Clients…my recent ones have been as great as I have ever had…and I have had many great ones! Dogs…one of my clients, here from out of town, fosters Dalmatians. I have a Dalmatian mix that is part of the family…so that was fun to talk about. (here is a picture of Andy sleeping with my niece!)  Lockboxes…why do some agents make it so hard to get into show their listings???

I have been out with a few different clients showing homes over the last several days. It has almost become comical. I have had REALLY BAD lockbox mojo.

Well…really it is not bad mojo. Sometimes, it is noted in MLS that there is indeed a  lockbox on the home…and there is none at all. Or there is a “contractor’s box” which requires a combination to gain access. Why is this an issue?? I NEED A CODE! I see the “agent notes” to text or e-mail for the code. I do. Mostly I get a reply…but often I do not. Or they call me hours or even days later. So I can not show the home. I have found this scenario is typically only specific to lender owned , or REO, listings.

OK. I understand that it has become an issue for some agents because their fellow agents just give their clients the code so they can look at the house without the agent being there. I know… this is wrong. Wrong in a number of ways. So…what is the solution? I propose our “industry standard”. Electronic lockboxes.

I do not normally list REO properties. So I am not familiar with all of  the contracts the listing agents agree to with their clients, the banks. Maybe the banks are insisting that they install the combo boxes rather than our more secure SUPRA lockboxes. I do not know why they would do that…but maybe.

I just had a situation with an REO agent that went like this. The agent showing instructions indicted the home had a combination lockbox available and provided the access code. When I met my client at the property there was no lockbox. I called the listing agent and was informed that the lockbox had been replaced a number of times as “agents keep stealing them”. Well, I had to suggest that they install an electronic box as it seemed like such an obvious solution to me! I was told that they have over 100 listings and that would be expensive. It seems to me that it would be a business expense that would be well worth it. (plus…if they have 100+ listings they should be able to afford the more secure lockboxes one would think)

I guess what I am saying is that when I am taking my clients time…and mine…to show homes…it would be nice to easily gain access.

Anyway…I have been lucky to have clients that are understanding. I am blessed! 

Yes, only $500.00 to move into a brand New Home! And it’s not a dinger either. This 1605 sqft home is loaded with upgrades. Upgrades like granite counter-tops. Tile floors in the kitchen, baths and utility rooms. The blinds are already installed. And get this…the home comes All Appliances. A beautiful Side by Side Refer, Built-in Range, Dishwasher and Microwave. And get this..a Washer and dryer!! The home comes with blinds too. This 3bed/2bth single level home is ready and waiting for you.  How much? Just $139,990. Remember, you can move in for $500.00

Snowbirds, why rent a space year after year? You can own a brand new home. Buy now while they are priced so low. These prices and incentives will not last. First Time Buyers, close on this home before April 30th and you may qualify for the $8,000 tax credit. Put your tax return to work for you.

Contact Michael Manning at 602-738-8236 for more info. My e-mail is michaelbmanning@cox.net or michael.manning@phoenixpowersearch.com

 See a video of this home.

http://picasaweb.google.com/lh/sredir?uname=judy.eldc&target=ALBUM&id=5431123299653348625&authkey=Gv1sRgCPHRxYTd6PPITQ&feat=email

No kidding. I know a builder who is competing with short sales and foreclosures and winning. You can get in for $500.00 with a PITI payment of only $903.87 per month, including HOA! A 1321 sqft single level home will cost $129,990. a 1767  sqft home only $137,900.  These  new homes are not dingers either. They are energy efficient, using Low E-Windows, 13 seer A/C units, Water-saving Plumbing Fixtures and Tile Roofs. 9′ ceilings, cultured marble vanity-tops, and raised panel interior doors are some of the upgrades included. Great kitchens include microwaves, deluxe dishwashers, spacious pantries and oak cabinets.

You get a large pool-sized lot, a covered patio, a door into the garage from the side, front and rear hose bibs. All the options you might want are already included. I only mentioned some of them.

Oh, did I mention that they come with a Side by Side Refer, Washer/Dryer and a 40″ LCD TV?

So, $5,000.00 in incentives, An $8,000.  tax credit, Side by Side Refer, Washer/Dryer and a new Big Screen TV. Low move-in (less the rent) and low monthly payment, again less the rent. What are you waiting for? Homes ready to move into now.

Michael Manning

EXP Realty, LLC

602-738-8236

Order your home inspection immediately. Per the contract there is a specific number of day inspection period which begins on the date the purchase offer is accepted. You and your agent will have pre-determined the inspection period and listed it in the purchase offer. I can give you the name of two different inspections companies that I have dealt with in the past.

HouseMaster 480-345-8570

Ecospec Home Inspections 602-332-7132

Home inspection companies will generally do an overview of the home. Making sure things work such as appliances, toilets, hot water heaters, fixtures, HVAC units etc. They are not specialty contractors.If you wish to have specialty inspections performed such as roofing, pool, lead based paint, radon gas etc. you will need to contact a specialty inspection company and/or a specialty contractor to have these types of inspections performed. Again remember to make arrangements for these inspections immediately following your offer being accepted and that they have been completed within your inspection period. I have an additional list of contractors and inspectors that I can provide you with if you wish, feel free to contact me anytime.

