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Residential Focus May 2010 Issue:
              The Newsletter for knowledge on the Greater Phoenix Residential Market

 Did the First-Time Homebuyer’s Tax Credit Increase Sales




                                                       By
                                                 Fletcher Wilcox
                                       V.P. Grand Canyon Title Agency, Inc.
                                       FWilcox@GCTA.com 602-648-1230




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.   1
Fwilcox@GCTA.Com 602-648-1230
Did the First-Time Homebuyer’s Tax Credit Increase Sales? Yes, it did. The numbers write this story.
In April 2010, 10,558 homes went Under Contract compared to 6,691 in May 2010 for a drop of 37%. See Table 1.
The average number of homes going Under Contract per day was 353 in April compared to 215 this May. In the last
three days of April, 1,645 homes went under contract compared to 202 in May. Part of the 37% decrease in properties
going Under Contract may have been seasonal. In May 2009, the percent Under Contract dropped 16% in May from
April.

May residential sales again were over 9,000 for the second month in a row. A confluence of events elevated sales in
May: the first-time homebuyers tax credit, affordable home prices, low interest rates, investors, FHA financing and the
HUD relaxation of the 90 day no flip waiver effective February 1, 2010. Before the no flip waiver, an investor on a
fix and flip had to own the home for 90 days before they could go under contract and sell the property to a buyer
purchasing with FHA financing.
                                                           Table 1
                                       Number of Residential Properties Under Contract
                                                     Last Twelve Months
                                          All Eight ARMLS Residential Categories
Under Contract           2009                                                                             2010
                         June        July       Aug         Sep        Oct         Nov        Dec         Jan     Feb     March    April    May
Total for month          8,999       8,346      8,362       8,098      7,766       6,285      6,198       7,538   8,443   10,095   10,558   6,691
                                                                                                                                            -37%
Last three days of       808         950        586         993        662         401        631         616     667     1,155    1,625    211
month
Last day of              371         320        362         352        90          283        236         110     152     384      672      85
month
Average per day          300         269        270         270        250         209        200         243     302     326      352      216




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                    2
Fwilcox@GCTA.Com 602-648-1230
Table 2
                                                          Comparison
                                                         Under Contract
                                           April 2010 to May 2010 by List Price Range
                                            All Eight ARMLS Residential Categories
                                                             April 2010                 May 2010                Percentage
                            List Price Range               Under Contract             Under Contract             Change

                       Under $50,000                               910                        730                 -20%
                       50,000 to 99,999                           2,695                      1,749                -35%
                       100,000 to 149,999                         2,736                      1,569                -43%
                       150,000 to 199,999                         1,618                       859                 -47%
                       200,000 to 249,999                          884                        517                 -42%
                       250,000 to 299,999                          523                        368                 -30%
                       300,000 to 349,999                          308                        229                 -26%
                       350,000 to 399,999                          248                        170                 -31%
                       400,000 to 499,999                          230                        192                 -17%
                       500,000 to 599,999                          133                         95                 -29%
                       600,000 to 699,999                           84                         50                 -40%
                       700,000 to 799,999                           52                         32                 -38%
                       800,000 to 899,999                           28                         30                   7%
                       900,000 to 999,999                           30                         18                 -40%
                       1,000,000 to 1,499,999                       47                         47                   0%
                       1,500,000 to 1,999,999                        8                          9                  13%
                       2,000,000 to 2,999,999                       17                         17                   0%
                       Over 3,000,000                                7                         10                  43%
                                TOTAL                            10,558                      6,691                 37%

The list price range with the highest percentage decrease going Under Contract in May was $150,000 to 199,999
at 47%. While most list price ranges had percentage decreases this was not so for list prices over $1,000,000.
The number of properties going Under Contract with a list price of $1,000,000 or more stayed the same or
increased.


Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                3
Fwilcox@GCTA.Com 602-648-1230
Short Sale Update

Short sale closings over 1,900 for second consecutive month.

The Treasury’s HAFA program (Home Affordable Foreclosure Alternatives) went into effect April 5, 2010. The
Treasury’s program excluded loans held by Freddie Mac and Fannie Mae. This in effect excluded many home loans
from participating in the Treasury’s HAFA Program. On Tuesday, June 1, 2010 Fannie Mae announced their HAFA
Program. Below is the Fannie Mae’s announcement along with links for more information on their short sale
program.

Announcement: Fannie Mae Introduces HAFA Program

On Tuesday, June 1, Fannie Mae issued Servicing Guide Announcement SVC-2010-07, introducing Fannie Mae's Home Affordable Foreclosure
Alternatives (HAFA) Program. It, like Treasury's Home Affordable Foreclosure Alternatives Program (as described in Supplemental Directive 09-09
Revised), is designed to mitigate the impact of foreclosures on borrowers who are eligible for a loan modification under the Home Affordable
Modification Program (HAMP) but ultimately are unsuccessful in obtaining one.

Program Features
The Fannie Mae Home Affordable Foreclosure Alternatives Program, which becomes effective August 1, 2010, simplifies and streamlines the use of
short or "preforeclosure" sale and deed-in-lieu of foreclosure (DIL) options on HAMP-eligible loans by incorporating the following unique features:

     •   Complements HAMP by providing alternatives for borrowers who are HAMP eligible (including borrowers facing imminent default);
     •   Allows the borrower to receive pre-approved short sale terms prior to the property listing;
     •   Prohibits the servicer from requiring, as a condition of approving the short sale, a reduction in the real estate commission agreed upon in the
         listing agreement;
     •   Releases the successful HAFA borrower from future liability for the debt;
     •   Uses standard processes, documents, and timeframes;
     •   Provides financial incentives to borrowers, servicers and subordinate lien holders; and
     •   Utilizes verified borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility
         analysis.

For More Information
For complete program information, read the Announcement. Other related materials are available on the new HAFA page on eFannieMae.com.




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                                4
Fwilcox@GCTA.Com 602-648-1230
Chart 1

                                              Number of Residential Sales for Greater Phoenix
                                              All Eight ARMLS Residential Categories Included

          12,000 10,252
                                                     9,284 9,350 9,096                                           8,991 9,298 9,105
          10,000                               8,552                   8,038 7,915 8,143 7,440 7,555
                                         7,628
           8,000                                                                                           6,539
                                                                                                     5,729
           6,000             4,742 5,474
           4,000       2,912
           2,000
               0


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Historical Perspective

Most ARMLS residential sales in a month were 10,252 of June 2005, with a median sales price of $250,000.

