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Google Cardboard Glasses and Virtual Home Tours

Are we now in the era of TOTAL RECALL with the widespread use of affordable Google glasses from video games, movies to now touring homes from the seat of your own chair???

(Please click on photo below to watch my latest video on how they work!)image

Matterport Tours, also known as 3d Virtual Reality Home Tours have been in use for a couple of years now by yours truly and a few other high tech geeky Realtors- I even did a tutorial video back in 2015 on You Tube (click link here) because what I found was being such new technology, most did not know how to use it when they saw the link in our listings online.

NOW we’ve gotten into a whole ‘nother level of using this techie tool in order to sell homes, by incorporating Google glasses with those tours by downloading the app and using a pair of the glasses.  Will this also be the wave of the future?  I’m thinking so!  We will have several of these available at our new office for our clients to try for themselves as we’d love feedback.  We’ve heard some people say they get motion sickness because it’s THAT real of an experience… What do you think? We’d love to know as we are ordering these tours for most of our listings these days.

June’s Real Estate Market Update

 

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Click image above or HERE for PDF version of the full article

Total Monthly Sales Up 3.4%
Monthly Median Sales Price Up 6.5% to $226,900

For Buyers
Welcome to June! The weather is heating up and Realtors are using oven mitts on lava-hot lockboxes and keys to show property. If you’re planning to continue your search into the summer, you may find some relief in the competition for that perfect property. While other potential buyers are distracted by graduations, vacations and weekend getaways, that leaves a slightly longer window of opportunity for snagging up those new properties that hit the market. Don’t expect current price trends to change anytime soon. There is still more demand than supply in many areas under $500,000 so expect sales prices to continue rising through the summer, especially for properties under $200,000.

For Sellers
This month we’ve introduced the Listing Success Rate into our graphic. This measure counts all of the listings that closed, canceled or expired over the last month and takes a percentage of those that closed. The current measure is 76.7%, which is very positive considering it was 66% at the end of 2014. The price ranges with the highest success rates are $100,000-$200,000 with 85% of listings successfully closing and only 15% cancelling or expiring followed by the $200,000-$300,000 price range with an 81% success rate. The higher price ranges over $500,000 are seeing lower success rates with those over $1M seeing more properties cancel or expire in a month than close. This is actually typical as many sellers in these price ranges choose to cancel their listings once temperatures reach over 100 degrees and relist when things cool off in October, causing a higher than normal cancellation rate for June.

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That damned foam cowboy hat…

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Coming up next next Friday June 24, 2016, I’ve been honored by the Arizona School of Real Estate and Business by being asked to speak on a panel with other extremely top producing well known highly experienced agents on the topic “50 ways to Sell a Listing”.  I feel very humbled.  I can’t say it enough.  With that said, I have had to reminisce about all the struggles and hard work it’s taken me to get to this point in my career. 

I’ve been so very blessed to have had many fans and supporters, mentors, colleagues, clients and good friends cheer me on, but I have to admit- I didn’t get here without my share of failures

One in particular; still, when I allow the “gremlins” to sneak in, makes me want to run crying to the safety under my bedcovers to hide my head and squeeze my eyes shut in hopes of making the memory of the horror of it all to also squeeze right out of my head…

I now know without a doubt it was that event that played a big part of who I am today professionally and had I not fought to overcome my “gremlins”, I never would have accepted the General Sales Manager position offered to me a few years later.  It was the fear of failure, that I’d make a fool of myself again and be vulnerable to experience that same trauma again- I found just the thought of it unbearable.  Being a GSM meant I’d have to get in front of 300+ people in the monthly company wide meetings and actually sound like a competent person let alone speak in front of many of the same sales people who witnessed my most professionally humiliating moment, knowing some would be hoping for a repeat.  The little girl in my head kept screaming that it could happen again and then what… ?  I almost didn’t take that job and had I not, I would never had learned so much of what I rely on today to succeed in this ever so competitive field I love so much- Real Estate. 

clip_image001Remembering back, I believe it was spring 2003, a little over 13 years ago.  I was no rookie by definition with 10 years under my belt, but boy did I sure feel like one that fateful morning when I was about 7 months pregnant with my daughter Sarah. I remember the paisley dark blue and crème maternity dress from Motherhood Maternity I wore that day. I sat in a regular weekly sales meeting for the Builder I worked for at the time, then known as Trend homes (better known today after acquisitions and merger as CalAtlantic Homes), surrounded by the other 25+ competitive sales people I worked with.  I had a pit in my stomach that grew louder and louder every time my sales manager at the time, Joel Huston, shook his damned foam cowboy hat full of names… Inevitably my name was in that pile… knowing at any moment it could be my turn- I could feel my heart racing- eeeek!  “How did I mess up our assignment so badly?” I wondered and wondered while praying under my breath that it would NOT be me called next, but rather the person across from me…

We were having a dreaded Role playing exercise and our assignment was to explain the features and benefits and sharing our 2 minute elevator speech about our neighborhood we were assigned to sell homes in.  However, I completely missed the mark and misunderstood what my manager wanted from us, which I figured out very quickly when I heard the ever so smooth Dave McNichol go as he was called on first… I could hear my heartbeat so loudly in my ears as I sat uncomfortably rocking side to side in my chair… luckily the next person called on wasn’t me either… “Oh Thank God” I kept thinking but the fear was relentless because I just knew- just knew I wasn’t going to get off scott-free… lost in my thoughts of what was I going to do if I was called on- and then, all of a sudden, it happened… just what I was so terrified of, “Rebecca, you’re next….” I’m sure I was sweating bullets, stuttering like a fool, it was so bad when I stood up to give my presentation that not only was I extremely uncomfortable- everyone else in the room had to of been too… Someone I didn’t know hardly at all at the time (ended up being a dear friend) came up to me afterwards and said he just kept thinking that I needed to say my stomach hurt and sat down to escape the self inflicted humiliation I put myself through.  Ok, maybe he wasn’t that blunt but boy, did I get the point!  Oh the horror!  With every stutter I could feel my face get hotter and I wanted nothing more than to crawl under the conference table, get out of sight and in the fetal position to suck on my thumb until I soothed myself to sleep…..praying I’d wake from the nightmare.  I think what made me even more flustered was that I knew that there were many in that room at the time that loved every minute of my embarrassment and when I saw the glances clip_image001being exchanged between them, I only did worse.  Shaken, I finally sat down after which, you could hear a pin drop.  I can’t even remember the details as I think my flight or fight kicked in by then along with all the estrogen from being 7 months pregnant, so the details may have been partially blocked out to protect the innocent- but I’m pretty sure, that damned foam cowboy hat was retired that day after my epic failure that scarred me for quite sometime.

Seems that with success, many times comes critics, naysayers, people wishing for failure… at least that’s what the “gremlins” whisper in my head when I am thinking about this fateful public appearance.  Actually I’ve been learning that it’s when we are our authentic selves and allow ourselves to be vulnerable, is when we grow and learn the most.  It’s those moments that define us.  We can choose to let them keep us frozen, bitter, in the blame mode OR we can choose to overcome our fears and face them!  The first thing I did when I accepted that management position was start teaching contract law for New Homes @ASREB to force myself out of my comfort zone and start practicing more public speaking in order to improve.  Today, I have appeared in many Real Estate themed videos and even was interviewed by Channel 3 live on the morning news just 6 months ago.  I’ve come a long way since that 30 year old 7 month pregnant lady stuttered like a fool in front of her peers but I am so thankful for the experience and extremely grateful I still get to speak about my passion to anyone who will listen to me today.

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Winner Winner Chicken Dinner!

Recently we reached out to our database asking for help to rename a video we posted both on Facebook and via email.  Boy, did they rise to the occasion!?! THANK YOU to everyone who participated!

We had a ton of replies to go through and narrowed it down to the top few, of which we ended up combining into one name.  We also plan to use the new tag line/title for other future marketing purposes as well, besides the renaming of the video above… so it was really important we didn’t make a rash decision.

JUST KNOW- We really did struggle because there were so many GREAT ideas given! (Just FYI- James does do a lot more than sleep most work days btw HAHA!)

One worth mentioning that caught our eyes (even though we didn’t end up going with it) was “Far Beyond Driven”.  Simply put, it rang true!  (Not to mention there’s a few scenes in the video of Rebecca actually driving, so nice play on words to the person who submitted that one!)

Drumroll please….

The winners were a combination of “#IWorkForYou”, “Sunrise to Sold”, and “Integrity, From Dawn to Dusk” creating the NEW TITLE of our last video: #IntegritySunrisetoSold

How we came up with the winner:

#1 “#IWorkForYou” The use of hashtags # is a great way to tag different posts online and keep a trending history of various related posts and to also help to catch the attention of all those Millennial Clients that will only search online for their next home or Agent.

#2 “Sunrise to Sold” Truth be told, Rebecca is much more of a morning girl than a night owl and it’s true that we never give up until our job for our client is done, period.  Even after we’ve successfully helped a client close on either/or/both the sale/purchase of a home- we stay in touch and remain in service perpetually. We hope this part helps to convey that commitment to our clientele that we want to be a part of their lives indefinitely.

#3 “Integrity, From Dawn to Dusk” While similar to #2, it has a with a very important component- the word INTEGRITY. When Rebecca first opened Integrity All Star Realty back in late 2007, it was important then and remains an important part of our business today.  We pride ourselves in following through and always keeping the clients interest as a priority. We do “Walk the Talk” and if ever fall short (as we are human), we will make sure to make it right- whatever the issue may be!

We know the value of treating people right and keeping our clients “for life”.  We pride ourselves on the number of repeat clients we have and the tremendous reviews and referrals they are willing to post and share on our behalf. WE TRULY are GRATEFUL for each and every one of them.  THANK YOU ALL SO MUCH that we are speaking about!!!

If you are a past client and haven’t had a chance to toot our horn yet, but would still like to, please visit: http://integrityallstars.com/about/review/

We will be reaching out to our winners and notable mention this week to award their prizes! Congrats!!

