Teacher w/ FHA financing seeks aggressive, innovative agent with proven FHA expertise to help me compete/close deal in Scottsdale market. Suggestions?

Asked by GreatBooks Teacher, Scottsdale, AZ Sat Dec 1, 2012

A challenge: I am a teacher with FHA financing. I have been working with my current agent for 18 months and have been unsuccessful in closing a deal. I have unfortunately lost confidence in her, however, as I’ve realized that it takes a very special skill set to compete in this market with an FHA client. Therefore, I am seeking an agent who is undaunted by the challenge of closing a deal for someone like me in this very tough Scottsdale market. The agent I seek must be driven, relentless, optimistic, and innovative: someone who is willing to HUSTLE to aggressively unearth opportunities for me as an FHA buyer. Further, I am extroverted, motivated, and very direct, and need an agent with a similar style, who will thoroughly explain all options to me and provide me with timely updates. Agents without comprehensive knowledge of FHA programs, proven experience closing deals for FHA clients, and willingness to hustle need not respond. :)

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Teresa R. F…, Agent, Scottsdale, AZ
Sat Dec 1, 2012
I have experience and a track record of satisfied clients. I understand the need to be creative when it comes to FHA purchases. Please feel free to contact me directly at 480-620-5738 or tfahl@cox.net.

Take care,
1 vote
Carmelcourt…, Other Pro, Scottsdale, AZ
Thu Dec 6, 2012
I know it is very difficult to get in front of investors just grabbing up property to to buy to rent out down the line. Regular prospective homeowners are getting outbid for "Cash Deals" all the time.....I feel your pain, David Lattimer is my agent 480-797-2828, he could probably help you.
0 votes
Jeff Crane, Agent, Scottsdale, AZ
Mon Dec 3, 2012
How many offers have you put in? How old is your pre qualification? Hve you supplied your lender with all the necessary docs? Like Bill said, your problem could be with your lender. Any financing puts you on the bottom, but FHA is way down the list. That said, if you are determined to use FHA financing I can still help you get it through, but you have to be agressive as well and willing to make some concessions.
Talk is cheap, if you are really serious, have all your documents and are truly ready to buy in this market give me call and I will have you in a home with in 21 days of contract acceptance with FHA financing.

Jeff Crane
10601 N Hayden Rd Ste I-100
Scottsdale, AZ 85260
0 votes
BParker, CPA*, , Scottsdale, AZ
Sun Dec 2, 2012
Hi GreatBooks Teacher:

Does that mean you are an English teacher or History or...?

Why are you "a teacher with FHA financing"? Maybe its not your agent's fault (and, yes, 18 months is WAY too long), but your lender's. You don't even mention your lender, yet they can help you get what you so aggressively want.

If you are looking in Scottsdale for a condo, with FHA financing, don't blame your agent. There are only 15 FHA-approved condo complexes in all of Scottsdale, per the FHA website.

Has your lender talked with you about "Teacher-Next-Door" loans? USDA? Phoenix's "LIFT" program, wherein you get $15,000 for downpayment, etc., putting you into a conventional pool of buyers with an un-natural advantage over people like you...Granted, where you are looking can play a big role in what you can get, but you have suffered enough.

Now, I hope you are just as aggressive in showing your appreciation to the lender and agent whom get to work with you, and get you into your home in a reasonable time period and with no un-due stress, possibly in the form of follow-up referrals, and accepting the price of working with professionals--see bottom of signature below. :)

Bill Parker, Loan Officer
AZ Lic# 09011570
NMLS #223607
CPA--Licensed, no longer practicing

GenCor Mortgage Inc.
15730 N. 83rd Way, Suite 103
Scottsdale, AZ 85260
(O) 480-525-8496; (M) 602-565-3646; (F) TBD
EM: BParker@GenCorMortgage.com
Website: http://www.GenCorMortgage.com
LinkedIn: http://www.linkedin.com/in/billparkercpa

MISSION STATEMENT: To create an unbelievably enjoyable experience for my clients, while guiding them through the most important financial transactions of their personal lives. My clients know me as their Mortgage Lender for Life. I truly appreciate your referrals.

If you think it's expensive to hire a professional to do the job, wait until you hire an amateur.
Red Adair, Oil well firefighter
0 votes
PS - As for being "just as aggressive" in showing my appreciation, no worries there! I am loyal (perhaps to a fault, as 18+ months with my agent will attest), and, once I find a person in any field that I think is at the top of his/her game, I will refer all the day long. (I'm a natural salesman! lol) Plus, I love to connect people when it will benefit both parties. So, even though I'm shopping on a teacher's salary, and my agent & lender will have to work much harder to get me an FHA deal (in proportion to, perhaps, a conventional or cash deal), what's in it for them is a vocal and well-connected advocate who will refer other business to them for the foreseeable future. :)
Flag Sun Dec 2, 2012
Hi, Bill - I really appreciate your answer! Already you are standing out by bringing to the table programs I did not know about, and things I had not thought about. A few months ago, I switched to another lender (the one I am currently with), and I am very happy with his level of "hustle" (he's on top of things!!) and with his patient and thorough explanations to me. (For an English/philosophy teacher, doing business is a learning curve. lol) However, I do understand that I need to shop around for the best deal. . .

