Friday, December 30, 2011
Sunday, December 25, 2011
Friday, December 23, 2011
ã•£ 5 Bedrooms ★ Gilbert ★ 3082 sq/ft
Across from a big beautiful park with sport court, volleyball, playground, ramada, BBQ and benches! Custom home quality backyard wonderland & party heaven, 'billiards room' next to giant family room, fence pebble texture pool, heated spa, 5 bedroomds, 3 baths, fire fit, built-in backyard island bar for cookouts, raised veggie garden w/stone walls/bench, built in fit for ground level trampoline, lots of green grass, extra deck for events, lighting for evening romance, variety of healthy fruit trees, rv gate & storage area, 3 car garage w/worl benches & garden exit dorr, new carpet, fresh paint, flashy granite kitchen with granite island, new lighting, new fans, wood floors, new 20' tile, downstairs has bedroom with full bath suite. REGULAR SALE! FAST CLOSE OK! This property is listed by Jeanne Welnick under Keller Williams Sonoran Living.
School District: Gilbert Unified District
- Elementary: Ashland Ranch
- Jr. High: South Valley
- High School: Campo Verde
* Important Disclosure: The property is available at the time of this ad creation. It is very possible that an offer has been submitted or even accepted since that time. If you are interested in this property, Please call 480-721-6253 to check on its current availability.
Wednesday, December 21, 2011
Have Cold feet can lead to regrets. It is called a “buyer’s market” for a reason!
In life it is better to say, "I'm glad I did" rather than "I wish I had."
Make your list of your wants and needs for your dream home. We can go over them together. There are many new tools for first time homebuyers to help with financing, etc. It costs you nothing to discover your options. Call me today before someone else is living in your dream home. |  | ||||
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Keller Williams Realty Sonoran Living
4621 E Chandler Blvd Suite 160 Phoenix, AZ 85048 |
Each Office is Independently Owned and Operated
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The Birth of Christ In Light and Music @ Mesa Temple
For over 25 seasons, the historic Mesa Temple with its beautifully manicured grounds has become the backdrop for a Christmas celebration of lights and music. This season, 750,000 colorful lights will blanket the front and garden areas at the Temple Visitors' Center. Free parking is available south of the Temple in adjoining parking lots and on neighboring streets.
Date: November 24, 2011 - December 31, 2011
Location: Mesa Arizona Temple Visitors Center
Address: 525 E. Main St., Mesa, AZ 85201
Times: 5:30 to 10 p.m.
Admission: Free
Website: mesachristmaslights
Monday, December 19, 2011
Negotiating Multiple Offers
Negotiating multiple offers
New homes on the market that are priced right and in tip-top condition very typically receive multiple offers.
I am trained and experienced in working in these fast-paced situations. When you see a home you are seriously considering, contact me immediately so we can be prepared to make a solid offer quickly. As they say, the early bird gets the worm. |  | ||||
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Keller Williams Realty Sonoran Living
4621 E Chandler Blvd Suite 160 Phoenix, AZ 85048 |
Each Office is Independently Owned and Operated
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Tuesday, December 13, 2011
Home Prices vs. Mortgage Rates
Obviously, both are very important not only in terms of whether you should buy (from an investment standpoint), but also how much house you can afford.
Mortgage Rates Still Low
At the moment, mortgage rates are very close to historic lows, with the popular 30-year fixed-rate mortgage averaging 4.55 percent last week, according to data from Freddie Mac.
But while rates are low, home sales are still pretty flat, thanks in part to high unemployment, a lack of consumer confidence, and perhaps inflated home prices.
Yep, even though home prices are well off their housing bubble peaks, many feel they’re still inflated.
This is made clear without the use of home price indices, fancy calculators and algorithms…just take a look at some listings and you’ll think home sellers are nuts for asking so much.
Problem is most of them are asking for prices below their mortgage balance (short sale) and still aren’t getting any bites.
Home Prices Inflated
You can’t really blame them, as most bought during the boom at ridiculously inflated prices or bought pre-boom, and subsequently refinanced to tap into all that wonderful home equity.
