Feds Likely to Cut Interest Rates on Dec. 11

Hope grows for a half-point cut from Federal Reserve

Recent comments by Fed Chairman Ben Bernanke and vice chair Donald Kohn indicate a rate cut is likely on Dec. 11. The only question is how big?

A quarter of a point cut or a half of a point cut? That is the big question for investors to grapple with between now and the Federal Reserve's next policy meeting on Dec. 11.

Wall Street has heard signals loud and clear that a cut is coming. First, Fed Vice Chairman Donald Kohn said on Wednesday that the central bank needed to be "nimble," and then on Thursday night Fed chair Ben Bernanke, speaking before a business group in Charlotte, N.C., indicated that the Fed will stay "alert" and "flexible."

"Bernanke gave the markets an early Christmas gift last night in Charlotte. If there were any doubts about a rate cut, they are now gone. He wrapped it up, stamped it and sent it in the mail," said John Norris, managing director of Oakworth Capital, a private bank based in Birmingham, Ala.

According to futures listed on the Chicago Board of Trade, investors are placing a 100 percent bet that the Fed will lower the key federal funds rate by at least a quarter of a percentage point to 4.25 percent. What's more, traders are factoring in a 34 percent probability of a half-point cut to 4 percent.
By Paul R. La Monica, CNNMoney.com editor at large

If you would like to take advantage of the excellent news of lower interest rates, please call RE/MAX Desert Showcase in the Peoria, Glendale, Avondale, Litchfield, Surprise area in AZ at 623-979-8888. This is a fantastic market for buyers and investors!

Elf Yourself. Turn Yourself Into An Elf

Elf Yourself. Turn Yourself Into An Elf

You may never have felt the impulse to "turn yourself into an elf," but once you see this Yuletide e-card from OfficeMax the urge could wash over you. We usually hang back from highlighting promotional sites (unless they involve Bob Dylan) but ElfYourself is just too funny to ignore.

Begin the "elfamorphosis" by uploading one or more JPEG images of you and your loved ones to the site. Follow the few simple steps. Once your smiling mugs are firmly in place on top of the dancing, velvet-clad bodies of Santa's little helpers, blast the ebullient greetings off to everyone you know. There's something about placing your friend's, family's, kid's, or partner's frozen smile on top of the freewheeling impish forms that will crack you up every time. At least, it did for us. Elfin hilarity is guaranteed.

Don't forget! If you don't have enough space for all your little elfs, call RE/MAX Desert Showcase at 623-979-8888 for a larger igloo today!

U.S. bill offers homeowners financial hope against mold

U.S. bill offers homeowners financial hope against mold

We suggest you also read Inspections, Realtors Can Help Prevent Mold Suits

A bad mold infestation can cost tens to hundreds of thousands of dollars to fix and can turn a home into a den of wheezing, coughing or worse.

However, homeowners insurance companies in Arizona exclude mold from coverage. As a result, some Valley homeowners say they have had to abandon houses and belongings they believe were making their families sick.

Some of those families are hopeful a bill to be introduced in Congress early next year could help others in similar situations.

Sponsored by Rep. John Conyers, D-Mich., the "Melina Bill" would create a national insurance program to protect homeowners against major losses as a result of mold. The program would be similar to the national flood-insurance program already in place. It also would mandate mold inspections in public housing and certification for mold inspectors.

Mold experts say it could help protect Americans from a threat to their health and homes.

"The individual homeowners in the United States are facing terrible risks in their financial situations because of the lack of being able to get mold insurance," said Chester Leathers, an environmental consultant and professor emeritus of microbiology at Arizona State University.

Excluded in policies
Arizona is among 39 states that allow insurers to exclude mold from homeowners policies. Policies vary in the remaining states.

Payments from a covered incident such as a burst pipe may be used to treat mold. But generally, mold is considered "a maintenance issue, and therefore that's not the responsibility of the insurance companies to handle that particular event," said Ron Williams, executive director of the Arizona Insurance Information Association.