Least ARMLS residential sales in a month were 2,912 of January 2008, with a median sales price of $220,000.

                         May 2010 residential sales were 9,105 with a median sales price of $130,000.




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                   5
Fwilcox@GCTA.Com 602-648-1230
Chart 2
                      May 2010 Median Home Sales Price Up $3,000 from April 2010
                                        Median Home Sales Price for Greater Phoenix
                                            All Eight ARMLS Cateogies Included
                                                   (number in thousands)

   250 220 214 210 210 205 199
                               190 185
   200                                 170 164
                                               150 143
   150                                                 130 125 120 116 120 125 125 126 130 128 130 127 125 125 128 127 130
   100
    50
     0
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                                       Median Home Sales Price Percentage Difference

                                              -51% June 2006 compared to April 2010
                                              +14% April 2009 compared to May 2010
                                               +2% April 2010 compared to May 2010
                                               +8% May 2009 compared to May 2010

                                       Highest Median Home Sales Price This Century
                                                    June 2006 $265,000
                                      Lowest Median Home Sales Price in Last Ten Years
                                                    April 2009 $116,000


Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                            6
Fwilcox@GCTA.Com 602-648-1230
Table 3
                                                  May 2010
                           What Residential Property Types Are Buyers Buying?
                        Residential Sales by All Eight ARMLS Residential Categories

         Category                 Total Sales        Short Sales         Lender Owned                     Other                 Totals
                                  No.     %          No.      %           No.     %                     No.     %     (total may be 99%-101%
                                                                                                                           due to rounding)
 Single Family Detached         7,716       85% 1,650          21%         2,891      37%              3,175    41%              99%

        Townhouse                 576        6%       114       20%         236       41%                226    39%           100%

  Apartment Style/Flat            485        5%      98       20%           218       45%                169    35%           100%

  Manufactured/Mobile             146        2%       11         8%         63        43%                 72    49%           100%
          Housing

            Patio                 125        1%     18         14%          25        20%                 82    66%           100%

   Gemini/Twin Home               43          *      7          16%         6        14%                  30    70%           100%

            Loft                    10         *     2          20%          1        10%                  7    70%           100%

    Modular / Pre-Fab               4         *               25%            1        25%                  2    50%           100%

           Totals               9,105 100%           1,901 21%            3,441      38%                3,763   41%           100%


* Less than one percent




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                             7
Fwilcox@GCTA.Com 602-648-1230
Table 4

                                                Number of Lender-Owned Sales and Short Sales
                                               All Eight ARMLS Residential Categories Included
                     2008                             2009                                                                                  2010
Number of Sales      Sep     Oct     Nov     Dec      Jan. Feb.     March April May June        July     Aug.      Sep. Oct. Nov. Dec.       Jan.    Feb.   March   April   May
Lender Owned Sales   2,363   2,248   1,989   2,925    3,077 3,566    5,053 5,564 5,835 5,351   4,847    4,067    3,792 3,617 3,048 3,306    2,498   2,702   3,598   3,536   3,441
Short Sales            74     143     340     442     419 471        701   783 979 1,152        1,351    1,444    1,454 1,557 1,399 1,611   1,204   1,380   1,754   1,921   1,901
*Other               3,630   2,941   1,986   2,085   1,246 1,439    1,874 2,205 2,470 2,847    2,898    2,527    2,669 2,969 2,993 2,638    2,027   2,457   3,639   3,841   3,763
 Total               6,067   5,332   4,315   5,452   4,742 5,476    7,628 8,552 9,284 9,350    9,096    8,038    7,915 8,143 7,440 7,555    5,729   6,539   8,991   9,298   9,105



                                                                                   Table 5

                                                     Percentage of Lender-Owned Sales and Short Sales
                                                     All Eight ARMLS Residential Categories Included

     Percentage of Sales Jan. Feb. March April May June July Aug.                                       Sep. Oct. Nov. Dec. Jan. Feb March April May

     Lender Owned Sales 65% 65% 66% 65% 63% 57% 53%                                       51%       48%       44%       41%    44%    44% 41% 40%               38% 38%
     Short Sales         9% 9% 9% 9% 11% 12% 15%                                          18%       18%       19%       19%    21%    21% 22% 20%               21% 21%
     *Other             26% 26% 25% 26% 27% 30% 32%                                       31%       34%       37%       40%    35%    35% 37% 41%               41% 41%
                       100% 100% 100% 100% 101% 99% 100%                                 100%      100%      100%      100%   100%    100% 100% 101%            100% 100%

     Total Distressed Sales 74% 74% 75% 74%                         74%    69% 68% 69%              66% 63%             60% 66% 64% 63% 60% 59% 59%

     *Other is categorized as neither a lender owned sale or short sale




     Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                                              8
     Fwilcox@GCTA.Com 602-648-1230
Table 6

                                          Buy and Hold?
                       What Residential Property Types Are Renter’s Renting?
                                      Category                  Inventory           May Signed Estimated Months
                                                                  June 7             Leases        of Supply
                                                                    No.                No.
                                  Single Family                    3,240              1,741            1.9
                                    Detached

                             Apartment Style/Flat                   1,411                255                    5.5

                                    Townhouse                        980                 256                    3.8

                                        Patio                         240                 61                    4.0

                                        Totals                      5,871               2,313                   2.5




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.         9
Fwilcox@GCTA.Com 602-648-1230
The Single Family Detached Sales Report Only

                            No Other Residential Categories Included




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.   10
Fwilcox@GCTA.Com 602-648-1230
Table 7
                                      May 2010 Greater Phoenix Single Family Detached Sales
                                        No Other ARMLS Residential Categories Included
                                  (Some percentages may add up to 99% or 101% due to rounding)
                                         Active     Estimated                                    Lender-            Lender-
 Residential Sold Price                 Listings    Months of        Short         Short       Owned Sales        Owned Sales   Other    Other
       Range                   Sales     June 7      Supply       Sales (No.)    Sales (%)        (No.)               ( %)      (No.)     (%)     Total

