Gina McKinley's Real Estate Blog

Government is Putting Pressure to Decrease Foreclosures in Mesa, AZ and Nationwide

Tue, 01 Dec 2009 20:46:23 -0600

With unemployment figures on the rise, the number of nation wide and Mesa AZ foreclosures is expected to keep rising over the coming months and the federal government is trying to do something about it.

The government is putting pressure to decrease foreclosures in Mesa, AZ and nationwide. President Obama created legislation in February that was expected to help those facing foreclosure across the nation and in Mesa AZ, yet the programs set in place are reported to have been enforced sluggishly by many of the lending institutions.

The pressure is starting this week. The Federal Government is saying "Help these people out!" to the 71 financing companies that are participating in the program. Teams of three people are being sent to monitor the eight largest companies, and these teams will be requested to submit reports twice a day on their progress. Another part of the problem has been incomplete paperwork on behalf of the borrowers.

Those that qualify for assistance need to complete their paperwork to move forward on getting assistance. Under the mortgage assistance plan borrowers who qualify can get 2% rates for up to five years, quite a healthy boost for homeowners facing foreclosure in Mesa AZ and around the country.

Gina McKinley, a Mesa AZ realtor, can help you buy a Mesa AZ foreclosure property. If you are interested in viewing foreclosures in Mesa AZ, please contact Gina McKinley at 480-355-8645 or by email.

Choose a Scottsdale AZ Realtor Like Gina McKinley to Sell Your Home

Sun, 29 Nov 2009 23:43:01 -0600

In today's competitive Scottsdale AZ real estate market it is important to pay attention to the details if you want to sell your house.

If you want to sell your house in Scottsdale AZ, consider choosing a Scottsdale AZ realtor like Gina McKinley who is experienced and knowledgeable about the Scottsdale AZ area, such as important details like what is selling and what people are paying.

A Custom Market Analysis (CMA) is essential for establishing fair market value for your home. Gina McKinley, a Scottsdale AZ real estate agent, will help price your home appropriately and competitively. If you choose to go it alone remember a few things: the current real estate market, pricing your home accordingly, the condition of your home, and the volume of buyers looking at Scottsdale AZ real estate in your area.

If you want your home to sell within a reasonable time frame, price it accordingly. If you want your home to sell quickly it must not only be priced right but be in better shape than other houses in the same price range. If you need to be on the higher end of the price spectrum, then your home needs to be in exceptional condition.

Remember, it is a competitive real estate market out there so every advantage you can get can make the difference.

Gina McKinley is there to help you will all your Scottsdale AZ real estate needs. To contact Gina McKinley for more real estate information, please call 480-355-8645 or email her.

Rent or Buy a Chandler AZ Home

Sat, 28 Nov 2009 15:16:52 -0600

A question that surfaces on most people's mind at some point is, whether to rent a Chandler AZ home or to buy a Chandler AZ home. The first thing that pops to mind is affordability but there are other factors, such as job stability, relocation possibilities and lifestyle.

If you intend on being in Chandler AZ for at least two or more years, your income is steady and purchasing a Chandler AZ home fits your lifestyle then it is time to break out a pen, paper and a calculator and see if buying makes more sense financially than renting.

At first glance buying a Chandler home makes more sense than renting in Chandler AZ because of the ability to gain equity in a home. While the past few years have shown this factor to be a bit shaky, the reality is that if you keep a property long enough, or get into the market at the right time, buying Chandler AZ real estate can be a worthy investment.

There is no sense making a two column list when it comes out to equating the cost of renting and buying. Renting is a fixed equation, the monthly number typically doesn't change. However to compute your costs for buying a home you look at the following variables:

Purchase Price
Down Payment Amount
Loan Amount
Loan Term
Interest Rate
Property Taxes
HOA Fees
Monthly Mortgage Payment
Home-owner's Insurance
Mortgage Insurance

Your monthly costs will include your mortgage payment, property taxes, insurance, and any HOA dues that may exist. If these numbers add up to an amount you can afford it could make sense for you to purchase a home instead of rent.

