3 Reasons to stop paying Rent and become a Home Owner today! March 20, 2009

First time home buyers in AZ

Calling All Apartment Dwellers

3 Reasons to stop paying Rent and become a Home Owner today!

Very rarely do all factors converge to make an ideal situation for buying a home. But, it has happened this month. The top three factors that make it the best time to buy your first home are:

1.1. The Federal Government is offering YOU $8000 to Buy a Home in 2009.

No kidding! First Time home buyers (of those of you who have not owned a home in 3 or more years) qualify. It is a $8000 or 10% of the value of the home in the form of a Tax Credit. This is NOT a tax deduction. A Tax Credit is claimed on your tax return and reduces your tax liability. If you have more credit than you owe in taxes, you will receive a Refund Check. How cool is that? Just stay in the house for three years and you never have to pay back a dime.

22. . Interest Rates are at an amazing 4.875% for a 30 year fixed rate loan. Rates haven’t been this low in years. This means your monthly payment will be less than you would think. Good Deal!

3. 3. Arizona Home Prices are incredibly low right now. Between the rash of foreclosures and short sales along with bank owned properties, the chances of you finding a house at a bargain price on a wonderful home are great. If you are willing to look in outlying areas, the number of properties to chose from quadruples.

First time home buyers have never had so many reasons to buy. If you’ve been thinking about buying but have been waiting to see what the market would do, it’s time to act. Any of these three factors may change this year, but the change may not be in favor of the new homebuyer.

Top 9 Secrets to Selling Your Home Fast in a Buyer’s Market December 27, 2008

With so many homes on the market, how will your home ever sell?  Here are the Top 9 Secrets to Selling Your Home Fast: Your home will need to be priced very competitively. Unfortunately, yourcompetition includes Short Sales and Bank Owned Properties.  Keep this in mind, your buyers will. Massive Internet Exposure - most buyers (>85%) start their home shopping online.  Your home has to be seen! Photos, photos, photos will help your home to show it’s best side online. (Professional quality pics are best) Offer higher commission to Buyer’s Broker - will move your home to the top of a showings list.  Agents create lists of properties to show their clients, to make sure your home will always be shown, offer more commission to these buyer brokers.  Curb Appeal - Clean up, especially the front door area, paint is inexpensive so use it liberally.  You want the buyers to actually come in the home, not just drive by. Appeal to the senses – The first sense activated upon entering your home is Smell.  If you have pets, ask your Realtor for an honest opinion about the scent of your home.  Light – Open all of the curtains, blinds, drapes, shades etc… Clean the windows inside and out.  Music - studies have shown the psychological effects music has on consumers.  Use this info to influence potential buyers.  Have some mellow music playing as a backdrop.  Staging – Your Realtor should be able to help you with staging your home to show off it’s best points.  Simple touches like: table settings, flower arrangements, snacks for visitors, bathroom towels etc… can work wonders.  (Always have toilet seats down, Always!) Become more flexible with showings - Allow a Lockbox to be used, Don’t limit the times of showings, don’t be present during showings (take a walk around the block). Choose a Realtor who is responsive and returns your calls promptly.  Your Realtor should be Internet savvy in order to draw as much attention to your home as possible.  Make sure you like your Realtor, as you will be talking to them daily.  You do not want to be pressured by a pushy agent.  Your Realtor should have many connections that you can use for Home Inspections, Termite Inspectors, Pool Inspectors, Stagers, Title Companies, Mortgage Brokers, Movers, Landscapers, Painters etc… Following these tips will make sure your home is seen by prospective buyers and will give you a leg up on the other properties you are competing against.  When you decide to sell your home, please contact me and let’s get started!

Why is everyone talking about Kiva.org? November 30, 2008

My son came home from work yesterday and was going on and on about this new Entrepreneurial website called Kiva.  He thought it was genius, pure genius. (He’s 19).  He explained that it allows individuals to make loans to entrepreneurs in developing countries which they can use to start up or continue their small businesses.  I entered my car today and switched on the XM Satellite radio and there on the NPR station was an interview being played with Matt Flannery, Co-founder of Kiva.  Hmmm, coincidence or not?

Kevin along with wife, Jessica, fought against a lot of naysayers in 2005 to get his site started. Friends said it just wouldn’t work.  An attorney told him it was illegal to give money to people in third world countries and then have them mail their loan payment back. So, Kevin researched the case law and policy on this topic, but could not find anything illegal about it.  Venture capitalists did not see how anyone could make enough money on this type of deal.  Foundations would not support the idea because it did not appear to be charity but instead, a type of commerce.  Kevin and Jessica went ahead with their plans for the site.

