Buy or Sell Homes in South East Valley of Arizona

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The Great “As Is” Debate » December 2012 When you are entering into a contract to buy a home and you are told that the home is being sold ‘AS IS’…what goes through your mind?   Some think of the old movie “Money Pit”.   In some cases you wouldn’t be completely wrong.   Now lately in some cases here in Arizona sellers are choosing to sell their home with this addendum attached.   So what rights are you giving up if you agree to “As Is”; And I quote from the link above; The buyer waives the seller warranties pursuant to Section 5a of the residential contract. Therefore, the seller has no obligation to make any repairs to ensure that heating, cooling, mechanical, plumbing, and electrical systems (including swimming pool and/or spa, motors, filter systems, cleaning systems, and heaters, if any), free-standing range/oven, and built-in appliances are in working condition at the earlier of possession or close of escrow. However, the seller is obligated to maintain and repair the

6 Ways to Get a Great  Mortgage Deal By Ismat Sarah Mangla  Finding an affordable house is no longer a problem but qualifying for a mortgage can be. Six tips to getting a mortgage and a good rate. Put your credit on ice. The higher  your credit score , the lower your rate: The best rates go to those with a 760 or more, says credit-score expert John Ulzheimer. Read more, click  HERE! To read the entire newsletter, click HERE!

 Here is the Market Report for the period ending October 2012.  For a more thorough understanding of how the market is shifting and how this affects you, please give me a call and we can discuss it in more detail. Closed Sales Report Analysis: (click on any graph for larger image)   Sellers: October did not follow the trends of the prior two years where we saw the number of closed sales drop Instead, October saw a 7.4% increase over the prior month. The statistics show that we had 6,232 residential homes sell in the month of October in Maricopa County. It will be important to watch this trend over the next few months to see if there is a continuous shift in trends compared to the prior years. Buyers: For buyers, this means that competition for homes remains even higher, as more homes sell and are no longer an option for buyers. We continue to see homes sell well above list price AND cash buyers continue to have an edge where there are bidding wars, especially when

Once our military men and women come home and try to become a part of society they have a lot of challenges and this group is determined to help with housing, vocational studies and all of the other things that seem to challange these great men and women who served our country in one of the hardest times to do so!!     I want to get the word out to let them know there IS help and each and every one of us Americans appreciate all you did for us!!   Click on the article to read more… http://www.dsnews.com/articles/hed-veterans-find-assistance-with-national-organization-2012-11-12

Come early Fall, many people in the U.S. wonder when exactly that old phrase "Fall back, Spring forward" will come in handy for daylight savings. In 2012, Daylight Saving Time, as it is formally called, ends on Sunday.  Fall back! Daylight Saving Time for 2012 will end on Sunday, Nov. 4, when clocks will be set back at 2 a.m. in the United States.       Daylight Saving Time for 2012 is coming to an end this weekend on Sunday, Nov. 4, when clocks will be set back at 2a.m. giving us an extra hour of sleep.   On Sunday at 2a.m., you'll move clocks back one hour and gain 60 minutes of extra time, sleep or partying that morning. However, if you go to bed early, it is recommended to set clocks back an hour before, to ensure the proper time when you wake up. Some electronic devices, like smartphones, automatically change to daylight saving time, so no need to set those iPhones back. However, many U.S. states do not observe daylight saving time, like Arizona, Hawaii

Phoenix, Arizona foreclosure activity falls again By Kristena Hansen Foreclosure activity throughout metro Phoenix and Arizona continued tumbling this summer at a rate that far outpaced the nation, according to the latest report released Tuesday by  CoreLogic.  Metro Phoenix’s foreclosure rate, meaning the percentage of all outstanding residential mortgages in a particular area that are in some stage of the foreclosure process, in July was 2.18 percent. Read more, click HERE! Read entire newsletter, click HERE!

Here is the Top Ten Things You Need to know about the New 3.8% Real Estate Sales Tax When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax. The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll NEVER pay this tax at the time that you purchase a home or other investment property. You’ll NEVER pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income. If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your tota

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The National Housing Market Continues to Improve Mortgage rates have reached record lows, making home ownership more affordable than ever before. Americans considering buying a home should feel secure about investing in real estate; the housing market is continuing to improve. July saw an increase in both the number of homes sold and the number of contracts signed. The number of total existing home sales rose to a seasonally adjusted annual rate of 4.47 million, a growth of 2.3 percent from June's total of 4.37 million. The Pending Home Sales Index―which reflects the number of contracts signed―also increased in July, reaching levels well above those reported last year. July's index of 101.7 is 2.4 percent above June's figures and a full 12.4 percent above July 2011's figures, when the index topped 90.5. The index has fluctuated month to month, but there have been year-over-year gains reported for the past 15