Conyers first introduced the U.S. Toxic Mold Safety and Protection Act in 2005 after a staff member's daughter suffered serious lung damage as a result of indoor mold. The bill failed, but Conyers will reintroduce it in January with modifications, his communications director, Karen Morgan, wrote in an e-mail.

It's unclear exactly what the new version will look like.

Mold tied to ailments
Up to 20 percent of the population is allergic to one or more molds, Leathers said. Studies have found extensive evidence linking mold exposure to breathing problems, congestion, irritated eyes and skin irritation.

Arizona's dry climate is no safeguard. Plumbing problems, leaky roofs and humidifiers all can cause indoor mold growth.

Some Valley residents believe mold made them seriously ill.

Luz Fuenzalida's puppy chewed through a pipe in her Phoenix home in November 2001. The next day, she said, she and her two sons, ages 11 and 13, began suffering headaches and nausea. An environmental consultant later found mold as a result of the leak.

The family moved out two weeks later. In 2003, a pediatrician wrote Fuenzalida, saying both boys tested positive for high levels of Aspergillus flavus, a type of mold that can colonize in the lungs. It also produces aflatoxin, a carcinogenic toxin. Lab results from 2004 showed Fuenzalida also had abnormally high levels of aflatoxins in her body.

Fuenzalida's home still sits empty. Once she made a link between her family's health and mold, she never went back. Her insurance company will not cover her losses, she said, and she could lose the house.

"I never in my life thought (mold) could do what it has done," she said.

Scientists, however, say they can't prove a link between mold exposure and serious health problems. The U.S. Centers for Disease Control and Prevention says that although indoor mold is a health concern, there is no solid evidence that it causes symptoms such as lethargy and memory problems.

As it is now, there are few options for Valley residents with mold problems they can't afford to fix.

Mary Buchberger, 59, abandoned her possessions and sold her mold-infested Phoenix home after she and her adult son became sick.

In January 2006, Don Herrington, epidemiology bureau chief at the state Department of Health Services, responded to her written complaint with a letter saying that, although he was sorry for the family's struggles, there was nothing the agency could do.

"In Arizona, there are no regulations pertaining to mold, hence, the government agencies within Arizona have no authority to intervene in mold issues," he wrote. "It seems that the most likely way to pursue your desire to help yourselves and others who are faced with a similar concern is through the legislative approach."
Source: Corinne Purtill AZ Republic

Phoenix RE/MAX Desert Showcase Realtors

Phoenix AZ December 2007 Events & Festivals

Metro Phoenix December 2007 Festivals and Events.
Things to do in the Phoenix Area and Around The State in December 2007

Tempe Festival of the Arts
This year is brings 434 juried artists in 13 categories, including wearable art, ceramics and cottage edibles. Tempe, 11/30 - 12/02

Oak Tree Elementary School Craft Fair: 7-9 p.m. Nov. 30, 10 a.m.-3 p.m. Dec. 1. Twenty vendors, pictures with Santa, holiday crafts for kids, silent auction and raffles. Oak Tree Elementary School, 505 W. Houston Ave., Gilbert. FREE. 480-632-4785, ext. 669. gilbert.k12.az.us.

Poinsettia Festival: 10 a.m.-5 p.m. Fridays, Saturdays and Sundays, through Dec. 9. Greenhouse tour. Portion of sales benefit the Salvation Army. Gardener's World 3401 E. Baseline Road, Phoenix. FREE. 602-437-0700. gardenpro.net.

Poinsettia and Christmas Tree Festival: 9 a.m.-5 p.m. Nov. 30 and Dec. 1, 10 a.m.-4 p.m. Dec. 2. Poinsettias on display and two outdoor tents of trees. Artists display artwork, kachinas and cold-steel creations. Cactus Gardens Nursery, 25601 N. Scottsdale Road, Scottsdale. Free. 480-585-0754

Armenian Festival: 11 a.m.-11 p.m. Dec. 1. Food and kids' games. Armenian Apostolic Church 8849 E. Cholla St., Scottsdale. $1; free for kids 4 and younger. 480-451-8171. armenianchurchaz.org.

