Those of us living in the Phoenix Valley, are well aware of the fissures running throughout various parts of our valley. The Arizona Geological Society has just completed updated maps from April showing new fissures in Queen Creek in Maricopa and Pinal County. I've included a link "here" for access to the new map. Queen Creek is located in the southeast valley and straddles both county lines.

For an indepth story on these newly discovered fissures, I've provided a link to the story provided by the East Valley Tribune just today.  An excerpt taken out of the Tribune is quoted below to explain to buyers, sellers, Realtors, just "what" a fissure is.

"Fissures are cracks in the earth caused by groundwater pumping. Geological survey officials call them "serious geological hazards" and say they are found in the valleys of central and south-central Arizona. Pinal County is home to three-quarters of the state's known earth fissures."

Home buyers need to be especially cautious when purchasing in this area. I've included a link to the Arizona Geological Society Fissure site "here" for Mesa, Chandler Heights, and Scottsdale, etc.  Be sure to check it out.

 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).

The Official Website of the Arizona Department of Real Estate has placed on its website a list of builders experiencing financial difficulties. I've provided a link of the pdf file provided by the Department of Real Estate for those purchasing new homes and for their Realtors! - Builders Experiencing Financial Difficulties. As Realtors, it's my duty to be "informed."  This list would is particularly useful for our buyers, this the reason I am posting this on my blog.

This is not just happening in Maricopa County, but throughout our state. Yet another good reason for buyers to use the services of a Realtor instead of going out on their own.

Just this week, I heard of another scam artist taking money from a "renter."  Problem is, the home didn't belong to the scammer, and they advertised the property on Craig's List. Somehow they - the scammer - got a key to the house which was vacant, and rented it to an unsuspecting tenant who paid a $1,500 security/rental deposit. Unbeknownst to them, the real owner shows up surprised that someone is moving in.

People, in Maricopa County, you can check on the Maricipa County Recorder's website to find the REAL owner. So many people out there waiting to grab unearned income by scamming.

Be careful, and check to make sure that the home you are renting is (1) owned by the real owner, and (2) check to see if there are any foreclosures pending on a potential rental. There are many people collecting rent for a home they are not making payments to their lender, and thus, it goes into foreclosure. Be very wary!!!

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, MoveToMesaAz.com or MoveToSunnyAz.com.