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

Ahhhh.. It’s around the corner folks… My favorite time of the year in “the valley of the sun” is almost here. Pitchers and catchers will soon report to camp sooner than you know it. The cracks of the bats and the Cactus League will be in full swing, and the 15 teams coming from as far east from Cleveland and far west as Seattle will be in full swing to make their runs for the World Series in Major League Baseball.

Baseball is one of favorite sports, if not, my favorite. The game is unique that require so many strategies and definitely decision making pressures during the most critical time of the year, especially when are still in the playoff hunt or in the World Series. This coming February, I will talk and introduce those communities of where your teams will train this year. Plus, show you a few available homes near the ball parks. As I love the game, I’ll give you realistic brief analysis of where I think your team may stand this year.

Here is the list of where the spring homes are for these following teams:

Camelback Ranch – Glendale:

• Chicago White Sox & Los Angeles Dodgers 

Goodyear Ballpark – Goodyear:

• Cincinnati Reds & Cleveland Indians

Hohokam Park – Mesa:

• Chicago Cubs

Maryvale Baseball Park – Phoenix:

• Milwaukee Brewers

Peoria Sports Complex – Peoria:

• San Diego Padres & Seattle Mariners

Phoenix Municipal Stadium – Phoenix:

• Oakland Athletics 

Scottsdale Stadium – Scottsdale:

• San Francisco Giants

Surprise Stadium – Surprise:

• Kansas City Royals & Texas Rangers

Tempe Diablo Stadium –  Tempe:

• Anaheim Angels

Salt River Fields at Talking Stick – Scottsdale:

• Arizona Diamondbacks & Colorado Rockies

As you prepare your trip to see your teams train this spring, you may want to consider buying real estate as your second home if you are in the valley all through training. Consider me as your real estate concierge for spring training. Here are a few real estate samples to look for in the following three spring training communities:

Giants Fans – Oldtown Scottsdale Real Estate:

Showing properties 1 – 5 of 83. See more 85251 zip code real estate.
(all data current as of 1/10/2012)

1. $160,000 : 3047 N 85th Street, Scottsdale
   
   4 beds, 2.00 baths

   Home size: 2,161 sq ft

   Lot size: 7,734 sq ft

   
2. $179,900 : 3213 N 69th Place, Scottsdale
   
   3 beds, 2.00 baths

   Home size: 1,854 sq ft

   Lot size: 6,601 sq ft

   
3. $375,000 : 4661 N 65th Street, Unit 242, Scottsdale
   
   2 beds, 2.00 baths

   Home size: 1,784 sq ft

   Lot size: 5,000 sq ft

   
4. $245,000 : 4710 N 70th Street, Scottsdale
   
   3 beds, 3.00 baths

   Home size: 2,163 sq ft

   Lot size: 13,888 sq ft

   
5. $169,900 : 8429 E Rosewood Lane, Scottsdale
   
   3 beds, 1.75 baths

   Home size: 1,290 sq ft

   Lot size: 6,663 sq ft

   

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

Cubs Fans –  Mesa Real Estate:

Showing properties 1 – 5 of 500+. See more city of Mesa real estate.
(all data current as of 1/10/2012)

1. $244,000 : 3017 S Willow Wood –, Mesa
   
   2 beds, 2.00 baths

   Home size: 2,143 sq ft

   Lot size: 6,660 sq ft

   
2. $151,000 : 425 W Nopal Avenue, Mesa
   
   4 beds, 3.50 baths

   Home size: 2,707 sq ft

   Lot size: 11,942 sq ft

   
3. $152,000 : 1046 N Ambrosia Street, Mesa
   
   4 beds, 2.00 baths

   Home size: 2,203 sq ft

   Lot size: 9,701 sq ft

   
4. $266,750 : 2106 N Stapley Drive, Mesa
   
   6 beds, 4.00 baths

   Home size: 3,859 sq ft

   Lot size: 14,661 sq ft

   
5. $299,000 : 1727 N 93rd Street, Mesa
   
   3 beds, 3.00 baths

   Home size: 2,395 sq ft

   Lot size: 2.14 ac

   

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

Indians and Reds Fans – Goodyear Real Estate:

Showing properties 1 – 5 of 212. See more 85338 zip code real estate.
(all data current as of 1/10/2012)

1. $171,000 : 2723 N 145th Avenue, Goodyear
   
   3 beds, 2.50 baths

   Home size: 2,595 sq ft

   Lot size: 10,800 sq ft

   
2. $104,500 : 15963 W Gibson Lane, Goodyear
   
   4 beds, 3.00 baths

   Home size: 2,226 sq ft

   Lot size: 7,126 sq ft

   
3. $139,900 : 16750 W Rio Vista Lane, Goodyear
   
   4 beds, 2.50 baths

   Home size: 2,491 sq ft

   Lot size: 6,900 sq ft

   
4. $174,900 : 17553 W Polaris Drive, Goodyear
   
   4 beds, 2.00 baths

   Home size: 2,468 sq ft

   Lot size: 11,224 sq ft

   
5. $104,000 : 17032 W Magnolia Street, Goodyear
   
   3 beds, 2.00 baths

   Home size: 2,097 sq ft

   Lot size: 7,400 sq ft

   

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

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

Fountain Hills, AZ Bank Owned Foreclosed Real Estate 5/15/11

38 Bank Owned Foreclosed Homes available on the Fountain Hills Real Estate Market the week of 5/15/11. This is about 1 more than last week.

