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Home Buying in Scottsdale : Real Estate Advice

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  • Local Info35
  • Home Buying203
  • Home Selling23
  • Market Conditions31

Activity 159
Thu Oct 15, 2009
Stew Keene answered:
Scout,

You can either cancel the contract or try and negotiate the seller to reduce the price.

You may have to provide a copy of the appraisal to the seller/lender to prove the valuation.

Some lenders will reduce the price, some won't.

Consult with your Realtor for further advice.

Stew Keene
Home Smart Realty
Master of Real Estate Society
Scottsdale Area Specialist
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0 votes 3 answers Share Flag
Wed Oct 15, 2014
Nina Penny answered:
Not every bank will allow a spot approval- on a condo. If a bank does allow a spot approval, the Assc. will
need to complete a questionaire and it will be submitted to the bank along with your application and documents. I would suggest having your loan officer do the survey upfront, so you will not miss out on the
tax credit. I
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0 votes 6 answers Share Flag
Wed Feb 18, 2015
Linda Salkow answered:
I posed this question because I hear it all the time from prospective Buyers. If a Buyer is looking for a high end gated community with 24/7 guard gated security, amenities galore, golf, tennis, fitness, concierge services, etc. this is like an adult playground. People from all over the world have made Desert Mountain their home or vacation home. Friendly members, a wonderful and accomodating staff, and of course a diverse mix of people. Why not belong to a community like this AND with the HOME VALUES at record low prices, it is an awesome time to buy. Doesn't everyone want to Buy low?? Call me anytime to discuss your Buying options. There is something in Desert Mountain awaiting you now. Click on my website below to map and see every home currently on the market.. Linda Salkow Exclusive Properties of AZ. 480-620-3511 ... more
0 votes 3 answers Share Flag
Tue Sep 22, 2009
Paul Welden answered:
Hi Scout,

Congratulations on your offer being accepted!

Your next step depends on the terms/conditions in the purchase contract that you signed and agreed to. You need to ask your Buyer's Agent. If you don't have a buyer's agent, then ask the seller's agent. If no agents involved, then ask you lender what to do next ... if you are getting a loan.

Are you paying cash? Then no appraisal is needed. So, get your home inspection done.
Are you getting a mortgage? You may want to get your appraisal done, unless the seller or seller's lender already had an appraisal done, then you may be able to transfer that appraisal to your lender. Ask your lender for advice.
Is your contract contingent upon appraisal? Is your contract contingent upon inspections?

If you don't have a Buyer's Agent assisting you, it's never to late to hire one. Or you could always hire a real estate attorney to assist you.

Regardless of what you do, make certain that you abide by the terms and conditions that you agreed to when you signed the purchase contract. Without a being directly involved in your purchase and without a copy of all of your purchase contract papers, it may be a bit challenging to give you 100% correct advice on what you should do next, but more than likely, you'll want to get an appraisal and a home inspection.

-----
PAUL WELDEN
HomeSmart
602-503-4010
Buyer's Agent Realtor
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0 votes 6 answers Share Flag
Sun Sep 13, 2009
Melanie Johnston answered:
A great place to search for a vacation rental is VRBO.com, which stands for Vacation Rental By Owner. You will see hundreds of options and most have calendars that show their availability. There is a lot of demand for rentals in January, February and March—Scottsdale's high season—so it's good that you are looking now.

Best of luck!

Melanie Johnston
Keller Williams Arizona Realty
Scottsdale, AZ
scottsdaledealfinder.com
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0 votes 3 answers Share Flag
Sun Sep 13, 2009
John Schultz answered:
If the sale is around market value, then yes, there is a good chance they will accept that loss. I've seen much greater than 300k recently. One was over a million dollar hit....
0 votes 5 answers Share Flag
Fri Sep 25, 2009
The Hagley Group answered:
Are you the byer or the seller?

It all depends on the lender. Chase and Bank of America (which includes Countrywide) can easily take six months or longer.
0 votes 3 answers Share Flag
Fri Sep 25, 2009
Melanie Johnston answered:
Azgirl,

A short sale home can be a good opportunity if you are not in a rush to buy and if you are not trying to make the deadline for the $8,000 First-Time Home Buyer Tax Credit. There are too many variables to be sure that you would close on time, with banks taking an average of 60-90 days to respond to offers.

About the price, the only way to know if it would be a good deal is to compare it to recent sales. Let me know if I can assist you further.

Melanie Johnston
Keller Williams Arizona Realty
480-241-0241
... more
0 votes 13 answers Share Flag
Fri Aug 28, 2009
Patty Fisch answered:
Land lease are fees you need to pay - in Briarwood, these are paid monthly. The link below contains active listings in Briarwood and you'll see what the land lease fees are for the homes currently...

http://www.flexmls.com/link.html?oubi00fwz4i,12,1

If you'd like to see a list of homes that don't have land lease fees, just let me know and I can set-up a custom search for you...

