Arizona HomebuilderA U G U S T | S E P T E M B E R 2 0 1 4

NEW HOME COMMUNITIES FLOURISH DEVELOPER SPOTLIGHTTHE CULTURE OF CARINGFINANCE CORNER Featured

Development

You’re an Arizona Builder, We’re an Arizona Lender.

“As an Arizona based lender we always welcome and

recognize the value of working with builders who are

building Arizona communities. Working with other local

companies helps Arizona to build stronger communities.”

-Bill Rogers, CEO of Homeowners Financial Group

EXPERIENCE THE HFG DIFFERENCE

with local and in-house Processing,

Underwriting & Funding. Call us

today to find out how we can help

you sell more homes and give your

clients better service!

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

BILL ROGERSFounder & CEO of Homeowners Financial Group

Why do so many builders name HFG their preferred lender?“Homeowners Financial Group has been a great resource for many of our buyers who were turned down by other lenders.”

Jason Pancamo, VP of Sales & Marketing D.R. Horton

“Our buyers are always impressed and satisfied with the professionalism and overall service received by Homeowners Financial Group.”

Mark & Julie Hancock, Founders Camelot Homes

SERVICE LEVEL COMMITMENTS• All Builder Files Receive Initial 30-Day Underwriting

• Extended Locks up to 12-Months

• Customized Marketing Support

PORTFOLIO SELECT PRODUCTS• Expanded FHA and Conventional

• Clean Slate Program

• Construction Financing

Corporate Office | 16427 N. Scottsdale Rd. Suite #145 | Scottsdale, AZ 85254 | www.homeownersfg.com | 480.305.8550

All loan products and loan amounts may not be available in your area and are subject to credit and property approval pursuant to guidelines. Information is subject to change without prior notice. Other restrictions and limitations may apply. Homeowners Financial Group USA, LLC is licensed in AZ: Mortgage Bankers License No. BK 0906222, NMLS#93718; CA: Department of Business Oversight under the Finance Lenders Law License No. 603 F033; ID: Mortgage Broker/Lender License MBL-5879; NM: New Mexico Mortgage Loan Company License 03068; ND Money Broker License MB102538; OR Mortgage Lending License ML-5229

WA: Consumer Loan Company License CL-93718; MN: Residential Mortgage Originator License MN-MO-93718; MT: Mortgage Broker/Lender License 93718; NE: Mortgage Banker License NE93718 and registered in CO: Mortgage Company Registration.

Portland on the Park

Care Fund, Character and Culture

Habitat Metro developer Tim Sprague, partner John Hill and CEO of Sunbelt Holdings, John Graham, acted on years of expertise. They’ve created nationally recognized and award winning development projects around their long term vision of accessibility of living, working and playing in an exciting downtown hub with light rail as the lifestyle conduit. They came to visit Phoenix, awaiting a light rail system to replicate their successful model. The minute it became a

Phoenix reality …carpe diem.

The firm approaches every development opportunity with a double bottom line perspective — measuring project success not solely by bottom line results, consistent with the highest fiduciary standards, but also in how the project builds social capital within adjacent neighborhoods and communities.

Portland Place Condominiums Phase I of 54 units was delivered in July 2007 to immediate praise by the community and industry peers. The project’s first phase was awarded the Arizona Real Estate Magazine RED Award for Best Multifamily Project in 2008, and the Pacific Coast Builder’s Conference 2008 Gold Nugget Award Best Mid Rise Attached Housing Project.

Today, they’re launching Phase II, a unique upscale condominium project called Portland on the Park, a 170-unit lifestyle-centric jewel to the growing Phoenix skyline and its light rail system. The massive project is to be housed in 3 structures — a 4 story, 12 and 14 story complex.

Located in the heart of the city at 108 West Portland Street at the corner of Central Avenue and Roosevelt, it has a highly rated “walk score” of 86, which is considered one of the best in Phoenix. Its premiere location with accessibility to light rail and walking, makes their long term vision part of the central corridor’s exponential and sought after growth.

“My partner and I built successful apartment projects in late 80’s including two in Portland, Oregon. We visited Portland after their light rail project was built to see incredible changes to the community. When it was finally announced for Phoenix, we located the right property, won an RFP for the property and built Phase I. Now that the market is supporting new thoughtful and sustainable projects, we entered Phase II, Portland on the Park,” says Tim Sprague, Developer.

