Homes for sale in Glendale

If your looking to purchase homes in Glendale Arizona. Better yet any home here in the valley of the sun. The Lending Tree has a loan which gives you 2.5% to help with your purchase if you qualify.

This is on an FHA  loan, so that means you’ll just need to come up with 1%. The FHA limit on single family homes in metropolitan  Phoenix area is $271,050. This means that all you’d need is $2710.50 for your down payment. Let me tell you there are a lot of beautiful you can find out here at this price and lower.

With FHA some lenders go as low as 580 credit score. With VA you can buy with zero down . There are some homes for sale in Glendale, but they move fast.You can find foreclosed homes and get some great deals.

If you want a list of these homes just let us know and we’ll gladly supply for you. Most people(not you) believe that the home prices will get lower. This could be true, but being a licensed realtor that is in the field daily I don’t think so.

Looking for houses

There is a shortage of homes listed in the market for sale. This means that it’s a sellers market again. You missed the boat to purchase  homes in Glendale Arizona and some cities in the valley for 20% below the asking price. If you are looking for  houses like this. Where you can offer this far less then the asking price you need to look at half a  million dollar and up homes.

Even tho it’s a sellers market with the interest rates still at all time lows. The 1% down loan the lending is offering buying a home now is still cheaper than paying rent. You can still have the american dream and become a homeowner. If you need a  house for rent in Glendale AZ. The Brooks Team of AZ can help you with this.

But we would really like to help you become a homeowner. We are in the people helping business and will always do whats best for you the renters, buyers and sellers. We will go the extra mile to make which ever transaction smooth and we’ll keep you informed and updated with the process flow.

Glendale Realtors

If you like horse properties or Luxury listings or just a nice home in a nice area. Looking at  homes in Glendale Arizona should be on your list. With the shopping  on Bell Road and at Arrowhead mall you’ll fall in love with the area.

Most homes in Arrowhead will qualify for the 1% down payment program offered by the Lending Tree. Glendale Arizona real estate has a lot of options to choose from. Darlene(my wife) and I know the area well after being residents for 6 years.

We love the area and are sure you would also.  We would love to here from other Glendale Arizona residents and are always available to sell your home when needed. And also if you’re looking to buy homes in Glendale Arizona give us a call we’ll take good care of you.

Stephen W. Brooks

Realtor

eXp Realty

623-202-3833

steve.brooks@phoenixpowersearch.com

PS: If you want to know more about the 1% loan give us a call

I hear this all the time “what should I offer”, I tell my buyers to offer their highest and best offer if they want to buy a house.  Recently I had a client that saw a house and it had all the things in a new home they wanted and need.  I advised my client that the house had an offer and was at the counter stage of the offer.  I explained to my client that if you to buy this house we need to put an offer in tonight before the  owner counter come back.  Well my buyers wanted to go home and think about the offer never called me back that night.  The next day their dream home was in pending status under contract.  My clients lost out on their dream house, I took them out to view other homes but that dream house was always on their minds.  My client now is hoping the dream house  contract will fall out of contract but this house is a regular sale.   Some good advice for all buyers, if you see a house you like put an offer in immediately, dream homes don’t last long on the market.  When buyers go out with their agents have all your necessary documents ready to go such as your earnest money check and proof of funds.  Signing an offer is made so easy now  for buyers, you don’t have print your offer  just sign them online with esign.  Most realtors want to make your transaction as smooth as possible.  So next time you are out with your realtor and see your dream house, put an offer in right away going home to think about your dream house will cause you to lose out.  If a buyer offer their highest and best offer, you most likely with get your dream house.

wages and weekends. Shining brightly more than 300 days each year.

The warm weather attracts an estimate $5 billion annually to valley economy.

