Archive for March, 2008
Understanding Agency: Who works for Whom?
March 29th, 2008 categories: Agency
Seller Agency (Single Agency)
- Agent will represent the best interests of the seller
- Agent will owe the seller fiduciary duties
- Agent must give the buyer all material facts so that the buyer can make an educated decision
Buyer Agency (Single Agency)
- Agent will represent the best interests of the buyer
- Agent will owe the buyer fiduciary duties
- Agent must give the seller all material facts so that the seller can make an educated decision
Transaction Broker (Dual Agency)
- Agent represents both the buyer and the seller equally
- Agent’s objective is to get a mutually satisfactory agreement among all parties
- Agent gives all options to the buyer and the seller
- Depending on the local market, all parties may be present at contract presentation to negotiate on their own behalf
- All parties have confidentiality. Agent may do nothing to the detriment of either the buyer or the seller
- Both the buyer and the seller have a right to counsel. Before making any decisions, both parties have the right to seek family, religious, legal, or financial counsel.
More information on Dual Agency
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Where is Waylon
March 28th, 2008 categories: Where is Waylon
Any one who knows me, can testify to my love for my 4 legged friends. So on my nightly Where’s Waylon hunt I found him here (you never know where that Bloodhound nose will take him) - in my son’s bedroom
He just can not relax.
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What does a Bank Foreclosure look like in Phoenix?
March 27th, 2008 categories: Phoenix Real Estate Market Statistics
Well my answer may surprise you. Most probably look like this-
When I think of a foreclosure I think of the Mom and the Dad and their 2 beautiful children that have, for what ever the circumtances had to move from perhaps their dream home.
Mom and Dad have to explain why they have to leave their neighborhood freinds and activities.
I have recently helped those families-they have tried to work it out with the banks, refinance, make arrangements or modify their loans in an effort to keep their homes-to no avail. So now I help them find rentals as they pick up the pieces and start over.
So I hope the banks enjoy their homes overgrown with weeds, green pools and memories of the families they forced to walk away from their dreams.
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Phoenix Real Estate-The Good, The Bad and The Ugly
March 25th, 2008 categories: Phoenix Real Estate Market Statistics, Real Estate News
Local and National media reported today that home sales are up, however prices are dropping.
The Good: From ARMLS Data in Jan. there were 2602 homes that SOLD. In Feb 3339 homes SOLD and increase of 22%.
The Bad: (Depending on your perspective) prices continue to drop: Average Sales Price in Jan: $317,334
Average Sales Price in Feb: $308,137
A decrease of 2.8%
The UGLY: Again depends on your position in the Phoenix Real Estate Market: Current Inventory of homes for sale: 56608 with 4810 REO (Bank Owned) Homes.
Here is a chart for 2008 that illustrates the current trend.
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Phoenix Real Estate-Phoenix Condo for Sale
March 22nd, 2008 categories: My Listings
Located within walking distance to the new Phoenix Light Rail and conveniently located close to downtown Phoenix, this Phoenix condo features 2 bedrooms, 2 bath- located in a gated community with a community pool. Call for current pricing.
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What does the .75 Feds rate reduction mean to home buyers?
March 21st, 2008 categories: Mortgage and Lending
From one of my lenders, Diane Gerdes from The Mortgage Advantage-TMA
This holiday weekend has ended on a calm note after a colorful week. The Fed is allowing Fannie and Freddie to carry fewer reserves, therefore freeing up the much needed $200 billion dollars to buy mortgage loans. Mortgage guidelines are changing hourly and there is chatter that the Fed will supervise lenders and their mortgage criteria. The Fed is also lending billions of dollars to Wall Street firms that are cash strapped because of the investors jumping to any investment that does not say “mortgage.” The Fed is trying to overt another rip off (oops, I meant fire sale) like the one this week when J. P. Morgan Chase picked up the once mega Bear Stearns (known for their mortgage securities investments) for a mere song. J.P. Morgan along with Bank of America and Wells Fargo will have loads of money to buy Easter eggs this weekend with the gazillion dollars they made on the initial public offering of Visa.
