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Phoenix Arizona Housing Crisis Solutions for Distressed Home Owners

August 26, 2012 by inVIVO realty Arizona

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.

Filed Under: General North Phoenix Real Estate Blog Posts Tagged With: arizona, distressed, estate, home, homeowner, housing, investor, lender, mortgage, owner, phoenix, real, realtor, sale, short

Fireworks at Moon Valley Country Club on July 4th 2012 will not Take Place

July 3, 2012 by inVIVO realty Arizona

After speaking with the Moon Valley Country Club events planning staff and to my disappointment, they confirmed that the news is official and the Moon Valley Country Club will not be having July 4th fireworks on Wednesday.

The Moon Valley Country Club confirmed that it will not have a 4th of July 2012 fireworks display on Wednesday.We are only two days away from our Country’s Independence Day and my family’s plan was to walk across the street to the Moon Valley Country Club and watch their spectacular North Phoenix July 4th fireworks display. The weather was too dry and with the chances of a monsoon coming on Wednesday, the winds could have posed a problem.

Since the weather outlook for North Phoenix over the next five days calls for scattered thunderstorms and a 60% chance of rain, we have included a link to the Weather.com so you can monitor the weather over the next couple days. Do keep in mind that fireworks displays throughout the Valley often cancel if there is rain up to the beginning of the event.

If you are a Moon Valley home owner and you’re searching for a fireworks event in North Phoenix, click this link to find other Valley wide locations for displays.

Filed Under: General North Phoenix Real Estate Blog Posts Tagged With: 2012, 4th, club, country, fireworks, home, homeowners, july, moon, north, owner, park, phoenix, valley

Desert Ridge 4th of July 2012 Fireworks at Time of 9 pm at Aviano Community Park

July 2, 2012 by inVIVO realty Arizona

We are now only days away from our Country’s Independence Day celebration; my this year seems to be passing us by.

Desert Ridge home owners will celebrate 4th of July 2012 by bringing their friends and family to induldge in entertainment and fireworks at the Aviano Community Park this coming Wednesday.

Come to the Aviano Community Park in Desert Ridge to watch the 4th of July 2012 fireworks display.The pre fireworks festivities will commence at 6:30pm and there is no fee for admission; the events are free. The fireworks will start at 9:00pm and go on until 9:30pm.

If you plan on driving to the Aviano Community Park, please make sure you arrive early for parking as spaces will be in short supply. Residents of the North Phoenix community of Desert Ridge are encouraged to walk (if it is weather permitting) which should make for much less traffic congestion for the Desert Ridge and Aviano home owners.

Do note that if we have rain up to the beginning of the events, the events and the fireworks display will be cancelled. Track your weather by clicking here. Currently, scattered thunderstorms and a 60% chance of rain are on the forecast for 4th of July .

From all of us at 360RealEstateTeam.com, please have a very safe July 4th holiday.

Filed Under: General North Phoenix Real Estate Blog Posts Tagged With: 2012, 4th, aviano, community, desert, fireworks, home, homeowners, july, north, owner, park, phoenix, ridge

Phoenix AZ Rent Check Statistics on Residential Home Leases for June 2012

June 18, 2012 by inVIVO realty Arizona

The Metropolitan Phoenix Valley RENT Check™ statistical data is derived from ARMLS’s monthly report addressing the Phoenix residential single family home rental market.

This home leasing report features the Rent Check Quotient™ (RCQ™) which is the result of dividing the number of leases by the number of closed home sales as reported in STAT. Elevated lease activity is driven by high foreclosure volume, which turns would-be home owners into renters, and investor sales into rentals rather than owner occupied houses.

Metropolitan Phoenix Valley home rental statistics relating Phoenix residential property sales to home buyers and investors.

Click here to view the Valley’s latest single family home lease statistics.

Filed Under: General North Phoenix Real Estate Blog Posts, Phoenix Arizona Real Estate Market Statistics, Real Estate Sales Data Tagged With: az, buyer, foreclosure, home, lease, market, owner, phoenix, property, rental, renter, sales

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.

Our expert real estate agents and brokers can help you with your VA loan short sale in Greater Phoenix Arizona.

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.

Filed Under: General North Phoenix Real Estate Blog Posts Tagged With: arizona, buy, estate, home, homeowner, loan, owner, phoenix, real, sale, sell, short, va

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