There are so many places now to retrieve  your neighborhood median home price. Yet, another one I found is this clever map powered by Google and provided by NAR with the latest quarterly median home prices for your market.

NAR (National Association of Realtors) releases statistics on state-by-state existing-home sales and metropolitan area median home prices each quarter. The state existing-home sales report includes single-family houses, condos and co-ops. The price report reflects sales prices of existing single-family homes by metropolitan statistical area (MSA).

To find our your desired area, click on the metropolitan statistical area of your choice and see the results. It will also provide the percentage change from the previous quarter. You may need to zoom in on the map to find a more detailed view of your area.

The Phoenix, Mesa, Scottsdale, Arizona Second Quarter for 2008 Median Home price dropped -22.5 % to $205.100 and the Tucson, Arizona Second Quarter for 2008 Median Home price dropped -13.7% to $215,900.

Click here to see Median Sales Price of Existing Single-Family Homes for Metropolitan Areas

View Larger Map

This housing data is provided by the Research division of the National Association of REALTORS®

If you would like to have a more in depth market analyst of your neighborhood with no obligation, please contact me direct at 480.202.3558 and I will be happy to prepare that for you. For all your real estate needs please don’t hesitate to contact me for the purchase of your next winter home, retirement home or first home in the Phoenix metro area.

Let me also invite you to search all Phoenix, Arizona homes on my free MLS Search page (valid email needed) for Arizona foreclosures, banked owned homes and short sale properties.  Where you can find

* Unrestricted access to all properties

* Receive property updates for your searches via Email

* Save your favorite properties

* Add your own notes to listings

* Create and save your personal searches

* Keep track of properties you’ve viewed

Candace Robinson - Phoenix Real Estate agent is providing Phoenix Arizona Real Estate services. Call her at 480.202.3558 today! Given tough economic times in many locations in the United States, why not consider a move to the Phoenix Metro area in Arizona. The Arizona economy currently offers some amazing buys on short sales, REO’s and foreclosed properties! Phoenix Housing Blog - Please
consider subscribing to my blog for the Valley of the Sun real estate updates.

If you are looking for information on buying Arizona Homes for Sale give me a call at (480) 202-3558 - It’s a great place to live, work and play! Arizona offers so many indoor and outdoor activities.

2008 Copyright All rights reserved by Candace Robinson, Arizona Real Estate Agent specializing in Maricopa County Homes and Condos for Sale

The advent of common use of credit scores has become commonplace.  One provider of these has become so dominant in this service that its name has become synonymous– Fair Isaac Company, “FICO”, was founded in 1956 by Bill Fair, an engineer, and another gentleman, Earl Isaac, a mathematician.  Today, the FICO score ranks a potential buyer/borrower applicant according to the likelihood that they will default in the future, with higher credit scores indicative of lower risk and lower credit scores indicative of higher risk.  FICO Bureau Scores range approximately from 375 to above 850.

“A plus” or Excellent Credit score of 720 and above will basically have a no ‘hit’ to interest rates on Conventional loans at this credit score tier.  Borrowers with fico scores in this range will be approved with higher debt to income ratios as well.

“A” Good Credit Fico scores between 680 and 719 will get borrowers an interest rate of about .125% higher than 720+ in this range.  680 is also the cutoff for Private Mortgage Insurance at 95% on a conventional loan.

“So So” Credit Fico scores between 620 and 680 borrowers will need 10% down for Conventional (due to PMI rules) and will have a rate that is .375% to .75% higher.  This tier is still very acceptable for FHA and VA so most borrowers will utilize those loan types.

Not Good Credit Fico scores between 580 and 620 borrowers on Conventional Loans require 20% down at this level (due to PMI rules).  FHA and VA still have a chance in this range but strong income and assets are typically needed to overcome the lower fico scores.

Bad Credit Fico Score below 580 will make it tough and there is not much chance of getting a loan. This might be a good time to focus on credit repair.

