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Scottsdale : Real Estate Advice

  • All649
  • Local Info35
  • Home Buying203
  • Home Selling24
  • Market Conditions31

Activity 354
Wed Nov 17, 2010
Laura Myers PLLC, CLHMS, GRI, answered:
Google BPO Training and you should be able to find it.
0 votes 4 answers Share Flag
Tue Nov 9, 2010
Judi Monday, CRS answered:
I work with a number of Canadian Buyers in Green Valley, AZ and one of the banks that I know will lend to Canadians ( at least they were 6 months ago) is Washington Federal--not sure if they have a branch in Phoenix.

Best of Luck To You!
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0 votes 21 answers Share Flag
Sun Nov 7, 2010
Paul Slaybaugh answered:
I read through the answers to your initial question, and the responses were largely spot on. At this point, however, with the question shifting from a general one to one very specific to your unique circumstances, I strongly recommend you eschew the opinions of the Realtors, mortgage lenders, etc on this site for proper legal advice from a Real Estate attorney. We all have opinions, but they won't be rooted in a comprehensive understanding of case law. Good luck. ... more
0 votes 11 answers Share Flag
Thu Dec 9, 2010
Randy Hooker answered:
Great question for your buyer's agent! What does s/he say?

In my experience, you could be looking at anywhere from 3-18 months to get final approval from the lender(s).

Also, you should be aware that over 50% of short sales NEVER get approved.

Best of luck!
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0 votes 18 answers Share Flag
Tue Nov 22, 2016
Laura Myers PLLC, CLHMS, GRI, answered:
Stranger things can happen. A second is not in first position and there wouldn't be proceeds to pay off the first. I'll be interested to here more experienced replies here. The second is typically not larger than the first so to be able to pay it off doesn't seem likely.
Laura Myers
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0 votes 20 answers Share Flag
Tue Jun 30, 2015
Michonne Hults answered:
Hi Walt. I live in the North Scottsdale area and I can set you up with auto-emails of all the active listings with your criteria. I would be happy to help you. Please feel free to give me a call.

Thanks and have a great day!

Michonne Hults
Realty One Group
8563 E. San Alberto Drive
Scottsdale, AZ 85258

Cell 480-248-5334

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0 votes 23 answers Share Flag
Thu May 7, 2015
Joseph Domino answered:

You have not mentioned your price range. There is a tremendous amount of variety in N. Scottsdale. Some of the areas I like include, Grayhawk, D.C. Ranch, Terravita, Bellasera and Desert Mountain (far north).

All are gated, secure, upscale with loads of amenities. All these communities have large "snowbird" populations. There is just so much to choose from today, at great prices, that you need to identify which amenities are most desirable for you and narrow down your search.

Let me know how I can help.
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0 votes 6 answers Share Flag
Fri Oct 29, 2010
Laura Myers PLLC, CLHMS, GRI, answered:
Hi there
There are covers you can walk on and a few pool companies that provide this. They would have to confirm the maintenance component.I can give you my pool guys number if interested.
If you won't use a pool though why pay for it?
Laura Myers
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0 votes 6 answers Share Flag
Sat Sep 13, 2014
Laura Myers PLLC, CLHMS, GRI, answered:
Based on appraisal yes. How much higher depends on the market. For an investor its higher carrying cost so no pool is ok if it fits your needs. Pool or no pool there will always be a buyer for your home. Just make the home you choose ... more
0 votes 32 answers Share Flag
Thu Oct 28, 2010
Home values vary due to many factors.

1. Location
2. Age
3. Square Footage
4. Features
5. Schools
6. Close Proximity to Parks, Shopping, Hospitals, amenities

Terry S. Smith
Scottsdale Specialist
44 Year AZ Resident
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
Contact me Direct (602) 763-1858
Fax 1-888-315-2680
... more
0 votes 10 answers Share Flag
Sat Sep 25, 2010
Henry Gobel answered:
HAFA deals may be denied for many reasons, we'd have to look at each case. Keep in mind that the financial situation of the seller is a big part of getting a HAFA deal to go through.

Regarding the value discrepencies, this is absolutely normal. Just like a regular buyer and a regular seller haggling over price with counter offers. Now, the buyer's lender, and the seller's lender are playing the roles. The value of a property is not a thing that is cast-in-stone, black-and-white, it is just an "opinion of value".
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0 votes 4 answers Share Flag
Wed Sep 22, 2010
Don Tepper answered:
I don't know whether those people are good risks for mortgages.

But I do know that subprime lending was horribly abused a few years ago. It was terrible for the real estate business.