The important thing to remember is that once you buy a home in Chandler AZ you are not going to have a landlord to rely on to make repairs so factor in putting aside some extra money for a home repair and maintenance account.

Buying a home is an important decision and one which can add to future security and financial stability if done with great thought and evaluation. Gina McKinley, a Chandler AZ realtor, can help you decide if buying a Chandler AZ home is the right decision for you.

Gina McKinley also can help you with any Chandler AZ property management if renting a Chandler AZ property is more your speed. Gina McKinley can be reached at (480) 355-8645 or by email.

Overall Housing Market Slowly Improving in Phoenix Arizona

Fri, 27 Nov 2009 15:47:44 -0600

Real Estate data indicates that the overall housing market is slowly improving in Phoenix Arizona and nationwide since price declines are getting smaller and sales volume is getting larger.

October sales were up for pre-existing home sales by 23.5% compared with the same month last year. Homes sales for October nationwide were predicted to be 5.70 million, but the sales volume turned out to be 6.1 million.

Encouraging words are being spoken about real estate by NAR's chief economist who stated that, "Existing home sales have already bottomed. Home prices are almost there. We are seeing less of a decline in house values."

Approximately one third of home sales in October were made by first time home buyers taking advantage of the first time home buyer tax credit. The median home price fell 7.1%, still affected by distressed properties which accounted for 30% of October's home sales.

In addition, inventory of homes for sale has dropped slightly, indicating that the housing market is indeed recovering slowly. Tax incentives, low mortgage rates and decreasing home values continue to make their mark, helping real estate sales to increase.

The housing market's recovery will hopefully seep into the minds of consumers, giving a bit of peace and spurring on recovery in other real estate markets such as Phoenix AZ.

Gina McKinley, a Phoenix AZ real estate agent, can help you take advantage of this remarkable Arizona real estate buyers market by showing you Phoenix homes for sale or other Phoenix properties. To find out more about Phoenix new homes or to book a Phoenix AZ home for sale showing, please contact Gina McKinley at (480) 355-8645 or by email

Remodeling Your Mesa AZ House

Sat, 21 Nov 2009 13:45:06 -0600

Be careful what you spend these days when you are thinking about remodeling your Mesa AZ house. Home values are down and so are the recovered costs of remodeling.

It is best to take a look at the cost vs. value before taking on a remodel project. In 2005, at the peak of the real estate market nationwide, approximately 87% of the cost of a remodel would be recouped in the sale of a home. Today's real estate market is recovering approximately 64% of the remodel costs.

Everybody is watching their wallets, so if you are considering a remodel think carefully. While remodel costs are down it is important to remember that home values are down too. Unless you want to stay in your Mesa home for the duration of your mortgage, you cannot count on recovering costs of a major remodel.

However, some remodel options that are more cost effective than others in today's market. These projects include: roofing, siding, windows, and doors. Redoing or finishing a basement or attic is also recommended instead of adding an addition. These items are recommended because a seller will recoup a greater percentage of the cost when they sell their Mesa AZ home.

Gina McKinley can help you buy or sell a Mesa home. Gina McKinley, a Mesa real estate agent, can be reached at (480) 355-8645 or by email. Gina McKinley also maintains a AZ foreclosure website at www.azforeclosurereliefnow.com.

First Time Homebuyers in AZ Helping Economy

Tue, 17 Nov 2009 21:49:32 -0600

If you have been following real estate news and reports during the last year, it comes as no surprise that there hasn't been a better time to be a first time home buyer in years.

First time home buyers alone attributed to 46% of real estate transactions this year, compared to 41% of home sales for the prior year. Of course the fact that interest rates are hovering at historically low rates, and homes are less expensive than they have been in years, are huge factors to the prior statistic.

These conditions make home buying ideal, but the First Time Home Buyer Tax Credit has also added an incentive to make buying real estate in 2009 extremely enticing for the first time home buyer.

