Happy New Year 2017 – Looking Ahead in Phoenix Real Estate

We have spent 7.5 years in an awesome growth period as a country. On the flip side, this makes us well overdue for a little recession. That's pretty amazing though - considering we've come a long way from foreclosure and losing our homes back in 2008. The interesting thing about being overdue for a recession is this: It's kind of like being overdue for a major earthquake in Los Angeles - except a tiny recession is much more likely to happen yet won't leave your life in shambles. This mini-recession will not be anywhere near as bad as 2008. We won't have to rebuild an entire city, or country, for that matter.   Here are … [Read more...]

Are We Headed For Another Real Estate Bubble?

Sorry to interrupt your regularly scheduled PBS program in the drab, grey fields of irrational paranoia, fear and anarchy, but I have an important message for you: IT'S ALL IN YOUR HEAD. WE ARE NOT IN A HOUSING CRISIS. We are not about to be in one either! I know what you're thinking, "Oh, but Kristin, you're a REAL ESTATE agent. Of course you would tell us we're not in a housing crisis... You just want my $%#^@ MONEY!" No. I want you to be happy. And happiness comes from being educated by the facts. With knowledge comes power and confidence - not this fear bullcrap. Let's get rid of this fear thing. It never does anyone any good … [Read more...]

Homeowners Suing for HAMP…But WHY???

The Making Home Affordable's Loan Affordable Program Has Left Too Many Homeowners Scratching Their Heads Checked out Mandelman Matters blog about the HAMP law suits. It's great that homeowners are getting there day in court, but I am wondering if it really matters? Let's face it, these loan modifications are not working. Even if you have your day in court and the judge tells the bank , " you are hereby ordered to reduce this man's payment", you are still underwater in your mortgage and most likley decades away from a break even point. You can sue, but why? Check out Mandelman's blog for the story. … [Read more...]

Hey Bank! Take My House, Please!

A follow-up to a post by Dean Ouellette at http://www.deansellsaz.com and a chat with a friend of mine who is contemplating a Strategic Default on her home. Is this a sign of things to come in 2010? Seems that way if the issue of negative equity is not addressed by banks. … [Read more...]

Why Loan Modifications Aren’t Working

There has been a lot of finger-pointing lately about the effectiveness or lack thereof of loan modifications in reducing the number of foreclosures in our troubled housing market. Why aren't loan modifications helping distressed homeowners? Here are my thoughts... … [Read more...]

5 (Less!) Frequently Asked Questions About Short Sales

Oh, so many questions about short sales, but here are the answers to a few that I have been asked recently: - What if your CPA tells you to get a short sale? - What if your house burns down during a short sale? - Can my Mom buy your house and sell it back to me? - Can the bank ask me for money? - Can I keep "souvenirs"? … [Read more...]

Come to My Garage Sale!

Next weekend, I am going to have a garage sale.  My kids love garage sales, but I don't do them a lot.  I have never had one since we moved into this house three years ago.  I thought about it a while back - my garage seems to be getting cluttered with "stuff" and I would like to reclaim the space. But...this garage sale is not about space. Like so many people out there, I am battling right now with a dire financial situation.  It really sucks, that's just a fact.  I have felt so low I would have to reach up to touch the ground.  But I refuse to give up.  I have reached out to other people who are going through the same thing and  I am so … [Read more...]

The Pride Thing

Pride is a powerful thing. It has been my motivation in tough times, but I now realize it  has also been my worst enemy.   Many events and achievements in my life have brought me great pride. Certainly my kids make me enormously proud. The fact that I am the first person in my family to graduate from college is a source of pride. I am proud that I can drive a stick shift - a skill I mastered by driving a 1960 Volkswagon Beetle through the hills of Palos Verdes - a car that surely is run by hamster power.  Yes, I am proud that I mastered that challenge.  I am proud that I can make bread, that I earned an 'A' grade in Partial Differential … [Read more...]

The Food Thing

OK, just to warn anyone who might be reading this blog, there are going to be a lot of postings...a LOT! Why, because I am a single mom with neither a hubby nor a shrink to consult with.  My therapy is this blog.  And on a day like this, I need two sessions. I am usually a pretty upbeat person, but some days, here lately, I cry a lot. And I hate it.  It is non-productive.  It really is.  Boo hoo, my problems are so bad. Well, after you sniff into a couple of Kleenex for 30 minutes, guess what? Your problems are still there. So, instead, I am going to write about one of the successes I have had in battling my economic crisis.  An area in … [Read more...]

My Do-It-Yourself Loan Modification – Yeah, They Work!

A few months ago, with my reserve funds depleted and a tough real estate market ahead, my financial situation was becoming dire.  With tough times ahead, I took a hard look at my financial situation and started to prioritize.  Sounds logical doesn't it? Actually, there have been a lot of tears and much lost sleep as I waded through my options.  But I eventually decided that my first step was to trim my budget as far as it would go, and the biggest ticket item is the house.   I bought my house when I got divorced.  It is less than a mile from where we used to live so the boys have all the same friends and go to the same schools.  It is about … [Read more...]