Today, Kiva.org is one of the hottest sites on the web.  When you visit, you can look up struggling business owners around the world and see their pictures.  They receive recommendations by other Kiva uses.  You are able to read their profile and decide if their business is something you would like to support.  A tally shows how much money they need and how much they have received to date.  You can start teams among your friends/family to give as a group.  Team tallies are also displayed on the site. 

Some loaners have even gone as far as visiting the Kiva entrepreneurs they have loaned money to.  The site has been featured in every major magazine and many Senegal, Peru, or the Ukraine. For example, Justina, Ayacucho, Peru is 48 years old and married with five children. She sells potatoes from a stand in the Las Americas market, she also travels to regional fairs to sell clothing and buy grains. She is requesting a loan of $275 to buy more potatoes. As of today she has received $75.  You can see her picture on line.  She is just one of thousands of individuals affiliated with the site.  You do not get this same kind of feeling when you donate to a big charity. You just don’t.Check out the site: http://kiva.org  This is an amazing “Feel Good” site.  You’ll be talking about it, too.  Very cool!

Justine, Peruvian Potato Seller

news shows. (Where have I been?)  This site is hot because it lets a loaner feel like they are really helping a specific

person. You actually feel like you are forging a connection with someone in

Looking for Bargain Luxury in Arizona? November 20, 2008

Luxury Homes Magazine

Phoenix and Scottsdale Arizona have amazing bargains available in the luxury home market right now.  Due to a confluence of factors including the Overall US Economy, Government Administration Transition, Stock Market failings, Unprecedented Number of Foreclosures, and Recession Fears, to name a few factors, the high end market is experiencing a glut of homes on the market.  This glut translates into bargains for the savvy home investor.  I specialize in Luxury Properties in the Phoenix area.  Take a look at three stunning properties listed in Luxury Homes Magazine (Nov/Dec 08 Issue).  For more information on these and other Arizona properties, visit www.HomeSweetAzHome.com

Luxury Homes Magazine Nov/Dec Properties

Perfect Patio Home in Chandler, AZ – Just Listed November 17, 2008

Perfect Patio Home in Chandler, AZ – Just Listed

For other bargain listings in AZ visit: www.HomeSweetAzHome.com

Mortgage Rescue Rip-off – One Family’s Experience November 6, 2008

 

Paul and Sharon of Chandler, Arizona, were in a tight spot.  Paul, an engineer, had been laid off from his job at a Semi-conductor plant in May.  Sharon, a stay-at-home mother of three, thought she was used to the ups and downs of the job market in his field.  They were in the habit of saving as much as they could for these periods when Paul was looking for work.  But, this lay off had come at a very difficult point. 

They had purchased their ‘dream home’ eighteen months ago, in a newly constructed planned community.  They had decided to use a huge chunk of their savings towards the down payment and the upgrades they really wanted.  Paul had been sure his job was stable for a few years.  They didn’t think it was going to be a big risk to put their savings towards the house.  The lay-off caught the family off guard. 

By October, they had missed three mortgage payments.  They received a notice from the bank that they were going to be foreclosed upon.  As Sharon explains, “We were just panic stricken.  We knew we were behind but Paul was interviewing.  He was going to get a job very soon.  We didn’t want to lose the house.  The kids like the school and we have made friends here”. 

The received a call from a “Mortgage Rescue” company.  The caller, Brad, told Sharon that his company would be able to help her to keep their home.  Brad said they had helped many homeowners in the area and would be able to arrange for Paul and Sharon to work things out with the mortgage company.  Sharon recalls, “I was very excited.  I asked him for references, even.  He gave me two names.  This guy was really nice and so helpful.  He said his company was helping lots of people in Chandler”. 

As Brad explained the program, his company would lend Paul and Sharon money to make the back-payments on their mortgage.   They would then make the monthly payments to his company that included the original mortgage payment plus a payment on the new loan (at 21% interest).  Sharon and Paul would sign a deed transferring the property to the rescue company, temporarily, so that the rescue company could work with the mortgage company to save the home from foreclosure. Brad told her that once Paul secured a job and they had regular income, they would pay off the new loan and the deed would be transferred back.    Sharon was thrilled that she had possibly found a way out of the mess they were in. 