Getting back on point, home values have lost about a decade’s worth of appreciation, and are currently coupled with near-record low mortgage rates.
Home prices are predicted to be pretty flat over the next several years, but mortgage rates are expected to rise.
So should you buy now while rates are low and prices have foreseeable downward pressure, thanks to all that distressed/shadow inventory and lack of confidence?
Or should you wait it out and let home prices hit bottom first?
Well, first things first, it’s nearly impossible to buy at the bottom. Anyone will tell you this, whether it’s a home or a stock or anything else.
Predicating the absolute bottom, or even close to it, can be a tall order.
Home prices are also regional and local, so it’s not like home prices have fallen by the same amount throughout the country.
And not all home prices in the nation can be designated as cheap, average, or expensive – they vary tremendously.
At the same time, it’d be hard to argue that mortgage rates nationwide aren’t super low and only expected to rise.
That said, let’s look at a scenario where mortgage rates rise and home prices slump.
Example:
Sales price: $400,000
Loan amount: $320,000 (20% down = $80,000)
Mortgage rate: 4.50%
Mortgage payment: $1621.39
Total paid: $583,700.40
Now say home prices fall 10 percent over the next year or two, while mortgage rates rise from 4.50 percent to 6.00 percent, which isn’t necessarily unlikely.
Sales price: $360,000
Loan amount: $288,000 (20% down = $72,000)
Mortgage rate: 6.00%
Mortgage payment: $1726.71
Total paid: $621,615.60
So as we can see, buying the home at the current higher price with the lower mortgage rate results in both a lower monthly mortgage payment and significantly less interest paid throughout the loan.
That could also make qualifying easier with regard to the debt-to-income ratio requirement.
However, the down payment is $8,000 higher on the more expensive house, which could prove a barrier to homeownership if assets are low.
But we’re still looking at savings of roughly $30,000 with the larger, yet lower-rate mortgage.
Hopefully this illustrates the importance of low mortgage rates. Of course, there are a ton of variables that can come into play.
Most people move or refinance within seven years or so, making the interest savings unclear.
There’s also the thought that once interest rates rise, they’ll put more downward pressure on home prices, meaning property values today are artificially inflated based on the low rates, which has somewhat increased demand.
And who knows, maybe rates will stay relatively low and home prices will fall even more than expected over the next few years.
via TheTruthAboutMortgage
via TheTruthAboutMortgage
American Dream Homes Turn Green
Despite historic problems plaguing the U.S. housing market such as tumbling values, record foreclosures and tight credit for buyers, a new Yahoo! Real Estate survey of current and aspiring homeowners indicates that owning a home is still a major part of the American dream.
But, unlike bullish years gone by, the so-called American dream home isn’t a supersized McMansion – it is a “green,” energy-efficient home built with “sustainable” materials that yield a lower carbon footprint. Or, more often, it is a home remodeled with energy-efficient appliances and eco-friendly home products.
Four out of five of those polled in a Yahoo! Real Estate study of 1,545 U.S. adults say that owning a home is still a part of the American dream. The Yahoo! Home Horizons 2012 study, fielded on the Web in October, is mapped to the American population of homeowners, buyers, sellers and renters.
The study finds that optimism about homeownership is widespread despite the massive downturn that has so far claimed six million homes in foreclosure and threatens to sink even more in the future. Yet, given the record inventory and dropping housing prices, buyers realize that their dream home is more attainable. In the study, 72% of homeowners and renters believe that they live in their dream home, or it will be their next home, or they will own it someday.
Yet, there is a growing consensus that the dream home must be more energy efficient. Take Marilyn, a middle-aged renter in Topeka, Kan. who is in the market to buy a home. She says that her conception of a dream home has evolved in the past five years. She seeks a brick house with four bedrooms, a large kitchen and “environmentally efficient appliances to conserve energy.”
Green Dreams
But, rather than build or buy new homes, many eco-conscious homeowners seek to lower their carbon footprint by purchasing more energy efficient appliances or making other home modifications that may include the addition of solar panels to offset other energy costs.
