Over the past several years, the game and the rules of buying real estate have significantly changed. Today, the affordability and the ability of buying real estate in places like Scottsdale, Phoenix and throughout the Phoenix Valley Metro Area have changed. Unfortunately, the practices of lending have changed due to the significance of high foreclosures and short sales. They result the major losses in property values. Of course, the regulations have changed. Yet, the buyer is looking get the most of his or her purchasing value. Yes, the opportunities are there. When you are in the buying mode, you need to avoid significant mistakes.

Here are seven most common mistakes you need to avoid in buying real estate:

• Holding onto your home before buying real estate:

You must sell your home first! In this current market it may take longer to sell a home than you expect.  The one thing is, the lending process these days are strict, and there’s the possibility the loan could fall through because the buyer did not qualify to buy your home. Carrying that second mortgage is a major responsibility while you attempt to sell your sell your current home.

• Not addressing your Credit Score before buying real estate:

Lending practices and credit markets are tighter than ever these days. If you are looking for a lower interest rate, or most likely, getting a loan, you must have excellent credit score. If you have poor credit score, like a 580 score, then there maybe additional help for you. You can check your score at no additional costs.

• Skip the prequalification and pre-approval process before looking for real estate:

Not getting prequalified is a mistake of which you could be looking at homes well beyond your loan approval budget. Getting the preapproval will set you in a position to narrow your search based on your needs and the location you can afford. Plus, it’s a time saver for you and me as your buyer’s agent. Talk to a trusted lender and get pre-approved.

• Not knowing when to stay and when to walk away:

Yes, buyers have more power than ever in the negotiating process. Don’t fear to make a lower offer. Don’t be afraid to make a mistake of walking away because of a few thousands of dollars. Think of this way. A few thousands of dollars could translate to less than $100 a month on the mortgage. Not much money at all.

• Not knowing the total costs involved in buying real estate:

Many buyers, especially first time buyers need to know and understand the costs associated in buying a home. They include closing costs, title insurance, and lawyer fees as well as ongoing costs such as property taxes, homeowner association dues, utilities, and yard maintenance. Ask me or a mortgage representative to provide you with an average amount of additional closing costs so that you can work with them in your budget.

• Signing contracts with contingencies in real estate:

This could cost you big bucks if you make this critical mistake. Do not sign a contract allowing sellers stay in the homes for an extended period of time. You do not want to run the risk of losing your interest rate if you allow them to have extentions of staying in the home. If a deal falls through, then you are back to square one to search a home again. Have me explain the contract to you and explain any contingencies that are involved so you get a good understanding of what will occur.

• Not purchasing real estate protection plan:

When you purchase your home, you never know what problems may arise. Get at least a one year protection plan, or these problems will cost you big.

In conclusion of avoiding mistakes in buying real estate:

So buying real estate can be an exciting time of your life, but I want it to keep your anxiety levels down. If you are seeking real estate in Scottsdale, Phoenix, and throughout the Valley Metro Area, check out some of these homes:

Scottsdale (DC Ranch) Real Estate:

Showing properties 1 – 5 of 54. See more Dc Ranch community real estate.
(all data current as of 12/9/2011)

1. $399,000 : 20704 N 90th Place, Unit 1029, Scottsdale
   
   3 beds, 2.50 baths

   Home size: 2,074 sq ft

   Lot size: 2,355 sq ft

   

2. $425,000 : 18650 N Thompson Peak Parkway, Unit 1043, Scottsdale
   
   3 beds, 2.50 baths

   Home size: 2,430 sq ft

   Lot size: 2,375 sq ft

   

3. $799,000 : 9827 E Buteo Drive, Scottsdale
   
   4 beds, 3.50 baths

   Home size: 3,924 sq ft

   Lot size: 10,259 sq ft

   

4. $1,590,000 : 9810 E Thompson Peak Parkway, Unit 814, Scottsdale
   
   3 beds, 4.50 baths

   Home size: 4,600 sq ft

   Lot size: 42,334 sq ft

   

