Queen Creek Home for Sale

January 8, 2012 By Leave a Comment

Address:19926 E Thorton Rd, Queen Creek, AZ 85142
MLS:4698072
Price: $199900
Bedrooms: 3
Bath: 2
Year Built: 2008
Pool:No
Spa:No
Fireplace: No
SqFt: 1514
Type: Single Level – Single Family
Lender Owned: Yes
Homepath Eligible: call agent Kay Wood
Subdivision:Emperor Estates
Cross Streets: Sossaman/Queen Creek
Gated Community:No
Schools:Queen Creek Unified District
Garage: 2 Car Garage
Exposure:North/South
Taxes: $1480
New Financing: Cash, VA, FHA, Conventional
Listing Broker: RE/MAX Kay Wood – Amanda Cook

Relocation forces Short Sale…Your GAIN! Awesome N/S exposure with 3 full bedrooms and small custom detached workshop/office in back(with a/c & electric). Spacious open great room, 9′ ceilings throughout, upgraded staggered kitchen cabinets with extra in dining area, granite counters, island, gas stove, split floor plan, 2 sinks in Master, separate laundry with sink(not walk-through style), surround sound, 20×10 covered patio, grassy back yard with concrete dog run on East side of home.
http://tour.previsite.com/A46CF052-9E78-1ACA-E4B9-A8D999C75D1C

Filed Under: East Valley Listings, Existing Home Sales, Mesa News Tagged With: , , , , , , , , , ,

12 W MONTOYA LN Phoenix, AZ 85027

June 23, 2011 By Leave a Comment

Address:12 W MONTOYA LN Phoenix, AZ 85027

MLS: 4603912
Price: $99900
Bedrooms: 3
Bath: 2
Year Built: 1979
Pool: No
Spa: No
Fireplace: NO

SqFt: 1350

Type: Single Level – Single Family
Lender Owned: Yes
Homepath Eligible:

Subdivision: Rose Garden
Cross Streets: Central & Beardsley
Gated Community: No
Schools: Deer Valley District
Garage: 2 Car Garage
Exposure:North/South exposure
Taxes: $1082.02 – 2010
New Financing: Cash, VA, FHA, Conventional
Listing Broker: RE/MAX Diamond

BRAND NEW A/C 6/2011! Vacant. Bring Contract! Regular home for sale by owner who is taking a huge loss…hurry won’t last. Tile, 2009 paint in and out, 2009 landscape and drip system, newer patio, newer outside lighting, 2008 Roof, 2009 hot water heater, 2008 dishwasher, fun newer mailbox. Plantation Shutters. North – South Exposure. Cabinets in garage, intercom, alarm system. Master has exit to yard. Elementary School just down the street. Close to 101, I-17 and Hwy 51. NOTE: ROOM SIZES ARE ACCURATE. 2rd bed is now open can be large den or familyroom. FORMER MODEL HOME.


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Filed Under: East Valley Listings, Existing Home Sales Tagged With: , , , , ,

Sell My Home In Mesa – Some Steps To Take

October 18, 2010 By Leave a Comment

Selling a home in this current market – Mesa AZ is no exception – does take some finesse and preparation. There are a lot of folks out there trying to sell their home in many shapes and sizes. With so much competition, you need to really position yourself well to make your home stand out and to give yourself the best selling position possible. Below you will find a list of action items you can take to help you sell your home quickly and to help you get what you want for it.