Contact your lender if the transaction is being financed and let them know that you have an accepted offer. Your agent will be sending them a copy of the executed contract. Also provide your lender with your homeowners insurance agents contact info. ( I have included several numbers below of agents I have used in the past.)  Make sure your lender has all the documentation they need to complete your loan such as paystubs, tax returns, financial statements etc.

Contact your homeowner’s insurance agent and inform them that you have an accepted offer and that you will be in need of a homeowner’s insurance policy to be effective by the close of escrow date.

Ken Stephens Allstate 480-948-8817

Toni Allen Farmers 602.324.4668

Be on the look out for information from the title company. They will be sending you a packet to get some information from you. It will also determine how you will take title to the property. Additionally they will include wiring instructions for any funds that need to be brought in at close of escrow. Certified funds are also acceptable.

You will also want to contact the local utility companies about ten days to two weeks prior to close of escrow and make arrangements for the utilities to be turned on and/or transferred into your name.

Salt River Project Electric       602-236-1889

Arizona Public Service            https://www.aps.com/customer/ratewizard/start.asp

Southwest Gas                        877-862-6020

City of Phoenix Water            602-262-6251

Please contact me with any questions or comments:

Tim Broderick

602-741-0862

Happy New Year!  Now what?

Is one of your resolutions to be a homeowner?  Whether you are a first timer, down-sizer, moving upper or empty nester…you get the idea… it’s time to get moving!  As a buyer, this may be the perfect time.

What is a Buyer’s Market with a Seller’s Twist?

Home prices are at an unbelievable low and with inventory high, this can be a great opportunity for a buyer.  This makes for a great Buyer’s Market.

Currently, of the homes that are sold, about 60% are foreclosures.  This means that the seller is most likely a bank, and has probably hired a company to represent them such as a property asset management company.

There is good news and bad news with buying a home that is bank owned.  The good news is you could possibly get a great deal with listing prices many times lower than market value.

Here’s the Seller’s Twist:  The bad news is that you MAY have competition and most likely, there will be a Seller’s Addendum that will be added to the contract and you the buyer will have to accept in order for the seller to accept your offer.  And, believe me, if you as the buyer won’t accept the Seller’s Addendum, there is probably a buyer behind you that will.  The most important thing is to know what the terms are, have your Realtor guide you through the process and minimize your risk as much as possible.

I believe that there are two main reasons the banks are pricing these properties so well.  One, banks are not in the business to hold property.  Due to this reason, they need to get these types of assets off of their books so they can loan funds.  Two, a home that is priced well should get more attention.  This most likely means multiple offers and what seller WOULDN’T like to choose the best, most qualified buyer at the best price for their property.

Currently, the most aggressive price point are homes under $200,000.  As the home price increases, there may be competition, but usually not as much.  So see, this is great news…but be ready to jump when you find a home that meets your needs.  Why?  You don’t want to deal with multiple offers, if you can help it.  You want to have the ball in your court as much as possible.  Of course, it’s like playing poker.  You don’t want the seller to see your hand.  Make sure your Realtor plays your hand to your advantage.

Three strategies to buying in today’s market:

1.  Find a great Realtor, one who is available, answers the phone, has great communication, proficient negotiator, knowledgeable, motivated, honest, integrity, hard-working, reliable and most importantly knows they work for YOU!

2.  Have your Realtor do an in-depth profile on what YOU are looking for and create an automatic search where you receive automatic emails.  When a home comes on the  market that meets your needs or a new price reduction has been made to your price comfortability level, you will be the first to know.

3.  Be ready to move!  Follow your Realtor’s advice on being prepared.  If you are looking at homes, you should have your finances  ready…whether that’s talking to a loan officer and getting prequalified or if you are paying cash, having proof of the funds and verifying the availability.

And remember, statistically, when spring rolls around, that time is considered the best time for a seller.  Although currently, it is still considered a buyer’s market, there most likely will be more competition as we move toward spring….ESPECIALLY with the April 30th deadline for the First Time Home Buyer Tax Credit (not just limited to First Time Home Buyers).

If you haven’t found the perfect Realtor for you, contact me!  Customer service is my #1 goal!

Testimonials can be provided upon request.

