About Me
Call me at (480) 215-9490 to discuss how I can best assist you in your real estate needs.
I thoroughly enjoy helping clients meet their real estate goals, and I work hard to create and maintain my Client for Life philosophy. The first step in this process, is in developing a foundation of trust. I don't inflate listing prices to secure a listing, and I don't promise to find that $200,000 property in North Scottsdale that doesn't exist. Instead, I'm honest, open, and direct with my clients. I listen to my client's needs, and then advise them on the best course of action.
When working with buyers, I scour the market to find properties that match their list of wants and hopes. And my services don't end once the new property has been identified. My team will support you in managing your mortgage, escrow, inspection needs. And if this is an investment property, we can help with tenant acquisition and property management.
When working with sellers, I market your home aggressively, to attract the maximum number of buyers. Open House, the 10K Home program, Home Tours, newspaper and magazine advertising, aerial photography, internet listings, etc. are all part of my program to bring more buyers to your front door.
I work full time as a professional real estate agent, so call or send me an email today, to put my expert skills to work for you.
I thoroughly enjoy helping clients meet their real estate goals, and I work hard to create and maintain my Client for Life philosophy. The first step in this process, is in developing a foundation of trust. I don't inflate listing prices to secure a listing, and I don't promise to find that $200,000 property in North Scottsdale that doesn't exist. Instead, I'm honest, open, and direct with my clients. I listen to my client's needs, and then advise them on the best course of action.
When working with buyers, I scour the market to find properties that match their list of wants and hopes. And my services don't end once the new property has been identified. My team will support you in managing your mortgage, escrow, inspection needs. And if this is an investment property, we can help with tenant acquisition and property management.
When working with sellers, I market your home aggressively, to attract the maximum number of buyers. Open House, the 10K Home program, Home Tours, newspaper and magazine advertising, aerial photography, internet listings, etc. are all part of my program to bring more buyers to your front door.
I work full time as a professional real estate agent, so call or send me an email today, to put my expert skills to work for you.
My Q&A
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Steve Belt's Questions (4)
Steve Belt's Answers (256)
Steve Belt answered:
Current Fannie Mae/Freddie Mac underwriting guidelines are that you cannot have such a loan for 5 years from the discharge date. Those are the current guidelines, as revised somewhat recently. They may be revised again, or maybe that's what they will always be. A conventional, confirming loan is one that can be sold to either Fannie Mae or Freddie Mac.
Hard money lenders can do whatever they want. They aren't planning to sell to Fannie/Freddie.
Sellers offering seller carrybacks can do whatever they want. The seller is acting as the bank, and sets the terms that suit them.
Bottom line, while the most affordable loan programs may be closed to you for quite some time, there are alternative loan programs (with significantly higher loan costs) that will be available to you, nearly immediately.
Hard money lenders can do whatever they want. They aren't planning to sell to Fannie/Freddie.
Sellers offering seller carrybacks can do whatever they want. The seller is acting as the bank, and sets the terms that suit them.
Bottom line, while the most affordable loan programs may be closed to you for quite some time, there are alternative loan programs (with significantly higher loan costs) that will be available to you, nearly immediately.
Steve Belt answered:
Laura,
That's a great question, and one I've written about several times on my blog. Right now today, the average home in the Phoenix market sells for 98% of it's asking price. For a $100,000 asking price, the average home is going to sell for $98,000. Although, if you look at foreclosures, 33% of the time, the home is selling for above the asking price. Sometimes significantly above the asking price (more than 20%).
Is there a good rule of thumb? Not at a great one. If you want a home, particularly one you are going to live in, be prepared to start with your highest and best offer. The Phoenix real estate market recently did a massive about face, and is suddenly in a pretty strong seller's market. Prices are actually trending upward. Prices are still low, however, and will probably stay low for some time.
I think it's an optimistically exciting time to consider buying a home right now.
That's a great question, and one I've written about several times on my blog. Right now today, the average home in the Phoenix market sells for 98% of it's asking price. For a $100,000 asking price, the average home is going to sell for $98,000. Although, if you look at foreclosures, 33% of the time, the home is selling for above the asking price. Sometimes significantly above the asking price (more than 20%).
Is there a good rule of thumb? Not at a great one. If you want a home, particularly one you are going to live in, be prepared to start with your highest and best offer. The Phoenix real estate market recently did a massive about face, and is suddenly in a pretty strong seller's market. Prices are actually trending upward. Prices are still low, however, and will probably stay low for some time.
I think it's an optimistically exciting time to consider buying a home right now.
Steve Belt answered:
Hi Victoria-
Accurate data regarding the Phoenix area rental market is difficult to find. MLS has perhaps only half of the total homes for rent across the valley listed within it, at least until you get to the higher priced rentals. Craigslist has a higher percentage, however it's not a database, so it's difficult to know the status of what leased, for how much, and how long it took. Plus, there is a lot of duplication in craigslist.
All of that said, in my experience as a property manager/leasing agent over the last 5 years, the rental market right now is pretty good. Homes are renting for about their historic norms and when marketed properly are renting in around 30 days. Newer homes are still renting faster than older homes, when an area offers a choice. Condition matters greatly. Move-in ready condition being very, very important.
To get more specific with you, I'd need to know more about what type of investment you are thinking about. Feel free to contact me if you want to chat in more depth.
Accurate data regarding the Phoenix area rental market is difficult to find. MLS has perhaps only half of the total homes for rent across the valley listed within it, at least until you get to the higher priced rentals. Craigslist has a higher percentage, however it's not a database, so it's difficult to know the status of what leased, for how much, and how long it took. Plus, there is a lot of duplication in craigslist.
All of that said, in my experience as a property manager/leasing agent over the last 5 years, the rental market right now is pretty good. Homes are renting for about their historic norms and when marketed properly are renting in around 30 days. Newer homes are still renting faster than older homes, when an area offers a choice. Condition matters greatly. Move-in ready condition being very, very important.
To get more specific with you, I'd need to know more about what type of investment you are thinking about. Feel free to contact me if you want to chat in more depth.
Steve Belt answered:
For a multi-unit property, I would recommend you stay very close to the Camelback corridor.
Steve Belt answered:
If you can build out the den into a bedroom, and have the flooring look correct, the closet look like it was always there, and have it cost you less than $2k, you should do it in a heartbeat. 4 bedrooms always out sells 3 bedrooms and a den. For a buyer that is looking for 4 bedrooms, they want 4 real bedrooms. They don't want 3 bedrooms and a den. A home with 3 bedrooms and a den simply won't appear on that buyers list of homes to consider, if 4 bedrooms is a deal breaker for them.
On the other hand, a buyer that would take 3 (with a den) or 4 bedrooms may not place extra value on the den conversion, but they won't take value away either. Especially out in Gilbert, which is commonly referred to as a bedroom community.
Again, if you can do it at a minimal expense, and with quality, it's something I would encourage you to do.
All the best!
On the other hand, a buyer that would take 3 (with a den) or 4 bedrooms may not place extra value on the den conversion, but they won't take value away either. Especially out in Gilbert, which is commonly referred to as a bedroom community.
Again, if you can do it at a minimal expense, and with quality, it's something I would encourage you to do.
All the best!
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