Overlooking Hance Park and the Japanese Friendship Garden, views of the city lights add to the ambiance of living in the downtown landscape. Impeccable detail is designed with sustainable features, space efficiency and storage

compartments for all units, as well as bicycle parking. Finishes will be high end with upgraded features available. The 13th and 14th floors will be reserved as exclusive penthouse units with spectacular views. This higher end project is separated by type of its construction, post tension concrete over pedestal.

Construction starts first quarter, offering to the public early Fall 2014, with completion in 18 months. Sales are

represented by Urban Habitat, David Newcombe, Designated Broker. Newcombe shares a glimpse of the residential market.

“It’s close to a decade since anyone broke ground on a major condominium project in Downtown Phoenix,” he said. “There is clear demand to live in our new and thriving downtown — with very few exceptions all the buildings we have are now full. Urbanization is changing the way we live, work and think in a way that Arizona has never seen before.”

Pricing ranges low to mid $200’s up to $1million. Contact David Newcombe, Designated Broker, real estate specialist in urban residential development and sales in downtown Phoenix and Scottsdale at Habitat Urban LLC, or for information, please visit portlandparkcondos.com.

On a recent visit to several new home communities, it was evident from the parking lot full of cars, and listening to the folks walking through the models that there are real buyers out there seeking new homes. While some commented on features like appliances and countertops, others were placing furniture and measuring room sizes. Like with all major purchases, buying a new home requires research, guidance, patience and good communica-tion. The on-site agent employed by the builder is trained in all aspects and features of their community and product line and can help educate the buyer about the benefits of purchasing a new home versus a resale house.

So far in 2014 we have seen many new home communities open with exciting fresh products, floor plans and features. We are currently tracking more than 65 new home communities that are open for presales or have had model home grand openings so far this year. In total, there are over 350 new floor plans or variations of existing floor plans in these new communities for consumers to choose from. Builders have gone to great lengths to identify their consumer profile and develop plans and features that specifically meet that niche to which they are seeking to address. While location and proximity to transportation corridors are key ingredients to successful new home communities, affordability with the help of low interest rates and other incentives offered by the builder will also help to continue to drive new home sales.

The graphic below identifies the locations of new home communities across the metro Phoenix region that have opened in 2014. Upon closer examination of these locations, it is clear these are proximate to transportation corridors which will help drive new housing growth for developers, builders and consumers for decades to come.

The median price of a new home in the Northwest submarket in June was $271,589 compared to the Southwest submarket where the median price was $222,324. The Mesa Gilbert submarket saw the greatest number of closings in June where the median price of a new home was $334,985. The median price in Scottsdale was $505,460 while our North submarket median price calculation in June was $389,324. Tempe and Chandler had a median price of $430,845 and in Pinal County we calculated a median price of $219,616.

Consumers seeking new housing will find communities available in large master plans, above major shopping districts, as well as downtown Tempe and Phoenix spanning all sizes, price ranges and product types.

For additional insight and market data call Greg Burger at480-614-0211 or visit our website at www.RLBrownreports.com.

A New Home in Every Submarket

When you build a home, it is a place where the family will live, grow, thrive, visit, enjoy, relax, gather and share the rest of their lives.

Home ownership is so much a part of our nation’s culture. It contributes mightily to the future of our children and our children’s children as well. A memory to carry a lifetime. An experience worth remembering…

Sometime during the history of that home, there may be a family that experiences something unexpected

while living in that very home. A child might be hurt or injured, requiring extended attention and parental care — at a hospital, or care at home. It happens every day, in every neighborhood. Will the parents be able to keep their jobs and care for a child in a health crisis? Who will watch the other children, pay the bills, pay for medical or ongoing treatments?

The Care Fund is designed to step into these very situations to ensure the family can remain in their home while caring for their ill child. Many families may be at financial risk of losing their home.

When a family in need qualifies, the Care Fund will directly pay their mortgage or rent. This is so much a part of the “circle of life” of the home that you build, it will last for many decades.

For your subcontractors, employees, clients, and sales teams, this connection with the Care Fund will greatly contribute to the very real notion that you are helping families, real Arizona neighbors, and not just building a home or making an idle promise. The community outreach of caring will send a message of character about your company. And it is character, after all, that counts in the long run.

So we encourage you, your employees and vendors to adopt a noble cause like the Care Fund as a company preferred charity. It is all of us in the homeownership industry who are building family memories, one home at a time.

We all want to identify with doing something worthwhile, something good, and… for each other.

If you or your employees would like to talk about company culture or giving, please contact me atJohnFoltz@cox.net or visit www.TheCareFund.org.

