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Phoenix One of the Worst Places to Retire NOT TRUE!

admin — Thu, 08 Sep 2011 16:25:03 +0000

Report Calls Phoenix One of the Worst Places to Retire…NOT TRUE!

PHOENIX – The Phoenix metro is named one of the worst cities in the country to retire — and you can blame it on the housing market. (see video interview below)

The valley used to be the place to retire — at least part of the year, because of our wonderful weather.

But now, some financial experts say the Phoenix housing market seems too gloomy.

Everywhere you look across the valley, there’s another house up for sale, and realtor Bette Zerba says a lot of those sellers will lose money.

“For those people that were thinking that their home was their retirement, I feel for them, because prices have come down dramatically at least 30 percent at least in Sun City areas,” says Zerba.

It’s also the main reason why Phoenix has been named one of the worst places to retire in the country, according to the fiscal times.

The other four places include: Las Vegas, Nevada, and Clark County in general; Davenport, Florida; and the Laguna Woods Village in Orange County, California.

A leading valley real estate professor says he doesn’t see the valley turning around for many years down the line.

Zerba agrees, and says retirees looking to sell are vulnerable.

“Right now they’re in the same predicament as a lot of people in the Phoenix area. If they did purchase after 2004, 2005 they are upside down, there’s no question about it.”

However, there’s a silver living in all this.

“The bright side of the coin, for those who truly want to do some cherry picking and get incredible buys, now is the best time in the world.”

There are 916 active listings in Sun City, Bette Zerba, Re/Max Realtor says

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Chateau On Central Open To Buyers At Reduced Rate

admin — Fri, 31 Dec 2010 17:55:59 +0000

Chateau On Central Open To Buyers At Significantly Reduced Rate. Save millions!

The brownstone development, Chateau on Central, at Palm Lane and Central Avenue this month opened to buyers again after months of construction led by the developer, MSI West Investments.

MSI West Investments bought the property this year for $7 million after efforts to sort out the bankruptcy of Mortgages Ltd.

Luxury homes

The 21 homes in this development are three stories and include a basement or wine cellar. They also include high-end amenities such as granite countertops, elevators and terraces.

Price point

Most homes include about 5,200 square feet of space, but one home has up to 8,200 square feet.

These luxury homes were originally priced at more than $2.8 million, but since MSI West Investments bought and has worked on finishing the homes, the price has been slashed in half to about $1.4 million.

Home business

The homes, which are near the Phoenix Art Museum and Heard Museum, are made for mixed-use. This designation allows owners to operate offices or businesses in the homes.

Call Us Today For A Viewing Appointment of Chateau On Central 602-791-1766

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Gay and Lesbian Friendly Neighborhoods in the West

admin — Wed, 15 Dec 2010 19:45:10 +0000

Gay and Lesbian Friendly Neighborhoods in the West

Bette Zerba
Peoria, Arizona

Like most urban-to-rural homeowners, Bette Zerba wanted the quiet and safety of a smaller neighborhood. The Realtor and her partner, Bonnie Burns, picked their Peoria home because it’s 25 minutes from downtown Phoenix, and a world away in privacy. With homes going for about $150,000 to $215,000, the price didn’t hurt either.

“You feel like you’re living in a resort town all the time,” says Zerba, 54. “I love the weather, and it’s very safe. This is a family-oriented place, with lots of kids, and Halloween is a big deal at our home. We make the kids dance to “Thriller” before they can have candy, and they love it.” The Southwestern-style home was built in 1993. As for being gay, “We’re called ‘The Girls,’” says Zerba. “We have several police officers in the neighborhood and feel very safe.”

Source: By David Toussaint, FrontDoor.com | Published: 11/18/2010

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The Cutty Group Real Estate Duo Featured in West Valley Magazine

admin — Wed, 27 Oct 2010 16:41:53 +0000

The Cutty Group Real Estate Duo Featured in WestValley Magazine

The article will be published in December in the West Valley Magazine. But here is you sneak peek!

If Trisha Brooks and Bette Zerba have a niche, it’s fun. They call themselves the Cutty Group, a name that sprung from a Whoopie Goldberg comedy that featured a bottle of Cutty Sark. The two are known to dress in “theme,” and they’re always laughing. They are
with Re/Max Desert Showcase in Peoria, but they work Valley wide, as “Biltmore Bette” is sure to tell you.

