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85050 : Real Estate Advice

  • All14
  • Local Info1
  • Home Buying10
  • Home Selling0
  • Market Conditions0

Activity 12
Mon Dec 28, 2015
Jeri Patrick answered:
I would call a local real estate agent to help you with your home search. best of luck
0 votes 1 answer Share Flag
Mon Aug 11, 2014
Donna Stevens answered:
I'd love to help you out. Feel free to contact me through my Trulia profile.
0 votes 13 answers Share Flag
Fri Apr 4, 2014
Lisa Markham answered:
AZ is NOT a HOA super lien state with regards to a 1st mortgage. However, a HOA lien does supersede a 2nd mortgage.
I know this from experience as I managed a trustee department for over 4 years.

Please call me with any questions or concerns.

Lisa Markham
Envoy Mortgage, Ltd.
NMLS# 947738 / AZ# 0921717
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1 vote 4 answers Share Flag
Sun Jul 21, 2013
Rose Mullins answered:
My rental listings usually rent in less than 1 week. It always pays to use a REALTOR for your listing. You will gain maximum exposure on all available web-sites and search engines, including the MLS (multiple Listing service). in addition, you gain the expertise and knowledge of a professional that will get you top dollar in the market, and make sure all proper disclosures and fair housing regulations are covered. I would be happy to discuss this with you further at no obligation. Please feel free to call me at your earliest convenience.

Rose Mullins, Associate Broker
Platinum Premier Realty
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0 votes 9 answers Share Flag
Sun Jul 14, 2013
Mario Micheli answered:
It is import that you have an advocate for your offer. Sellers ofter see FHA buyers as less likely to close. I have had offers accepted that were not the highest offer by selling my ability to close a deal to the listing agent (I have twenty-plus years of experience in a previous career as a transactional real estate lawyer and as a title insurance attorney) and explaining my buyer's seriousness and ability to survive the hiccups that can occur between loan pre-qualification, opening escrow and closing a new purchase transaction.

Please do not hesitate to contact me with any questions.

Mario Micheli
Nextage Realty Professionals
LinkedIn Profile:
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0 votes 6 answers Share Flag
Sun Jul 14, 2013
Mario Micheli answered:
Whatever you do, do not go unrepresented. Bring a REALTOR with you when you first register with a community. I have twenty-plus years of experience in my past career as a transactional real estate attorney and title insurance attorney. I live and work in Desert Ridge and would love to work with you.

Mario Micheli
Nextage Realty Professionals
LinkedIn Profile:
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0 votes 5 answers Share Flag
Sun Nov 14, 2010
Dagmar Mouritsen answered:
223k was the original sales price when it was bought from the builder in 2007. However, that says very little about the current value. Homes with sf between 2750 and 3250 sf in the Homestead subdivision, sold for an average of $48.30 per sf in the past 6 months. Add the pool to that an you come out at around 155k. That's just an estimate but it indicates that the listing price is quite high compared to other properties in the community. There may be other factors that would justify a higher price like a huge lot, upgrades etc. Let me know if you would like to receive more detailed information about this and other Maricopa properties. As a Maricopa Realtor and resident I know the local real estate market.
Dagmar Mouritsen
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0 votes 2 answers Share Flag
Thu Jun 24, 2010 answered:
We entered a contract for a new "spec" home in a Desert Ridge community in March 2010 about 6 weeks before its completion and moved in end of April 2010. It was professionally designed and included every upgrade except wood floors-- it has tumbled travertine showers with glass doors, a spiral staircase, granite, 18" tile floors, show piece soaking tub, HUGE corner lot with no neighbors behind us, etc. for $485k in April 2010. Our neighbor across the street just bought the EXACT same model (on a smaller, not corner lot) for $522k and the house next to us, a slightly larger model, just closed for $541k. So as for houses "plummeting" in Desert Ridge, I don't know where. Maybe the houses whose buyer's needed a tax credit to afford the home are plummeting, but I'm not seeing it in our community. People are spending over a half million on homes and then adding $50-$100k worth of pools, turf, outdoor fireplaces, BBQ's, etc. with cash; the builder doesn't let you include pools in the purchase price of the home so you aren't "upside down" on Day 1. We just broke ground on our pool this week and feel fine that we won't be upside down. So either I'm just a more positive person not wanting to jump on the "doom and gloom" train or the answer to your question is-- it depends which community and how good of a deal you can negotiate on a new home.

