicting mortgage rates: they will either go up, down, or stay the same. If you’ve been in the market to buy or refinance a home, you may have noticed this mortgage rate fluctuation. Below is an overview that explains why the market experiences these variations, and also 7 factors that can increase or decrease rates individually for you.
ENLIVEN The perfect blend of modern style and convenience will be experienced when Family Development presents ENCUE to the famed Biltmore Area of Phoenix, Arizona.
CHARITY MORELAND
ENCUE brings authentic modern design and true urban living together in one location. Brand new architecture that is certain to revolutionize the definition of urban design will be introduced at this limited collection of 2 & 3 bedroom, single-family attached residences at the corner of 25th Street and Campbell Avenue.
VINCENT BARBATO – Principal – Family Development
ENTEGRATE
There’s more to urban design than location. Authentic urban design embraces the vitality of its surroundings to enhance its appeal. Our design starts with understanding the soul of the city. As a home designer, my philosophy melds the soul of the surroundings with the way our residents desire to live. Our urban residents are active so they walk or bike to great venues close by. Urban dwellers like pet-friendly design as well as private outdoor places in their homes to enjoy. With these great standard features, ENCUE also offers the choice of a private elevator in-home, so no need to walk up and down three flights of stairs daily. We believe your home should be the expression of how you define your lifestyle.
There’s more to urban design than location. It’s a connection to culture, an integration with the place and direction, the notion of city dwelling embodied. Urban living embraces the opportunity to experience a more vibrant lifestyle combined with the amenities of city dwelling. ENCUE builds on concepts of urban living to uniquely include pet friendly private courtyards and a community pool area.
A key dynamic to Family Development's success lies in each partner’s specific oversight of the critical stages of the development process. The ultimate benefit is drawn from their expertise driven by their unique passion. With diverse backgrounds, each of the five principals utilizes their particular talent and specialized skills to oversee one of the critical stages of development with all partners providing their invaluable input. This hands-on approach allows each partner to utilize his passion and expertise within the team providing an exceptional system of checks and balances. Pictured left to right: Raymond Herrera, Antun Barbato, Robert Bishop, Rudy Herrera and Vincent Barbato.
ENSTYLE ENCUE features 46 two- and three-bedroom units with approximately 1,723 to 2,000 square feet. Residences have upscale interiors, energy-efficient green amenities, gourmet designed kitchens and spacious master bedroom suites comparable to any 5-star resort. These single-family attached homes offer inspiring modern designs with authentic architectural accents adorned with rich complimentary color palettes. Residents also enjoy an attached two-car garage with convenient direct access to the home, and beautiful shared amenities such as a lavish pool, spa and barbeque area.
Now taking reservations. Prices contemplated to start from $399,990 for 1,723 to 2,000 square foot private residences. View ENCUE at encueliving.com.
KAYLA FERTAL – Sales Associate – Cambridge Properties
ENCUE presents intelligent interior spaces and notable standard features such as energy efficient windows, doors, appliances and climate systems. Available enhancements such as private elevators and rooftop decks bring the complete experience home. In addition to enjoying the community's private pool and spa, residents will delight in being able to walk to many of the area's most popular restaurants and entertainment venues. Most of the premier area's employment centers and attractions are within a walk, bike ride or short drive.
Contact: Kayla Fertal, Cambridge Properties Sales Associate at Kayla@encueliving.com M: (602) 826-9050 O: (602) 402-0067
Metro Phoenix Area homebuilders are enjoying an extended selling season. The typical slowdown JIM BELFIORE that occurs every summer has – President – not yet occurred this year in the Belfiore Consulting new home market; buyers have continued shopping, pushing new home sales to surprisingly high volumes despite the summer heat. From mid-June to mid-July, home shoppers executed nearly 1,550 purchase contracts with homebuilders – 8% more than during the same period one year ago. While homebuilders have achieved greater sales volumes resulting from demand growth, price increases have been almost non-existent on a metro-wide basis. The priority to maintain greater volumes, often amidst high price sensitivity in the most competitive market area, has stifled builders’ abilities to raise prices. The lack of new home price appreciation will be the most prominent obstacle faced by many Metro Phoenix Area homebuilders in the coming months. The problem will be most severe for those builders running low on land and lots. The lack of appreciation, coupled with significantly higher builder costs, is the culprit behind slower land and lot sales. Land deals are likely to continue to be limited so long as builder margins remain squeezed; many builders are unable to buy new lots and land without owner/developer concessions on price. On the other hand, many land owners and developers are aware builder supply is critically lacking, and thus stand unwilling to negotiate.
