In Paradise Valley, the 36-holes at the JW Marriott Camelback Inn is getting what amounts to a new course with the opening of the new Ambiente Course in early November. Ambiente, which means “environment” in Spanish, replaces the old Indian Bend Course, originally opened in 1970.
The Golden Bear’s son had a chance to show his stuff at Golf Club of Estrella, and what he delivered is a challenging layout with a fascinating finishing stretch. The ‘Danger — Rattlesnake Habitat’ signs are a good reminder that you’re smack-dab in the middle of the desert.
America’s most-attended polo event is expected to draw up to 15,000 polo fans and revelers to WestWorld of Scottsdale. With the breathtaking backdrop of McDowell Mountains and beautiful white tents lining the field, the Polo Party will again be a weekend destination for both local residents and tourists.
As the investors leave and find less expensive housing elsewhere and the lending restrictions ease we are seeing a strong trend back towards normal in financed home sales, although we are not quite there yet.
We can sometimes get too focused on counting houses instead of counting dollars. This is particularly true when looking at how homes are funded.
Here are the numbers for August 2013 and August 2012 based on Maricopa County Affidavits of Value (i.e. excluding HUD sales and trustee sales)
Almost ten years ago, DMB, Inc. unveiled, what has now become, the wildly successful master planned community of Verrado. Set on just over 8,800 acres, Tom Lehman and John Fought created what is now one of Phoenix’s premier golf destinations.
Tucked in the foothills of the White Tank Mountains, stretching to more than 7,000 yards, and offering awesome views and rugged natural beauty, the Raven at Verrado is an exceptional golf experience that can accommodate golfers of all levels.
The popular PGA TPC Scottsdale event draws thousands of Scottsdale golf fans and many out-of-state visitors every year.
The 16th hole has become a special favorite. The high spirit of enthusiastic fans can be heard coming form the grandstands and corporate suites. This year there will be even more rowdiness with the addition of 20 new Skyboxes at the 16th hole bringing the total to 192. Let the fun begin.
Open organizers are also adding greenside suites and cabanas at the 16th. Can it get any better?
TPC Scottsdale Is a Popular Event
Tom King, chairman of the Phoenix Open states that corporate sponsorship has greatly fueled the new additions to the event. The Phoenix open is often one of the most attended events of the PGA Tour. The tournament drew 179,000 fans for it Saturday round earlier this year and just under 526,000 fans for the whole week. It is routinely the most-attended golf event of the year on the PGA Tour. Next year’s Phoenix Open will take place from January 27th to February 4th.
TPC Scottsdale Features Two Championship Golf Courses.
The Stadium Course
Since opening in 1986, The Stadium Course at TPC Scottsdale has hosted some of contemporary golf’s greatest moments. The course was designed by Jay Morrish and Tom Weiskopf specifically to serve as the stage for the PGA TOUR’s Waste Management Phoenix Tournament, an event that draws over 500,000 fans and is the largest spectator golf event in the world. In fact, the enthusiasm of fans transforms the 16th hole into “The Coliseum”, creating one of the most exciting settings in professional sports. This is just one of the many unique locations on the Stadium Course where fans witness history-making moments by the world’s greatest players on the PGA TOUR.
During the 51 weeks of the year when fans are not witnessing “The Greatest Show on Grass”, you can test your own skills on the same pristine fairways of “one of America’s best courses”, which are maintained to PGA TOUR-quality standards year-round. Lauded for its outstanding environmental stewardship, the Stadium Course is also the first golf course in Arizona to be designated an Audubon International Cooperative Sanctuary System.
The Champions Course
Built on the former site of TPC Scottsdale’s Desert Course, the Champions Course was designed by Randy Heckenkemper to fit seamlessly into the natural desert terrain. Rivaling its famous sister course in beauty and playability, the Champions Course is the consummate desert golf experience. The par-71, 7,115-yard course meanders over natural ravines and picturesque foothills, with five par-3s and a diverse variety of par-4s and par-5sm and a quartet of dramatic finishing holes make this golf gem a must play.
In Freddie Mac’s results of its Primary Mortgage Market Survey (PMMS®), average fixed mortgage rates jumped along with bond yields amid recent Fed remarks that it could begin tapering its bond purchases later this year. The average 30-year fixed-rate mortgage rose from 3.93 percent last week to 4.46 percent this week; the highest it has been since the week of July 28, 2011. This represents the largest weekly increase for the 30-year fixed since the week ended April 17, 1987. Despite the recent gains in mortgage rates, homebuyer affordability remains strong for the typical family in most parts of the country, which should help fuel the ongoing housing recovery.
Mortgage Rates Breakdown
30-year fixed-rate mortgage (FRM) averaged 4.46 percent with an average 0.8 point for the week ending June 27, 2013, up from last week when it averaged 3.93 percent. Last year at this time, the 30-year FRM averaged 3.66 percent.
15-year FRM this week averaged 3.50 percent with an average 0.8 point, up from last week when it averaged 3.04 percent. A year ago at this time, the 15-year FRM averaged 2.94 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week with an average 0.7 point, up from last week when it averaged 2.79 percent. A year ago, the 5-year ARM averaged 2.79 percent.