April Real Estate Market Update

2016-04 Infographic and Commentary_Page_1

(Click on photo above or here to download PDF document)

Sales Up 7% Over 2015
Median Sales Price Up 6.4%
Active Listings Up 1%

For Buyers
For the first time since November 2014, supply is higher than it was the previous year. This is generally good news for buyers, as it means there are more listings competing for their attention. However, buyers looking for homes under $200,000 will find this is not true. The Phoenix Metropolitan area is still nearly 19% below normal in supply, with the lower price ranges in the shortest sup-ply. Sales under $200,000 have made up 45.5% of all sales in the last 12 months, so this is a significant market to be in short supply. Buyers looking over $300,000 are experiencing an 11% increase in supply valley wide. The increased competition is resulting in a 19% increase in weekly price reductions compared to this time last year, especially among listings over $500,000.

For Sellers
The good news for sellers is that contracts in escrow are up 5% and sales are also up 7% over last year. Demand has been rising over the past month and seasonally is close to its highest level for buyer activity. Sellers who wish to list their home at the “peak” of buyer activity should not wait too much longer. April and May are typically the highest months for buyer activity before slowing down in the summer months. This is especially true in the luxury market over $500,000. It’s not uncommon for buyer contract activity to drop anywhere from 25%-40% between May and August as seasonal buyers head towards cooler climates.

Commentary written by Tina Tamboer-Glatfelter, Senior Real Estate Analyst with The Cromford Report
©2016 Cromford Associates LLC and Tamboer Consulting LLC

City Rankings, 5 yrs ago vs today

In October of 2011, I wrote a blog about the ranking of the cities in the Metro Phoenix area based on their price per sqft and the percentage of change from the previous year’s amounts…. The column on the right is the last rankings I pulled just a couple of days ago. 

Using Chandler as an example- it’s ranking #10 in the valley today with an average price of $138.75. That’s an increase of 3.8% on average from 2015, when the average for the city was $133.63.  Compare that to 2011/2010’s numbers and I think anyone would be convinced that the worse is way behind us…. In 2011, Chandler ranked #13 at a mere $93.51 a sqft which was DOWN from 2010 by 9.3% when Chandler had been $103.09 a sqft. 

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Truth be told, April of 2011 was our true bottom of the financial crisis- at least here locally…. It’s great to see that in the last 5+ years, our local Chandler market has rebounded by 32%, so while last year we saw an increase of 3.8%, the average in the last 5 years has been closer to 6% appreciation a year.  Those folks that bought in 2011 and still own today should be quite happy with themselves as they’ve done really well on their investments!

When we think back to a year ago, the market was tepid and not showing any of the positive signs that suddenly appeared in early February 2015. If you look at the daily market snapshot today you can see that almost all of the indicators are substantially more positive than they were a year ago, including:

  • days of inventory down 20%
  • annual sales rate up 10%
  • days on market (sales) down 10%
  • days on market (actives) down 7%
  • listing success rate up 6%
  • contract ratio up 29%

So we enter 2016 in much better shape than we entered 2015 (per the Cromford Report)

I personally feel a great momentum in our marketplace and expect 2016 to be a bustling year with lots of real estate changing hands… Don’t live in Chandler?  How’d your city you live in rank?  If you need help deciding whether now is a good time to jump into or out of this market, please feel free to contact our office for a no obligation consultation- 480-243-4242 as we are happy to help you with your real estate needs!

Considering selling your home this Holiday Season?

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If you are, you MAY want to think twice before you give Ken Griswald a run for his money with the Christmas lights…

BUT DON’T GET ME WRONG… some Holiday decor is actually recommended.  The numbers show that demand during this season tends to wan some however the Buyers that do come out tend NOT to be tire kickers and usually are quite serious!!  If you follow our tips, you will have greater chances to sell your home during the holiday season!

Most of these tips are important to follow year round, but even more crucial this time of year:

  1. Clean thoroughly, De-Clutter and pack away what you don’t need and STAGE your home! Accentuate the positive- Dangle a little mistletoe to show off an entryway and be an equal opportunity decorator- don’t be overly religious so as not to turn off certain prospective Buyers.  Go easy on the lights and think about going with a skinnier tree so your home doesn’t feel cluttered.  Consider stashing wrapped gifts in a closet or stacked neatly in a corner. Curb appeal is especially important this time of year when trees have lost their leaves so spend some extra time sprucing up your front entryway.  A wreath or bowl of pinecones will help your home feel festive without going overboard.
  2. Use a Realtor that incorporates professional photography into your marketing, particularly twilight and aerial shots,  3d or live video as well.  ‘Tis the season to be busy… a lot of shopping will take place online- the key is to ensure your audience has plenty to look at to entice them to come see your home in person.  Get them emotionally involved so they are “sold” before they arrive to your doorstep by giving them lots to look at online.
  3. Once your prospective Buyer arrives, make sure your home is warm (physically) and inviting to all of their senses! Be accommodating with showing requests, everyone is busy busy busy! A little ambiance with candles, cider simmering on the stove or Holiday candles burning along with some light music and treats; so it smells good, feels good, sounds good, tastes good- will definitely go a long way with making your guests feel right at home.
  4. People are looking for deals year round, but especially this time of year.  Be sure to price your home right, sweeten your “deal” to make your home more appealing over your competition by offering an incentive like closing costs or a home warranty.  Pre-MLS marketing and inviting the neighbors over for a private open house are wonderful strategies to help get your home more attention sooner than later and help get it SOLD!

Please click HERE for full Cromford Report with more stats for month of November. If you’re thinking about selling, then it’s really important to know the current stats before you decide on your list price- what your neighbor sold for last summer will have little bearing today on your list price as the market has changed significantly since then.  The following is an excerpt from the full report:

The cooling trend that started gently in August has now developed more momentum. Things are getting better for Buyers and worse for Sellers.

  • Active Listings: 21,439 versus 24,846 last year - down 13.7% - but up 7.1% from 20,024 last month
  • Under Contract Listings: 9,026 versus 8,008 last year - up 12.7% - and up very slightly from 9,003 last month
  • Monthly Sales: 6,214 versus 6,271 last year - down 0.9% - and down 12.7% from 7,117 last month

The above numbers demonstrate a weakness in closed sales but a strength in under contract listings.

Sales were down 1% from October last year, the weakest year over year comparison for any ANY month since January but the price trends continue to show positive appreciation. It’s becoming clear that the top and bottom end of the price ranges are selling less and the middle is selling more, compared with last year at this time. The bottom is selling less due to low supply while the top end is selling less due to lower demand.

At the end of the day, the statistics do show that if you have a reason to sell soon, do it now as actually December is a much stronger month for real estate sales than January or February due to the spending that occurs during Christmas… It takes most families until Springtime to recoup and get caught up financially and be in a better position to purchase a home.  One fantastic thing about Arizona which does tend to go against the rest of the country this time of year, is our weather and attraction of Winter Visitors, which is definitely in our favor and helps improve demand and your likelihood of selling your home during the Holiday Season.

One last thought to share- IF YOU OR SOMEONE YOU KNOW is considering BUYING, now if the time!  During the summer most of our listings sold immediately with multiple offers and some bidding wars, so while the scales are tipping in the favor of Buyers- now is the time to go find a deal!  Sellers that have their homes on the market right now tend to be quite motivated and less competition means more buying power!

Give us a call at 480-243-4242 for help with any of your Real Estate needs- we are always happy to help!

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Real Estate market has heated up this SPRING!

We’ve been waiting after a slow 2014 for our market to heat up and it’s here!

The above video is a short summary of the current market conditions we are experiencing locally, data provided by the Cromford Report; our local experts of Real Estate market data analysis.

We’ve been seeing homes that are priced right selling immediately with multiple offers and certain price ranges are definitely more competitive than others.  IF a home is in the FHA price range (280k and below), if it shows nice and priced well, don’t expect it to be on the market but a few days right now…

We saw a 35.2% increase in sales volume overall in the Valley from just last month alone?!?!

Many more homes are pending, but the good news is that with an increase in price/demand- we are seeing more Sellers listing their homes and the rate of new listings has ticked up a tad.

It’s quite natural, per Mike Orr of the Cromford report, for news of a stronger market to bring out some more sellers.  If this continues it will help keep the market from getting too frenzied…

We saw the FRENZY in 2012 when plenty of Buyers just gave up trying to compete for a home- the difference today is that it’s not the Investors that Buyers are competing against but rather other people who are moving up/down, relocating to Sunny Arizona, or that have been renting like the “Millennial” and “Boomerang” Buyers- GOOD thing too as the RATES are still VERY LOW.

We are being warned however if this pace continues, prices and rates both may raise which will effect drastically the size home someone will qualify for – so moral to this story – if you’ve been waiting to either Buy or Sell- now is the time while our market is SIZZLING!

Please call us at 480-243-4242 and we are happy to help you with your Real Estate needs!

THE POWER OF HOME STAGING

 

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Homes Sell FASTER when Staged!

 

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The wonderful thing is that you don’t have to get crazy with expensive fixes, just doing the basic like lightening/brightening and cleaning/de-cluttering will give you an average return of 594%-769%?!?!?

See chart below for the average return on your Staging Investment….

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Recently, my husband and I came across a great example of what a difference STAGING a home professionally can make on the value of a home.  We were incredibly impressed with a currently Active listing located within our neighborhood (same floor plan of our own home). We’d been "following" the home as we also have done upgrades to our own home and are happy to see how well this investor has helped increase the value of his home- while positively affecting the value of the neighboring homes as well, including our own.

Originally purchased as a Short Sale for $393,000 2/10/14 & a recent listing appraisal came in for $524,000 after the updating/staging was completed.

Click here for the current listing info, we’d be happy to show you this lovely home in person!

What some more ideas on Staging your home?

New home builders are masters of ensuring their homes show at 100% all of the time because it’s a proven fact that doing so improves BOTH the time on market and overall price their homes sell for.

If you are near Chandler, we’ve compiled a list of New Home Builders in the Chandler area.

Click here--->> Chandler Builder Roadmap to Download your own copy of the Chandler Builder Roadmap .

To download your own Staging Checklist, click here

We are also happy to come and give you a free no obligation consultation for your own home if you've been thinking about selling, please call 480-243-4242 or email rebecca@integrityallstars.com to set an appointment.

Is it a “GOOD” Market right now?

I get asked that question ALL OF THE TIME!  My answer is always the same too… IT DEPENDS!