National Builder Sales Manager Homeowners Financial Group
The Secondary Market Mortgage rates are largely determined by the secondary market, where mortgages are bought and sold. Fannie Mae and Freddie Mac are two government agencies whose job it is to keep the mortgage secondary market stable.
Treasury Bond Market Mortgage rates most closely follow the 10 Year Treasury Bond, but this is not an exact science. As bond prices go down, the yield (the rate) goes up. Mortgage rates in the secondary market must then also rise, or all investors would put their money in the bond market, as opposed to mortgages. Overall Economy As with the stock market, mortgage interest rates tend to move up and down. When the economy is strong, rates are higher. When the economy is slower, rates drop.
Personal Influence on Rates 1. Credit score Your credit score is a number that lenders use to help predict how reliable you’ll be in paying off your loan.
loan. In general, shorter term loans have lower interest rates and lower overall costs, but higher monthly payments.
2. Home price and loan amount Typically, you’ll pay a higher or lower interest rate on that loan if you’re taking out a particularly small or particularly large loan.
5. Interest rate type Interest rates come in two basic types: fixed and adjustable. Fixed interest rates don’t change over time. Adjustable rates have an initial fixed period, after which they go up or down based on the market.
2. Down payment In general, a higher down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property.
6. Loan type There are several broad categories of loans: conventional, FHA, and VA. Rates can be significantly different depending on which type of these loans you 4. Loan term The term of your loan is how long you have to repay the choose.
Builders will still need to make purchases, and demand for new lots is only expected to increase. A total of 266 (48%) of now active Metro Phoenix Area new home subdivisions would sell out within the next 12 months if they would sell at the average rate experienced over the prior year. Of these near-sell-out communities, an astounding 99 have fewer than 5 total lots and/or homes remaining within. In order to continue bringing communities to market to replace communities as they sell out, Metro Phoenix Area homebuilders will need to soon start pushing up prices to recoup additional construction and lot purchase expenses they have absorbed since early 2015. Accordingly, overall this year, Belfiore still projects 3% to 5% appreciation in net new build home prices, driven by homebuilders’ attempts to offset their prior and anticipated expenses. Fortunately for homebuilders, current trends indicate pricing power will improve. The overall outlook for the Metro Phoenix Area new home market remains positive, perhaps as positive as it has been since the post-housing bubble. Housing demand is as healthy as it has been during any period in the last decade, and the market is expected to continue to strengthen, as employment growth and strengthening household balance sheets continue to widen the pool of buyers. For additional insight, call Jim at Belfiore Real Estate Consulting, (480) 706-1002, or visit BelfioreConsulting.com.
Contests, Prizes, Breakfast & Beverages, Sponsorship Opportunities and Much More!
CAREFUNDGOLF.COM | 480.305.8607
Builder's Summer Still Sizzling
The Mystery of Mortgage Rates Three things are certain when predicting mortgage rates: they will either go up, down, or stay the same. If you’ve been in the market to buy or refinance a home, you may have noticed this mortgage rate fluctuation. Below is an overview that explains why the market experiences these variations, and also 7 factors that can increase or decrease rates individually for you.
ENLIVEN The perfect blend of modern style and convenience will be experienced when Family Development presents ENCUE to the famed Biltmore Area of Phoenix, Arizona.
CHARITY MORELAND
ENCUE brings authentic modern design and true urban living together in one location. Brand new architecture that is certain to revolutionize the definition of urban design will be introduced at this limited collection of 2 & 3 bedroom, single-family attached residences at the corner of 25th Street and Campbell Avenue.