When asked, “Why partner up?” Trisha explains: “The foreclosure market has created a situation where there is just too much work for one person. It is a way to divvy up responsibility and expenses.” Sometimes property improvements will cost the team upwards of $2500. Spreading the upfront investment between two is more manageable.

And why partner with a woman? Trisha says she’s seen real estate partnerships break up when they become unbalanced, and that a true partnership has no head. Women see the value of true partnership. They are less likely to let ego get in the way. “For us, it’s not about winning as an individual, but for doing what’s best for the team. We work hard and we play hard. We talk each other through our differences when we are coming from a different point
of view.” Read full article: In The News:

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Phoenix Home Prices Up

admin — Wed, 12 May 2010 16:11:40 +0000

Phoenix Home Prices Improve

Phoenix is one 91 cities out of 152 across the country to post an increase in home prices during the past year.

Results from the National Association of Realtors latest survey, released Today, show existing home prices climbed 9.1 percent in the Phoenix-area for the 12 months ended March 31st. The region’s median price climbed from $129,200 to $140,900
during the period.

“Buyer confidence is back, and home buyers have long-term views,” said National Realtor President Vicki Cox Golder, who is a Tucson real estate agent. “The typical buyer plans to stay in their home for 10 years, so we’ve put the flipping mentality behind us.”

She said more people are buying with plans to hold onto homes for 10 years or longer.

The shift in mindset among buyers, particularly in metro Phoenix, is key to the area’s housing market recovering.

Some other cities that experienced home price booms and crashes during the past six years didn’t fare as well as metro Phoenix. Home prices are down 15 percent in Orlando and 11.8 percent in Las Vegas.

Even more stable housing market are posting declines in home values. Chicago’s home prices dipped 5 percent during the 12 months tracked by the Realtor report. Albuquerque home prices are down 4.6 percent. and Seattle saw a 4 percent decline.

Source: http://www.azcentral.com/members/Blog/CatherineReagor/82038

Search the entire phoenix metro area foreclosure properties for sale

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Powerful Winter Storm Hits Arizona

admin — Thu, 21 Jan 2010 18:53:25 +0000

Powerful Winter Storm Hits Arizona

The leading edge of a powerful winter storm hit the Valley Thursday morning, with heavy rain and strong winds expected later in the afternoon.

The storm already was generating rainfall of an inch an hour in the north part of the Valley, prompting the National Weather Service to issue a flood warning. The warning was for parts of northeastern Maricopa County, including Scottsdale, Peoria, Wittman, Wickenburg, New River, Fountain Hills and Circle City.

Warnings were also issued for Central Gila County, including the City of Roosevelt, and North Central Pinal County. The warning was in effect until 1 p.m.

Meteorologists at the National Weather Service reported flash flooding soon after the warnings were issued for at-risk areas, including Cave Creek Wash, New River Wash, Skunk Creek, Centennial Wash and Agua Fria Wash.

The main thrust of the storm is anticipated for later in the afternoon and evening, said Ken Waters, warning coordination meteorologist with the National Weather Service.

“We have one little wave that came through this morning,” Waters said, “but a lot more is coming.”

The Valley could receive upwards of 5 inches of rain, forecasters said, and the flash-flood warning is in effect for for Thursday and Friday.

Steady rainfall in the morning has already dropped more than an inch in parts of Cave Creek, Peoria and Surprise.

Heavy ran was expected later Thursday and all through the night. Already, flooding was being reported and a number of roads closed: — Recker Road, between Elliot and Warner roads, in Gilbert.

– Osborne Road, between Miller Road and Hayden Road, in Scottsdale.

– Un-bridged roads over the Indian Bend Wash, between Chaparral Road and McDonald Drive, in Scottsdale.

Strong, damaging winds were expected between 9 a.m. and midnight — with the hardest hitting in the early afternoon at upwards 40 mph and gusts between 50 to 65 mph, Waters said.

Up north, Interstate 17 is closed near Camp Verde due to the storm as they are expecting heavy snow all day, Waters said. The snow level is expected between 2 to 4 feet by the weekend.

I-17 is also closed in both directions at mile post 298, the exit going into Sedona, and at the Flagstaff Airport, just south of Flagstaff, due to the severe weather conditions, according to Arizona Department of Transportation spokesman Doug Nintzel.