Under $50,000                    402          824      2.0            66            16%             287              71%            49      12%    100%
50,000 to 99,999               1,799        4,421      2.5            471           26%             846              47%           482      27%    100%
100,000 to 149,999             2,134        5,465      2.6            417           20%             863              40%           854      40%     99%
150,000 to 199,999             1,276        3,929      3.1            259           20%             447              35%           570      45%    101%
200,000 to 249,999               705        2,288      3.2            139           20%             203              29%           363      51%    100%
250,000 to 299,999               429        1,790      4.2            99            23%             92               21%           238      55%    101%
300,000 to 349,999               260        1,101      4.2            47            18%             38               15%           175      67%    100%
350,000 to 399,999               201        1,076      5.4            46            23%             38               19%           117      58%    100%
400,000 to 499,999               197        1,151      5.8            45            23%             31               16%           121      61%    100%
500,000 to 599,999               102          755      7.4            22            22%             15               15%            65      64%    100%
600,000 to 699,999                49          555      11.3           16            33%              5               10%            28      57%    100%
700,000 to 799,999                39          456      11.7            8            21%              9               23%            22      56%    100%
800,000 to 899,999                31          367      11.8            4            13%              1                3%            26      84%    100%
900,000 to 999,999                21          312      14.9            2            10%              3               14%            16      76%     99%
1,000,000 to 1,499,999            32          665      20.8            3             9%              8               25%            21      66%    101%
1,500,000 to 1,999,999            17          410      24.1            4            24%              1                6%            12      71%    100%
2,000,000 to 2,999,999            14          352      25.1            1             7%              3               21%            10      71%    100%
Over 3,000,000                     8          294      36.8            1            13%              1               13%             6      75%    100%

          TOTAL               7,716      26,211         3.4          1,650          21%            2,891             37%        3,175    41%      100%


      •    73% of all single family detached sales were under $200,000
      •    82% of all single family detached sales were under $250,000
      •    91% of all single family detached sales were under $300,000
      •    4% of all single family detached sales were over $500,000
      •    Single family detached sales over $1,000,000 were just under 1% of sales


  Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                   11
  Fwilcox@GCTA.Com 602-648-1230
Table 8
                     May 2010: How Greater Phoenix Single Family Detached Homes Were Purchased
                                  No Other ARMLS Residential Categories Included
                            (Some percentages may add up to 99% or 101% due to rounding)
                                        Cash          Cash         Conv.       Conv.       FHA         FHA       VA      VA
Residential Sold Price                Purchase      Purchase       Loan        Loan        Loan        Loan     Loan    Loan   Other   Other
       Range                  Sales     (No.)          (%)         (No.)        (%)        (No.)        (%)     (No.)    (%)   (No.)    (%)    Total

Under $50,000                   402          367       91%           25          6%          8          2%        0     0%         2     0%       99%
50,000 to 99,999              1,799          773       43%           268        15%         683        38%       49     3%        26     1%      100%
100,000 to 149,999            2,134          502       24%           437        20%        1,048       49%      115     5%        32     1%       99%
150,000 to 199,999            1,276          276       22%           360        28%         539        42%       79     6%        22     2%      100%
200,000 to 249,999              705          149       21%           234        33%         272        39%       42     6%         8     1%       99%
250,000 to 299,999              429           89       21%           194        45%         130        30%       13     3%         3     1%      100%
300,000 to 349,999              260           67       26%           124        48%          53        20%       13     5%         3     1%      100%
350,000 to 399,999              201           49       24%           114        57%          30        15%        6     3%         2     1%      100%
400,000 to 499,999              197           59       30%           129        65%          6          3%        3     2%         0     0%      100%
500,000 to 599,999              102           30       29%           69         68%          0          0%        0     0%         3     3%      100%
600,000 to 699,999               49           16       33%           31         63%          0          0%        1     2%         1     2%      100%
700,000 to 799,999               39           16       41%           22         56%          0          0%        1     3%         0     0%      100%
800,000 to 899,999               31           14       45%           16         52%          0          0%        0     0%         1     3%      100%
900,000 to 999,999               21           10       48%           10         48%          0          0%        0     0%         1     5%      101%
1,000,000 to 1,499,999           32           21       66%           10         31%          0          0%        0     0%         1     3%      100%
1,500,000 to 1,999,999           17           10       59%            7         41%          0          0%        0     0%         0     0%      100%
2,000,000 to 2,999,999           14            9       64%            5         36%          0          0%        0     0%         0     0%      100%
Over 3,000,000                    8            7       88%            1         13%          0          0%        0     0%         0     0%      101%

    2009 TOTALS              7,716       2,464         32%          2,056       27%        2,769       36%      322     4%     105       1%      100%
How Single Family Detached Homes Were Purchased in May 2010
36% FHA Guarantee loan
32% Cash
27% Conventional
 4% VA guarantee loan
 1% Other
100%



Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                  12
Fwilcox@GCTA.Com 602-648-1230
Table 9

                                   Purchase Comparison
         How Residential Properties Were Purchased for the Last Ten Months of May
                                      All Eight ARMLS Residential Categories Included

     Month of May                 May        May        May         May        May         May        May       May     May     May     May
                                  2000       2001       2002        2003       2004        2005       2006      2007    2008    2009    2010

     Conventional                 3,486      3,834      4,030       4,727      6,118       7,055      5,622     4,347   2,591   2,593   2,345

     FHA Guarantee                981        1,116      1,212       846        489         *37        77        113     1,322   2,593   **2,942

     VA Guarantee                 170        249        171         127        120         42         55        61      170     304     335

     Cash                         837        973        862         937        1,208       1,313      710       620     1,066   3,573   3,345


With the high number of homes sales, there are a lot of contracts written incorrectly using FHA, VA and
conventional loan financing. All of these loan types may have specific contract language that needs to be
addressed in the AAR Residential Resale Contract. Contact me for the next class I teach on Contract Writing
and Financing.

* The 37 FHA closings in May 2005 was the least number of FHA closings for a month this
century.

