Desert Premier Realty Group

43576 W Bravo Court Maricopa, AZ 85138 – Rancho El Dorado

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  • 43576 W Bravo Court Maricopa, AZ 85138 – Rancho El Dorado
  • Rancho El Dorado Subdivision
  • Private Pool
  • 3 Bedroom 2 bath home
  • 1902 Square Feet

When we say Move-In-Ready, we mean it! Take a look at this stunning Engle built home in the Golf Community of Rancho El Dorado! This 3 bedroom, 2 bath home is one of the most popular floor plans with split floor plan, 9′ Ceilings and a Great Room feel, perfect for entertaining indoors and out! Your HUGE Master bedroom has Double Sinks, separate Show er and Tub and large Walk-In Closet. Interior features include Custom Paint, Tile in all the right places, huge Laundry Room w ith Cabinets and Wash Sink, Central Vacuum, Water Softener, Security System, Pre-Wired for Surround Sound, Large Kitchen w ith 42″ Upgraded Cabinetry and Huge Breakfast Bar! Let’s have some fun in your backyard with heated pool, large Covered Patio, Built-In Gas BBQ and Custom Firepit! Come take a look, you’ll love it!

www.DesertPremierRealtyBlog.com
www.SearchMyAzHome.com

 

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6633 E. Regina Street Mesa, Arizona 85212

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6633 E. Regina Street Mesa, Arizona  85212 – Manors at Red Mountain

 

 

Tour this home for sale at 6633 E. Regina Street Mesa, Arizona  85212.

  • Manors at Red Mountain
  • 3 Bedrooms
  • 2 Bathrooms
  • 1909 Square Feet
  • 2 Car Garage
  • Nice Upgrades
  • Gated Community
  • Community Pool

For a private home tour, please call 602-476-2727.

 

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3679 W. White Canyon Rd. San Tan Valley, AZ 85142

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  • 3 bedroom 2 bath home for sale in San Tan Valley, AZ
  • Bonus room
  • Heated Pool
  • All furnishings convey
  • Located in San Tan Heights
  • Very central home in San Tan Valley, very close to Queen Creek

 

Normal Sale! All furnishings convey! This home is immaculate and in excellent condition. Enjoy a low maintenance backyard with a heated pool – your own little oasis! You must see this home in person to appreciate it – Master bedroom split floor plan, stainless steel appliances, tile and carpet throughout. Very clean! 2 inch blinds cover all of the windows. Huge walk-in master closet, dual sinks, separate tub and shower. Large 2nd bedrooms with huge closets. Take a look at all of the furnishings that are included. Amazing! This is a great opportunity; don’t wait to see this one!

Record High Housing Affordability – More Opportunity For Buyers

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Homes are more affordable for the median income family.  77.5% of all homes that were sold in the first Quarter this year were affordable to median income families according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

Where does Phoenix, AZ rank on the Housing Opportunity Index?  According to the index, the median price for the first Quarter of this year was $135,000.  The Housing Opportunity Index for Phoenix is 83.7 .  Ranked Nationally, Phoenix is 115th in regards to housing affordability, with a median income of $66,400.  The Phoenix – Mesa – Glendale area, ranked regionally is 26th. While not extremely high on the list of affordability, Phoenix still has much opportunity for the median income home buyer, with home prices still at historic lows.

Foreclosures Are On The Decline In Arizona

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According to a recent article in CNN Money, foreclosures are down 70% in Arizona.  This is not a surprise, if you’ve been paying (even slight) attention to our market here in Phoenix.  As a buyer, your choice of bank owned properties continues to dwindle here in Arizona, while there are still more short sales and growing numbers of traditional sales.

Foreclosure filings are continuing to drop across the United States.  Year over year, foreclosures (actual bank repossessions) were down 26%  last month and are currently at 50% of the peak in 2010.  Foreclosure filings have dropped for the third straight month in a row.  Foreclosure activity for April was down 5% as compared to March.  Foreclosure activity includes notices of default, repossessions and scheduled auctions.

 

 

 

Phoenix and Mesa Arizona #1 In List Price Increases

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As stated in a recent Realtor Magazine article, Phoenix and Mesa, Arizona have been listed as the #1 leader in the housing recovery this month of May.  Specifically, the median list price of homes for sale in Phoenix and Mesa, Arizona have increase by almost 27% from the first quarter of last year to the first quarter of this year.  The increase in listing prices here in Arizona are due in large part to the current shortage of homes available for sale.  With increased buying activity and less homes available, prices are quickly increasing.  Now is a great time for homeowners to sell if they have been waiting for price increases.

 

 

What Can I Expect If I Put An Offer In On A Short Sale?