The National Housing Market Continues to Improve Mortgage rates have reached record lows, making home ownership more affordable than ever before. Americans considering buying a home should feel secure about investing in real estate; the housing market is continuing to improve. July saw an increase in both the number of homes sold and the number of contracts signed. The number of total existing home sales rose to a seasonally adjusted annual rate of 4.47... Read More Home Decor Evolution: Trends to Try for an Instant Update

NAR: existing home sales in July rise As most economists predicted, the National Association of Realtors’ existing home sales report for July improved, as monthly sales rose in every region but the West, which the NAR points out is due primarily to “very tight” inventory. Nationally, sales of existing homes rose 2.3 percent to a seasonally adjusted annual rate of 4.47 million in July from 4.37 million in June, and are up 10.4 percent over July 2011, “even with constraints of affordable inventory,” the association noted in a statement. Learn more, click  HERE! For full newsletter click HERE

The American dream is home ownership, to have a place to call your own.  Now more than ever since 2005 have folks turned to the builders to get their new home.  As prices for resale homes climb in the Arizona market, folks are looking for other means to buy in a community already established!  Here are some stats on one city in particular, Gilbert Arizona--the new home permits issued 1,896 since the beginning of the year. This trumps last year total of 1,545 for the total year!  You can read in more detail about this by following this link;  http://www.msnbc.msn.com/id/48885000#.UEWNUESSVMo Now for the 5 things to watch out for when considering a new home; *Be aware that in order to have someone to represent you in the transaction, you shouldn't just walk in to a showroom.  Always have an agent you choose to represent you with you- at least for the first time...that is a good practice so the agent you know looking out for your best interests will be on your side during

Well we right now we have what I am calling the perfect storm.   Interest rates are still at an all-time low, prices on homes are again low (it is cheaper to buy than to rent a home right now) and on top of all of that banks are offering assistance with closing cost.   How can you go wrong?    Folks that have been holding on for dear life to their home, they are now in a position to sell and finally not have to compete with short sales or foreclosed property.   Yes, they are still here—but 58% of all homes sold in the past 3 months have been regular sales…Music to our ears!!    With the Debt forgiveness act ready to expire at the end of the year—if you think you need to sell for less than you owe, now could be a GREAT time to do so.   This act allows you to sell your property for less than owed, and the difference is not taxable.   Will they extend this act?   Hard to say but I do know if they don’t you will be liable to the tax on the difference based on what your tax bracket i

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Here is the Market Report for the period ending June 2012. For a more thorough understanding of how the market is shifting and how this affects you, please give me a call and we can discuss it in more detail. To view entire report, click HERE!

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The city of Mesa is so amazing, there is something for everyone! Are you looking for a great dinner? Got it...Looking for a challenging golf course?   Got it…Looking for romance?   Got it…Looking for adventure?   Got it…   Well you get the idea.   If you haven’t visited, you should.   If you have been thinking of moving here- you need to check this place out!!   There are so many things to fill up your days and nights, the only way you could be board is if you choose to be!      Between the festivals, the art fairs, and don’t forget you have the light rail going right through Mesa, so even if you’re not into what is going on in Mesa that day- you can be in Downtown Phoenix within about 15-25 minutes…for all the things a big city has to offer.    Here is a guide to some of the awesome sights and sound that Mesa has to offer! http://www.visitmesa.com/vguide/?vgID=10   If you are thinking of buying in Mesa, I would love to have a chance to earn your business…I have been

Here is the Market Report for the period ending May 2012. Prices are the highest they have been in 3.5 years, inventory continues to fall, and homes are selling faster than ever. For a more thorough understanding of how the market is shifting and how this affects you, please give me a call and we can discuss it in more detail. To view entire report, click HERE!

Well, anyone in Real Estate can tell you May was a very busy month in real estate!  everyone has their theory as to why, but all in all, bottom line- "it is a good time to buy a home in Arizona".   With prices still low, interest rates at an amazing low rates and some great programs out there to help folks buy a home.  Not to mention it is cheaper to buy a home than it is to rent one?  Why not!  So this is to call all of the folks that have been sitting on the fence, thinking you will wait until things hit "bottom".  Folks Bottom was in our market about September/October of last year...you don't want to wait any longer, as prices are just starting to crawling upwards! Here is a link you might find interesting; http://www.dsnews.com/articles/lps-april-2012-home-price-highlights-2012-06-22 If you know someone who might be looking to buy or better yet sell a home- as our inventory is historiclly low, call or email me and let me know and I will do my best to

Real Estate Outlook: Green Construction Predicted to Grow By Carla Hill According to the latest McGraw-Hill construction SmartMarket Report the share of green homes on the market is expected to grow by leaps and bounds in the next four years. To read more, click HERE To read the newsletter in it's entirety, click HERE

