Homes Arizona provides real estate services in Phoenix, Arizona and surrounding areas including the communities of East Mesa , North Mesa , Gilbert , Chandler , Ahwatukee, Apache Junction, Gold Canyon , Queen Creek , Tempe , and Adult Communities, Scottsdale, new home construction throughout Maricopa and Pinal County. My website offers you information on the Phoenix Valley schools as well as the ability to search all homes that are for sale in the Phoenix, Arizona area. These links only show you a sampling of the available homes. For a complete list of ALL communities in ALL towns, click here: SEARCH THE MLS RIGHT HERE!

 What does RESPA mean to the buyer and the seller? I've included an excerpt from the Arizona Association of Realtors - www.aaronline.com which spells out clearly how important this Act is. I've only included a portion of Section 9 which I believe to be self-explanatory. Enforcement actions are on the increase. If a seller "requires" the buyer to use their title company, then according to RESPA, seller can be required to pay for buyer's ALTA (lender's) policy. Just one tip of many I will share as I continue to post on my blog.

What does Section 9 of RESPA prohibit?
Section 9 of RESPA prohibits a seller from requiring the buyer to buy title insurance from a specific title insurance company. “Requiring” means the buyer must purchase title insurance or pay a charge attributable to the title insurance from a particular title insurance company in order to purchase the property.

Is it a RESPA violation if the seller requires the buyer to use a specific title company when the seller is paying for the buyer's title insurance?
HUD has indicated that it “will not enforce Section 9 of RESPA against a seller who selects the title insurance company if the seller is paying for the owner's title insurance policy, and does not require the buyer to use the title insurance company for the simultaneously issued lender's policy.” However, HUD has indicated that it would take action “in situations where a seller required a buyer to pay the seller an amount towards closing costs and the seller used a portion of the buyer's paid closing costs for the owner's title insurance without providing the buyer with a choice of that title company.” (See, www.aaronline.com/documents/respa_enforc.aspx).

Today, we have 54,200 active listings and 7,497 PENDING.

Thinking about relocating to Mesa, Arizona or the Phoenix Valley? Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: This email address is being protected from spam bots, you need Javascript enabled to view it . OR visit one of my websites: HomesAzRE.com, MoveToSunnyAz, or AzLadyInRed.com,for photos of models, floorplans, new construction, resale and more.

As a buyer, have you ever gone into a new home community to "look" at their models? Did you happen to notice the sign on the door that read something like this: "If you come into this community without a Realtor, you will not be able to have Realtor representation," "Or if you don't bring your Realtor the first time....", or "Your Realtor must accompany you....." Bottom line, the builder is trying to warn you that if you come into the models without a Realtor, you will be on your own - without personal representation! 

In the Phoenix Valley, there are so many new home builders with builder agents ready to assist you with your purchase, that it doesn't occur to many homebuyers - that THEY need a professional Realtor to help them with the transaction and purchase of a brand new home. I've listed just "some" of the reasons I believe that a buyer needs a professional Realtor to help them purchase a resale or new home, or sell their home.

For instance:

1.  Buyers, are you aware that the agent sitting at the new home site works for and represents the builder? They do not represent you as the buyer. So that means, if there are any misunderstandings or concerns on your part, that you - alone - must work it out - somehow - with the builder. I have sat in many new home sales transactions where the builder's agent will say: "I do not represent you - I represent the builder."  It's a disclosure to you, the buyer.

2.  Are you aware that the builder pays the agent? It has no reflection on what you pay for the home - that commission is paid by the seller (builder) to the buyer (your agent) agent.

3.  Are you aware that if you walk into a new subdivision to just check out the models, that you will no longer be able to have buyer representation? Many times, without thought, the looker/buyer signs a little card with their name and address. The builder then keeps track of who has been in their homes. That prevents you from bringing in a Realtor to represent you.

4.  Are you familiar with all of the builders, their customary practice, their customer service, the reputation of the builder? Do you think this might be important to you, the buyer?

5.  Are you aware, as a buyer, that the builder has their "own" contract? It is not the one that has been sanctioned and is used by the Arizona Association of Realtors and is used always or almost always, on a resale contract. Many builder contracts (most) are slanted to favor the builder - not the buyer.

6.  Do you know what a Public Report is - and why it might be important to you to "read" before committing to build a home with that builder in that area?

7.  Have you ever read/looked at the CC&R's before you sign a contract.....do you think it might be important to know what the rules are for that community?

8.  How about your earnest deposit? Colorized fee? Are they refundable to you if you don't qualify, or if things change drastically before you're ready to move in.

9.  Does the builder accept a contingency - meaning that they are willing to let you start building a home while you are in the process of selling your home? What if your home that you are selling does not sell, or if it doesn't close as planned? What are your options?

10.  Are you financing through the builder - or your own lender - and do you shop for your loan instead of just accepting the builder's incentives?

