Even thought the temperature remain hot, the Fountain Hills Real Estate market has 'cooled' from July 5th to August 5th 2010. Residential closed sales have dropped from 520 to 473 (16%) and the properties currently in escrow (pending sale) were reduced from 413 to 348 (12%). The overall number of active listings has also been reduced from 2,914 to 2,896.
The slower summer month activity should increase with the approaching fall and winter months just around the corner. There are some excellent opportunities for those Snowbirds that descend on the Valley of the Sun.
Thanks to Parenting Magazine for recently ranking Scottsdale, Arizona as number 8 of the top 50 “ Cities for Families 2010”!We have lived here since 1981 and raised our two children here. I agree with the Parenting Magazine assessment and even think we could rank higher!Our kids thrived in both the Scottsdale public and private school systems. They have now graduated from college and are married. Scottsdale is a great place to raise happy healthy kids.
To compile the information for the city ranking,the Parenting Magazine surveyed women who were members of the magazine's MomConnection research panel, a nationwide group with 5,000 members.
So how did they come up with a ranking system??
Each member surveyed was asked to rank in priority the most important factors for raising a family. They offered their opinions regarding quality of schools, job availability and growth, affordability and availability of quality housing, number of registered sex offenders, commute time and distance, quality and quantity of child-care facilities and preschools, recreational opportunities and more.See the AZ Central article for more specifics!
The magazine ranked Scottsdale third in the nation for recreation.
Scottsdale has a total of 27 neighborhood parks and a little less than 1,000 acres ofparkland. In addition, the magazine looked at the McDowell Sonoran Preserve, which covers about 14,000 acres.
Here are just a few of the park options available in Scottsdale
·Stillman Railroad Park(30-acres)
·McDowell Mountain Ranch Park and Aquatic Center(35-acres)
·Eldorado Park Scottsdale (60-acres)
·Mescal Park Scottsdale (10-acres)
·Osborn Park (13-acres)
·Pima Park (7 acres)
·Mountain View Park & Community Center (20-acres)
·Northsight Park (19-acres)
·Pinnacle Peak Park (150-acres)
Other Phoenix metro cities that made Top 100 city list were Phoenix # 44, Tucson # 52; and Mesa # 62.
Fountain Hills, Arizona is located approximately 30 miles northeast of Phoenix. It is a unique master planned community situated on 12,600 acres of rolling foothills terrain, surrounded by magnificent panoramic mountain views. The community was developed to to blend in with the natural splendor of the high Sonoran Desert. The town grew up around the world-famous fountain located on in a 30-acre park right in town.
So, How Fair is FOUNTAIN HILLS??? State Route 87 often referred to as the "Beeline Highway" (SR 87) is a state highway that connects the east valley cities of Fountain Hills, Chandler and Mesa, with Payson in Gila County.
Driving distances are minimal: 19 miles to Old Town Scottsdale, 17 miles to Mesa, 65 miles to the pines of Payson and 30 miles to downtown Phoenix. Convenient to sports and entertainment venues and a refuge from the hustle and bustle of the large metropolis. Fountain Hills offers a moderate climate, clean air and a bounty of outdoor activities.
Are you Aware? Are you ever too old to improve your skills?
The Scottsdale Community College - Business Institute offers new on-line and one-campus classes starting EVERY week!
Short term classes and low tuition - only $71 per credit!
The college offers effective and flexible accelerated Adult Learning. The Business Institute offers Accelerated Credit Programs as well as Non-credit programs & workshops. The accelerated, accredited classes are available from two to eight weeks in duration. The non-credit workshops can take just a few hours to prepare you for career training.
Most of the classes are available either on-line or on-campus at the Business Institute. You can register on-line, via fax, or, of course in person at the campus. They can even assist you in requesting financial aid. Education made affordable and easy!
Check out a sampling of some of the classes offered:
Writing resumes (very important in today's difficult job market)
Business Communication - verbal and nonverbal
Investments 1 - stuffy inflation, taxation, stocks, bonds, real estate, etirement plans and more!
Customer Service Skills and Strategies - improve job performance and get practical training.
Techniques of Supervision - planning, organizing, staffing
Ever thought about your own business? Try one of these classes
Owning and Operating a Small Business
Internet Marketing for Small Business - ever thought about your own business?