I will gather more answers and perhaps give you a call. Thanks so much!
Flag Sun Dec 2, 2012
Howard Rudin, Agent, Scottsdale, AZ
Sun Dec 2, 2012
I am going to be direct with you here. If you are going to be successful you have to consider a few things: 1) some agents just won't even entertain FHA deals whatsoever (that is hurting you) 2) for those that will take an FHA loan you will need to be very aggressive with your offer and be the top bidder - many agents are holding offers on properties until they get 3 or more so they maximize the price for their seller 3) Switching to a 5% down conventional loan will save you more money and create more equity for you up front. ( the additional 1.5% down is typically worth doing because that is money in your pocket vs. the fees FHA is charging you these days) 4) FHA is going to raise their fees even more sometime in 2013.

I have a lot of experience in dealing with both FHA and Conventional buyers. I am a full-time agent living and working the Scottsdale Market. I would love to spend some time further discussing how I might be your agent and also would love to have my lender discuss your situation as well. We could set up a joint meeting in person at Starbucks, one of our offices or another location of your choice to get to meet you and then you could decide for yourself if you would like to work with me and my team of professionals taking you from looking to owning.

There are lots of great agents out there. Pick one that you like, will work very hard for you, has experience and will fight the fight to get you what you want. All the best to you. Hope to hear from you soon.

Howard Rudin
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Sat Dec 1, 2012
You are certainly aggressively recruiting an agent! I just responded to your post on Zillow.com. I am sure that you will find a great agent to help you. You can check my Trulia profile to see extensive recommendations about the quality of my work.
0 votes
Lucinda Tkach, Agent, Scottsdale, AZ
Sat Dec 1, 2012

To provide an overview I have had success with mutliple FHA closing.. Some of the stress in this market is that our inventory is low with that in consideration we need to offer agressively to close on a home.

Feel free to contact me for an interview.

I personaly can provide multiple referrals and many great resources.

Lucinda (Cindy) Tkach


Email phoenixrealtorservice@gmail.com

0 votes
Jonelle Abbo…, Agent, Scottsdale, AZ
Sat Dec 1, 2012
If I had a dollar for all the times I hear the same complaint. I would like to have 15 minutes of your time to show you my guaranteed buyer system. My team and I will make your transition a smooth one. We believe in doing 80% of all the work up front, so the minute the"perfect" home comes on the market, you can be the first offer. By using my system, we have helped over 28 clients this year.
Please call me for an appointment.
Thank you, Jonelle Abbott
0 votes
Gene Hastings, Agent, Scottsdale, AZ
Sat Dec 1, 2012
Getting FHA deals accepted is not as hard as you might think! Having a clear and concise plan and following it has been a proven technique that I have used not only in this investor charged market, but any market.

I have been a Real Estate Broker for over 23 years and have a solid proven record doing just this. I have sold more then 40 homes this year and over 12% of them were FHA. Please feel free to contact me and I will be happy to show you how I can help you beat out even cash investors by putting my buyers system to work for you.

0 votes
Jeffrey Masi…, Agent, Scottsdale, AZ
Sat Dec 1, 2012
Dear Greatbooks:

Yes, cash buyers for the least expensive Scottsdale homes have and advantage over FHA buyers. The least expensive homes often need work which presents a problem for an FHA lender appraisal and gives the advantage to a cash buyer or conventional loan buyer.

I cannot make a guaranty that the next offer you make you will win out over a cash or conventional loan buyer. However, I can work with your lender and provide you with the least expensive homes. Also, if the home does need repair work that would not qualify for an FHA loan, we can explore the FHA 203k loan which allows you to purchase a home needing work. With prices increasing quickly, obtaining a FHA appraisal is often difficult. With only a 3.5% down payment the home has to appraise. With cash or a conventional loan the FHA appraisal is not a factor.

Also, have you heard about the new Five In One program for a $5,000 grant? This is offered for homes in Maricopa County and was announced in September for low and moderate income buyers. This could help you.

May I wish you the best and Merry Christmas.

Jeff Masich, Realtor, GRI, MBA
HomeSmart Realty
0 votes
Wade Kawaha…, Agent, Phoenix, AZ
Sat Dec 1, 2012
As I'm sure you are aware, it is tough to compete against the cash and conventional offers. With everything else being equal, the cash gets preference, then conventional and then FHA. There are some things that I do to make any offer more attractive. It is not too hard to show you what is available to you but you have to move fast and be decisive. I am available to help you by sending you properties as soon as they appear on the market. I also can show you homes without much notice so you don't miss opportunities. In other words, I commit my services to you and all that I ask is the same commitment from my buyers. Please contact me if you would like my help.
0 votes
Shahla Mentha, Agent, Scottsdale, AZ
Sat Dec 1, 2012
Dear Teacher,

I have extensive FHA experience that have closed successfuly, and have also worked with teachers. If you would like to work with me, please feel free to contact me directly.
Best of luck,

Shahla Mentha, ABR, e-Pro, REALTOR®
Executive Real Estate Consultant
Coldwell Banker Residential Brokerage
Direct: 602-741-0755
O Fax: 480-483-4917
0 votes
Laura Myers…, Agent, Scottsdale, AZ
Sat Dec 1, 2012
Contact me for setting a time for a comprehensive consultation and we'll see if working together fits.
Laura Myers
AZ Real Estate Consultants
Keller Williams Arizona Realty
0 votes
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