5. $539,000 : 9273 E Canyon View Road, Scottsdale
   
   4 beds, 3.00 baths

   Home size: 2,563 sq ft

   Lot size: 5,513 sq ft

   

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

Scottsdale (Oldtown) Real Estate:

Showing properties 1 – 1 of 1. See more Old Town Scottsdale community real estate.
(all data current as of 12/9/2011)

1. $314,900 : 7770 E Camelback Road, Unit 3, Scottsdale
   
   2 beds, 2.00 baths

   Home size: 2,377 sq ft

   Lot size: 4,404 sq ft

   

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

Phoenix (Desert Ridge) Real Estate:

Showing properties 1 – 5 of 15. See more Desert Ridge community real estate.
(all data current as of 12/9/2011)

1. $413,069 : 23321 N 41st Street, Phoenix
   
   4 beds, 2.50 baths

   Home size: 3,207 sq ft

   Lot size: 11,047 sq ft

   

2. $449,000 : 4018 E Adobe Drive, Phoenix
   
   5 beds, 3.00 baths

   Home size: 3,507 sq ft

   Lot size: 10,405 sq ft

   

3. $195,000 : 5450 E Deer Valley Drive, Unit 1012, Phoenix
   
   2 beds, 2.00 baths

   Home size: 1,246 sq ft

   

4. $369,391 : 4314 E Hashknife Road, Phoenix
   
   3 beds, 2.00 baths

   Home size: 2,306 sq ft

   Lot size: 6,900 sq ft

   

5. $374,790 : 4312 E Knudsen Drive, Phoenix
   
   4 beds, 2.00 baths

   Home size: 2,528 sq ft

   Lot size: 7,261 sq ft

   

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

Phoenix (Biltmore) Real Estate:

Showing properties 1 – 5 of 5. See more Biltmore community real estate.
(all data current as of 12/9/2011)

1. $275,000 : 5747 N 18th Street, Phoenix
   
   3 beds, 2.00 baths

   Home size: 1,527 sq ft

   Lot size: 7,540 sq ft

   

2. $345,000 : 5136 N 31st Place, Unit 647, Phoenix
   
   2 beds, 2.00 baths

   Home size: 1,319 sq ft

   Lot size: 1,315 sq ft

   

3. $494,999 : 2544 E Missouri Avenue, Phoenix
   
   5 beds, 3.00 baths

   Home size: 2,996 sq ft

   Lot size: 8,377 sq ft

   

4. $550,000 : 3125 E Claremont Avenue, Phoenix
   
   3 beds, 3.00 baths

   Home size: 2,879 sq ft

   Lot size: 8,272 sq ft

   

5. $625,000 : 3114 E Claremont Avenue, Phoenix
   
   4 beds, 2.50 baths

   Home size: 2,509 sq ft

   Lot size: 8,133 sq ft

   

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

Cave Creek Real Estate:

Showing properties 1 – 5 of 293. See more city of Cave Creek real estate.
(all data current as of 12/9/2011)

1. $217,500 : 4628 E Roy Rogers Road, Cave Creek
   
   4 beds, 3.00 baths

   Home size: 2,564 sq ft

   Lot size: 6,422 sq ft

   

2. $1,150,000 : 7926 E Grapevine Road, Cave Creek
   
   3 beds, 2.00 baths

   Home size: 3,062 sq ft

   Lot size: 6.83 ac

   

3. $215,000 : 6512 E Windstone Trail, Cave Creek
   
   3 beds, 2.00 baths

   Home size: 1,710 sq ft

   Lot size: 1.16 ac

   

4. $224,900 : 4619 E Laredo Lane, Cave Creek
   
   4 beds, 3.00 baths

   Home size: 2,132 sq ft

   Lot size: 5,625 sq ft

   

5. $224,900 : 4944 E Roberta Drive, Cave Creek
   
   3 beds, 2.50 baths

   Home size: 1,963 sq ft

   Lot size: 5,290 sq ft

   

It was touted as the O Event, Arizona is Rising, held at the Scottsdale Center for the Performing Arts just a couple of days ago…and it was well worth the time.

