The North Valley Team of Phoenix Arizona

Short Sale Condo Listing in Mesa Arizona

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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 Mesa condo short sale listing is being negotiated by a seasoned short sale realtor so this is a very real opportunity for a buyer.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!

Understanding the FHA 203(k) as a Tool for Buying or Refinancing a Home

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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!

With the FHA 203k Phoenix home loan, a phoenix home buyer can purchase a home and have it repaired or remodeled with the same low interest FHA loan.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!

Phoenix Arizona Housing Crisis Solutions for Distressed Home Owners

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If you are a Phoenix Arizona home buyer right now you already know that the Phoenix real estate market has heated up again. Low supply and high demand is creating multiple offer situations on most Phoenix homes for sale listings. On more than one occasion I have gone on day 1 to a new listing only to find 5-10 realtors with clients waiting outside to show property. Multiple offers drive up price and that will result in some appreciation in 2012 in my opinion.

We help identify solutions for distressed homeowners in the Phoenix real estate market.There are other things helping the Arizona housing crisis. The time lines for short sales has shortened with most lenders. They have streamlined their processes. One example of this is Fannie Mae was just given more authority by 5 major mortgage insurers to approve a short sale without their approval. Prior to this, the mortgage insurance approval process could add an additional 2-4 week to the timeline. This will really help and shows the intent of institutions and mortgage insurers to want to complete short sales in a more efficient time frame.

Some lenders are offering large incentives to homeowners to complete Phoenix short sale home transactions. I just completed a Phoenix short sale offered by Chase and my sellers received $20,000 at closing as a short sale incentive from lender. These offers vary and depend greatly on which investor is backing the note. Chase is not giving everybody $20,0000.

Bank of America has the cooperative short sale where they claim will shorten the short sale process and HAFA is the government incentive short sale program offering $3,000 to homeowners who qualify.

The recent revisions for Harp 2.0 should help thousands of homeowners being to now refinance their underwater homes. The extension of this to non owner-occupied homes will really help Phoenix real estate investors who are upside down from walking away.

If you feel as though you are a distressed homeowner and you would like more information on Harp 2.0 or want to talk about Phoenix short sales, visit our Distressed Homeowner Rescue website or just give me a call at 480-201-4185 and I will be happy to discuss your situation and help you identify and understand all of your options.

June 2012 Arizona MLS STAT Newsletter for Phoenix Real Estate Statistics

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The Arizona Regional Multiple Listing Service (ARMLS) publishes the STAT newsletter which highlights monthly residential real estate statistics specific to the Phoenix housing market.

This comprehensive newsletter includes data pertaining to total housing and new housing inventory numbers, month-over-month and year-over-year home sales, the reported month’s supply of inventory, new property listing prices, home sales prices, the ARMLS Pending Price Index (which is also broken out as a separate report and posted to our blog ), foreclosures pending, distressed property sales, average listing days on market for homes sold, and a commentary highlighting real estate activity for the month.

The Arizona Regional Multiple Listing Service (ARMLS) publishes the STAT newsletter which highlights monthly residential real estate statistics specific to the Phoenix housing market.

Click here to view the June 2012 ARMLS STAT Newsletter™ issue

This newsletter highlights very pertinent data for typical home buyers and sellers trying to understand the Phoenix real estate market as well as for residential real estate investors trying to identify Phoenix home sale trends to make smarter investment decisions.

Contact our team of Phoenix home sale agents and brokers today.

Parkwood Estates Chandler Arizona Home for Sale

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We have a very nice Chandler Arizona home for sale located in Parkwood
Estates.

This new Chandler real estate listing has been nicely updated with all the right upgrades that seem to be highly regarded by many of our buyers.

This Chandler Arizona property for sale is located off Boxelder.The kitchen features granite counter tops laying over new cabinets and an undermount sink. The newly added appliances help support the updated feel of this kitchen.

Throughout the home, the current owners have added new carpet as well as 18″ tile. The bathrooms feature new vanities also having granite counter tops and the showers host a tile surround. The interior has been freshly painted.

Contact us to view this Chandler Arizona property listing for sale.This Chandler property has a backyard that comes with a private pool which has just undergone a new plastering. Because the property has been vegetated with desert landscaping, it should be very low maintenance and easy on the water bill.

This home is located near the Desert Oasis Aquatic Park. It is only a short walk to the Summit Academy School and is also near Dobson High School.

Contact us today if you are interested in viewing this Chandler Home for Sale

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