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June 2012

Found 6 blog entries for June 2012.

So you're underwater in your home in the Phoenix, Arizona metropolitan area....see if Harp 2.0 can help you instead of twiddling your thumbs and thinking, what to do, what to do.

  Help for underwater home owners harp 2.0
 If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA's Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply. To find out if you qualify for Harp 2.0, you must see if your loan is backed by Fannie Mae or Freddie Mac.

Here are the websites you can check to see

1,211 Views, 1 Comment

Want to be a Flipper?

That Real Estate Show talked to a "Re-Conditioner."

He buys, remodels  and sells.  Jim Wehmueller with Cherokee Developments joined us to talk about the business he's in.  He doesn't like to say he flips, hee likes to say "re-conditions."

They buy homes in South Scottsdale and Central Phoenix and have purchased 200 homes in the last two years.  He says most homes they buy are inhabitable and Jim says they believe they are saving neighborhoods.

Here are some before and after photos of one of the homes Cherokee Developments have remodelled.

Outside Before

 

Outside After

Kitchen Before

Kitchen After

Bathroom Before

Bathroom After

Fireplace before

Fireplace After

3,938 Views, 1 Comment

Buying a Phoenix area Arizona home?  Can you have both your dream home and a great mortgage payment at the same time.

That really seems to be the question for Arizona buyers looking for a house to buy or a condo.  Lisa the Lender writes that is the most important inquiry to resolve is what monthly mortgage payment do you qualify for and what is the best avenue to find out.  When you ask a licensed loan officer they will calculate payment to income ratios that will help you look in the optimal price range for your budget.  Fannie Mae and Freddie Mac are agencies that guarantee loans made by mortgage lenders.  Using your monthly gross income, their guidelines state that your monthly mortgage payment should not exceed 28%. 

a perfect mortgage payment  to go with your arizona home

Your monthly mortgage

2,586 Views, 1 Comment

So you're a landlord.  Now what?

You're place is underwater, way underwater.  You can't sell because you won't get what you want/need for it.

The payments may be a little too much for you.

So you decide, you'll rent a place for less than your motgage payment and then rent your home out.

Easy peasy, right?

Not so much.

Another familiar scenario.... you get married, engaged or move in together.

Now you've got an extra place on your hands.

You're not alone.

There are hundreds of people in the valley that have found themselves in a position they didn't really want on their resume....Landlord.

Linda Williams, my co-host, has coined the term "Accidental Landlords" for That Real Estate Show airing Saturdays at 3pm on News Talk 92.3

2,397 Views, 0 Comments

 

The phone rings.

“Can you show me property today?"

I guess most people think it’s a pretty easy job to show a house. 

I mean, how hard is it to unlock a door anyway?

Well there IS a lot more to it than that.

There’s actually a lot of preparation. It takes time to get properties ready.  Even just one.

I have made the mistake of agreeing to show property at the last minute or squeezing a client in between clients.

No bueno.

It all ends up bad.

You look like a dumb dumb.

I thought they’d appreciate the fact that I took them in at the last minute.  I thought they would understand what I had to go through to do this.

Nope.

They don’t.

And they don’t care.

The appreciation you’re looking for morphs into disdain. 

1,469 Views, 0 Comments


You have fallen in love with your dream home.

It has the rooms, the yard size you want, the sparkling pool. You can imagine whose room is going to be whose.  If you're a guy, you’ve got your man cave all staked out.

IT IS PERFECTION.

YOU want it bad.

Then you find out.

Shudder.

It’s a short sale.

The shudder is coming from me, your real estate agent.  I know what this is going to do to you.

YOU on the other hand, Shiver.

You shiver with delight because you are so in love with this house.  You’re about ready to sacrifice whatever to get it.

You have already convinced yourself you need this house.

And if you’ve ever tried to talk common sense to someone who is head over heels in love.....forget it.

It’s futile.

I

1,990 Views, 1 Comment