I recently celebrated my friend’s birthday at a fabulous hidden gem of a restaurant. Postino now has 2 locations, the newest being at 5144 Central Ave in downtown Phoenix.  The other location is 3939 E Campbell Ave  in the Arcadia area.
I had never been to Postino and we had such a great time enjoying their Monday and Tuesday After 8 Special which is $20 for a bottle of wine and Bruschetta.  The Bruschetta comes in amazing variety and you can mix and match 4 of your choice. 3 of us shared 2 boards of Bruschetta and it was more than enough.  My personal favorite; the Bruschetta with Dates, Pistachios and Ricotta Cheese…Delicious especially when paired with a bottle of Rick Shaw Pinot Noir.
I recommend it for your next Girls Night Out!!

Check out Postino locations and menu here

Earlier this year the FHA loan limits forMaricopa County were at $346,250, but unfortunately it was  reverted back to the pre-2008 limit of $271,050 on October 1^st. At that time after October 1^st, the buying power of a home was significantly decreased for FHA loans.

The loan decrease of $271, 050 appeared to be a temporary adjustment.  Today, the word is out and it’s confirmed. The loan limit for FHA is now back to $346,250, as it was agreed upon in 2008! This is effective on or after November 18, 2011, and will last through 2013.  For those looking for FHA financing on a home, you will have more power and more options to search forsingle-family real estate in places like Scottsdale, Phoenix and the Valley Metro Area!

I will set you up with a lender who will assist you in obtaining that loan! Once you get that pre-approval, then I will assist you in your search for real estate! Here are the additional homes to choose from, listed after at least a 3.5% down payment on a FHA loan of $346,250.

Scottsdale Real Estate:

Showing properties 1 – 10 of 180. See more city of Scottsdale real estate.
(all data current as of 12/10/2011)

1. $310,000 : 5537 E Voltaire Avenue, Scottsdale
   
   4 beds, 4.00 baths

   Home size: 2,360 sq ft

   Lot size: 37,937 sq ft

   

2. $290,000 : 15746 N 104th Street, Scottsdale
   
   3 beds, 2.00 baths

   Home size: 1,817 sq ft

   Lot size: 5,524 sq ft

   

3. $339,900 : 5928 E Corrine Drive, Scottsdale
   
   4 beds, 3.00 baths

   Home size: 2,472 sq ft

   Lot size: 14,308 sq ft

   

4. $289,500 : 8344 E Clarendon Avenue, Scottsdale
   
   3 beds, 2.00 baths

   Home size: 2,032 sq ft

   Lot size: 6,854 sq ft

   

5. $309,000 : 13358 N 88th Place, Scottsdale
   
   3 beds, 2.50 baths

   Home size: 2,190 sq ft

   Lot size: 9,097 sq ft

   

6. $349,000 : 5814 E Lewis Avenue, Scottsdale
   
   4 beds, 3.00 baths

   Home size: 2,253 sq ft

   Lot size: 25,185 sq ft

   

7. $283,300 : 5817 E Waltann Lane, Scottsdale
   
   4 beds, 2.00 baths

   Home size: 2,278 sq ft

   Lot size: 15,297 sq ft

   

8. $299,000 : 7724 E Valley View Road, Scottsdale
   
   3 beds, 2.00 baths

   Lot size: 17,500 sq ft

   

9. $340,000 : 16603 E Morning Vista Lane, Scottsdale
   
   3 beds, 3.00 baths

   Home size: 2,780 sq ft

   Lot size: 4.77 ac

   

10. $326,000 : 6025 E Old West Way, Scottsdale
    
    4 beds, 2.50 baths

    Home size: 3,661 sq ft

    Lot size: 9,670 sq ft

    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Phoenix Real Estate:

Showing properties 1 – 10 of 298. See more city of Phoenix real estate.
(all data current as of 12/10/2011)