Paul, however, was skeptical.  He did not like the idea of a new loan or the requirement to sign over the deed to the house.  He did some internet investigating.  His search led him to the county District Attorney’s office which had information about this fraudulent method of operation.  The plan which Brad had outlined to Sharon was a scheme designed to take their home and steal any equity they may have had. 

When this scheme plays out, the homeowner signs over the deed to their home which gives the rescue company ownership.  The former homeowner has to pay back the rescue company for “bailing’ them out.  This is always at an exorbitant interest rate.  The homeowner ends up renting their former home.  If the homeowner fails to make rent payments on time, the rescue company evicts the former owner.  All rights and equity in the home are lost and go to the rescue company.  Often times the rescue company does not pay the mortgage at all, but keeps all of the money paid to them. 

Paul and Sharon decided not to accept Brad’s offer of help.  They have chosen to go through the foreclosure proceedings and are now looking for an apartment.  Bad luck, but it could have been worse for them had taken Brad’s claims at face value.  They may have not only lost their home but also the money paid to the fraudulent company.

Be Careful.  These Rescue Rip-Offs are designed to take your home and steal any equity you have built up.  Look for these Red Flags:

·         The Rescue Company wants you to sign over the Deed of your home so it can work with your mortgage company to “save” your home from foreclosure.

·         The Rescue Company tells you to sign a Deed transferring your home to them and promises that once you have caught up with the past due mortgage payments your home will be transferred back to you.

·         You are required to pay a Service Fee to locate a lender or buyer for your home.

 

For more information: www.homesweetazhome.com 

 

Furnished Custom South Phoenix Home for Sale October 20, 2008

South Phoenix Custom Home with Furnishings For Sale

Amazing territorial style 6 Bedroom Home in the Equestrian Estates of Ahwatukee (South Phoenix) is being offered for sale for $1,195,000 which includes the furnishings. This home is located on a quiet cul-de-sac with views of South Mountain. Exquisitely decorated with a sunken livingroom with 22′ ceiling. A large backyard includes a spacious patio, barbeque and pool.
For more information go to: http://www.homesweetazhome.com

Arizona Real Estate Deals for Canadians October 8, 2008

The Time has come for Canadians to Buy in Arizona

You’ve heard the about the great deals in Arizonian real estate. 

Is it true?

What’s the catch?

YES, it is true. The real estate market in the Phoenix area is under siege. The amount of homes going into foreclosure is predicted to double in the next month. The Phoenix area has a glut of over 50,000 properties for sale. Home prices are sinking fast as sellers become more anxious about their homes selling. Builders of new construction are willing to accept low offers to get properties off of their books. Condos and townhomes that are new and/or under construction are being offered with great incentives for buyers.

 NO CATCH especially to Canadians. The Canadian dollar is very strong in comparison to the US dollar. Canadians are able to get excellent value for their money. Now is the time to pick up a second home property for a rock bottom price. The interest rate for mortgages this week is at an amazing 5.75% for conventional mortgages.

If you can afford to pay cash for a second home, you are in a great position because of the exchange rates which favor the loonie. The resort properties in Canada have increased dramatically in value over the past couple of years. It is now much cheaper to buy a second home in Arizona than in a Canadian resort. Canadian buyers are split in their forms of payment for US second homes. 53% take out mortgages while 47% pay cash. (Investors Group) If you plan on using US banks for your mortgages you are often required to produce a down payment of 30-40% as well as provide six months of property taxes, insurance payments and mortgage payments which are held in escrow. If you are using a Canadian bank, your down payment will be reduced.

 For more information about relocating or finding a second home in Arizona, call Christine at 480-628-0496.

Perfect Patio Home for sale in Chandler, AZ October 20, 2008

Entrance to Heatherbrook Community Chandler, AZ

 




This Single Story Patio Home is perfect for retirees or first time buyers.  This 3 Bedroom 2 Bath home boasts vaulted ceilings in the greatroom, dining room and kitchen.  Plantation shutters grace the bedrooms.  Brand new stainless appliances have been installed in the bright eat-in kitchen.   New carpeting thoughout the unit.  This home has just been painted inside and out.  There is a security system and security doors.  A no-maintenance backyard with a covered patio.  The HOA maintains the front of the property.  There is a community spa, pool and sports court at the end of the street.  This home sits on a quiet cul-de-sac.  The community is situated close to the 101 highway for easy access to Phoenix and Scottsdale.

For more info and pictures go to: http://www.2325westshawneedrive.com

or http://www.homesweetazhome.com

10 Critical Things Every Home BUYER Should Know! July 19, 2009

1. How much house can you afford? (and still have money left over to order out for pizza once in a while).  A good lender will help you figure this out based on the information you give them.

