If everything goes as planned, the residents of Queen Creek could be preparing and shipping their holiday packages from inside a new and spacious post office.

The land was deeded to the postal service by the Town of Queen Creek and construction in now well on its way towards completion of the new 26,000 square-foot post office, located just south of Ocotillo Road on the west side of Ellsworth Loop Road in Queen Creek and is expected to be complete by the end of the year.

Thanks to recent growth in the town and surrounding unincorporated areas, Queen Creek’s small post office has more than three times the customers today than it did five years ago. It served 10,000 mail delivery locations in October 2003 compared with 31,000 today. Queen Creek’s post office employs about 80 people.

The current post office is small and the town has out grown it. There is the same number of customer service windows as most other post offices, but the waiting area is cramped. A line that stretches longer than a few people often forces customers out the door. The parking lot is also very tight. There is no drive-thru lane for mailing letters, and it doesn't have a separate retail area for items such as stamps and shipping supplies. It's also too small to hold the mail and the town's carriers.

The new facility will keep both its workers and customers more comfortable and will operate a lot ore efficiently than the existing set up. There will be a drive-thru lane for customers can drop off their mail with out getting out of their cars and the space inside will have room for patrons to prepare their packages in comfort.

Superstition Springs, Mesa  -  Announcing a price reduction on 7127 E LAKEVIEW AVE, a 2,280 sq. ft., 2 bath, 4 bdrm single story. Now MLS® $195,000 - .

Property information

Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership.

To the casual observer, the moves may seem random.  There's a reason this is happening, however.

It starts with inflation.

As an economic force, inflation erodes the value of the U.S. Dollar.  Left unchecked, it drives up the Cost of Living as each dollar "buys less" at the supermarket, gas station, or anywhere else.

But with respect to mortgage rates, inflation's impact is more immediate.  Because inflation devalues the dollar over the long-term, it renders long-term mortgage bonds a less attractive investment for traders.

If bond investors are repaid in U.S. Dollars, after all, it would make the investment worth less if the dollar is in an inflationary freefall.

Therefore, in situations when inflation is likely to present, we find that traders often sell out of their mortgage bond positions which, in turn, drives down the bond prices.  Then, because bond yields move in the opposite direction of bond prices, rising rates are the inevitable result.

Lately, Wall Street is fearing inflation for a number of reasons:

Job losses are slowing, adding to consumer spending expectations
Gas prices have risen 41 days in a row
The federal government is increasing the money supply
These 3 factors -- plus a few others -- are all coming to a head around the same time and traders are getting defensive with their portfolios.  As a result, they're selling their mortgage bond positions and it's driving mortgage rates higher.

Rates may continue to trek toward 7 percent through July and August, or they may retreat toward 5 percent.  We can't know for sure.  What we can know, though, is that volatility in rates should continue until the economic picture gets more clear. That could be next week, or next year.

For now, be ready to lock at a moment's notice.  Mortgage rates are changing quickly.

Don't look now but oil prices are climbing.

This should worry today's home buyers and would-be refinancers because some of the same forces that helped to push crude past $50 for the first time in 4 months also cause mortgage rates to rise.

March 18, the Federal Reserve committed an additional $1.15 trillion to support the economy.

Since the announcement, investors have questioned whether the Fed is purposefully spurring inflation.  The Fed's total debt purchases now total $1.75 trillion.

And to finance its purchases, the Federal Reserve is printing new money, devaluing the U.S. dollar along the way.  This then leads to inflation which, all things equal, causes oil prices to rise, gas prices to rise, and mortgage rates to go with them.

As we've seen the last few summers, oil prices and mortgages seem to touch their yearly high points while the weather is warmest.

Always remember, our team is committed, qualified and equipped to help you and your clients navigate today's mortgage and credit marketplace.

As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 -- better known as the First-Time Homebuyer Credit Form.

True to tax code standards, the 10-field form is accompanied by 3 pages of instructions.

Form 5405 is a helpful, go-to resource for home buyers with questions about the tax credit.

For example, the form distinguishes tax consequences for homes bought in 2008 versus 2009, and clearly defines the term "first-time home buyer".

In addition, Form 5405 highlights the math behind the tax credit.  In general, the First-Time Homebuyer Credit is equal to the lesser of:

    * $8,000 for homes bought in 2009
    * 10 percent of the home's purchase price

Married couples filing separately are entitled to half of the expected credit, and homes sold within 3 years are subject to a credit repayment in the year the home ceases to be the "main home".

Form 5405 is a comprehensive reference.  However, be sure to check with your accountant for specific questions about your personal returns and how the First-Time Homebuyer Credit may impact your finances.  There is no substitute for professional, paid advice.