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Basically, here in Arizona, if you put an offer in on a short sale, you can expect a minimum of a 3 month wait for a response from the seller’s lender.  The response might be yes, no or some sort of counter offer.  During the wait period there’s not usually a lot of information that get’s passed from the seller’s lender to the listing agent (or to the buyer’s agent).  Much is done internally at the bank and a lot of information is not disclosed.
Here are some things that we can typically count on:  When an offer is submitted to the seller’s lender, it’s submitted along with a “short sale package.”  The package consists mostly of the seller’s financials, including taxes, bank statements, income expense sheet,  etc…  The main point of the short sale package is to reverse qualify for their mortgage.  In other words, they’re trying to prove that they can no longer afford their mortgage.  After the short sale package is submitted, there is an appraisal done on the home (many times referred to as a BPO).  Once they’ve received the appraisal and short sale package, the lender will then start processing the paperwork to make sure the entire package is complete and that the offer is in line with the actual short sale market value.  Typically after that, it’s sent through one or more quality control negotiators to make sure that everything truly is in order.  Then, typically after that the entire file will be assigned to a negotiator who will then review the file and obtain/update any missing or outdated documentation and fit the file within the guidelines of the investor that holds the Note on the property.  The investor is the actual lender that makes the decision on whether or not a short sale will be permitted.  Once everything is in order, the entire package is submitted to the investor for final approval.  If the investor approves the short sale, the bank will issue an approval letter and buyer and seller can move towards close.
That’s the process here in Arizona, in a nutshell!  Many things can happen between buyer’s offer and closing, and every short sale is different.  The above is just the basic framework.

I Would Like To Negotiate My Closing Costs

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Can I Negotiate Closing Costs?

 

Absolutely. Everything is negotiable!

With the Arizona Residential Resale Real Estate Purchase Contract, it’s not typical that buyers and sellers will itemize what closing costs they would like their counterpart to pay. It’s usually just asked for a lump sum amount or a percentage of the purchase price. There’s even a section in the purchase contract addressing what closing costs will be paid by the seller on behalf of the buyer.

Also here in Arizona in the current market conditions, it’s more common for buyers to ask for closing costs to be paid for them. There aren’t many sellers asking for their closing costs to be paid right now, although things can change and sometimes very quickly.

What can you expect to pay in closing costs?? There are an infinite number of loan programs out there, with different requirements, fees and costs, so talk to your lender (contact us if you need a referral to a great lender!) about what your estimated costs would be.

 

What Can I Do Right Now To Increase The Value Of My Home??

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What Can I Do Right Now To Increase The Value Of My Home?

 

When you’re selling a home, a little curb appeal can go a long way!  You could possibly start with some less expensive things such as making sure your yard (front and back) is clean and tidy.  Consider putting in some new plants/flowers if it’s the right time of year.  Your first impression can really make a difference.

From there you can follow suit inside the home and make sure that it’s also clean and tidy.  If some cosmetic repairs are needed, take care of them.  Air out the home frequently and make sure there’s adequate lighting available.

There are plenty of other things you could do, such as remodeling the kitchen and bathrooms.  Try to make a great first impression with neatness and cleanliness and you might be surprised what that could bring you, without heavy remodeling expenses.

 

Good luck!

Time Is Running Out To Sell Your Home!

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You’ve read that correctly.  Time is running out to sell your home as a short sale – If you want to take advantage of the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act.

As many Americans already know, Congress enacted a law to limit tax burden on homeowners who short sell their homes between January 1, 2007 and December 31, 2012.  Homeowners who sell their home as a short sale and their deficiency is forgiven, may be eligible to not have any tax burden if they meet certain criteria.  Click here for the IRS explanation of the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act.

 

Here is the critical point to keep in mind – It takes time to market and sell a home, not to mention negotiate the short sale with the lender that holds the note.  December 31st, 2012 is the deadline to close a home.  That means that a seller would want to get their home on the market no later than June of 2012 if they wanted to feel confident that they would get the home closed by December 31st, 2012. Time is really running out.

In most instances, without the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, if a homeowner sold their home as a short sale and had a $100,000 deficiency, that deficiency would count towards their income on their taxes for that year.  For example, if you owed $300,000 on your home and sold it for $200,000, you would have a $100,000 deficiency.  $100,000 would be counted as income on your taxes.

If you are considering putting your home up for sale here in Arizona, or anywhere else in the country, now is the time to act!

 

We recommend consulting a real estate attorney and tax adviser regarding ramifications of completing a short sale on your home.

 

 

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4,542 Listings
9438 N 5TH Avenue, Phoenix, AZ 85021

$295,000 2 beds  1 baths  826 sqft 9438 N 5TH Avenue
Phoenix, AZ 85021Listing office: Twin Palms Realty

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