VINCENT BARBATO – Principal – Family Development
ENTEGRATE
There’s more to urban design than location. Authentic urban design embraces the vitality of its surroundings to enhance its appeal. Our design starts with understanding the soul of the city. As a home designer, my philosophy melds the soul of the surroundings with the way our residents desire to live. Our urban residents are active so they walk or bike to great venues close by. Urban dwellers like pet-friendly design as well as private outdoor places in their homes to enjoy. With these great standard features, ENCUE also offers the choice of a private elevator in-home, so no need to walk up and down three flights of stairs daily. We believe your home should be the expression of how you define your lifestyle.
There’s more to urban design than location. It’s a connection to culture, an integration with the place and direction, the notion of city dwelling embodied. Urban living embraces the opportunity to experience a more vibrant lifestyle combined with the amenities of city dwelling. ENCUE builds on concepts of urban living to uniquely include pet friendly private courtyards and a community pool area.
A key dynamic to Family Development's success lies in each partner’s specific oversight of the critical stages of the development process. The ultimate benefit is drawn from their expertise driven by their unique passion. With diverse backgrounds, each of the five principals utilizes their particular talent and specialized skills to oversee one of the critical stages of development with all partners providing their invaluable input. This hands-on approach allows each partner to utilize his passion and expertise within the team providing an exceptional system of checks and balances. Pictured left to right: Raymond Herrera, Antun Barbato, Robert Bishop, Rudy Herrera and Vincent Barbato.
ENSTYLE ENCUE features 46 two- and three-bedroom units with approximately 1,723 to 2,000 square feet. Residences have upscale interiors, energy-efficient green amenities, gourmet designed kitchens and spacious master bedroom suites comparable to any 5-star resort. These single-family attached homes offer inspiring modern designs with authentic architectural accents adorned with rich complimentary color palettes. Residents also enjoy an attached two-car garage with convenient direct access to the home, and beautiful shared amenities such as a lavish pool, spa and barbeque area.
Now taking reservations. Prices contemplated to start from $399,990 for 1,723 to 2,000 square foot private residences. View ENCUE at encueliving.com.
KAYLA FERTAL – Sales Associate – Cambridge Properties
ENCUE presents intelligent interior spaces and notable standard features such as energy efficient windows, doors, appliances and climate systems. Available enhancements such as private elevators and rooftop decks bring the complete experience home. In addition to enjoying the community's private pool and spa, residents will delight in being able to walk to many of the area's most popular restaurants and entertainment venues. Most of the premier area's employment centers and attractions are within a walk, bike ride or short drive.
Contact: Kayla Fertal, Cambridge Properties Sales Associate at Kayla@encueliving.com M: (602) 826-9050 O: (602) 402-0067
Metro Phoenix Area homebuilders are enjoying an extended selling season. The typical slowdown JIM BELFIORE that occurs every summer has – President – not yet occurred this year in the Belfiore Consulting new home market; buyers have continued shopping, pushing new home sales to surprisingly high volumes despite the summer heat. From mid-June to mid-July, home shoppers executed nearly 1,550 purchase contracts with homebuilders – 8% more than during the same period one year ago. While homebuilders have achieved greater sales volumes resulting from demand growth, price increases have been almost non-existent on a metro-wide basis. The priority to maintain greater volumes, often amidst high price sensitivity in the most competitive market area, has stifled builders’ abilities to raise prices. The lack of new home price appreciation will be the most prominent obstacle faced by many Metro Phoenix Area homebuilders in the coming months. The problem will be most severe for those builders running low on land and lots. The lack of appreciation, coupled with significantly higher builder costs, is the culprit behind slower land and lot sales. Land deals are likely to continue to be limited so long as builder margins remain squeezed; many builders are unable to buy new lots and land without owner/developer concessions on price. On the other hand, many land owners and developers are aware builder supply is critically lacking, and thus stand unwilling to negotiate.
National Builder Sales Manager Homeowners Financial Group
The Secondary Market Mortgage rates are largely determined by the secondary market, where mortgages are bought and sold. Fannie Mae and Freddie Mac are two government agencies whose job it is to keep the mortgage secondary market stable.