Tourism also draws a steady flow of newcomers looking to settle down in the

Phoenix area.  For every three people come to valley 2 leave.  Nine months

of the year is beautiful spring like weather. The summers are hot reaching over

the 100 degrees but it is all dry heat except during monsoon season. Humidity

is almost none existing except during monsoon season.  Many people during

monsoon season sit watch the lightening in the evening such graphic sight

There are many economic opportunity in Metro Phoenix, many newcomers

are transferred or secured jobs once arriving. Phoenix offer leading private

sector employers including U.S Airway, Chase Bank, Samaritan Health System,

American Express travel related services,and many more. Among the many companies

with corporate or regional headquarters in the valley are Intel Corp, U Haul

International, Phelps Dodge Corp, and Boeing employment draw many newcomers

to the valley.

When the weekend comes many people in Metro Phoenix especially in the summer

time drive up to the lakes and nearby attractions.  There are 5 lakes driving

distant to the Metro Phoenix area.  Phoenix offer water-sking, power boating,

sailing and fishing. If you are not into a lot water sports drive up to the

Grand Canyon to cool off. The valley is a mecca for hikers and campers. Just

pick your mountains, Camelback, Piestewa Peaks, Papago Park which are favorites

due to they are so close to home. You can go horseback riding, hiking, or just

ride your bike. If your are looking for Phoenix real estate agent contact me at

888.897.7821 x 108 so you can I can help you find your new home in  Metro Phoenix.

Stephen W. Brooks

623-202-3833

The typical wait time for purchasing a home after a short sale or foreclosure is 3 years.  However, FHA issued a mortgagee letter in December 2009 allowing financing immediately or in less then 3 years for certain situations… very specific situations.  Although it would be hard to determine who is eligible without looking in to a buyer’s specific situation here are two things I know to be true…

1.  Borrower must have been current on ALL prior mortgage payments for up to 12 months before short sale occurred.

2.  The result of the borrowers short sale must have been due to extenuating circumstances such as transfer of job, death of primary wage earner, long term un-insured illness, ect.  Short selling due to declining market conditions or because you are way to upside down in your loan is not a valid circumstance.

Please watch this video to learn more…

That was my friend and trusted mortgage professional, Gina Chavez and we both really think that this is important information to get out to the public because there is a small population that could benefit from FHA exception rule.  If you are one of the MANY that have to wait out the 3 years, that is okay too.  Three years is probably what you need to get your credit and life prepared for buying again.

If you have been through a short sale and have questions about how it affected your credit or what to do now, the best piece of advice I have for you is to contact a Real Estate Professional that is skilled in this arena.  It is our job to counsel you on the short sale recovery process so that when your three year wait time is up, you will be ready to purchase again.

Gina and I are willing and happy to help you get on the right track to short sale recovery.  Please contact either one of us right away!

Tiffany Pettit, eXp Realty

Cell:  602-614-6493

Email:  tiffany@tiffanypettit.com

www.CometoPeoriaAZ.com

Gina Chavez, Cherry Creek Mortgage

Cell: 602-505-2688

Email: gchavez@ccmclending.com

www.ginachavez.com

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!

On average, 21.2% of single family homes have received at least one Notice of Trustee Sale (the bank is letting you know that you have an auction date) since the beginning of 2006.  !!!!!

On average, 12.6% of the single family homes in Maricopa County have been foreclosed (ie the bank took them back) with a recorded Trustee Deed since the beginning of 2006.  That’s just over one in eight homes.  !!!!!  NOTE:  there are some 1,300 or so unrecorded Trustee Deeds as of December 22.

So where in the Valley has this foreclosure percentage been highest?  Here are the top 10 zip codes with the highest foreclosure rates:

1-85043 Phoenix

2-85353 Tolleson

3-85037 Phoenix

4-85335 El Mirage

5-85354 Tonopah

6-85326 Buckeye

7-85323 Avondale

8-85033 Phoenix

9-85379 Surprise

10-85031 Phoenix

All of these are in the West Valley; in fact, it isn’t until #24 that you find a property not in the West Valley (it’s in S. Phx).    There’s also evidence that foreclosure prevention attempts are not successful in these areas (or maybe not attempted?).

We see that the two types of areas least affected by foreclosures are those containing higher end homes and the 55+ communities. In many of the luxury home areas there is evidence reflecting a higher success rate in avoiding foreclosure, most frequently through a short sale (or maybe more aggressively or consistently pursued?).

