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investor tips: Home Inspections A Necessity For All Buyers - 04/09/11 02:58 PM
A home inspection can be the breaking point in a sale. Both buyers and sellers recognize the necessity of having a home inspection, but both have fears over the outcome. In today’s market, a home inspection is one of the leading decision-makers about whether to try to further discount the sale or not.
Buyers tend to fear that the house will have pre-existing problems that are going to be expensive to fix. They want the seller to pay for all of the necessary repairs, or potentially discount the price to cover the cost of repairing the home themselves. Therefore, there is a dependency on the accuracy and the integrety of a home … (2 comments)
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investor tips: What is a CIAS? - 12/16/10 04:28 PM
A Certified Investor Agent Specialist (CIAS) is an REALTOR with a thorough understanding of how to find, create, and close with real estate investors. In addition, the CIAS has been trained to identify and address the needs of the Five investor types: First-Time, Move-Up, Portfolio, Performance, & Rehab and Resell.
Here are some little known statistics about the real estate inestment market:
Over the past 12 months, investment and second-home properties comprised more than $300 billion in sales This represents approximately 19% of all residential real estate transactions 48% of investors made all-cash purchases 43% of investors earned less than $75,000/year … (0 comments)
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investor tips: Real Estate Investment Opportunites in Phoenix, AZ - 12/15/10 06:36 PM
To better serve the needs of real estate investors in the Phoenix area, I recently earned the Certified Investor Agent Specialist (CIAS) Designation. With the CIAS, I have the training, tool, and calculations to effectively serve the difference types of investors, whether a First-Time Investor all the way to a Prerformance Investor. Real Estate represents a consistent and stable way to build wealth, bring liquidity to our housing market, and stimulates the local economy. In fact, in the past year, investment properties represented approximately 19% of all residential sales. It's worh noting that nationwide, 43% if real estate investors earned less … (1 comments)
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investor tips: Investment Buying Tips for Today's Market in Chandler, Gilbert, & Queen Creek - 10/23/09 01:37 PM
Today's Market is bringing out many novice investors wowed byt the low prices. Prices in Chandler, Gilbert, & Queen Creek have dropped by about 52% since the peak in 2006. Many novice investors will look at the price and think, I can just buy this at such a great price and rent it, not considering the repairs that the home may need or vacancie rates.
Here are some of the key rules for noivce investors: These rules will serve you well when followed.
Number one: Due diligence is never optional. You've got to understand the local market - and that includes not just … (0 comments)
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investor tips: Investors & First-Time Buyer's - Chandler, AZ - 10/11/09 05:29 PM
Young people just starting to invest and buying their first homes are potentially the winners in this recession. They are winners multiple ways - the tax credit, high affordability, and historically low mortgage rates. Investors can be winners as well due the decline in property values since rentals properties can now cash flow due to the low mortgage rates. Both Invenstor and First-Time Buyers can reap high rates of return on a long term investment. First-time homebuyers accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®"This is a historic time," says George Jaramillo, a 35-year-old … (0 comments)
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investor tips: Arizona Governor signs bill that repeals change to anti-deficiency statute - 09/06/09 01:25 PM
Wonderful News for second home-owner's & Investors. Arizona Governor Jan Brewer signed HB 2008, which repeals SB 1271 and its change to the anti-deficiency statute. SB 1271 was set to go into effect on September 30, 2009 and would have changed the protections of Arizona's anti-deficiency statue.
For additional resources and information regrading short sales, visit us at www.az-short-sale.com
… (0 comments)
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investor tips: Update Regarding Arizona's Anti-Deficiency Statute - 08/20/09 07:38 PM
The governer's office has approved the special session of the legislature to review repealing the anti-defiency status. The good news is the Senate has transmitted HB 2008 to the governor's office. Depending on the circumstances, Governor Brewer could have up to 10 days to sign, veto, or allow the bill to go into law without her signature.
