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Buying Arizona Real estate

Closing Costs for Home Buyers

Closing costs is a term many first-time home-buyers find confusing. Even though you knew you’d have to have a substantial down payment and moving expenses, you may never have imagined you’d be paying out-of-pocket thousands more dollars in service fees and expenditures known as closing costs. Here are some helpful tips you need to know … Continued

6 Steps to Buying a Home

Buying a home is an exciting adventure. Most first-time buyers get completely consumed by thoughts, daydreams, and ideas about what life will be like as a homeowner. But before you jump in head-first to the waters of real estate, find out how to best prepare so you’re empowered and not discouraged along the way. Here … Continued

Arizona Real Estate Fundamental Change

As of February 1, 2017, the AAR (Arizona Association of Realtors®) implemented a substantial number of changes to the forms involved in most Arizona residential real estate transactions. One of the changes to the Purchase Contract -Feb2017 was rather fundamental. Pursuant to section 5a, the Premises are now being sold “… in its present physical condition … Continued

Arizona Home Sale Closing – Likely not what you think!

As defined in the Purchase Contract -Feb2017,  an Arizona home sale closing is a very specific and precise event. “Closing” is the moment of the recording of transaction documents at the County Recorder office where the property is located. An Arizona home sale transaction closing does NOT occur when the seller and/or buyer sign their … Continued

Metro-Phoenix Housing Market – Extremes Prevail

Metro-Phoenix Housing Market June 2015 to June 2016 appreciation range by by Zip Code … 22% to -4% (yes, that’s a minus sign) 22% – 85006 … very near downtown Phoenix, northeast -4% – Gold Canyon … 40+ miles east of downtown Phoenix Perhaps the extreme nature of the current market is best illustrated by … Continued

Credit Rating – Current scope too limited

What payment histories are considered in determining a credit rating? How many of the following do you think are included … Rent payments? Utility payments? Cell phone network payments? Consider this situation … we’ll use “Kelly” as the name of a hypothetical young man or woman who graduates college, having been able to do so … Continued

FREE MONEY!! AzHFA – Renters … Check this out!

Mr/Ms. Renter … You are likely paying more to rent than you would pay monthly to buy the equivalent home or condo!  In Maricopa County, i.e., metro-Phoenix, rents have increased that much, interest rates are still that low, and home prices are still reasonable. While low rates is good news, there’s even better news!  You may … Continued

Home Buy Checklist

Metro Phoenix residential real estate sales are near the top of the annual cycle for 2017. From this point, the number of monthly home sales will generally decline to the low point in December. Unfortunately, for buyers, prices will likely continue to increase at near the hefty rate experienced over the last year-plus, except only for … Continued

Flipping Homes – Facelift to Teardown

Flipping Homes – buying properties to promptly resale at a profit. A rare idea just a couple of decades ago, is being attempted rather commonly these days. And with an extreme range of results – from spectacular success to equally spectacular failure. Is there an overall indicator of the likely success level that can be … Continued

Lies, Damned Lies, Statistics and Zestimates

Housing Market Stats

Let me be clear: the Zillow “Zestimate” home value estimates are as good as those from any other “automated valuation model” (AVM). Unfortunately, as will be evidenced below, all AVMs are unreliable predictors of the price buyers are likely to be willing to pay for a specific property because … (1) the data AVMs have … Continued