Here are some great tips and credit pointers for starters:

• Your credit score is a mix of Payment History, Length of Credit History, Amounts Owed, and New Credit/Inquiries, Types of Credit
• Mortgage, Installment (Car Loans), and then Revolving (Credit Cards) are weight most heavily in that order.
• Keep current balance at 35% or less than Maximum Credit Limit
• 30, 60, 90 day late’s are the killers.  A 120 day mortgage late is consider a foreclosure.
• Just because a divorce decree says the debt is not yours, you still take the hit when the ex-spouse does not pay and your name is still on the account.
• Store credit cards create an inquiry on your credit and usually create an account that is close to being maxed out on the day it is created.
• If you have a collection or a 30 day late, getting caught up will help, but your score will continue to be hurt because of the fact that it happened in the first place.
• The only way to raise your credit score is to develop a positive history of using credit to outweigh the old, bad credit history.
• Secured Credit Cards are a great way to develop positive credit history and do not allow you to get in over your head since you can only spend what you deposit in advance. www.bankrate.com is a good site to find the best cards on the market.
• You are entitled to a free credit report from the 3 Credit Agencies one time per year.  Phone: 1-877-322-8228 or website www.annualcreditreport.com (this is kind of cumbersome).  This gives you an avenue to dispute and remove incorrect information.  You have to pay to find out your score but this does not count as an inquiry.
• Take 15 seconds and log on to www.optoutprescreen.com.  You’ll no longer get “pre-approved” credit card and insurance offers becasue you are telling the 3 Credit Bureaus to quit selling your credit history.
• Be very cautious about co-signing for anyone.  If they miss a payment you take the hit 100% of the time - no questions asked.

Summary

Raising and maintaining a high credit score is pretty simple.. Get credit as required and don’t open credit for the sake of having credit. If you have credit, keep your balances as low as possible. If you do have a balance, make your payment on time.

If you do find yourself behind the eight ball, make it your mission to pick away at the debt to the best of your ability. If you are having problems, talk to your creditor or see a legitimate credit counselor.

If you are looking for information on buying Arizona Homes for Sale give me a call at (480) 202-3558 - It’s a great place to live, work and play! Arizona offers so many indoor and outdoor activities.

2008 Copyright All rights reserved by Candace Robinson, Arizona Real Estate Agent specializing in Maricopa County Homes and Condos for Sale

I get asked all the time, “What exactly is a short sale?”  Unfortunate times that we are experiencing now and so I hear this question quite a bit.  A short sale is basically when the proceeds of the sale of your property falls short of the balanced owed to the lender/s.  Providing the lender agrees to the accept an offer from a buyer that is typically significantly lower than the balanced owed on the note.

This process comes with quite a bit of work to do, however when hardships fall on those that find themselves in trouble times, then this option would be one to seek out. The key is to not procrastinate and seek out help sooner than later!

The problem with short sales is it will take some time to get an answer once you submit an offer into the lender (weeks to months).  Waiting for an answer for a short sale can be frustrating and many times what seems to be a reasonable buyer offer, the bank will just simply say, ‘no’.

Doing a short sale would be an option to avoid foreclosure and if the ’short sale packet’ and required forms are completed correctly; finding a buyer can be done.

Buyers tend to gravitate toward short sales because the list price is attractive and they believe that the seller must be desperate. However, neither of these are necessarily true and accurate.

Banks will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing.  For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency. Typically a short sale is faster and less expensive than a foreclosure.

Not every homeowner is qualified to do a short sale in Maricopa or Pinal County Arizona.  I will cover the criteria in the next post in this series: Short Sales in Arizona.  So stay tuned…

Disclaimer: This post is not intended to be or to provide legal advice. I recommend that you speak to your attorney and your tax accountant regarding specifics and to find out if this is the best option for you in your situation.

When buyers first begin looking for a home, many will ask “can’t we do this on our own? Do we really need to use an Arizona Real Estate Agent?”

The answer is yes, you can do it on your own. There is no law that prevents you from buying property without professional Real Estate assistance. You can search for homes, arrange showings, and even negotiate on your own.  The real question may be “do we want to do it on our own?”

Often times buyers are of the understanding that they could go it alone to avoid having to pay the commissions to the Arizona Real Estate agent representing them. In virtually all situations, this is not the case.  The commission for the sale of a home is paid for by the seller, not the buyer.