The Scottsdale Museum of Contemporary Art is hosting the Annual "I Spy Artwork" Summer Family Fun Night on Thursday July 22nd. The event will be from 5:15 to 7:30 pm and tickets for a family of 4 are $20.00. Additional tickets are $4.00 each. If you live in the valley of the Sun and plan to be here or if you are actually visiting the are in the 'warmth' of our Arizona summer, this will be a fun celebration for the family. You must preregister by July 15th to attend. RSVP to 480.874.4641
The event includes the Game of Goose, and "spyhopping," a behavior displayed by gray whale". The skyhopping adventure with Sue Chenoweth is described by the museum as "part board game come to life, part art installation.". Live music provided by Jeff Jones and the Earthtones will entertain the crowd. You can create your own autistic board game, play bubbles and other hands-on art projects. There will be refreshments. Be sure to bring your swimsuit and towel for playing the outdoor fountain. A great way to stay cool this month!
The Short Sale opportunity is here to stay for the foreseeable future. As qualified sellers and banks are jumping on board to sell these homes before they go into foreclosure, the 'system' for this type of sale is being perfected. Overall these can be complicated sales, but for those buyers willing to take the plunge, you can purchase a wonderful property at a great price! And, for qualified sellers, the Short Sale is typically a better option than the foreclosure for eventually purchasing in the future. There is are benefits for lenders as well. The Short Sale is a much less expensive way to sell a property than the foreclosure. Therefore, it is a 'win - win' for everyone involved if it 'works'!
Fountain Hills, Arizona currently has 36 short sale properties available. They range in price from $164,900 to $1,100,000! Wow, what a range! The average days on the market for these properties is 146 days. You can view these properties in the MLS link below: (this is a July 2, 2010 snapshot)
Thinking about selling your property as a Short Sale? We can assist you.....please feel free to contact us for detailed information regarding the Short Sale Process
Want to purchasing a Short Sale Property? Ask us to send the latest Available Short Sale Options in Fountain Hills or other cities in the greater Phoenix metro area!
Home prices in the greater Phoenix metro area continue to be influenced by foreclosure-related activity. However, the foreclosure share of the recorded in May 2010 has decreased from 40% to the 33% recorded in March 2010.We are heading in the right direction.
Again, foreclosure activity varies across the valley (40% in El Mirage while only 22% in Tempe). Median foreclosure sales prices widely vary across the valley as well. Even in a single city the median prices can differ. For instance, in North Scottsdale the median price of a foreclosed property was $446,000 while in South Scottsdale the median price was $208,190.
Default and late payments remain at record levels. Will there be another wave of foreclosures?? The “experts” cannot agree. . if we only had a crystal ball. Time will tell.
(W) = West Valley Cities & (E) = East Valley Cities
Fountain Hills Parks and Recreation provides a variety of programs for people of all ages and ability levels. Another words, there is something for everyone!
For Toddlers: try SoccerTots is offered at Four Peaks Park. Arizona is a nationally recognized soccer program.
For Youth: For a fun filled day of art, register for the Fine Art's Workshops. Want to play like Tiger some day, how about taking Jr Golf Lessons. There are clinics for children and teens designed to teach basic golfing techniques. Classes are held on the driving range and practice green at the SunRidge Canyon Golf Club.
For Teens: TEEN EXCURSIONS are offered each month. Take trips to various locations throughout the Valley.
For Adults: There is basketball, softball, golf clinics, yoga and a Spanish classes.
For Older Adults: Check out Senior softball. Or join in the fun at the Veteran's Day Senior Softball Tournament.
CPR training is available for all ages!
Rotary Splash Park: Want to cool off from the 'warm summer temps'? The Rotary Centennial Splash Park at Fountain Park is open daily from 9 a.m. to sunset through Sunday, September 26, 2010. THe splashing is intended for kids but we 'big' kids might enjoy the cool water too!!
Spend a relaxing evening under the gorgeous Arizona sky as Ballet Arizona continues its annual season opening tradition with “Ballet Under the Stars”. Bring the entire family and enjoy a combination of classical and contemporary works in a casual setting for FREE.
Planning a wedding?? Fountain Park is a wonderful location for the wedding ceremony and our Event Center is available for receptions or rehearsal dinners. By contacting either department we can check the date availability for your event, quote the price, and assist with completing the reservation form. You may also be interested in having the “World Famous Fountain” operate during your ceremony as guests arrive or depart, or for photos before or after the ceremony.
Fountain Hills - a great place to live - work & play!!
Relocate to Fountain Hills, Retire to Fountain Hills, Buy an Investment Property of second home in Fountain Hills
Renovation Lending is a option for purchasing a property sold 'as is'. This type of loan will include the purchase price and repair money. Wow, the buyer can purchase the house and have the cash to pay for professional contractors to fix it up after closing! No need for ‘out of pocket money’ or a second loan to make the repairs to the property. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property.
In today's market place with so many vacant lender owned properties that require repairs (often just to make the home inhabitable), a 203(k) loan is a great option for those buyers who are unable to make an all cash offer.
The buyer must be FHA qualified and be the primary resident of the property. The most common terms and conditions of the loan are 30 year fixed. The cost of the rehabilitation must be at least $5,000, but the total value of the property must still fall within the FHA mortgage limit for the area.
