Buy or Sell Homes in South East Valley of Arizona

  Now if you know me, I am not one to cry the sky is falling, but I can see a troubling trend that I feel must be said.  **This blog is a bit long- but hopefully will make you think.**  Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up. There is so much construction that you see all over the valley, but a majority of it is multifamily housing, not single-family homes. So, is that a good thing, or a bad thing?   Well depend on where you are at in your life, and your needs the answer varies. Starting out in life, a condo is better than an apt, because you are building equity and not paying someone else mortgage.   But as you get married, and your family grows, you may want to trade that urban condo in for a single-family home, so you kids can play in the backyard and you have more space.   I f your kids have al...

You’re ready to make some changes to your home, but you want to be smart with your money and see a positive return on your investment. While most homeowners don’t see that return until they sell their home, you can start seeing the benefits now through conserving energy by making your home green. So in honor of the upcoming green holiday, stop searching for that pot of gold. Get inspired by St. Patrick’s Day to go green to cut your energy costs with the environmentally friendly renovations below. You’ll soon see the savings building up at the end of the rainbow. ·   Use Reclaimed Wood For Flooring Instead of chopping down more green for your floors, reclaim wood that’s already been cut. While prices vary depending on the type of wood and how it was transformed, you can get a unique look and conversational piece that no one else will have. Just think, you could be standing on the Jackson’s old barn or a dismantled ship. ·   Green Your Latrine Install a low-flow...

Fannie Mae and Freddie Mac have been in the news quite a bit over the past few years, so it’s a good time to do a refresher on who they are and what role they play in the real estate market. Who Are Fannie Mae And Freddie Mac? Fannie Mae is the Federal National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation. They were originally created to raise homeownership levels and increase the availability of affordable housing. Fannie and Freddie don’t sell mortgages directly to homeowners. They buy mortgages from lenders, so the lenders can use the money to issue new home mortgages. In 2008, due to mismanagement resulting in billions of dollars of losses, Fannie and Freddie were taken over by the government. How Do Fannie And Freddie Impact Real Estate? •             They contributed to the financial crisis and real estate downturn, by loosening underwriting standards, buying and guarantee...

The National Association of Homebuilders/Wells Fargo Housing Market Index dropped two points to 55 from September’s revised reading of 57. Builder concerns over labor costs and availability and economic uncertainty related to the federal government shutdown were noted as factors contributing to the lower reading for October.  Key Points Noted In October ‘ s HMI included : Builder confidence remains above 50, which indicates that more builders have a positive outlook on housing market conditions than those with negative sentiment. The October HMI cites pent-up buyer demand in markets throughout the US as a positive influence on October’s reading. A spike in mortgage rates lowered builder confidence, but the Federal Reserve’s decision not to change its quantitative easing program eased fears about rapidly rising mortgage rates. The federal government shutdown, along with builder and consumer concerns about the national ...

These 4 Tips for buying bank owned properties, things you  should know before deciding to look at them.   We all have seen the enormous influx of bank owned properties, but do you know the down side of buying a bank owned property? There are Risks involved, but you can minimize these risks just by doing some due diligence. 1.) When signing the bank addendum, (a document the banks add on to the actual contract) make sure you realize what type of deed you are going to receive.   If it is not a General Warranty Deed, make sure you are getting the home and you fully protected with the most title insurance you can.   Most banks will issue you a Special warranty Deed, in Arizona.   If this is the case, you should look into extending your insurance policy to cover any gaps.    2.) Because the bank acquired the property through foreclosure, the bank will not be able to provide you with the (SPDS)Seller's Disclosure or the (CLUE Report) Insurance discl...

Well, the summer is just about here and not to sound too cliché...but our housing market is getting hot especially with our HUD Properties. Here are 3 things buyer's need to   know about buying   HUD properties; 1.)     HUD uses a blind bidding system, and the original list price is the price HUD determined is the market value by an appraisal, so if you want to get a loan for this property, you can't offer more than that price, as the lender's will not give you any more money that that price.   Doesn't mean you can't offer more but just be prepared to come out of pocket with the amount over.   [i.e. list price $100,000, you offer $104,000 you will be coming to the closing table with your closing costs and $4,000 + your regular down payment of 3.5% for FHA (owner occupant) or 10-20% for conventional].   2.)     HUD gives owner occupants a 10 day time period at the beginning of each listing, so they are not having to bid ...

Keep trying as I may to be positive, the facts are we have gone from 18-22 months of inventory on the MLS to about 3-6 months of inventory in about 1-1/2 years…so when folks ask me, “do you think the market is  still declining?” I would have to say ‘NO’ not in the South East Valley of Arizona. Have I seen prices rise? No not enough to make a significant difference. But in some cases, there are multiply offer and the folks are out bidding each other. Especially in the $120,000 price point and lower.  So, I would say, now is the time to be looking and buying…with the interest rates and the prices as they are, I would say this could be called the ‘Perfect Storm’. If you are interested in finding more out, please call or email me. If you want to start your search feel free to go on my website and do so…I would love to hear from you if you find a home or condo you are interested in. So we can get you on your path to own it! Elaine Beery 480-570-1912 Beeryrealty@gma...