  1. Get A Seller’s Home Inspection – Home buyers are most likely going to get their own home inspection and theirs is going to point out all the stuff that is wrong with your home – so much so that you could lose your interested buyer if your home isn’t up to speed. To avoid this problem, hire a home inspector and have them inspect your home before you put it on the market. Then, take action on the items that the inspector pointed out.
  2. Hire a Home Stager – Home buyers want to be wowed when they walk through your home. They also don’t want to see all of your memories. Your memories are yours so please put your photos and other family memorabilia away until after you have a signed contract – or better yet, leave it boxed until you get into your next place. A home stager can walk through your home and give you ideas to make your home stand out. I might be able to give you some pointers too.
  3. Make the Upgrade – If it is something that you can afford, you may want to upgrade the kitchen of the bathroom before you put the home on the market. Home buyers, at least most of them, don’t want to buy a fixer upper handyman special home. Buyers want to move in without a whole lot of work required. Upgraded property can show pride of ownership and throw someone over the fence in terms of buying your place or someone else’s who has done the work on their home.
  4. Go Green – If you can, where you can – install some energy efficient appliances and solar conversions like a hot water heater or even an electrical solar bank. Green homes appeal to more and more people every day and it is definitely one way to set your home apart.
  5. Reduce Your Utilities – Believe it or not, you may be asked to show your utility bills for the past 12 months – if this is the case you could do yourself a favor and start conserving energy to show a lower utility bill. Lower bills mean a cheaper monthly expense as well as it could indicate a more sound construction. Both of these could make a difference in selling your home faster than a comparable house that has higher bills.
  6. Get an Appraisal – Even though I can get a good market analysis or broker price opinion (bp0) to help determine the sales price of your home when you put it on the market you may want to invest a few hundreds bucks to get an appraisal done to help determine the current value of your home. The appraiser’s job is to determine home values – it is our jobs as real estate agents to sell homes so you may get a more thorough idea of value going with an appraiser. Having the right price will save a lot of grief down the line in the event that we agreed on a higher price than what the home actually appraisers for. In the event that value is less than purchase price, then the buyer may have to come up with more money, or you may be forced to negotiate with your bank to be allowed to short sale.
Filed Under: Existing Home Sales

Existing Home Sales Strengthen, Home Buying Opportunities Expand

May 28, 2010 By Leave a Comment

Existing Home Sales Apr 2009-Apr 2010Sales of existing homes rose in April, buoyed by an expiring home buyer tax credit and exceptionally low mortgage rates.

As compared to March, April’s Existing Home Sales rose by 410,000 units nationwide — the second straight month of large gains. An “existing home” is a home resold by a prior owner (i.e. not new construction).

It’s a solid report for housing overall, with rising sales suggesting that the real estate market’s recovery is ongoing. However, the data presented a mixed message.

According to the National Association of Realtors®, although the number of homes sold ticked higher in April,  so did the supply of existing homes for sale, too.

Sellers are now listing homes faster than buyers can buy them.

After adding another 0.3 months of supply in April, resale home supply is nearly two full months larger than at November 2009′s low-point. This put downward pressure on home prices.

Furthermore, because 49% of April’s buyers were first-time buyers and the tax credit has since ended, we can expect that sellers will continue to outweigh buyers in the months ahead.

It presents an interesting opportunity for June’s home buyers. Mortgage rates are still at their lowest levels of the year — despite expert predictions to the contrary — and homes remain affordable. Plus, in a lot of markets, home values have started to creep higher.

There’s good values and good rates but neither should last long. For the next few weeks, real estate may be in its 2010 sweet spot.

If you were thinking of moving in September of this year or later, consider moving up your timeframe.

Filed Under: Existing Home Sales Tagged With: , ,

Existing Home Sales On Upswing While Home Values Rise

April 23, 2010 By Leave a Comment

Existing Home Sales Mar 2008-Mar 2010Existing Home Sales rose in March, as expected. U.S. home buyers closed on 7 percent more homes as compared to February.

Furthermore, versus March 2009 — a month many people equate to the low point of the U.S. economy — sales volume was up 16 percent.

“Existing home sale” is the technical term for a home resale; a home previously inhabited by a person.  It’s the opposite of a “new home sale” which is a sale of a newly-constructed home.

Existing Homes Data is tracked by the National Association of Realtors® and a closer look at the March data reveals some other interesting notes:

  1. Year-over-year sales are higher for the 9th straight month
  2. Real estate investors represented 19 percent of all homes purchased
  3. First-time home buyers account for 44 percent of all buyers

Also worth noting is that the supply of available homes is down on a broader basis.  At the current rate of sales, the existing home inventory will be exhausted in 8 months.

Despite banks releasing foreclosures and REO into the Mesa market, that’s still one half-month less from February.

When supplies drops, home prices tend to rise. It suggests an underlying strength in housing that should support home prices through the next few months — especially as the home buyer tax credit finishes working its way through the system.

That said, real estate markets are local. You shouldn’t assume that what’s happening on the national level is also happening here at home.  Be sure to check with your real estate agent about Arizona conditions before making a decision to buy or sell.