It almost goes without saying that foreclosures have a direct effect on home pricing. Hence the ZIP Codes with the most foreclosures are usually those where home prices have fallen the most, while those with lesser foreclosures have fallen the least. However, the relationship is not exact.

Sun City West 85375 has the greatest preservation of $/SF across the whole valley. But then it also has had the lowest percentage of foreclosures. Again looking for anomalies we see that Chandler 85286 and 85249, Gilbert 85233 and Mesa 85205 have preserved their pricing better than would be expected based on their foreclosure rates.

We can also see that many parts of the Southeast Valley, particularly Tempe, Ahwatukee and South Chandler have preserved their pricing much better than Maricopa County as a whole. This is also true of most of the Northeast Valley.

It is true that foreclosures cause home prices to fall, but it is a vicious cycle since it is also true that falling home prices cause foreclosures – they cause more homes to go underwater and their owners to feel less motivated to maintain their loan payments.

What does this mean to you? It depends from what angle you’re looking.  If you’re looking to short sell, we should look at the trends in your neighborhood and act accordingly.  If you’re looking to buy, ‘a deal’ isn’t necessarily found in a neighborhood with high foreclosures.  A deal is a good price on a home you love in a neighborhood you’re excited about.

Please contact me to discuss your specific situation and needs.

“Casting about in MLS data for signs of a market bottom and subsequent recovery has proved elusive over 2009 and 2010,” the report concludes. “The one-step-forward-two-steps-back phenomenon has become all too familiar in our fragile recovery.”

• The PPI predicts that the median sales price of a home in November will be about $120,000, relatively unchanged from October. The median is expected to drop in December to $117,000, rise in January back to $120,000 and then drop once again in February fairly dramatically to $105,000.  The median is the number in the middle, so there are as many houses priced below the median as above the median.
• Average sales prices are projected to rise slightly in December but to fall in both January and February. The estimate is for the average price to be about $161,200 in November and drop to $145,800 in February.
• New inventory declined in October, but total inventory increased.
• October listings represent nearly seven months of supply making this a buyer’s market. A seller’s market is a four to five month supply.
• Pending foreclosures have been trending downward slightly for the past 12 months.
• Distressed sales, short sales and lender owned sales peaked in September representing 74 percent of total transactions. In October distressed sales represented 65 percent of the total.

For guidance on your specific needs, please contact me at 602-741-1325.  Happy holidays!

I will call my “fictional” family the Smith Family. Mr. Smith was out of work for over a year and they fell behind on their mortgage. Mrs. Smith had a good job but did not bring in enough money to cover all of their monthly expenses. When Mr. Smith did find a job he was not making as much money as he was in his prior position. They fell further behind in their mortgage payments.

After trying for a loan modification which did not work out…they called me  hoping to get the home sold on a short sale. If you are not familiar with how the short sale process works please read this blog detailing a short sale. After about ten weeks the bank finally approved the short sale. Sadly, when the buyers were told that they were free to move forward and proceed with the purchase they had changed their minds and decided to NOT move forward. By this time we were up against a foreclosure date within ten days. We tried to procure another buyer but in that short time were unable to do so. The bank would not extend the date without a viable offer and proceeded with the foreclosure.

The Smith’s were understandably upset and very scared. We had already talked about the potential of this very thing happening and had located a suitable rental property. The problem was that the home was occupied and it would be a couple of weeks before the Smiths could take possession.

In this particular situation the investor (actual owner of the home) was FANNIE MAE. The home was purchased at the trustee sale by the bank and they then hired a Realtor to check out the property and see if it was occupied, what condition it appeared to be in…and so on.

So, two days after the foreclosure date the Smiths got a knock on the door from the Realtor. They were asked if they were aware the foreclosure had happened to which they replied they were. They were then asked if they had plans to move. Mr. Smith told the agent that they indeed did have a place to move to but it would not be available for another two weeks.

The agent said that he was authorized to offer them $2090.00 if they would be out within two weeks and leave the property in “broom swept’ condition. They took this to mean that they need to remove all the debris and personal property and sweep the floors.