**The 2,942 FHA closings in May 2010 was the highest number of FHA closings for a month this
century.


Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                 13
Fwilcox@GCTA.Com 602-648-1230
Table 10

How Residential Properties Were Purchased: Most and Least in a Month this Century
How Residential Properties Were                                    Most in a Month                              Least in a Month
Purchased
Conventional                                                          August 2005                                January 2008
                                                                        7,507                                       1,757

FHA Guarantee                                                          May 2010                                    May 2005
                                                                        2,942                                        37

VA Guarantee                                                           May 2010                                   August 2005
                                                                         335                                          24

Cash                                                                   April 2010                               September 2007
                                                                         3,634                                       367




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                      14
Fwilcox@GCTA.Com 602-648-1230
Arizona School of Real Estate & Business
                                                   Presents
                                Short Sale Summit: Agent Duties & Liabilities

                                      June 25, 2010 from 9:00 a.m. to 1:00 p.m.
                                       Four hours of Commissioner Standards
    • Three panels
    • Fifteen guest speakers
    • Designated brokers speak on shorts sales                                               Call 480-946-5388 today to register!
    • Lawyers speak on short sales
                                                                                             Short Sale closings almost 2,000 per
    • Escrow speaks on short sales
                                                                                             month!
    • Listing techniques
    • Presenting offers
    • MLS rules
    • Lenders Acceptance
    • Junior lien holders
    • Scams and frauds
    • More!
    • Moderators Bill Gray and Fletcher Wilcox




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                   15
Fwilcox@GCTA.Com 602-648-1230
Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.   16
Fwilcox@GCTA.Com 602-648-1230
This report is for real estate agents only. Some data in this
report is from ARMLS. Residential Focus does not guarantee
the accuracy of the data in this report. Some numbers will be
adjusted. Report may not reflect all real estate activity.
Information should be verified. This article is of a general
nature, and is not intended as real estate advice, lending advice
or legal advice. Please consult your broker, your lender and
your own independent legal counsel. The information in this
report may not be the opinion of Grand Canyon Title Agency,
Inc.




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.   17
Fwilcox@GCTA.Com 602-648-1230
Residential Focus
                                                                            By
                                                                      Fletcher Wilcox
                                               V. P. Business Development for Grand Canyon Title Agency, Inc.
                                                                Fwilcox@gcta.com 602.648-1230

•   Fletcher is proud to be a part of Grand Canyon Title Agency, Inc. The company has been closing escrows in the Valley for twenty-
    seven years and has sixteen escrow offices in the Valley.
•   Born and raised in Arizona, Fletcher remained in the state to receive his Bachelor of Science degree and a Master of Arts degree from
    Arizona State University. Obtained an Arizona Real Estate license in 1985. Co-listed and closed a $2.5 million dollar commercial
    property in 1986.
•   He is a member of the following associations
    Arizona State Escrow Association http://www.azsea.org/
    Arizona Association of Realtors www.AAROnline.com
    Scottsdale Area Association of Realtors www.SAAROnline.com
    Education V.P. for the Arizona Mortgage Lenders Association www.azmortgagelenders.com/
    Publicity coordinator and statistician for the Heart of Scottsdale Tour http://www.saaronline.com/marketing/scottsdale.php
    Past statistician for the Scottsdale Luxury Tour http://www.saaronline.com/marketing/scottsdale.php
•   Fletcher is author of “Residential Focus" a newsletter which provides statistics and analysis for real estate trends and market
    conditions in Greater Phoenix; he has been a guest speaker on KTAR, KJZZ/NPR and KFNN/Financial News Radio and his market
    analysis has been mentioned in the Arizona Republic and AZCentral.com. He is a contributing columnist for the Arizona Journal of
    Real Estate & Business and has written for the Arizona Association of Realtors publication Arizona Realtor Magazine; He teaches
    renewal courses on the Residential Resale Real Estate Purchase Contract, short sales and foreclosures and on the new Good Faith
    Estimate and HUD-1. From 2006 through 2008 was chairman and MC for the Industry Partners Conference: a conference involving
    the Arizona Association of Realtors, the Arizona Mortgage Lenders Association and the Arizona State Escrow Association.
•   To promote music and the arts for teenagers, Fletcher joined Alice Cooper’s Solid Rock organization as a board member.
•   He served eleven years as a citizen board member on the Phoenix Police Department’s Disciplinary Review & Use of Force Boards.
•   Fletcher started snowboarding in 2008 going on six trips. He is not very good.




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                           18
Fwilcox@GCTA.Com 602-648-1230
Locations for Grand Canyon Title Agency, Inc.
Arrowhead - 17235 N. 75th Ave. #A-125, Glendale, AZ 85308                            Mickey Garcia, Sales Representative 602-474-5106
      → Tony Tice – Manager 602-474-5104
Biltmore - 2730 E. Camelback Rd. Ste. 105 Phoenix, AZ 85106                          Trace LaBarr, Sales Representative 602-474-5328
       → Denise Eagar – Manager 602-468-7715
Commercial - 2720 E. Camelback Rd. #100, Phoenix, AZ 85016                           Laurie Sheedy-Sandau, Sales Representative 602-474-5220
      602-468-7777
Fountains - 16150 N. Arrowhead Fountains Ctr Dr. #175, Peoria, AZ 85382              Call 602-648-1230
       → Heidi Velarde – Manager 602-474-5126
Fountain Hills - 17251 E. Shea Blvd. #2, Fountain Hills, AZ 85268                    Adam Saunders, Sales Representative 602-474-5218
       → Kristeen Garcia – Manager 602-474-5120
Gilbert - 725 W. Elliot Rd. Ste #114, Gilbert, AZ 85233                              Shannon Ellsworth, Sales Representative 602-474-5198
         → Tiffany Malcom – Manager 602-474-5210
Hayden - 10607 N. Hayden Park Rd. #F-102, Scottsdale, AZ 85260                       Kas Baird, Sales Representative 602-474-5142
      → Peggi Mathews – Manager 602-474-5140
Marketplace - 20329 N. 59th Ave. Ste. A4, Glendale, AZ 85308                         Shannon Ellsworth, Sales Representative 602-474-5198
      → Judi Gonshak – Manager 602-474-5148
Mesa Fairways – 2420 S. Power Rd., Ste. 101, Mesa AZ 85209                           Adam Saunders, Sales Representative 602-474-5218
       → Melissa Armstrong – Manager 602-474-5214
Metro - 10835 N. 25th Ave. #150, Phoenix, AZ 85029                                   Shannon Ellsworth, Sales Representative 602-474-5198
        → Jody Black – Manager 602-474-5158
Pinnacle Peak - 7308 E. Deer Valley Rd. #110, Scottsdale, AZ 85255                   Sarah Green, Sales Representative 602-474-5224
       → 602-474-5170
Scottsdale North - 6910 E. Chauncey Ln. #120, Phoenix, AZ 85054                      Sarah Green, Sales Representative 602-474-5224
       → Jerry Budnik – Manager 602-474-5174
Short Sale Assistance– 2720 E. Camelback #100, Phoenix, AZ 85016                     Shannon Ellsworth, Sales Representative 602-474-5198
        →Phil Putnam – Manager 602-474-5172
Sonoran Village - 34406 N. 27th Dr. Bldg 9 Ste. 196, Phoenix, AZ 85085               Lindsey Tinkham, Sales Representative 602-474-5114
       → Cathy Weir- Manager 602-474-5110
Sun City - 10001 West Bell Rd. #107, Sun City, AZ 85351                              Mickey Garcia, Sales Representative 602-474-5106
        → Kathy Brooks – Manager 602-474-5184
Surprise - 14239 W. Bell Rd. #108, Surprise, AZ 85374                                Colleen Minetti, Sales Representative 602-474-5190
        → Susan Sowers – Manager 602-474-5186


Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                                  19
Fwilcox@GCTA.Com 602-648-1230
Tempe 1 - 2055 E. Warner Rd. #103, Tempe, AZ 85284                                   Shannon Ellsworth, Sales Representative 602-474-5198
      → Lisa Fletcher – Manager 602-474-5196
Tempe 2 - 2055 E. Warner Rd. #103, Tempe, AZ 85284                                   Greg Douthit, Sales Representative 602-474-5206
      → Steve Gowler – Manager 602-474-5202




Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc.                               20
Fwilcox@GCTA.Com 602-648-1230

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May2010 residentialfocus

  • 1. Residential Focus May 2010 Issue: The Newsletter for knowledge on the Greater Phoenix Residential Market Did the First-Time Homebuyer’s Tax Credit Increase Sales By Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc. FWilcox@GCTA.com 602-648-1230 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 1 Fwilcox@GCTA.Com 602-648-1230
  • 2. Did the First-Time Homebuyer’s Tax Credit Increase Sales? Yes, it did. The numbers write this story. In April 2010, 10,558 homes went Under Contract compared to 6,691 in May 2010 for a drop of 37%. See Table 1. The average number of homes going Under Contract per day was 353 in April compared to 215 this May. In the last three days of April, 1,645 homes went under contract compared to 202 in May. Part of the 37% decrease in properties going Under Contract may have been seasonal. In May 2009, the percent Under Contract dropped 16% in May from April. May residential sales again were over 9,000 for the second month in a row. A confluence of events elevated sales in May: the first-time homebuyers tax credit, affordable home prices, low interest rates, investors, FHA financing and the HUD relaxation of the 90 day no flip waiver effective February 1, 2010. Before the no flip waiver, an investor on a fix and flip had to own the home for 90 days before they could go under contract and sell the property to a buyer purchasing with FHA financing. Table 1 Number of Residential Properties Under Contract Last Twelve Months All Eight ARMLS Residential Categories Under Contract 2009 2010 June July Aug Sep Oct Nov Dec Jan Feb March April May Total for month 8,999 8,346 8,362 8,098 7,766 6,285 6,198 7,538 8,443 10,095 10,558 6,691 -37% Last three days of 808 950 586 993 662 401 631 616 667 1,155 1,625 211 month Last day of 371 320 362 352 90 283 236 110 152 384 672 85 month Average per day 300 269 270 270 250 209 200 243 302 326 352 216 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 2 Fwilcox@GCTA.Com 602-648-1230
  • 3. Table 2 Comparison Under Contract April 2010 to May 2010 by List Price Range All Eight ARMLS Residential Categories April 2010 May 2010 Percentage List Price Range Under Contract Under Contract Change Under $50,000 910 730 -20% 50,000 to 99,999 2,695 1,749 -35% 100,000 to 149,999 2,736 1,569 -43% 150,000 to 199,999 1,618 859 -47% 200,000 to 249,999 884 517 -42% 250,000 to 299,999 523 368 -30% 300,000 to 349,999 308 229 -26% 350,000 to 399,999 248 170 -31% 400,000 to 499,999 230 192 -17% 500,000 to 599,999 133 95 -29% 600,000 to 699,999 84 50 -40% 700,000 to 799,999 52 32 -38% 800,000 to 899,999 28 30 7% 900,000 to 999,999 30 18 -40% 1,000,000 to 1,499,999 47 47 0% 1,500,000 to 1,999,999 8 9 13% 2,000,000 to 2,999,999 17 17 0% Over 3,000,000 7 10 43% TOTAL 10,558 6,691 37% The list price range with the highest percentage decrease going Under Contract in May was $150,000 to 199,999 at 47%. While most list price ranges had percentage decreases this was not so for list prices over $1,000,000. The number of properties going Under Contract with a list price of $1,000,000 or more stayed the same or increased. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 3 Fwilcox@GCTA.Com 602-648-1230
  • 4. Short Sale Update Short sale closings over 1,900 for second consecutive month. The Treasury’s HAFA program (Home Affordable Foreclosure Alternatives) went into effect April 5, 2010. The Treasury’s program excluded loans held by Freddie Mac and Fannie Mae. This in effect excluded many home loans from participating in the Treasury’s HAFA Program. On Tuesday, June 1, 2010 Fannie Mae announced their HAFA Program. Below is the Fannie Mae’s announcement along with links for more information on their short sale program. Announcement: Fannie Mae Introduces HAFA Program On Tuesday, June 1, Fannie Mae issued Servicing Guide Announcement SVC-2010-07, introducing Fannie Mae's Home Affordable Foreclosure Alternatives (HAFA) Program. It, like Treasury's Home Affordable Foreclosure Alternatives Program (as described in Supplemental Directive 09-09 Revised), is designed to mitigate the impact of foreclosures on borrowers who are eligible for a loan modification under the Home Affordable Modification Program (HAMP) but ultimately are unsuccessful in obtaining one. Program Features The Fannie Mae Home Affordable Foreclosure Alternatives Program, which becomes effective August 1, 2010, simplifies and streamlines the use of short or "preforeclosure" sale and deed-in-lieu of foreclosure (DIL) options on HAMP-eligible loans by incorporating the following unique features: • Complements HAMP by providing alternatives for borrowers who are HAMP eligible (including borrowers facing imminent default); • Allows the borrower to receive pre-approved short sale terms prior to the property listing; • Prohibits the servicer from requiring, as a condition of approving the short sale, a reduction in the real estate commission agreed upon in the listing agreement; • Releases the successful HAFA borrower from future liability for the debt; • Uses standard processes, documents, and timeframes; • Provides financial incentives to borrowers, servicers and subordinate lien holders; and • Utilizes verified borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis. For More Information For complete program information, read the Announcement. Other related materials are available on the new HAFA page on eFannieMae.com. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 4 Fwilcox@GCTA.Com 602-648-1230