If you're buying a house for lifestyle, don't worry if the value moves up and down every month-- just buy what you like and what suits you. We own two other houses in Scottsdale and Tempe that we are underwater on and it's not the end of the world.... Houses are meant to lived in and create memories -- People who are trying to time the market perfectly to maximize their investment return should switch to day-trading in the stock market!! :)

P.S. We also looked in Aviano and at the time we were looking (March/April 2010) there were almost no houses left in Aviano that weren't under contract-- our realtor felt bad their nothing left to show us! We satyed away from short sales though, as we learned our lesson after trying to purchase a home in DC Ranch and another house in Scottsdale where we put in the highest offer and still didn't get it. That's why going with a new house was a much better option-- we could control the outcome. But if you have patience and no timelines, a short-sale resale may be for you! Good luck!
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0 votes 14 answers Share Flag
Sun May 24, 2009
Robert G Hertzog Jr answered:
Something "fishy" may definitely be going on here. Just last week, the same thing happened to an acquaintance. They had offered $300,000 on a home that was priced at $299,000, as they were told there were multiple offers. The bank countered back with a price of $259,000 (this was their NET bottom line price, after paying 5% commission. When the Buyer met with his loan officer, he asked him, "Where is the rest of the money going"? In this case, the commission paid was 5% of 301,000, or around $15,000. When added back to the $259,000, they had a total of $274,000. Where was the extra $27,000 going, you may ask? Come to find out, the Listing Agent had hired an third-party negotiator to act on behalf of her sellers. The "plan" was for the third party to get the $27,000. But, oops! Both the Listing Agent and Buyers Agent work for the same brokerage (name intentionally omitted). They "forgot" to tell the Buyer that this "negotiator" was being paid as part of the transaction as well. The Buyer immediately threatened to contact the AZ Dept of Real Estate, and the negotiator magically went away.

Folks, these "negotiator scams" are going on everyday here in Phoenix. As a Buyer, you need to rely on the experience and expertise of a REALTOR who works in the Short Sale/Foreclosure market exclusively, not a fly-by-night, third-party "negotiator". Preferably, a CDPE (Certified Distressed Property Expert).

For more information on how the Short Sale/Foreclosure market works, visit . Our office consists of 2 Real Estate Brokers who are both CDPE's. We deal exclusively with helping Buyers and Sellers with Distressed Properties, and we don't try to scam our clients by hiring someone else to do our work for us.

Bob Hertzog
Summit Home Consultants
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0 votes 8 answers Share Flag
Sat Jan 24, 2009
Carlos Ramirez answered:

I assume you are referring only to assistance regarding the loan process, and not finding the properties, negotiating the deals, which is the job a Realtor.

Each one has its advantages and disadvantages. With a mortgage broker you will be leveraging from his expertise and thru him you can reach many banks in a short period of time - potentiall finding a better deal that what you could have found going to several banks by yourself. You will potentially get a great deal, but you will be, of course, paying him a premium for his services. If you are not too experienced and do not have many contacts, this might be a good option.

With a financial bank officer you will only have access to his services and products, and to get the best deals you might have to do comparison shopping on many of them. A time consuming and confusing task if you are not too experienced in the area. But, if you are experienced and have the contacts it might be a good option for you.

When you start working with a Realtor he should be able to reccommend you one or more proven mortgage brokers and/or give you options of good bank officers.

Good luck!
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0 votes 8 answers Share Flag
Sat Jan 17, 2009
Carlos Ramirez answered:

If the nobody is able to locate the owner there is nothing that can be done to buy it as a short sale. Until it is foreclosed it still belongs to him and he needs to sign the documents. I also assume that he has vacated the property. It is very possible that he just quit trying and left the property. Without more information it is impossible to really determine what happened and what are your options. Your agent should be able to find out and give you more information.

In any case, even if the owner was still around, the chances of any short sale closing are very low - even if you think you placed a good offer. At the end the bank might want more money (even more than the asking price), the owners might get a higher offer (if the property is still active and they are collecting offers), the bank(s) might not approve it all (because there is no hardship or for some other reason) and/or if there is more than one lien holder they might not agree on how much will go to the second (or third) lien holder.

If you really want that property an agent should be able to track it and notify you as soon as it becomes available as a foreclosed property. At that time the listing price will be approved by the bank.

Good luck!
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1 vote 6 answers Share Flag
Sat Oct 4, 2008
Dan Harris answered:
You should be proactive and get your situation under control. Your lender will work with you to mitigate their loss.

Homeowners can negotiate their own Loan Modification, there is no need to spend thousands of dollars on a third party.

There is a Great Book & CD Kit available to help distressed borrowers through the Loan Modification process. It is a Complete Step-by-Step Guide to the Loan Modification negotiation. The Kit cost less than $100..

It is available at:
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0 votes 6 answers Share Flag
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