The valley used to be the place to retire — at least part of the [...]]]>

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

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 [...]]]>

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

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 [...]]]>

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

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 [...]]]> 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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The chief executive officer of a global sports management corporation, an orthodontist, a radiologist and a Canadian homebuilder are among the buyers and sellers in this week’s priciest home sales. $3,950,000.

Paradise Valley Properties LLC, a Florida limited-liability company whose managing members are Thomas J. Gast and [...]]]> The Phoenix Valley’s priciest home sales In February 2010

The chief executive officer of a global sports management corporation, an orthodontist, a radiologist and a Canadian homebuilder are among the buyers and sellers in this week’s priciest home sales. $3,950,000.

Paradise Valley Properties LLC, a Florida limited-liability company whose managing members are Thomas J. Gast and Elizabeth F. Gast, purchased a seven-bedroom, 10-bath, 13,206-square-foot home along the western edge of the Camelback Golf Course in Paradise Valley. The home was sold by Alan L. Nero and Lisa M. Johnson as trustees of the RJLJ Declaration of Trust. Alan Nero was named chairman and CEO of CSMG Sports, a global sports management corporation in Chicago in 2000.

$3,239,000.

Gray U.S. Investments LP of Calgary, Alberta, paid cash for a 6,429-square-foot home with pool originally built in 2007 at the Silverleaf Club in Scottsdale. The home was sold by John J. Harris and his wife, Stephanie.

$2,751,000.

William M. Cannon, as trustee of the William M. Cannon Trust, paid cash for a five-bedroom, 6 ½-bath, 7,693-square-foot property north of Mummy Mountain in Paradise Valley. William Cannon is a personal-injury attorney with Cannon & Dunphy in Brookfield, Wis. The home was sold by A. Paul Serrano as sole member of Sapphire Home LLC.

$2,500,000.

Nataliya V. Plyushcheva and her husband, Imtiaz Ahmed, bought a six-bedroom, 6 ½-bath, 7,980-square-foot home at Mockingbird Square north of the Paradise Valley Country Club. Plyushcheva is a radiologist practicing in the West Valley. The home was sold by Paul Evans and Nicole McCurry-Evans and Scott and Julie Van Drunen.

$2,300,000.

Cal Wenzel, his wife, Edith, and Sharlene G. Rickett, all from Calgary, Alberta, paid cash for a five-bedroom, six-bath, 8,200-square-foot home originally built in 2007 west of the Eagle Mountain Golf Club in Scottsdale. Cal Wenzel is president of Shane Homes Ltd. and Creations by Shane Homes in Calgary, Alberta. Sharlene Rickett is vice president of corporate relations for the residential homebuilder. The home was sold by SAKK Investments LLC, a Nevada limited-liability company in Scottsdale.

Researched by John McLean and the Information Market.

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. [...]]]> 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.

National and regional real estate analysts and economists gather Thursday for Urban Land Arizona’s annual conference to discuss prospects for metropolitan Phoenix’s housing market its possible recovery.

Important issues to be addressed include the region’s foreclosure problem, the future of home building, financing issues and population growth. Last year, the consensus [...]]]> Arizona Housing Meeting

National and regional real estate analysts and economists gather Thursday for Urban Land Arizona’s annual conference to discuss prospects for metropolitan Phoenix’s housing market its possible recovery.

Important issues to be addressed include the region’s foreclosure problem, the future of home building, financing issues and population growth.
Last year, the consensus from the conference was that the metropolitan Phoenix’s housing market wouldn’t recover until 2012.That forecast shocked many in the audience hoping for a faster turnaround, but has proved to be accurate so far.

This year, the Urban Land conference will also focus on recent government actions aimed at real estate and the capital markets.

Urban Land’s annual forecast event has become a must-attend for people involved in Arizona real estate because of the expertise of the speakers and their frank projections.