According to the Home Horizons 2012 study:
- 50% of people consider green/energy efficient appliances/materials are a requirement of their dream home – it is more popular than perennial favorites such as “building a custom home” (38%); “water views” (38%) and “mountain views” (32%);
- 60% of those in the market say that green/energy-efficient appliances are amenities they’d like to have in their next home;
- 27% of those in the market say that looking for a greener, more energy-efficient home is a significant reason they want a new home.
Asked about their dream home, respondents indicated that they like various styles of home, but size was also a factor. One woman surveyed said that her dream home is “Small, environmentally friendly, very energy efficient.”
Higher Cost of Green
Although green homes are designed produce a smaller carbon impact that result in reduced home energy costs, even advocates concede that they have garnered a reputation as more expensive and not a little bit eccentric.
“Green homes have gotten a bad name because most stories are told about super energy efficient homes,” explains Sarah Saranka, architect and author of several “Not So Big House” books. Hyper-efficient, eco-friendly homes, the ones most closely associated with green living, “consume almost no energy – they’re essentially off the grid,” she says.
But there’s an emerging class of green homes that reduce energy consumption in cost-effective ways, yet haven’t drawn much attention because “they’re not astounding,” says Saranka. “Yet, they’re in the realm of possibility for an average home buyer.”
Increasingly homebuyers are willing to pay a bit of a premium for green or energy-efficient homes. The National Association of Home Builders (NAHB) says that baking in green construction materials and energy-efficient appliances typically adds 2% to 4% to construction costs, but that can translate to higher sales prices depending upon what local markets will bear.
To some extent this rise in interest by consumers is arguably a surprise considering that there are few if any standards about what constitutes a ‘green’ home, apart from the widely accepted EPA Energy Star standards for appliances. EPA is now moving into certifying homes. Energy Star-certified homes are reportedly 20% to 30% more energy efficient than standard homes according to the EPA – leading to average savings of about $200 to $400 per year on utility costs.
Yet, industry groups such as NAHB and organizations such as U.S. Green Building Council (USGBC) with its LEED, or Leadership in Energy and Environmental Design certifications, also seek to popularize certifications and guidelines, which may help build trust for consumers wading into uncharted waters and provide direction to the home industry itself. You can even find some green-certified realtors in certain pockets of the country.
A Greener Future
For about one in four of those surveyed in the Home Horizons study, living in a more energy-efficient home is a major reason why they plan to move. In support of this groundswell of interest, the government offers a small tax incentive to spur growth in demand for energy-efficient home materials and appliances.
Homeowners can earn up to a $500 U.S. tax credit for making energy-efficient upgrades by Dec. 31st in one or more of these areas: home insulation; windows, doors and skylights; and non-solar water heaters among other projects, according to the Alliance to Save Energy.
Still, there are plenty of other reasons why people plan to move in 2012 and it’s not all about saving on energy costs or living on a more sustainable planet. Nearly half of those planning to move simply want to live in a larger space or in a home better suited to their “life phase.” And some want to live closer to public transportation, city services or their job.
“During the height of the housing boom there was [an attitude among buyers of] drive until you qualify and I don’t care about the consequences of commuting time,” says Stan Humphries, chief economist at Zillow. “Now people are aware of the cost of commuting personally in terms of time, resources and gas, but also longer term about environmental degradation.”
Though 57% of homeowners and renters say they are very satisfied with where they live, some homeowners may never be completely satisfied with their home. “I recently bought my dream home, but there are always things that could be done to improve it,” one respondent said. “We need décor more than anything. And a hot tub, wine cellar, basement bar, laundry sink, and patio.“
With a record number of foreclosed and short-sale properties crowding the market, and historically low interest rates available to those buyers with outstanding credit and a sizable down payment, there has rarely been a better time to buy.
The Yahoo! Real Estate Home Horizons study indicates that 2012 is the year that demand for green homes, energy-efficient appliances and low-carbon impact home building materials reaches a tipping point in America.
