Troy's Blog

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The Chandler Ostrich Festival 2010 is just around the corner

The 22nd Annual Chandler Ostrich Festival is coming to Chandler Arizona March 12th - 14th at Tumbleweed Park (southwest corner of McQueen and Germann roads).  From it's small beginnings in 1989, it has grown to be one of the premier festivals in the Southwest, with attendance up to 350,000 for the three day event. 

There is something for the entire family at this fun-filled event.  There will be three stages to entertain you throughout the weekend with music and dance.  A wide array of nationally known artists will perform on the Main Stage nightly.  The Community Stage and Ostrich Coop Stage will feature the top local talents and the newest venue, the Chandler Ranch Stage will showcase family music and entertainment in the day and dance bands at night.  

2010 Chandler Ostrich FestivalLike any world class festival, all kinds of food will be available from the traditional fair favorites to Ostrich burgers.  Of course, don't forget the main attraction, The Ostrich races!  

What, you've never been to the Ostrich Races?  Well, if you have never seen this attraction, you must make it a point to witness the unpredictability of the races this year.  The Ostrich races are a staple of the Chandler Ostrich Festival, and will provide hilarious entertainment for anyone lucky enough to watch.  They are held, of course, on the Ostrich Track.  

Ostrich Race Schedule:

Friday, March 12 | 4pm, 6pm        
Saturday, March 13 | 12pm, 2pm, 5pm
Sunday, March 14 | 12pm, 2pm, 5pm 

To go along with the ostrich races, a huge carnival midway will have more rides than ever, as well as a live ostrich display, pig races, and a 100 animal petting zoo.  There will also be  amateur boxing you can participate in at the midway on Friday at 4pm, and Saturday at 1pm.  Proceeds from every boxing show will go towards autism research and awareness.   Many artisans will be displaying their Arts and Crafts in booths throughout the midway as well.  

The kids zone is loaded with bouncies, pony rides, and games just for kids.  The kids zone will also showcase the high flying action of dockdogs, as well as stunt and thrills show by the fearless Flores family, and a show featuring performing Baboons. 

The sideshow tent will entertain you with a rhinestone roper, a comic juggler and magician, a crossbow archery show, and a freakshow you have to see to believe.                                         

Ostrich FestivalAlso on the ostrich track, there will be the Imperial Knights jousting for your entertainment.  There is nothing fake about this event.  From sword fight to a full joust, they provide every combination of knightly skills. 

Jousting Schedule:

Friday, March 12 | 3pm, 5pm
Saturday, March 13 | 11am, 1pm, 3pm
Sunday, March 14 | 11am, 1pm, 3pm  

 Tickets range from $9 to $7 for general admission, and an all-day ride wristband is $25.  You can pick up discount tickets at any Fry's or the Chandler Chamber of Commerce.  Parking is $5 per car. 

This areas rich and unusual heritage in Ostrich ranching provides the basis for a wonderful family oriented community event.  Young and old alike can explore, relax, and enjoy the many exhibits, games, and shows.  Plan to spend some fun time this year as we celebrate Chandler's unique history in a fun family friendly festival.  For more information regarding the Chandler Ostrich Festival, please visit www.ostrichfestival.com.

Pre-Foreclosures still playing a major role in the Arizona housing market

Pre-Foreclosures are still playing a major role in the Arizona housing market.  The number of pre-foreclosures increased again in February, after experiencing a decrease in January to their lowest level since late 2008.  This is just a sign that pre-foreclosures, or notice of trustee sales, are continuing to play a significant role in the Arizona housing market.  The drop in pre-foreclosures in January had some housing market analysts hopeful that lenders were making headway in working with borrowers on loan modifications.  Unfortunately, February numbers were at 7,604 pre-foreclosure notices compared to 6,762 in January, and increase of 842.  The number of foreclosures fell in February to 4,271 from 4,452 in January, but the increase in pre-foreclosures for February typically means more foreclosures in the future.  The only thing that could reduce the number of foreclosures is more loan modifications and short-sales.

