Are Housing Prices Heading Down? Scary Stories Don’t Match The Numbers

The Housing Market May Look Grim In Your Area, But It's Pretty Competitive Here in Phoenix After reading a recent article on HousingWire.com, I am scratching my head. The article predicts that housing prices are heading down. But, here in Phoenix, we are seeing sustained activity in a very competitive market. As a buyer, you may consider articles like this when developing your bidding strategy but these stories can be very misleading. Articles that paint a broad picture of market trends are completely useless when looking at a local real estate market which depends on local activity and the price range you are considering. Be wary of … [Read more...]

Multiple Counter Offers – Bring ‘Em On!!

Bidding on a Foreclosure? It's Not Over Until It's Over! With the competitive Buyer's market we are seeing in Phoenix right now, buyers are frustrated when they lose out in the bidding wars. But lately, I have seen a surprising turn as buyers are bidding on multiple properties - it's never over until it's over! Buyers are putting in offers on multiple properties to better their odds of winning the bidding wars. But with so many challenges in closing the deal, and the fact soem buyers end up with several accepted offers, I have seen more and more, that even though you may be in a back-up position - 2nd, 3rd, even 4th in line - you might … [Read more...]

Bill & Kristin’s Excellent Adventures…Hoover Dam

A Must-See Destination Between Phoenix and Las Vegas! On our back from Las Vegas, Bill & I decided to check out the Hoover Dam...and we had a DAM good time while we were there! Check out the our advice on food and parking, the tomb of the nameless Hoover Dam mascot, whose life ended tragically, the history of the dam, and best of all...the gold-plated restrooms! … [Read more...]

Tips To Make The Move To Your New Home a Smooth One

(What NOT to Do!) I recently moved to a new home learned some valuable tips on what NOT to do...our move happened a little sooner than expected so our plans were made on the fly. We learned how NOT to pack, where NOT to put those critical items, who NOT to use as moving helpers, which moving truck NOT to get and what NOT to bring along. In the end, we love our new house and are getting all settled in so it was all worth it. But I hope these tips will help you avoid some of the little set-backs we endured. If you are packing up to move, congrats and all the best in your new home... … [Read more...]

What’s Next After Foreclosure? An Eviction, Perhaps!

Since When Did I Become a Cockroach In My Own Home Two weeks ago, my home was sold at the Trustee Sale to an investor. I found out when his realtor, Randy Duncan, showed up at my door with a 5-day notice to vacate - the standard eviction form used in Arizona. Before the 5-days expired, we agreed to a 2-week period for me to move out - me and my 4 kids. Since then, I have been in communication with the realtor, letting him know that things are moving along. He took down the For Sale sign that appeared less than 48 hours after the sale. He sent over a pool repair to fix my filter - I even allowed him to refill the pool on my nickel. We … [Read more...]

The Week After You Lose Your House at the Trustee Sale

What a Difference A Week Can Make! Looking Forward to a Fresh Start A week has passed since my house was sold at the Trustee Sale and oh, what a difference a week can make! My kids and I spent a few days in mourning, but the decided to move on and start our new life. We went house shopping and found a great house that is a lot bigger - a lot cheaper - than that house we lost. Yes it was tough, but we are going to make the best of it and start fresh. We are SO grateful for all our friends and family members who have helped us out. I will return the favor when the time comes...that's for sure. … [Read more...]

What Happens RIGHT AFTER Your House Sells at the Trustee Sale

For some it's a monetary windfall, for others it's complete devastation... It's been two days since my house sold that the Trustee Sale and a lot has happened. Although the shock hasn't quite worn off, we are looking ahead to better days.  The Buyer has not wasted anytime managing his new asset. Although I can appreciate the efficient way he and his team have handled this "acquisition", the fact is, until we move out, it is still my family's home. I don't know the best way to handle this awkward situation, but I am pretty sure things could have been handled better in this case.  Within two days of the Trustee Sale, there was a For Sale sign … [Read more...]

Trustee Sale…The Day My House Got Sold

The Other Side of Trustee Sales - When YOUR House Gets Sold My house was sold at Trustee Sale today.  I got to experience the same thing as millions of others already have.  The statistics are staggering... over 500 homeowners in Maricopa County had the same day I had... I have spent over a year trying to figure out a way to keep my home...my story is the same boring story that is told over and over again.  Less money coming in the door...harder to make the payments...can't sell because you are way upside down...promised a loan modification by the lender but then denied at the 11th hour...on and on as possible solutions continued to slip … [Read more...]

Buying a House? Third Time’s a Charm!

In this market, never give up! Anything is possible... After three tries, my client finally won the contract on her dream home!  Anything is possible during these real estate deals with the dysfunctional real estate market we are now experiencing.  SO MANY DEALS ARE CANCELLED during the escrow period  due to financing difficulties, multiple offers or inspection problems, that many homes come back on the market for a 2nd or 3rd shot.  Just because you lose out on a house you are bidding on does not necessarily mean you are out of luck. Lessons learned? If you find a house you love, put in a strong offer...if you lose out, don't give up until … [Read more...]

Hey HUD!! Most Buyers Expect Power & Water When They Buy a Home!

What the HUD Property Condition Report Does Not Tell You Let me just start off my saying that I think the folks at MCB do a great job managing these properties that are offered on the market by the Housing and Urban Development Department (HUD).  But here is on problem that could be handled better... One of my clients has a HUD home in escrow.  We are setting up utilities to perform a home inspection.  Note that HUD does not have the same due diligence policy that our Arizona contract outlines - when they say As-Is, they mean it. It is difficult to get a refund of earnest money from HUD so the inspection is more for informational purposes … [Read more...]