Overall, the first time home buyer is helping to stabilize the Chandler AZ real estate market and nationwide. According to NAR president Paul Bishop, "These buyers are critical to the housing and general economic recovery because the market always heals from the bottom up. New home buyers absorb inventory, free existing owners to make a trade to a new home, and stimulate related goods and services."

The First Time Home Buyer tax credit has recently been extended and expanded to include current home owners who have lived in their homes for at least five years as well. Clearly the current incentives have worked for the first time home buyer, and the inclusion of current home owners should help further stabilize the real estate market.

Gina McKinley is a Chandler real estate expert in the first time home buyer arena. Gina McKinley would be happy to show first time Chandler AZ home buyers what homes Chandler AZ real estate has to offer.

Gina McKinley can be reached at (480)355-8645 or by email.

Take Advantage of the AZ Buyer's Market Conditions

Sat, 14 Nov 2009 15:17:06 -0600

There has been a lot of talk about what caused the housing bubble to crash, but hopefully learning the reasons behind the real estate market downturn could help us avoid a future occurrences. As with anything in life, hindsight is always 20/20, but economists are blaming the housing bubble on a few factors.

One economist, Randal O'Toole, points out that the housing bubble crashes that have occurred across the country was actually more localized and in far fewer markets than the general population has been lead to believe.

According to O'Toole only 12 states have really been hit by the housing bubble burst. This particular economist attributes the the largest issues occurred in states with urban planning departments because they typically restricted further development which can create a volatile real estate market.

Of course, one of the largest reasons is the 0% down loans. The traditional 20% down on new houses purchases helped cover a borrower during typical market fluctuations and also kept borrowers from going belly up on their homes.

When the 0% loans were offered to future home buyers, a borrower had nothing to lose if they foreclosed on their new property. Fannie Mae and Freddie Mac further perpetuated the problem by purchasing loans with 10%, 5% and then 0% down. Other lending institutions then followed suit making the sub-prime loans run began to snowball.

Hopefully we can learn from our mistakes as a nation regardless of whether the real estate bubble burst has happened in 12 states or 50 states. Understanding how we got here will help us face the future, but ultimately now is the time to take advantage of the recently leveled out housing market.

The buyer's market conditions of today can be taken as a huge opportunity for many future Arizona home buyers. AZ homes on the market today due to AZ foreclosures can be a great place to begin your Arizona housing search.

Gina McKinley, an AZ real estate agent in the Phoenix AZ area, can help you find your Phoenix AZ home, Gilbert AZ home, Scottsdale AZ home, or Mesa AZ home today. Gina McKinley can be reached at (480) 355-8645 or by email.

Chandler AZ & Nationwide Real Estate Appears to be Stabilizing

Tue, 10 Nov 2009 16:55:35 -0600

A recent report shows real estate appears to be stabilizing across the country. The well known S&P/Case-Schiller index shows that in the 10 city index and in the 20 city index both showed a marked improvement in real estate in the majority of cities.

Although these are small improvements or minimal devaluation in home values, this news is still a welcome relief to many around the country and especially to Chandler AZ property owners. Home values are up anywhere from .1% to 3.4% in ten cities.

While the news is certainly not a staggering improvement, it is still encouraging because it indicates that real estate markets across the country are leveling out. Home values have stopped falling sharply and people are being drawn back into the real estate market.

To many, the recent market stimulation is due to low home values, low interest rates, and the First Time Home Buyer Tax Credit have all combined to create an ideal buyer's market, especially in the Chandler AZ real estate arena.

Gina McKinley, a Chandler AZ realtor, would be happy to show you your dream Chandler AZ property or tell you more about Chandler AZ homes. Gina McKinley can be reached at (480) 355-8645 or by email.

Milano Terrace Condo In Scottsdale For Sale

Tue, 10 Nov 2009 15:28:20 -0600

Gorgeous Apartment Style Condo! Kitchen Features Granite Countertops, Stainless Steel Appliances and Beautiful Updated Cabinets! Unbeatable Golf Course View From Deck & Living Room! Lots Of Storage! Great Location-Close To P.V. Mall & Restaurants... True Resort Living!