  • 5. Chart 1 Number of Residential Sales for Greater Phoenix All Eight ARMLS Residential Categories Included 12,000 10,252 9,284 9,350 9,096 8,991 9,298 9,105 10,000 8,552 8,038 7,915 8,143 7,440 7,555 7,628 8,000 6,539 5,729 6,000 4,742 5,474 4,000 2,912 2,000 0 ri l ri l ay ay ne ly ov b g b ch ch 05 08 09 10 p ct ec Au Fe Fe Se Ju Ap Ap O M M N Ju ar ar n- n- n- n- D M M Ju Ja Ja Ja Historical Perspective Most ARMLS residential sales in a month were 10,252 of June 2005, with a median sales price of $250,000. Least ARMLS residential sales in a month were 2,912 of January 2008, with a median sales price of $220,000. May 2010 residential sales were 9,105 with a median sales price of $130,000. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 5 Fwilcox@GCTA.Com 602-648-1230
  • 6. Chart 2 May 2010 Median Home Sales Price Up $3,000 from April 2010 Median Home Sales Price for Greater Phoenix All Eight ARMLS Cateogies Included (number in thousands) 250 220 214 210 210 205 199 190 185 200 170 164 150 143 150 130 125 120 116 120 125 125 126 130 128 130 127 125 125 128 127 130 100 50 0 ly ov ly ov ch ch ch 08 09 10 ay ay ay p p Ju Se Ju Se N N M M M ar ar ar n- n- n- M M M Ja Ja Ja Median Home Sales Price Percentage Difference -51% June 2006 compared to April 2010 +14% April 2009 compared to May 2010 +2% April 2010 compared to May 2010 +8% May 2009 compared to May 2010 Highest Median Home Sales Price This Century June 2006 $265,000 Lowest Median Home Sales Price in Last Ten Years April 2009 $116,000 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 6 Fwilcox@GCTA.Com 602-648-1230
  • 7. Table 3 May 2010 What Residential Property Types Are Buyers Buying? Residential Sales by All Eight ARMLS Residential Categories Category Total Sales Short Sales Lender Owned Other Totals No. % No. % No. % No. % (total may be 99%-101% due to rounding) Single Family Detached 7,716 85% 1,650 21% 2,891 37% 3,175 41% 99% Townhouse 576 6% 114 20% 236 41% 226 39% 100% Apartment Style/Flat 485 5% 98 20% 218 45% 169 35% 100% Manufactured/Mobile 146 2% 11 8% 63 43% 72 49% 100% Housing Patio 125 1% 18 14% 25 20% 82 66% 100% Gemini/Twin Home 43 * 7 16% 6 14% 30 70% 100% Loft 10 * 2 20% 1 10% 7 70% 100% Modular / Pre-Fab 4 * 25% 1 25% 2 50% 100% Totals 9,105 100% 1,901 21% 3,441 38% 3,763 41% 100% * Less than one percent Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 7 Fwilcox@GCTA.Com 602-648-1230
  • 8. Table 4 Number of Lender-Owned Sales and Short Sales All Eight ARMLS Residential Categories Included 2008 2009 2010 Number of Sales Sep Oct Nov Dec Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. March April May Lender Owned Sales 2,363 2,248 1,989 2,925 3,077 3,566 5,053 5,564 5,835 5,351 4,847 4,067 3,792 3,617 3,048 3,306 2,498 2,702 3,598 3,536 3,441 Short Sales 74 143 340 442 419 471 701 783 979 1,152 1,351 1,444 1,454 1,557 1,399 1,611 1,204 1,380 1,754 1,921 1,901 *Other 3,630 2,941 1,986 2,085 1,246 1,439 1,874 2,205 2,470 2,847 2,898 2,527 2,669 2,969 2,993 2,638 2,027 2,457 3,639 3,841 3,763 Total 6,067 5,332 4,315 5,452 4,742 5,476 7,628 8,552 9,284 9,350 9,096 8,038 7,915 8,143 7,440 7,555 5,729 6,539 8,991 9,298 9,105 Table 5 Percentage of Lender-Owned Sales and Short Sales All Eight ARMLS Residential Categories Included Percentage of Sales Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb March April May Lender Owned Sales 65% 65% 66% 65% 63% 57% 53% 51% 48% 44% 41% 44% 44% 41% 40% 38% 38% Short Sales 9% 9% 9% 9% 11% 12% 15% 18% 18% 19% 19% 21% 21% 22% 20% 21% 21% *Other 26% 26% 25% 26% 27% 30% 32% 31% 34% 37% 40% 35% 35% 37% 41% 41% 41% 100% 100% 100% 100% 101% 99% 100% 100% 100% 100% 100% 100% 100% 100% 101% 100% 100% Total Distressed Sales 74% 74% 75% 74% 74% 69% 68% 69% 66% 63% 60% 66% 64% 63% 60% 59% 59% *Other is categorized as neither a lender owned sale or short sale Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 8 Fwilcox@GCTA.Com 602-648-1230
  • 9. Table 6 Buy and Hold? What Residential Property Types Are Renter’s Renting? Category Inventory May Signed Estimated Months June 7 Leases of Supply No. No. Single Family 3,240 1,741 1.9 Detached Apartment Style/Flat 1,411 255 5.5 Townhouse 980 256 3.8 Patio 240 61 4.0 Totals 5,871 2,313 2.5 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 9 Fwilcox@GCTA.Com 602-648-1230
  • 10. The Single Family Detached Sales Report Only No Other Residential Categories Included Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 10 Fwilcox@GCTA.Com 602-648-1230