Filed Under: Existing Home Sales Tagged With: , ,

Top Reasons For Not Getting A Mortgage Loan Are Outlined In National Housing Survey

April 6, 2010 By Leave a Comment

Are you someone who has thought about becoming a home owner but believed that you could not afford a home due to the recent problems with the economy? Today in Mesa, there are many good buys on the market. However, many people feel they cannot afford to buy or that they cannot save enough for a down payment. Recently, a National Housing Survey from Fannie Mae has shown the four top reasons that will prevent future home buyers from getting a mortgage loan.

  • Poor credit.
  • Low income.
  • Lack of job security.
  • Insufficient money for a down payment.

The survey also questioned renters as to the reason they were not home owners. The top response was that renters felt their credit scores were not high enough to qualify for a mortgage. The second highest response was that they felt they could not afford a home or the upkeep involved with a home once they bought it.

Interestingly, the National Housing Survey did not show lack of confidence in the mortgage and housing industry despite all the reports of corrupt loan officers and mortgage brokers. It may be that as the economic outlook improves, home buying will increase as well.

Gains in the economy may help potential home buyers to improve their credit, seek higher-paying jobs, and save money for a down payment on a home. As states and cities recover from the recession, there could also be increased funding for down payment assistance programs for first time home buyers. As time passes and the effects of the recession begin to fade, it should allow more first time home buyers to realize their dream of owning a home.

Filed Under: Existing Home Sales Tagged With: ,

National Home Price Index Shows Improvement In A Majority Of Cities

March 31, 2010 By Leave a Comment

Case-Shiller Monthly Change Dec 2009 - Jan 2010

Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index’s tracked markets.

The strength of this month’s Case-Shiller report, however, should be put in context.

For one, the report is on a 2-month delay; it’s showing data from January, before the start of the Spring Buying Season and before the rush to beat the tax credit. Anecdotally, buyer interest has been strong since, leading to the types of multiple offer situations that drive home prices northward.

In other words, home values may be even higher than what’s reflected in the January Case-Shiller data above.

Furthermore, the Case-Shiller Index measures home values in just 20 cities nationwide and they’re not even the 20 biggest cities. Houston, Philadelphia, San Antonio and San Jose are specifically excluded from the report and each ranks among the country’s 10 most populous areas.

Despite its flaws, though, the Case-Shiller Index remains important. Much like the government’s Home Price Index, the private-sector report helps to finger broad housing trends and housing is still considered a keystone in the U.S. economic recovery.

Even if it’s two months slow.

Filed Under: Existing Home Sales Tagged With: , ,

Sales Of Existing Homes Stabilize, Gains Expected In Spring

March 24, 2010 By Leave a Comment

Existing Home Sales Feb 2008-Feb 2010As expected, Existing Home Sales fell in February, slipping 30,000 units versus January’s numbers. It’s the 4th straight month in which Existing Home Sales were lower, month-over-month.

An “existing” home is one that is previously owned and lived-in (i.e. not new construction).

Existing Home Sales peaked in November 2009, just as the First-Time Home Buyer Tax Credit was set to expire. Immediately thereafter, according to the National Association of Realtors®, monthly sales plunged 17 percent in December, then another 7 percent in January.

Comparatively, February’s dip is a modest 0.6 percent and is more in line with the pre-tax-credit Existing Home Sales trend.  The real estate market is rediscovering its normal.

But “normal” may not last for long.

When the federal home buyer’s tax program was extended last year, the new rules stated that home buyers must be under contract for their new, respective homes on, or before, April 30, 2010 in order to claim up to $8,000 in federal money.  That deadline is approaching and many markets — Mesa included — are experiencing a surge in buyer traffic as April 30 nears.

The Existing Home Sales data doesn’t reflect this new demand, nor the number of new contracts written. It only accounts for home closings and, in February, closings were down.

For today’s buyers, the market looks favorable. The federal tax credit is in place, mortgage rates stubbornly stick near all-time lows, and home prices are staying in check.

Existing Home Sales should gain through March and April, pressuring home prices higher. And, by the time the press reports the gains, the best deals in the city may already be gone.  Consider acting sooner rather than later.