TIM SPRAGUEDeveloper

Habitat Metro

JOHN FOLTZ MBAPrivate Client Advocate

Sunbelt Business AdvisorsCare Fund FoundationChairman of the Board

Don’t Be Angry About Lower FHA Loan Limits

CHRIS MOZILOVice President of QC & Compliance

Homeowners Financial Group

There has been a lot of complaining about FHA’s new loan limits since they were lowered in January. The concern is for homebuyers that are attempting to purchase homes priced above the new, lower limits. In Maricopa County, the maximum FHA loan decreased from $346,250 to $271,050, a 22% drop. This has impacted a lot of buyers that need FHA’s more flexible qualification guidelines. These buyers either need

to purchase a less expensive home or have a larger down payment.

Why would FHA make a change that hampers consumers’ ability to purchase homes in a housing market that is still struggling to recover? Well first, it’s important to keep in mind who FHA is designed to serve. Through the FHA mortgage insurance program, HUD focuses on making mortgages available on “affordable” homes. In fact, the term “affordable” is used twice in HUD’s mission statement. And secondly, FHA isn’t responsible for this change. The change occurred because the law passed by Congress in 2012 to extend the higher limits expired.

Let’s travel back to the early part of the century. Year after year, as housing prices rose, FHA would increase their maximum loan limits accordingly. That is, until housing prices peaked and then plummeted in 2007. Fortunately for those of us in the homeown-ership industry and to homebuyers, FHA (through Congressional authority) froze their limits at the peak levels and didn’t lower them to the levels that they should have been based on the actual lower median home prices. By FHA keeping the limits at the peak levels, the market was able to recover more quickly.

Yes, it’s a bummer that we no longer have the higher limits for FHA loans, but we still have low down payment conforming products available for homebuyers through Fannie Mae & Freddie Mac. And we still have access to their maximum conforming loan limit of $417,000 which was also established based on national median home prices at the peak of the housing market. Fortunately Fannie & Freddie have kept that limit despite lower home prices, and are not expected to make any changes in the near future.

We care for your home, while you care for your family

GREG BURGER RL Brown Reports

NEW HOME COMMUNITIES IN 2014AT RL BROWN REPORTS

SEPTEMBER 19, 2014 at THE MINTRegistration and Tickets at www.uniqueprofessional.net Benefitting: www.thecarefund.org

IT’S A DATE!Bachelor & Bachelorette Dream Date Charity Auction

Portland on the Park

Care Fund, Character and Culture

Habitat Metro developer Tim Sprague, partner John Hill and CEO of Sunbelt Holdings, John Graham, acted on years of expertise. They’ve created nationally recognized and award winning development projects around their long term vision of accessibility of living, working and playing in an exciting downtown hub with light rail as the lifestyle conduit. They came to visit Phoenix, awaiting a light rail system to replicate their successful model. The minute it became a

Phoenix reality …carpe diem.

The firm approaches every development opportunity with a double bottom line perspective — measuring project success not solely by bottom line results, consistent with the highest fiduciary standards, but also in how the project builds social capital within adjacent neighborhoods and communities.

Portland Place Condominiums Phase I of 54 units was delivered in July 2007 to immediate praise by the community and industry peers. The project’s first phase was awarded the Arizona Real Estate Magazine RED Award for Best Multifamily Project in 2008, and the Pacific Coast Builder’s Conference 2008 Gold Nugget Award Best Mid Rise Attached Housing Project.

Today, they’re launching Phase II, a unique upscale condominium project called Portland on the Park, a 170-unit lifestyle-centric jewel to the growing Phoenix skyline and its light rail system. The massive project is to be housed in 3 structures — a 4 story, 12 and 14 story complex.

Located in the heart of the city at 108 West Portland Street at the corner of Central Avenue and Roosevelt, it has a highly rated “walk score” of 86, which is considered one of the best in Phoenix. Its premiere location with accessibility to light rail and walking, makes their long term vision part of the central corridor’s exponential and sought after growth.

“My partner and I built successful apartment projects in late 80’s including two in Portland, Oregon. We visited Portland after their light rail project was built to see incredible changes to the community. When it was finally announced for Phoenix, we located the right property, won an RFP for the property and built Phase I. Now that the market is supporting new thoughtful and sustainable projects, we entered Phase II, Portland on the Park,” says Tim Sprague, Developer.

Overlooking Hance Park and the Japanese Friendship Garden, views of the city lights add to the ambiance of living in the downtown landscape. Impeccable detail is designed with sustainable features, space efficiency and storage

compartments for all units, as well as bicycle parking. Finishes will be high end with upgraded features available. The 13th and 14th floors will be reserved as exclusive penthouse units with spectacular views. This higher end project is separated by type of its construction, post tension concrete over pedestal.

