Posts Tagged ‘az’

Is It Time to Make Your Move? The cost of waiting! Part 1

Available inventory is VANISHING!

Detecting signs of VANISHING Shadow Inventory

Check out this chart! —> Buyer Purchasing Power 

The percentage of shadow inventory is down 78% in Arizona!

What is Shadow Inventory: A looming mass of delinquent and foreclosed-upon homes that threatened to destabilize the market.

In April 2014, Corelogic released its most recent figures on Shadow Inventory.

  • The national residential shadow inventory declined 23% year over year this past January.
  • The inventory has experienced double digit year over year declines for each of the past 16 consecutive months.
  • The shadow inventory from Jan 2013- Jan 2014 has decreased an average monthly rate of over 41000 properties, according to CoreLogic.

Why the decline?

  • Healthy housing market.
  • Prices have been going up at a steady pace, positive home equity, simple increase in home value over the last few years.
  • An abundance of short sales or modifications.
  • Reducing inventory=less opportunity= higher prices= QUESTION? Why wait?

Is it time to make your move? What are you waiting for?  

Apply today! 

First Class Financial Services

Leslie Nilsen                                                    


     MB#0902810 / NMLS # 162494


I’m ready! I want to buy a house! How do I get started?

I’m ready! I want to buy a house! How do I get started?

Surprisingly, it’s easy.  First, and foremost, you need to complete a mortgage application.  You can do that by going online to and click APPLY ONLINE! This will walk you through the full application and it is emailed back to me as soon as you hit submit!  OR you can call the office at 602.294.9288 and we can do one together over the phone.

You should have the following items handy when we do the application:
Current paycheck stub

Last years W2 

Current asset account statements (checking, savings, 401K etc)

Once I have the application, I will pull a copy of your credit report.  

We now have a full picture of where you currently stand and an idea of what you qualify for.

We will spend the time together to review your application, your credit report and what you qualify for.  What down payment you should be prepared for? What the new mortgage payment will likely look  like? Things that you should consider as you start your house hunting?  As well as cover any questions you may have.

Once you have a loan approval, you are ready to hit the streets with your realtor! Need an Arizona realtor referral? We can help with that as well! You can see a list of our preferred realtors on the website as well at 

We will provide the neccessary PreQualification Letter that your realtor will need in order for you to make an offer.   Many times, as you begin looking at Arizona homes, we may need to re-visit your application so we can compare what you find, with what the mortgage numbers will look like.  Ensure that you still have the same comfort level as when you began looking. 

Once you have an accepted offer from the seller… we are off an running! This is when your Arizona mortgage loan submission process begins.  Stay tuned for further blog posts on how the Arizona mortgage loan submission process works!

Any questions? Feel free to email me at or post your question on Facebook —>!/pages/First-Class-Financial-Services/278622632014

or of course, you can always call 602.294.9288

Having a dream is good, Owning one is better!

Leslie Nilsen


First Class Financial Services, proudly Arizona mortgage lending since 1999.




NMLS #162494

AZDFI Loan Officer # LO-0911453


Military Veterans easy /inexpensive streamline refinance!

Miliatry veterans that have used their VA Eligibility to purchase a home can easily streamline refinance!

In many cases there is no appraisal, no income or asset verification to qualify!

The new VA Funding fee is .50% which is financed on top of the eligible loan amount and the closing costs can be rolled into the loan.

AND there is a huge resale advantage!  With interest rates being unbelievably low, upon resale, an NEW eligible veteran could assume the existing loan at the low refinanced rate.   All things being equal, when it comes to resale time, the assumable low rate VA loan could be the deciding factor between houses!

Spread the word to all the veterans out there.  First, THANK YOU for keeping us safe, second, time to pay less on your American Dream!

Having a dream is good, owning one is better!

Leslie Nilsen

Owner/ Broker

First Class Financial Services


MB#0902810 / NMLS#162494

Kids and Money… The 3 C’s

Critical. Control. Credit.  Critical is #1. Control is 1.1. Credit is #1.2.  (All close in line is what I am trying to say)  

I have talked to my son about all of these since he was a toddler.  Little did he know when we were talking about how inappropriate it was for him to be throwing a fit while begging for candy at the grocery store, that we were really talking about his credit report.   “You cannot get future great stuff without doing the right thing right now” 

Critically think first, practice some control and know that credit is like breathing.   Re-read that last sentence.  If we all jumped out of bed, said “Goodmorning Day” and adopted that as our new mantra… where would we be? 

So many clients come to me with the dream of home ownership only for me to tell them that their credit score it too low to qualify.  They have worked their butts off, they have spent years saving the down payment money, they have changed their lifestyle to handle the new dream mortgage payment but skid…… no dream home for you.  Their credit score is too low because last December, when they bought a new big screen TV instead of making the credit card payment,  they forgot… “You cannot get future great stuff without doing the right thing right now”  I have to also remind them that their credit score plummets and is like climbing Mount Everest to get the score back up again.   THAT conversation is why I write this blog.  Although titled “Kids and Money”, sometimes my 44 year old clients need to be reminded of the lessons they should have learned with they were 4.

Critical. Control. Credit.  Start with YOUR kids when they are 4. 

Having a dream is good, owning one is better!

Leslie Pelletiere, Owner

First Class Financial Services
602.294.9288 (p)

MB#0902810 / NMLS#162476