1. $344,900 : 3443 E Turney Avenue, Phoenix
   
   3 beds, 2.00 baths

   Home size: 2,121 sq ft

   Lot size: 6,290 sq ft

   

2. $299,000 : 40410 N Blaze Trail, Phoenix
   
   4 beds, 2.50 baths

   Home size: 2,805 sq ft

   Lot size: 10,602 sq ft

   

3. $329,900 : 26009 N 41st Way, Unit 0, Phoenix
   
   4 beds, 3.00 baths

   Home size: 2,731 sq ft

   Lot size: 6,394 sq ft

   

4. $299,000 : 7718 N 7th Avenue, Phoenix
   
   4 beds, 1.75 baths

   Home size: 2,800 sq ft

   Lot size: 16,710 sq ft

   

5. $349,000 : 16060 S 27th Place, Phoenix
   
   4 beds, 3.00 baths

   Home size: 2,915 sq ft

   Lot size: 8,529 sq ft

   

6. $310,000 : 5131 W Sweet Iron Pass, Phoenix
   
   6 beds, 3.50 baths

   Home size: 4,070 sq ft

   Lot size: 6,900 sq ft

   

7. $325,000 : 1540 E San Miguel Avenue, Phoenix
   
   3 beds, 2.00 baths

   Home size: 1,961 sq ft

   Lot size: 14,784 sq ft

   

8. $314,900 : 2830 W Glenn Drive, Phoenix
   
   4 beds, 5.00 baths

   Home size: 3,259 sq ft

   Lot size: 1.06 ac

   

9. $310,000 : 5335 N 32nd Place, Phoenix
   
   3 beds, 2.50 baths

   Home size: 1,556 sq ft

   Lot size: 8,925 sq ft

   

10. $285,575 : 44044 N 50th Lane, Phoenix
    
    3 beds, 2.50 baths

    Home size: 2,668 sq ft

    Lot size: 11,319 sq ft

    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Fountain Hills Real Estate:

Showing properties 1 – 10 of 30. See more city of Fountain Hills real estate.
(all data current as of 12/10/2011)

1. $320,000 : 15152 E Palomino Boulevard, Fountain Hills
   
   4 beds, 2.50 baths

   Home size: 2,458 sq ft

   Lot size: 10,049 sq ft

   

2. $349,900 : 11214 N Teller Drive, Fountain Hills
   
   3 beds, 2.00 baths

   Home size: 2,175 sq ft

   Lot size: 17,394 sq ft

   

3. $292,000 : 15018 N Brockway Lane, Fountain Hills
   
   3 beds, 2.00 baths

   Home size: 2,173 sq ft

   Lot size: 17,969 sq ft

   

4. $350,000 : 10275 N Nicklaus Drive, Fountain Hills
   
   3 beds, 3.00 baths

   Home size: 2,532 sq ft

   Lot size: 13,682 sq ft

   

5. $352,928 : 15865 E Eagle Rock Drive, Fountain Hills
   
   4 beds, 2.50 baths

   Home size: 2,590 sq ft

   Lot size: 1.03 ac

   

6. $349,000 : 12415 N Via De Penasco –, Fountain Hills
   
   3 beds, 2.00 baths

   Home size: 2,063 sq ft

   Lot size: 6,504 sq ft

   

7. $335,000 : 17104 E Rand Drive, Fountain Hills
   
   3 beds, 3.00 baths

   Home size: 2,145 sq ft

   Lot size: 24,000 sq ft

   

8. $355,000 : 14249 N Westminster Place, Fountain Hills
   
   3 beds, 2.00 baths

   Home size: 2,128 sq ft

   Lot size: 10,968 sq ft

   

9. $300,000 : 17023 E Oro Grande Drive, Fountain Hills
   
   3 beds, 2.00 baths

   Home size: 2,048 sq ft

   Lot size: 17,102 sq ft

   

10. $345,000 : 15262 E Mustang Drive, Fountain Hills
    
    4 beds, 2.50 baths

    Home size: 2,425 sq ft

    Lot size: 10,611 sq ft

    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

My husband joined up for the Movie Club and got a screening pass for the AMC Dine-In Theatre in Phoenix at the Esplanade 14.  So last night was a dinner and a movie night out for us.  It was very nice and such fun to experience an event before it opens to the public.  The Grand Opening is September 7th so mark your calendars and go see a movie!

