Fountain Hills Real Estate Blog

Oh Canada!

Lisa Murray (RE/MAX Sun Properties) — Mon, 06 Oct 2008 11:03:04 -0500

There has never been a better time to buy real estate in Arizona! There is an unbelievable selection and prices are back to about 2003-2004! There are many reasons to buy real estate in the United States. If you're Canadian, parity of the two currencies (USD and CD) could be one of them. While I'm not going to make a recommendation on the wisdom of purchasing real estate in Arizona, I would like to inform you of what you might expect when financing a home as a foreign national. If you are considering a second (vacation) home in the United States the terms are a bit more favorable for you. The following is a list of requirements you can expect when obtaining financing:

1. Copies of passport and visa.
2. Last two pay stubs.
3. Last two bank statements.
4. Last two years tax returns. If self employed, a letter from an accountant stating how many years you've been in business, and business tax returns.
5. Verification of 2 years employment history.
6. International credit report - lender will order.
7. Set up American bank account for transfer of money.
8. Generally, the lender will require 25% to 35% down payment.

Of course, it wouldn't hurt to have a great real estate agent! For additional information on Fountain Hills real estate or any other communities you can contact me direct at 602.400.0250 or email me at Lisa@ISellFountainHillsAZ.com.

Government Bailout!

Lisa Murray (RE/MAX Sun Properties) — Sun, 21 Sep 2008 14:50:36 -0500

Well, we are certainly going through some interesting times. Personally, I find myself glued to the television as if it were 9/11 all over again! I don't think there was much choice in the matter. Something had to be done or there would be no more money to lend. Only time will tell how this will all shake out. I've heard that there are currently 10,000,000 distressed homeowners that are either currently in foreclosure or in default on their mortgage. The upside of that is that there are plenty of great buying opportunities for you! It seems that everyone has an opinion on this hot topic... I look forward to hearing yours. If you have any questions or comments on the Fountain Hills or Phoenix real estate market, give me a call. Lisa Murray - 602.400.0250 or send me an email at Lisa@ISellFountainHillsAZ.com.

Housing and Economic Recovery Act of 2008

Lisa Murray (RE/MAX Sun Properties) — Sun, 17 Aug 2008 16:39:09 -0500

Last Friday morning,at our weekly RMS Realtor meeting, we had a panel of local mortgage brokers and real estate brokers discussing and taking questions on the new H.R. 3221. It was obvious to me that most people don't seem to know a whole lot about it! So, I've done a little research and bill give you some of the key points to know. Then, I would love to hear from you with any questions you may have. This ought to force me to get to know it pretty well!

First-time Homebuyer Tax Credit - 10% of cost of home not to exceed $7500.
Purchase on or after April 9th, 2008.
Any single-family, principal residence (including condo's) are eligible.
Reduces income tax liability for the year purchased.
Income limit of $75,000 single and $150,000 on a joint return.
Purchaser (and spouse) may not have owned a principal residence in the previous 3 years.
6.67% of credit ($500) to be repaid each year for 15 years.
Terminates July 1st, 2009.

I look forward to hearing from you!

Lisa Murray

Just back from Star Power!

Lisa Murray (RE/MAX Sun Properties) — Sun, 10 Aug 2008 16:08:51 -0500

Hello All!

Well, I've just returned from an exciting week in Orlando, Florida at the Howard Brinton annual Star Power Conference! The photo is of me and Howard. So, as you can imagine, my head is spinning with lot's of great new ideas to benefit both Sellers and Buyers. How incredible it is to network with the top 1% in the industry! Of course, I'm already signed up to attend next year in Denver.

Since blogging has been on 'my list' for some time now, I've decided to finally get going. So, this being my first blog, I would like to open it up to any questions about the Fountain Hills real estate market that you might have for me. So, fire away! If I don't have the answer, I have some tremendous resources in which to find it.

I also would like to mention that I will be working toward a new real estate designation - Certified Distressed Property Expert (CDPE). With the state of the market as it is, I felt it prudent to arm myself with as much information as possible so that I can better assist those who may be facing a potential Short Sale or foreclosure. I want to make a tough situation a bit smoother, easier and hopefully FASTER! Class begins August 19th.

I look forward to hearing from you!

Lisa...