There are a couple of other provisions contained in HB 2008, including partial language from HB 2269 that effects the notification of tenants in foreclosed properties. The language requires the trustee to notify the tenant that the property is in foreclosure by mailing a … (0 comments)
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investor tips: Serious Changes to Arizona's Anti-Deficiency Statute - 07/23/09 12:55 AM
SB 1271 - Anti-Deficiency Law Change
The current law - Arizona Revised Statutes (A.R.S.) § 33-814 currently states that within 90 days after the date of sale of a trust property under a trust deed, a legal action may be brought to recover a deficiency judgment against the borrower (trustor) who has now had their property foreclosed. The deficiency judgment must be for an amount equal to the sum of the total amount owed as of the date of the sale either by the fair market value of the trust property as determined by the court or the sale … (1 comments)
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investor tips: Stonebridge Lakes Manor Home In Gilbert For Sale - 07/20/09 02:11 PM
This Adorable Home Is Highly Upgraded. Home Features Travertine Floors, Wood Floors In Den, Decor Paint. Kitchen Features Updated Appliances and Tile Counters. This Home Is A Great Starter Home And A Must See! Don't Let This Home Pass You By!
Call Gina McKinley, ABR, CRS, CDPE, Associate Broker at 480-355-8645 in order to schedule an appointment to view this home.
For more pictures and a property brochure, please visit our web page at http://www.LocateArizonaHomes.com/306Vaughn.
… (0 comments)
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investor tips: Perfect Time To Steal A Deal On Vacation Property - 05/05/09 02:31 PM
Although the market is at a record lows, right now is a fantastic time to purchase a second home in a vacation paradise at a great price, if you can afford it.
Since there are a significantly small amount of people that have the ability to spend money on this kind of luxury, sales as well as prices are down in many prime locations. Buyers with the desire and the funds can pick up a steal of a deal.BusinessWeek and Zillow.com took a look at the second-home markets where prices have decreased between the fourth quarter of 2007 and fourth quarter of 2008.Here is … (0 comments)
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investor tips: Superstition Heights Home In Mesa, AZ For Sale - 03/19/09 06:57 PM
***Great Investor Special*** Short Sale Steal With Tenants in Place. Lease Ends 6/30/2009. Property Is Professionally Managed. Super Clean Home With Split Floor plan, Tile Everywhere Except For Bedrooms, Stainless Appliances, Large Gourmet Kitchen With Island, Sunscreens & Ceiling Fans T/O, Water Softner And Much More!
Call Gina McKinley, ABR, CRS, CDPE at 480-355-8645 In Order To Schedule An Appointment To View This Home.
For More Pictures And A Property Brochure, Please Visit My Web Page at http://www.LocateArizonaHomes.com/540N105.
… (0 comments)
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investor tips: January's Residential Highlights - 02/04/09 07:56 PM
The number of homes that sold in Maricopa County in January 2009 was nearly 58% higher than in January of 2008 AND was nearly identical to the number of sales in January 2007!! January saw a 13% increase in the number of properties going under contract over December and compared to January of 2008, there was an increase of 61.8%! This was the best January we have seen in the 3 years of reporting period AND the best month since July 2008!
Pricing is still declining and January showed a 3.4% decrease over December 2008. The average sales price in January was once … (0 comments)
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investor tips: Buyers Being Lured to 100% Loan Program - 12/23/08 12:37 PM
Home buyers are learning about available 100% financing loan programs offered by the United States Department of Agriculture. There are two 100% financing loans available, which are VA loans and the Rural Home Loan program.
The Rural Home Loan program allows no-money-down purchases. A borrower can seek up to 102 percent when a mortgage insurance policy is included. Eligibility requirements are that buyers' income can't exceed 115 percent of the median county income. The loan program is restricted to low-density areas. which generally include towns of no more than a population of 25,000. The loan program is offered by private lenders, then insured by the government.