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/5122Shea2079.

Augusta Ranch Home In Mesa For Sale

Tue, 10 Nov 2009 12:13:27 -0600

Gorgeous Home In Lovely Augusta Ranch Golf Course Subdivision! This Esquisite Home Was A Former Model! This Home Features Custom Drapes, Decor Paint Throughout, Beautiful Rounding Staircase, Neutral Colored Carpet Throughout & Tile In All The Right Places! Spacious Kitchen Features Tiled Countertops, White Appliances & Breakfast Bar! This Home Has Too Many Extras To List! Don't Miss Out On Seeing This Beautiful Home!

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/9707Navarro.

Edge At Grayhawk Condo In Scottsdale For Sale

Mon, 09 Nov 2009 16:48:13 -0600

Gorgeous Apartment Style Condo! Marble Counters Throughout! Kitchen Features Upgraded Black Appliances! Fridge, Washer & Dryer Convey! Master Bathroom Features Garden Tub! Don't Let This Condo 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/20100N78thPlace.

First Time Home Buyer Tax Credit Approval Will Help Arizona Home Sales

Fri, 06 Nov 2009 14:00:28 -0600

This last Wednesday, the Senate has approved an extended and expanded tax credit for home buyers. The First Time Home Buyer Tax credit has been seen as a huge success in Arizona home sales and nationwide real estate. Its expiration on November 30 has had many in the AZ real estate industry feeling nervous about what its end would mean.

Those fears can now be put aside. While the bill still has to pass through the House, which it is expected to do next week, is was overwhelmingly approved by the Senate in a 98-0 vote.

What is new and improved with the extended and expanded tax credit? The new and improved tax credit is still for first time home buyers but will also include home buyers who haveowned their current home for 5 years or more. The credit is up to for $6,500 for these current homeowners and remains at up to $8,000 for First time home buyers or home buyerswho have not owned a home for the past three years. The tax credit is income restricted, as an individual cannot make more that $125,000 annually and a couple cannot make morethan $225,000 jointly.

A home must be a primary residence and valued at $800,000 or less. Buyers must have an Arizona property under contract to purchase by April 30, 2010,and the AZ property must close by June 30, 2010.

The passing of this extended, expanded tax credit is good news on the Arizona home sales front and is expected to be the last taxcredit offered for a long time to come.

Gina McKinley, a Arizona real estate agent, can help you find your perfect Chandler AZ home, Gilbert AZ home, Mesa AZ home, Scottsdale AZ home, or Phoenix AZ home to take advantage of the new and expanded tax credit for home buyers.. Gina McKinley can be reached at (480) 355-8645, by email, or on her Arizona real estate website.

Arizona Foreclosures Are Expected to Subside In Coming Year

Thu, 05 Nov 2009 16:51:09 -0600

Arizona foreclosures are expected to subside in the coming year. The latest data released by UFA L.L.C., a firm located in Ann Arbor Michigan that researches mortgage activity, states that foreclosures in Arizona and nationwide are expected to decrease in the next year.

After four years on the rise there is no doubt that it will be nice to see Arizona foreclosures start to subside. Improvements in the AZ and nation wide foreclosure arena are seen linked to tighter lending practices, home prices stabilizing, and an improving economy.

The one element working against foreclosures is the increasing unemployment which will leave some without the ability to make their Arizona mortgage payments. The onslaught of no-doc loans and inflated home prices led to four years of increasing foreclosures in Arizona and around the country.

The decline of Arizona real estate values is largely attributed to an elevated rate of Arizona foreclosures. A decrease in Arizona foreclosures will be a welcome sign for the Arizona real estate market in the coming future.

Gina McKinley, a Arizona real estate agent, can help you find Arizona foreclosed properties to buy. Gina McKinley can be reached at (480) 355-8645 or on her Arizona real estate website.