Monday, December 12, 2011
Seville Real Estate and Homes for Sales Gilbert 85298
Seville Real Estate and Homes for Sales Gilbert 85298
Seville, Gilbert AZ - Deluxe Neighborhood for Every Lifestyle
Located in south Gilbert, Seville is a unique and beautiful golf course community. It features an 18 hole course that gently winds its way throughout the community. Many Seville homes offer charming fairway and mountain views. This family-oriented community has numerous walking and jogging paths and most homes are located by nearby greenbelts or parks. This master planned community is made up of more than 20 smaller neighborhoods that feature a variety of property types, from inexpensive for the budget-conscious to gated communities that provide you with added peace of mind. Seville truly offers something for everyone.
Seville Facts:
- Mediterranean Influenced Architecture
- 18 Hole Championship Golf Course Designed By Gary Panks
- Sports Club Fitness Center With Child Care & Lockers
- Community Multiple Pool Facility With Waterslides
- Outdoor Basketball, Tennis & Sand Volley Ball Courts
- Bolero's Contemporary American Restaurant & Bar in Club House
- Walking, Biking Trails and 14,000 citrus trees throughout The Community
Click here to view Homes for Sale in Seville, Gilbert 85298
Thursday, December 8, 2011
Holiday Balloon Glow December 10, 2011 4pm - 9pm
Inaugural Balloon Glow at SanTan Village on December 10 from 4pm – 9pm. It’s an evening of live music, a kids play zone, great eats, tethered hot air balloon and a Salvation Army toy drive.
LOCATION: San Tan Village (Corner of Williams Field Rd. & SanTan Village Parkway)
EVENT TIMES:
4pm – 9pm: Kid Zone, Food and Salvation Army Toy Drive (Receive a goodie bag with SanTan Village discounts with each toy donation. While supplies last.)
4pm – 6pm: Come Back Buddy Musical Performance
4pm-6pm: KNIX Radio
5:30pm – 8pm: Tethered Balloon Rides
6pm-7pm: Gilbert Fire Department Fire Truck
6pm – 8:30pm: Balloon Glow
6pm – 9pm: Peppermint James Musical Performance
PRICES:
Entrance Fee: $0
Tethered Balloon Rides: $25 per adult; $15 per child; ages 0-8 (recommended for ages 5 and up)
Kids Zone: $1 per ticket or $20 for a book of 25 tickets (ride tickets amounts will vary)
EVENT SPONSORS:
The Arizona Republic
AZ Magazine
KNIX
Four Foreclosure Financing Myths
The word is out: it’s harder to get a mortgage, maybe impossible. Lenders are clamping down, particularly on financing for foreclosure purchases. Just about everyone says so. Since this is a “fact” why bother to buy real estate when you can't get financing?
Well, maybe not a fact. Maybe tales of mortgage woes are exaggerated. Or, maybe they're not true at all. To illustrate, below are four commonly believed myths about financing (particularly foreclosures) that simply aren't true.
Myth #1: Most buyers use cash, not financing
The National Association of Realtors reports that existing home sales in July were running at an annualized rate of 4.7 million per year. About 29 percent were all-cash deals, meaning some 3.3 million properties will be financed this year. That's a lot of people who somehow are using the mortgage system.
Mortgage bankers are making loans — and big profits when they do. Profits per mortgage in the second quarter reached $575, up from $346 per loan in the first quarter, according to the Mortgage Bankers Association.
Of course, if mortgage bankers don't make loans they don't collect that $575 per successful borrower, reason enough to encourage all possible applications.
Myth # 2: Qualifying for a home loan is tougher than ever
There's no doubt that the mortgage application process has changed in the past year. Whether it's gotten “tougher” depends on the comparison being made.
If we compare today's underwriting standards with the joyous and carefree period from 2002 through 2006 then yes, you bet loan applications have gotten tougher. However, if we compare today's process with loan requirements in the 1990s; underwriting standards for Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans; or the loan requirements typically set out by community banks, credit unions or small S&Ls then no, lender demands have been fairly consistent.
So what's happened? Why has lending gone back to the good-old-days of fat loan files and lots of verifications?
Wall Street Reform has given lenders a choice: They can originate option ARMs and allow borrowers to apply for financing with a no-doc loan application — but only if they're willing to set aside 5 percent of the loan amount in a reserve and expose themselves to the possibility of borrower lawsuits. Or, they can make loans without the reserve requirements or liability if they simply originate mortgages within the safe harbor created by the new rules.