Prices for both foreclosure home sales and resale home sales are slightly moving upward according to data from NetValueCentral Inc.  They show the price per square foot of a regular resale home climbing to $106.48 in February, which is the highest it has been in seven months.  The price per square foot of foreclosure homes sold was around $80 in February, just slightly up from $78 recorded in January.  Foreclosure sales have dominated the Valley's housing market lately, with only November and December having more regular resale home sales than foreclosures.  With foreclosure sales outnumbering regular resales again in January and February, and the number of pre-foreclosures up by almost 850 over January, I don't see the trend ending any time soon.  I would anticipate pre-foreclosures, short-sales, and foreclosures to continue to dominate the Arizona housing market for at least another year or two.

Crime rate in Chandler, AZ down 10 percent

Crime rate in Chandler down 10% since 2005.  Although the population in Chandler has continued to increase year after year, crime in every category but one is down over the past five years.  When I first moved to Chandler in 1996, the city was just getting to the point of reaching 100,000 in population.  Now, Chandler is approaching almost 250,000 if it hasn't already gone over that number.  Over the past 5 years times have not been that great here, as in many parts of the country, due to the economy and housing market.  We are looking at an almost 10% unemployment rate in Arizona, and home values over the past 4 years have seen a drop in value of up to 50% in some areas.  With all the struggles, and increase in population, you would think that our wonderful city of Chandler would also be experiencing a higher level of crime, but instead, Chandler is experiencing a lowering of almost all types of crime over the past five years.  Violent crime and property crime is down by more than 10% from 2005.  Even the one category that has seen a silght increase of 2.5%, robbery, peaked in 2007 and has been decreasing ever since then.  See the table below for Chandler crime statistics.

CRIME TYPE 2005 TOTAL 2009 TOTAL PERCENT CHANGE 2005 to 2009
Criminal homicide 9 6 -33.33%
Forcible rape 54 46 -14.81%
Robbery 200 205 2.5%
Agrivated assault 564 484 -14.18%
Burglary 1,439 1,376 -4.38%
Theft 5,684 5,599 -1.5%
Motor vehicle theft 1,200 483 -59.75%
Arson 65 62 -4.62%
TOTAL 9,215 8,261 -10.35%



With all the struggles we are seeing, it is a fantastic sign that Chandler has seen it's crime rate decreasing to a level that is 10% lower than it was in 2005.

Losing your home in a foreclosure?

Losing your home in a foreclosure?  How homes are foreclosed on varies by state, but here in Arizona it is a pretty simple process.  What starts the foreclosure process is when a homeowner falls behind on at least three mortgage payments.  It used to be that on the 91st day of non payment of a mortgage, the lender would initiate foreclosure proceedings.  I have heard that some homeowners these days have missed over a years worth of mortgage payments and their lender had not yet started the foreclosure proceedings.  This has allowed homeowners to save a great deal of money, not paying a mortgage or rent, as well as allowing them to stay in their homes much longer than the typical time period that it takes for eviction.

After three missed mortgage payments, the lender initially hires a trustee to handle the foreclosure which helps ensure that the follow the correct procedure.  In Maricopa County, the trustee files a notice of trustee sale with the Maricopa County Recorder's Office.  This is the time when the auction date is set as well, but the lender can choose to move or cancel that date depending on the negotiations with the borrower.  The trustee must provide information to the homeowner about the pending trustee sale (foreclosure) of their home.  If the homeowner files for bankruptcy, that typically will delay the foreclosure sale.

If the trustee sale is going to occur, an opening bid amount is usually posted at least a day before the auction.  It used to be that the opening bids were always for what the amount owed on the mortgage was, but with property values dropping by fifty percent in some areas, lenders are dropping their opening bids to way below what is owed on the home.  Lenders do not want to have to take the house back, evict the homeowners, and hire a real estate agent to resell the home.