Not because I don’t know or because I’m trying to be coy, but because it really does depend if you are a Buyer or a Seller, or an Investor, or or or… at one point, I guess I should correct my statement above because for a little while I used to say it was actually a BANK’S market during our “dark years” as I call them when Short Sales and Foreclosures dominated our marketplace and dictated home pricing. 

DashboardToday we are much more balanced and back to a more “normal” market but it has been leaning in the Buyer’s favor as of late… which isn’t entirely bad news for Sellers since our market had increased in value so much this past year and a half.  The majority of homeowners are no longer upside down in their mortgages any longer like they were in 2012 before the investors help to drive up demand.

2 years ago, I had buyers that literally GAVE UP trying to buy a new home because they couldn’t compete against those cash investors.  With more Sellers putting their homes on the market today, it’s helping increase the Supply and the Demand has stayed lower than normal levels, which was the case even two years ago but we had such few homes on the market and so competition was fierce that it still sent prices upwards.

That helped bring back the Builders into the market which has given Buyers even more options, especially in the city of Chandler!  We have compiled a HUGE list of Chandler Builders, check out our Builders Corner in our Newsletter for our “Roadmap” to where they all are located and what they are offering Buyers today. Cromford summary

During years 2008-2013, my team helped over 400+ families successfully sell their homes as Short Sales.  What we’ve seen and heard, is that more upward pricing is not expected to happen until loan guidelines ease up to allow more of the people who are currently renting as a result of Short Sale or Foreclosure to purchase a home again.  They have introduced loan programs this past year to help, but more is needed.  Rates are still historically very low, in the 4’s but combined with increase in value, it’s gotten harder for some people to qualify for a home again.  We have teamed up with experts, so if that sounds similar to your situation, please let me know and I will be sure to get you in touch with the right mortgage company that can help.  According to Trulia, in Arizona, it’s 33% cheaper to own than to rent… let’s hope mortgage guidelines continue to get easier while the rates are this low!

At the end of the day, one thing that remains the same is CHANGE.  Please stay tuned and we will continue to provide market updates via Mike Orr of the Cromford Reports, as he’s proven to be the most reliable source for our local marketplace stats because of his knack for scrubbing the data provided by our local Arizona Regional Multiple Listing Service.

If we can be of assistance, simply call us at 480-243-4242 or email Rebecca@IntegrityAllStars.com.

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Last 10 yrs of Local Real Estate Stats- Phew, what a Ride!?!

(Stats & Graphics Courtesy of Mike Orr, Cromford Report)

City Rankings-top tenWOW, I wasn’t kidding when I said “What a Ride!?!”  I’ve had the luxury of working now full time for over 20 yrs in my chosen profession and I can honestly say that this last Real Estate "Roller Coaster Ride" lasted much longer than most of us ever had anticipated.

I do practice Real Estate all over the Valley, but with my office and home located in the City of Chandler, the following stats in this blog will be based on the City of Chandler. If you do not live in Chandler but instead in another Metro Phoenix city, please see the following list of 41 Cities to see where your city ranks with price per sqft.  The market conditions that effected our homes’ values over the last 10 years took the same "ride" all over our Valley, however just at slightly different price points depending on the area itself. Currently, the City of Chandler is Ranked #10 for Annual Average $ per sqft in the Valley of the Sun at $125.48, an appreciation of 19.2% from last years average.  crystal-ball-art-therapy-300x270

In order to better predict what’s ahead for 2014, studying the past to see the trend we are currently on is best unless you have a crystal ball… and if you do, can you please enlighten me on where to get one as sadly I don’t think I remembered to put that on my list to Santa this year??

In 1994, I'd bought my first home off of Ray & McClintock Rds in Chandler for $1 over the Auction list price of $88k ($54.83 $pft).  Being just 1 year after I'd first earned my Real Estate license, with rates fluctuating between 6 3/4% to 7% (which was considered good at the time as historically we'd seen rates much higher) it was all I could qualify for.  Being a foreclosure, it was a true fixer upper but a great starter home being a HUD home.  Features included: being built in 1983, 2 story, corner cul-de-sac lot with West facing oversized backyard, 3 bedrooms, 2 bathrooms, 1605 sqft., 2 car garage with covered porch and patio.  I'd sold it 6 years later in 2001 for 140k ($87.23 $psf). That’s an average of 10% appreciation per year which had far exceeded the “norm” at the time. (interesting side note, in February of both year 2001 and 2011, our average price per sqft was the same in Chandler @ $88.35 $psf).

Traditionally, 4-6% per year annual appreciation was a safe investment and one you could typically count on in a normal market when one owned Real Estate and was higher than one could yield with your local bank on interest.  An average interest rate of around 7% was also average was what one could expect in the mid-nineties vs. today's still historic low rates which are at or below 5%

10 yr Chandler Stats-page-001

(If the image is hard for you to read above, please click on it to download the pdf)

Let’s now fast forward from 1994 to 2004, so we can focus on average annual appreciation in Chandler in just the last 10 yrs.

  • Week 1 January 2004, average annual appreciation in Chandler was 3.5% & $103.61 was the $psf (vs. today’s $133.69 $psf)
  • Week 30 July 2004, average annual appreciation in Chandler was 9.9% (say goodbye to single digit appreciation for a couple of years, keep all arms and legs inside at all times, this “ridehas started… )
  • Week 52 December 2004, average annual appreciation in Chandler has now hit 25.6% (What the ????) image

HOLD ON TIGHT- we are climbing to the top of our ride just a short year later… The average annual appreciation in Chandler peaked in 7/05 to a whopping 53.4%!  By the end of 2005 (Week 52) December we rolled through Splash Mountain and cooled to a mere 39.2% average annual appreciation in Chandler.  What was going on here? In just 6 short months, we dropped 14.2% Was this just a seasonal cool off? Or was it a sign that we may be heading for more than just "Splash Mountain" and instead a drop from The Matterhorn Mountain (wherein lies the Abominable Snow Man)? Obviously, we all know now it was sadly the latter of the two…

In 2006:

  • Week 1 January 2006 average annual appreciation in Chandler was 37.2%.
  • June 2006, we hit our peak price per sqft at $186.03.
  • Week 52 December 2006 average annual appreciation in Chandler was –5.5%!?! (We dropped another 31.7% in value in just 1 year, on top of the 14.2% loss from the previous year???).

(Why this happened and who was to blame was the topic of many a blog already, my focus today is to get you to tomorrow’s likelihood for our local market so that you may make an educated decision of what’s best for you and your family in 2014.)

In 2007-2011 (AKA The Dark Years):

  • Week 23 June 2007, we had a tiny positive appreciation recorded of just a paltry 1.2% and just leading to that in May 2007 an annual average appreciation of 0.03%.
  • Mid 2010 we had 2 more recordings of positive appreciations being recorded of 0.02 & 0.01% right before the 2010 tax credit expired.
  • Week 15 April 2009, we hit the bottom of our Real Estate Roller Coaster Ride at -29.5% annual average appreciation in the City of Chandler- that’s a change of 82.9% in just under 4 yrs; What goes up, must go down as the saying goes… Average $psf $103.39. (loss of $83 $psf from 2006's peak of $186)
  • Week 52 December 2009, the pendulum swings a little in our favor and we end the year at a –10.6% annual average appreciation.
  • In 2010 & 2011, we bounced around the bottom around –5% to –10% for the most part. (Average $88.48 $psf, back to same level of 2001,10 yrs prior, by Feb 2011)
  • Market primarily made up of REO’s, Foreclosures, Lender Owned, Auctions, Trustee sales and Short Sales.  Traditional sales were few and far between and building industry had almost completely stopped building with many going out of business completely.

FINALLY, Some much needed good news, in 2012:

  • Week 3 January 2012, we were back into positive annual average appreciation at 1.3% (Happy Days are here Again!).
  • Week 46 November 2012, Chandler average annual appreciation of 31.3% Many homes are no longer under water and less and less homes are being sold as Short sales and/or being lost to Trustee Sale.
  • Week 52 December 2012, 25.6% was Chandler’s annual average appreciation.

In 2013:

  • Week 51 December 2013, 10.1% is Chandler’s current annual average appreciation.  Down 15.5% in 1 year.  Are we experiencing a second bubble many people have asked?

Let’s take a closer look at this past year with weekly appreciation stats:

  • Week 1 January 2013 23%
  • Week 16 April 2013 27.5% - Maybe not a bubble??
  • Week 21 May 2013 15.2% - 12% loss in just 5 months, ok maybe there is a bubble coming after all??
  • Week 31 August 2013 21.4% - Rebounded a little, due to summer perhaps?
  • Week 42 October 2013 18.9% - Most cash investors have by now left AZ & moved on to other pastures...
  • Week 51 December 2013 10.1%

In October we had our Government Shut Down which had hurt consumer confidence, the Feds had also announced they were going to taper buying bonds which sent rates higher (which they are also doing again right now), & decreased affordability with higher prices have all led us to where we are today. Watch blog with Academy mortgage from October 2013 talking about this in more detail.

Finally, here we are with 2014 nearly upon us.

If pricing continues to remain flat, we would be at 0% (ZERO) appreciation before long, but the good news is that there’s 1.7% appreciation predicted for January 2014, meaning that within a month, we may be at an annual average appreciation of just under 12%.  When the Cromford Market Index hits 100%, that would mean that Supply and Demand would be Equal.  We’d have more of a Traditional market with an average supply of 4-5 months.  It’d be a "Safe" market to invest in where you wouldn’t risk losing Equity, but the gains would be minimal, like in the beginning of 2004. Our current weekly trend is at 5.1% average appreciation which is quite healthy.  We are coming off of a culmination of the last 12 months having a total of 19.2% annual average appreciation over where we were 1 year ago.  This is actually a much more fun environment to live and work in because we most likely will not see any huge highs or lows if we continue on the current path we are on.  Builders will continue to gain momentum as the resale inventory is still low, therefore keeping prices stable if not increasing ever so slightly.

Chandler STATS 2yrs-page-001

(If the image is hard for you to read above, please click on it to download the pdf)

annual sales priceToday:  Supply is at 73.1% and Demand is at 80.3% however our Market Index overall is still above 100%, coming in at 109.7%.  Our current Annual Average Price is slightly higher than where we came in last month, at $272k per home in the City of Chandler.  1 yr ago we were at $263K, and 2 yrs ago we were at $215k. Our Market index respectively were 173.4% and 137.1%.  As prices have raised, our Market Index has lowered, which is hand in hand with the Supply and Demand stats.