Bottom line: if you are not a professional Realtor, and familiar with the basics of building a new home, your rights, your remedies - never mind the recommendations made by a Realtor as to the areas that could be affected by potential freeways, potential growth, etc., then my suggestion: find yourself a professional who you feel comfortable with, trust, and one that knows the builders, the areas, and will be of assistance to you in deciding which floorplan and why, how many bedrooms, garage size, lot size and location, etc.

The market is turning. Don't wait too long because many of the builders are offering great incentives to buy their homes. Granite countertops, appliances, landscaping, and huge discounts for their inventory homes. Call me.......I'll be happy to help you find your next home - and list the one you live in, marketing it all over the internet as well as the MLS.

Today, May 13, we have 54,329 active listings (many of these are not in Maricopa or Pinal County), as well as 7,320 currently pending - or under contract. Every day, the active listings are going down, and the pending are going up. What does this mean for you? Probably never a better time than now to buy a home or a rental! Many experts believe that it will be a long time - if ever - that our market will be any better for a buyer. Interest rates are low, there are many availabile listings, and the sellers typically will negotiate! New homes are available with many builders offering incentives of granite, appliance, yard landscaping and great loans........don't be one of those who waits to see "how low it will go" before you make your move. That's when everyone else will be making it as well, and the bargains will have disappeared.

Thinking about relocating to Mesa, Arizona or the Phoenix Valley? Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: This email address is being protected from spam bots, you need Javascript enabled to view it . OR visit one of my websites: HomesAzRE.com, MoveToSunnyAz, or AzLadyInRed.com, for photos of models, floorplans, new construction, resale and more.

Twenty Terms You Must Know and Understand Before You Sign Off On Your Mortgage!

Buying a home is a major achievement in most everyone’s life. Pride of ownership, tax breaks and equity are just a few of the many benefits you’ll enjoy with your new home. Your home purchase may also be one of the largest you will ever make.

During the emotional excitement of buying a home, you may encounter terms with which you are unfamiliar. For some, it can be bit embarrassing to ask what they consider too many questions. Others may make a note of their questions but simply forget to revisit those points. To ensure that you have complete confidence during your home loan process, invest a moment to read this report and become familiar with the concepts and terms you’ll encounter. Knowledge is power and the more you know the more successful will be your decisions and the more soundly will you sleep at night having made them.

Adjustable Rate Mortgage (ARM)
Also referred to as a Variable Rate Mortgage. A mortgage in which the interest rate is adjusted periodically based on a pre-selected index.

Annual Percentage Rate (APR)
An interest rate that reflects the cost of a mortgage as a yearly rate. This rate takes into account any points and fees and is based on the loan going to it’s full-term.

Assumption
An agreement between buyer and seller in which the buyer assumes responsibility for the seller’s existing mortgage. This agreement usually saves the buyer money because closing costs and the current interest rate, possibly higher, do not apply.

Buy-down
A method of lowering the buyer’s monthly payment for a short period of time. The lender or homebuilder subsidizes the mortgage by lowering the interest rate for the first few years of a loan.

Caps
A limit in the amount the interest rate or monthly payments for an adjustable rate mortgage that may change.

Closing
Also referred to as settlement. The meeting at the conclusion of a real estate sale in which the property and funds are exchanged between the two parties involved.

Debt-to-Income Ratio
The ratio, expressed as a percentage, which results from dividing a borrower’s monthly payment obligation on long-term debts by the borrower’s gross monthly income.

Discount Points
Prepaid interest assessed at closing by the lender. A point is equal to 1 percent of the loan amount.

Down Payment
Cash paid by the buyer at closing that makes up the difference between purchase price and the mortgage amount.

Earnest Money
Money given by a buyer to a seller as a deposit to commit the buyer to the future transaction. Earnest money is subtracted from closing costs.

Equity
The value an owner has in real estate over and above the obligation against the property. Equity is fair market value minus the current indebtedness.

Escrow
Funds given to a third party which will be held to cover payments such as tax or insurance payments and earnest money deposits.

Fixed Rate Mortgage
A mortgage in which the interest rate remains constant throughout the life of the loan.

Loan-to-Value Ratio
The ratio between the amount of the mortgage loan and the appraised value of the property.

Market Value
The price that a property could possibly bring in the marketplace.

Mortgage Insurance
Insurance that protects lenders against loss if a borrower defaults. This is required when the loan-to-value ratio is greater than 80 percent.

Origination Fee
A fee charged by a lender for processing a loan application; usually computed as a percentage of the loan.

PITI
Refers to Principal, Interest, Taxes, and Insurance.

Underwriting
The decision-making process of granting a loan to a potential homebuyer.

Variable Rate Mortgage
Also referred to as Adjustable Rate Mortgage. A mortgage in which the interest rate is adjusted periodically based on a pre-selected index.