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Home Buying in Tempe : Real Estate Advice

  • All197
  • Local Info20
  • Home Buying50
  • Home Selling6
  • Market Conditions11

Activity 44
Sat Mar 11, 2017
Karen Peyton answered:
You do not find an underwriter. You find a lender. The lender takes care of the rest.
0 votes 7 answers Share Flag
Mon Feb 15, 2016
Sally Grenier answered:
Certainly! Your Realtor should be able to guide you through this process. The lender may want to see only your wife's name on the contract to buy, but you can then be added to the deed before closing. ... more
0 votes 1 answer Share Flag
Fri Aug 28, 2015
Mario Mendia asked:
Mon Jun 29, 2015
Tobi Hawley answered:
Who is your agent? If you don't have one you need one for many reasons... not just to run the rental comps for you, but there are things you need to know.. find out the data on the average days on the market it will take a furnished unit to rent vs. unfurnished, research the property for possible liens, issues etc, someone to run the background checks for the tenants, someone with E&O insurance who is licensed & bonded like a Realtor who will protect your interests. It's great you want to invest in Real Estate, just do it with a Realtor, protect yourself and make sure you know all the facts & data before jumping in. ... more
0 votes 8 answers Share Flag
Thu Jan 8, 2015
Calvin James answered:
There is a lot that will affect the price, just as it would be in a normal house or even a skyscraper! I think what you are asking about is how the rent to own will work. Usually the owner gets a large deposit from you and you make monthly rent payments with an added amount added each month to it for the payment towards owning the house. It can be a very good way to buy your first home! http://www.mwhomesales.com/model-homes/ ... more
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Sat Apr 12, 2014
James Wehner answered:
Unfortunately, you only get one chance.
0 votes 5 answers Share Flag
Mon Apr 7, 2014
Ron, Kristina Wilczek answered:
As mentioned above there are some pretty strong opinions in this area. I did nothing but lease purchases, lease options, and wrap around mortgages for the first 2 years I was a Realtor. It can be tricky. I have a whole bunch of specialized clauses for such transactions that help to protect you as the buyer. ... more
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Tue Jan 7, 2014
Bryan Horn answered:
The reason why HOA's or Condo complex management won't allow you to purchase it as a rental is because once there are more than 50% non-owner occupied units in the complex, a mortgage will be really hard to get.

this is because FHA, Fannie Mae/Freddie Mac (conventional) and Jumbo lenders see the complex as a risky investment once too many renters are inhabit the complex.
... more
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Sun Dec 29, 2013
Steffy Hristova answered:
I would encourage you to talk to an attorney as soon as possible. Is this your primary residence?
0 votes 2 answers Share Flag
Tue Aug 13, 2013
Jonathan Dalton answered:
Most likely less, aside from speculators and weekend warriors who think the market will keep soaring the way it has for some time to come.
0 votes 6 answers Share Flag
Mon Aug 12, 2013
hbcpl1 answered:
Everyone thank you for your replies.

It is hard to become a resident if one has not moved to the area yet. I will be a resident once I move as I will be there for Med School so that is well over 4 years, the first year is to settle in to the area, then school starts a year after my move. I wonder why people relocating do not qualify for their new residence.
Sad, I may not be able to afford a place now... I will have to think about loans. I did not want any extra overhead while attending Med School.

Again, thank you all for the feed back.
HB
... more
0 votes 9 answers Share Flag
Fri Dec 7, 2012
Grace Adewumi answered:
Do you have a particular area in mind? Please feel free to call or e-mail me and I can help you find a perfect place to rent.
Grace Adewumi
Realty One Group
602-769-0890
gracea@realtyoneaz.com
www.house2buyorsell.com
... more
0 votes 4 answers Share Flag
Thu Nov 29, 2012
Jennie Miller, Pllc answered:
I work with several lenders that can take a look at your situation. Please let me know if you want me to send you a list of their names and numbers.
0 votes 6 answers Share Flag
Mon Nov 5, 2012
Paul Parshley answered:
The Home in 5 program is open to all buyers with a combined income under $90,000. It offers 5% of the loan amount toward, down payment and closing costs on and FHA, VA or USDA loan. Call 480-820-7207 for more details.

Paul
... more
0 votes 5 answers Share Flag
Fri Sep 28, 2012
Stephanie Weiss answered:
Inventory is going down and pricing is going up. There are approximately 1800+ condos/townhomes available in the entire Phx metro area as of today. I would find you're agent in the next couple months so you're well on your way. Allow about 45 days for the closing too. Good luck! ... more
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Sun Aug 19, 2012
Jennie Miller, Pllc answered:
There are not a lot of homes on the market right now and inventory levels are low. There are a lot investors that have purchased homes, renovated them, and are now reselling them. The condition of homes on the market is certainly much better than it was a few years ago! ... more
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Sun Jul 15, 2012
Jennie Miller, Pllc answered:
Wow! This question has certainly generated a very heated debate. I would be happy to work with you and help you successfully negotiate a purchase contract on the home. I have extensive recommendations from my clients on my trulia profile and would be able to serve you as well as I have served others. ... more
0 votes 24 answers Share Flag
Thu Dec 22, 2011
Susan Lehmkuhl answered:
May 27th is a long ways off, so chances of getting an offer are pretty good if it's priced right. Hopefully you are working with a qualified, educated realtor who has experience in short sales.

If the house does go to Trustee Sale, it may be purchased by an investor who will then notify you that they are now the owner of the property. It could also become a bank owned asset or REO. If it does become a REO, the bank will send a realtor to your home to notify you that you no longer own the home and ask you to vacate. Depending upon who the servicer is you may be offered cash for keys to leave the house in broom swept condition.
Susan Lehmkuhl
Associate Broker
The KUHL Team
your Phoenix Real Estate Source at
Buy and Sell Smart Realty
Direct: 623-256-7270
Email: Susan@PhoenixRealEstateSource.com
... more
0 votes 4 answers Share Flag
Sun Jun 5, 2011
Suz A answered:
||||||| UPDATE: June 5, 2011

You'll find sometimes wide differences between the two when comparing home vs. townhome, particularly when it comes to HOA fees. Homeowners purchase their own insurance for the structure. But, if you share a roof with several other owners, it doesn't make sense for all of you to pay on separate policies to cover the same roof. That's why some associations charge more for dues than many associations for homeowners. Homes and condos can have the same amenities. There is a good deal of variety, so you might have to take extensive notes while shopping.

These days the more important question might be whether the HOA is sound financially. You can request information from the HOA to help assist you in making your decision. You can ask, too, how often fees have been raised. You might find, too, that newer neighborhoods that have had a lot of foreclosures have HOAs that have struggled.

If you're absent from home a good deal, a condo with fewer maintenance chores may make sense. Consider, however, this is a minor issue. Many homeowners have friends look after their homes or pay a neighbor to care for a pet and a few favorite plants while they are away. A third option is to offer a live-in, rent-free arrangement with someone who will look after things for a few months.

Hope that is helpful for you and all the additional eyes that will see this post.

Best,
SuZ
PML of Longmont
... more
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