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Home Buying in Phoenix : Real Estate Advice

  • All2K
  • Local Info160
  • Home Buying942
  • Home Selling108
  • Market Conditions70

Activity 1,022
Mon Nov 6, 2017
Karen Peyton answered:
As an Associate Broker in Phoenix, I can tell you the Seller Property Disclosure Statement works just as @Alan wrote. A yes or no response marked by the Seller is simply "their knowledge" of the property and not a testimony to the existence or nonexistence of what the question may be pertaining. Also, if using the Arizona Association of Realtors contract, Buyers are afforded a 10-Day Inspection Period to investigate anything and everything they want to know about the property. Asbestos is an issue falling within various years of construction, not relegated at all to what the Sellers may or may not know. ... more
0 votes 3 answers Share Flag
Mon Nov 6, 2017
Karen Peyton answered:
I suggest relying on your agent's opinion. If the price is truly firm, I'm thinking the house will not appraise as the value of others in move-in ready condition are 5 to 10,000 less. But I think the real question is whether or not you want to invest both time and money in a house requiring major repair.? As the house seems fairly uninhabitable, you'll have to pay the mortgage and for the place I'll assume you are renting now.
Unless this house is hands down "the one," and if it were me as a buyer - I would "pass."
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0 votes 2 answers Share Flag
Thu Oct 19, 2017
Debrah Colter answered:
Hi trying to get a rent to own home at a good price around 900 call me 6332051544
0 votes 15 answers Share Flag
Thu Oct 12, 2017
Kathy Burgreen answered:
Your contract should have a clause that states under what conditions you can cancel. Are you working with your own realtor or is this a For Sale By Owner listing?

Since you have not given a deposit yet - don't. It should be easier to cancel considering this just happened. You need to notify the realtor immediately. Most likely if a realtor is involved, the Office Manager or Broker in Charge will need to sign an official document releasing you. The seller will also need to cancel the contract. ... more
0 votes 1 answer Share Flag
Tue Sep 26, 2017
Karen Peyton answered:
The fact you are seeing mobile and manufactured homes on this site when looking for condos, has to do with this site. Trulia takes information from MLS's throughout the country and squishes those formats into their template.
Trust me, NO agent will lose their MLS privileges by practicing slight of hand and misrepresenting properties!
If you want a customized search with only the houses that meet your personal criteria, contact an agent.
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0 votes 1 answer Share Flag
Tue Sep 26, 2017
Lmelendez answered:
How long do you have to be in a Job, to do the rent to own.
0 votes 17 answers Share Flag
Fri Sep 15, 2017
Karen Peyton answered:
Contact your lender for an estimate of closing costs. With a 4% concession, my guess is you won't have any...BUT...I don't know what your (individual) costs may be.

Good luck!
0 votes 1 answer Share Flag
Fri Sep 15, 2017
Karen Peyton answered:
Not knowing the home builder and seeing the agreement you've signed, I don't have an answer for you - but will agree you have an excellent question.

If you're working with an agent, your agent should be asking for an explanation and documentation supporting the answer given.

If you don't have an agent, you'll have to ask and put the pieces together yourself. Actually, you should hire an attorney to put the pieces together (fact check) to put your mind at ease.

I can think of many reasons for a name change, but none of them are good.
Contact an attorney for advice.
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0 votes 1 answer Share Flag
Wed Sep 6, 2017
Karen Peyton answered:
How did you acquire the property?

Home sales in Arizona are "As-Is" as of February 2017, and the Arizona Residential Real Estate Purchase Contract contains verbiage that all Buyers receive a 10-Day Inspection Period to "inspect" for any and all matters of importance - with an opportunity to cancel the agreement.

If you had the opportunity to inspect and didn't see the tires, and/or chose not to do a property survey - it may difficult to sue. Of course it is possible to waive the inspection period as part of the negotiation process which would again make it difficult to sue.