Sections of the interstate were closed after several accidents caused by vehicles sliding off the road as they attempted to go uphill.

“We’re advising drivers to avoid travel to the high country until weather conditions improve,” Nintzel said. “We know a lot of folks want to go play in the snow…the best advice we can give is to wait until the conditions improve and then go have fun.”

Cities in northern and central Arizona spent Wednesday preparing for the nasty winter storm that’s coming in from California.

Forecasters urged residents to avoid crossing flooded areas and reduce speeds on snowpacked and icy roads, postponing travel all together if possible.

Officials in Oak Creek, near Sedona, issued both assurances of preparedness and warning of possible evacuations while Valley cities continued to hand out sandbags.

The storm is the third, and biggest, system rolling through the state this week and has authorities hunkering down for big challenges.

Among those is the possibility that northern Arizona waterways such as Oak Creek will flood. The city put an advisory on its Web site Wednesday saying its police department was getting its evacuation plan ready but no one had been ordered to leave as of Wednesday night.

“We’re gonna get a lot of water,” said Gary Johnson, spokesman for the Sedona Fire Department. “It could be a problem. We’re just not sure.”

Source: Republic reporters Glen Creno Mary Beth Faller, Peter Corbett, and the Associated Press contributed to this article.

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Phoenix AZ New Home Sales Fall

admin — Wed, 28 Oct 2009 21:57:39 +0000

Phoenix AZ New Home Sales Fall and U.S. new home sales fall

Sales of new U.S. homes unexpectedly fell in September, a sign the housing recovery may lose momentum after a government tax credit expires.

Sales decreased 3.6 percent to a 402,000 annual pace, lower than the median forecast of economists surveyed by Bloomberg News, figures from the Commerce Department
showed today in Washington. The median price of a new home dropped 9.1 percent from September 2008.

Contracts signed last month will probably not be able to close before an $8,000 first-time homebuyer tax credit expires at the end of November, raising concern the market will retrench in coming months as unemployment and foreclosures climb. Economists view stabilization in housing as key to any rebound from the worst recession in seven decades.

The report tempers enthusiasm about the rebound in housing, said Richard DeKaser, chief economist at Woodley Park Research in Washington, whose forecast was the lowest among economists surveyed. Key to keeping the market on track is extending the credit and sustaining low mortgage rates

Stocks fell following the disappointing sales report. The Standard & Poor’s 500 Index was down 0.5 percent to 1,057.68 at 10:17 a.m. in New York. Treasury securities rose.

Unexpected Drop

New-home sales were forecast to rise to a 440,000 annual rate, according to the median forecast of 75 economists in the Bloomberg survey. Estimates ranged from 412,000 to 460,000 after an initially reported 429,000 rate in July. Last months pace was the lowest since June.

A second Commerce Department report showed orders for durable goods rose 1 percent in September, a fourth gain in the past six months and signaling factories are helping ring in an economic recovery.

The median price of a new house fell to $204,800 compared with $225,200 at the same time last year. The value was up 2.5 percent from the prior month, reflecting a plunge in the share of houses selling for less than $150,000, a category that often includes first-time buyers.

Sales of new homes were down 7.8 percent from September 2008.

The decrease in sales was led by an 11 percent drop in the West and a 10 percent decrease in the South. Purchases in the Midwest jumped 34 percent and were unchanged in the Northeast.

Less Inventory

Builders had 251,000 houses on the market last month, the fewest since November 1982. It would take 7.5 months to sell all homes at the current sales pace, the same as in August.

Sales of new homes, which make up less than 10 percent of the market, are tabulated when a contract is signed and may therefore begin cooling weeks before the Nov. 30 deadline by which buyers must close a transaction to be eligible for the tax credit.

Sales of existing homes, which account for the remainder, are counted when sales close and thus reflect contracts signed a month or two earlier.

Previously owned homes in September sold at a 5.57 million pace, up a record 9.4 percent from the prior month, the National Association of Realtors reported last week in Washington. The level of sales was the highest in more than two years.

Lobbying for Extension

The Realtors group and the National Association of Home Builders are lobbying to extend the first-time homebuyers credit on concern demand will wane after it lapses. Lawmakers have joined in.

Senate leaders this week were negotiating to extend the tax credit through 2010, Senator Bill Nelson of Florida said. We should be able to extend that later this week, Nelson, a Democrat, told reporters.

