So easy to get almost everywhere

 It is so easy to get to so many places from Arizona and Scottsdale.  It is one of the many things I love about this area.  With a relatively easy drive of under 7 hrs you can get to San Diego, Las Vegas, Sedona, Flagstaff, The Grand Canyon, Rocky Point Mexico, or  Disneyland, to name a few.  With a few more hours in the car, or better yet, a quick flight you can get to New Mexico, Salt Lake City, Colorado, Dallas and San Francisco.  Yes, the east coast is a bit of a haul, I like the west it has so much to offer, see & do. 

 

 

 

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Scottsdale shopping center gets a facelift

The Albertsons shopping center on the corner of Hayden and Indian School Road, is getting a face lift.  The shopping center has a few great food stops, Sakana for sushi, Mrs Goldmans for deli food, Subway for sandwiches on the run, Boston Market, Crust, and a couple of  others as well as a great nail salon, UPS store, Data Doctors, the Scottsdale Running Company and more.  Lots of great places in this small shopping corner.

Fireplace in the Garage?

I was showing a home today, and when I unlocked the garage and entered: I saw something I have never seen before.  A full fireplace, hearth and mantle, indoor ceiling fan all set up like a living room.  I did mention this was the garage; and the word ‘unlocked’ was code for separate entrance.   Some things I just have to share.

Foreclosures part 2

Yesterday I wrote about Foreclosures and a few thing to help understand the banks.  Today I am going to share a bit more. 

One of the things to be aware of is with every foreclosure, the bank has the buyer sign an addendum stating if the buyer delays the closing, the buyer will pay a per day per diem for each day the closing is delayed.  That per diem fee could be waved, if you use the bank that is selling to get your loan.  Here is their caveat - if they are the cause for the delayed closing, there is no compensation to the buyer.  So if there are delays in getting title (the most common reason for the seller to delay closing with foreclosures), you the buyer have to wait, no compensation or consideration given.   If you are doing a loan, not with the sellers bank, be sure to get your documents signed REALLY early, they have to be sent off and reviewed prior to funding, so be on top of it!

Some of the banks are on the ball, and get a home from the courthouse steps to the listing agent and on the MLS in hours, others take months.  So that house you have been looking at could take a while before it is back on the market.  Better to make your move when you find the right place and go thru the fun of a short sale. 

Night Blooming Desert Beauty

The desert has many beautiful flowers.  Sometimes you have to look carefully and at the right time.   This is a photo of my neighbors Night Blooming Cereus.  By morning the bloom is closed, and will fall off in a few days.  To view some amazing studio photos of this flower check out Robert Fovell’s photos. 

There is more going on at night in the desert, and you can check it out at the Desert Botanical Gardens, evening program; Flashlight Tours.

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Purchasing a foreclosure home; things to consider

With so many foreclosure properties here in the Valley and around the country; I thought I would be useful for me to share a few things from the lunch & learn class I attended yesterday.  It was on how to write a good contract on a foreclosure property.  The training was given by Sandy Lezalla and Jeannie Regan  both with John Hall & Associates.  They have been working with the banks and doing foreclosure sales for years. 

The first thing they wanted us to share with our clients is the fact that the bank is only interested in the numbers.  The banks work with a one page automated submittal program that summarizes the offer details.  The listing agents fill in the desired details and pushes send.  The banks want to know the potential buyers names, offer price, down payment, earnest deposit, loan type, and what fees they are being asked in the offer to pay.  That is it.  It boils down to the best value for them.  The offers being accepted may not always be the highest price.  Closing date, cash purchase, possible complications with the buyers loan (based on fees the bank is asked to pay) all come into consideration. The bank is looking at their net, speed of closing, and lack of complications.

A few other things to know is many banks will not look at any offers until the property has been active on the market for a min of 5 days.  This allows for multiple offers to be received for their review.  So the early bird, and the first in line is not of consequence.

We asked what I feel to be the most important question: What price difference from the MLS asking price are the banks accepting? Their answer was 5% under list price or better.  Anything less than that, many times, does not get a response back from the bank.

Multiple offers are more and more the norm here rather than the exception, and many times the properties are going for over asking price.  Be sure to submit your highest and best price for the property, the bank rarely counters.

HOA’s are a good thing

Yes, there are reasons to choose a home in a Home Owners Association.

This home, besides being a beautiful shade of yellow, has its yard filled with statues, fountains of little boys peeing, and so much more.  About the only thing missing is a car on cement block on the front lawn to be the poster child for why you DO want an home in a community with a HOA.

In a community with a HOA you do have to follow the rules. This is true. Understand that most of the rules are there to ensure the value of the property for all owners remains as high as possible; not to be an aggravation.  Here is my best advice if you don’t like your Home Owners Association.  Get involved.  Get on your board; and have a say in your community.

Keeping it clean

My brother lives in Alaska, a big difference from Arizona.  (we only visit him in August!) He has come out this way a few times, in January of course

.  His observation was that we sure do have clean cars in these parts.  He is right.  With average rainfall in Arizona at under 8 inches a year, we don’t exactly have to be worried about cleaning of the mud and muck.  We Arizonians do like our pretty cars.  Most full service car washes even come with a guarantee.  Two days, if it rains bring it back and get the outside washed for free at Arizona Auto Wash.  Be sure to print off your coupons before you head out and sign up on their contact page to get a free wash on your Birthday.  Lets keep it clean!  

  (that’s my CRV getting all shiny)

FHA Rehab Loan 203k

There are lots of foreclosed homes that need more than just a little love.  They need work to be livable.  The standard FHA loan requires the property be livable, no broken windows, appliances in place, no bare cement floor etc. The FHA 203k loan allows for someone who has fallen in love with a house that needs work to still get a loan using the FHA guidelines. The FHA 203k loan is not new.  Some of the qualifications for it have changed making it easier to obtain today than in years past.  The 203k loan is part construction loan and part FHA.  It is designed to help with the purchase of a home that may need repairs or remodeling.  Here are a few improvements allowed.

• room or garage additions
• kitchen or bathroom remodels
• roofing and landscaping
• pool repair (up to $1500)
• electrical upgrades

The cost of repairs are rolled into the loan amount, and the home is appraised as if the repairs have been complete.   The 203k allows for up to $35,000 in repairs with a min of $5,000 to qualify.  The total loan value including repairs can not exceed the FHA limit (346,250 in Maricopa County till the end of this year)

The Federal Housing Administration (FHA) is a division of the Department of Housing and Urban Development (HUD).  HUD was created to make affordable financing readily available to qualified buyers. Also check out HUD’s info on the 203k as well as the FHA site on the 203k.

A big thank you to Robyn Robertson for her sharing this with me.

Construction Everywhere

It does not take long driving around McCormick Ranch to see there is a bit of construction.  The 101 is widening adding in an HOV lane. The intersection at Hayden and Via de Ventura is adding extra turning lanes, as is the corner of

Hayden and Indian Bend.  Indian Bend from Hayden to Scottsdale Rd, is also under construction.  I have included a few links to the Scottsdale Capital Improvement Projects  site.  Keep an eye on the completion progress of the projects that impact your daily travel routs. 

Hayden & Via de Ventura 16% complete

Indian Bend Rd, Scottsdale-Hayden 36%

101 Freeway widening expected completion winter 2009

 

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