Loans within the safe harbor are called “QRMs” or qualified residential mortgages. QRMs include FHA, VA and conventional financing — in other words, sane and safe mortgages without “gotcha” clauses.
The “new” loan standards required under Wall Street Reform are hardly outlandish. For instance:
- The lender must show that the borrower has an ability to repay the loan based on current income.
- The lender must verify borrower income claims with tax returns, W-2s, etc.
- The lender must verify the borrower's employment.
Huh? Why would anyone voluntarily want to use a full-docs loan application when you could get a stated-income loan (SIL) with a lot less paperwork and hassle?
The answer is money. As Wharton professor Jack Guttentag, explains, a stated-income loan today might require an interest rate that's 4 percent higher than a fully-documented mortgage application. That's a huge additional cost over the life of the loan.
Myth # 3: The typical borrower no longer qualifies for conventional financing
DBRS, a provider of credit rating opinions for financial institutions and other large-scale entities, has produced an interesting chart that compares prime mortgage underwriting standards for 2007 and 2011.
The chart plainly shows, among other things, that credit score requirements have increased while maximum loan amounts have declined.
These are good examples to illustrate changes in the lending system — and also that such changes are often irrelevant.
For instance, the basic prime loan credit score has gone from 620 to a range of 680 to 720. But so what — the typical FHA borrower has a 699 credit score and FHA loans are not prime financing.
As to maximum loan amounts, they've dropped from $2 million in 2007 to $1 million today. This just doesn't impact a lot of people. The typical buyer paid $174,800 for an existing home in July.
Not only is financing readily available, there's a very good reason to finance and refinance today: Money is incredibly cheap.
Freddie Mac reports that loan rates for both fixed and adjustable financing have slipped to levels unseen during the past 50 years.
“When you look at the realities of the marketplace it's hard to ignore the growing myths and stories which now surround the lending process,” said James J. Saccacio, chief executive officer of RealtyTrac. “How many people have been discouraged from buying or refinancing because of lending rumors and fictions?”
Are opportunities in selected markets and with selected properties being missed because of inflated application worries? Arguably that's often the case because not only are interest rates low, so too are home values. For instance, the Federal Housing Finance Agency — the government body that oversees Fannie Mae and Freddie Mac — says at the end of the second quarter that home prices were 18.8 percent lower than in April 2007.
“Not only are home prices generally stalled in most markets, prices for foreclosures and short-sales are particularly depressed,” said Saccacio. “Our foreclosure sales report for the second quarter showed that foreclosed or bank-owned homes were typically priced 32 percent lower than the average sales price of homes not in foreclosure."
Which leads us to our fourth myth.
Myth # 4: Financing is not available for foreclosure properties
Financing a foreclosure purchase at the courthouse steps is famously not available in most states. Typically the winning bidder is required to pay the full amount in cash — often on the spot in the form of cashier’s checks.
But that is not true when it comes to purchases of bank-owned properties (REO) or pre-foreclosure properties (typically short sales), which together account for the vast majority of foreclosure-related sales. REO sales alone accounted for nearly 20 percent of all sales nationwide in the second quarter. Although cash offers are common when it comes to REO sales and short sales, they can also be purchased with conventional financing — and often are.
Veteran real estate investor, author and trainer Andy Heller believes Fannie Mae and Freddie Mac may have gone a bit too far in restricting investor loans in the past few years, but that doesn’t mean financing is an insurmountable obstacle for investors.
“Many people tend to focus on obstacles when they invest, and one of the biggest obstacles they focus on today is financing. There will always be obstacles and as a seasoned investor I will take today hands down over three or four years ago,” said the 20-year investing veteran, explaining that a few years ago investors were scrapping for meager discounts of 5 to 10 percent because of intense competition from other buyers and investors, driven largely by loose lending standards.
“Without a doubt I would prefer challenging financing conditions and bigger discounts because the discount is your security blanket and your profit.”
Heller said financing options are still available for all different types of investors: newbies with little cash or credit, average investors with some cash and credit, and seasoned investors looking to expand their portfolio beyond the 10-property limit set by Fannie Mae.
