Award Realty News

Arizona new homes sales surge across the West, up 23%

The United States Census indicated sales across the west including Arizona
new homes sales in the United States having risen 23%.

The report includes sales figures from 13 western states including Arizona.

Nationally, new homes sales increased by 11 percent.

Real estate agents in Arizona are saying their clients prefer  new homes as opposed to resale houses.

One agent has said,”The foreclosure and short sale process is too long,” said .  “I’m taking my clients to the new builds because it takes less time and the price point is about the same.”

Another reason for the spike in Arizona new homes sales is the price.  One Valley real estate agent  says bank owned homes used to cost far less than new homes.  Now,  the price is about the same.

Arizona new homes are just a little bit more now than the bank owned homes, but with (new homes) you get peace of mind with built-in warranties whereas with a bank owned property you buy it as is.”

According to the report, 103,000 new homes were sold in the West during July, an increase of 19,000 over May.

To search Arizona new homes simply click the link.

Sun City Arizona Voted Best Places to Live

“Sun City Arizona Voted Best Places to Live”, says US News and World Report.

Among the reason’s Sun City Arizona earned this coveted award are things like low crime rate, and comprehensive health care.

It has an estimated population of around 39,000.

Some of Sun City Arizona’s cultural attractions are it’s Music Society has a six-concert series November through April.

Sun City homes for sale are on the rise and the city offers several different communities to chose from including: Sun City West, Sun City Festival, and Sun City Grand.

Around these Sun City homes for sale are its wonderful 8 golf courses with well-organized recreational facilities.

A fun fact for Sun City is As soon as you move in, a city social director will arrange a golfing excursion or arts and crafts lesson with your neighbors!

To view Sun City homes for sale, simply click the link!

Strong Gain in Existing Home Sale in Arizona

Strong Gain in Existing Home Sales in Arizona

“For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS®. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.

Largest Gain in a Decade

The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.

“Because price-to-income ratios have fallen below historical trends, there are more all-cash offers. In some recovering markets like San Diego, Las Vegas, Phoenix, and Orlando, the demand for foreclosed and lower-priced homes has spiked, and a lack of inventory is becoming a common complaint.” …….

Loan Modification Arizona News – Loan Repair Today

To get help with a Loan Modification today please email us by clicking the link Loan Modification
or Call us at: 1-800-895-8177

Arizona Real Estate Boom Trend

Arizona Real Estate is on the rise for investors.

Recently it was reported that investors are coming to Arizona to purchse foreclosed homes and either sell, rent, or lease the homes back to the people or lost their home to foreclosure.

Some of the comments I’ve heard are “wow, I’m sure the people who are renting the same home they lost will take really good care of it”. I think the sarcasm is a little premature considering most people once they do something wrong the first time they normally won’t do it again!

If you would like to view Arizona Foreclosures for sale simply click the link.

Arizona Loan Modification Law Update

Arizona lawmakers are cracking down on home loan modifiers who promise results for big bucks, but deliver nothing in return.

Governor Jan Brewer just signed into law legislation requiring loan modification officers be licensed and have criminal background checks beginning July 2010.

The new law comes as a relief to homeowners like Jillian Strode.

Strode recently had her loan modified, but worried about being scammed by a home loan modification company.

“I had to be careful who I picked,” she said. “It was scary. I mean this is the American dream and I didn’t want to lose my home.”

Heckathorn turned to Steve Taplin, CEO of American Loan Restructuring for help.

Taplin says he sees a lot of scamming in the industry and welcomes the new law.

“It will force them to have background checks, it will force them to be held to a higher standard and it should really help push out a lot of these people who are taking advantage of people out there,” Taplin said.

He suggests homeowners look for companies that are willing to put the money paid out in escrow until the loan modification is approved. That way homeowners know they won’t be scammed.

“We don’t touch the money until we’ve gotten results,” said Taplin.

Under the new law, home loan modifiers will also undergo 20 hours of education on lending laws.

For more information on Loan Modifications in Arizona simply click the link

Homes for Sale in Arizona using IPhone

Shopping for a home for sale in Arizona  just got a little easier thanks to Apple.

Just imagine you are driving down the street, and you see a for sale sign in front of what you think could be your dream home. Your write down the number and can’t wait to call the broker.