If you do decide to “go it on your own,” your choices will obviously be very limited. The only homes that you can buy without any Agent assistance are those that are “For Sale By Owner” (abbreviated as FSBO and pronounced /ˈfɪzboʊ/)–generally a small percentage of the market. These are home owners who, for whatever reason, have decided not to use an Arizona Real Estate Agent in the sale of their house. It may be because they think they can get more return by not paying a commission, or it may be because there was no Agent who would take their house listing at the price they demanded.

It’s a double edge sword for FSBO’s. By choosing to sell on their own to try to save the 6% commission, they will be marketing their property to a much smaller buyer pool which in turn will most likely result in ‘missing’ that perfect buyer who is currently working with a broker.

On a similar note, those buyers who are looking ONLY at FSBO listings in the hopes of getting a better deal will never, ever submit a full ask bid anyway as their very goal is to save as much money as possible on their home purchase. Not the ideal buyer in regards to a seller seeking top dollar for their home!

Here are just few reasons I could see why working with an Arizona Real Estate agent to purchase a home:

• It’s Free! Your REALTOR®’s commission is typically paid for by the seller.
• REALTOR®s who are a member of the Multiple Listing Service (MLS), have hundreds of Arizona homes to choose from.
• A REALTOR®s duty is to get the best possible price and terms for you.
• A REALTOR® should act in your best interest and provide you with all available facts about properties that could influence your decision to make an offer on a home.
• A REALTOR® will offer informational materials to help you make a realistic offer.
• A REALTOR® will prepare and present your offer (purchase contract) to the seller on your behalf.
• A REALTOR® should give you ‘what if’ scenarios about clauses, time frames, and requirements in a contract.
• A REALTOR® should accompany you on your visit to any new home development to work with the builder specific terms and issues.
• A REALTOR® will track and manage many of the tasks required to close your transactions, such as home inspections, title insurance, home warranty, and contract deadlines.
• A REALTOR® has the knowledge and expertise to negotiate and resolve any problems that may arise.

A checklist on the advantages of “On Your Own” or With an Agent

The purchase of a home is a major investment. A licensed, Arizona Real Estate professional will work by your side throughout the buying process to assure a successful home purchase.

There are many aspects of the transaction that can go wrong and often times missed by simply by ‘going it alone.’  Comparative Market Analysis can determine whether or not the house is worth the asking price. A  REALTOR® will have access to up to date information for you so that you aren’t paying too much on your investment.

So, ‘How do you decide? Personally, I believe there is too much money potentially involved to take that risk. Purchasing a home is a very large buy, probably your largest in a lifetime, why not have someone on your side that works in the industry to help make your home buying experience a memorable one.

I am dedicated to meeting your needs and the more information you can share with me, the better I can serve you.  Please contact me at 480.202.3558 to schedule an appointment so we can discuss more about your dream home.

Sincerely,

Candace Robinson

If you have decided to hire a moving company, you should allow six to eight weeks to find just the right company for your valuable possessions.  You are looking for a company that is reliable, affordable, and “kind” to your possessions.

Ask Around

Start by asking friends, relatives, or neighbors who handled their move.  If you see someone moving into your neighborhood, stop to ask about their moving company.  If you would like, as your real estate agent, I would be happy to assist you in finding such companies to help make your move less stressful.

Questions to Ask

• Does the company subcontract its moving services?
• Which subcontractor would be used to move my home?
• Will the contents of my home be on one truck the entire time?
• What services are not listed on this bid and what do you charge for them?
• What training do your movers and packers receive (especially for moving and packing fragile items).
• Can you provide references from previous moving customers?
• Are you listed with the Better Business Bureau?
• Are you insured and licensed?

Moving Estimates

Moving companies usually offer a free estimate, it would be to your advantage to solicit from several companies for comparisons.  Be sure to tell the mover about any special circumstances which may add to the difficulty of the move, such as parking problems, road access, street accessibility, delivery time restrictions, gated communities, stairs and elevators.

There are generally three types of moving estimates:

Binding Estimate: In a binding bid, the mover will offer a guaranteed price within a small percentage of deviation that is based on a complete list of items to be moved and the type of service performed.

Non-Binding or Hourly Rate: This is really just a price list.  The rates are based upon the movers’ previous experience of jobs similar to yours.