We went to see the movie “Limitless” and had a great time.  If you have never been to the Esplanade you should make the trip.  Great restauarants and plenty of shopping.  Now you can have dinner and a movie together!  What a great concept.  I love to go to the movies and usually my husband and I make it a date night and plan a dinner out as well.  We decide up front if we want to eat first or after but sometimes we find our selves running late and have to hurry our dinner for fear of missing the beginning of our show.  This solved all of that!  The theatre had a well thought out menu with appetizers, sandwhiches, salads and dinner entrees.  Even some delectable desserts, and even though I wanted to – I chose not to have one.   Next time I will, the Chocolate Loving Spooncake looked amazing!

We took our 13 year old son and he said it was very cool!  He had the Chicken Alfredo, said it was thumbs up, my husband had the Smoked Brisket Quesadillas and ate all of it and I had a Mushroom and Baby Swiss Burger with Fries.  Cooked perfectly!  Our server Richard did a great job and was very attentive.  However, if you need anything during the movie you can push a red button next to your chair and your server will come right out to you.  Nice!

The theatre has two types of experiences.

One is the FORK and SCREEN that offers:

• Delicious food and cocktails
• Upgraded seates in a big -screen theatre
• Reserved seating
• Seat-side servie
• Guests are over the age of 18 or accompanied by an adult

and the other is CINEMA SUITES

• Upscale theatre with an enhanced menu
• Individual luxury recliners in an intimate environment
• Reserved seating
• Seat-side service
• First-class amenities such as a gourmet popcorn sample and more
• Guests are 21 and over

AMC web site

There is also a cocktail lounge MACGUFFINS so you can meet friends before the show or swing by after to mingle.

Check it out – Grand Opening is September 7th go and enjoy yourself!  We did!

Jami

Jami Andrews, Realtor °- ABR, AHWD, GRI, SFR

In case you didn’t know……….if you are looking for an friendly, experienced real estate agent please give me a call!  I can help you will all of your real estate needs, even if you would just like some info on our market, prices and trends I would be more than happy to send you the latest updates.  I can also assist with any rental needs that  you may have.  If you know of anyone that could us my services please pass my name on.  Jami Andrews 623-341-5084  JAndrews3@cox.net web address www.JustSoldAZ.com

Thank you and have a wonderful day!

Clear clutter away from rooms, clutter make the rooms look smaller and of course the buyer will think that the rooms are small too. The kitchen counters should be clutter free also.  furniture that is not used put in storage.   Move your furniture around in your home, sometimes the dining room become the office.   Potential buyers need to see each room has a purpose.

Rent furniture or accessories to fill in empty spaces.  Most furniture will show wear  and tear you may want to rent some newer looking furniture, you can also rent accent pieces like vase, dishes and more.

About the program:

America’s Home Buyer Solution Gift Program is designed to provide eligible homebuyers a gift of up to 2.5% of the sales price to be applied towards the FHA down payment and/or allowable closing costs for the purchase of a home.

Targeted towards quality affordable housing, approved homebuyers can purchase a home for as little as 1% down payment. The program also allows for the remaining 1% down payment to be gifted from any FHA allowable source.

The program is offered exclusevely through The Lending Company, a Direct Endorsed US Housing and urban Development lender. There is no requirement for the gift to ever be repaid. It is offered in concert with an IRS approved 501(c)(3) non-profit organization.

This is not a seller-paid down-payment assistance program and the seller is not required to participate.