Turn on the TV or open a news paper and you will find lots of news about foreclosures and sellers not being able to pay their mortgages and how difficult it is to sell a home right now. Compare that to 2005 when the shoe was on the other foot and it was the sellers who had the upper hand, being able to sell their homes in under 30 days with multiple offers and more often than not receiving over asking price for the property with buyers often waiving their appraisal contingencies. Oh how times have changed. back in 2005 there were very few homes available for sale and droves of buyers. Being a buyer back then was stressful in the fact that the longer you waited, the more expensive the homes became.

Jumping 4 years ahead to 2009 and the pendulum has swung from a sellers market to a buyers market nationwide and particularly here in the Phoenix valley. One example of this is a buyer I am representing at the moment. My client is a first time home buyer who back in 2005 couldn't of ever dreamed of qualifying for the loan amount required to buy the home she is under contract on now. The subject home was built in 2005 and is almost 1600 sq.ft with 4 bedrooms. It sold back then from the builder for $191,500. The home is a single level residence in great condition which was verified by the home inspection. My client is under contract on the home for $110,000. A 42.5% reduction in value, but that is not the best part. We negotiated for the seller to pay $6,300 of the buyers closing costs, plus buy a 12 month home warranty on the place. The buyer has been approved for an FHA loan which requires 3.5% of the purchase price to be paid buy the buyer and the remaining 96.5% is financed. In this case my buyer had to come up with $3,850 for the down payment plus paid $225 for the home inspection and $68 for a termite pest inspection totaling $4143. Because my client has not owned a home in the past 3 years she qualifies for the First Time Home Buyer Tax Credit for which she will receive $8000 back when she files her taxes.

To sum up what my client is experiencing:

• She has bought a home that only a few years ago thought she would never be able to afford.
• The total payment for Principle, Interest, Taxes, Insurance and HOA dues are under $900 which is only $50 more a month than what she is currently paying in rent.
• She has an FHA loan that is fixed for 30 years at 5.5% and will never adjust.
• The Seller paid for all her closing costs and bought a 12 month home warranty on the home.
• She had to come up with $4,143 to close the transaction which she could have borrowed from a family member if she had to.
• Because she is a first time buyer she will receive $8,000 back as a tax credit so she has bought a home and will pocket $3,857 for doing so.
• She is a very happy and proud of her new home.

There are a lot of people out there right now who are thinking of buying a home but are nervous to do so with everything that they are reading and hearing about. If you can be bold enough to put those points of view to one side for a moment and take a look at the positive side to this equation then you may find that it's in your best interest to look into buying now while the opportunity is here. It's called a buyers market for a reason.

 For more information on buying your first home contact Phil Robinson on 602-743-2120.

1.  Don’t go on Blind Dates

Don’t be set up.  Assess in great detail what you are looking for in a home.  The more strict and structured you make your needs/wants list beforehand, the less likely you are to be blinded when you view a house.

You may get excited by the stainless steel appliances but don’t overlook the fact that one of your requirements was an large walk in closet.  That appliances are pretty, but it’s not going to give you enough space to store all your clothes.

Set strict priorities and you are far more likely to get a house that you can have a long-term relationship with.

2.  Don’t go Alone

Having a real estate professional on your side will help you during every stage of the home buying process.  From getting advance notice of newly listed properties, skilled negotiation, and help with paperwork, having someone on your side is extremely important.

3.  Buy a Lifestyle as well as a House

Owning a home is a major life adjustment.  Not only do you have to keep in consideration the layout of the house itself, but you will need to consider the surrounding areas as well.  Things such as the locations of schools, churches, doctors, parks and anything else you consider important to your lifestyle should be taken into account.

You will not spend every minute of your time in your home and therefore you need to look at the overall picture when purchasing a house.

4.  Your House Will Also Own You

Buy within your means.

When you get pre-approved for a mortgage, focus on seeing that number as a maximum. 

Getting pre-approved for an amount slightly higher than you were considering spending in the first place can be very tempting with the new options that a higher price range opens up. 

Buying even a little out of your means can make a big impact on your finances for years to come.  Particularly as a new homeowner, you may be surprised by the increase in utilities, and the burden of expenses like property taxes and maintenance.

Don’t over-extend yourself.

Remember:  “House-Broken” can happen to people, not just pets!

5.  Have Fun!

Despite the potential drawbacks, buying your first house is an exciting, enjoyable, life-changing event!

Owning your own home can have an overwhelmingly positive effect on your finances, your lifestyle, and your well-being.

Enjoy shopping for a home and making plans about redecorating, landscaping, and planning rooms.

You only get to buy your first house once, so don’t forget to enjoy the ride and don't forget the Tax Credit from Uncle Sam of up to $8000 for first time buyer during 2009.