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Home Buying in 85242 : Real Estate Advice

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  • Home Buying3
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Activity 3
Wed Mar 16, 2011
Jody Barnett answered:
Queen Creek has many nice homes but for more of a upscale area Gold Canyon or North Mesa has more of a upscale feeling and the homes are more semi/custom homes. Many of the Gold Canyon homes are in a gated community that used to sell and some still are a million plus but the hoa fee is high it is located in the golf community and then there is a community in North Mesa called Las Sendas with beautiful mountain and city views plus they are all on larger lots. When the building stopped in Queen Creek the roads slowed down but they are still working on them slowly. Please feel free to contact me with any questions. Gilbert has many beautiful homes as does Chandler ... more
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Tue Jan 19, 2010
Ron Hall answered:
That is a lot to consider: Aside from all the investment, tax, emotional, and expense considerations there may not be a choice depending on your financial situation. FHA, FNMA, & FHLMC all have very specific guidelines and requirements in order to finance an additional property. Here is exerts from HUD and the mortgagee letter that specifically address's this issue

MORTGAGEE LETTER 2008-25

It literally states

"Due to FHA’s concern that some homebuyers in these transactions may attempt to provide misleading information regarding the rental income of the property being vacated to qualify for the new mortgage, FHA is instituting underwriting guidance designed to assure that the homebuyer can make payments on the full debt service of both mortgages. "

Its a lot to consider I hope this helps.

Ron Hall
... more
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Thu Aug 6, 2009
Eve Bragg answered:
You should beware if this is a short sale, it depends on how much this property means to you and if there are more out there.. Any questions you can call or email me.. Hope you find your dream home... ... more
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