Op Ed

Update: Home Buyer Tax Credit

Buyer Help

It looks like the fat cats in Washington, D.C. will pull it together and extend the home buyer tax credit. But it’s really anybody’s guess. Here’s a Facebook message I sent just a few minutes ago to a friend who asked. Q: Will the tax credit be extended? A:  My gut says probably. Handing out [...]

4 November 2009 Read the full article →

Stop the Insanity!

Foreclosures

image courtesy of Stock Exchange user PinkDragon We made an offer yesterday for our first time buyer client on an adorable little starter home in Glendale.  It’s bank owned. It’s listed for $109,900. All the appliances are there, seem to be in working order and the house is move-in ready. We looked at the comps, [...]

23 September 2009 Read the full article →

Multiple Offers and “Winning” the Bidding War

Mortgages

Ever hear that old saying “win the battle but lose the war”?  That might be the case for buyers submitting multiple offers on different homes in an attempt to “win” the bidding war. What? Here’s the thing. The house you “won” the bidding war at has to appraise for the agreed-upon purchase price. Appraisers can [...]

1 September 2009 Read the full article →

Short Sales are a Stalling Tactic?

Short Sales

Short sales are a stall so that the lender can make their 3.5% risk free returns on the TARP cash we the taxpayers gave them without conditions. They are guaranteed profits upon which to earn bonuses and the housing market is still suffering. The short sale charade is a cruel joke on the unsuspecting owner [...]

26 August 2009 Read the full article →

HOAs Get Creative To Beat REOs

Real Estate Contracts

image courtesy of StockExchange user mzacha Homeowners Associations (HOAs) get knocked about pretty badly when a foreclosure happens in their association. They lose a good deal of money they budgeted to collect. 1. Typically the homeowner losing their home stops paying the regular HOA dues long before they actually get foreclosed on. Buh-bye money. 2. [...]

19 August 2009 Read the full article →

1-888-336-5967, well maybe not

Short Sales

Didn’t get to call the Discount Mortgage Relief.com folks today as promised. Could have had something to do with the fact that Chris and I spent today showing 3 homes located 1 hour from our office, pulling comps on 2 of them, talking to 2 lenders and a 1/2 dozen Realtors, nabbing one deal and [...]

30 July 2009 Read the full article →

1-888-336-5967

Short Sales

“You have reached The Mortgage Relief Hotline.” You’ve probably seen the commercials on your TV lately too. “STOP FORECLOSURE” they scream at you. “GOVERNMENT PROGRAMS HELP YOU!” One of these caught my eye tonight because it never mentioned the name of the company that was offering the help. I thought that was scary so I [...]

29 July 2009 Read the full article →

Are REO Deals Breaking Contract Law?

Foreclosures

See my original post about the great. Big. Fun! you can have while shopping for REO foreclosure properties and how the banks can change your contract closing date whenever they feel like it. Today I found a a new wrinkle while I was reviewing the FAQs on an REO listing. This is a true gem: [...]

24 July 2009 Read the full article →

New Homes Being Built Smaller

In The News

USA Today is reporting a decline in the size of new homes being built (the first significant decline in over 30 years), citing multiple sources and surveys.  Homes started in the 3rd quarter of 2008 averaged 2,438 sq ft, compared with 2,629 sq ft in the 2nd quarter. My guess is that this trend will [...]

10 January 2009 Read the full article →

Will You Work for Free?

Foreclosures

Got an interesting comment on one of my recent posts. It seemed to be from a investor interested in working with me to find and buy foreclosure homes. Being the dutiful Realtor that I am, I emailed him back and setup a customized MLS search that would email him whenever new foreclosure homes hit the [...]

10 September 2008 Read the full article →

Peoria Assigns Value to Water for Land-Use Plans

In The News

Beginning in January, Peoria will become the first city in Arizona to allocate water to new projects based on criteria other than “first come first served,” as reported today on AZCentral.com. Their goal is to maintain the city’s general plan, which would have more commercial and industrial development along the 303 and other major crossroads, [...]

26 November 2007 Read the full article →