Arizona Home Talk

Over 78% of sales occur $200k & under!

I was sent this 2010 market data from Active Finance Group, LLC.  Very interesting statistics of what is actually selling these days!  I find this to be true in my experience - all my buyers are buying homes under $200,000 lately!  Click here to see the newsletter in a new window. - Becky Total Jan-10 Closings 5575 Sales price No. sales % [...]

What is a HUD Repo home?

What is a HUD home? If a loan that is insured by the Federal Housing Administration (FHA) goes into default, the lender must take steps to collect on the loan.  This may result in the lender taking possession of the Real Estate Collateral.  If this occurs, the lender may submit a claim against the FHA insurance [...]

Phoenix Market Snapshot

What is REALLY going on with Phoenix area real estate?  Here are the statistics as of 8/17/2009 - Properties For Sale in Phoenix-Metro area: 31,383 (it had been as high as 58,000 in ‘07/’08!) Lender Owned (foreclosures) for sale: 4,631 Short Sales for sale: 7,364 Properties under contract: 12,602 - 18,641 if you count those still in their inspection period. ACTIVE (for sale) listings [...]

Auction Results from Phoenix Convention Center

I attended the REDC auction with homebuying clients on July 13th, 2009.  The day before the auction I let my clients inside each house scheduled to be auctioned with my special REALTOR key.  We saw 8 homes and they decided to bid on 5 and they got 1! REDC was auctioning off 400+ homes/condos/land I arrived at [...]

Seller’s Market under $250,000

The definition of a “buyer’s market” has traditionally meant that the supply is greater than the demand. Specifically, more than 5 months worth of inventory/supply is considered a buyer’s market. Obviously, the seller trying to sell her $900,000 house will be willing to negotiate a lot, make repairs and kiss your feet if [...]

Ugly House Award

I went to see this bank-owned house for sale for one reason - I thought it was a great deal. IF you can get over how ugly it is from the exterior. To see the “bird eye view” map of this house and amazing lot - click here. $369,900 (117 price per square foot) 3,159 square feet [...]

Beautiful Home with Smart Floorplan

This home just hit the market and I expect it to be a popular one! Let me know if you’d like to see more pictures! I have a ton! -Becky Beautiful home w/smart floorplan. Highly sought-after Ponderosa Trails westside neighborhood w/walking trails. This sophisticated home has 4 generous sized bedrooms + office, 3.5 bathrooms & a [...]

PROS and cons of buying a foreclosure

  THINKING ABOUT BUYING FORECLOSURE? It’s no secret that foreclosure properties (AKA bank-owned, repos, real estate owned) are making up about 40% of all home sales lately.  It’s also obvious why - these are incredible deals.  Thinking about buying a bank-owned foreclosure? Here are some pros & cons to think about. Let me know if I [...]

Help for homeowners who “played by the rules”

Have you been responsible? Yea, me too. There is new help effective March 4th, 2009 for those of us that have paid their mortgage each month, didn’t speculate and buy a bunch of properties, and still manage to be “underwater” - owe more on your mortgage than what your home is worth. [...]

Fannie Mae Rolls-Back Investor 4 Property Limit

Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. The fannie_mae_logo1restriction reversal does come with new minimum requirements, however. Homeowners buying a 5th, 6th, 7th, 8th, 9th or 10th home must meet the following standards, as set forth by Fannie Mae: