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

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.

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

Moira, set in the ground level of a condo development, is located right off McKinley and 3rd Street.  Some metered parking out front and an easy enough walk from the light rail.  The inside decor is modern industrial with an Asian flare.  A long bar down the middle with tables seating two or four on each side.  The perfect happy hour spot.

As far as sushi is concerned… we chose a couple of the specialty rolls.  Our favorite was called the Sun Devil… tuna, crab, tempura shrimp topped off with a slice of jalapeño.  Good enough to order a second before heading to the game.  Not one for sushi?  There is a hot menu and and some yummy salads.  Can’t tell you much about the drink menu because I stuck with a glass of wine but the specialty drinks were plentiful and pleasing to the eye.

Next time you are downtown for an event or a business meeting stop by and check out the happy hour or even the weekend reverse happy hour specials.  The cozy, fun atmosphere is perfect for date night or catching up with friends.  CLICK HERE for the Moira Sushi Bar and Kitchen website were you can find menu and more.

Are you shopping for a new home?  My name is Tiffany Pettit and I am the Peoria, Arizona Real Estate expert.  My husband, Eric, and I live and raise our two boys in this beautiful west Phoenix suburb.  We love everything about our little city and think you will too!  Please contact me anytime at 602-614-6493, toll free at 888-897-7821 x.132 or at tiffany@tiffanypettit.com.  Please check out my website, www.CometoPeoriaAZ.com, where you can perform an MLS search just like an agent would do.  I look forward to assisting you in finding your perfect Peoria, Arizona home!