Christmas Bazaar: 9 a.m.-5 p.m. Dec. 2. 60 vendors, Santa, choir concerts, a DJ, bouncers, a rock wall and auctions. St. Thomas Aquinas Catholic Community, 13720 W. Thomas Road, Avondale. FREE. 623-935-2151. stacc.net.

Winter Holiday Marketplace: 10 a.m.-6 p.m. Dec. 2. Sixty vendors, Santa. Mesa Convention Center, 263 N. Center St. FREE. 480-862-4907. mamasmm.com/events.html.

Advent Festival: 5-7 p.m. Dec. 2. Dinner, make-and-take crafts, Bible readings and carols. Reservations required. North Scottsdale United Methodist Church, 11735 N. Scottsdale Road. FREE. 480-948-0529. nsumc.com.

Big Love for Citrus Music Festival: 11 a.m.-7 p.m. Sunday. Major Lingo, Walt Richardson, the Noodles, Joe and Matt Myers, and Kindread. Family activities, storytelling and face painting. Kiwanis Park, 5500 S. Mill Ave., Tempe. FREE. 480-350-5201. tempe.gov/parks.

Holiday Sale and Student Art Show: 11 a.m.-8 p.m. Dec. 7, 10 a.m.-2 p.m. Dec. 8. Ceramics, jewelry, glass art, prints, drawings and photography. Phoenix Center for the Arts Visual Arts Gallery, 214 E. Moreland Ave. FREE. 602-262-4627. phoenix.gov/parks/phxctr.html.

Old Town Holiday Festival: 5 p.m.-9 p.m. Dec. 7. Entertainment, Santa, hayrides, cookie decorating, story time, choral contest, snow area and vendors. Johnny Osuna Memorial Park, 10510 N. 83rd Ave., Peoria. FREE. 623-773-7198. peoriaaz.com/parks.

Holiday Fair: 8 a.m.-1 p.m., Dec. 8. Arts and crafts, white elephant items, bake sale and raffle. St. Peter Lutheran Church, 1844 E. Dana Ave., Mesa. FREE. 480-833-4251. stpetermesa.com.

Tamale Festival: 10 a.m.-6:30 p.m. Dec. 8-9. Tamales, live entertainment, Latin arts and crafts for sale. Judging takes place 2 p.m. Dec 9. Cesar Chavez Plaza, First Avenue and Washington Street, Phoenix. FREE.

Christmas Mariachi Festival: 7 p.m., Dec. 15. US Airways Center, 201 E. Jefferson St., Phoenix. $41.25-$76.25. 480-784-4444. ticketmaster.com.

Christmas at the Village: 5-7 p.m. Dec. 14. Treat stations, Santa photos, arts and crafts. Pointe Hilton Tapatio Cliffs Resort, 11111 N. Seventh St., Phoenix. $5 or two canned-food items per person. 602-866-7500. pointehilton.com.

Holiday Family Expo: 9 a.m.-7 p.m. Dec. 15, 9 a.m.-6 p.m. Dec. 16. 300 exhibitors, Santa, carnival, entertainment, food. University of Phoenix Stadium, Glendale. $8; $5 for ages 2-12; free for children younger than 2. 480-855-1955. universityofphoenixstadium.com.

Around The State

Christmas Crafts Festival: 10 a.m.-4 p.m. Friday, 10 a.m.-5 p.m. Saturday, 10 a.m.-3 p.m. Sunday. Entertainment, gift shopping. Yuma Crossing Heritage Area. 180 W. First St. FREE. 928-782-5712. yumaheritage.com.

All Souls Film Festival: 6:30 p.m. Dec. 6. Short documentaries, narratives and experimental films that explore death through cinema. Loft Cinema, 3233 E. Speedway Blvd., Tucson. $5. 520-795-7777 or 520-322-5638. loftcinema.org.

Tlaquepaque Festival of Lights: 3 p.m.-8 p.m. Dec. 8. 6,000 luminarias, shopping, music, carolers and Santa. Tlaquepaque Arts & Crafts Village, 336 Arizona 179, Sedona. FREE. 928-282-4838. tlaq.com.