FYI: The Fed’s dropped the Fed rate by .750 this week. Yes, interest rates have gotten better. No, they are not at 4%.”
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Spring Time Curb Appeal
March 20th, 2008 categories: Real Estate News
Winter rains have brought a very green and vibrant Spring- the wildflowers are 
blooming, giving sellers a great opportunity to make thier yards look like a botanical paradise.
When selling a home curb appeal is that first impression buye
rs are greeted with upon entering a home and sets the tone for their home viewing experience.
Now with winter rains come spring weeds- you see them everywhere and they seem to grow inches overnight. With over 56,000 homes for sale, prices dropping, foreclosures increasing- if you want your sell your home quickly - price it right and make it shine from the inside out. Take advantage of the beauty of spring- take a trip to Home Depot, plant some flowers, trim the trees and get your curb appeal on!!
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Why I love my job…
March 16th, 2008 categories: General
Well it is not about real estate, it is all about the relationships that develop in the process of a helping a person or family buy or sell a home in Arizona.
Today I got to enjoy a St. Patty’s Day Party with one of my past clients that purchased a home a couple of years ago in Queen Creek.
When they bought their home their daughter was about 6 months old. Now she is an adorable 3 year old with beautiful curly blond hair. I got to meet their new neighbors and friends. They love their house, they love their neighborhood.
Next week I get to help a past client (friend) shop for her wedding
and I am very touched to be apart of such a personal event. What was really fun - during their home hunt, as they were staying in an extended stay hotel, Charles the Bernese Mountain Dog traveled with us. If you do not know- I am an animal lover so it was great to have him shopping with us!! Even better, when I see Charles now, he greets me with a wagging tail and lots of kisses.
Since becoming a REALTOR, I have more friends and have had more fun that I ever thought this profession would bring to me. So to all my past and future clients “Thank you!!”
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Fulton Ranch in Chandler, Arizona
March 15th, 2008 categories: Chandler Neighborhoods
I recently visited this new Chandler master planned community. Fulton ranch located in the Ocotillo area, features 5 communities. Serentiy Shores showcases luxury condos ranging from 1300-1800 sq ft. This gated community has a fitness center, community pool, walking and biking trails, shopping and resturaunts within this master planned development.
The Gallery by Fulton Homes has 10 floorplans to offer with some plan offering basement options. Among the feature upgrades are granite countertops, paver driveways and much more. Starting in the mid $500’s ranging from 2300 sqft to over 4500 sqft.
The homes at Aegean Cove start in the mid $700’s and offer 5 floorplans again with basement options- allowing you to customize your home.
Fulton Ranch also offers custom home 1//2 acre and 1 acre homesites. You can design the home of your dreams.
There is no shortage of shopping and dining. The Promenade at Fulton Ranch features salons, Starbucks and many fine dining choices.
Fulton Ranch is located just minutes from the 202 San Tan and the Loop 101 of easy commuting into downtown Phoenix.
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Help for distressed Homeowners?
March 14th, 2008 categories: Real Estate News
“Fighting to stem a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke pledged today to do all that is possible to help struggling homeowners.
The Fed is “strongly committed to fully employing our authority, expertise and resources to help alleviate their distress,” Bernanke said in a speech to the National Community Reinvestment Coalition’s annual meeting here.
So tell me why I met with a lovely family today looking for a rental home- a very nice home-but a rental. They have tried to work with their lender to no avail.
Yes they are losing their “dream home”- in a community of new homes with a 70% vacancy rate.
Where is the help and how long will it take for banks to wake up and truly help homeowners that, for what ever the circumstances they have fallen on difficult times, keep their homes.
So to the lenders and banks- enjoy your new foreclosed home, that is overgrown with weeds, longing for the family that left and the lovely green pool that Sheriff Joe is looking for.
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