Economist Bret Wilkerson of Boston-based Property and Portfolio Research and Arizona Economist Elliott Pollack will kick off this year’s event with their outlooks for metro Phoenix and the nation.  by Catherine Reagor

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 [...]]]> 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.

Free Phoenix MLS Search
Features Full  and FREE access to ALL Phoenix  MLS Metro Area Listings of all homes available in: Phoenix, Scottsdale, Paradise Valley, Cave Creek, Carefree, Sun City, Peoria, Glendale, Surprise, Buckeye, Avondale, Tempe, Chandler, and Mesa, Arizona. Find REO’s, Short Sales,Bank Owned, Foreclosures! The Cutty Group!

A new addition to the federal housing plan could help more low-income families buy homes and more developers build affordable rentals.

Earlier this week, the Obama administration announced a plan to aid state and local housing-finance agencies, which provide home loans to fledgling buyers and financing for rental properties for people [...]]]> U.S. to boost low-income housing aid

A new addition to the federal housing plan could help more low-income families buy homes and more developers build affordable rentals.

Earlier this week, the Obama administration announced a plan to aid state and local housing-finance agencies, which provide home loans to fledgling buyers and financing for rental properties for people making below an area’s median income.

The Treasury Department and lenders Fannie Mae and Freddie Mac will purchase more housing bonds issued by local finance agencies and refinance existing bonds to lower rates. The goal is to allow state, city and county housing-finance agencies to lend more money in an effort to help the housing market.

Typically, local housing-finance authorities issue tax-exempt bonds to finance their projects and loan programs. But over the past few months, the Arizona Housing Finance Authority and the state’s industrial-development authorities haven’t been able to sell bonds because of uncertain conditions in financial markets, said Sheila Harris, senior vice president with Phoenix consulting firm Molera Alvarez and former director of the Arizona Housing Department.

This year, U.S. housing-finance authorities have been able to issue just $4 billion in tax-exempt bonds, according to the National Council of State Housing Agencies. Last year, the total was $10 billion.

The Arizona Housing Finance Authority will discuss the new program at a board meeting Thursday.

State agencies must apply for the program. All bonds in the new program must be issued by the end of 2009.

The Obama administration predicts the new bond program will provide several hundred thousand new mortgages to first-time home buyers and help with the development of tens of thousands of affordable rental homes.

Apartment rents

The average rent for a Valley apartment slipped again, according to new data from research firm RealFacts. A typical Phoenix-area apartment now costs $761 a month to rent, down almost 1 percent from the second quarter of this year. The area’s apartment-vacancy rate is at 12.8 percent, down 2.5 percent from last year.

Key real-estate event

On Oct. 30, Sen. John McCain, R-Ariz., will speak at the Urban Land Institute’s town hall. The event starts at 3:30 p.m. at the Arizona Biltmore Resort and Spa. Details: arizona.uli.org.

Free Phoenix MLS Search
Features Full  and FREE access to ALL Phoenix  MLS Metro Area Listings of all homes available in: Phoenix, Scottsdale, Paradise Valley, Cave Creek, Carefree, Sun City, Peoria, Glendale, Surprise, Buckeye, Avondale, Tempe, Chandler, and Mesa, Arizona. Find REO’s, Short Sales,Bank Owned, Foreclosures! The Cutty Group!

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

Free Phoenix MLS Search Features Full  and FREE access to ALL Phoenix  MLS Metro Area Listings of all homes available in: Phoenix, Scottsdale, Paradise Valley, Cave Creek, Carefree, Sun [...]]]> Glendale AZ. Video Tour Glendale AZ

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

Free Phoenix MLS Search
Features Full  and FREE access to ALL Phoenix  MLS Metro Area Listings of all homes available in: Phoenix, Scottsdale, Paradise Valley, Cave Creek, Carefree, Sun City, Peoria, Glendale, Surprise, Buckeye, Avondale, Tempe, Chandler, and Mesa, Arizona. Find REO’s, Short Sales,Bank Owned, Foreclosures! The Cutty Group!