1-year Treasury-indexed ARM averaged 2.66 percent this week with an average 0.5 point, up from last week when it averaged 2.57 percent. At this time last year, the 1-year ARM averaged 2.74 percent. According to Frank Nothaft, vice president and chief economist, Freddie Mac:
“Higher mortgage rates may dampen some housing market activity but the effect will be muted by the high level of buyer affordability, and home sales should remain strong. For instance, existing home sales in May rose to its strongest pace since November 2009 and new home sales were the most seen since July 2008.
Source:Realtytimes.com for RE/MAX
If you are thinking of purchasing a home, this may be the best time to do so with both mortgage rates and home prices rising. Give us a call:(480) 421-8116
The Arizona Biltmore Golf Club is hosting a Play n’ Pay promotion tomorrow from 6:30 a.m. to 2:00 p.m. Book a tee time, and you will be able to play a round of golf before picking your price.
Golfers can play a round of golf and afterward pay the price they feel is fair for the outing. For this exclusive offer, players will be able to choose what they think their experience was worth. The Biltmore will donate a percentage of the profits to the 100 Club of Arizona, which provides financial assistance when serious injury, death or life-altering situations occur for public safety officers. This is for a good cause, so be honest and fair about the price you choose.
The Arizona Biltmore Golf Club
The Arizona Biltmore Country Club boasts a challenging 36-hole design, featuring two of the premier Phoenix golf resort courses: The Adobe and The Links. Built in 1928 and restored in 2004, The Adobe offers wide fairways and classic cross-bunkers for that extra challenge. The Links features rolling fairways, desert ravines and five pristine lakes that call for a high level of sportsmanship, bold shots and demanding accuracy.
The Adobe Golf Course
The Adobe course is considered stately and grand, a forefather of modern design. The Adobe offers a simplistic beauty hard to find in an era when trickery is a goal in golf course architecture. When you long for a relaxing yet challenging round, there are few equal. The lush, 50 year-old fairways and spacious layout are a reminder of the game the way it was meant to be – a time when graphite was for pencil lead and golf balls only came in one color. Like the great players of its day, the Adobe can tell you some stories.
The Links Golf Course
The younger of the Biltmore family, smart, fresh and a bit precocious, this celebrated layout has quickly earned the respect of golfers everywhere. Rolling fairways lined with luscious pines meander through some of the most stunning homes in Phoenix, Well-bunkered greens demand precision shot selection, and the contoured greens roll as they come. If you can accurately place the ball, you will be rewarded in your score.
Since opening in 1994, Grayhawk Golf Club has become one of Arizona’s most celebrated daily-fee golf clubs, mostly because of Grayhawk’s two exceptional 18-hole golf courses – Talon and Raptor . Both have earned numerous awards and accolades over the years, and have hosted high-profile competitive events such as the PGA Tour’s Frys.com Open (2007-2009). Other PGA Tour-sanctioned events include the Andersen Consulting World Match Play Championship (now known as the Accenture Match Play Championship), Tommy Bahama Challenge, the Williams World Challenge (now known as the Target World Challenge), FBR Open Pro-Ams, Tommy Bahama’s Desert Marlin, Thunderbird International Junior and The Detour.
After a round golfer’s head over to Phil’s Grille at Grayhawk. If you are one of the lucky ones… before you sit down at Phil’s Grill at Grayhawk Golf Club in Scottsdale, Ariz., or any clubhouse grill room, make sure you know Gary Van Sickle’s Rules of the 19th Hole.
Gary Van Sickle’s Rules of the 19th Hole.
There Must Be Fresh Popcorn
There Must Be a Dress Code
The Las Vegas Rule
The Jim Nantz Commandment
The Slauson Cutoff
The One-Ball Drink Rule
Hats On to You
The Whip-Out Doctrine
The No-Surfing Zone
The Free-Range Policy
All food items within arm’s reach are community property. This stricture is unassailable. One last thing, Sport: You gonna finish those fries? Read more
FHA’s 203K loan program is designed to finance the purchase and renovation a home, all in one loan.
Purchasing foreclosures also means discounts, but with the markdown is the price of repairs. According to RealtyTrac, foreclosures or REOs sold at an average discount of 27 percent compared to non-distressed properties in the first quarter of 2012. Through an FHA203(k) loan, potential buyers who want to purchase a discounted foreclosure but don’t have cash for the repairs may find a way to receive financing.
According to HUD, the 203(k) program is the department’s main program for rehabilitating and repairing single family properties, and it’s viewed as an important tool to revitalize neighborhoods.
In order to be eligible, the property must be purchased as a primary residence or it can be for a HUD approved nonprofit. Also, the property must be a one-to four-family residence that has been completed for at least one year.
The maximum amount that can be taken out for the property is based on the value or the purchase price of the property before rehabilitation (whichever is less), plus the estimated cost of rehabilitation or 110 percent of the property after improvements, according to HUD.
A down payment is required, and the minimal amount for a down payment is 3.5 percent of the accepted bid price plus the cost of financing repairs.
“FHA 203k approvals take more time, but are no more difficult than any other mortgage type,” said Green. “Borrowers should expect to provide the documentation required, and should respond to loan officer requests in a timely manner.”
Is a 203K Loan Right for You?
Buy a “Fixer-upper” or REO property needing renovation
Get funds to both purchase and upgrade your dream home
Refinance and renovate your existing home
Advantages of 203K
Loan amount based on the home value including renovations
Only one loan needed to both purchase and improve
Refinance and rehab your own home
Can be used to buy property otherwise not eligible for financing