Author Archives: AgentImage

Announcing the U.S. Bank Doctor Loan Programs!

Realtors working with physicians who have 6 months left in their residency program or who have completed their residency program within the past 3 years, can take advantage of today’s low mortgage interest rates and purchase a home now!

Borrower Eligibility Requirements

  • Doctors of Medicine (M.D.) recipients only that have accepted a permanent position
  • The income from the permanent position will be used to calculate the debt ratio
  • A copy of the medical license and employment contract is required at mortgage application

Other Program Advantages

  • Fixed or adjustable rate mortgages
  • Borrow up to $850,000 on a 1 unit primary residence, existing or new construction
  • 10{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469} down payment (5{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469} borrowers own personal funds, including 401k) the remainder can be a gift or seller contribution
  • NO mortgage insurance required
  • Subordinate financing is allowed
  • Rate and Term refinancing is available

These mortgages are available now. Let’s get together and discuss all of the benefits of working with U.S. Bank Home Mortgage. A trusted financial partner and a leader in the mortgage industry!

Mortgage Loan Originator
17851 N 85th St #140
Scottsdale, AZ 85255
Cell: 602-616-1651
[email protected]
NMLS# 502365

For a list of Lenders that deal with Physician specific loans, please submit the contact form below. For faster service please feel free to contact Mackey Martin directly by text of by calling 480-688-2747.

New Listing Activity Slowing which is a good sign for Sellers, Mackey Martin, April 21, 2014


The heat is starting to accelerate upwards and we are reminded that summers in Arizona are here but for a brief time period of approximately 4-5 months. Those of us that love this state and its wonderful weather wait in anticipation for the moderate weather to return which typically appears somewhere in October. At least we don’t have the issue of ice and snow, but with the aide of air conditioning both in cars and houses we find the dry Arizona weather to be very acceptable.

New listing inventory is on the decline and as you can see from the Market Index above we are in a very good position on total inventory. The Market Index has continued to improve for several weeks now.

We continue to encourage everyone that wants to purchase to move forward with the historic rates that we are experiencing. Please see rates below:

Nick Heth with EverBank, [email protected], 602-321-1684:

Conforming 30-year fixed 4.375{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469}
Jumbo 30-year fixed 4.25{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469}
Jumbo 7/1 arm 3.25{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469}

Origination News

FICO plans to release a new broad – based scoring model this summer that helps lenders analyze a consumer’s credit risk with greater accuracy. This product launch will represent FICO’s first changes to its scoring model in six years, said Anthony Sprauve, senior consumer credit specialist at FICO.

In an interview, Sprauve could not provide specific features of FICO Score 9 at this time, but said the fundamental way the San Jose, Calif., analytics firm looks at data typically found in credit bureau reports is the same. For example, the product will still review a consumer’s length of payment history and balances.

However, FICO Score 9 will analyze post-recession data in terms of how a person’s spending and credit habits have changed now compared to six years ago. Consumers who previously had good credit scores will see slightly better scores in the new product model, Sprauve added, while people with scores that need work will perhaps score a little lower.

Overall, lenders will know the risk assessment pertaining to any individual looking to receive a loan or manage their account and whether they are ready to take on debt.

“For lenders, the FICO Score 9 is a good thing because it gives them a more laser-focus on where a person is in that spectrum of being able to repay debt because it’s in nobody’s interest to give credit to someone who’s not ready to take on credit,” Sprauve says. “The score is about being able to accurately assess that risk.”

The FICO Score 9 is a broad-based score. FICO plans on rolling out industry-specific scores for all major credit product lines such as mortgages, auto loans, credit cards and personal loans later this year, Sprauve said.

Lenders purchased more than 10 billion FICO scores last year and nearly 30 million U.S. consumers received access to their score for free. Furthermore, the 25 largest credit card issuers, top auto lenders and thousands of other businesses rely on the FICO score for consumer credit risk analysis and federal regulatory compliance.

Furnished by Nick Heth with EverBank

Below is data extracted from “The Cromford Report” which as you can see is as
of April 20, 2014


April 19 – In just the last 2 weeks, the rate of arrival of new listings has dropped noticeably. Until April 6, the 7-day rate has generally been about 10{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469} higher than in the same period of 2013. Last week the difference dropped to about 5{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469} and this week it is has plunged to 5{860953a1877e6b70af6959a18268dc0e8c7ef84e3a910c2e4c2963e24bc45469} below.

We have seen 2,335 new listings in the last 7 days. This is the lowest total since the first week of January. If this trend continues for some time it could prove to be significant good news for sellers.

April 18 – The annual sales rate for all areas & types in ARMLS stands at 80,775 today. This is just a shade above the long term average for 2001 onwards. It is also the lowest level since August 2009 and a long way from the peak of 106,821 which was measured in October 2005. Given that the population is much larger now than it was in 2005, this represents a fairly low annual turnover rate.

Along with many other signals, we are watching for the turning point in the annual sales rate. Once it starts increasing we know the cooling off that has been developing since July 2013 has come to an end.

The lowest rate we have seen in recent history was 48,493 which occurred in June 2008 and the gradual increase during the following 12 months was the sign that falling prices were staring to stimulate higher demand.