Program Benefits:

• The program provides up to a 2.5% gift to FHA qualified home buyers
• Remaining down payment is as low as 1% (as above, if market conditions allow, down payment from borrower may be as low as 1/2%)
• Seller can and is encouraged to contrbute towards the closing costs to further assist the homebuyer
• Income requirements match USDA Income Guides
• Competitive interest rates
• Flexible FHA approval guidelines
• Not limited to first-time homebuyers
• Standard FHA appraisal
• Owner Occupied purchase only
• 1 units allowed
• FHA approved condominiums allowed
• Loan limits match FHA guidelines for each county
• Minimum credit score of 640
• Successful credit restoration allowed
• Automated AUS/DU approve/eligible determination required
• FHA qualified Non-occupant co-borrower/co-signer allowed
• No prepayment penalties
• Must complete approved Home Buyer Counseling Course
• Must meet income guidelines for approval
  Call Jeff Thomas (602-610-4030 jthomas@thelendingco.com) with the Lending Company to see if you qualify for this great program, and then callTheBrooksteamaz.com to find your “Dream Home”.
  Stephen W. Brooks
  623-202-3833
  www.thebrooksteamaz.com
  https://www.facebook.com/pages/The-Brooks-Team-AZ-Realtors/178283375540777

On average, 21.2% of single family homes have received at least one Notice of Trustee Sale (the bank is letting you know that you have an auction date) since the beginning of 2006.  !!!!!

On average, 12.6% of the single family homes in Maricopa County have been foreclosed (ie the bank took them back) with a recorded Trustee Deed since the beginning of 2006.  That’s just over one in eight homes.  !!!!!  NOTE:  there are some 1,300 or so unrecorded Trustee Deeds as of December 22.

So where in the Valley has this foreclosure percentage been highest?  Here are the top 10 zip codes with the highest foreclosure rates:

1-85043 Phoenix

2-85353 Tolleson

3-85037 Phoenix

4-85335 El Mirage

5-85354 Tonopah

6-85326 Buckeye

7-85323 Avondale

8-85033 Phoenix

9-85379 Surprise

10-85031 Phoenix

All of these are in the West Valley; in fact, it isn’t until #24 that you find a property not in the West Valley (it’s in S. Phx).    There’s also evidence that foreclosure prevention attempts are not successful in these areas (or maybe not attempted?).

We see that the two types of areas least affected by foreclosures are those containing higher end homes and the 55+ communities. In many of the luxury home areas there is evidence reflecting a higher success rate in avoiding foreclosure, most frequently through a short sale (or maybe more aggressively or consistently pursued?).

It almost goes without saying that foreclosures have a direct effect on home pricing. Hence the ZIP Codes with the most foreclosures are usually those where home prices have fallen the most, while those with lesser foreclosures have fallen the least. However, the relationship is not exact.

Sun City West 85375 has the greatest preservation of $/SF across the whole valley. But then it also has had the lowest percentage of foreclosures. Again looking for anomalies we see that Chandler 85286 and 85249, Gilbert 85233 and Mesa 85205 have preserved their pricing better than would be expected based on their foreclosure rates.

We can also see that many parts of the Southeast Valley, particularly Tempe, Ahwatukee and South Chandler have preserved their pricing much better than Maricopa County as a whole. This is also true of most of the Northeast Valley.

It is true that foreclosures cause home prices to fall, but it is a vicious cycle since it is also true that falling home prices cause foreclosures – they cause more homes to go underwater and their owners to feel less motivated to maintain their loan payments.

What does this mean to you? It depends from what angle you’re looking.  If you’re looking to short sell, we should look at the trends in your neighborhood and act accordingly.  If you’re looking to buy, ‘a deal’ isn’t necessarily found in a neighborhood with high foreclosures.  A deal is a good price on a home you love in a neighborhood you’re excited about.

Please contact me to discuss your specific situation and needs.