All Valley foreclosure auctions used to be held at the county courthouse, but now that there are as many as five foreclosure auctions a day, auctions are also held at the offices of the lenders' trustees.  The main auction on the county courthouse steps starts at noon and auctions at the law offices start at 9am.  If you are interested in any of these properties, Arizona statute requires that any bidder must provide a $10,000 cashier's check to participate.  The winning buyer must pay the full amount of the bid by the end of day on the next business day.  If you are unsuccessful in your bid, you will receive your $10,000 deposit back.

There is a huge backlog of foreclosure homes and pending loan modifications, and this has led to many foreclosure auctions to be postponed.  Typically the homeowner will be notified of a postponement by the trustee, but sometimes postponement is only listed on the website of the group the lender has hired to sell the foreclosure property, or may be announced by the auctioneer right before the scheduled auction.

Once a foreclosure property has been purchased at auction, and final payment made the following business day, the new homeowner can begin evicting the former owners if they are still residing in the home.  The previous homeowners who lost their home in a trustee sale have five days after being notified by the new owner to evacuate before a forcible eviction can proceed.  On the sixth day, the new owner can file for a forcible eviction in local or county court.  In 2009, the Maricopa County Sheriff's Office handled 1,416 forcible evictions, or almost four forcible evictions per day.  The former homeowner can appear in court to fight the eviction, but if they lose, the new owner has the right to request the Maricopa County sheriff to send a constable to evict them.

Getting foreclosed on is not something anyone would want to happen to them, and here in Arizona it is happening way too often.  If you are losing your home to a foreclosure, please be sure you understand the process, ask for help, and do not ignore the paperwork that is being sent to you.

The iGeneration, does not mean iPod or iPhone

There is a new generation of kids growing up these days, the iGeneration, and it's all because of technology.  The iGeneration "wants to be constantly connected and available in a way even their older siblings don't quite get", said Sharon Jayson in a USA Today article the other day.  As the Y Generation gets older, the iGeneration does not remember a time without constant connectivity through technology.  These kids are always going to be available to their peers no matter where they are.

Larry Rosen has written a book called "Rewired: Understanding the iGeneration and the way they learn."  Rosen says the little "i" stands for individualized.  "Everything is customized and individualized to me.  My music choices are customized to me.  What I watch on TV is customizable to me."  Rosen also says "the iGeneration believes anything is possible.  If they can think of it, somebody probably has or will invent it.  They expect innovation."  Portability is key to this generation, as they are inseparable from their wireless devices.  Rosen's research discovered that 35 percent of children ages 6 months to 3 years have a TV in their bedroom, 10 percent of children ages 4 to 8 have a computer in their bedroom, and 51 percent of children ages 9 to 12 have a cellphone.  When I was a kid, my parents would have thought it was criminal to have a TV in my room, and cell phones were not even invented yet.

New generations are developed through the use of new technologies.  The iGeneration is taking in astronomical amounts of information, screening out unimportant details, and focusing on the parts they need.  They are less interested in learning facts and data, and more interested in how to gain access to it, produce it, and integrate it into their life.  I guess my 11 year old son will be forever known as part of the iGeneration, and I can't wait to see what they accomplish!

My sons' shortened soccer season is ending on a good note

My son's shortened soccer season is ending on a good note.  His soccer season didn't start this year until December 2009 because he decided to try tackle football for the first time this last fall.  Typically he would play club soccer starting in August, and it would go through March.  This year football lasted through Thanksgiving weekend, so December 7th was his first soccer practice.

His first game, with a new club team, and playing U12 as an 11 year old, was on December 12th, and wasn't pretty.  My son only had an opportunity to practice with the team once before that game.  The game started off bad and got nothing but worse.  They ended up losing 1-7, which is an embarassing score at that age.  My son felt bad because he thought he didn't play well.

Their second game wasn't until January 16th, so my son had an opportunity to practice with the team several times, and get comfortable with his role on the team.  They ended up winning that game 4-2 against a team they had lost twice to earlier in the season.  On January 30th, they were winning their game 1-0 with under five minutes left, and they let an easy goal in their net to end up tying that game 1-1 to another team they had lost to before.  They won their next game 2-0, and were gearing up to play in their first tournament since my son started playing with them.

