Real Estate News
Happy New Year – So Far So Good!
January 3rd, 2009 categories: Real Estate News
Okay, I realize I am a few days late to send this wish, however I have been BUSY! That is a great sign! Since New Years Day I have had 3 showings on one property, multiple showings on my other listings, an accepted contract on one house and two short sale approvals! Not too shabby.
I am not saying this to brag, I am truly most happy for those most affected, my SELLERS! During the dog days of November and December I kept stating that I felt first quarter of 2009 would bring “change” to the real estate market. I am not saying everything will be smelling like roses in right away, but I do think we will be approaching a bona fide “bottom” and I believe there are a slew of buyers waiting to purchase – and why wouldn’t there be!
Lets recap, mortgage rates are at 5 year lows, homes price are affordable and there is something for everyone out there. If you hear that the banks are not lending, don’t listen. There are plenty of good programs out there, you just have to know what to look for – and they don’t all require 20% down like I keep hearing buyers say.
Lastly, if you buy before June 30th, 2009, and you have not owned a home in the last 3 years, you are going to receive a $7500 TAX CREDIT! That is not a write-off, that is a tax credit. All the details of this can be founding by clicking here.
So, I am pleasantly surprised by what 2009 has brought so far. I know we have a have long road ahead, but it is a start!
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5 Reasons It Is A Great Time To Buy A Home in The Phoenix Market!
December 2nd, 2008 categories: Real Estate News
With mortgage rates dropping and the phoenix real estate market clearly reaching a bottom in many areas, I am strongly encouraging home buyers to take the plunge and buy. Of course this will be an individual decision for each home buyer, but here are 5 reasons why it may be the right time to buy now vs. waiting another 6-12 months.
- Mortgage rates today are 5.274% for a 30 year fixed mortgage. Mortgage rates have been over 6% for most of the past 2 years. This will save your monthly and lower the total interest you pay over your loan term.
- Homes are affordable again. Affordability is as high as it has been since 2003. The housing boom priced many people out of the housing market, but now there are clearly homes that are in line with the average family median income in Phoenix.
- First time home buyers will receive a $7,500 tax credit if they purchase a home before July 1, 2009. In this program, a first time home buyer is defined as someone who has not owned a home in the last 3 years. You can view all of the guidelines for the tax credit by clicking here.
- FHA down payment requirements will increase from 3% to 3.5% on January 1st, 2009 and FHA loan limits will decrease from $346,250 to $271,050 in Maricopa and Pinal counties. With FHA being one of the lowest down payment options, someone who is interested in a home more than $271,050 may want to secure a hone this month.
- Housing inventory is shrinking and days on market are falling, both indicators of a recovery. While we do have a long road ahead due to the economy, these indicators do reflect that in many areas we are at or close to bottom. Owning a home is very gratifying and trying to time an exact bottom of a market is challenging. One must consider other factors that make home buying a good decision; tax savings, low mortgage rates, payments going towards equity vs. rent, future appreciation and the comfort of having your own home.
If you would like to sit down and talk about whether or not it is a good time for you to buy now, please give me a call at 480.201.4185. I would to review the pros and cons for you and show you what is possible.
~Kim
Ready To Sell You Your Slice Of The Arizona Sunshine!
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Montevista By Toll Brothers – New Master Planned Community Near Desert Ridge
November 22nd, 2008 categories: Desert Ridge Homes, Real Estate News
Montevista by Toll Brothers is a new gated master planned community at Dixileta and 54th St. If you are familiar with the Toll Brothers community Aviano at Desert Ridge, then you will be familiar with many of the floorplans at Montevista. They have many of the same plans and series.
In total there are 5 series and 25 floorplans to choose from. Each series is located in the same area of the subdivision so there is a common theme in that area. Entry level base pricing at Montevista is $592,995. Both the Strada in the Ocotillo collection and the Borrego in the Palo Verde collection start at $592,995. The Strada is a 2 story plan and is 3,294 square feet. A two car garage is standard with this plan. The Borrego is also a 2 story plan and is 2,991 square feet. A split 3 car garage is standard with this plan.
The Desert Willow collection features homes from 3,150 – 4,369 square feet and prices in this collection range from $662,995 – $789,995. The Cottonwood collection has homes ranging from 3,402 – 4,639 square feet. Prices in this collection range from $725,995 – $784,995.
In 2009 the Cypress collection Read the rest of this entry »
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Grand Opening Blockparty at CityCenter at CityNorth – Tonight!
November 13th, 2008 categories: Desert Ridge Homes, Real Estate News
CityCenter CityNorth AZ, the much anticipated development in North Phoenix is celebrating the Grand Opening of High Street – Blockparty style! CityNorth refers to their project as a New City Rising and if you live in the area, that is what it definitely feels like.
CityNorth is designed to unite the best in city living, shopping, dining and working. The Blockparty is from 5-9pm tonight, November 13th. Subsequent events will be held through the weekend. You can go to the City North Block Party website for more details.
