With the inventory of foreclosures on the decline in Phoenix, buyers are sre starting to get frustrated. With less than one month's inventory of foreclosures, also known as REO's, some Buyers are looking for alternatives to the bidding wars they are often facing when trying one of these homes. Although 2/3 of the homes sold … [Read more...] about Is It Time To Buy A Short Sale?
The Phoenix Metro area has made just about every Top Ten Foreclosure List out there...yes, the media is quick to point out how tough things are in the Valley of the Sun when it comes to real estate. The way the news media makes it sound, there are rows of "FORECLOSURE" signs lining every street in town. But there's the … [Read more...] about Why Can’t I Buy A Bank-Owned Property in Phoenix?
Phoenix is well known for its beautiful weather. Here in the Valley of the Sun, we enjoy beautiful, sunny days all year long. Sure summer in Phoenix is hot, but how bad is it REALLY? Check out my video for five FAQs to take the fear out of surviving summer in the Valley of the Sun. Here are some fun facts about our hot … [Read more...] about Five FAQs About Phoenix Summers
Recent increases in mortgage interest rates have some people in a panic. Check out this article in the LA Times . Some of the readers comments are clearly indicating that many believe we are all doomed as mortgage interest rates rise above 5%. I say, let's do a little reality check before we start talking gloom and … [Read more...] about Interest Rates Soar? Come on!
Good News! The Feds have decided that it is OK to borrow the money you will receive from you $8,000 First Time Homebuyer Tax Credit so you can apply that money towards the purchase of your home. There are special, short term loans available so you can borrow the money - for a small fee, of course - and apply the money toward … [Read more...] about Good News About the First Time Homebuyer’s Tax Credit…With a Catch
Recent changes in the Making Home Affordable program address problems with short sales and offer a streamlined approach that will help distressed homeowners who cannot qualify for a loan modification avoid foreclosure. Check out the details here. I personally share the opinion of many Realtors that short sales suck … [Read more...] about Will HAMP Changes to Short Sales Help or Hinder Future Transactions?
One of my favorite lenders, Brian Yampolsky of Orion Mortgage, posted a very informative video about some big changes in the way real estate appraisals are being managed. Appraisals are always required if you are financing your real estate purchase, so these changes will affect the majority of real estate transactions in the … [Read more...] about Appraisal Changes May Affect Your Next Real Estate Deal
With inventories of bank-owned properties shrinking, some buyers are taking a new look at short sales. A recent conversation with a representative at a bank regarding the slowing pace of short sales provided some insight into the process and why it is taking so long for some banks to get these deals approved. … [Read more...] about Phoenix Area Short Sales are on the Rise…and Bogging Down
A professional home inspector should be one of the first people you call when your offer to purchase a home has been accepted. A home inspector will go over your home with a fine tooth comb and provide a detailed report on the condition of the home. He will check the condition of your roof, your AC unit, your electrical and … [Read more...] about When Should You Get A Home Inspection? Always!
Queen Creek real estate is HOT right now, with great deals to be had. But you need to be ready for a lot of competition as inventory levels have dwindled and homes are selling in a matter of days. It takes a little extra effort to land one of the great deals in Queen Creek, but it is worth it. If you are looking to maximize … [Read more...] about What’s Happening in Queen Creek?