Gilbert Soccer Tournament ChampsThe tournament started out on a Friday night with our team totally dominating the other team throughout the game, and winning 3-0.  The next game on Saturday morning was a game played in the rain, with huge wind gusts, and temperatures probably in the 40's (not something we are typically prepared for in Arizona).  We completely dominated the game, but couldn't get the ball in the net.  My son alone had 4 shots on goal, and our team probably had over 20 shots on goal.  The other team had one shot on goal, and you guessed it, it just happened to sneak by our goalie.  We lost 0-1.  This was our first loss since the very first game my son played in with the team.  However, we were still in the running to play in the championship if we won our next game Sunday morning.  We ended up winning that game 3-1, and made it to the championship game against the team we lost to the game before.  We dominated the championship game just as we had the last time we played them, but the difference was that we scored. We ended up winning 3-1 and won the tournament.

Chandler Soccer Academy ChampsToday we had our second to last league game.  My son has been very frustrated about all the opportunities he has had to score, but hadn't been able to put the ball in the net.  We started the game a little show, and by halftime, we were down 0-1.  About five minutes into the second half, we had a corner kick.  The ball ended up short and took a big bounce that ended up right in front of the goal.  My son was in the right place at the right time and headed the ball into the goal.  His first goal of the season, finally!  We could all breathe a huge sigh of relief.  We ended up coming back in that game and winning 3-1.

So, with one league game remaining, and one final tournament to play, we have been on quite a roll since the first game my son played in.  Since the worst loss for the team this year, we have gone on to win 6, tie 1, and lose 1.  We also took first place in the only tournament we have played in, and my son scored his first goal in a comeback win today.

I just hope the team can finish the season as strong as they have been playing over the past two months.

7th Annual Chandler Classic Car and Hot Rod Show

Come to the 7th Annual Chandler Classic Car and Hot Rod Show.  The show is FREE to the public, and will feature over 200 classic cars and hot rods, as well as arts and craft vendors and a kids' area.  There will be three classic-rock bands performing throughout the event, Star, Panhead Ronnie, and Grove Street.

The event takes place in Downtown Chandler at the Dr. A.J. Chandler Park at 35 S. Arizona Avenue.  It will run from 9 a.m. through 5 p.m. on Saturday, February 27, 2010.

The Chandler Classic Car and Hot Rod Show was founded in 2003 by the late Jerry Biondi and Maury Williamson.  Maury is still the owner of the Country Clipper Barber Shop located in the Chandler Historic Downtown area.  Jerry and Maury wanted to give back to the downtown area, have a fun place for car enthusiasts to enjoy classic cars, and to raise money for local non-profit organizations, and this is why they started the Chandler Classic Car and Hot Rod Show.

If you have a car that you would like to register for the event, it's not too late.  You can actually register on the day of the event.  Registration to showcase your vehicle is $40, and the proceeds from this years event will benefit ICAN (Improving Chandler Area Neighborhoods).
 ICAN provides free, comprehensive out of school time programs that empower youth to be productive, self-confident, and responsible citizens.

Here are some pictures my 11 year old son (10 at the time) took from last year's event:

 Chandler Classic Car and Hot Rod Show

 Chandler Custom Car and Hot Rod Show

Chandler Custom Car and Hot Rod Show

Chandler Custom Car and Hot Rod Show

Chandler Custom Car and Hot Rod Show

Are there small signs of hope that the Arizona housing market is recovering?

Are there small signs of hope that the Arizona housing market is recovering?  According to ASU professor Karl Guntermann, Arizona State University's Repeat Sales Index is showing shimmers of hope.  For the first time in nearly three years, preliminary data shows that the annual rate of decline for January is down to a single digit.  The Index has been dropping consecutively for the last 33 months since home prices peaked in 2006.  The Repeat Sales Index measures the difference in the average price of selected homes from year to year.  An index of zero percent would mean that prices were roughly the same as they were a year earlier. By looking at the table below, if the trend continues, we could have a Repeat Sales Index of zero by April of this year.