Construction starts first quarter, offering to the public early Fall 2014, with completion in 18 months. Sales are

represented by Urban Habitat, David Newcombe, Designated Broker. Newcombe shares a glimpse of the residential market.

“It’s close to a decade since anyone broke ground on a major condominium project in Downtown Phoenix,” he said. “There is clear demand to live in our new and thriving downtown — with very few exceptions all the buildings we have are now full. Urbanization is changing the way we live, work and think in a way that Arizona has never seen before.”

Pricing ranges low to mid $200’s up to $1million. Contact David Newcombe, Designated Broker, real estate specialist in urban residential development and sales in downtown Phoenix and Scottsdale at Habitat Urban LLC, or for information, please visit portlandparkcondos.com.

On a recent visit to several new home communities, it was evident from the parking lot full of cars, and listening to the folks walking through the models that there are real buyers out there seeking new homes. While some commented on features like appliances and countertops, others were placing furniture and measuring room sizes. Like with all major purchases, buying a new home requires research, guidance, patience and good communica-tion. The on-site agent employed by the builder is trained in all aspects and features of their community and product line and can help educate the buyer about the benefits of purchasing a new home versus a resale house.

So far in 2014 we have seen many new home communities open with exciting fresh products, floor plans and features. We are currently tracking more than 65 new home communities that are open for presales or have had model home grand openings so far this year. In total, there are over 350 new floor plans or variations of existing floor plans in these new communities for consumers to choose from. Builders have gone to great lengths to identify their consumer profile and develop plans and features that specifically meet that niche to which they are seeking to address. While location and proximity to transportation corridors are key ingredients to successful new home communities, affordability with the help of low interest rates and other incentives offered by the builder will also help to continue to drive new home sales.

The graphic below identifies the locations of new home communities across the metro Phoenix region that have opened in 2014. Upon closer examination of these locations, it is clear these are proximate to transportation corridors which will help drive new housing growth for developers, builders and consumers for decades to come.

The median price of a new home in the Northwest submarket in June was $271,589 compared to the Southwest submarket where the median price was $222,324. The Mesa Gilbert submarket saw the greatest number of closings in June where the median price of a new home was $334,985. The median price in Scottsdale was $505,460 while our North submarket median price calculation in June was $389,324. Tempe and Chandler had a median price of $430,845 and in Pinal County we calculated a median price of $219,616.

Consumers seeking new housing will find communities available in large master plans, above major shopping districts, as well as downtown Tempe and Phoenix spanning all sizes, price ranges and product types.

For additional insight and market data call Greg Burger at480-614-0211 or visit our website at www.RLBrownreports.com.

A New Home in Every Submarket

When you build a home, it is a place where the family will live, grow, thrive, visit, enjoy, relax, gather and share the rest of their lives.

Home ownership is so much a part of our nation’s culture. It contributes mightily to the future of our children and our children’s children as well. A memory to carry a lifetime. An experience worth remembering…

Sometime during the history of that home, there may be a family that experiences something unexpected

while living in that very home. A child might be hurt or injured, requiring extended attention and parental care — at a hospital, or care at home. It happens every day, in every neighborhood. Will the parents be able to keep their jobs and care for a child in a health crisis? Who will watch the other children, pay the bills, pay for medical or ongoing treatments?

The Care Fund is designed to step into these very situations to ensure the family can remain in their home while caring for their ill child. Many families may be at financial risk of losing their home.

When a family in need qualifies, the Care Fund will directly pay their mortgage or rent. This is so much a part of the “circle of life” of the home that you build, it will last for many decades.

For your subcontractors, employees, clients, and sales teams, this connection with the Care Fund will greatly contribute to the very real notion that you are helping families, real Arizona neighbors, and not just building a home or making an idle promise. The community outreach of caring will send a message of character about your company. And it is character, after all, that counts in the long run.

So we encourage you, your employees and vendors to adopt a noble cause like the Care Fund as a company preferred charity. It is all of us in the homeownership industry who are building family memories, one home at a time.

We all want to identify with doing something worthwhile, something good, and… for each other.

If you or your employees would like to talk about company culture or giving, please contact me atJohnFoltz@cox.net or visit www.TheCareFund.org.