From my educated guess, I am liking where we are going. It appears our Roller Coaster ride has finally come to an end, for now anyhow.  Real Estate is cyclical and one thing that is constant is change.   2014 should be a year where the waters seem to calm and good homes will sell within normal traditional time frames when they show nicely and priced appropriately.  Expect interest rates to remain good in historic terms, at or around 5%.  Our current annual appreciation of 5.1% is a good “safe” place to be.  (Click here for Mike Orr’s commentary on the overall market for December) Whether you may be a Buyer or Seller (or both) in 2014, it should be a good time to make your next Real Estate move.  We are here to help!

crystal_ball_by_destinysoloInformation provided is a combination of Rebecca’s opinion based on the Real Estate stats provided by the Cromford report and Rebecca’s 20+ year experience working full time in our local Residential Real Estate Market. If you don’t live in Chandler, but would like to know the stats for your city, please feel free to contact Rebecca and she can provide it to you or a customized report for the Real Estate you own now or would like to own. Please feel free to contact Rebecca at 480-243-4242.

“We are starting to see a few signs of weakening demand”

The Cromford Report - Market Snapshot - Chandler-page-001Weakening demand for Real Estate here locally may be a good or bad thing, depending on whether you are a buyer or a seller.  Per the Cromford Report’s Market Summary for the beginning of June, it appears we are experiencing a natural cooling off of our marketplace as obstacles for buyers are starting to get harder to overcome. If you speak to some of our recent buyers, they would share some frustrations for sure on not being quick enough to get the house they’d hoped to get due to great competition for the “good” ones.

Per the Arizona Regional MLS, we had 9,183 sales in the Greater Phoenix this past May, which was the strongest month for sales since June 2011. 1,228 were short sales, 699 were REO sales plus an additional 192 were HUD sales (FHA REO’s) but 7,064 were normal (traditional) equity sales?!? That is the largest number of normal sales in a month since May 2006 at the height of the housing bubble!!!  Leaving us with a paltry 1.7 month current supply of inventory. 

Of those homes that are Active, we’re finding that a lot of them are undesirable or over-priced. Attractive homes at realistic prices are few and far between and usually last only a few days before they go under contract.

The Cromford Report - Major City Dashboard-page-001With the change of season from spring to summer this will probably change and we expect the number of active listings to start rising, peaking in late November. This is just a normal seasonal pattern.

We expect little to no increase in June and our short term outlook is for pricing to remain in a tight range around $120 per sq.ft. for the next couple of months.

We suspect that the combination of stiff competition, rising interest rates and rising prices are taking the wind out of some buyer's sails. If this trend develops further we may end up with demand well below average in order to match the supply which is already far below average.

The chart above has stats for the City of Chandler, if you live in a different City in the Phoenix Metro area and would like to see the statistics for your city, just call or email us and we’ll be happy to provide it to you. Knowing where the market has been critical to help advise our clients of how to proceed with their Real Estate needs, short of getting a crystal ball (I’ve been on the look out for one for many years now), relying on the stats from the Cromford report is one of our best tools available to us local Realtors. For a copy of the full Report from Cromford, please click here.

LawofSupplyandDemand-1

Law of Supply and Demand

Last summer I wrote the following blog on our site: http://integrityallstars.com/our-local-home-inventory-shortage-is-starting-to-improve/

It’s interesting to me to see this past Sunday’s Newspaper because they did a big article about Real Estate and how home values have gone up 34% from 2011 to 2012. Click here to see full article which contains stats on different zip codes, so if you already own a home locally, you can see what has been going on in your neighborhood. Mainly because those of us in the industry saw this coming since last year and explains why since last year, the local builders have been getting back to business buying and developing land to build new homes on again. (Click here for blog from last October)

When talking with clients today, trying to decide what to do next is their biggest problem.

If they have a home to sell, are they still upside down or should they wait just a little longer to sell?

Are prices really going to come up more in my area anytime soon?

If they want to buy while rates are still low (well below 4% still) and before prices raise any more, where should they start?

I’ve consulted with many recently afraid to sell and be out of a home because it’s been so competitive to get a “good” home to replace the one they would like to sell.

You can search for homes right HERE via the MLS if you are looking to buy or sell just to see what’s out there that would interest you or if you’d like to check your own home value you can click HERE for our FREE home calculator.

I see today’s predicament so many are facing as a catch 22 and it’s hard to give a generic answer when it’s a complex problem for many and why I like to be able to consult specifically with our clients on their needs and wants to develop the best game plan for them and their families.

Please feel free to contact me HERE or call 480-243-4242 to get started taking care of your own Real Estate needs from a company that cares!

Brand New Homes are being built again!

new house 

Back in 2005, driving past a home under construction was commonplace here in the Valley.  During years 2008-2010, many new home subdivisions had tumbleweeds blowing through because we had vacant abandoned homes on the brink of or newly foreclosed in every subdivision around and buyers were only looking to purchase Lender Owned REO’s or Short Sales… It’s taken nearly 7 years, but all reports are showing that not only are the Builders coming back but Buyers are welcoming them with wide open arms! We noticed it in the early spring this trend starting, but today we are helping new families almost daily tour model homes trying to decide which builder is best for them.

This past year, we’ve seen multiple offer bidding wars driving up prices on Short Sales and Foreclosures due to shortages in inventory; which have been making buying Brand new a very attractive option again.  What’s also great is the impact it is having on our community with job growth as well!

The photo above is actually of my own home under construction taken just yesterday! 

It’s very appealing to purchase a new home again for so many reasons!  With prices being competitive- all new, with builder warranty, getting what you want- where you want and not having to settle with regards to layout or options since you pick your own when you build new a great option in today’s market where Sellers are demanding top pricing for their existing homes.

Click here to read the article written by Joel Huston of Integrity All Star Realty which discusses in detail the New Home market here in Phoenix for the last several years.

A lot of Builders are now coming back and making great sales- but they are not all a like… 

Most of our agents have worked in the past for local Builders and can help you and your family navigate between them with their sometimes confusing incentives, options, contracts and if you have a home to sell first, we do offer listing discounts to those who need to sell a home first before they buy their next home*** (talk to Rebecca for more details on our trade in program).

Give us a call to help you get started looking for your next Brand New home- we will be happy to help! 480-243-4242

It’s starting to get easier to BUY a home again!

Have you or someone you know been out shopping for a home lately and had horror stories of multiple offers and a frustrating frenzy causing some folks to give up trying to buy a home?  Good News- It’s getting better out there right now! I’m not saying the “good” ones don’t still go fast, but our supply of inventory is on the rise- which will make it easier for the Buyers out there to be a little more discerning when it comes to selecting their next home.

The chart below represents the # of months worth of homes available for purchase in the City of Chandler during years 2012 vs 2008 vs 2004.

Chandler Stats

The reason I chose those years in particular to compare to our current inventory levels is because 2004 was when the “liar loans” came into existence and blew the doors open on the demand for housing.  It was due to the fact that so many more people could all of a sudden qualify to purchase a home with little or no $ down, which drove the prices up.

2012 and 2004 started out with almost exactly the same amount of inventory for the first quarter- the difference being that in 2004 the inventory continued to drop to an all time low of less than 1 month, where in 2012, we have been on a slight increase of our inventory since mid June of this year. 

A happy place for Supply Vs. Demand for our local market is a 4-5 month inventory supply and we very well may be on the path to getting there if it continues on the rise as it’s been the last 2 months.

Compare that to 2008, right as the Foreclosure crisis started to hit us here locally and Short Sales began to make an impact (due to the Mortgage Forgiveness Act getting signed by Bush at the tail end of 2007) when at our peak, we had 18 MONTHS of inventory flooding our market that shot prices down exponentially.

This month, REO (lender owned/foreclosures) homes have dropped to a record low level just below 14% of our market, that is the first time we’ve seen that happen since January of 2008.  At the PEAK of our Local Foreclosure Crisis (just 1 year later) in February of 2009, REO homes constituted 71% of our available inventory in our marketplace (In that 1 year alone, it jumped by 57%!).

Some more interesting stats (complements of the Cromford Report) just released are:

  • Active listings are down by 34% from this time last year
  • Monthly sales are down by 18%
  • Average sales price is up 23%
  • Median price has also jumped by 33% (from $109,000 to $145,000)

The LAW of Supply and Demand at it’s finest!

Those Sellers out there that have been waiting for prices to rise before they put their home on the market may want to pay attention and hurry to get theirs out there while it’s still a Sellers market!  It may quickly become a Buyers Market again if our supply continues to rise making it easier for Buyers to get good deals- without being in those infamous bidding wars. 

If you or someone you know needs the help of a Professional Experienced Real Estate Company, please call us for help at 480-243-4242 or click get started here and we’ll be happy to help however we can!

How long is this market going to keep increasing?

Seems to be the magic question these days- was just asked this yesterday by one of our repeat clients who’s concerned if she doesn’t sell her house today, that she may miss the boat….

I turned to Mike Orr of the Cromford Report and Director of the Real Estate Theory & Practice for ASU for the answers as he seems to be our best and most reliable predictor and follower of our local Real Estate Market.

The following 2 graphs are from the Cromford Report- this first one the “Daily Market Snapshot” with current stats compared to last month, last quarter, last year and 2 years ago for the entire Metro Phoenix Area.

Daily Market Snapshot

This one is specific for Chandler/Gilbert and shows the ACTIVES on the market and the ratio of Short Sales vs Bank Owned (REO), Traditional Equity, and HUD home listings. As you can see, we are returning to more and more traditional listings with a small fraction of what’s available being a “distressed” sale (Short sale, REO or HUD).  With the recent increases, less people are finding themselves upside down like they had been in 2010/11.

Active listing counts

But we actually did see a small dip in prices last month, so please read on further to understand better Mike Orr’s current take on our market. It seems overall very positive but the recent HUGE gains are not expected to continue- hopefully we are in stabilization mode which is better for everyone!