But...I am not an attorney and therefore suggest you contact an attorney who can look over your contract and make a determination of the best way to proceed.
... more
0 votes 1 answer Share Flag
Tue Aug 29, 2017
Tracey Lawrence answered:
Don't do it!!!!
I inherited a property from my Dad in the Jensen Community in Murrells Inlet (Myrtle Beach) SC. I renovated the home and despite being repriced 4xs by realtors, it is sitting. I'll tell you why.
1) As buyers get more sophisticated and internet savvy, they appreciate manuf homes on leased lands, esp when there is a significant lease/HOA payment are BAD DEALS. No one wants them.
2) Mortgages are expensive and there is limited availability. 3) There is no liquidity so if you need to access your equity--good luck. No one offers home equity loans or reverse mtgs on leased land. If you are a senior who wants to use equity to age in place...NOT GOING TO HAPPEN.
3) DOM will be significantly longer than regular properties. SIGNIFICANTLY.
4) Home appreciation will be significantly less than regular properties, esp over time.
5) Since all your buyers will need to be approved by the lease company, all-cash buyers can be turned down by the lease company and you won't be able to sell your home. This has happened twice to my neighbors who have their homes on the market for more than a year.
6) Realtors do not want to sell these things. As one told me, she can sell a beach house worth 5xs as much for the amount of time it takes to find a buyer and get them approved at Jensens. DON'T DO IT!
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0 votes 13 answers Share Flag
Wed Aug 23, 2017
connoranne answered:
i had a hard time getting anyone to approve me with a 520 i honestly was so frustrated because i was holding my husband and i both up from getting a house because of my messed up credit. i googled was to help my credit in a short time to get a house and this company called Select Us LLC had came up. i called them and they where so helpful and always answered all my question they got me in A HOME OF MY OWN IN 5 MONTHS!!!!! THEY ARE AWESOME. ... more
1 vote 4 answers Share Flag
Tue Aug 22, 2017
Jamesthomas0605 answered:
My wife got approved for a house, so we moved out of our apartment and now they are trying to say that she is not approved until they see my information is this okay???
0 votes 12 answers Share Flag
Mon Aug 21, 2017
Karen Peyton answered:
There really aren't any hard and fast equations to determine value which is the reason agents use comparable data - offsetting features, considering both intrinsic and extrinsic value.

As a home-buyer working (it would seem) without an agent, you'll have to ask yourself what the house is worth to you, and make your best offer.
... more
0 votes 1 answer Share Flag
Mon Aug 21, 2017
Karen Peyton answered:
It's been roughly two months since you've asked your question. If you don't have a CMA yet, or your home on the market - contact me.

Karen Peyton, Associate Broker
Arbor Realty
480-688-2548 ... more
0 votes 1 answer Share Flag
Thu Aug 3, 2017
Melissa Hines-harris answered:
I try to due a short sell but my mortgage company had previous illegally foreclosed on me after the courts sent me a short sale letter but set them a denial letter to stop the sale however I filed to show just cause to the judge the courts and the bank the judge order to re send the home back to but I found out that in 2013 they never honored the judges order and we had to stop the sale and my foreclosure dates is days away how do I proceed to fight them ... more
0 votes 11 answers Share Flag
Sat Jul 15, 2017
carterfrancis answered:
I live in Central Phoenix and it is one giant flood zone. Be very careful - real estate agents are hit or miss here. Our agent, who resides in in the area, did nothing to warn us of any flood danger. The first rain, a month after we moved in, destroyed our flooring and kitchen. Our neighborhood has 1 set of drains for the whole neighborhood. The city does take claims but having grant money available to fix these issues requires years of reporting and the whole neighborhood must participate.
During monsoon every year, our area floods at least 3 times. I regret moving her and I have lived in California and Oregon.
No money spent on infrastructure and poor planning.
... more
0 votes 7 answers Share Flag
Wed Jul 5, 2017
Louis6410 asked:
Tue Jun 20, 2017
Dspoiledmom answered:
We built our house in 1988 in the town of Buckeye, AZ there is an acre lot it is considered horse property, a couple of years ago the town was changed to the city of Buckeye, AZ and now all of a sudden we are getting a letter of non compliance for our parking, we have no HOA we have parked like this for (in Sept.) almost 30 years do we have to change this or are we grandfathered in? ... more
0 votes 7 answers Share Flag
Sat Jun 17, 2017
Kathy Burgreen answered:
You need to work with a realtor for features like this. Typically, realtors will not include such features in their listings.
0 votes 1 answer Share Flag
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