“Investors today will need to be a good bit more creative than three years ago. But it is certainly worth it if the end result is significantly greater discounts,” he said.
by By Peter G. Miller and Daren Blomquist, November 28, 2011 via RealtyTrac
Wednesday, December 7, 2011
Call me today for Best Buy List
This real estate market can be overwhelming. As your local real estate economist and expert, I can help you with a Real Life Perspective.
Call me for my updated "Best Buy List" to help move you closer to your dream of home ownership. They call it a "Buyer's Market" for a reason! |  | ||||
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Keller Williams Realty Sonoran Living
4621 E Chandler Blvd Suite 160 Phoenix, AZ 85048 |
Each Office is Independently Owned and Operated
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Tuesday, December 6, 2011
Important Holiday Decorating SAFETY Checklist
Christmas is my favorite holiday. It’s a busy, chaotic time of year but you get to enjoy lots of fun activities with friends and family, things that you rarely do the rest of the year. My family teases me because I love playing Christmas music for months. Everyone has their personal favorite traditions and they change over time, i.e. my boys always hung the outdoor lights but they’ve grown up and now we visit them for the holidays.
It’s easy to get distracted during the holiday season. You know you want to decorate the house and you know when you’re done because you can see the results. This checklist helps you keep track of special holiday activities that aren’t part of your day-to-day routine. The focus of this checklist is home safety — keeping you, your family and guests safe during the holiday season.
Decorating Your Home Outdoors
Lots of homeowners love putting up displays in front of their home … and some of us just enjoy driving through the neighborhood to enjoy other people’s homes. Here are tips for keeping your home safe outdoors.
- Plan your outdoor holiday lighting ahead of time but why? Unless you’re using solar powered lights or new LED lights that draw very little power (read Save Energy with LED Christmas Lights), you need to map out where to plug in your lights or you run the risk of causing a fire.
- Put together your holiday hanging kit, focusing on materials that you can leave up and reuse year after year. Use stainless hooks and screws plus floral wire and plastic cable ties to hang your decorations. Only use extension cords rated for outdoor use.
- Unless you work on a ladder frequently, don’t do it. Following a 3 year study, the Centers for Disease Control and Prevention (CDC) reported that almost 18,000 people ended up in emergency rooms due to holiday decorating falls … and it’s estimated the total number of injuries is 2 to 3 times this number.
- Save energy using timers to control your holiday lights. Preset them to turn the lights on and more important, turn them off so there’s no concern when you’re traveling or already in bed.
Christmas Trees to Light Up the Indoors
Stepping indoors, the first thing you are likely to focus on is your Christmas tree. Here are tips for buying, setting up and decorating your tree.
- Buy your live tree early as cut trees dehydrate and you’ll can do more to keep your tree fresh than most sellers.
- When buying your tree, check to see how fresh the tree is by running your hand along a branch to see if the needles are soft and remain attached. If the needles shed easily, don’t buy the tree.
- When you get home, don’t bring the tree inside. Keep the tree where it’s cool, i.e. outside or in the garage. Cut the tree trunk and sit it in a bucket of water.
- When you’re ready to decorate the tree, cut the trunk and place it in the stand and immediately fill the stand with water. You’ll need to add water every 1 to 2 days to keep your tree fresh.
Creating a Safe Holiday Environment
We'll assume our homes are safe until something happens. Here are tips to keep your home, your family and guests safe during the holidays.
- Install several light timers to make your home appear occupied even when you’re not home.
- Greet your guests with well lit walkways so be sure to check your exterior lights, and changing light bulbs requiring a ladder is a good thing to do when putting up holiday lights.
- Remove anything that might cause a fall. Handrails need to be secure and pick up rock salt or similar de-icer if you frequently have ice on your walkways.
- Provide a place for family and guests to sit when removing or putting on boots.
- Often lighting up the fireplace is a last minute thought. Prepare your kindling now and buy a box of 11 inch long, fireplace matches.
- If you don’t have small children but expect some to visit over the holidays, walk around the house and add childproofing with cabinet locks or simply moving things like cleaning supplies and medicines up high.