TIM SPRAGUEDeveloper

Habitat Metro

JOHN FOLTZ MBAPrivate Client Advocate

Sunbelt Business AdvisorsCare Fund FoundationChairman of the Board

Don’t Be Angry About Lower FHA Loan Limits

CHRIS MOZILOVice President of QC & Compliance

Homeowners Financial Group

There has been a lot of complaining about FHA’s new loan limits since they were lowered in January. The concern is for homebuyers that are attempting to purchase homes priced above the new, lower limits. In Maricopa County, the maximum FHA loan decreased from $346,250 to $271,050, a 22% drop. This has impacted a lot of buyers that need FHA’s more flexible qualification guidelines. These buyers either need

to purchase a less expensive home or have a larger down payment.

Why would FHA make a change that hampers consumers’ ability to purchase homes in a housing market that is still struggling to recover? Well first, it’s important to keep in mind who FHA is designed to serve. Through the FHA mortgage insurance program, HUD focuses on making mortgages available on “affordable” homes. In fact, the term “affordable” is used twice in HUD’s mission statement. And secondly, FHA isn’t responsible for this change. The change occurred because the law passed by Congress in 2012 to extend the higher limits expired.

Let’s travel back to the early part of the century. Year after year, as housing prices rose, FHA would increase their maximum loan limits accordingly. That is, until housing prices peaked and then plummeted in 2007. Fortunately for those of us in the homeown-ership industry and to homebuyers, FHA (through Congressional authority) froze their limits at the peak levels and didn’t lower them to the levels that they should have been based on the actual lower median home prices. By FHA keeping the limits at the peak levels, the market was able to recover more quickly.

Yes, it’s a bummer that we no longer have the higher limits for FHA loans, but we still have low down payment conforming products available for homebuyers through Fannie Mae & Freddie Mac. And we still have access to their maximum conforming loan limit of $417,000 which was also established based on national median home prices at the peak of the housing market. Fortunately Fannie & Freddie have kept that limit despite lower home prices, and are not expected to make any changes in the near future.

We care for your home, while you care for your family

GREG BURGER RL Brown Reports

NEW HOME COMMUNITIES IN 2014AT RL BROWN REPORTS

SEPTEMBER 19, 2014 at THE MINTRegistration and Tickets at www.uniqueprofessional.net Benefitting: www.thecarefund.org

IT’S A DATE!Bachelor & Bachelorette Dream Date Charity Auction

Arizona HomebuilderA U G U S T | S E P T E M B E R 2 0 1 4

NEW HOME COMMUNITIES FLOURISH DEVELOPER SPOTLIGHTTHE CULTURE OF CARINGFINANCE CORNER Featured

Development

You’re an Arizona Builder, We’re an Arizona Lender.

“As an Arizona based lender we always welcome and

recognize the value of working with builders who are

building Arizona communities. Working with other local

companies helps Arizona to build stronger communities.”

-Bill Rogers, CEO of Homeowners Financial Group

EXPERIENCE THE HFG DIFFERENCE

with local and in-house Processing,

Underwriting & Funding. Call us

today to find out how we can help

you sell more homes and give your

clients better service!

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

BILL ROGERSFounder & CEO of Homeowners Financial Group

Why do so many builders name HFG their preferred lender?“Homeowners Financial Group has been a great resource for many of our buyers who were turned down by other lenders.”

Jason Pancamo, VP of Sales & Marketing D.R. Horton

“Our buyers are always impressed and satisfied with the professionalism and overall service received by Homeowners Financial Group.”

Mark & Julie Hancock, Founders Camelot Homes

SERVICE LEVEL COMMITMENTS• All Builder Files Receive Initial 30-Day Underwriting

• Extended Locks up to 12-Months

• Customized Marketing Support

PORTFOLIO SELECT PRODUCTS• Expanded FHA and Conventional

• Clean Slate Program

• Construction Financing

Corporate Office | 16427 N. Scottsdale Rd. Suite #145 | Scottsdale, AZ 85254 | www.homeownersfg.com | 480.305.8550

All loan products and loan amounts may not be available in your area and are subject to credit and property approval pursuant to guidelines. Information is subject to change without prior notice. Other restrictions and limitations may apply. Homeowners Financial Group USA, LLC is licensed in AZ: Mortgage Bankers License No. BK 0906222, NMLS#93718; CA: Department of Business Oversight under the Finance Lenders Law License No. 603 F033; ID: Mortgage Broker/Lender License MBL-5879; NM: New Mexico Mortgage Loan Company License 03068; ND Money Broker License MB102538; OR Mortgage Lending License ML-5229

WA: Consumer Loan Company License CL-93718; MN: Residential Mortgage Originator License MN-MO-93718; MT: Mortgage Broker/Lender License 93718; NE: Mortgage Banker License NE93718 and registered in CO: Mortgage Company Registration.