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Phoenix Valley and Gold Canyon Real Estate News
May 21 2008

Real Estate Settlement Procedures Act 1974 - RESPA

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Wednesday, 21 May 2008

 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.

 
May 13 2008

Tips for New Home Buyers - Phoenix Valley - If You Want Buyer Representation - Don't Go Alone!

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Tuesday, 13 May 2008

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.

 

 
Apr 22 2008

Tips for Buyers! Thinking of Buying a New Home? Some Builders Experiencing Financial Difficulty!!

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Tuesday, 22 April 2008

Today our active listings totals 55,596, and our pending (or under contract) has gone up to 7,120. Pendings go up each and every day, and listings - so far - stay around the 55,000 mark. More sellers are listing their home, and more buyers have entered the market.

Buying a new home can be a daunting task - especially for a first time new home buyer. Below are some tips for buyers when thinking of purchasing a new home to build:

1.  BE SURE to take your Realtor the FIRST time you visit a community. Best scenario: contact your agent and let them know what you want. They can shop for you and find out from the builder's agent just what they have in terms of incentives, lots, amenities, etc.

2.  Get approved by a GOOD and reputable lender. Though many builders offer incentives which are tied in with using their lender, there are times that their lender charges more than your own lender would.

3. There are also a few builders "known" to be having financial difficulties.  Be as diligent as you can be by checking online and with your Realtor as to who these builders are. Some builders have been known to close down certain communities and not be able to complete their planned swimming pools or other amenities.

NOW is a great time to buy, but make sure you utilize the services of a good Realtor. They will be able to suggest what to include in your home if you build one, as well as to help you through the process. The builder's agent is there to help, but they are the builder's agent - not the buyer's agent.

If you have been 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 any one of my websites: HomesAzRE.comMoveToSunnyAz, or AzLadyInRed, for photos of models, floorplans, new construction, resale and more.

  

 
Apr 11 2008

For Sellers!!! Tips for Selling Your Home Faster - Without Reducing Your Price!

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Friday, 11 April 2008

Sellers, listen up: There are myriad ways for you to sell your home without reducing, reducing, reducing your price. dollarsign

1.  Price it right!!! Yes, as your Realtor, I will do a comparative market analysis for you, meet with you, and make a suggestion as to a price "range."

2.  Neutralize your home! Get rid of the wild colors, and generate more attention from buyers. If you have a "gold" wall, and a potential buyer doesn't like "gold," you will more than likely lose that buyer. Believe it or not, many people don't want to have to repaint the home to suit them - and, in our market, they don't have to. There are many, many choices out there!

3.  Clear out the clutter! Yup, get rid of that unnecessary "stuff" on the counters in the kitchen and in your bathroomsclutter and on furniture. Have a friend, or a stager, stop by and give you an objective opinion.

aa---womanwindow_0002994.  Make sure your home is clean!!! It should smell clean, it should "feel" clean, and "be" clean. Get a housekeeper, get a carpet cleaner, and prepare your home to sell.

5.  Hire a gardener - unless of course, you maintain your yard in pristeen condition! Plant flowers, prune, and get rid of those pesky weeds we have during the spring. Check out your front door, your door mat, and assess with an open mind what buyers see!

6.  One last - important - tip!!! Instead of reducing the price on your home, offer some incentives! The builders do! Why not you? How about a 3-2-1 buy down? or $$$$ to buy down rate, or $$$ towards closing costs and prepaids? If you are a vet, and purchased your home VA, did you know? Your loan is more than likely assumable? AND if you purchased within the last two or three years, it could be well within the reach of a potential buyer?

There's more, trust me, but suffice it to say. If you do plan to sell your home, there are many ways to market!!

Thinking about relocating to Mesa, Arizona or the Phoenix ValleyCall 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,  for photos of models, floorplans, new construction, resale and more.

  

 
Apr 04 2008

Places to Go and Stuff to See in Phoenix, Arizona - Desert Botanical Garden AND Butterfly Exhibit

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Friday, 04 April 2008

Even though I've lived in Arizona most of my life, I have never visited the Desert Botanical Gardens or the Butterfly Exhibit! The Gardens are located at the southeast corner of Phoenix, adjacent to Scottsdale and Tempe. I checked out the information on their website and loaded up my camera, took some water, wore a hat and off we went. I like these little day trips with my husband. Since I am so fond of taking pictures, I love to go where I'm sure to find awesome subject material. I'll share a few here, and then do a slide show of more. I took over 100, so rest assured, you don't have to see them all. I even did a rather small video and will see if I can get that to work. We shall see!

By way of information, the Desert Botanical Garden has activities scattered throughout the year, but during March, April and May, the wildflower exhibit and the Butterfly exhibit are especially popular. The last day is May 11.....checking the website will provide information on admission prices, hours, etc.

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In this picture, you see what appears to be the Julia butterfly enjoying lunch. ;-)

The exhibit hosts hundreds of colorful butterflies fluttering around us as we walked, talked and took pictures. The lush gardens are filled with colorful flowers, water and is enclosed in a screened in area. The Marshall Butterfly Pavilion is a place we can watch butterflies sip nectar from flowers, perch in sunny locations, and land on our shoulders, heads, arms, etc. We were asked to be sure to watch where we walked so we didn't inadvertently step on one.

There are several trails throughout the Garden area with signs describing the plant names, what they were used for, explaining that the fruit was edible, etc.

Included in the Garden are: "plants and people of the Sonoran desert trail", "Sonoran Desert Nature Trail", "Desert Discovery Trail", "Herb Garden", "Desert Wildflower Trail", and much, much more.

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This little guy (the round-tailed ground squirrel) came right up to my husband - unafraid - and I got his photograph. I think he was smiling for his picture! ;-) There are hummingbirds, (we saw a green one), and many other critters in the garden. We also spotted a couple of desert spiny lizards crawling along as well.

As desert dwellers, we interact with our surroundings. Visiting the Garden and traveling along its trails exploring the many uses of desert plants for food, construction, tools, basket-making and more. The art of pounding mesquite beans to make flour was awesome. It really does look like flour.

The wildflowers were really blooming attracting hummingbirds and butterflies.

 

I also found out that we can actually buy wildflower seed at www.plantsofthesouthwest.com and www.wildseedfarms.com. So, if any of you are in the market for a wildflower garden, now you know where to buy the seeds.

Watch for my photo shows..........they'll be up soon. I hope you learned lots of good stuff. ;-)

Pepper 

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, for photos of models, floorplans, new construction, resale and more.

 
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