Join the party to tonight with live bands, food & drink, street performs, mariachi’s, clowns, sales & special offers, raffle prizes and a special Circle of Life exhibit presented by Disney’s The Lion King and The Phoenix Zoo.
Hope to see you at the party!
~Kim
Ready To Sell You Your Slice of the Arizona Sunshine!
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100% Financing is Still Available! Buy Your Home Now!
November 5th, 2008 categories: Featured Desert Ridge and Phoenix Real Estate, Real Estate News
100% financing is alive and well! It does have some limitations, but I have 3 listings that qualify for 100% financing. The folks at Sun State Homes Loans are doing a good job of helping buyers secure these loans that require no down payment. A full explanation of the program can be found here, Affordable100.com.
If you have heard that 100% financing does not exist anymore, that is the case is many instances. As with any other program this program has criteria that must be met. These loans are for designated areas that are more rural; places like Buckeye, Maricopa, Casa Grande, Coolidge and Queen Creek. As the borrower, you must have a 580 score or greater. All the criteria is listed on the website.
I currently have 3 properties that qualify, here is a sample of one:
23418 W. Pima, Buckeye – $119,900
5/3, 2 CG, 2154 sf, Built in 2004
Zero Down, Est. Payment $1068.20*
If you would like more information about these properties, give me a call or send me an email. They are also listed in my Featured Properties section so you can review more pictures and details. If you have questions about whether or not you would qualify for this program, I encourage you to go to Affordable100.com and apply on the website.
* Monthly Payment is an estimate only and are subject to buyer qualification and rates and confirmation of taxes & insurance amounts.
- Kim
Ready To Sell You Your Slice of the Arizona Sunshine!
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Taste of Cave Creek Event – September 25th
September 11th, 2008 categories: Real Estate News
On September 25, 2008, the Town of Cave Creek and the Cave Creek Merchants Chamber of Commerce will c0-host the “Taste of Cave Creek”. This event will run from 6:00pm – 10:00pm at Stagecoach Village.
The “Taste of Cave Creek ” will feature taste samplings from nearly 20 restaurants in Cave Creek. The evening will also feature cooking demonstrations, wine tastings & live music from rock band EastonAshe and country band Rendazous. Many artists will display original art work and photography as well.
This is the 8th year for “Taste of Cave Creek” and this is an event that you will not want to miss as there is a little something for everyone. Tickets are $25.00 per person. You can receive more information about events, location and where to buy tickets by visiting the Cave Creek Chamber of Commerce.
Events like these are just one of the reasons why we just love the Cave Creek life!
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What Is In Your Realtor’s Toolbox And Why You Should Care?
July 22nd, 2008 categories: Real Estate News, Seller Financing
Is your Realtor well equipped to tackle today’s real estate market? Real Estate 2.0 can be defined as the business revolution in the real estate industry caused by the move of the Internet as platform and understanding the rules of success on that platform.
To be on the forefront of this, a Realtor should be participating in Social Networking & Blogs. Realtors should be utilizing Real Estate 2.0 to procure buyers and sellers and expose properties. I spend 1-2 hours a day working on my blog and researching the technology that will allow me to offer the best solutions for my buyers and sellers.
Today a Realtor must have a strong knowledge base on Foreclosure Law, Short Sales, Finance & Market Data. Sellers are presenting challenging scenarios to Realtors and the good ones know how to present solutions. Another tool today that a good Realtor will have is the ability to structure Seller Financing. Read the rest of this entry »
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Sonoran Villas Offers Luxury Condo Living in Cave Creek, Arizona
April 30th, 2008 categories: Real Estate News
Sonoran Villas is a 15 unit luxury condo community located at the base of Black Mountain in Cave Creek, Arizona. Located in the heart of the town, residents will be able to walk to nearby shopping, restaurants, bars and galleries.
The community was developed with the intent to create a unique and luxurious enclave of homes among the beautiful Sonoran Desert. The homes also feature the Energy Star Certification for an energy efficient and eco-friendly home. Read the rest of this entry »
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Retired? Should You Buy In An Active Adult Community?
April 24th, 2008 categories: Real Estate News
Many baby boomers are retiring now or are planning for their retirement in the next few years. A question for many in that group is, “Where do I want to live”? With the children grown and gone and the opportunity for travel during the retirement years, many are looking to “downsize” their homes.
The next questions are to what and where? After working with and knowing many people who are faced with this decision, I am a strong proponent for Active Adult Communities.
An Active Adult Community can be defined as Read the rest of this entry »
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The 5 Elements That Make A Home Green
April 24th, 2008 categories: Real Estate News
With all the buzz about Green Living, it is important to understand the elements of building a Green Home. The 5 elements of Green Building are Energy Efficiency, Water Savings, Sustainable Site Development, Materials Selection and Indoor Environmental Quality. Read the rest of this entry »
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