Housing-related companies are still trying to recover. Caterpillar Inc., the worlds largest maker of bulldozers and excavators, last week said its third-quarter earnings fell by more than half from a year earlier while it boosted its full year forecast.

We believe the third quarter marked the low point for Caterpillar sales and revenues in what has been the toughest recession since the 1930s, Chief Executive Officer Jim Owens said in a statement. We are seeing encouraging signs that indicate a recovery may be under way.

Source: Bloomberg News

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Short Sale Plan Will Help Phoenix Families

admin — Wed, 21 Oct 2009 22:37:29 +0000

Short Sale Plan Will Help Phoenix AZ Families

A major joint venture for Short Sales was announced late Tuesday (Oct.20). RE/MAX International issued this press release: Contact The Cutty Group of Re/Max Desert Showcase For More Info on This Short Sale Program 623-252-5591

Real Estate Leaders Unite to Reduce Foreclosures New Short Sale Strategy Designed to Help Homeowners Avoid Foreclosure

RE/MAX International of Denver, Colorado and HEART Financial Services of Northbrook, Illinois have agreed to work together to help homeowners avoid foreclosure. The real estate franchisor and loan modification leaders have created a unique pre-foreclosure or “Short Sale” strategy that will make it easier for families to sell their homes and avoid the trauma of a foreclosure.

“It’s unfortunate that the Short Sale process has been so difficult to navigate in this marketplace,” says Dave Liniger, Chairman and Co-Founder of RE/MAX International. “We’ve been working hard to promote streamlined Short Sales to provide both significant benefits to lenders, and a welcomed opportunity for homeowners to get a fresh start.”

At-risk homeowners who do not qualify for a loan modification will now have a viable alternative, and will not be forced into foreclosure. Lenders that offer loan modifications to their at-risk borrowers will be invited to participate in this new Short Sale program.

Trained customer service representatives will provide detailed Short Sale information to all homeowners who cannot obtain a loan modification or do not wish to retain their property. If a homeowner believes that a Short Sale might be appropriate, they are directed to a secure Internet website where they can obtain more information, and select a real estate agent in their community who has received comprehensive training on the Short Sale process. RE/MAX has designed this unique online database to assist homeowners with Short Sale information and easy agent referrals, and will use the closing management services Integrated Asset Services of Denver, Colorado.

“It’s been our experience that many homeowners aren’t even aware that Short Sales are a reasonable alternative to foreclosure,” says Jerry Alt, President and Chief Executive Officer of HEART Financial Services. “Each month we speak with thousands of homeowners who can’t qualify for or don’t want a loan modification. For the most part, when we refer them back to the servicer for a potential Short Sale, we lose the opportunity to help the borrower while we have them on the phone. Now, we can offer these homeowners some hope and a more efficient process to list and sell their home.”

The number of homeowners who could rely upon a Short Sale may be in the millions. According to realtytrac.com, July, August and September had the highest foreclosure numbers on record and some analysts say there is a “shadow” inventory of foreclosed properties as high as 7 million, which could start hitting the market in a few months. Out of all the applications reviewed for a loan modification, less than 50% are successful. And a high percentage of successful loan modifications eventually re-default.

“We have been talking to numerous industry leaders, legislators and Administration officials trying to draw attention to the Short Sale situation,” says Liniger. “It’s just not possible for the housing market to recover fully until the inventory of foreclosed properties is significantly reduced, and Short Sales offers one practical way to help do this.”

There are over 11,000 real estate agents in the United States who have received the Certified Distressed Property Expert (CDPE) professional designation. Over 60% of those are affiliated with RE/MAX. In addition, the National Association of REALTORS also offers a similar Short Sale, Foreclosure and REO (SFR) designation. Agents who have received special Short Sale training like these designations could be selected to participate in this new Short Sale program.

Short Sales can occur when a lender agrees to accept a sales price for a home that is lower than what the homeowner owes on the mortgage. The Short Sale transaction is more complicated than the average real estate sale and consumers are urged to deal with agents who have specific training in the process.

Contact The Cutty Group of Re/Max Desert Showcase For More Info on This Short Sale Program 623-252-5591

HEART Financial Services will begin offering the newly developed Short Sale process to the loan modification applicants of their clients within the next few weeks.