Jamie Sistek – “That Tickled Pink Girl”
REALTOR

Website: www.tickledpinkhomes.com

Jamie@TickledPinkHomes.com
480-451-1400 – Direct
480-734-1971 – Cell

“Tickled Pink Is What You’ll be;
My Customer Service Is The Key”

There have been many rumors flying around regarding the expected adjustments to the FHA loans provided. Do you want to use FHA financing due to the lower down payment requirements, experiencing some credit issues and or wanting to ask the seller to contribute up to 6% concession? If you are and are counting on utilizing FHA loan products for the purchase of your new home, but aren’t quite ready to get off the fence…You may want to re-think your current position.
Per a recent article in the Chicago Tribune –
FHA-insured mortgages have become the loan of choice — realistically, the only option available since the private mortgage industry’s problems arose — for consumers who are eager to purchase a home but don’t have a significant down payment or stellar credit history. Currently, borrowers have to make at least a 3.5 percent down payment and have a minimum FICO credit score of 500, but most participating lenders require borrowers to have a score of 620 or higher.
Those lending requirements have meant a banner year for the FHA. It has insured almost 30 percent of home purchases — more than 75 percent of which are to first-time homebuyers — and 20 percent of mortgage refinancings. Just three years ago, the FHA’s share of the mortgage market was 3 percent.
Among the steps outlined by Housing and Urban Development Secretary Shaun Donovan in congressional testimony Wednesday were plans to increase the down payment and FICO score required. The agency also may ask Congress for permission to increase either the upfront mortgage insurance premium, the monthly premium or both. Details of the plan are expected next month.
“We have made the decision to exercise our authority to increase the upfront cash that a borrower has to bring to the table in an FHA-backed loan — to make sure that FHA borrowers have more ’skin in the game’ and a stronger equity position in their loans,” Donovan said in written testimony submitted to the House Financial Services Committee.
One detail Donovan did provide is that sellers would be able to help buyers with only 3 percent, rather than the current 6 percent, of “concessions” that help fund closing and loan-related fees.
The moves are part of a plan by the FHA to lessen risks to its portfolio; an independent actuarial study found the agency’s insurance fund reserves have fallen far below the congressionally mandated minimum. The agency also plans to take steps to increase FHA capital and to hold lenders more accountable for the quality of loans they write.
This may be the time to get off the fence..
Please feel free to contact me with any questions you may have. I will be happy to assist you in the purchase of your new home. I can be reached at Julie@phoenixpowersearch.com or 480 628 2967
I look forward to hearing from you!
Chicago Tribune Article

Are you in the market to purchase a house?  Do you want to go look at houses, but don’t want to prove that you are qualified to buy what you want?  I have experienced a lot of buyers wanting me to show them houses, but are unwilling to speak to a lender or show me a bank letter stating they are pre qualified.

Buyers should always be pre qualified before heading out to look at houses.  If you are a serious buyer, why would you want to go out and waste your time looking at houses that you don’t even pre qualify for?

I have worked for some car shows in the past and before they even let buyers register they have to provide, a bank letter of guaranty stating they can purchase the car they want, a valid ID, proof of insurance and much more before they are even allowed in the door.

Now why don’t we as Realtors expect our buyers to prove they are pre qualified?  Why do we spend hours with clients, and expect them to know the process of buying a house?

I remember purchasing my first home.  I lived in DC and I was so tired of renting so I headed out to buy my first home. The way I found my Realtor was driving up and down streets looking for an office.  Once I found the office, I spoke to a Realtor who got a copy of my drivers license, called a lender and made sure I was pre qualified before even walking out the door with me.  It didn’t make sense then, but it does now.  She took the time to make sure I wasn’t wasting my or her time.  Now how can I be mad at that?

I am a Realtor making a living selling homes, not showing homes.  I am looking for serious buyers, just as you are looking for a serious Realtor.

Contact me so we can work together in getting the job done.

Rachel Anderson 480-309-7968

So you want a community that suites your lifestyle, but doesn’t restrict you in any way.  You want to live in a community where other people are your age and have the same interests…

A list of events fill their calendar at Dolce Vita, so you will never find yourself with nothing to do.  Amenities include: 33,000 sq ft clubhouse, including a beautiful ballroom, book filled library, workout facility, craft room with kiln, billiards room, card room, computer center, and movie theatre.

It is located at the base of the superstition mountains,  beautiful views and a well planned community await you.

Everyone is looking for a bargain at rock bottom prices!  We are, I believe at the bottom of the market and there are tons of deals out there.  I had an out-of-town client looking for a single family-detached residence between $75-$100K, 1800 square feet with a pool, maybe just a bit of fix up and not too far out of town.  The pictures in the MLS looked good and the client was excited when he got here thinking he was going to pick up a real steal!  The day before arriving, he gave me a list of 45 properties.  Knowing what was ahead of me, I starting checking the MLS.  The list was reduced to 25 properties, because 20 of them had Pending offers or were considered Active With Contingencies (AWC).  With properties going so fast and having multiple offers, I called on the remaining 25 which further reduced my list to down to 6.  Out of these final properties that we were able to see and after driving around the entire Valley of the Sun for 8 hours listening to the client tell me how much he loved Arizona and how great it is here (and I agree!), he realized that getting that great bargain for under $100K with a pool was not going to be as easy as he thought and some of those properties were not what he had in mind.  He inevitably increased his ceiling and had a whole new perspective!  Stephanie.Weiss@PhoenixPowerSearch.com (480) 273.7472