MONTH MEDIAN PRICE PERCENT DECLINE
February $121,000 37%
March $119,000 37%
April $117,500 35%
May $119,000 33%
June $122,000 31%
July $125,000 28%
August $126,500 25%
September $130,000 23%
October $131,000 20%
November $135,000 17%
December* $133,000 13%
January* $125,000 9%
* Preliminary Data

As far as foreclosures go, that index of zero may have been reached according to preliminary data.  In November the index for foreclosed homes was 9 percent.  By December the preliminary numbers show the index falling to 2 percent, and January falling to zero.

The median sales price of homes has started to drop again.  By looking at the table, you can see that the median sales price had been on the rise, from a low of $117,500 in April to $135,000 by November.   The last two months have seen the median price dropping again, down to $125,000 in January.  Hopefully this is just a seasonal thing, and by April the trend will begin moving upward again.

Arizona are you ready for the proposed foreclosure bills?

Arizona are you ready for the proposed foreclosure bills?  Here is what Arizona Democrats have introduced to legislation to help with the state's foreclosure crisis, as well as to try and protect homeowners:

HB2715 - This bill would give homeowners facing foreclosure an extra 60 days to work out a loan modification.

How about requiring banks only a certain amount of time to get loan modifications completed?

HB2740 - This bill calls for allowing renters in homes that are in foreclosure to remain in the home and continue to pay affordable rents.  It also allows for homeowners who lose homes to foreclosure to remain as renters.

I would like to know how this is going to work?

HB2766 - This bill requires landlords to give a renter at least 30 days' notice if they have to move out of a foreclosure home.

HB2321 - Requires homes to be maintained during foreclosure.

These two bills actually seem to make sense, and should have already been enacted.

HB2739 - This bill creates a mandatory mediation program for homeowners facing foreclosure.  This would be supervised by the Arizona Supreme Court.

Sounds like this bill could cause a delay in a lot of things throughout the mediation process.

I'm typically not one to express my political views, but there are so many things changing in real estate as well as the lending field, that it is difficult to keep up.  I just hope that the economy gets better soon, and we can get back to selling resale and new homes, and forget all about these short sales and foreclosures.  I can hope, but I think we are still a few years away from that.

The FHA has tightened it's lending requirements

FHA has tightened it's lending requirements in order to maintain their capital reserves and manage risk better.  Here is what a recent article in Realtor Magazine had to say.  They are raising the upfront mortgage insurance premium (effective April 5th), increasing the minimum down payment for some borrowers, and reducing the seller concessions (both to be posted in the Federal Registry in February with a 60-90 day comment period).  The FHA is also seeking legislation to raise the annual mortgage insurance premium above the current level of .55 percent.

What does this mean to the borrower?  

With the upfront mortgage insurance premium going to 2.25 percent from 1.75 percent, it won't affect the amount of cash the buyers will need to raise (it can be financed), but it will affect how much house the buyer can afford.  It could increase their monthly payments by $50 to $100.

The minimum down payment increasing to 10 percent for anyone with a credit score of 580 or less will impact many first time homebuyers who have yet to establish a credit history.  The difference between 3.5 percent and 10 percent on a $150,000 home is an extra $9,750 in down payment the buyer will have to come up with.

The reduction in the seller contribution from 6 percent to 3 percent will hurt the buyers as well, as now they are having to pay much more of their closing costs, like title insurance and the mortgage origination fee.  Buyers may have to come up with another 1 percent of the mortgage amount.

There is a fine balance between providing access to underserved communities, supporting the economic recovery, and maintaining a healthy financial balance for the FHA to thrive and survive.  Let's hope the FHA tightening their lending requirements will not go too far to disrupt this balance of what is good for the economy.