They had an impressive line up of presenters including:

• Dermot Buffini
• Those Callaways
• Steve Chader
• John Foltz 
• Courtney Klein Johnson 
• Micheal Krein 
• Michael Orr
• Neil Thomson

One of my favorite moments of the afternoon came from Courtney Klein Johnson…whom I was not at all familiar with prior to this event. I did a quick GOOGLE search and found she is quite a young woman. I found an interesting profile here. I am betting there are more accolades not mentioned in this post…but this, in itself, is quite impressive.

Why did I like her? Well…her topic was what agents need to know about working with Gen X and Y clients in the Phoenix, AZ real estate market. And she was SPOT ON.

Since I have started working with eXp Realty…I have learned many of the things she was touting…but I think a GREAT many agents out there still need to embrace what she was trying to convey.

Like…BLOG…these people read them. Like…be on Facebook and let people know something about YOU personally. Like…it’s OK to wear jeans and you do not need to drive a Mercedes. BE REAL. Oh…and DO NOT CALL…they text…and MAYBE e-mail! GREAT job Courtney!

Another interesting presentation came from a panel of folks representing the BIG FOUR…B of A, Chase, Citi and Wells Fargo. They all seemed to have the same message. They are working harder and harder to streamline the short sale process and expect it to carry on for sometime in the future. It is the “new normal” of our market here in Phoenix, AZ.

And, of course, I must mention Mike Orr of the Cromford reports. I have seen many of his presentations and he does a GREAT JOB. He is a mathematician. It is hard to be interesting when you are spouting out numbers…but he manages to do it. AND…for the first time in a long time…HE HAD REALLY GOOD NEWS!  YIPEEEE!!! Even tho short sales are here to stay…our market is moving in a positive direction and prices seem to be stabilizing.

The rest of the presenters were amazing as well…and it was a very “worth it” afternoon. Closing was handled by the well respected and well known John Foltz. I think he has FORGOTTEN more about the Phoenix, AZ real estate market than most of us will ever know! Always a pleasure.

I must also mention the sponsors and vendors. Old Republic Title Agency did an EXCELLENT job with organizing and promoting this event. The vendors were varied and friendly…many handing out chocolate…which I particularly appreciated.

There was one especially unique vendor called Harvest to Home. I love the ides of providing organic vegetable and herb gardens…but I REALLY appreciated their salesman. He was SUPER at talking with the crowd and demonstrating the product. I want to recruit him to be a fellow agent at eXp Realty…in a few years of course….he is a little too young now!

Having said all that…I would REALLY encourage fellow agents to attend this event if they do a repeat next year…but sign up QUICK when you hear about it…as it will fill up FAST!

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 Phoenix Homes For Sale 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.

You hear alot about 100% commission but with all the junk fees you don’t see it. With eXp you get 80/20 Split with the Potential to Earn 100%+.  At eXp you With eXp, “the worlds first fully Immersive web 3.0 Real Estate Company” you get to take your office with you it’s online and is really a office. You haveto always be training to build your business and sometimes you miss the training that you need. All thetraining is recorded and accessible 24/7 to all agents. The state Broker here in Arizona Suzanne Fuqua  is the nicest broker we’ve had the pleasure to work with. She’s always willing to help and is concerned with helping you grow your business like the whole eXp family. The working the magic team will build you a state of the art website and show you how to use SEO to brand yourself as an expert. continue reading > http://thebrooksteamaz.com/?p=5663

Before I tell you how I made an extra $20,300…let me tell you a bit about our AWESOME company.

I am not talking about the ability to upload documents electronically to your office. I am not talking about webinars or teleconferencing. I am not even talking about virtual meetings as most people know it. I am talking about a VIRTUAL office. REALLY!