  • 11. Table 7 May 2010 Greater Phoenix Single Family Detached Sales No Other ARMLS Residential Categories Included (Some percentages may add up to 99% or 101% due to rounding) Active Estimated Lender- Lender- Residential Sold Price Listings Months of Short Short Owned Sales Owned Sales Other Other Range Sales June 7 Supply Sales (No.) Sales (%) (No.) ( %) (No.) (%) Total Under $50,000 402 824 2.0 66 16% 287 71% 49 12% 100% 50,000 to 99,999 1,799 4,421 2.5 471 26% 846 47% 482 27% 100% 100,000 to 149,999 2,134 5,465 2.6 417 20% 863 40% 854 40% 99% 150,000 to 199,999 1,276 3,929 3.1 259 20% 447 35% 570 45% 101% 200,000 to 249,999 705 2,288 3.2 139 20% 203 29% 363 51% 100% 250,000 to 299,999 429 1,790 4.2 99 23% 92 21% 238 55% 101% 300,000 to 349,999 260 1,101 4.2 47 18% 38 15% 175 67% 100% 350,000 to 399,999 201 1,076 5.4 46 23% 38 19% 117 58% 100% 400,000 to 499,999 197 1,151 5.8 45 23% 31 16% 121 61% 100% 500,000 to 599,999 102 755 7.4 22 22% 15 15% 65 64% 100% 600,000 to 699,999 49 555 11.3 16 33% 5 10% 28 57% 100% 700,000 to 799,999 39 456 11.7 8 21% 9 23% 22 56% 100% 800,000 to 899,999 31 367 11.8 4 13% 1 3% 26 84% 100% 900,000 to 999,999 21 312 14.9 2 10% 3 14% 16 76% 99% 1,000,000 to 1,499,999 32 665 20.8 3 9% 8 25% 21 66% 101% 1,500,000 to 1,999,999 17 410 24.1 4 24% 1 6% 12 71% 100% 2,000,000 to 2,999,999 14 352 25.1 1 7% 3 21% 10 71% 100% Over 3,000,000 8 294 36.8 1 13% 1 13% 6 75% 100% TOTAL 7,716 26,211 3.4 1,650 21% 2,891 37% 3,175 41% 100% • 73% of all single family detached sales were under $200,000 • 82% of all single family detached sales were under $250,000 • 91% of all single family detached sales were under $300,000 • 4% of all single family detached sales were over $500,000 • Single family detached sales over $1,000,000 were just under 1% of sales Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 11 Fwilcox@GCTA.Com 602-648-1230
  • 12. Table 8 May 2010: How Greater Phoenix Single Family Detached Homes Were Purchased No Other ARMLS Residential Categories Included (Some percentages may add up to 99% or 101% due to rounding) Cash Cash Conv. Conv. FHA FHA VA VA Residential Sold Price Purchase Purchase Loan Loan Loan Loan Loan Loan Other Other Range Sales (No.) (%) (No.) (%) (No.) (%) (No.) (%) (No.) (%) Total Under $50,000 402 367 91% 25 6% 8 2% 0 0% 2 0% 99% 50,000 to 99,999 1,799 773 43% 268 15% 683 38% 49 3% 26 1% 100% 100,000 to 149,999 2,134 502 24% 437 20% 1,048 49% 115 5% 32 1% 99% 150,000 to 199,999 1,276 276 22% 360 28% 539 42% 79 6% 22 2% 100% 200,000 to 249,999 705 149 21% 234 33% 272 39% 42 6% 8 1% 99% 250,000 to 299,999 429 89 21% 194 45% 130 30% 13 3% 3 1% 100% 300,000 to 349,999 260 67 26% 124 48% 53 20% 13 5% 3 1% 100% 350,000 to 399,999 201 49 24% 114 57% 30 15% 6 3% 2 1% 100% 400,000 to 499,999 197 59 30% 129 65% 6 3% 3 2% 0 0% 100% 500,000 to 599,999 102 30 29% 69 68% 0 0% 0 0% 3 3% 100% 600,000 to 699,999 49 16 33% 31 63% 0 0% 1 2% 1 2% 100% 700,000 to 799,999 39 16 41% 22 56% 0 0% 1 3% 0 0% 100% 800,000 to 899,999 31 14 45% 16 52% 0 0% 0 0% 1 3% 100% 900,000 to 999,999 21 10 48% 10 48% 0 0% 0 0% 1 5% 101% 1,000,000 to 1,499,999 32 21 66% 10 31% 0 0% 0 0% 1 3% 100% 1,500,000 to 1,999,999 17 10 59% 7 41% 0 0% 0 0% 0 0% 100% 2,000,000 to 2,999,999 14 9 64% 5 36% 0 0% 0 0% 0 0% 100% Over 3,000,000 8 7 88% 1 13% 0 0% 0 0% 0 0% 101% 2009 TOTALS 7,716 2,464 32% 2,056 27% 2,769 36% 322 4% 105 1% 100% How Single Family Detached Homes Were Purchased in May 2010 36% FHA Guarantee loan 32% Cash 27% Conventional 4% VA guarantee loan 1% Other 100% Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 12 Fwilcox@GCTA.Com 602-648-1230
  • 13. Table 9 Purchase Comparison How Residential Properties Were Purchased for the Last Ten Months of May All Eight ARMLS Residential Categories Included Month of May May May May May May May May May May May May 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Conventional 3,486 3,834 4,030 4,727 6,118 7,055 5,622 4,347 2,591 2,593 2,345 FHA Guarantee 981 1,116 1,212 846 489 *37 77 113 1,322 2,593 **2,942 VA Guarantee 170 249 171 127 120 42 55 61 170 304 335 Cash 837 973 862 937 1,208 1,313 710 620 1,066 3,573 3,345 With the high number of homes sales, there are a lot of contracts written incorrectly using FHA, VA and conventional loan financing. All of these loan types may have specific contract language that needs to be addressed in the AAR Residential Resale Contract. Contact me for the next class I teach on Contract Writing and Financing. * The 37 FHA closings in May 2005 was the least number of FHA closings for a month this century. **The 2,942 FHA closings in May 2010 was the highest number of FHA closings for a month this century. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 13 Fwilcox@GCTA.Com 602-648-1230
  • 14. Table 10 How Residential Properties Were Purchased: Most and Least in a Month this Century How Residential Properties Were Most in a Month Least in a Month Purchased Conventional August 2005 January 2008 7,507 1,757 FHA Guarantee May 2010 May 2005 2,942 37 VA Guarantee May 2010 August 2005 335 24 Cash April 2010 September 2007 3,634 367 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 14 Fwilcox@GCTA.Com 602-648-1230
  • 15. Arizona School of Real Estate & Business Presents Short Sale Summit: Agent Duties & Liabilities June 25, 2010 from 9:00 a.m. to 1:00 p.m. Four hours of Commissioner Standards • Three panels • Fifteen guest speakers • Designated brokers speak on shorts sales Call 480-946-5388 today to register! • Lawyers speak on short sales Short Sale closings almost 2,000 per • Escrow speaks on short sales month! • Listing techniques • Presenting offers • MLS rules • Lenders Acceptance • Junior lien holders • Scams and frauds • More! • Moderators Bill Gray and Fletcher Wilcox Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 15 Fwilcox@GCTA.Com 602-648-1230
  • 16. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 16 Fwilcox@GCTA.Com 602-648-1230