Not to Exceed: This quote states that the final price for the move cannot exceed the estimated figure.  If the move comes in under the estimated amount, you the pay the lesser price.

Bids are created by using a method that is unique to the moving industry.  Each move is assigned a certain number of “cubes.” A cube equals seven pounds.  Estimators will multiply the final number of cubes by seven to determine the price.  Estimates should include all moving charges, such as carrying up stairs or elevators, additional transportation, moving bulky articles, carrying an excessive distance, overtime, and more.  Packing bids should state the labor charge as well as the cost of boxes and other moving materials.

Are you thinking of buying a home in Arizona? Well, what are you waiting for? Let’s work together to start planning your future. I would like to help you do what I do best — find the perfect Arizona real estate for you. Here are a couple of questions you might think about before we meet.

Are you ready to buy a home? Some factors to consider when preparing to buy a home are whether or not you have a steady source of income and if you have been employed on a regular basis for the last few years. Also, determine how much money you have saved for a down payment and what would be a realistic amount of money that you could spend on a mortgage each month. There are additional expenses such as closing costs, taxes, insurance and home owners’ association fees that we should calculated as well. I can help you do this. Let’s schedule a meeting.

We should investigate the maximum loan amount that you would be able to afford in order to establish the price range of houses to consider. Lenders calculate your debt-to-income ratio, which is a comparison of your expenses to your gross (pre-tax) income. Monthly mortgage payments should total no more than 29% of your gross income, while the mortgage payment, combined with other long-term debts (such as car payments) should not exceed 41% of your gross income. The lender will also take into consideration your credit history and cash available for a down payment when determining your maximum loan amount.

Once we have agreed on the price range of homes to look at, next we should discuss your needs. Think about where you would like to live and how much space you would like to have. I suggest driving through neighborhoods you are considering and attend local open houses to get an idea of what you want. When deciding on possible locations, think about distance to your job, schools, family, etc. It’s best to make a list of your priorities, such as location, size, and amenities. Determine the minimum requirements that the house must have for you to consider it as well as a wish list of perks you would like it to have.

I am dedicated to meeting your needs and the more information you can share with me, the better I can serve you. Please contact me at 480-202-3558 to schedule an appointment so we can discuss more about your dream home.

Cordially,

Candace Robinson
Home Smart Real Estate

Criteria For Selecting A Listing Agent

- Real Estate consumers would be wise to select an agent:

1. Who is professional in appearance, attitude, demeanor and capability.
2. Whose company has a strong local reputation for service, ethical performance and available resources.
3. Who is willing to prepare, present and commit to a written comprehensive marketing plan.
4. Who is willing to commit to a schedule of communication, follow up activities and attending to details.
5. Who has experience and knowledge of the local marketplace.
6. Who is skilled and accomplished in formulating and implementing effective negotiating strategies.
7. Who has a reputation for caring, committed and trustworthy service.

Considering relocating to the Metro Phoenix area, whether you are relocating for a new job, for family, or to retire, I can help make your move successful and stress free. Not sure which neighborhood is right for you? Need information about schools, employers, local taxes and financing?

Be sure to Contact me for all of your relocation needs including:

• Community and school information (with maps)
• Personalized home searches based on your needs
• Expert advice on local taxes and financing
• Expert advice on local businesses and employers
• Referrals for movers, utilities and other local service providers
• Hotel reservations and other travel assistance
• Anything else you need to make your move successful

Please feel free to browse through some of the Phoenix Metro Valley Homes and be sure to let me know if I can be of assistance to you for all your real estate needs. Fantastic lenders available upon request to help you get pre-qualified.

Other helpful resources:

• Before Your Search Begins - Basics of Home Buying
• TO RENT OR TO BUY? - BUYING THE BEST HOME: SERIES 2
• Why do 1,000 new residents move to Gilbert, Arizona each month?

The Five (5) Fatal Mistakes Home Sellers
Make When Pricing Their Home -

1. Sellers often price their home based on “need’ rather than the market.
2. Sellers use the ‘wrong’ properties for comparison when pricing.
3. Sellers build in a ‘negotiating cushion’ and then have no one with which to negotiate.
4. Sellers take advice from ‘well meaning’ but uninformed parties.
5. Sellers allow positive emotions about their property to influence their pricing decisions.