Bell Rock Plaza Art and Craft Show: 10 a.m.-5 p.m. Dec. 15-16. Paintings, fountains, carvings, jewelry and leather, wood and metal works. Bell Rock Plaza, 10 Bell Rock Plaza, Sedona. FREE. 928-284-9627.

Source: AZ Republic

When considering a new home, relocation, or real estate needs, call upon the metro Phoenix AZ real Estate Professionals at RE/MAX Desert Showcase servicing: Phoenix, Scottsdale, Paradise Valley, Cave Creek, Carefree, Sun City, Peoria, Glendale, Surprise, Buckeye, Avondale, Tempe, Chandler, Mesa, West Valley and Wickenburg Arizona.

Home Buyer's Holiday Wish List Can Come True in Phoenix, AZ

Home Buyer's Holiday Wish List Can Come True in Phoenix, AZ

This year is an excellent time to buy a home in the Phoenix Metro area.

1.) It’s a buyers market-especially in Arizona.
2.) There are plenty of good values to be found, especially in the outlying areas of Avondale, Buckeye, Laveen, Surprise, Anthem & Wickenburg.
3.) Credit challenged buyers can still obtain 100% financing and no out of pocket closing costs
4.) The fixed 30 year interest rates are 5.875% a two year low
5.) Mortgage insurance is now “tax deductible” (Always inquire with your tax professional)
6.) Down payment assistance programs are still available until March 2008
7.) FHA government loans have loosened their underwriting requirements making home purchases more obtainable.
8.) Interest rates may drop another .25% before the end of the year
9.) New IRS Pub 17 now allows buyers on the day of closing to start claiming tax deductions & closing costs even if the seller paid them (again-see tax professional)

Source: Janet Livingston, Re/Max Champions

What an opportunity for these buyers get a Holiday Deal!! If you considering buying, selling or investing in Peoria, Glendale, Phoenix & other metro areas in Arizona, please contact RE/MAX Desert Showcase at 623-979-8888!

Make it a great day!

New Home Builders are going “Green” in the Phoenix, Glendale, Peoria & other AZ Areas

New Home Builders are going “Green” in the Phoenix, Glendale, Peoria and other AZ Areas

APS Performance Built Homes®
Ashton Woods Homes, Shea Homes, & Columbia Communities qualify for the APS Performance Built Homes Program in AZ.

Arizona Public Service (APS) has established a regional energy efficient program that works with builders, sales agents and consumers to encourage the construction and purchase of energy efficient homes. The cost to heat and cool an APS Performance Built home is guaranteed by the builder or a third party or company such as Environments for Living® not to exceed a guaranteed annual amount. If the heating and cooling costs do go over the guaranteed amount, the guarantor will refund 100% of the exceeded costs. Properly installed insulation, low-e windows, and more efficient mechanical systems are characteristics of an APS Performance Built Homes®. Additionally, APS sponsors training programs for builders and sales agents. A new home buyer who buys an APS Performance Built Homes® may qualify for energy efficiency financing. Homes are randomly inspected to ensure they meet the high energy efficiency standards of the APS Performance Built program.

Energy Star for Homes Program™ Elite Communities, Beazer Homes, Centex Homes, Pulte Homes, Hacienda Builder, D. R. Horton, Trend Homes, Weinstein Communities, Classic Communities, KB Home, Keystone Homes, Concordia Homes in the outlying areas of Phoenix & Maricopa County, AZ.

Energy Star® is an Environmental Protection Agency (EPA) program developed to help businesses and individuals protect the environment through superior energy efficiency. Energy Star® homes must be at least 30% more energy efficient than homes built to the 1993 national Model Energy Code or 15% more efficient than state energy code, whichever is more rigorous. The EPA Energy Star for Homes Program™ is part of a family of Energy Star® programs designed to prevent pollution while saving consumers money and offering businesses a significant competitive advantage. For new home buyers, the most significant advantage is reduced heating and cooling costs. Additionally, the purchase of a home that carries the Energy Star® label may mean the buyer will qualify for energy efficient financing options.