If you have an iPhone, you can get the information on the spot.

Zillow.com released a free iPhone app last month, enabling consumers to get the low-down on more than 88 million homes – and not just the ones for sale.

The app is GPS-powered so the map follows you as you stroll, with price estimates popping up along the way. Pass a sale sign and you can access pricing, number of bedroom and baths, square footage and other info.

“House-hunting is, inherently, a mobile experience,” said Zillow’s CEO Rich Barton in announcing the launch.

This will add a whole other layer to that Sunday afternoon perambulation.

Click the link to search the Arizona MLS online

Arizona Foreclosure Law September 2009

Arizona Foreclosure Changing Law as of September 2009

Arizona’s laws that prohibit deficiencies are found in Arizona Revised Statutes Sections 33-814.G and 33-729.A. These types of laws are also called “anti-deficiency legislation.”

ARS § 33-729.A states, “. . . if a mortgage is given to secure the payment of the balance of the purchase price, or to secure a loan to pay all or part of the purchase price, of a parcel of real property of two and one-half acres or less which is limited to and utilized for either a single one-family or single two-family dwelling, the lien of judgment in an action to foreclose such mortgage shall not extend to any other property of the judgment debtor, nor may general execution be issued against the judgment debtor to enforce such judgment, and if the proceeds of the mortgaged real property sold under special execution are insufficient to satisfy the judgment, the judgment may not otherwise be satisfied out of other property of the judgment debtor, notwithstanding any agreement to the contrary.

Old Law

ARS § 33-814.G before September 30, 2009, states, “If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or a single two-family dwelling is sold pursuant to the trustee’s power of sale, no action may be maintained to recover any difference between the amount obtained by sale and the amount of the indebtedness and any interest, costs and expenses.”

New Law

ARS § 33-814.G after September 30, 2009, states, “If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or a single two-family dwelling BY THE TRUSTOR UNDER THE DEED OF TRUST FOR AT LEAST SIX CONSECUTIVE MONTHS AND FOR WHICH A CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED is sold pursuant to the trustee’s power of sale, no action may be maintained to recover any difference between the amount obtained by sale and the amount of the indebtedness and any interest, costs and expenses. THE TRUSTOR IS RESPONSIBLE FOR DEMONSTRATING THAT THE TRUST PROPERTY WAS USED BY THE TRUSTOR AS A ONE-FAMILY OR A SINGLE TWO-FAMILY DWELLING FOR AT LEAST SIX CONSECUTIVE MONTHS.

Click to view  Arizona Foreclosure.

Arizona Relocation Due to Arizona Real Estate

We found this interesting news report showing an increase in the real estate market in Arizona.Lots of Canadians are coming down to take advantage of the Real Estate in Arizona.

View our Arizona MLSListing Page.

Arizona Neighborhood Stabilization Program for Arizona Homes and Arizona Foreclosures

Neighborhood Stabilization Program (NSP) Information

On July 30, 2008, President Bush signed into law the Housing and Economic Recovery Act of 2008 (HERA) to address the severe housing crisis. Title III of the Act appropriates $3.92 billion of grant funds under the Neighborhood Stabilization Program (NSP) for states and local governments to purchase and redevelop abandoned or foreclosed properties. The HERA directed the United States Department of Housing and Urban Development (HUD) and the city of Phoenix to target funding to areas with the greatest needs based on the extent of foreclosures, sub-prime mortgages, and mortgage delinquencies and defaults.

As funding recipients, city, county and state agencies must develop their own programs and funding priorities. However, they must use at least 25 percent of the funds appropriated for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of the area median income. In addition, all activities funded by NSP must benefit low- and moderate-income persons whose income does not exceed 120 percent of area median income.

The city of Phoenix has kicked off their first program, “Homeownership Assistance” assisting buyers of foreclosed homes, townhouses or condominiums with $15,000 in down payment and closing cost assistance. If you are interested in finding out how to purchase a foreclosed property using this program please see the information links in the box below “Buying a Foreclosed Property”. If you are a a real estate professional or a lender or a mortgage broker representing a foreclosed property, please see the information links in the box below “Information for Real Estate Professionals and Lenders”.

source:phoenix.gov

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