The November numbers for U.S. home sales which include only resale homes is out and based on a claim by the National Association of Realtors, there was a 5.9 percent increase in November home sales over October 2012 home sales. In fact, this November’s sales reached the highest level since November 2009 sales which were really sparked by the threat of a federal tax credit that was to expire at the end of 2009.
Phoenix Arizona Multi-Family Commercial Investment Opportunity
Do not miss this opportunity to own a fully occupied Phoenix Arizona multi-family commercial building just over the Phoenix/Scottsdale border. This building has one year leases for each unit currently in place.
This 14 unit Phoenix Arizona residential multi-family building has just undergone interior and exterior improvements. Interior upgrades include new tile flooring, new carpet & laminate in necessary areas, granite tile counter tops, new fixtures, new water heaters in all units and fresh paint throughout.
Exterior improvements on this Phoenix multi-family investment opportunity include completely maintenanced roof top AC units all of which are in great working condition and many of the units have patios and yards. The age of the roof is unknown but there are no known issues whatsoever.
Other benefits to this Phoenix commercial residential rental building include a community pool, an on-site laundry facility that generates additional income, plenty of parking and an on-site property manager. This rental complex is well located with easy access to Sky Harbor Airport, Arizona State University, Tempe Marketplace, Biltmore Shopping Mall and downtown Phoenix.
We are a team of Phoenix Arizona realtors focusing Phoenix homes for sale, assisting buyers, sellers and investors.
Short Sale Condo Listing in Mesa Arizona
CURRENTLY OFF MARKET
Benefit from a Short Sale Listing with a Seasoned Short Sale Negotiator
This Mesa condo for sale is a short sale listing that is being handled by a seasoned short sale negotiator and realtor. If you have been looking for a bank owned or a short sale deal that will get you a great price on a Mesa condominium, this is that deal.
This ground level condominium is located in the heart of Mesa Arizona and is light and bright with French doors leading to a very charming patio that has extra storage for the buyer.
The complex within which this Mesa condo for sale lies, has been very well maintained and is within easy walking distance to the community pools and spa.
And the fact that this home is close to the Chicago Cubs Spring training camp only adds additional value. This property is also close to the Valley Metro Light Rail and is approximately 15 minutes from Arizona State University and Sky Harbor Airport. The homeowners association dues are low and include city water.
Do not miss out on this Mesa condo short sale listing opportunity!
Sold Real Estate Listing in Fireside at Desert Ridge
This Fireside at Desert Ridge home for sale is a real estate listing in one of the most highly sought after subdivisions within Desert Ridge that has just sold.
Owners of Fireside at Desert Ridge property have access to beautiful state-of-the-art community amenities.
Click here to view much more Fireside at Desert Ridge homes for sale where you will also be able to view a property listing brochure.
Understanding the FHA 203(k) as a Tool for Buying or Refinancing a Home
The FHA 203(k) loan in Arizona enables qualified borrowers to purchase a Phoenix home that may need repairs or to refinance an existing home for the purpose of remodeling. You can borrow monies to purchase the real estate and make the repairs and upgrades with only one set of paperwork and one set of closing costs!
These loans are especially great for FHA properties, older homes and REO homes — but any home can benefit from some remodeling or cosmetic fixes, to make it your own.
With FHA 203(k) rehabilitation lending, you have a convenient alternative to a second mortgage or HELOC for repairs, renovations and improvements. The loan amount is based on the as-completed value of the home, rather than the present value.
The benefits of an FHA 203(k) include:
- Purchase and refinance on 1- to 4-unit primary residences
- One underwriting review and one closing for rehabilitation construction and permanent financing saves you time and money
- Loan based on after-improvement value of the home
- Down payments as low as 3.5%
- Family members may pay all of the borrower’s required down payment, closing costs, prepaid expenses and discount points.
Even if you don’t have a lot of cash at hand, you may still be able to qualify for a 203(k) because of the allowance for family members to contribute funds.
There are two primary types of 203(k) loans: the Streamline Renovation loan and the Standard Renovation loan. Below are details on both:
Streamline Renovation Loan
Program Benefits:
- Total rehabilitation costs up to $35,000
- No HUD Consultation necessary
- No contractor approval necessary
Some examples of allowed renovations are:
- New roof
- Minor remodel of kitchen or bath
- New HVAC
- Upgrade electrical or plumbing systems
- New carpet or paint
- Install hardwood floors
- Purchase of new appliances
- Repair insect or weather damage
- Replace windows
- Finish basement
Standard Renovation Loan
Program Benefits:
- No limit on repair amount; $5,000 minimum
- Inspection fees for up to five draws are included in loan amount
- Single-family homes, PUDs and 2-4 unit primary residences are eligible
- HUD Cost Consultant fee may be rolled into the mortgage
- Mortgage payments for up to six months may be included if the property is not habitable during renovation
Some examples of allowed renovations are:
- New roof
- Remodel kitchen or bath
- Room addition
- Structural alterations or reconstruction
- New HVAC
- Upgrade electrical or plumbing systems
- New carpet or paint
- Improve landscaping
- Install hardwood floors
- Purchase and installation of new appliances
- Repair or replacement of structural damage
- Replace windows
- Finish basement
- Energy conservation improvements
- Major landscape work and site improvement
Use the 203(k) to turn a good home into a great home. We’d love to discuss this program with you in more detail. Please contact us today to learn more about the 203(k) home renovation loan and whether it’s the right choice for you!
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