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North Phoenix 3 Bed + Den Rental Home in Moon Valley Area

September 11, 2012 by inVIVO realty Arizona

Very popular North Phoenix rental home floorplan located on a desirable south facing lot with no homes directly behind. This property rests on a large lot with fenced PebbleTec pool, and comes with generous patio and balcony area for great sunsets.

This North Phoenix 3 bedroom plus den rental home is located closely to Moon Valley and the Desert Ridge Marketplace.This is a 3 bedroom home with a huge loft area as well as a separate den. The kitchen features a gas range, a large pantry and an island. There is a generous eating area off of kitchen.

This North Phoenix rental home comes with a private pool.The master bathroom has double sinks and the master bedroom has “his and hers” walk-in closets. This North Phoenix rental home is located closely to the Loop 101 freeway and is in close vicinity to Moon Valley, and the Desert Ridge Marketplace.

Pool maintenance is included with the lease at $1,500. There is not a better value in North Phoenix home for rent.

Filed Under: Property Listings Tagged With: desert, home, moon, north, phoenix, pool, property, rental, ridge, valley

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

August 28, 2012 by inVIVO realty Arizona

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!

Filed Under: General North Phoenix Real Estate Blog Posts Tagged With: 203k, arizona, borrower, estate, ha, home, loan, phoenix, purchase, real, remodel, repair

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

North Phoenix Remodeled Home for Sale with Pool and within Walking Distance to ASU West Campus

August 13, 2012 by inVIVO realty Arizona

This North Phoenix home has been recently remodeled and upgraded with all the right touches and is offered for sale by Realtor Kim Anderson of the Arizona based 360 Real Estate Team.

The large kitchen was just upgraded with granite slab counter tops, tumbled Mexican Noche Travertine tile backsplash, an undermount sink as well as new appliances. The kitchen also includes a large breakfast bar and pantry.

The entire home has undergone the installation of new flooring including new tile and new carpet. There is also a new coating of paint and new baseboard throughout the house.

The bathrooms have been updated with granite slab counter tops. The master bedroom features a walk-in closet and a separate double French door exit to the extended patio and pool.

There are two large living spaces and a flex space for formal dining or additional living. Backyard includes covered patio and shed for additional storage. RV gate for additional toys.

This North Phoenix remodel home for sale is offered by the Arizona based 360 Real Estate Team Realtors.This property includes a beautiful diving pool which was recently remodeled to include new plaster and all new pool equipment (including a new efficient variable speed pump) to reduce electric bills. The home is also within walking distance to Arizona State University (ASU West Campus). Other benefits of this home include a new roof as of 2010 and the fact that it is located in a well manicured North Phoenix neighborhood which has no HOA fees.

Call one of our North Phoenix Realtors. This remodeled home for sale is a must see.

Filed Under: Property Listings Tagged With: anderson, estate, home, kim, north, phoenix, property, real, realtor, remodel, sale

June 2012 Arizona MLS STAT Newsletter for Phoenix Real Estate Statistics

July 26, 2012 by inVIVO realty Arizona

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.

Filed Under: General North Phoenix Real Estate Blog Posts, Phoenix Arizona Real Estate Market Statistics Tagged With: arizona, armls, buyer, distressed, estate, foreclosures, home, index, investor, listing, market, mls, pending, phoenix, price, property, real, seller, statistics, value

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