It can be difficult for sellers to be objective about the value of their home. Often times sellers estimate high, yet some sellers have no idea how much their home has appreciated and have underestimated the value. Sellers would be wise to rely on a real estate professional for a realistic price assessment. The dynamic is changing in many real estate markets around the country. Sellers, in many cases, are no longer in the driver’s seat. Keep this in mind when you select a list price for your home.

Comparable sales from a few months ago may be out of date for the current market. Even though your neighbor’s home sold for an exceptional price, it may have been the only game in town at the time.

The chance that your home stays on the market longer, it creates a negative stigma. Buyers will have concerns and wonder what perhaps might be wrong with the home. In most cases, the only thing wrong is the price.

If you agree to lower the price you are now chasing the market. By doing so is the correct thing, however it can be fruitless if you reduce too little, too late. Meanwhile, more well-priced listings come on the market and sell. Pricing your home correctly the first time is key.

Seeking out a professional listing agent that will provide accurate sales in your immediate neighborhood with informative knowledge will lead you to great success in getting the best price for your home. Selecting A Listing Agent - Consumers be wise!

Inquire of the agent you are considering to provide you with a detailed marketing plan to let you know how he or she will accomplish the sale of your home. Consider using a listing agent that does market extensively on the Internet. Buyers are turning to the internet more and more now to find their dream home. It’s very important to be sure that the agent you choose is up on the latest technology and offer the maximum exposure on the internet.

If you are looking into buying or selling a home in the greater Phoenix metropolitan area, hire a REALTOR® like myself, who wants to win your business. I invite you to contact me direct to assist you with all your real estate needs or questions!

I will be honored to share with you an educated idea of what your home’s value is based on experience, local knowledge, and comparable actual sales in your neighborhood! To get a FREE no-obligation Home Evaluation specific to your needs be sure to contact me direct. If you have any general questions about buying or selling real estate please don’t hesitate to contact me.

If you are relocating to the Phoenix Metro area and need information about schools, employers, local taxes and financing? Be sure to Contact me for all of your relocation needs including:

· Community and school information (with maps)

· Personalized home searches based on your needs

· Expert advice on local taxes and financing

· Expert advice on local businesses and employers

· Referrals for movers, utilities and other local service providers

· Hotel reservations and other travel assistance

· Anything else you need to make your move successful

Please feel free to browse through a search of Arizona homes and let me know if I can be of assistance to you in any of your real estate needs. I also work with great Lenders that are available upon request to help you get pre-qualified.

Other helpful resources:

· Before Your Search Begins - Basics of Home Buying

· TO RENT OR TO BUY? - BUYING THE BEST HOME: SERIES 2

· What A Difference A Year Makes…

· A Great Time For First Time Buyers - FHA Loans

· Why do 1,000 new residents move to Gilbert, Arizona each month?

“Where should I live?” and “How much house can I afford?” Two very basic questions I get asked often when buyers consider buying a home in the Phoenix, Arizona area.  My answer would be very similar when it’s a home purchase or any property purchase for that matter.  Whether for primary residence, investment property, vacation home or retirement home it is all about money and location.

Depending on how you are accustomed to make decisions, you could be the kind that falls madly in love at first sight or the one that will need to think through your answers in order to make a decision that will help you feel secure and certain.

Being the most basic of questions doesn’t mean the easiest to answer. I believe the answers to these two basic questions will be the foundation of which the rest of your decisions will rest.

Where Should I Live?

Rule of thumb– There is more than one right home.

Sometimes buyers can become overcome with emotion that they can be fixated on one particular property.  There is more than one right home.  When you are out looking, try to retain a little bit of perspective. Try to not get to emotionally involved with the seductive process of buying a home, it’s spending money, a lot of money!

Often times first time home buyers will fall in love with a house in a neighborhood that might not be the best fit with them.  Even though you’ll live in the house, you still have to travel through the neighborhood to get there.

Is it a nice neighborhood? Is there any obvious signs of vandalism? Is there a neighborhood crime watch group?  Are your neighbors your age?  Are there families around the same age as yours?  Are the school districts the right choice for your family?  To avoid making this mistake, spend a lot of time in the neighborhood before you buy. Drive to and from the house, go there during the morning, night time and weekends. Check out the local restaurants, grocery stores and businesses that you most likely will be frequenting. Think about whether or not this neighborhood will make you as happy as the house.

