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

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

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn’t owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000. The newly purchased property must become the buyer’s primary residence. It can not be used for “vacation” homes.

Please do not hesitate to contact me with any questions you may have. I am here to help. I can be reached at 480 628 2967 or julie@phoenixpowersearch.com. I look forward to being of service.

http://www.google.com/hostednews/ap/article/ALeqM5hJJraNRE6DjWj2orF7SYJ12PADEAD9BPISHG0

Contact Michael Manning  602-738-8236

michael.manning@phoenixpowersearch.com

HomeSmart BuyerTours Team

Having worked for new home builders in the area I have a few reasons why and I will start with my own personal new home. Our final walk through went fine. Everything was beautiful. When I set my office up and the electrical outlet that I plugged my computer into did not work I thought, no problem, I have a year warranty. I called the builder and sure enough, they came right out. The hip, (slant) of the roof was no longer accessible from the attic to repair the outlet. The builder said most likely a nail went through the wire. They could fix it but it would require cutting through the drywall until they found the site to repair. An inconvenience to say the least. I just wanted my office unpacked and get back to work! 3 months later I found a termite tube on the exterior of the home which caused me to look further, which I found another tube under the bathroom sink. Yes my home was brand new and under warranty however your home is labeled henceforth at the State of Arizona Office of Pest Management. (OPM).  A health department history of homes if you will.  http://www.sb.state.az.us/  The website is very helpful. Go to the consumer resources and they have everything from pest advisories to termite re-ocurrence or search an address for a home you are considering to purchase to find the history. Yes my address is there. It is the home’s reputation and the more you know the better off you are to make that decision to sign on the dotted line. After all it is usually the biggest investment people make!

Attics: No one likes to take the time or effort to stay there long enough to thoroughly inspect the attic. Common problems are broken trusses, crimped duct work which reduces the line for the heating and cooling to pass through and can even cause extra wear and tear on the heating and a/c unit, disconnected a/c & heating ducts, roof leaks, lack of, or no insulation at all. Since the attic insulation is one on the very last things to go into a new home it is not uncommon to be forgotten. One buyer went through an entire summer without insulation and had excessive utility bills before it was noticed. The builder did get the contractor out and blew in insulation but it was not a pretty sight. The mess from the hose being dragged through the home to the attic access not to mention the insulation droppings that fell around the room and on the clothes in the closet as well. Weather stripping, poor installation and lack of it is another big oversight of some new home builders. It also contributes to loss of heating and cooling and another avenue for bugs to enter your home.

Electrical: As I mentioned earlier my personal story.

Foundation: Lack of a seal. The wood is bolted directly to the concrete and unless it is sealed properly it is another way for bugs to enter your home. I cannot say enough about a post-tension foundation. I feel it is superb. Some new home builders will use a stem-wall and some use a post-tension. It is my understanding that Post-tension foundations are more expensive. Typically a 7” frame up with the Foundation Boards. Then they place metal cables in a checker board pattern that extends out the sides. There is then an inspection prior to pouring the concrete. After a specific cure time of the concrete they come out and pull on the cables to around 30,000 psi (per square inch) then it sits and they return to assure that the psi has held. The cables are cut off at the surrounding slab of concrete and are patched. The other foundation builders use is a stem-wall which the concrete is bolted to the earth and because of earth movement and expansive soil in AZ, cracks in the foundation can occur. It is another avenue for bugs to enter your home. My personal story I had a stem-wall foundation which I believe is the reason I had termites 3 months after I moved in to my new home. Ugh!

Post Tension Foundation

When should the inspector inspect?  I say at the frame completion prior to the walls being closed up and at completion. I also recommend doing your research on the inspection company that you hire!

If you are considering a new home purchase or having one built, I would be happy to help you through the entire process from home-site selection to what you really need to pay attention to at your walk through. I can share more information with you on the various areas that could be important to you.  It goes without saying a list of professionals for you to consider is available as well. Having achieved my lifetime achievement award selling over $52 million in new homes in a period of under 5 years I know what I am talking about. Judy Manning 480-518-0722 cell judy.manning@phoenixpowersearch.com

Looking for a Resort Setting? This 55+ active adult community is it. Located in Del Webb’s Sun City Anthem in the East Valley, this community boasts features and amenities found in some of Arizona’s finest resorts. Amenities such as a The Famous Poston Butte 18 Hole Championship Golf Course. This is a Troon managed golf course. When you buy a home here, you get a discount at Any Troon Golf Course! The fees are very reasonable for full-time residents and snow birds alike.  Check out this link. http://www.postonbuttegc.com/ for more info.

Golf not your thing? Not to worry. There is so much more to do here. The 43,000 sqft. community center/rec room is filled with everything from a world class work-out room featuring top of the line equipment to a heated indoor pool. The perimeter of this pool is an cushioned walking path. Wow!   There is a beautiful outdoor pool and spa as well. Other amenities include :

1. Biking/walking paths
2. Tennis/Raquetball/Pickleball/Handball and Basketball courts.
3. There is an outdoor Amphitheater where you can hear concerts or see outdoor movies under the stars.

Inside the center there is a beautiful ball room for dancing the night away. Also in this ballroom is a large pull down screen where you can play Wii Bowling while sipping wine on Wii and Wine night. What fun!

For the dog lovers, there is a large outdoor area where you can bring your pooch and visit with other owners while your dog socializes.

For you fishermen there is a stocked catch and release lake.

And it’s not all about the outdoor activities either! Feed your mind at The Lifelong Learning Academy or learn to cook like a gourmet chef . There is a beautiful kitchen set up and classes to attend. One of the very popular areas is the arts and craft room. You can learn to do ceramics and pottery. They have kiln and a throwing wheel. Many of the finished crafts are for sale at very reasonable prices. We talked with one resident who said she had always wanted to do this and now she can.