Not everyone is cut out to own property. And even some who are, aren't in a position now to buy. Not just because they're unable to qualify for a mortgage, but because they'd be too great a risk.

You refer to people who have "good income" and a 580 FICO score. That tells me that they're not so good at managing their money. That good income comes in, and it goes right back out. Maybe, despite that "good income" they're not paying all their bills. Or maybe they're overleveraged on their credit. There's a reason for those low scores, despite their "good income."

As for the folks with "good jobs and decent credit," that's fine. But the recent short sale says they were either unable or unwilling to live up to their mortgage obligations. And that raises at least a yellow (and possibly a red) flag with a lot of folks.

Besides, you've already got a subprime lender out there. FHA. For just 3.5% down and middling credit, most folks can get a loan. FHA has taken the place of Countrywide and American Home Funding. Wait a year or two and let's look at those default rates.

Here's a blog I wrote--a book review of The Big Short by Michael Lewis. After you read the review, buy the book:

People ought to buy when they're financially able to buy. Not before.
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0 votes 3 answers Share Flag
Mon Nov 8, 2010
Stephanie Weiss answered:

There would be many answers to this question and more than likely is a question for an attorney, not real estate professionals.
0 votes 9 answers Share Flag
Sat Oct 16, 2010
scott farmer answered:
Jumbo loans are still really difficult to qualify for in a perfect scenario. You may need to do a seller carry or lease purchase which in this buyers market might possibly work out well for you.

Sandy Farmer
Realtor, GRI, CSSN
John Hall & Associates
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0 votes 6 answers Share Flag
Thu Aug 23, 2012
The Canto Team answered:
This is correct, It actually costs money to do this small loan, There is a long story to this but basically federal laws trigger a limitation to the costs. The smallest loan still costs $3900-4300 at a minimum. The lender is then forced to reduce the fees by actually paying them.. It doesn't make sense.

However, I heard that Chase might do them (Not sure how) but call them.
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0 votes 10 answers Share Flag
Thu Dec 2, 2010
Tracey Martin answered:
Several months back Fannie Mae changed their short sale guidelines. Previous guidelines allowed a borrower, who never missed a payment, to purchase another home right away. Now it does not matter whether a payment was missed or not, there is a two year,minimum, waiting period. Another change in the guidelines is that the borrower must have 20% down to purchase in 2 years. If the borrower does not have 20% to put down, they must wait 3 years. FHA has a 3 year waiting period requirement for everyone who participated in a short sale. You can find the guidelines online. ... more
0 votes 2 answers Share Flag
Thu Aug 19, 2010
Faith asked:
0 votes 0 Answers Share Flag
Wed Apr 1, 2015
I would go to I just sold an entire condo full of furniture for cheap.

BEST prices in town for some AMAZING pieces.

Terry S. Smith
Scottsdale Specialist
44 Year AZ Resident
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
Direct (602) 763-1858
Fax 1-888-315-2680
... more
0 votes 13 answers Share Flag
Thu Aug 19, 2010
Jason Grandon answered:
Hello J,

Good question and the answer is yes, you can offer anything at anytime. Just keep in mind, that many people think because a home has been sitting for a long time that they can come in and steal it. There are many reason why the home has not sold and many times, the banks will not let it go. Other times, there may have been a renter in it and many more possiblities. The best advise I could give you is to hire a realtor. Interview 3-5 realtors. Choose the one you connect with and has "YOUR" best interest. Look at comps, discuss your goals and then go out and make offers on the homes you want. Your realtor should be able to guide you and help you make the best descisions. One final tid bit, if a home has been vacant for some time, make sure you do a home inspection. Tehre are a ton of crazy things going on with homes these days. Good luck on your search.

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0 votes 14 answers Share Flag
Fri Apr 29, 2011
Jeffrey Masich answered:
Dear Tyson:

If you do not want to go to a service that for a fee summarizes all of the public/private auctions. You can go to each individual auction website.

A large one is Hudson and Marshall. Hudson & Marshall is the nation's leading real estate auction firm specializing in foreclosure listings. To view their listings, click:

However, there are many more.

Firms that consolidate auction sites do not do this for free. There is work involved. If you do not want to pay their fee, the best thing to do is log onto the top auctions sites that have properties in your area of interest.

Note, many of the auction homes are ones that are damaged and the lender did not want to make the repairs to sell at a higher value through a foreclosure listing using a Realtor. So, be careful on these auction homes.

To see bank owned foreclosure homes listed on the MLS with some buyer rights built in during the inspection process, click:

Feel free to ask if you have any questions.

Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Scottsdale
... more
0 votes 6 answers Share Flag
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