Maricopa Meadows Home In Maricopa For Sale

Wed, 04 Nov 2009 13:06:40 -0600

This Is Not A Short Sale Or An REO! This Gorgeous Home Features Neutral Colored Carpet & Tile, 9+ and Vaulted Ceilings With Ceiling Fans Throughout! Granite Countertops In Kitchen Along With Stainless Steel Appliances Make This Home Even More Desirable! Decor Paint Throughout! Back Yard Features Built In BBQ, Play Pool With Rock Fountain Accent and Desert Landscaping! This Home Is A Must See!

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/45988MorningViewLane.

Internet Can Help Chandler AZ Rentals

Tue, 03 Nov 2009 18:37:11 -0600

Thanks to the Internet, becoming a Chandler AZ landlord can be easier than you think. Many people are holding on to their Chandler AZ real estate these days, some by choice, and others because they are waiting for a stronger market. Those that simply cannot sell their homes, offering their home as a Chandler AZ rental may be an option.

Essentially there are becoming more and more first time landlords, and this job can seem a bit daunting, especially if you don't live near your property. Sometimes collecting the rent every month can be easy, but many landlords have a more difficult time chasing down rent, making repairs, and having to constantly oversee their tenants and properties.

Thanks to a new Internet business, PayYourRent.com, renting your Chandler AZ home can be much easier. This website business helps Chandler AZ landlords collect rent, track repairs, help tenants set up the utilities, and more. Utilizing an Internet service like www.PayYourRent.com, can help communication between landlord and tenant and att the very least, this Internet business and other like it, can help Chandler AZ rentals achieve and keep rental success for both the Chandler AZ landlord and the Chandler AZ tenants.

Gina McKinley, a Chandler AZ real estate agent, can help you find your perfect Chandler AZ rental unit or list your Chandler rental home. Gina McKinley can be reached at (480) 355-8645 or on her Chandler AZ real estate website.

Islands Home In Gilbert For Sale

Tue, 03 Nov 2009 11:28:54 -0600

This Short Sale Won't Last Long! Beautiful Wood Floors, Neutral Colored Carpets and Decor Paint Make This Home Warm and Cozy! Carpet Is Only Six Months Old! Black Appliances In Kitchen. Vaulted Ceilings And Fireplace In Living Room! Master Bedroom Downstairs. Back Yard Features Covered Patio And Large Grass Area! Much More, Come Take A Look!

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/1231SeaFan.

Redwood Estates Home In Chandler For Sale

Mon, 02 Nov 2009 16:16:29 -0600

Come Take A Look At This Beautful Home! This Home Features A Desirable Split Floor Plan, Great Room And Vaulted Ceilings! Back Yard Features A Covered Patio! Both Master And Hall Bathrooms Have Dual Sinks! Much, Much More! Don't Miss Out On This Gorgeous Home!

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/3832Eucalyptus .

Phoenix AZ Real Estate Buyer's Market

Thu, 29 Oct 2009 17:28:23 -0500

The biggest question hovering around these days is, have we hit bottom? Whether this question be a general question regarding the recession or the real estate market, we have to ask - does it matter? Whether we hit bottom a couple of months ago or are going to hit it a couple of months from now, we can all agree that we have had better times, and better times are in our future. Whether we have hit bottom or not, there is no mistake that it is still one of the most excellent buyer's market of Phoenix AZ real estate.

That being said, if we haven't hit bottom then the bottom must be close. Wouldn't it be better to buy near the bottom than miss it entirely? Nationwide there are real estate markets that are on their way down, real estate markets that have stabilized and real estate markets that are on their way back up. Whether the market hit bottom a couple of months ago, is at the bottom now, or will hit the bottom in a couple of months, the top of the market is far away.

In Phoenix AZ it is a buyer's market out there. Whether you are looking for a Phoenix AZ primary residence or a Phoenix AZ second home, now is a great time to invest in Phoenix AZ real estate. Property values are lower than they have been in years, interest rates are still hovering at 30 year lows and some tax incentives make buying Phoenix AZ real estate today more affordable than it has been in years. For all we know the real estate market might be more affordable today than it will be for many years to come.

Gina McKinley, a Phoenix AZ real estate agent, can help you find your perfect Phoenix AZ property. Gina McKinley can be reached at 480-355-8645 or by email.