 

July 2 - Market Summary for the Beginning of July

Market Summary for the Beginning of July

In last month's summary we suggested that sales prices were in danger of getting ahead of themselves, and this proved to be a timely comment. In fact average and median prices recorded by ARMLS for for the month of June were far below those for May. The average $/SF for monthly sales declined by 4% from $101.42 to $97.44. This may have been a surprise to some of those who watched the average $/SF rise over 15% over the previous three months, but not to those who were also watching the average $/SF for pending listings, which turned south after April 30 and has been on a downward trend since. We always say you can't predict sales prices by looking at the history of sales prices. You can predict them in the short term by looking at pending listings prices and you can predict them in the longer term by studying the balance between supply and demand. A 15% rise over three months is bound to increase supply and reduce demand, but at the moment the reduced demand still far exceeds the increased supply, so the underlying long term price direction is up. The short term direction is down and we need to see the average $/SF for listings under contract stabilize and take another move higher before the market can make significant price gains over $100 per sq. ft. The stabilization seems to be done and a slight upward trend may be taking shape, but we do not expect any more months like February through May for quite a while. A slow and steady price recovery is healthier and less stressful.

The drop in pricing between May and June was due to a number of different factors:

1. A large increase in the percentage of short sales closed in June versus May. We currently show short sales taking a 34% market share in June versus 26% in May. This is a huge change for such a short time. It also drove the listing success rate for short sales to an all time record high of 82.6%. Please refer to our daily observations for comments about how these short sales tend to be significantly over-reported by ARMLS at the end of a quarter. This effect may dissipate a little over the next couple of weeks.

2. A sharp fall in the number of Greater Phoenix high end luxury homes closing in June versus May. We saw only 2 sales of homes listed over $3m during June, very different from the 15 we saw during May. However the price range between $1 and $3m did rather well in June with 98 sales versus 96 in May. Both totals were higher than in the corresponding months in 2011 and the low to mid luxury market is showing considerable improvement.

3. A reduction is average $/SF for all categories of closed sales. Normal sales retreated from $118.64 to $116.86 per sq. ft. a decline of 1.5%. Lender owned properties declined from $75.18 to $74.50 per sq. ft. down 0.9%. But the biggest price drop by far came with short sales which fell from $77.90 to $72.91 per sq. ft. This decline of 6.4% was very sudden and coupled with the gain in market share for short sales was the largest reason for the overall price decline in the market. It seems lenders are keen enough to avoid foreclosures that they are now agreeing to short sale prices that are below what could be obtained for the home as an REO.

Average $/SF was generally strongest above $225,000 while the lowest price ranges weakened except for the extremely hot segment of $100,000 to $125,000.

Overall supply recovered very slightly during June, but when we look at specific geographies, we see some big changes in different directions. The much higher pricing at the low end has brought out more sellers in places like El Mirage, where active listings (excluding AWC) rose by 71%. Other cities with significant rises include Arizona City (up 29%), Queen Creek (up 28%), Gilbert (up 26%), Maricopa (up 25%), Tempe (up 23%), Tolleson (up 23%), Anthem (up 20%), Glendale (up 18%) Laveen (up 17%) and Mesa (up 16%). However further falls in supply occurred in Gold Canyon (down 19%), Sun City (down 16%), Cave Creek (down 8%) and Scottsdale (down 6%).

Sales volume strengthened by 5% over May with 9,051 sales reported through ARMLS, but it was down 13% compared with June 2011 due to the ongoing tight supply.

Maricopa County foreclosures were subdued in June, with 3,902 Notices of Trustee Sale - down 14% from May and down 13% from June 2011. Completed Trustee Deeds numbered 1,838, down 14% from May and down 55% from June 2011. Among the residential parcels that received Trustee Deeds, only 824 reverted to the beneficiary. This is fewer than in August 2007 and indicates REO inventory will continue to decline. Total REO inventory of residential properties in Maricopa County is now 5,907, down 72% from its peak in October 2010. The number of residential properties that have active foreclosure notices is 16,450, down 6% from last month and down 65% from the peak of December 2009.

Despite the sudden reversal in price movement in the last couple of weeks, the market has not really changed dramatically. However the greater supply at the more affordable end of the market will tend to create higher volume of lower priced homes. This is good for frustrated buyers but will mean the averages and medians may not resume their upward trend for a while. This should not be seen as a problem. A 15% price rise for March, April and May would normally be more than enough price movement for a whole year.

If you or someone you know needs help with either purchasing or selling a home, please let us know- we are happy to help! Just call 480-243-4242

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Are you considering a “Strategic Default”?

Strategic Defaults

 

Not sure what to do with your current home you are upside down on?

Should you rent it?  Should you Short Sale it? Is it even upside down any more since the prices have been on the rise the last 6 months?

Worried about the Mortgage Forgiveness Act expiring?

You see how low the rates are today and wish you could buy a home? Well, Maybe you can…

See this Brochure for more info regarding the “Home Again” program through our partners at Academy Mortgage, the law firm of Mack, Drucker, & Watson, and First Sonoran Property Management.

We definitely believe it’s imperative to get the proper advice and have sought long and hard to find the right professionals in their own respective fields to counsel our clients down the right road with regards to Real Estate in today’s very complicated market.

Please call us at 480-658-0265 or click here to get started  and have all of your questions answered by the right people!

short sale

Chase Short Sales in Arizona *UPDATE*

http://integrityallstars.com/chase-short-sales-in-arizona-also-wamu-lpbs/

I’ve posted a couple of blogs in the past on JPMorgan Chase Short Sales, one on their List Assist Program and another on Chase Short Sales in general.

Since things are constantly changing at the Banks regarding Short Sales, we decided it was time to give our viewers an update regarding Chase Short Sales and how they’ve been doing this past year.

If you or someone you care about is possibly interested in applying for a Short Sale with Chase, please be sure to call us at 480-696-5800 or click here to get started.  We work with them often and there is Chase Specific Paperwork that will need to be completed for them.  You can download it here if you need it.

short sale

Well Fargo Short Sales in Arizona*UPDATE*

 

Last year we did post a blog on Wells Fargo/Wachovia Short Sales and things have changed some, so we felt it would be beneficial to post an Update on how things have been going with them lately.

If you are interested, you can click here to see what we had to say about them last year this time….

In the past, they have been one of our favorites to work with and sure hope to be able to say that again very soon.  Wachovia still offers financial incentives to do Short Sales on average of $3000, depending on the borrowers hardship.

If you have a Wells Fargo or Wachovia loan and want to discuss your personal situation and find out if Short Sale is right for you, please click here or call us at 480-696-5800. We are always happy to help!

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What is considered an “Acceptable Hardship”?

It seems that documenting a hardship is one of the major issues we contend with for our clients during the Short Sale approval process.  Writing the letter of Hardship for your Short Sale application is a crucial piece of the puzzle and must be done with thought and care in order to get the best results in the end for a Short Sale approval.

Not having a hardship per se doesn’t automatically keep someone from getting approved to do a Short Sale, but it will impact the final outcome and whether or not the bank will be looking towards the homeowner to contribute to their loss versus awarding them incentive money to move forward with a short sale versus having a foreclosure on their record.  Here’s a link to an article that also speaks of Hardships with a list a commonly accepted reasons for Hardship.

We have in fact helped clients close escrow on their Short Sales and turn around a purchase a new home right afterwards, it can be done in some cases but requires good negotiations based on a financial settlement offer rather than focusing on a Borrower’s Hardship.  (click link here for article)

Everyone’s financial picture is different, so no matter your personal situation- it’s worth consulting with us specifically on your situation if you are still upside down on your home.  Not sure if you are- use our calculator here free!

Please click to get started here or call us anytime at 480-696-5800.

short sale

Bank of America Short Sale *UPDATE*

Click here to watch Last years video update on Bank of America, some things have been changing over there and all good from our experiences working with them this past year.

Recently, Bank of America has been making big news- see the article just posted today Link to Article regarding incentive money.

On May 15, click the following link to read an email we received from Bank of America regarding the incentive money.

So long story short, if you are one of many who are still in a home that is worth less than you owe and you make your payments to Bank of America, now very well may be the time to apply for a Short Sale with them.

Here’s the paperwork we need in order to help you get started with selling your home BANK OF AMERICA PAPERWORK.

Please call 480-696-5800 or click here if you would prefer to speak with someone first to answer whatever questions you may have about the “Process”. We are here to help you or someone you know get through it as easily and quickly as possible.  We’ve helped countless numbers of families with Bank of America and don’t plan to stop anytime soon!

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“Home Again” after a Short Sale

Thanks to the Mortgage Forgiveness Act of 2007, Signed by Bush (Set to expire end of 2012)- SHORT SALES EXPLODED across the Nation as we saw home value plummet after 2006.  Long Story short, until then, the Phantom Income written off by the banks after a Foreclosure or Short Sale was considered taxable income. Today (for now), the Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. (See link for more details) We do expect a rush towards the second half of this year on Short Sales if the current administration in office does not extend the Act; which could cause even more delays in the Short Sale process due the the increased volumes the banks may be dealing with.  But with that said…

Nothing gives us more satisfaction than being able to help a family out from under a home they are upside down on and can not afford any longer, into their next home.  With today’s crazy low interest rates and sales prices, now really is the time to buy.  It’s usually much more affordable than renting and the key is the right counseling up front so that sooner than later, you too can be back in the buyer market again after either a Short Sale or Foreclosure.

Some can buy a “Home Again” right away, some take 2-3 years for their credit to re-coup enough in order to do so.  We partner with Ryan Nelson of Academy Mortgage right up front at time of Short Sale application so we can game plan the right solution for you and your family right from the beginning of the Short Sale process.  This helps to ensure we get you into your own “home again” as soon as possible.

Please call our office at 480-243-4242 to get started or Click HERE

Want FREE Movie Tickets for 2? Are you a Past Client? Are you on LinkedIn?

AllStarSBRebeccaIf you answered YES to those 3 questions, please help me by recommending me online for future prospective clients to see. I always send surveys after closings to our clients because I care about their experience and it's very important to me that we do a good enough job that someone would be willing to recommend us to people they know.... but they don't always come back in the snail mail. 