The day before their two week deadline they were moved and had turned the utilities off. I accompanied them to the meeting with the REO agent as I was interested to see the process. The agent was very nice and sympathetic. He looked over the property and with the exception of a pile of bricks on the side of the house which they had failed to move…he was pleased. They agreed to move the bricks and loaded them up then and there.

While they were doing this I spoke to the agent and asked him a few questions. He explained his experience with FANNIE MAE has been this:

1. He visits the property a day or two after the bank has been through the trustee sale process and has officially foreclosed on the property. He shared with me that MORE THAN 50% of the time, if the owners are still occupying the property, they DO NOT KNOW IT HAS HAPPENED as they were working on a short sale or a loan modification.

2. If the (now former) owners are still in the home he visits with them about their plans and is able to offer them assistance with funds in order to help with moving expenses. This is typically NOT given to them at this time. He sets up the expectation of how the property needs to be left in order for FANNIE MAE to contribute moving funds. He tells them they need to leave attachments and built-in appliances, remove all trash and debris and leave the property in broom swept condition. he further explains there is somewhat of a sliding scale of payment. Roughly, it goes like this. Be out in two weeks and receive $2090.00. If it takes three weeks…the payment drops to around $1500.00. Between 3-4 weeks they still might agree to a small payment…but after four weeks they will proceed with forcible detainer action and the sheriff will move them if necessary. (as a side note…if the occupants are renting the property they are offered the opportunity to stay in the property with no deposits or credit checks…where FANNIE MAE is now their landlord)

3. He then calls them a day or two prior to the two week deadline and sets up a time to meet them and complete paperwork and inspect the property. If all is well he will submit a request for payment to FANNIE MAE. He explains that the check will take ten days to two weeks to process and will go to him. He then meets the former owners and delivers the check personally.

It was an interesting experience for me as I have not been involved in the REO listing side of the business as much as he has…so I learned a bit more about FANNIE MAE’s policy. I do want to state here however that if the owners loan is NOT owned by FANNIE MAE I have heard many different scenarios on the way they handle the process. Some may not off any assistance at all. Some folks claim they were offered assistance but never received the check. Still others I have heard of are still occupying the home and have not even been contacted by the bank or an agent!

We can only do the best we can do to help folks get past this with as less stress as possible…and get on with their lives!

If you are looking for a GREAT agent to help with your real estate needs please e-mail me atAdele@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.

THIS IS THE BEST MOST ACCURATE SEARCH OF OUR LOCAL MLS WHERE YOU CAN SEARCH JUST LIKE AGENTS DO

The explanation for this reduction in credit score is that the request for the loan modification paperwork is the first indicator that they’re at risk which means a credit score ding.    Consumer Data Industry Association, a trade group in Washington which represents the credit bureaus, says that people would not be asking for help unless they were having sever money troubles.  “The consumer is going into the program because they’re in a financial bind; other lenders would need to be aware of that”. (Norm Magnuson, spokesman; Yahoo Finance 2010).

So, as you’re making decisions about what to do with a mortgage that you’re not happy with, make sure you speak to someone who has experience with not only loan modifications but also short sales to get all questions about credit scores and your options answered.  Go to www.BethAHickey.com for more information on distressed property transactions.

Sales volume was down 6% from August while average pricing is also down 2.5% (price per square foot down 3%).  If you look at sales from Septeber ’09, sales were down 13% and pendings down 22% from last year.  Although this sounds bad, month to month pendings have been increasing about 4% so it seems buyer activity is keeping somewhat dependable and this will positively keep inventory moving if it can be sustained.  The supply on the market increased 2.7% from August, primarily by properties <$200k.  With this price range being attractive for investors, both for flipping and buy&hold, we could see an increase in buying activity by this sector of our market and since inventory is increasing, prices should remain favorable for quite some time.  Foreclosure notices are holding steady, which would which lends to increasing inventory (and hence maintaining favorable buying prices).

For my full Market Trends Report, please go to www.BethAHickey.com for a request.  I will not contact you outside of this report unless requested.