No one’s saying you shouldn’t take your time when finding the right house or neighborhood.  You should!  In fact, take all the time you need.  Don’t let your broker bully you into making a decision before you are ready to do it.

How Much Can I Afford?

The answer most experts give is this, if you can afford rent and have cash for a down payment, you can probably afford to buy.  However, the easiest way to find out how much you can afford is to get pre-qualified.

Many lenders I work with would be delighted to pre-qualify you in a preliminary way with no obligation.  Pre-qualifying is a fairly painless process.  You will be asked a few simple questions about your debts and assets and then apply some debt-to-income ratios that have proven successful over the years.  The lender then will be able to tell you a number which is the amount of mortgage you can support based on your income, assets, and liabilities.  At that point you can determine exactly how much house you can afford to buy.

Be cautious– don’t assume that because you can qualify for the biggest house on the block that you should take that full amount you have been pre-qualified for. Be sure to take into consideration other unexpected expenses and take a mortgage that makes you comfortable and works within your budget or means. Just because your lender tells you that you can qualify for more, doesn’t mean you should purchase a home for that amount. Be reasonable and wise.

If you would like for me to share my reliable lenders with you and see how much you can get pre-qualified for, please contact me.  I will be happy to email or connect you with some very professional Arizona lenders.

If you are just starting to look at new homes, investment property, retirement homes or perhaps income properties, feel free to get in contact with me and I can share some areas that might appeal to you and your needs.  If you would like to start your home search now, check out my Phoenix MLS Search page.

• Are you behind on mortgage payments?
• Does your adjustable rate mortgage continue to go up?
• Is there a temporary hardship keeping you from making payments?
• Do you owe more than your home is worth?
• Have you tried to refinance and can’t?

What is a Short Sale?

There are situations in which keeping your home just isn’t feasible but that doesn’t mean you have to foreclose. If your home is impossible to afford and market conditions have lessened the value of your home, a short sale would allow you to sell your home for less than what you owe on your mortgage.

To conduct a short sale, we have to first negotiate with your lender and get them agree to it. From their perspective, it makes sense because it allows them to avoid a long and costly foreclosure process. Remember, the lender is looking to avoid foreclosure as it’s considered a last resort.

For you, a short sale represents an opportunity to sell the home for less than what you owe and lessen the impact to your credit altogether.

What the short sale process entails?

From the time you determine to pursue a short sale, there are a few things that you will need to do.

• List the home with an agent. An experienced agent that is familiar and skilled in conducting short sales.
• Submit a hardship letter. Your hardship letter is important. It’s your chance to explain your situation and make your case for having the lender accept your loss mitigation request.  I will be happy to provide a guideline on how to compose your letter to your lenders.
• Prepare the home to sell and allow showings. Working together to provide all necessary documentations to your lender/s and progress forward to ease your unfortunate situation.

Who qualifies for a Short Sale?

You may be thinking a short sale is the answer to your mortgage troubles. It’s very possible that it is, but there are some basic principles of a short sale qualification to consider. Here are three principle ways to qualify.

• Market value of the home has dropped. Most people looking at a short sale as an option have experienced a drop in home value to the point they now owe more than the home is worth.
• The mortgage is in default status or could be in the near future. With the current market being as it is, lenders are becoming more willing to consider a short sale even before the home goes into default. This helps them cut the problem off before it costs them more money.
• The seller has a hardship. With any loss mitigation program, documenting the hardship that has caused your current situation is required. Lenders might be particular about the hardship so it’s best to rely on a short sale  expert to help you with the letter.

If you think you qualify for a short sale, please don’t hesitate to contact me to begin determining a course of action. It’s important to remember that time is not on your side in these situations and the quicker you act the better chance you have of achieving a successful short sale.

Candace Robinson REALTOR®
HomeSmart Real Estate
(480) 202-3558 direct
(480) 889-3700 office
(602) 710-2393 fax
1745 S. Alma School Rd. Ste 115
Mesa, Arizona 85210
www.phoenixarizonarealestatehomes.com

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