# # #
About HEART Financial Services
HEART Financial Services, LLC is headquartered in Northbrook, Illinois and has over 200 professional customer service representatives and loss mitigation negotiators dedicated to assisting mortgage borrowers. Since mid-2008 HEART Financial has worked with over 800,000 consumer mortgage borrowers and has achieved closing rates in excess of 40%. No fees are charged to the consumer for working out a suitable plan for home retention. As one of the largest loan modification facilitators in the country, HEART Financial has a proven record of reaching the problematic “no contact” borrowers before a decision to foreclose has been made and achieves higher resolution rates than industry averages. HEART Financial is dedicated to developing successful outreach programs for our servicing clients to engage their customers in a meaningful manner to work out a suitable solution to avoid foreclosure.

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Phoenix Real Estate Deals. Phoenix Real Estate Benefits

admin — Mon, 12 Oct 2009 17:22:42 +0000

Some Valley residents benefit from housing crisis

Some Valley residents actually benefited from the housing crisis. Here are some of their stories:

First-time owners take advantage of tax credit

Christina and Chad Haller said the First-Time Homebuyers Tax Credit motivated them to buy their first home sooner than they had planned.

“We probably would’ve waited a year if it weren’t for the tax credit,” Christina said.

More than 38,000 Arizonans have taken advantage of the tax credit, which expires Nov. 31, according to the IRS. It covers 10 percent of the home’s purchase price, up to $8,000.

The Hallers closed on a 1,200-foot, three-bedroom, two-bathroom home in Gilbert in June. After spending about six weeks repainting most of the home and fixing up a few things, such as adding new stainless steel appliances to the kitchen, they moved in the first week of August.

“We saw a million houses, so I was just happy to finally find one that my husband and I were happy with,” said Christina Haller, whose home cost $132,500. “We really wanted to live in Tempe, but we were on a budget, and it was a cute house that we could afford.”

Former renter finds $75,000 deal in Buckeye

Buckeye newcomer Geanna Gute had never imagined homeownership would be so affordable.

Gute, a bill collector who had been a longtime renter, purchased a pristine 1,860-square-foot bank-owned home, built in 2005, for $75,000.

It had been appraised at $200,000 in October 2008.

Like many Arizona home buyers in 2009, she took advantage of an alternative federal loan-guarantee program through the U. S. Department of Agriculture that does not require a down payment.

Gute, 58, said her monthly payment is $650, and the only thing she had to pay for up front was a reshoot of some inspection-related photos.

“I had to pay $60 – that’s all I paid,” she said.

The USDA-guarantee program is similar to the FHA’s in that private banks still provide the loans, and the government promises to pay off the loan if the borrower defaults.

Despite the lack of a required down payment, USDA loans historically have the lowest default rate among government-insured loans.

The lesser-known federal-guarantee program has provided a shot in the arm to outlying areas of the Valley, where an oversupply of speculative homes and abundance of foreclosures have lowered home values significantly. According to the USDA, it has guaranteed more than $400 million in home loans this year in Arizona.

Although the loans are restricted to “rural areas,” the definition includes Buckeye, Queen Creek and most of suburban Pinal County.

Phoenix fireman buys bank-owned residence

Phoenix firefighter Korey Young said he wasn’t cut out for living in an apartment.

Because of the foreclosure crisis, he doesn’t have to.

“I need space,” said Young. “I make a lot of noise. I like to ride dirt bikes. I always have a bunch of friends over.”

The 24-year-old Phoenix resident purchased one of more than 28,000 Valley bank-owned houses that sold in the first eight months of 2009.

Young paid about $195,000 in July for the north-central Phoenix home
, which had been gutted and came with no major appliances. Fortunately for Young, another prospective buyer had backed out of the deal after repainting the interior and laying new carpet.

Still, Young said his home, like most of the bank-owned homes he saw, is a fixer-upper. Buyers who don’t like weekend trips to Home Depot probably should look elsewhere.

“There’s always a project going on here,” he said.

Source http://www.azcentral.com/business/realestate/articles/2009/10/09/20091009biz-vhv-bargains1011.html

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Glendale AZ. Video Tour Glendale AZ

admin — Mon, 12 Oct 2009 16:52:51 +0000

Glendale AZ. Video Tour Glendale AZ

Thinking of living in Glendale AZ? This is a great overview video

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