‘Spooktacular’ Halloween event held Oct. 30

Wed, 28 Oct 2009 20:22:20 -0500

All ghosts, goblins, ghouls, creatures, princesses, cartoon characters and superheroes are invited to Chandler's Halloween Spooktacular, a family-friendly, safe alternative to trick or treating.
The annual event is from 5:30 to 8:30 p.m. Fri., Oct. 30 at the downtown Chandler Library plaza, 125 E. Commonwealth Ave. In the event of inclement weather, the festivities will be held next door inside the Community Center.

Festivities include games, arts and crafts, costume contests, souvenir photos and a haunted house. Candy is provided at all activities, and there will be fun foods to eat.

Everyone is welcome to wear a costume and enter the costume contest and parade at 6:30 p.m. Contest categories are: Scariest, Best Group/Family, Best Superhero, Best Cartoon Character and Best Princess.

The cost to attend the Halloween Spooktacular, which is presented by the Chandler Recreation Division with support from the Chandler Lions Club, is $2 for attendees 15 years of age and younger.

A complete list of upcoming special events in Chandler is available online at www.chandleraz.gov/special-events or by calling the City's Special Event Hotline at 480-782-2735.

High September Real Estate Sales Nationwide, Scottsdale AZ

Wed, 28 Oct 2009 18:47:06 -0500

Statistics released on Friday show the highest number of real estate sales in two years. As expected, recent reports show the combination of low interest rates, dropping home values and the First Time Home Buyer Tax Credit are all seen as the biggest boosts toward the Scottsdale AZ real estate sales increase and nationwide.

The National Association of Realtors (NAR) released data that displayed a 9.4% increase in home sales for September 2009 which were the best statistics since July of 2007.

The positive signs in Scottsdale AZ real estate and nationwide is the increasing economy faith, as this seems to be another sign to many that we are slowly climbing our way out of the recession. The hope is that the First Time Home Buyer Tax Credit will be extended and possibly even expanded.

Overall, 31% of homes sold in September were first time home buyers, and 29% of the sales were distressed properties across the country. While Scottsdale AZ homes for sale and real estate across the nation remain at their most affordable values in recent years the hope is that the upward, positive trend will continue.

Gina McKinley is a Scottsdale AZ real estate agent that can help you take advantage of the First Time Home Buyer Tax Credit before it expires in November. Call Gina McKinley at 480-355-8645 or visit her website today to learn more about how she can show you the best Scottsdale AZ properties.

Anderson Springs Home In Chandler For Sale

Wed, 28 Oct 2009 17:38:03 -0500

This Wonderful Home Features Loads Of Upgrades & A Fabulous Yard! Features Include Large Gourmet Kitchen With Tiled Counters & Backsplash, Smooth Top Range, New B/I Microwave & Dishwasher, Breakfast Bar, Pantry & Fridge Conveys! Updated Lighting & Ceiling Fans, Interior Decor Paint, 2 Fireplaces, Tile Flooring, Neutral Carpet, Fresh Exterior Paint, 6 Panel Doors & Vaulted Ceilings. Resort Style Yard With Swim Up Table Pool & Waterfall, Granite Counter Serving Bar At B/I BBQ With Extended Covered Patio. Wired For Outdoor TV Entertainment. Convenient Freeway Access, Close To Restaurants & Shopping Too!

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/715Yucca.

New Short Sale Could Help Lower Foreclosure Rate

Sun, 25 Oct 2009 16:01:59 -0500

New incentives are in the works nationwide for promoting short sales in order to avoid more foreclosures than necessary. The plan is meant to prod lenders into allowing more short sales.

Currently short sales are frequently avoided by lenders because offers are seen as too far below the last appraised value of the property, even though the foreclosed upon sales price in the end may be even lower. The incentives that are being mulled over are expected to pass soon.