On occasion, when someone is shopping around online for their next Realtor, I need to be able to share these recommendations and it would be so appreciated if you are willing to take a couple of minutes to express your experience with my services if I did a good job for you. Those that do will get a FREE pair of movie tickets to Harkins Theatres and if there isn't one near you, I can certainly find a Theatre that is! Please click the box below to give me a recommendation! You will need my Name: Rebecca Hidalgo and my email address: rebeccahidalgo@cox.net. I really appreciate it!

View my profile on LinkedIn

Thank you!

Rebecca Signature

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Was one of your New Year Resolutions to…. ???

Seems the whole world at the end of any given year going into the next makes New Years’ Resolutions and Goals of things they’d like to do in the following year.

For me, to be a better Mom and Wife and take better care of my health… pretty boring stuff- somewhat the norm- I do also want to buy a home again myself as my own waiting period of 3 years after a Short Sale or Foreclosure is coming around already and I figured I probably wasn’t the only one.  Since 2007, with the help from my team, we’ve helped over 300 families either Short Sale their home OR buy a home and we’d love to do the very same for you or someone you know that may need our help. If you are one of our past clients, the timing may be right for you this year to buy again too?

IF SHORT SALE is something you’ve been putting off- PLEASE DO NOT put off any longer- as it stands now, The MORTGAGE FOREGIVENESS ACT OF 2007 signed by Bush is set to expire at the end of this year.  Short sales can take 3-6 months on average.  If this does not get extended soon, I predict that we are going to have a rush of Short Sales towards the second half of this year which may cause additional “traffic jams” with the lenders. Some folks trying to do a Short Sale in 2012 may miss the boat entirely for the forgiveness of the “Phantom Income” that the banks issue via 1099s at the end of each year from their losses on distressed loans. DON’T let this happen to you or someone you know! Click Here to get started with the Short Sale Process

On the flip side, it’s never been a better time to buy- RATES are @ 4% and sales prices lower than I’ve seen in most of my nearly 20 year career in Real Estate.  Click Here to see the in depth Power Point Presentation from Mike Orr of the Cromford Report with very interesting statistics on our current market and what it’s done the last couple of years.

Either way- we are here to serve! Please feel free to call us anytime at 480-243-4242 for help achieving your Real Estate Goals!

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Upside down on your house?

Please feel free to use our free new Short Sale or Stay Calculator, click here OR go to tab under TOOLS on our website tool bar ------>>

It will tell you instantly what it’s current value is and predicts under different appreciation rates how long before your home will be worth what is owed again and at what cost to you.

It’s a great tool to help people make that very difficult decision- Do we STAY in our home or do we GO?

We are also here to help you make that decision; you can click here to get started with a personalized application and Rebecca and her team will get back to you with a personalized Report and FREE consultation.

We know how hard this decision is and are here for you and your loved ones. You can always call Rebecca directly at 602.463.2978 to ask her any questions related to Short Sales.

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Great South Chandler Home For SALE!

PRICE APPROVED BY LENDER ON 1st- BRING YOUR OFFER AND GET IT CLOSED! Old Stone Ranch Lake community by Shea Homes.4 bedrooms++loft and 3 bathrooms,medium maple cabinets, stainless appliances, gorgeous granite countertops, upgraded flooring, 3 car tandem garage, gas fire place, outside BBQ island,too many options not to take a look at.. Builders base prices higher and doesn't include all of the upgrades or Front/Back Landscaping this home has- It's a bargain!

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4515827/syndicated/1/cgltguid/4DEB3FA9-35F7-4B76-9FB3-4B7C7E0F549B/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

New Listings this week- already have lots of interest- Contact us before they are gone!

COURTYARD HOME IN CENTRAL GILBERT

Great LOCATION and Neighborhood amenities; RIGHT NEXT DOOR TO GREENBELT AND POOL- why deal with a yard to maintain when you have the best of both worlds? This is a perfect sized home for a family or roommates with very good sized secondary bedrooms and huge loft upstairs. Very well taken care of, not your average short sale- will go quick- very nicely decorated. In ceiling surround sound speakers will stay. Two toned paint and accent walls throughout. Windows also energy efficient for better cost savings on utilities.

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4626878/syndicated/1/cgltguid/B2DCD6AC-8597-4D5F-A8E3-3DD7FAF88B31/?ts=crg

20110805195518663409000000-opORCH20110805195523350037000000-o20110805200532447717000000-o   

 

CUSTOM LUXURY BASEMENT HOME WITH RV PARKING IN MESA NORTHGROVE

5 bed, 3.5 bath Mesa home for sale. Asking $350,000. CALL 480-243-4242 TO SET A PRIVATE APPOINTMENT TO SEE INSIDE!

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4626182/syndicated/1/cgltguid/A17B1C7A-5054-410D-BA06-B1A4B79D083E/?ts=crg

kITCHEN POOL

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

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West Valley GEM FOR SALE- Former model home for a fraction of the original price- hurry before it’s gone!

Former Camelot MODEL HOME Available! Located in the gated golf community of Cortile at Palm Valley, this French Country beauty is LOADED with superior features and upgrades. GOURMET kitchen is a chef's delight with gorgeous cabinetry, fixtures & Island. STUNNING MASTER SUITE is your spa-like retreat! Unique floor plan includes a game room - all just waiting for you to call it home! Sellers are relocating, their loss is your gain.  One of a kind!

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4619510/syndicated/1/cgltguid/5E18B3A7-7E02-4467-BE22-A05EDE22E2C1/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

market trends

July’s current Real Estate Market Trends

With Inventory at a low of 29k in Maricopa County (This time last year we had 41k homes on the market); we are beginning to see multiple offers on our properties in just the last few weeks.  The “good” ones are going quick.  Prices continue to defy the law of Supply and Demand and are staying low, at least for now. If you are thinking about buying or selling- NOW is definitely the time.  Please give us a call at 480-243-4242 if there is anything we can do to help you or someone you know with their Real Estate needs.

tempe arizona

Brand New to Market-Tempe with a pool for $125,000?!

Make your appointment now. This home will not last long. 3 bedrooms 2 bath diving pool, back-splash tile in kitchen, remodeled both restrooms, upgraded with new windows and paint. Walking distance to all schools.

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4604857/syndicated/1/cgltguid/40E45145-4369-434F-AAFE-EBA07BD8193E/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

maricopa arizona

Listing deal of the day! Maricopa,AZ – just $43 per sqft!?

Great investment opportunity. 3 bedroom 2.5 bathroom home with loft. Tile in all the right places. This home comes with Refrigerator, Washer and Dryer.

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4588549/syndicated/1/cgltguid/2352BF5E-E79E-41D5-AA87-33E3A947B7C0/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

short sales

Citimortgage Short Sales in Arizona

We’ve been asked to do a series of short video clips regarding our experiences with the different Lenders that we commonly work with on behalf of our clients to get their Short Sales approved.  Today’s video is on Citimortgage.

If you have a home and Citimortgage is the Servicer and you are considering selling your home as a Short Sale, please watch this video for more information.  You can also call us directly at 480-243-4242 OR fill our our short Questionnaire online here and we will contact you right away to help you get started.

We’ve now done videos on Bank of America, Chase, Wells Fargo, GMAC, and Citi.  If we didn’t mention your lender, please call us directly and we are happy to share with you our experiences with your lender.  After 150+ successfully closed Short Sales, our team rarely comes across one we have not worked with yet.

chandler arizona

Listing of the Day! Chandler, AZ- single level across from City Pool, Park and School- Perfect Investment!

WOW!! DON'T MISS THIS GREAT OPPORTUNITY TO BUY A GREAT HOME IN EXCELLENT CHANDLER LOCATION**VAULTED CEILINGS** BLOCK FIREPLACE** NICE SIZE MASTER*** LARGE 2ND B/R** LARGE CORNER LOT.  Seller will be repainting and carpeting this home to have turnkey ready within the next 2 weeks.

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4585805/syndicated/1/cgltguid/AAD111BE-64D6-42DB-9B50-28E7F7AA162B/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

short sales

GMAC Short Sales- Why we love them!

We’ve been asked to do a series of short video clips regarding our experiences with the different Lenders that we commonly work with on behalf of our clients to get their Short Sales approved.  Today’s video is on GMAC. We’ll be sure to post Citimortgage next, so stay tuned.

If you have a home and GMAC is the Servicer and you are considering selling your home as a Short Sale, please watch this video for more information.  You can also call us directly at 480-243-4242 OR fill our our short Questionnaire online here and we will contact you right away to help you get started.

short sales

Chase Short Sales in Arizona (also WAMU & LPBS)

 

We’ve been asked to do a series of short video clips regarding our experiences with the different Lenders that we commonly work with on behalf of our clients to get their Short Sales approved.  Today’s video is on Chase Mortgage. We’ll be sure to post GMAC next, so stay tuned.

If you have a home and Chase, Washington Mutual (WAMU), or LPBS is the Servicer and you are considering selling your home as a Short Sale, please watch this video for more information.  You can also call us directly at 480-243-4242 OR fill our our short Questionaire online here and we will contact you right away to help you get started.

short sales

Wells Fargo Short Sales in Arizona

We’ve been asked to do a series of short video clips regarding our experiences with the different Lenders that we commonly work with on behalf of our clients to get their Short Sales approved.  Today’s video is on Wells Fargo, We’ll be sure to post Chase next, so stay tuned.

If you have a home and Wells Fargo or Wachovia is the Servicer and you are considering selling your home as a Short Sale, please watch this video for more information.  You can also call us directly at 480-243-4242 OR fill our our short Questionaire online here and we will contact you right away to help you get started.

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Deal of the Day! South Chandler, AZ- Shea Home in Old Stone Ranch loaded with Upgrades!

APPROVED SHORT SALE!!! NO WAITING FOR AN ANSWER FOR THIS ONE! Old Stone Ranch Lake community by Shea Homes.4 bedrooms++loft and 3 bathrooms,medium maple cabinets, stainless appliances, gorgeous granite countertops, upgraded flooring, 3 car tandem garage, gas fire place, outside BBQ island,too many options not to take a look at.. Builders base prices higher and doesn't include all of the upgrades or Front/Back Landscaping this home has- It's a bargain!

