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Stephanie Weiss Moves

Make a "Weiss" Move!

By Stephanie Weiss | Agent in Gilbert, AZ
  • Southeast Valley Active Listings Update Jan 2014

    Posted Under: Home Buying in Chandler, Home Selling in Chandler, Investment Properties in Chandler  |  January 27, 2014 2:21 PM  |  758 views  |  No comments

    Southeast Valley Active Listings Update Jan 2014

    Stephanie Weiss REALTOR®
    480.273.7472 cell/text
      602.733.5997 efax
    Stephanie Weiss Moves
    Search All Properties!
    Also a member of the White Mountain Association of Realtors!
  • The Bridges at Ocotillo, Chandler Az

    Posted Under: Home Buying in Chandler, Home Selling in Chandler, Investment Properties in Chandler  |  November 4, 2013 4:10 PM  |  1,093 views  |  No comments

    Bridges at Ocotillo Chandler AZ
    The Bridges at Ocotillo, exceptionally located on Queen Creek road, east of Alma School Road in Chandler, Arizona, is a gated 234 unit condominium community, townhome style with 2 and 3 bedrooms, some of which have attached two-car garages. These units range from 1,226 to 1,916 square feet and many have views of the canal like lake running throughout the complex. Condo’s are great investment opportunities with low maintenance, seasonal rental opportunities and a vacation getaway for the landlord and The Bridges at Ocotillo offers just that!

    Currently there are 3 active listings with prices as low as $198K (or $159 Per Square Foot) for a 2 bdrm, 2 bath! On average in the past 3 months, the price per square foot paid at The Bridges at Ocotillo has been $120 compared to 2009 when they were at $103. Properties are on the market an average of 50 days so if you’re thinking of making a “Weiss” move in The Bridges at Ocotillo, please give me a call.

    Here’s a breakdown of the current market activity: Bridges at Ocotillo Nov 2013

    Stephanie Weiss REALTOR®
    480.273.7472 cell/text
      602.733.5997 efax
    Stephanie Weiss Moves
    Stephanie's Blog
    Search All Properties!
    Also a member of the White Mountain Association of Realtors!

  • New Listing in Cooley Station, Gilbert Arizona

    Posted Under: Home Buying in Gilbert, Home Selling in Gilbert, Investment Properties in Gilbert  |  September 9, 2013 10:53 PM  |  1,125 views  |  No comments
    Cooley Station, Gilbert Arizona

    $246,000  Move in ready 2412 sq ft, 4 bedrooms, 2.5 baths home with formal living and dining room, eat in kitchen with an island and open to family room. No neighbor on east side of home. Professionally landscaped back yard with no maintenance. Great neighborhood with community parks, pool plus close to San Tan Village and 202. Traditional sale.


    Stephanie Weiss REALTOR®

    480.273.7472 cell/text
       602.733.5997 efax
    StephanieWeissMoves@gmail.com

    Stephanie's Blog
    Stephanie Weiss Moves

  • Legal Victory for Credit Agencies in Mortgage Ratings Suit

    Posted Under: Home Buying in Phoenix, Credit Score in Phoenix, Investment Properties in Phoenix  |  December 4, 2012 4:12 PM  |  630 views  |  3 comments

    Stephanie Weiss MovesA federal appeals court has ruled in favor of major credit agencies in a case that involves a lawsuit filed by five pension funds that sought to recoup millions of dollars in losses on risky mortgage debt.

    The pension fund groups, led by the Ohio Police & Fire Pension Fund, said they lost $457 million on 308 investments in mortgage debt between Jan. 1, 2005, and July 8, 2008, because they relied on 'triple-A' ratings that proved "unfounded and unjustified." The agencies in the suit — Moody's Investors Service, Standard & Poor's, and Fitch Ratings — have said their ratings were protected opinions under the First Amendment to the U.S. Constitution.

    The three-judge panel of the 6th U.S. Circuit Court of Appeals in Cincinnati unanimously ruled that the pension funds failed to show that the credit agencies should be held liable under state law, or for acting negligently in misrepresenting their ratings.