The Fountain Hills Bank Owned Foreclosed homes continues to evaporate.

There were close to 40 Foreclosed Bank Owned homes on the Fountain Hills Real Estate Market less than a month ago!

Visit Fountain Hills, AZ Real Estate Bank Owned Foreclosed Homes to view them all.

They range in price from $37,900 for a condo in Fontana to $1,450,000 Luxury Home in FireRock Country Club.

Single Family Home only $225,900

Bedroom(s): 3

Bathroom(s): 2

Square Feet: 1836

Single level territorial style hillside home with closet organizers, pool, spa, Arizona room and beehive fireplace. Access home via beautiful walled private courtyard. Mountain views!The Property is tenant occupied and is being sold subject to the existing lease. Tenant will remain in possession after closing. The Security deposit will be transferred to the buyer by the Sellers Property Manager within 10 days after the closing.The rent will be prorated on the closing statement as of the closing date provided that the current months rent has been received.”

SunRidge Canyon Luxury Golf Home Only $584,900

Bedroom(s): 5

Bathroom(s): 4.5

Square Feet: 3544

Year Built: 1997

HUGE PRICE REDUCTION! **Please contact listing agent for more information on how buyers purchasing a property as Owner Occupants may be eligible to receive 3.5% in closing cost assistance.** Spectacular mountain and golf course views from this premium lot in Sunridge Canyon. Executive finishes throughout with extensive tile, granite counters, upgraded carpet, 4 baths plus a powder rm. Extensive use of large windows make it light and bright and showcase golf and canyon views. Entertainer’s delight with gourmet kitchen island, family room and living room designed to take in full view of mountains and resort landscape. Spacious private yard ideal for large group entertaining. Inviting Pebbletec pool and extensive covered party patio with misting system for summer days and nights.

If you would like a me to preview one of these homes for you contact me. I have most of them on file but if I don’t I’ll photograph the “Good, Bad and the Ugly” so that you can get a real idea of what the home is like. Not just some glamor shots.

I don’t think that Fountain Hills has the “Shadow Inventory” that so much of the Phoenix Metro area supposedly has. There’s no way to know for sure but the Bank Owned Foreclosed Homes has been holding steady between 43 and 49 available on the market at any given time and now we’ve dipped below the 35 for 2 weeks. With Interest rates still low and home prices very low you might consider investing in Real Estate. Gas, Gold, Stocks and Commodities are all at record highs and are continuing to move up. While Real Estate is at record lows and they aren’t making any more of it.

So are you going to Buy High and Sell Low or Buy Low and Sell HIGH?

Fountain Hills, AZ Inventory is now at 4.2 months! 6 Months inventory is considered normal. 4.2 months is considered a SELLERS MARKET!

If you’ve been waiting on the sidelines you might have waited too long.

There are many homes that are not Bank Owned or Foreclosed available that are priced to be competitive with the market. Even though some of these are Short Sales, which remain troublesome, many are people selling because they have to relocate or for other reasons. The only way these homes will sell is to price them at fair market value. So don’t overlook an opportunity to buy just because it’s not a Bank Owned Foreclosed Home.

For a complete list of all the homes available in the Fountain Hills Real Estate Market and the Surrounding Communities of Rio Verde and Goldfield Ranch visit,
Fountain Hills, AZ Real Estate

If your looking for more information on the Town of Fountain Hills, Things to Do, Reviews, Views from Eagle Mountain, Eagle Nest, Sunridge Canyon, Firerock Country Club, Rio Verde, Tonto Verde and Goldfield Ranch be sure to follow my Posts at,
Fountain Hills Information.

http://www.youtube.com/watch?v=u0uRsRwodro
I have all sorts of fun and exciting videos on Fountain Hills at this sight. Including a rare video of Javelina Nursing as close as 1 foot away.

I’ve been a resident of Fountain Hills, AZ since 1973. If your considering buying or selling a home in Fountain Hills it’s important that you have an Agent that knows the community and its resources.

The weather in Fountain Hills continues to marvelous! 60′s in the mornings and mid 90′s in the afternoon. Perfect for a morning or evening walk around the Fountain Park,

If you would like more information on Fountain Hills or the Real Estate Market contact me!

There are many floor plans available, from the 1440 sqft single level to a 2670 sqft two level with a three car garage. All Highland Homes are built with energy savings in mind. I walked into an unfinished home when it was 95 degrees outside and it was about 75 degrees inside. With no air conditioning on, as there was no power. It was because of the Radiant Roof Barrier and 40 R Value insulation. All homes include granite countertops and tile floors as standard amenties. Not upgrades. There is a floorplan and a price to please everyone.

For those of you who are renting, I ask why? I bet you are paying more and getting less. It’s time to buy while the prices are still with-in your reach.

Michael Manning  602-738-8236.        michaelbmanning@cox.net or michael.manning@exprealty.com

Call Michael Manning at 602-738-8236                                                                                                                                                                

EXP Realty, LLC

michaelbmanning@cox.net