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4515827/syndicated/1/cgltguid/4DEB3FA9-35F7-4B76-9FB3-4B7C7E0F549B/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

mesa arizona

Listing of the Day – Mesa, AZ – Las Sendas Eagle Crest Custom Beauty

A must see multi-level Santa Barbara custom home on a hillside lot with sensational city views and majestic sunsets and red mountain views. Energy efficient block home. Gourmet kitchen w/Kitchen Aid appliances,gas range,granite countertops, refrigerator & huge pantry with dumb waiter. Custom Alderwood cabinetry. Solid wood doors. Luxurious master w/ beams. Natural stone flooring, canterra accents, audio, Outdoor living courtyard area w/pool and large rear yard. View decks and patios for observing the sunsets & city lights. Easy access to hiking trails.

Full Details

http://www.integrityhomebuyingguide.com/listing/mlsid/8/propertyid/4434915/syndicated/1/cgltguid/301D253E-A80B-4C94-84F5-A3F887E4B479/?ts=crg

Listing Courtesy of Rebecca Hidalgo, Integrity All Star Realty, LLC

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Chase’s List Assist Program paying people up to $20,000 to do a Short Sale???

It’s true- they are sending letters like these out to their customers who’ve missed at least a payment and are considered at high risk for default. Here’s a copy of one that went out to a borrower if you are curious to see what they look like. “Chase is pushing to put Foreclosure out of business” according to Cameron Maye of Chase Bank.  They are expediting the process and about 1 out of 4 borrowers may qualify to receive this incentive.  Call us at 480-243-4242 and we will help you find out if you are one of the lucky ones!

“Will I still owe $ if I do a Short Sale”

 

This has got to be one of the most commonly asked questions we get when someone is considering doing a short sale.  The answer is complicated and depends on each individual’s situation.  I had a few of my clients call me after seeing/reading the following article- click here to read: Article in AZ Central regarding people owing $ after a short sale

The following questions help us give people answers on what to expect if they are going to apply to do a short sale- see here: Answer a couple -’s here to see if we can help you

fntshortsaleguide1-001Once we know whether the loan(s) in question were used to buy the home; or cash was taken out and used for other things- we can usually point our clients in the right direction to consult with other professionals depending on their concerns.  We always recommend talking to attorneys and/or accountants since everyone’s situations are so unique.  We are lucky that we are in Arizona, because our laws here offer protections against judgments from the banks in many cases- whereas in other states, there are no legal protections regardless if the loan was used just on the home or not.

The biggest thing we can do to help is make sure in the end, that our clients have read and understood the terms of their approvals to do a short sale so that there are no surprises down the road.  Please call us to discuss your personal situation; we offer no cost consultations free of any obligations- 480-243-4242.

market trends

Housing and Mortgage Predictions for 2011

Predicting mortgage and housing

 

With 2010 com­ing to a close, the “experts” are out in full force, mak­ing pre­dic­tions for next year’s hous­ing and mort­gage mar­kets on busi­ness tele­vi­sion and in the papers.

Pre­dic­tions for 2011 are wide-ranging:

The prob­lem with hous­ing and mort­gage pre­dic­tions is that — like all pre­dic­tions — they’re just edu­cated guesses about the future. Nobody knows what will really hap­pen with the hous­ing and mort­gage mar­kets in 2011. All any­one can do is the­o­rize. As layper­sons, though, it can be hard to sep­a­rate the­ory from fact.

Tele­vi­sion can make that task even more dif­fi­cult at times.

As an exam­ple, when a well-dressed econ­o­mist goes on CNBC and presents a clear, suc­cinct argu­ment for why home prices will fall on 2011, we’re inclined to believe the analy­sis and con­clu­sion. After all, the out­come seems plau­si­ble out­come given the facts. But then, imme­di­ately after, a dif­fer­ent econ­o­mist presents an oppo­site argu­ment — that home prices will rise in 2011 – and her analy­sis seems sound, too.

Even Fred­die Mac can’t see the future.

Last year, the gov­ern­ment group pre­dicted mort­gage rates to 6 per­cent in 2010. That never hap­pened, of course. Instead, con­form­ing mort­gage rates dropped over a 7-month period this year to lev­els best be described as “his­toric”.  Fred­die Mac couldn’t have been more wrong.

So, what’s a home­owner to believe?

About the only thing that’s cer­tain right now is that mort­gage rates remain low by his­tor­i­cal stan­dards, and that home prices do, too. Also, that both hous­ing and mort­gage mar­kets appear to be rid­ing momen­tum higher into 2011.  This sug­gests that it will be more expen­sive to buy and finance a home by the end of 2011.

Until that time, how­ever, pre­dic­tions are just guesses.

(Article above posted on several blogs and websites as of 12/29/10— original source unknown)

__________________________________________________________________________________________________________

In my opinion; after the roller coaster rides of 2008 through 2010 (government intervention impacted supply and demand)- we will see 2011 still riddled with foreclosures however the market did hit a second bottom locally 10/10/10 according to The Cromford Report (first one was 4/6/09).

I personally expect it to remain relatively flat since I am currently selling homes at or below pricing of when I started in the Real Estate business nearly 18 years ago- there just isn’t much more lower it can go and as the economy in general recovers, prices will slowly increase- that is for certain!  (That’s just an educated guess based on the article above- lol )

With that said; many buyers have sat on the fence waiting to see what will happen next year before they do anything.  Unfortunately we won’t know for sure when we’ve started a permanent “recovery” until after prices do increase, meaning those waiting for certain indications will actually miss the bottom and purchase when the prices have already increased.  There are a lot of great “deals” out there TODAY when one really looks, they’ll come to the conclusion that it’s a great time to invest or “move up” into that home one could not have afforded 5 years ago.  There’s also something to be said for the enjoyment your own home brings and pride of ownership.

For Sellers who are upside down and either purchased or refi’d in years 2004-2008; unless the banks actually start reducing principal balances on debts owed- a strong consideration should be made with regards to doing a short sale today in order to get out from under that house.  If the market ever returns to the record high in 2005, it’s unlikely it’ll be anytime soon.  Most likely, it will be several years down the road before those homes could ever be worth the same values again that we saw before.  Why keep throwing “bad” money in after “bad” money in the meantime?  If you haven’t gotten behind in your payments yet, we’ve helped clients successfully sell short and immediately repurchase today (it’s actually possible to do a short sale and not damage your credit, just ask us how!).

For Buyers; Rates are still in the 5’s and prices at record lows; you cannot go wrong with purchasing a home today if you can qualify for a mortgage loan OR have cash on hand (calling all investors)!  For current renters; it’s a no brainer- with the tax advantage of home ownership and the net effective house payment vs. rent comparison- renters can live in much nicer homes today for the same or less money monthly than they can renting.  Click here to read more…

Click here to get started OR call 480-243-4242 and we will gladly help you navigate through all of this confusion and help you achieve your and your family’s Real Estate GOALS for 2011- just let us know what you need and we’ll be there for you, your family and/or friends!  We are never too busy for your referrals and greatly appreciate our past clients passing the word about us on to others.

short sales suck

Short Sales S*&k; What sets US apart & Why we do them for our clients.

Short sales are challenging– we know!

· The rules of the game are always changing

· Banks give bad advice

· Buyers bail; get tired of waiting for an answer on their offer

· The short sale process can take what feels like forever, and sometimes it does- especially when someone else does them…

WHY DO WE DO THEM?

We started doing them when the market started to decline in 2007 and the “Mortgage Forgiveness Act” made it more feasible; not to mention people who we sold homes to started coming to us asking us to help them get out from under the home we’d help them purchase.

We saw THE need and we decided to meet IT.  Hopefully our market will recover in the somewhat near future and short sales will not be our market.  If we help people today in a market when there are so many people that need help;  we hope that they will refer their friends and family to us and we can truly become their preferred “Realtors for Life”.

What sets us apart???

  • We are the “Goldilocks Team”! We are not too big and not too small and we didn’t just start doing short sales yesterday-unlike so many of the other realtors out there that claim to be the experts.
  • We are a more of a boutique brokerage which takes a hands-on approach to customer service.
  • Solo agents typically cannot handle negotiations themselves  and do a good job at a high volume; many outsource them to title companies or attorneys (which you usually have to pay for).
  • Mega teams often times lose touch and do not have consistent communication directly with their clients.
  • We intentionally have a hands-on approach to handling every single transaction internally. Our full time team negotiator and admin manager allow us to accomplish this!

We don’t give up!

  • Persistence – we don’t take no for an answer from the banks. We continue to ask for help through the banks corporate systems until we get someone to help us. This is due in part to our Negotiators 21 yrs in banking industry- she knows their lingo and how to operate with them. She only works for OUR team and OUR clients!
  • So many times throughout the process our clients give up and they feel defeated. We don’t give up at all on them and we exhaust all measures to fight for them (even when they’ve already given up).

We can relate to your pain…

  • We’ve literally lost sleep when we have a house scheduled for trustee sale and continue to fight to get them postponed until the day of, we never give up!
  • We have either empathy/sympathy for our client’s situation– everyone from our team has been touched by this market directly; either having to do a short sale themselves or for a close friend or family member.
  • Therefore; we are never too busy to pick up the phone to update our clients on their files or just to listen to them vent. We understand! (Even if we’ve spoken with them several times already that day)

**Clients**

  • Over 75% of our current transactions are referrals from past clients. We always follow up with customer surveys after the sale or purchase of their home because we are always trying to improve our service.
  • We really do care about our clients and they will tell you the same!  I had one tell me the other day that we spoil them with our response time and there was no comparison with his last Realtor, that he fired.  Those kind of compliments keep us going strong.

Call us today @ 480-243-4242 to get your questions answered confidentially with compassion or click here to get started now.

Did you know, you don’t have to “GO LATE” to do a Short Sale???

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(Check out the Visual Show of Josh’s new house HERE!)

WHAT’S EVEN BETTER THAT IF YOU ARE CURRENT AND HAVE NO LATE PAYMENTS, FHA WILL LOAN YOU MONEY THE DAY YOU CLOSE ESCROW ON YOUR SHORT SALE FOR A NEW HOME!