The plan is to give the lender $1,000 for allowing a short sale to occur and the buyer a $1,500 credit at closing. The plan is expected to be passed by the treasury as a way to keep properties selling. Short sales are seen as a way to help the home owners nationwide avoid a credit hit as well as to take a house off the lender's books before the house becomes officially a foreclosure.

The new incentives are supposed to help avoid a foreclosure rate increase.

Gina McKinley, a Phoenix real estate agent, can help you understand how to use this new incentive to your advantage when purchasing Phoenix AZ real estate. Gina McKinley can be reached at (480) 355-8645 or by email.

Investment Buying Tips for Today's Market in Chandler, Gilbert, & Queen Creek

Fri, 23 Oct 2009 13:37:34 -0500

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 where prices are headed, but specific market demand for rental real estate in this price segment, and even the local government's plans for the area where you're thinking of buying. How much needs to be spent to make the property rentalable, what is the area's vacancy rate.

Number two: Buy with a written plan - just like the large professional investors use, with an entry strategy and an exit strategy. How long are you going to hold onto the property, how much will it earn you during your period of holding?

And what's the endgame - a sale to another investor? 1031 Exchange into a larger property, two smaller properties,etc? Conversion to condos? Tear it down and build something that's closer to the underlying real estate's highest and best use? When it is written dowm you can analyze it better.

Number three: Calculate the actual costs of the property in advance - not just the bargain basement price, but how much you'll need to fix it and feed it - the management costs, rental commissions, vacancy costs, taxes, to name just a few.

Not know these things up front, will cause frustation, financial strain, and other surprises. And there are no good surprises in real estate. For information on buying investment property, and our property management information and rate, please call today at 480-355-8546 or visit me at http://www.locatearizonahomes.com/resources-landlords.asp

Guarantee Your Arizona Home Against Depreciation

Tue, 20 Oct 2009 14:27:15 -0500

It is possible to purchase insurance that will keep you from losing equity in your Arizona home. Arizona real estate has long been thought of as a great investment but in recent years has proved to be a bit more volatile. A company out of California has provided a solution to anyone who is uneasy about buying a new AZ home and potentially losing money in the investment. For 1% of the value of your Arizona home, you can purchase insurance that protects you in case your house depreciates.

Working Equity Inc., is essentially selling insurance that guarantees the value of your Arizona home later if you decide to sell. Of course, there are a few regulations. You must own your Arizona home for at least two years, and it must be your primary residence. Working Equity Inc. is selling peace of mind in an uncertain market, and that could be something that is worth 1% of your home value.

For more information on a unique guarantee for your Arizona home, click here, or call Gina McKinley, an Arizona realtor, for more information on Arizona home equity guarantees. Gina McKinley can be reached at (480) 355-8645 or by email.

Phoenix AZ Rent-to-Own Scenario

Fri, 16 Oct 2009 13:41:13 -0500

The rent-to-own scenario can work out for both the buyer and the seller in Phoenix AZ.

The Phoenix AZ real estate market has led to some creative financing techniques, one of which is a rent to own scenario. While rent-to-own has been around for a long time, today it is helping many nervous Phoenix AZ sellers get a deal done. In essence the rent-to-own scenario is seller financing. It is important to work the specifics out in a rent-to-own situation.

Items that need to be addressed are:

What percentage of the rent that goes toward the down payment?
Which party pays for major repairs to the home?
Which party takes care of the basic upkeep of the property?
What happens to the down payment money if the buyer changes his mind?

A typical Phoenix AZ rent-to-own scenario takes a portion of each month's rent to put toward a down payment on the Phoenix AZ home. As soon as the down payment money is collected, then the potential Phoenix AZ buyer can qualify for a mortgage. The seller then has to cover his bases so that he is not out any money if the buyer changes his mind. If planned accurately and followed through diligently the rent-to-own scenario can work out well for everyone.

Gina McKinley, a Phoenix AZ real estate agent, is familiar with the rent-to-own scenario in Arizona. Gina McKinley would be happy to answer any questions you may have or connect you with the appropriate Phoenix AZ real estate buyers or sellers. Gina McKinley can be contacted at (480) 355-8645 or by email.