Filed Under: Existing Home Sales Tagged With: ,

New Federal Short Sale Rules Could Bring Assistance To Homeowners

March 17, 2010 By Leave a Comment

With underwater mortgages and layoffs rampant these days, many people are looking at a short sale as a solution to their financial woes. Waiting for your lender to agree to a short sale can be frustrating, however. Now there is help on the horizon for homeowners. The Home Affordable Foreclosure Alternatives Program, or HAFA, will provide new short sale rules. This new Federal short sale program should assist in taking a lot of the confusion and frustration out of short sales and can help prevent short sale deficiency judgments.

New Federal short sale program – HAFA

The HAFA program was developed by Congress to put an end to the unpredictable short sale process by making a standard short sale process for all lenders, home owners and home buyers to follow.

  • At present, short sales are confusing, haphazard and inconsistent in lender response time and policies.
  • Some lender turn times are 30 days, others are as long as 90.
  • Potential buyers often get frustrated and move on to another property.
  • Homeowners shift back and forth from relief to panic: relief as they see a way out of their housing and credit dilemma and panic as their lender declines their short sale request.

Short sales from the lender’s perspective

Currently in Arizona, there is no deficiency judgment on a first mortgage, but one can be filed for a second mortgage if it was taken out after the first mortgage. The lender can also send a 1099-C to the seller and the seller must pay taxes on and report their short sale loss.

Effects on homeowners

If you receive a 1099-C from your lender, remember that the Mortgage Forgiveness Debt Relief Act of 2007 allows a waiver for this income if the you meet the guideline criteria. IRS Form 982 is the work sheet used to apply for the waiver.

The home seller’s credit will take a hit from a short sale, and there is a waiting period for most home sellers who go through a short sale before they are eligible to buy a home again. The waiting time is less than a Foreclosure or Deed in Lieu of. Fannie Mae’s waiting period is 2 years for short sales (4 years after a short sale if downpayment is less than 20%, and mortgage insurance is needed), 4 years for Deed in Lieu of, and 5 years for a Foreclosure. FHA now requires a 3 year waiting period whether the home buyer has had a short sale or foreclosure.

How HAFA can assist homeowners

As mentioned, in April the Home Affordable Foreclosure Alternatives Program (HAFA) goes into effect (it retires in 2012). This Federal initiative establishes uniform standards for all lenders. HAFA lays out the timetables, forms to be used, and expectations for the lenders, sellers and buyers. Provisions of HAFA prevent lenders from pursuing deficiency awards. Additional HAFA benefits include relocation incentives, standardized realtor compensation, and assistance with settling subordinate liens, just to name a few.

Short sales can be a good solution for troubled homeowners. The sale prices accurately reflect the market for the neighborhood, and home sales place a new homeowner onto the tax rolls while the property is in good condition. If HAFA can streamline this cumbersome process, it makes it a winning combination for all involved.

Filed Under: Existing Home Sales Tagged With: , , ,

Time Is Running Out To Cash In On The $8,000 Tax Credits

March 9, 2010 By Leave a Comment

7 weeks remain for the Home Buyer Tax Credit ExpirationIn November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years.

The credit ranges up to $8,000 per buyer. There’s now just 7 weeks left to take advantage.

To be eligible, home buyers in Mesa, Arizona must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.

In addition to meeting the deadline dates, there’s a basic set of requirements to be tax credit-eligible:

  • You can’t purchase the home from a parent, spouse, or child
  • You can’t purchase the home from an entity in which the seller is a majority owner
  • You can’t acquire the home by gift or inheritance
  • Each buyer in the purchase must meet eligibility requirements

There are other criteria, too.

For one, the sales price on the subject property cannot exceed $800,000. Homes sold for more than $800,000 are ineligible for the tax credit. Furthermore, households earning more than $125,000 as single-filers, or $225,500 for joint-filers, are ineligible.

You can read the complete eligibility requirements at the IRS website, or, you may just find it simpler to speak with your accountant about it. There are some nuances in qualifying for and claiming the tax credit on your returns and getting a professional’s opinion is always wise.

And lastly, don’t forget that government’s tax credit program is a true tax credit. It’s not a tax deduction.  This means that a tax filer whose “normal” tax liability is $3,500 and who is eligible for $8,000 in credit will receive a $4,500 refund from the U.S. Treasury.

If you’re currently in the House Hunt, mark your calendar for April 30, 2010. It’s 7 weeks away and you can be sure that as the date gets closer, buyer traffic is going to increase.  You may find sellers more willing to negotiate today than several weeks from now.

Filed Under: Existing Home Sales Tagged With: , ,
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