When a property is initially sold there a Certificate of Occupancy (CO) is issued. The CO guarantees that the basic construction, wiring, plumbing, and other elements of the building are up to code, and can be certified as being safe for occupation thus allowing the new buyer to take possession. When a re-sale property is presented as collateral on a loan application, lenders obtain copies of the certificate of occupancy. Often with a distressed property, the buyer cannot obtain the CO because there are significant repairs required prior to habitation. Without the CO the buyer cannot get the mortgage. The 203(k) loan allows for the home to close and the repairs to be made through the title company account holding the repair money after the close. Once the repairs have been made and inspected, the buyer will receive the CO to take possession.
So you ask, What is the Process??
Well, first the FHA buyer should become pre-qualified with a lender who is proficient at the 203(k) loan. I was at a presentation from Bank of America today. They have a good program and would be an excellent choice for obtaining this type of loan. Once the buyer understands what he loan amount he can qualify for, then he views properties with his Realtor familiar with these programs. The property must be a one- to four-family dwelling that has been completed for at least one year.
So what price home should you look for? The borrower must find a property that will fall within the his lender qualification limit including the repair money. The property needs to fall with the comps of the are for the ‘completed repair value’. For instance, if you qualify for $200,000, you may want to begin looking at properties around $150,000 with a $50,000 window for improvements. The Realtor, the buyer, a trusted licensed contractor and the lender all work together to determine an estimate of the repairs required to make the property livable. If the estimate is within the buyer borrowing limits and the amount of the ’total loan’ (purchase price + repair cost) is within the appraised value for like non-distressed properties in the neighborhood, the offer for purchase is made.
Once the offer has been negotiated and accepted, the home follows the standard closing process. Upon close of escrow, the wheels for repair begin. With the non-streamline 203(k) loan, a HUD consultant is now immediately added to the team to determine the repairs and sign off on them as they are completed. Once the repairs have been completed and the work has passed the HUD consultant inspection, the money is paid to the sub-contractors providing the work. The repair money it held in an account at the title company for the specific property. All repairs should be completed and the home is to be is satisfactory condition for the new homeowner to move in within a 6 month window.
There are several benefits to this type of program. It provides an opportunity for home ownership by allowing for non-cash buyers to qualify for a loan to purchase a distressed property with no out of pocket expense for the repairs. It provides community and neighborhood revitalization as it speeds up the process to sell those vacant properties in a neighborhood while making the homes desirable again. These improved homes will also cause the home values in the neighborhood increase.
For additional information regarding these Rehab loans - check the HUD website
We would be happy to recommend lenders who would assist you with the 203(k) loan!
We are Full Time / Full Servie Realtors who can help you find your home!!
The excessive rain this winter brought more vegetation which in turn allowed for a larger than normal wild rabbit population to survive here in the beautiful Sonoran Desert. We have lived on our acre ranch style home here in Scottsdale since 1986. We typically have a wild rabbit population devouring our landscaping like a smorgasbord.
Due to the excess rabbit population this season, they roam the yards and are seen more frequently than they normally would be. This provides great entertainment for our dog who endlessly chases after them to keep our back yard 'bunny free'. They are much faster than she is and give her great exercise. They often run across streets from one home to another. You know the grass, er cactus, on the other side of the street always looks better than what you are currently chewing on. Unfortunately, it is not always easy to avoid hitting them if they happen to try and run across the street in front of your car. This morning there happened to be the remains of an unlucky bunny who did not make it to the other side of the street . . . . . however, no one needed to remove the carcass as there were 3 large vultures vying for their free and easy breakfast! I must admit, I do like our bunny population and am always sad to see one dead in the street, but it was definitely interesting to watch nature in progress!!
Beware, in this unusual real estate market there are also vultures ready with the latest scam to take advantage of the distressed homeowners. Be sure to use licensed Realtors, reputable lenders and research any offer that seems to be "too good to be true". Contact us for your real estate needs, references for mortgage modification, real estate attorneys, accountants and reputable lenders. We also have valuable Short Sale information to help you make an educated decision about the future of your property. Feel free to conatact us at any time ------ garyandclaudia@cox.netor direct at 602-402-8594
Selling Scottsdale Real Estate Blog is a comprehensive resource for both Buyers and Sellers to get to know more about Scottsdale Arizona as well as other parts of the Phoenix metro area Real Estate market.
With more than 325 days of sunshine annually, the State of Arizona is an outdoor enthusiast's dream, but for avid golfers, it's a real paradise! Check out the courses
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
ter on-line, via fax, or, of course in person at the campus. They can even assist you in requesting financial aid. Education made affordable and easy!
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