Unless you have experienced this type of environment it is hard to explain. We really DO meet in cyberspace. Face to face and in real time. Moving from office to office. Holding classes and meetings in conference rooms or theater type seating (or maybe in our vitrual Cafe). Here is a picture of one of our Monday morning meetings called XCamp.

Each of those “avatars” is actually a person sitting in on a session. I do not remember what the subject was…maybe blogging, maybe info on a new social media site, or maybe a short sale round table discussion. Or it might have been a guest speaker from somewhere around the country. Whatever it was…I was sitting in and learning from my home office…with my dogs at my feet…(maybe still in my jammies). Or…wait…maybe that was the day I had my laptop outside by the pool enjoying a cup of tea and watching the hummingbirds while sitting in and absorbing great information.

And that is just the TIP of the training opportunities…From the bi-weekly New Agent Orientation to the popular Monday Morning XCamp the eXp Training Calendar has it all. The Calendar can always be found here. AND almost all training and classes are recorded…so if you miss something you wanted to see…just head over to eXp University at your leisure…and you can play the session. COOL!

OK…so how has all of this helped me make more money? In addition to all of this great, RELEVANT training…we have SUPER SMART people making sure our company web sites are on page ONE of Google and other search engines for terms like “Phoenix Real Estate” or “Scottsdale Real Estate”. Take a look…I did a search here and our site, scottsdaleparadise.com…comes up number 3 AFTER the paid ads on the top.

Because of this…we generate many leads…and they are given to agents like me! So…by diligently following up with these folks that have registered on our site…I have been able to turn them into actual clients. I have sold homes to folks from Washington DC, Rhode Island and Kentucky so far this year. I would have NEVER had the opportunity to help these people if I had not been connected to them through eXp’s web site. And due to this I have earned $16,872.00.(BTW…they have ALL been super great people to work with as well)

AND THERE IS MORE! eXp offers something called Revenue Sharing. If you introduce a fellow agent to eXp and they join our team…YOU get a small percentage of their gross commissions.

When I first joined the company this was NOT something I was real excited about. I guess I just did not “get it”. But I get it now! I have a few people who have joined me at eXp and because of this I have made an additional $3522.38 this year! Not bad huh?

I AM SO EXCITED ABOUT THIS COMPANY. After 20+ years in the business it is almost a given that an agent will begin to burn out. And I was feeling that prior to my joining eXp. But not now! I LOVE MY JOB AGAIN! Yipeeeee!!!

Take a look at this and PLEASE contact me if you are an agent and maybe just a bit curious about what eXp has to offer….

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 For Sale 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.

As part of the agreement between the lender and the seller attempting to short sale their home in Phoenix , AZ, is often something termed an “Arm’s Length Affidavit”.

An arms-length affidavit is a document created by the banks to prevent agreements with relatives or friends to act as a straw buyer. Then, after the transaction closes, the pretend buyers quickly transfer title back to the seller. This practice really means the sellers have repurchased their home for way less than what they owed, which greatly benefits those sellers. But banks say sellers can’t benefit. If they wanted sellers to benefit, they probably would have agreed to a loan modification.

Each bank has different arm’s length verbiage but some of the things it typically address are:

No party to the short sale is a family member, business associate or person who shares a business interest with the seller.
There are no hidden terms or special agreements
Once the transaction closes the sellers shall not be allowed to remain in the home by renting back, and shall not regain title to the home
No parties to the transaction will receive any compensation except for commissions paid to agents.
These are the most common points made in most arm’s length agreements I have seen…however they do vary from bank to bank.

Of these points, I have most often seen agreements where the buyer of a short sale property is an investor and would be happy to rent the property back to the sellers. Depending on the verbiage in the arm’s length affidavit of the specific lender…this could potentially be a violation. The seller typically signs this form indicating they DO NOT intend to rent back the home. AND…the buyer and agents are required to sign this as well. So, as an agent, I do not want to participate in a transaction where I know there is a “side deal” between the principals to rent back. I like my real estate license and intend on keeping it!