  • 17. This report is for real estate agents only. Some data in this report is from ARMLS. Residential Focus does not guarantee the accuracy of the data in this report. Some numbers will be adjusted. Report may not reflect all real estate activity. Information should be verified. This article is of a general nature, and is not intended as real estate advice, lending advice or legal advice. Please consult your broker, your lender and your own independent legal counsel. The information in this report may not be the opinion of Grand Canyon Title Agency, Inc. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 17 Fwilcox@GCTA.Com 602-648-1230
  • 18. Residential Focus By Fletcher Wilcox V. P. Business Development for Grand Canyon Title Agency, Inc. Fwilcox@gcta.com 602.648-1230 • Fletcher is proud to be a part of Grand Canyon Title Agency, Inc. The company has been closing escrows in the Valley for twenty- seven years and has sixteen escrow offices in the Valley. • Born and raised in Arizona, Fletcher remained in the state to receive his Bachelor of Science degree and a Master of Arts degree from Arizona State University. Obtained an Arizona Real Estate license in 1985. Co-listed and closed a $2.5 million dollar commercial property in 1986. • He is a member of the following associations Arizona State Escrow Association http://www.azsea.org/ Arizona Association of Realtors www.AAROnline.com Scottsdale Area Association of Realtors www.SAAROnline.com Education V.P. for the Arizona Mortgage Lenders Association www.azmortgagelenders.com/ Publicity coordinator and statistician for the Heart of Scottsdale Tour http://www.saaronline.com/marketing/scottsdale.php Past statistician for the Scottsdale Luxury Tour http://www.saaronline.com/marketing/scottsdale.php • Fletcher is author of “Residential Focus" a newsletter which provides statistics and analysis for real estate trends and market conditions in Greater Phoenix; he has been a guest speaker on KTAR, KJZZ/NPR and KFNN/Financial News Radio and his market analysis has been mentioned in the Arizona Republic and AZCentral.com. He is a contributing columnist for the Arizona Journal of Real Estate & Business and has written for the Arizona Association of Realtors publication Arizona Realtor Magazine; He teaches renewal courses on the Residential Resale Real Estate Purchase Contract, short sales and foreclosures and on the new Good Faith Estimate and HUD-1. From 2006 through 2008 was chairman and MC for the Industry Partners Conference: a conference involving the Arizona Association of Realtors, the Arizona Mortgage Lenders Association and the Arizona State Escrow Association. • To promote music and the arts for teenagers, Fletcher joined Alice Cooper’s Solid Rock organization as a board member. • He served eleven years as a citizen board member on the Phoenix Police Department’s Disciplinary Review & Use of Force Boards. • Fletcher started snowboarding in 2008 going on six trips. He is not very good. Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 18 Fwilcox@GCTA.Com 602-648-1230
  • 19. Locations for Grand Canyon Title Agency, Inc. Arrowhead - 17235 N. 75th Ave. #A-125, Glendale, AZ 85308 Mickey Garcia, Sales Representative 602-474-5106 → Tony Tice – Manager 602-474-5104 Biltmore - 2730 E. Camelback Rd. Ste. 105 Phoenix, AZ 85106 Trace LaBarr, Sales Representative 602-474-5328 → Denise Eagar – Manager 602-468-7715 Commercial - 2720 E. Camelback Rd. #100, Phoenix, AZ 85016 Laurie Sheedy-Sandau, Sales Representative 602-474-5220 602-468-7777 Fountains - 16150 N. Arrowhead Fountains Ctr Dr. #175, Peoria, AZ 85382 Call 602-648-1230 → Heidi Velarde – Manager 602-474-5126 Fountain Hills - 17251 E. Shea Blvd. #2, Fountain Hills, AZ 85268 Adam Saunders, Sales Representative 602-474-5218 → Kristeen Garcia – Manager 602-474-5120 Gilbert - 725 W. Elliot Rd. Ste #114, Gilbert, AZ 85233 Shannon Ellsworth, Sales Representative 602-474-5198 → Tiffany Malcom – Manager 602-474-5210 Hayden - 10607 N. Hayden Park Rd. #F-102, Scottsdale, AZ 85260 Kas Baird, Sales Representative 602-474-5142 → Peggi Mathews – Manager 602-474-5140 Marketplace - 20329 N. 59th Ave. Ste. A4, Glendale, AZ 85308 Shannon Ellsworth, Sales Representative 602-474-5198 → Judi Gonshak – Manager 602-474-5148 Mesa Fairways – 2420 S. Power Rd., Ste. 101, Mesa AZ 85209 Adam Saunders, Sales Representative 602-474-5218 → Melissa Armstrong – Manager 602-474-5214 Metro - 10835 N. 25th Ave. #150, Phoenix, AZ 85029 Shannon Ellsworth, Sales Representative 602-474-5198 → Jody Black – Manager 602-474-5158 Pinnacle Peak - 7308 E. Deer Valley Rd. #110, Scottsdale, AZ 85255 Sarah Green, Sales Representative 602-474-5224 → 602-474-5170 Scottsdale North - 6910 E. Chauncey Ln. #120, Phoenix, AZ 85054 Sarah Green, Sales Representative 602-474-5224 → Jerry Budnik – Manager 602-474-5174 Short Sale Assistance– 2720 E. Camelback #100, Phoenix, AZ 85016 Shannon Ellsworth, Sales Representative 602-474-5198 →Phil Putnam – Manager 602-474-5172 Sonoran Village - 34406 N. 27th Dr. Bldg 9 Ste. 196, Phoenix, AZ 85085 Lindsey Tinkham, Sales Representative 602-474-5114 → Cathy Weir- Manager 602-474-5110 Sun City - 10001 West Bell Rd. #107, Sun City, AZ 85351 Mickey Garcia, Sales Representative 602-474-5106 → Kathy Brooks – Manager 602-474-5184 Surprise - 14239 W. Bell Rd. #108, Surprise, AZ 85374 Colleen Minetti, Sales Representative 602-474-5190 → Susan Sowers – Manager 602-474-5186 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 19 Fwilcox@GCTA.Com 602-648-1230
  • 20. Tempe 1 - 2055 E. Warner Rd. #103, Tempe, AZ 85284 Shannon Ellsworth, Sales Representative 602-474-5198 → Lisa Fletcher – Manager 602-474-5196 Tempe 2 - 2055 E. Warner Rd. #103, Tempe, AZ 85284 Greg Douthit, Sales Representative 602-474-5206 → Steve Gowler – Manager 602-474-5202 Residential Focus By Fletcher Wilcox, Vice President of Business Development, Grand Canyon Title Agency, Inc. 20 Fwilcox@GCTA.Com 602-648-1230