There are quality resale homes available for sale now. Homes on the golf course, and homes with casitas. Or you can have one built in as little as 4mos. Have it your way! www.newhomesource.com/communitydetail/builder-45/commun… www.newhomesource.com/communitydetail/builder-45/community-24505

I live just minutes from this fabulous community. Let me  take you home!

Michael Manning  602-738-8236 or 480-882-2727

HomeSmart BuyerTours Team

michael.manning@phoenixpowersearch.com

michaelbmanning@cox.net

michael.manning@scottsdaleparadise.com

If you would like a relocation packet or require more information, please contact me at any of the above numbers or e-mail addys.

I can send you a 20 minute video, showing even more detail.

You don’t have to spend like a millionaire to live like one!

There is no PMI (private mortgage insurance) and you won’t need an appraisal. As appraisals have been coming in low, that may be a big deal. Sellers can contribute $$ towards closing costs. The amount is determined by how much you put down.

The only disadvantage I can see is the interest rates are higher then the average 30 year conventional loans. But you still have the option of buying the interest rate down.

Here is a link to to Homepath homes and the program. www.homepath.com

It’s a great program any way you look at it!

Michael Manning

HomeSmart BuyerTours Team

480-882-2727

602-738-8236

To qualify for the program your income cannot exceed $75,000.00 per year for a single person or $150,000.00 per year combined income for a married couple. If one partner has owned a home with-in the past 3 years, you will not qualify. Vacation homes and investment properties do qualify, as well, as long as you meet the above requirements.

So get off that fence! It is now The Time To Buy that First Home!

Michael Manning

HomeSmart BuyerTours Team

480-882-2727

602-738-8236                                                                                                                   

First of all, when sending a wire transfer, even if in US Dollars, the wire will often times come in about $15 to $50 LESS than what you wired!  This is because both reserves may apply a fee when transferring the money, unbeknownst to you.  It is always a good idea to send a little more, just in case.  Title companies will refund whatever is left over, we promise!

Also, when depositing a Canadian check…if the check does not reference directly on the face of the check a US Bank, the check may be returned by the bank.  As well, if the check does not state the words “US Dollars” on the face of the check, it may deposit as Canadian funds, making your escrow short somewhere between $400 and $600!!  It is always best, in my opinion, to wire, even if those fees are withdrawn by the reserves.  That way you know immediately what the deposit is.  Whereas, a check may take sometimes several weeks to physically deposit.  This could cause a delay if the title company is unable to verify whether or not it will deposit as US dollars or Canadian dollars.

When delivering items over-night to Canada, plan on the delivery taking a minimum of two deliver days.  There are many “rural” areas in Canada where that delivery may take even longer.  Particularly if there is a loan, it is very important to ensure that the documents are sent out in plenty of time.  For Example:

Loan documents come in at 3pm, making it TOO LATE for the title company to prepare a HUD, have the lender approve it, and get a package out FedEx.  Now the package leaves the next day…Friday.  It doesn’t arrive until Tuesday because of the weekend.  The buyer signs very timely, but the package does not leave Canada until Wednesday and is delivered back to the title company on Friday.  Documents arrived at title Thursday a WEEK AGO!  AND, now the documents have to be sent over-night to a lender, arriving there on Monday.  The lender then takes 48 hours to review documents and funding takes place Wednesday, 9 business days from the day the documents arrived at escrow…Wow!  It is VERY important to communicate both with your escrow officer and your loan officer from the very beginning.

One last thing…I have learned that Canadian Credit Reports are not as readily available as credit reports are here in the US.  They can sometimes take two or three weeks to obtain.  This will have Quite an Affect on your loan approval time.  If your lender needs a Canadian credit report,  ask that they order it even if you don’t have an offer on a house yet.  That way if they need an update, they can order it at the time the offer is put in, and have it in time to draw docs.

When there is a loan involved, you may want to plan on that minimum 45 day escrow.

When there is no loan, allow the full 10 business days for the HOA (Home Owners Association) to respond to title, and from there docs go out…two days there…one day out…two days back.  So about 2 ½ weeks, maybe less, if the HOA is timely.

This has been a limited over view of items to take into consideration when planning on buying a home in Arizona. If you have any additional questions please give me a call. For additional information on homes available in the Phoenix and Scottsdale Metro Area please call:

Tim Broderick @ 602-741-0862 or toll free @ 888-481-4447 ext. 126.

You can also reach me by email: tim@phoenixpowersearch.com.

This incredibly beautiful community features a fitness center, tennis court, 2 heated pools, a spa, bocce ball and a billards room. The 9,000 sqft center even has it’s own library! There is an activties director to keep things moving.

But it’s Golf that reigns supreme here! Check out this link to see why. http://www.gcgr.com/dino.htm

This community is home to javelinas, deer, cougar & bobcats. Nature abounds. The sunrise over the mountains will thrill you. You will see just about every cactus that lives in Arizona.

For those who want to feel as though they are vacation every time they wake up to those incredible views, have their coffee while listening to nature going on all around them, then contemplate the great golf game they have lined up for the day, MountainBrook Village in Gold Canyon, AZ cannot be beat.

Many snowbirds from Canada, Minnesota, Michigan, Ohio and our other cold northern states still come here and rent a home. But with historic home affordability right now, why rent? You can own a piece of paradise. Contact me for a video.

Michael Manning                                                                                                          

HomeSmart BuyerTours Team

602-738-8236

michael.manning@phoenixpowersearch.com