IF YOU SIGN AN ARMS LENGTH AFFIDAVIT ON YOUR SHORT SALE AND ARE FOUND TO BE IN VIOLATION YOU COULD BE HELD LIABLE FOR MORTGAGE FRAUD WHICH FALLS UNDER THE JURISDICTION OF THE F.B.I.

Whether you are a buyer, seller or agent…be sure you take this document seriously. As of this writing, I can not find ANY evidence that banks are actually pursing people who have violated this affidavit. BUT…I do not want to be part of a deal that ends up being the test case for the F.B.I. Do 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 For Sale 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.

How about another solution for some of you agents?  There exists a company built exclusively on the premise of utilizing cutting edge technology, cost effectiveness, education and revenue sharing while providing leads, coaching/mentoring and most importantly, Leadership.  This company is:  eXp Realty.

For seasoned Realtors eXp Realty offers the opportunity to build your own Brokerage within a Brokerage.  The sharing of information is open, positive and creative.  All agents are able to communicate utilizing a multitude of mediums, i.e. e-mail, VOIP (voice over internet provider) tele conferencing, instant messaging or even sitting across from one another in a virtual office cafe.  The experience is unparalleled with anything you’ve ever experienced.  (Welcome to the age of technology….Welcome to eXp Realty!)

For new agents eXp Realty has a Mentor program.  When a new agent is brought on board there is someone within the organization who has brought him or her to eXp Realty.  This person is unofficially designated as the Mentor.   But no matter how you slice it, there is always someone who knows more about something than someone.  At eXp Realty there are informative meetings, education classes, message boards, online “how to do it” televideos and much, much more.  The importance of getting a new realtor off to a successful start is the ultimate goal of eXp Realty. 

Find out why agents are making a Smart Move to our Smart Brokerage.  Check This Out!

Did you know eXp Realty is changing the landscape of the Real Estate industry and getting a lot of attention from some of the leading industry publications.  Read More….  

For an invitation to one of our upcoming Xcamp sessions click here.  Make sure to add my name in the notes section (Michael Lopez) so we can meet…..Virtually!

eXp Realty was Founded October 2009, Now in 17 States.  Let me help you bring eXp to your Market….Virtually!

At eXp Realty we have a team of internet techs that help us with anything from SEO to setting up social media accounts. We Call them The Working The Magic team or WTM. They’re an exceptionally gifted team of internet specialist and one of the many benefits of belonging to this cutting edge web 3 based virtual Real Estate Company.

For more information on the WTM team and eXp Realty visit join eXp Realty. We have weekly X-Camps and a monthly roundtable hosted by Brad Andersohn that features a pannel of industry leaders presenting on their eXpertise. The monthly round table if open to the public. You can contact me for time and dates. You can also contact me to get a ticket to visit our virtual offices and attend an X-Camp.

So I was working with the WTM team on my blogs SEO and I posed the question to Kirk Johnson. He asked me if I new about GOOGLE INCOGNITO? I never had heard of it so he walked me through it and I thought I’d share it with you.

Being a FireFox user the first thing he had me do was download the Google Chrome Browser. This was a snap. Kirk had me open Google Chrome and then click the settings wrench in the upper right corner. You have a drop down option to open a “New Google Incognito Browser” which you click on. Here’s what you get:

You’ve gone incognito. Pages you view in this window won’t appear in your browser history or search history, and they won’t leave other traces, like cookies, on your computer after you close the incognito window. Any files you download or bookmarks you create will be preserved, however.

Going incognito doesn’t affect the behavior of other people, servers, or software. Be wary of:

• Websites that collect or share information about you
• Internet service providers or employers that track the pages you visit
• Malicious software that tracks your keystrokes in exchange for free smileys
• Surveillance by secret agents
• People standing behind you

Learn more about incognito browsing.

Because Google Chrome does not control how extensions handle your personal data, all extensions have been disabled for incognito windows. You can reenable them individually in the extensions manager.

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.