home - The North Valley Team of Phoenix Arizona

Can I do a Short Sale if I have a VA Loan?

April 18, 2012 by inVIVO realty Arizona

In Phoenix there seems to be alot of confusion for home owners with VA loans as to whether or not they can do a short sale. The answer is yes. I just recently assisted two homeowners, with VA loans, in the Greater Phoenix area, complete short sales. Those home owners have now avoided foreclosure and they should be able to buy a home again in two years if they rebuild their credit during those two years.

I believe part of the confusion lies in the VA guarantee; home owners think they have to pay that money back. In most cases the money does not have to be paid back; it is forgiven through the VA short sale process. However, a VA eligible borrower will not be able to use their VA eligibility to buy another home until any deficiency is paid back. But, there is nothing stopping that borrower from getting an FHA or conventional loan for the purchase of real estate after the two year period, providing the buyer has effectively rebuilt his or her credit.

A homeowner does need to prove a valid hardship, and a military transfer or deployment is a valid hardship if your home is worth less than what you owe on it and as a result, you cannot sell.

The best thing to do is simply give me a call and we will discuss your lending structure, hardship and home value, and then call your loan servicer to confirm required paperwork and eligibility for a short sale. You must ALWAYS be aware of ALL your options before committing to a strategy.

FHA Loan Financing….Did you know?

April 16, 2012 by inVIVO realty Arizona

Are you aware of these FHA loan financing benefits? If not, you should read this before you buy your next Phoenix Arizona home.

I was speaking with a tenant that was living in a home that one of my clients just purchased in Glendale. She had expressed to me that she wished she could purchase a home and specifically the home they were renting. She told me that she thought her credit score was over 700 but didn’t think she could get a loan because of job history and no large down payment.

I let her know that FHA loan financing allows a person to go to school for one year and have it count as job history. This person had worked before she went to school and already had job offers for when she graduated. So she won’t have job history issues. I also reminder her that FHA only required 3.5% down payment and closing costs could be rolled into loan. On a $100,000 purchase that is only $3,500 down and with rates where they are at, they payment would be about $400 less that their rent payment.

There is still other factors to consider, but the moral of this story is that I realized how many people operate off of a lack of information or bad information. I speak to so many people who believe you need 20% down to buy a home these days. I realize that as real estate professionals, we have to continue to reach out and educate so those who desire home ownership truly know what their options are.

Gilbert Home for Sale Listing in Carol Rae Ranch

April 7, 2012 by inVIVO realty Arizona

Located in the Carol Rae Ranch residential community of Gilbert Arizona (major cross streets are Higley & Guadalupe), this home is a rare find for a small family or avid investor.

Gilbert home for sale in the community of Carol Rae Ranch. Great property for family or investor.

At 1,387 Sq Ft in size, this three bedroom, two bathroom home is not only graced with interior features, but has perfect Arizona outdoor features such as a built-in barbeque, and a saltwater Pebbletec pool with a water feature.

The interior of this home features a well planned greatroom floorplan maximizing available space. There are mahogany engineered wood floors and custom paint throughout the home. The kitchen features granite tile counter tops, stainless steel appliances, a food pantry, and a bay window off of the kitchen for a breakfast nook. The master suite includes a walk-in closet and the master bathroom comes with double sinks, and separate tub and shower.

Other exterior features are the two car garage with built in cabinets, and an RV gate with plenty of room on the property for a boat or jet skis. Backyard features, in addition to the gorgeous Pebbletec salt water pool with water feature, include a grassy area, and the built-in BBQ comes with an outdoor fridge in the island.

Three bedroom, two bathroom homes in this condition are difficult to find at this price. Additionally, the Greater Phoenix rental home market is strong and this home could be a good investment to the right investor.

Gorgeous Gilbert Arizona Home in Villages at Spectrum

March 30, 2012 by inVIVO realty Arizona

This gorgeous Gilbert Arizona home for sale lies in the conveniently located community of Villages at Spectrum.

This Gilbert Arizona property is in the community of the Villages at Spectrum.

The buyer of this home would have easy access to the Loop 202, and would be in close proximity to shopping and restaurants at San Tan Village. This home is a must see for active families or adults.

This Gilbert property features upgraded wood and tile flooring, granite counter tops, stainless steel kitchen appliances, custom paint throughout the home, a large master bedroom with double sinks and a large walk-in closet in the master bathroom, and a garden tub with a separate shower.

Exterior features of this property include epoxy coated floors in the garage, and a very pleasant outside patio with a barbeque.

The Villages at Spectrum HOA maintains common areas. There is relatively low maintenance on the property, and the community has a pool & parks.

Tremendous Investment or Family Home Opportunity in Phoenix Arizona

March 14, 2012 by inVIVO realty Arizona

This three bedroom, two bath home in the Phoenix Arizona community of Mountain West Estates has tremendous potential as an investment real estate opportunity, or would make a great starter home for the first time family home buyer.

In very close proximity to downtown Phoenix and South Mountain Park, this home comes with a community pool and spa, a greatroom with vaulted ceilings, a kitchen with upgraded 42″ high cabinetry and a large pantry, a master bedroom with a large walk in closet, and a two car garage with built in storage cabinets.

The backyard is nicely appointed and landscaped with grass, mature trees, covered patio, and a storage shed.

Contact Kimberly Anderson for more details on this home, or other homes for sale in the Greater Phoenix and Scottsdale areas.

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