Energy Star® Certified Homes must pass four tests for energy efficiency. In some case all of the homes are tested, and in other situations a predefined percentage of each plan built is physically tested. The first is a design test to determine the energy efficiency of the planned design of the house. The other three are physical tests to determine if the house, as it is built, meets the design specifications that relate to energy efficiency. The first of these three phase tests is called the Duct Blaster Test. Once the heating and Air Conditioning (HVAC) duct work has been installed, it is pressurized and checked for leaks by a third party verification service. The second test is to verify that the wall insulation is installed in a manner to ensure its planned performance. The final test is a House Envelope Test which measures the air leakage of the completed house.

All of these tests are performed by an independent third party tester who is certified by the EPA. For the Energy Star® logo to be displayed on builder advertising, the home with which it is associated must meet all Energy Star® certification requirements. Because of the requirements, you can be assured that an Energy Star® certified house will be an energy-efficient home.

Another segment of the Energy Star® family is Building America which teams up the knowledge and expertise of architects, engineers, builders, equipment manufacturers, materials suppliers, community planners, mortgage lenders and contractor trades and conducts systems engineering research that leads to the construction of more energy efficient homes. Sponsored by the U.S. Department of Energy, Building America is a private/public partnership that conducts research to find energy-efficient solutions for new and existing housing which can be implemented on a production basis. Homes are produced on a community scale that reduce energy usage by 40% to 70%, while improving builder productivity and reducing construction time and waste. Building America has established a certification for building green homes.

Environments for Living®
Builders that participate include Beazer Homes, Pulte Homes, Del Web Corporation, Talas Homes, Ashton Woods Homes, Homes by Towne, Shea Homes in Arizona.

An Environments for Living® home has an even more comprehensive approach to energy efficiency than does Energy Star™. All Environments for Living® homes must meet the Energy Star for Homes™ standards. Participating builders in the Environments for Living® program are given additional assistance in acquiring Energy Star® qualification and labeling. From design to construction and all the way through a third party inspection, these homes must meet specific construction standards for durability and safety. As with many of the other programs, new home buyers may be able to qualify for Energy Efficiency Mortgages that are offered by many lenders and include advantages to buyers such as lower interest rates, higher qualifying ratios and cash back at closing.

Scottsdale, AZ Green Building Program
Builders that participate in the Scottsdale Green Building Program are Starpointe Properties, Monterey Homes & Camelot Homes.
This program is a whole-systems program from design through final certification inspection that goes beyond the mechanical systems standards of the other programs. The program incorporates site use, regionally-derived building products, recycled content of building materials, water and waste systems. Builders who participate in the Scottsdale Green Building Program are provided educational opportunities and at least two tiers of certification. The advantages to home buyers are similar to the other programs: reduced energy usage, attractive financing options and a more comfortable living environment.

SRP-Certified Homes
SRP-Certified Homes in the Phoenix, Glendale, Peoria & outlying areas are Beazer Homes, Classic Communities, K Hovnanian Homes, Magee Homes, New Sun Homes, Courtland Homes, Woodside Homes of AZ, Randall Martin Home, Farnsworth Development, Earlie Homes, Allegiance Homes, Orleans Homes, Blandford Homes.

SRP offers an energy efficient home program called SRP-Certified Homes. The program focuses on lowering homeowner energy bills through the use of home construction materials and appliances that reduce energy consumption on a kilowatt-hour per square foot basis. Builders have the flexibility to substitute one energy-efficient feature for another if the overall design complies with the SRP-Certified Home requirements. Prospective buyers can review estimated energy costs prepared by SRP for the specific floor plan they choose before buying the house. These estimates are very useful to home buyers since the figures are based on current SRP price plans and local weather and groundwater temperature data, as opposed to national averages.

If you are considering purchasing a new home or would like more information, please contact RE/MAX Desert Showcase at 623-979-8888. Don’t go unrepresented for the single purchase you will make in your life—the builder pays the commission and it will NOT impact your sales price.