So, how do they determine what they think market value of the short sale is? They do this through something called a BPO. BPO stands for Broker Pricing Opinion. Essentially, the name says it all. A BPO is a pricing opinion or quasi-appraisal completed by a Realtor (sometimes referred to as a broker) for the lender in hopes of gaining additional information on a short sale property. That pricing opinion might include pictures of the home, pictures of the street, detailed description on the amenities, and various other items of importance. At the end of the day, they all include the “I think the property is worth ______” line.

What’s the issue with these BPOs? Well, frankly, there’s a lot. So much, in fact, I am not going to go into detail in this post. I will leave you with this food for thought though. As a lender using this BPO as a basis for calculation (those calculations influencing decisions that could make or break several to ten’s of thousands of dollars) you think they would act a little smarter about the whole thing. Think about it. A BPO is completed for less than $50 in compensation by a random real estate agent who filled out some application. There is no way to tell if said agent is part time or full time, lives nearby or knows the area, or even viewed the home.

And these BPOs are the basis for most of their yay or nay decisions.

Thanks for reading! If you would like to read more of my Phoenix Short Sale articles or Scottsdale Real Estate please visit: http://realestatewizkid.com & http://realscottsdalerealestate.com

Sincerely,

Jeff Buettner

Some good etiquette to follow when visiting a Bark Park:

Don’t bring your dog if its aggressive or in heat.
Be able to control your dog
Vaccines should be current
Clean up after your dog
Offer your dog water
Follow any park rules
Click here for west valley dog parks

Click here for south valley dog parks

Click here for Phoenix dog parks

Click here for Scottsdale,Fountain Hills dog parks

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.

If you do not know…the Willo Historic district is located in the Central Phoenix area. To get a little more information and the history of the community, you can check out this link. If you go to home tour…then View 2010 Willo Home Tour Pictures…you will see pictures of folks checking out this one-of-a-kind FABULOUS home that was featured on that tour.

I helped these special clients purchase this home…and I remember clearly the day we first found this home. We were SO IMPRESSED. We especially loved the sliding glass wall….now you see it…

Now…you don’t!

or…from the outside coming in…now you see it…

now you don’t…

This is just one of the many features of the fabulous home. There is also a guest house that the current homeowners have put a lot of work into…SO NICE! (the guests may never leave!)

PLUS…it has a garage…something not every home in the downtown area can boast. My clients had it built…and IT is even special…(for a garage)!  ;)

There are DOZENS of things to love about this special home. Take a look at the MLS listing and give me a call. I would be proud to show it to you!

As always… if you are looking for a GREAT agent to help with your real estate needs please e-mail me at Adele@GreaterPhoenixHomes.com or give me a call (or text) at 602-504-3898 or 888-897-7821 x 114. Plus, I have a GREAT search tool on my web site that gives you the ability to search the entire MLS…just like agents do. Very COOL!  Go to Metro Phoenix Homes and check it out! YOU can create and save as many searches as you would like…and it is THE SAME SEARCH I DO AS AN AGENT! You will LOVE it!

THIS IS THE BEST MOST ACCURATE SEARCH OF OUR LOCAL MLS

ATTENTION AGENTS…Is your Real Estate Career or Company taking you where you want to go?
Need MORE business?  Need MORE leads?  What has your company done for you lately?
Ask Me Why… I joined eXp Realty.

The market features meats, seafood, supplements and a TON of other organic and natural products.

In a hurry…grab a quick cup of locally roasted coffee or tea at the coffee bar…along with a muffin or bagel. They are wonderful. Have some time? Relax and take advantage of the free wireless internet on the patio.

They also offer cooking class periodically where you can learn about things like high tea…pizza or even vegan and gluten-free cooking.

Luci’s also delivers! AND you can simply order online. Very cool! Take a look at their menu here.

So…if you are looking for a place to purchase organic products for your family…a great cup of coffee…or a fresh lunch or breakfast…check out Luci’s!

As always… if you are looking for a GREAT agent to help with your real estate needs please e-mail me at Adele@GreaterPhoenixHomes.com or give me a call (or text) at 602-504-3898 or 888-897-7821 x 114. Plus, I have a GREAT search tool on my web site that gives you the ability to search the entire MLS…just like agents do. Very COOL!  Go to Metro Phoenix Homes and check it out! YOU can create and save as many searches as you would like…and it is THE SAME SEARCH I DO AS AN AGENT! You will LOVE it!

THIS IS THE BEST MOST ACCURATE SEARCH OF OUR LOCAL MLS

ATTENTION AGENTS…Is your Real Estate Career or Company taking you where you want to go?
Need MORE business?  Need MORE leads?  What has your company done for you lately?
Ask Me Why… I joined eXp Realty.

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

CHARMING GATED COMMUNITY

• Priced at $144,500
• Built in 1982
• MLS #4551647

This move-in ready patio home is in a quiet gated community that is full of character. All it needs is a new owner. Perfect for the first time buyer or seasonal resident. Large living room with fireplace, eat-in kitchen with bay window, split master bedroom, tile in all the right places, newer appliances, vaulted ceiling, and private patio for enjoying our warm winter days. Third bedroom currently used as an office. Refrigerator and washer/dryer stay. Furniture negotiable. Close to shopping, restaurants, transportation.

FEATURES:

• 1322  SQUARE FEET
• 3 BEDROOMS
• 2 BATHROOMS
• LARGE LIVING ROOM
• FIREPLACE
• EAT IN KITCHEN WITH BAY WINDOW
• TILE / CARPET
• NEWER APPLIANCES
• PRIVATE PATIO AND BACKYARD
• WALKING DISTANCE TO SHOPPING AND RESTAURANTS
• GREAT GATED NEIGHBORHOOD

Contact me by email at vicki.botkin@exprealty.com or by phone 480-213-4880 to schedule your showing immediately!

CLICK HERE TO VIEW HOME