Treasury Bond Market Mortgage rates most closely follow the 10 Year Treasury Bond, but this is not an exact science. As bond prices go down, the yield (the rate) goes up. Mortgage rates in the secondary market must then also rise, or all investors would put their money in the bond market, as opposed to mortgages. Overall Economy As with the stock market, mortgage interest rates tend to move up and down. When the economy is strong, rates are higher. When the economy is slower, rates drop.
Personal Influence on Rates 1. Credit score Your credit score is a number that lenders use to help predict how reliable you’ll be in paying off your loan.
loan. In general, shorter term loans have lower interest rates and lower overall costs, but higher monthly payments.
2. Home price and loan amount Typically, you’ll pay a higher or lower interest rate on that loan if you’re taking out a particularly small or particularly large loan.
5. Interest rate type Interest rates come in two basic types: fixed and adjustable. Fixed interest rates don’t change over time. Adjustable rates have an initial fixed period, after which they go up or down based on the market.
2. Down payment In general, a higher down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property.
6. Loan type There are several broad categories of loans: conventional, FHA, and VA. Rates can be significantly different depending on which type of these loans you 4. Loan term The term of your loan is how long you have to repay the choose.
Builders will still need to make purchases, and demand for new lots is only expected to increase. A total of 266 (48%) of now active Metro Phoenix Area new home subdivisions would sell out within the next 12 months if they would sell at the average rate experienced over the prior year. Of these near-sell-out communities, an astounding 99 have fewer than 5 total lots and/or homes remaining within. In order to continue bringing communities to market to replace communities as they sell out, Metro Phoenix Area homebuilders will need to soon start pushing up prices to recoup additional construction and lot purchase expenses they have absorbed since early 2015. Accordingly, overall this year, Belfiore still projects 3% to 5% appreciation in net new build home prices, driven by homebuilders’ attempts to offset their prior and anticipated expenses. Fortunately for homebuilders, current trends indicate pricing power will improve. The overall outlook for the Metro Phoenix Area new home market remains positive, perhaps as positive as it has been since the post-housing bubble. Housing demand is as healthy as it has been during any period in the last decade, and the market is expected to continue to strengthen, as employment growth and strengthening household balance sheets continue to widen the pool of buyers. For additional insight, call Jim at Belfiore Real Estate Consulting, (480) 706-1002, or visit BelfioreConsulting.com.
Contests, Prizes, Breakfast & Beverages, Sponsorship Opportunities and Much More!
CAREFUNDGOLF.COM | 480.305.8607
ArizonaHomebuilder
AZBUILD
august | september 2016
You’re an Arizona Builder, We’re an Arizona Lender.
BILL ROGERS
EXPERIENCE THE HFG DIFFERENCE
recognize the value of working with builders who are
with local and in-house Processing,
building Arizona communities. Working with other local
Underwriting & Funding. Call us
companies helps Arizona to build stronger communities.”
today to find out how we can help
-Bill Rogers, CEO of Homeowners Financial Group
you sell more homes and give your clients better service!
Cover Art | Family Development
CEO Founder & CEO of Homeowners Financial Group Financial
“As an Arizona based lender we always welcome and
Corporate Office | 16427 N. Scottsdale Rd. Suite #145 | Scottsdale, AZ 85254 | www.homeownersfg.com | 480.305.8550 All loan products and loan amounts may not be available in your area and are subject to credit and property approval pursuant to guidelines. Information is subject to change without prior notice. Other restrictions and limitations may apply. Homeowners Financial Group USA, LLC is licensed in AZ: Mortgage Bankers License No. BK 0906222, NMLS#93718; CA: Department of Business Oversight under the Finance Lenders Law License No. 603 F033; ID: Mortgage Broker/Lender License MBL-5879; NM: New Mexico Mortgage Loan Company License 03068; ND Money Broker License MB102538; OR Mortgage Lending License ML-5229 WA: Consumer Loan Company License CL-93718; MN: Residential Mortgage Originator License MN-MO-93718; MT: Mortgage Broker/Lender License 93718; NE: Mortgage Banker License NE93718 and registered in CO: Mortgage Company Registration. • 480.460.0996 • www.DesertLifestyle.net Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com Produced by Desert Lifestyle Publishing