In 2014 prices are unlikely to fall enough to stimulate higher demand. Instead it is more likely to be the greater availability of purchase money loans that starts to turn the tide and generate more buyer activity. A combination of higher rates and easier underwriting rules would do it. At the moment there is more talk of easing underwriting than measurable action. But the trend is building and it is likely that many lenders will be unwilling to tolerate the current extremely low level of mortgage applications. We anticipate lower limits on credit scores, smaller down payments and greater acceptance of short sale and foreclosures in borrowers’ history. All this will be subject to restrictions in the Dodd-Frank Act. However now the rules are clearly laid out, lenders will probably find multiple new ways to live within the rules while growing their business effectively. If this does indeed materialize we are likely to see the turning point in the annual sales rate as an early indicator of the new trend.

April 17 – A little more improvement for sellers has taken place over the last week, but the emphasis is on the world “little”. The change is so slight as to be only just above imperceptible. Demand is increasing slightly faster than supply (when adjusted for seasonality).

When we look at the rate of arrival of new listings they are still higher relative to last year at this time, but the gap is narrowing.

February 18, 2014

“Did We Just Enter a Buyer’s Market?”, Mackey Martin

We continue to watch the marker month of February but to date the market is raising it’s ugly head to declare that growth for the moment is non-existent, infact watching the Market Index below shows that we are losing ground in the Phoenix Area.

Seller’s will be pressed from every direction to think with logic based on statistical data, versus the emotion of the past year of 2012 to mid-2013 where we saw signigicant growth in the market place.

There are only three things that control a sale of a property:

  • Price
  • Condition
  • Location

SellersWhen you have a market that is so unrealible your single focus will be pricing.  Inventories are climbing due to overpricing and your job is to be priced at “Market Value”

Buyers:  You have rates on your side, so now is the time to purchase.  Your job will be to have a seasoned team of professionals to help you journey the choppy water and to try and purchase at “Market Value” if not below.  Mackey Martin

Below is data extracted from “The Cromford Report” which as you can see is current as of today’s writing.


February 18 – US home builder confidence has suffered its largest ever monthly drop between January and February 2014. The National Association of Home Builders (NAHB) housing market index plunged from 56 to 46. This is the first reading since May 2013 that has dropped below the crucial 50 mark. When it is below 50 the majority of home builders think that market conditions are poor rather than favorable.

  • current sales conditions fell 11 points from 62 to 51
  • expectations for the next 6 months sales fell 6 points from 60 to 54
  • prospective buyer traffic fell 9 points from 40 to 31

The NAHB blamed the drop on poor weather conditions. However when we look at the changes by region we find:

  • Northeast dropped 8 points from 41 to 33
  • Midwest dropped 9 points from 59 to 50
  • South dropped 7 points from 53 to 46
  • West dropped 14 points from 71 to 57

Since the largest drop was in the West where the weather has been rather good (too dry in fact), we are not buying the poor weather argument.

The weakening trend in demand that is all too clear in Greater Phoenix is reflected in the lower buyer traffic reported by home builders at the national level.

February 16, 2014

February 16 – The monthly median sales price for all areas & types dropped below $180,000 today. At the same time the annual median sales price reached $180,000 from below. When the long term average moves higher than the short term average this is a distinctly negative signal for prices. The cooling in the market has now been around long enough (since July 2013) to cause some clear negative signals to start showing up in pricing measurements. We expect to see more of these over the next few months.

Having peaked at $187,840 on December 30, the monthly median sales price has declined to the same level it reached in mid-June 2013. This means that within 4 months we will be measuring negative appreciation as measured by the monthly median sales price, if prices stay at or below today’s level.

February 15, 2014

February 15 – One easy way to observe how weak demand is at the moment is to compare the count of pending listings on January 15 and February 15. In every year there is normally strong growth in this number between these two dates. We have been measuring these numbers since 2001 and 2014 is the first year the increase has been less than 1,000. Even in 2007, which was a very soft year, pending listings grew by more than 2,000 from 5,201 to 7,255. In fact, the previous worst year was 2008 with a growth of only 1,317 from 3,610 to 4,927. In this context 2014’s growth from 5,420 to 6,396 looks very disappointing for sellers. The best year for this measurement was 2005, when pending listings grew from 7,831 to 11,208.


This is an interesting time of year.  I always reflect with consumers and my colleagues that this is a marker month for the year.  I have seen the market reveal itself as late of mid-March, but it always gives me direction with counseling with Buyers and Sellers.  Watching February is similar to the anticipation of a child who waits for Santa Claus to arrive.  As expected the market starts unveiling itself and we can see somewhat where we are headed for the upcoming year.  Currently the market is very quiet and you can imagine as I wait for this information the silence can be quite deafening.

Below are some entries from The Cromford Report that is statistically based and I believe to be the most accurate in giving us a glimpse of what is going on in our market proper.


February 9 – In true Phoenix tradition, the balanced market did not last very long – from October 27 to February 8 to be precise. We are now in a confirmed buyer’s market with the Cromford® Market Index dropping below 90. Demand is weak with the Cromford® Demand Index at 78.7, its lowest level since May 2008. Supply is not high, but it is growing fast and the Cromford® Supply Index stands at 87.7, its highest level since July 2011. The deterioration in market conditions for sellers is across the board. No geographic area or price range is improving. However some sectors are much more favorable to sellers than others. In general the luxury market and the active adult areas are more favorable for sellers than the rest of the market. In the majority of sectors, prices are now under downward pressure, although they have not responded much yet due to residual seller optimism. However, if current market conditions prevail we are likely to see lower sales prices in many of these areas before too long.