Patty Fisch
West USA Realty Revelation
pattyfisch@westusa.com
... more
0 votes 2 answers Share Flag
Sun Jun 21, 2009
Laura Myers PLLC, CLHMS, GRI, answered:
city planning is closed for me to verify for you tonight but I do believe it is 4 homes share a well. That is what I have typically seen on shared well properties. I would confirm with the city in which you are making your plan to assure your information.
Laura Myers
Keller Williams Arizona Realty
480-600-6213
... more
0 votes 3 answers Share Flag
Sun Oct 9, 2016
Lori Jeltema answered:
It is often the buyers responsibility (and will be spelled out in your contract) to pay for the utilities to be turned on so you can inspect the property. You will have to turn them on and typically pay an upfront fee to 'winterize' them again right after the inspection as the bank may not allow them to be left on. If you buy the home, you should be able to transfer deposits.

Remember, if there is a gas supply and it has been turned off for over a few months, you may have to have a city inspector come and clear the home for utilities prior to them being turned on . When you call the gas company, ask how long it's been and if there is a mandatory inspection. What you DON'T want is to schedule the utilties to be turned on, schedule and pay for your home inspection then find out that there is a city inspection required first. They may be able to fit you in or it may take over a week.. You should have probably called and found this out first so you would know to allot yourself a few extra days for your inspections. Either way, make the calls asap! Good luck.
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0 votes 15 answers Share Flag
Wed May 4, 2011
Tobie Ward answered:
That is a very good question, and one I am asked frequently, I guess the answer depends on your personal situation. Obviously , if you pay cash then you have no monthly payment so you cash flow immediately, and when your property isn't occupied you have minimal outgoing expense, but if you need immediate cash accessing it could take time. However there can be some tax advantages to mortgaging your properties, and with interest rates being so low this is very tempting, it can also allow you to purchase multiple properties with the same investment. It would also be possible to keep some funds in reserve for emergency exenditures, but you would be responsible for those monthly payments when they are unoccupied. Also your long term appreciation is impacted when yo take into consideration the interest you will be paying. All of these things, as well as others, should be taken into consideration when you purchase an investment property. Good luck and don't hesitate to contact me if you have any other questions. ... more
0 votes 22 answers Share Flag
Tue Apr 21, 2009
Stew Keene answered:
Hi Phred,

Your realtor should be able to provide this information to you.

Did you ever get a chance to look at any available properties while you were in town?

Stew
0 votes 1 answer Share Flag
Tue Apr 14, 2009
Kim Baker answered:
I would ask your agent. He/she will advise you quickly comparable homes are selling in that neighborhood, at what price and the difference between the list and sale price, which is called the "trading range." Additionally, many lender owned/short sale properties are being listed low in an attempt to secure multiple offers that put the sale price above the list price. So without more information, I cannot attempt to address the question accurately other than to consult with your agent. ... more
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Wed Jun 3, 2009
Robert Kroon answered:
Yes, more and more we are hearing this, or something similar, from sellers ( lenders / banks) .

We have agents in our office that list REOs and they say this is a fairly common practice. Banks will always try to squeeze out more nickels.

It is not uncommon for the sellers / listing agents asking the buyer's agent to accept a reduced commission.
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0 votes 7 answers Share Flag
Tue Apr 7, 2009
John Schultz answered:
It's almost a crap shoot w/ regards to what they'll accept. Depends on how well it's comp'd, how the listing agent recommends they price it, and how motivated they are to get it off their books.

The well priced ones often go for above asking with 5, 10, or more offers. Each home is different so there's no rule of thumb...sorry. Not a ton of help, but that's what I'm seeing.
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Wed Apr 8, 2009
Jeff K answered:
What area of NJ ... it's a small state but a big one too ...
0 votes 5 answers Share Flag
Wed Apr 1, 2009
Donald Keys answered:
Here are the reference numbers where you can find the info:

Grayhawk Master Association
8623 East Thompson Peak Parkway
Scottsdale, AZ 85255
Phone: 480-502-1547
Website: http://www.grayhawk.com

Grayhawk Community Management
Capital Consultants Management Corporation
8360 E Via de Ventura, Ste L-100
Scottsdale, AZ 85258
Phone: 480-921-7500
FAX: 480-921-7564
Website: http://www.ccmcnet.com

Grayhawk - Crown Point - HOA Website
Website: http://www.grayhawkcommunity.org

Grayhawk - Retreat - HOA Website
Website: http://www.grayhawkcommunity.org

Scottsale Repo Homes - Free List with pictures
updated daily! http://www.ScottsdaleAZRepos.com
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0 votes 5 answers Share Flag
Wed Mar 25, 2009
Donald Keys answered:
I think they are VERY important. I take between 100 to 150 photos of an average listing, choose the best 6 to 24 photos and make sure they are light and bright and show details buyers want.

Here is my latest listing:

http://www.flexmls.com/link.html?opdjyrlwq4y,12,1

I would love some feedback on the photos from an internet shopper.

Thank you
... more
0 votes 9 answers Share Flag
Mon Mar 2, 2009
Donald Keys answered:
Daniel, I have an email into my preferred mortgage broker. I should have an answer for you very soon.
0 votes 7 answers Share Flag
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