Representing Arizona's Finest Properties
Uncertainty because it is difficult, if not impossible, to have a clear picture of the market. National and even regional news only report on the big picture. And while the big picture mat- ters to overall market confidence and conditions, to borrow from the old adage, all real estate is local. So what’s really going on in your … [Read more...]
A recent article in the Phoenix Business Journal profiled several real estate agents building "spec" homes (speculative, built without a specific buyer) - in the middle of the worst housing market in history. While it sounds crazy given the national abundance of housing, it may be surprising to learn that there is actually an acute shortage of … [Read more...]
Yesterday Congress came closer to raising the jumbo loan limit back to its 2008 peak of $729,750 after letting it fall to $625,500 on October 1st. Abundant press coverage suggested the drop would further harm a lifeless housing market, with the National Association of Home Builders announcing that more than 17 million homes could be affected. … [Read more...]
If you’ve been keeping up with the news you may have heard about a new 3.8% sales tax on real estate transactions. It’s said to “only affect a very small number of Americans,” however most of my clients fall into that category and so I wanted to make you aware of it. It was included in the new federal health care legislation. I’ve … [Read more...]
In our previous article I explained short sales and why they’re becoming more popular. This issue, I wanted to get a little deeper into what lenders want to see before approving a short sale. The biggest one is a true hardship. A costly medical disaster is often given as an example, or a loss of a job. What lenders want to believe is that you … [Read more...]
Just about everyone has heard of short sales by now but our office still fields questions about them regularly. If you’ve been facing financial difficulties and are unable to continue paying your mortgage, a short sale may salvage your credit by keeping your home out of foreclosure. Put simply, a short sale is when a house sells for … [Read more...]
Since the housing market crash and decline on Wall Street, Paradise Valley average home values have plummeted approximately 40% from their high. Scottsdale averages have seen a 34% decline over the same time period. Our office has quite a few listings that came to us after languishing on the market for a year or two, hoping to attract a … [Read more...]
Upon hearing that a seller may have to short-sale their home, the next question is always: “But what will it do to my credit?” The answer is: It depends, and anyone that claims to have a one-size-fi ts-all answer simply doesn’t know the intricacies of the process. In some fortunate instances, a short sale will have no effect … [Read more...]