  • The misconception is due in large part to many servicers over the last couple of years telling borrowers if they wanted to do a loan modification or short sale, to have their file looked at, they had to be delinquent.  NOT TRUE ANYMORE for most servicers/investors. 
  • Depending on someone’s financial situation; they may not even have to contribute to the banks loss.  Some cases yes.
  • Josh’s FICO score was barely impacted at all by his short sale and before he closed, the underwriter for his new loan received his approval letter and approved him for the new loan because the approval letter he had was with “FULL FOREGIVENESS LANGUAGE” of his unpaid debt.
  • Josh closed 2 weeks ago and had let the previous homeowners rent for a couple of weeks, so he actually walked in the door to a check waiting for him.

Josh’s story is one of true success.  He retained his great credit; got out from under a home that was UPSIDE DOWN; took advantage of today’s great prices and rates (4.5% interest fixed for 30yrs).  So he ended up with a larger home with a pool closer into town for LESS than what his old mortgage payment was. 

IF YOU KNOW SOMEONE INTERESTED IN DOING THE SAME THING- PLEASE SHARE THIS SUCCESS STORY WITH THEM AND ASK THEM TO CLICK HERE TO GET STARTED WITH THE PROCESS.  INTEGRITY ALL STAR REALTY WILL HAPPILY HELP THEM TOO!!!

Of course if you are late on your mortgage payment, you can still do a Short Sale and buy a home again; but it’s a minimum of 2-3 yr waiting period at this time and lending guidelines are constantly changing.  (If staying current is an option still, call us right away at 480-243-4242 or click the link above to get started in case FHA changes their guidelines down the road.)

DENA JONES – What does she do for her clients?

Watch video so you can learn more about Dena and what she does to help our clients of the Integrity All Star Team.

ALSO, Please find Dena on Facebook and like her Fan Page when its goes live!

Do you want to avoid a stressful foreclosure and leave your home gracefully?

We help homeowners just like you and your friends who may be in a position where you think you owe more than your home is worth or you cannot afford to make your mortgage payments anymore or you just want to know what options are available to you.

There are many reasons homeowners choose to do a short sale:

  1. They recognize that to get the help they need is completely overwhelming and disheartening. There is light at the end of the tunnel! We can help you navigate through the HUGE organizations such as Bank of America, Wells Fargo or Chase systems and get you results. Many times clients come to us after being denied a loan modification and super frustrated already by their processes.  We don’t give up on our clients and because of that we have a very high success rate!
  2. A short sale will give the seller some control over the process and a potential seller incentive for moving expenses. YES, that is right I said “SELLER INCENTIVE”. Not all short sale situations result in giving the seller incentives for moving expenses, but in some cases a seller can get up to $5000 for moving expenses. How do you know if you qualify? Call us let us help you determine if there are any programs out there that will help you move into the next chapter of your life.
  3. A short sale helps preserve a neighborhoods market values and reputation. 66% of all homes that sold in August were either short sales or bank owned homes. The national average home price of a short sale is $213,900, an REO is $184,300 and a damaged bank owned home is $113,900. Homes that are damaged are bringing down home values and making everyone’s property values suffer. What can you do about it? Maintain your home and call us to sell your home in a short sale before it is too late. It’s amazing how many people worry about impacting their neighbors when they decide to leave their home, which is totally normal.
  4. They want to help preserve their credit so they can buy a home again someday soon. Did you know that based on today’s current FNMA lending guidelines that a person can apply for a new home loan 2 years after they had a short payoff through a short sale and people who had a foreclosure need to wait 7 years. Lending guidelines are always changing, but as of today a person can apply for a short sale 2 years after their short sale has been closed. ACTUALLY,did you know if you are current on your mortgage payments, FHA will give you a new loan NOW with no waiting at all? Contact us today and we can explain how that works.

Foreclosure can be extremely stressful – let us help you gain some control over your situation by helping you with a short sale, click here to apply online with NO COST to you to find out if we can help.

A little about Rebecca & the Integrity All Star Team!

Please watch my video about us and “Like” our fan page on Facebook- We are always sharing pertinent Real Estate information PLUS events taking place in the area. Please share with anyone you know that is in need of our services.  Thank you!  Rebecca Hidalgo, Designated Broker/Owner- Integrity All Stars 

What are the Top 3 ?’s people ask when considering a Short Sale instead of a Foreclosure?

Rebecca Hidalgo sits with Corey Peterson of Kahuna Investments and discusses the most FAQ’s she sees when clients contact her for advice/consultation on doing a Short Sale.  (Corey is an investor and helps many people by buying their homes with cash for a quick close)

1. Do I have to be late on my mortgage payment(s)?

2. When can I buy again?

3/4. (tied) What are my tax obligations and can the bank come after me for the loss (deficiency)?

Watch the video and if you’d like to discuss your own situation with Rebecca, please fill out our quick online questionnaire about you and your home or call Rebecca @ 480-243-4242.

HOME BUYER TAX CREDIT EXPIRATION, EXTENSION, AND EFFECTS ON OUR MARKET

 

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Here’s a link to the June Market report I wrote based on last month’s reports coming from Mike Orr of the Cromford Report.  If you want to get a better idea of what is going on in our market place today; I recommend reading both.  I’ve been full time in Real Estate since 1993 and I can definitely say we are on the road to recovery but we still have a long way before we get there.

Why hire us? If you need help in either selling or buying a home or know someone that does, please click here to get started or call us at 480-243-4242. 

Metro Phoenix’s JUNE Real Estate Market Update

June Metro Phoenix Real Estate Sales

(Please click on photo above for a downloadable PDF of the article written by Mike Orr of the Cromford Report; bullet points listed below)

Last month; in Metro Phoenix’s Real Estate Market we saw the supply of REOs increased substantially, short sales were stable and normal listings declined in number:

  • REO listings grew 11% from 5,087 to 5,626 (Greater Phoenix, all types)
  • Short Sales / Pre-foreclosure listings grew 1% from 16183 to 16,347 (Greater Phoenix, all types)
  • Normal listings fell 5% from 18,123 to 17,226 (Greater Phoenix, all types)
  • Because sales pricing is higher than last year, we saw a more significant 8.6% jump in dollar volume which is good news for the optimists.
  • It seems likely that almost anyone who wants a "starter home" in 2010 and could get approved for a home loan has already purchased one before the Tax Credit expired at the end of April.
  • Overall we can say with confidence that the luxury market is now showing strong signs of improvement while the low end end of the market is weakening significantly. The weakness in lender-owned homes is particularly noticeable, with REO sales volume down 36% year on year. 
  • These annual charts are very slow to react to changes but confirm the bottom of the market is now over a year behind us.  The most important measures of real home pricing - the average price, median price and average $ per sq. ft. of homes that actually sell have been moving in a general upward direction for Greater Phoenix since April/May 2009.
  • New notices of trustee sale dropped another 8% from April, to the lowest monthly number (6,471) since July 2008. Trustee sales also dropped 8% to 4,090, the lowest total since November 2009. 
  • Nevertheless market distress remains very high and will dominate the market for at least the next two years. Short sales are becoming more significant as each month goes by, while lender-owned properties become gradually less so.
  • The market is still fragile and although it has stabilized over the last year, we must caution that in the last several days the Cromford Market Index has been falling fast due to weakening demand matched with a fairly strong and stable supply.
  • The biggest question we have right now:  Are the changes we have seen in the last month merely due to the end of the tax credit or are the result of more significant changes in the demand for housing??

Stay tuned for next months update and we hope to be able to answer that question for you.  In the meantime; if you’d like to discuss your particular situation with one of our very talented and experienced Realtors, please call us at 480-243-4242.

Are you embarrassed or scared? Don’t know where to turn for help?

 

  • Are you at risk of losing your job or have you already lost it?
  • Do you know where the money to pay your next mortgage payment is coming from?
  • Are you afraid of getting your family locked out of your own home by your bank? 
  • Do you know that 58% of the loan modifications that even do get approved, end up in foreclosure/default again within 4 months?
  • Did you know that in Chandler alone, 3 out of 5 homes on the market are considered “distressed” sales. (Either Short Sales or Bank Owned)

If you answered yes to any of these questions; please reach out to us for help now before it’s too late, click here to get started. 

We will gladly give you a compassionate & intelligent conversation when the time is right for you and your family!

IN THE MEANTIME; THERE ARE LEGAL RIGHTS THAT GIVE SOMEONE TIME STILL IN THE HOME AFTER A TRUSTEE SALE: Please read the following article AZ Republic: Eviction Adds to Pain of Home’s Foreclosure.  In this, Michelle Lind, general counsel for the Arizona Association of Realtors, explained how the state’s eviction laws work. "The buyer of a foreclosure home has to give the home’s former owner notice to move out," she said. "If after five days the former owner doesn’t move out, the new owner can file with the courts for a forcible eviction."

You do have rights and don’t have to be alone, call us at 480-243-4242 and we will do our best to help!

Should I stay or should I go, by Jeff Underwood of Ugly Truth about Money.com

 

Jeff Underwood is asking whether this family should stay in their home and he has a poll on his website http://theuglytruthaboutmoney.com/ .  Last I checked, 75% had voted to move forward with a short sale.  In my humble opinion, this family needs to stop throwing in bad money after bad money and I voted to do a short sell right away. 

What I have found with my experience with all of the clients we’ve helped short sell their homes is that most people go through the 5 stages of loss when they are looking at their options with regards to their home. 

I did myself when I had 6 properties I was upside down on and needed to do something with- with 18k of monthly mortgage obligations and my 401k being eaten up, I finally accepted the fact that I was never going to recoup my money and to continue to drain my future retirement was insane.  I no longer own any of them and have started myself on the road to recovery and have a clean financial slate which feels really good to have all of them behind me now.

The 5 stages of Loss are:

1. Denial- It’s going to get better, right?  This can’t be happening to me!  My house has got to be worth more than what they say.

2. Anger- I can’t believe the neighbor just sold their house for half of what I paid for mine!?  How could they screw us like that?

3. Bargaining- If only the bank would let us do a loan modification and reduce our principle balance to what it’s worth; then our payment would be something we could afford….

4. Depression- The sadness and regret hit and this is when most aren’t making their payments because they just can’t any longer.

5. Acceptance- This is usually when we are able to successfully complete a short sale for one of our clients because they’ve realized that it’s in their best interest and are happy we are able to help.

Here at Integrity All Star Realty, we really do understand first hand the emotional roller coaster our clients experience with this process and if you would like to see if we can help you or someone you know, please complete the questionaire on our website and we will be in touch with you right away.