2. Not all Lenders offer the same rates and deals.  Shop around.  Ask me about bank lenders vs. mortgage brokers.  Then get preapproved for a mortgage.

3. Great News! You do not have to pay your Realtor ANYTHING!! No kidding!  The Seller pays their Realtor AND the Buyer’s Realtor.

4. Start looking at homes only after you have done the two items above.  I will research homes for you based on what you tell me you want in a home.  I will help you to note positives and negatives of each property.

5. Know what kinds of properties you are looking at. Short Sales, Bank Owned, Preforeclosure, REO’s, Straight Sales are all out there right now.  Ask me to explain what each type of house means to you, your strategy and your timeframe.

6. How to make an acceptable offer.  I will give you the information on comparable properties that tells you what similar homes have sold for recently.  We will discuss your options together and make an educated offer.

7. You have to have money available to go with your offer. This Earnest Money is usually a personal check that we submit to the Seller to show you are serious about your offer.  A general rule is the Earnest Money is 1% of the house price.

8. There are TWO negotiation periods on most houses. The first period is when you are trying to agree on the price and conditions of the sale.  The second period comes after you have a Home Inspection and are trying to get the seller to make repairs.

9. You CAN get out of the deal. If you can’t get a mortgage, if the house doesn’t appraise, if the house has serious flaws the Home Inspector finds, if, if, if… Ask me about this.

10. You will need money for an appraisal, down payment, and closing costs.  Have all of this figured out way before the closing date approaches.

As your Realtor, I will help you with every step of the process in getting into your new home.  Let’s get started!

You Have Won! Prize Notification Scams November 11, 2008

 

 

Of course I have heard about these phony prize notifications being generated from Nigeria.  But when I received a notice from Italy that a relative with my last name had died and left me an inheritance, I was intrigued.  They had my last name and email correct.  I guess it was possible I had a long lost relative named Giuseppina Loschiavo, even though I had never heard of her.  The letter told me I had been left a large sum of money and that all I had to do was contact the sender. Visions of vacations in my own Italian villa floated through my mind. The sender’s return email looked official, like some sort of law office in Florence.  When I showed the email to my family, they sadly shook their heads.  Don’t be take in, they told me.  It’s a scam.

 

 

 

 

 

Darn! Good-bye vacation villa.

 

Phony lottery, sweepstakes and inheritance notification are among the most successful scams in history.  We can thank the World Wide Web for this success.  Consumers receive a notice that they have won a lottery, prize or have money from a deceased relative waiting for them.  Usually, the consumer has never heard of the contest or relative.  But, it sounds plausible.  Just maybe it’s true.  That thinking is what the scammers are counting on.

 

In the long lost relative scam, the scheme requires a small payment for ‘processing’ or ‘taxes’ or ‘conversion of currency’.  The writer usually claims to hold a high-ranking position.  The foreign ‘lawyers’ advise the heir to keep the inheritance a secret to protect the money from the Internal Revenue Service.  They then request bank account information to facilitate sending the alleged money and may ask for a ‘good faith’ payment up front.  The ultimate goal is to obtain these advance fees and the personal financial information is a bonus to these scammers.

 

Chances are if you have never heard about a relative overseas, they don’t exist.  Even if you have unknown relatives, the chances of them wanting to leave YOU an inheritance are slim to none.  If you receive one of these emails or letters, delete or shred it as fast as you can. 

 

Red Flags to watch for:

1. Beware of request to wire or mail money to cover administrative fees, taxes or legal fees involved in processing ‘your winnings’ or ‘your inheritance’.
2. Beware of any attempt to prod or threaten you into sending money immediately or the money will be lost.
3. Beware of requests for bank account information so your prize/money can be deposited directly into your account.
4. If you have lost money, report it at once.  Mail victims should contact the US Postal Service. Others should contact their state Attorney General’s office. 
5. Once you have fallen victim to one scam, you will most definitely be targeted for future scams.

Wholesale Properties Available in Phoenix, AZ November 7, 2008

Your Resource for Arizona Real Estate Investing!!

Our goal is to provide our clients with access to properties at below market value!!Depending on your investment needs, we have access to wholesale homes and can find one or more for you based on your individual criteria and resources. Whether you’re a long-term investor looking to build a rental portfolio, a short term fix-and-flip investor, or an individual investor looking to lend money that is secured by real estate, Home Sweet AZ Home is your #1 resource.

To view a sample of current properties available for wholesale prices click here