While Maricopa County does not qualify for the 100% … (0 comments)
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investor tips: Mortgage Rates Plunge to Record Lows - 12/23/08 12:11 PM
Freddie Mac reports that the 30-year fixed mortgage rate fell to 5.17 percent down from 5.47 percent last week, which is the lowest it has been since the survey's inception in 1971, in response to the Federal Reserve's cut in the federal funds rate to near zero.Interest on 15-year fixed loans has also slipped from 5.20 percent to 4.92 percent. Meanwhile, the five-year hybrid adjustable mortgage rate dropped from 5.82 percent to 5.6 percent. The one-year ARM dipped from 5.09 percent to 4.94 percent. Last year, the 30-year fixed rate stood at 6.14 percent, the 15-year fixed rate at 5.79 percent, the five-year hybrid ARM at 5.9 percent, and … (1 comments)
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investor tips: CDPE What's That? - 11/20/08 11:49 PM
Well, I am proud to announce that I have a few more letter's after my name.....and the are CDPE. And I'm one of the first real estate agent's in Arizona to do it. Woo, Hoo! Ok, so I now tooted my own horn, so what, right...
CDPE, What's that? It's a Certified Distressed Property Expert and what is really means is that I have both the knowledge and expertise to successfully negotiate short sales. While my short sale success rate was already very high at 100%, this new designation allows me to understand both the consumer's needs and the banks' viewpoint.
I … (2 comments)
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investor tips: Phoenix Housing Update: September Sales Surge 81%; Prices Plunge 28% - 10/21/08 12:22 PM
During September, existing home sales in the greater Phoenix metro area increased a remarkable 81% year over year, bringing the number of transactions recorded last month to the highest level seen since June 2006 (near the peak of the housing bubble). Similar to recent months, this volume improvement continued to be stimulated by sharp declines in home prices and foreclosure activity, with Phoenix area median prices falling 28% year over year to $170,000. Compared to September 2005, when the median price stood at $260,000, prices have declined 35%.
* Inventory listings fell 6% year over year, but despite the increased sales … (1 comments)
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investor tips: The Government Bailout of Frannie & Freddie - 09/08/08 06:21 PM
Some historic news yesterday. The government has officially bailed out and taken over Fannie Mae and Freddie Mac. There has been speculation over the last month that this could happen. It brings both good news and bad news. The good news is that it will allow banks to recover from more than $500 billion in subprime mortgages. This will increase liquidity and confidence in the mortgage market and may end the mortgage liquidity crisis. There is a very good chance that mortgage rates will decline as we have already seen some significant drop in interest rates today. Some experts are saying that … (3 comments)
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investor tips: Rates Vary Based on Economic Status, But Show Progress in Housing Market - 09/07/08 02:46 PM
Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 6.35 percent with an average 0.7 point for the week ending on September 04, 2008, down from last week when it averaged 6.40 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 6.46 percent.
The 15-year fixed-rate mortgage this week averaged 5.90 percent with an average 0.6 point, down from last week when it averaged 5.93 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 6.15 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.97 percent this week, with an average 0.6 point, down from last … (0 comments)
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investor tips: Investors Beware of Housing Bill Catch - 08/15/08 06:53 PM
Tax alert for real estate investors who use popular tax-free exchanges: The recently signed federal housing legislation contains a hidden zinger that could cost you thousands of dollars if you don't plan around it.
As of next January 1st, investors who exchange into rental or second home properties that they later convert into their personal homes no longer will be eligible for the full $250,000 to $500,000 tax-free exclusions now available on sales of principal residences.
Instead, they'll need to allocate their time of ownership between taxable investment or second home usage and non-taxable principal residential usage.
To qualify for … (0 comments)
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investor tips: The Key to Good Tenant Relations - 08/05/08 10:56 AM
It is important to attract and keep great tenants when you own investmentproperty. A good way to begin a positive tenant/landlord relationship iswith clear communication about what you expect from your tenants and whatthey can expect from you.
The written lease agreement spells out the legal obligations of each party.The landlord must ensure that the property is habitable and complies withlocal codes, and the tenant must pay the rent in a timely manner and notdamage the property. Make sure that the terms of the agreement are statedclearly in straightforward language.
Let the tenants know of your commitment to keep the property … (0 comments)
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Gina McKinley, ABR, CIAS, CDPE, CRS, SFR ~ Chandler, Gilbert, Mesa, & Scottsdale
Chandler,
AZ
More about me…
RE/MAX Masters
Address: 2390 W. Ray Rd, Suite 3, Chandler, AZ, 85224
Office Phone: (480) 821-5700
Cell Phone: (480) 600-1129
Email Me
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