    Source: "Credit Agencies Win U.S. Legal Victory on Mortgage Ratings" Reuters (12/03/12)

    Stephanie Weiss REALTOR®
    ValleyWide Property Services
    2040 S Alma School Rd #1-449
    Chandler AZ 85286
    480.273.7472 cell 866.935.1151 fax

    Stephanie Weiss Moves

  • FHA OKs 2-Year Extension to ‘Anti-Flipping’ Waiver

    Posted Under: Home Buying in Chandler, Financing in Chandler, Investment Properties in Chandler  |  December 4, 2012 4:07 PM  |  498 views  |  No comments

    Stephanie Weiss MovesThe Federal Housing Administration is extending its 90-day “anti-flipping” waiver through 2014—which could bode well for single-family investors, rehabbers, and buyers seeking low down payment financing, Inman News reports.

    The waiver allows buyers to purchase homes that have already been sold in less than 90 days.

    The purpose of the two-year extension to the waiver is to increase “the availability of affordable homes for first-time and other purchasers, helping stabilize real estate prizes as well as neighborhoods and communities where foreclosure activity has been high,” says Carol J. Galante, acting FHA commissioner about the extension.

    In 2003, FHA issued an anti-flipping waiver to stop a high number of home flipping, which was being blamed on inflating home values. The FHA rule prevented FHA-backed loans from being used to purchase homes that had been owned by a seller for less than 90 days. In 2010, the U.S. Department of Housing and Urban Development decided to reconsider that 90-day limit when foreclosures started to cause blight in neighborhoods and put downward pressure on property values.

    The latest two-year extension to the waiver includes several requirements, such as the property can’t have a pattern of previous flips during the 12 months before the transaction. Also, if the property being resold is more than 20 percent higher than what the seller paid for it, the seller must produce documentation showing renovations and repairs made to justify the sales price. Inspections are required when price jumps are higher than 20 percent too.

    “This definitely benefits my investors, but it’s also good for communities” where there are high rates of abandoned, deteriorating foreclosures, Kevin Kim, an agent with Windermere Preferred Living in Brea, Calif., told Inman News.

    Source: “
    FHA Says Flip Away -- Within Limits,” Inman News (Dec. 3, 2012)


    Stephanie Weiss
    REALTOR®
    ValleyWide Property Services
    2040 S Alma School Rd #1-449
    Chandler AZ 85286
    480.273.7472 cell 866.935.1151 fax
    Stephanie Weiss Moves

  • Inventory of For-Sale Homes Falls 20% From Year Ago

    Posted Under: Market Conditions in Phoenix, Home Buying in Phoenix, Investment Properties in Phoenix  |  June 14, 2012 10:04 AM  |  380 views  |  No comments
    Stephanie Weiss Moves

    The number of homes on the market continues to become a shrinking pool. Inventory of for-sale single-family homes, condos, townhomes, and co-ops dropped 20 percent in May compared to year-ago levels, according to data from REALTOR.com of 146 markets.

    Inventories in May declined in all but two -- Philadelphia and Shreveport-Bossier City, La. -- of the 146 markets tracked by Realtor.com.

    While inventories were on the decline, the median national list price was on the rise, inching up 3.17 percent in May compared to May 2011.

    “These key indicators continue to suggest that the housing market is steadily moving along a path of stabilization and gradual recovery,” Realtor.com notes.

    12 Markets Where Inventories Have Dropped the Most

    California metro areas are seeing some of the largest drops in inventories of for-sale homes.

    From May 2011 to May of this year, the following metro areas have posted the highest drops in the country with their housing inventories, with inventories falling 35 percent or more in the last year. Those metros are:

    1. Oakland, Calif.: -56.60%
    2. Fresno, Calif.: -48.76%
    3. Bakersfield, Calif.: -48.59%
    4. Phoenix-Mesa, Ariz.: -44.71%
    5. Seattle-Bellevue-Everett, Wash.: -42.65%
    6. San Jose, Calif.: -40.80%
    7. Tampa-St. Petersburg-Clearwater, Fla.: --39.76%
    8. Stockton-Lodi, Calif.: -39.25%
    9. Atlanta: -39.19%
    10. San Francisco: -38.90%
    11. Riverside-San Bernardino, Calif.: -37.43%
    12. Sacramento: -35.92%

    By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

 
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