Well, perhaps you I have been hit up for answers to questions about the "Real Estate Tax" or sometimes referred to by the "Health Care Bill" Hopefully you can see my intent. This is not a political blog, so no matter if you are on one side or the other- this is just some clean facts.  I found a few good sorces to help clear up some myths and how this tax should work.  First one is the National Association of Realtors put out a brochure; Brochure for 3.8% tax     Secondly, on the REALTOR website I found this very informative  page; http://www.realtor.org/small_business_health_coverage.nsf   Well my friends, I hope that helps clear the fog a bit on a very important subject!  Remember, if you have any questions, please let me know...I am always just a call or email away!! Take care, Elaine Beery

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Here is the Market Report for the period ending April 2012. Prices are up and inventory continues to fall. For a more thorough understanding of how the market is shifting and how this affects you, please give me a call and we can talk about it. (click image to enlarge) For the full Market Report, click HERE

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Here is great news for the communities that have homes that are in disrepair.  Three nonprofits are working together toward an effort to rehabilitate vacant REO properties and support home ownership. Rebuilding Together , NeighborWorks America , and the National Community Stabilization Trust are committing to a three-year partnership to turn vacant and dilapidated properties into affordable homes in the communities they serve. They will be gathering data, training and educating in the first phase, the second phase will be acquiring properties and rehabilitating them, then will come the listing and selling of these properties...all in a 3 year time span. The non-profits will have different ways to do this at their disposal, based on the needs of the community. Rebuilding Together is a nonprofit working to preserve affordable home ownership and revitalize neighborhoods by providing extensive rehabilitation and modification services to those in need at no cost to those served. N

Here is the Market Report for the period ending March 2012. Prices are up and inventory continues to fall. For a more thorough understanding of how the market is shifting and how this affects you, please give me a call and we can talk about it. For the full report, click HERE!

Smaller homes, urban lifestyles attractive to new homebuyers Smaller homes closer to urban areas may be the next wave of new construction, as post-bubble buyers seek smaller mortgage payments and shortened commutes. To read more, click HERE Buying cheaper than renting in nearly 100 major U.S. markets: Trulia By Justin T. Hilley Buying is more affordable than renting in 98 out of the nation's 100 largest metropolitan areas — even in New York, Los Angeles and Boston, according to real estate company Trulia 's rent vs. buy index. To read more, click HERE To read the entire Newsletter, click HERE!

Here is the Market Report for the period ending February 2012. The Market has, and continues to shift, yet again. You can see this by the Distressed Property comparison below, and by the other statistics that are presented in this report. For a more thorough understanding of how the market is shifting, and how this affects you, please give me a call and we can talk about it. Distressed Sales Analysis: This month I am including 2 Distressed Property charts. We include one every month, but I wanted to provide a comparison of our current distressed property status, with where we were a year ago. What a huge shift we have seen in the market over the past year. Foreclosures have dropped from 47% of the Sales to 23%, and Traditional Sales (non-distressed) have gone from just 32% of the Market to 49%. As we get further on in this report, you will see how this dramatic shift has affected all segments of the market, including price, and listings. To view entire report, click HER

Signs of upturn in Phoenix's long-suffering housing market By Julie Schmit, USA TODAY The Phoenix housing market is showing signs of improvement, even generating bidding wars among buyers for lower-priced homes. To read more, click HERE -------------------------------------------------------------------------------- Home Repair: Which Jobs Come First? By Josh Garskof Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance. To read more, click HERE To view entire Newsletter, click HERE . --------------------------------------------------------------------------------

Here are 10 things the Internal Revenue Service says you should know about mortgage debt forgiveness: 1. Normally, when a lender forgives a debt -- that is, relieves the borrower from having to pay it back -- the amount of the debt is taxable income to the borrower. Thus, a homeowner who had $100,000 in mortgage debt forgiven through a short sale would have to pay income tax on that $100,000, as an example.Fortunately, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude from your taxable income up to $2 million of debt forgiven on your principal residence from 2007 through 2012. This means you don't have to pay income tax on the forgiven debt. 2. The limit is $1 million for a married person filing a separate return. 3. You may exclude from your taxable income debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure. 4. To qualify, the debt must have been used to buy, build or substantially improve your p

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Here is the Market Report for the end of January, 2012. January was a very interesting month as you will see in the following charts and dialogue. Besides the distressed property analysis that we always talk about, the report centers on the Average Sales Price of homes, New Listings entering the market, and the total number of Active Listings on the market. We are going to talk about how these three metrics are changing, how they inter-relate, and what to be on the lookout for. The average sales price for January is the highest we have seen since August. This reflects an ongoing significant decrease in the number of homes on the market →fewer homes to choose from →more competition for those homes →higher prices. At the same time that prices are rising due to decreasing inventory, January marked the highest number of new listings to the hit the market since August. It will be interesting to watch how these somewhat conflicting metrics resolve themselves. Finally, I included a c