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Buying A Phoenix AZ Home is An Investment
Buying a Phoenix AZ home is always an investment and choosing the best bang for your buck is important. Whether a home is big or small, choosing the home that will have the best return on your investment is key. Schools, low crime rate, amenities and walk-ability all affect the resale value of a home.
Key elements that attract Phoenix Arizona home buyers to a neighborhood or specific home have historically included the quality of available education, the safety of the area, the parks and open space nearby, and the shops and restaurants in the area. Choosing a home in a walkable location can add value to a home as well. The ability to walk to a restaurant or a store is a huge draw for many people. Not everyone wants to hop in a car to pick up a gallon of milk or meet a friend for lunch.
While it is often hard to find a Phoenix home that has it all, it is important to choose a home that will best fit your lifestyle. A Phoenix AZ Realtor, such as Tony Marriott, can help you find Phoenix real estate that you are looking for, or when it comes time for you to sell, the Tony Marriott Team can help you put your Phoenix house on the market. Contact them today at 602-445-6299 or by email.
Click here to read a recent article from Realty Times regarding the walk-ability factor of buying real estate.
Self-Employed? Be Prepared to Acquire A Mortgage
If you are self-employed and are considering purchasing a Phoenix AZ home it is important to be aware of the changes that have occurred in order to obtain a loan. As everyone is well aware, getting a loan is not nearly as easy as it used to be. Those who are self-employed are having a more difficult time borrowing money and must provide documentation that shows their income. The IRS is being contacted for verification by many lenders and any fraudulent income claims are being dealt with.
In a nutshell, if you are self-employed and applying for a mortgage loan, be prepared.
- Line up all of your documents showing your income before going to apply for a loan.
- Check your credit and do what you can to improve your credit score.
- Pay your bills on time.
- Most importantly, tell the truth, misrepresentation can cost you.
Many lenders, Chase being one, are hiring more loan officers, convinced that the low rates are going to bring many more new loans and refinance loans in the next 18 months or so. Mortgage rates have been decreasing since April, closely tied to the unsteady economy, where wary investors are putting their money in safe investments like Treasury Bonds. As these yields go down interest rate goes down as well.
In other words, the unsteady global economy equal good news for home buyers acquiring a mortgage and home owners who are refinancing their home loans. If you are self-employed and can provide decent and accurate documentation there is no reason you shouldn’t be able to secure a Phoenix home loan. Tony Marriott, a Phoenix AZ Realtor, can give you more information regarding the Phoenix AZ home loan process. For more tips or to view Phoenix AZ real estate, contact Tony Marriott at 888-577-6585 or by email.
Buyers Are in Charge When It Comes To Scottsdale AZ Real Estate
Buyers are in charge when it comes to Scottsdale AZ real estate these days. Sellers don’t like this piece of news, and who can blame them, after-all no one likes to be on the losing end of a game. This means that it is a great time to be a home buyer, even better if you don’t have to sell a piece of Scottsdale real estate to buy a new one. What makes it such a great time to be a buyer? Mortgage rates, home prices and inventory. That’s right, these three items add up to create prime buying power.
Mortgage rates are low, averaging just over 4.5% for a 30 year fixed rate mortgage, and they don’t appear to be heading up any time soon. If you have a job and a steady source of income as well as good credit, there couldn’t be a better time to buy a new home.
Home prices are down. While there are some areas of the United States that appear to have reached bottom, few areas are rising but merely stabilizing. Some parts of the country are still dropping and bargains abound.
Inventory of Scottsdale AZ homes for sale is high. A high inventory means more bargaining power for buyers. There aren’t a lot of home buyers out there and sellers who are lucky enough to receive contracts don’t want a potential home buyer to get away.
In a nutshell, if you want to buy a home contact Tony Marriott, a Scottsdale AZ Real Estate Agent, at 888-577-6585 or by email today!
Click here to read a recent article from CNN Money about being in a buyers market.
Tax Credit Extension Close to Passing
An extension for the tax credit appears close to passing after being approved by the House of Representatives on Tuesday, June 29th. The tax credit is for those who put homes under contract on or before April 30th. The original deadline for closing is today, June 30th. The extension is currently up for approval by the Senate, who will hopefully act fast.
An extension of the tax credit will allow more time to close for those who are currently under contract to purchase a home. This is especially helpful for new homes which may not have met completion by the June 30 deadline. The extension is also helpful for those who are having a difficult time securing a loan, a process that has become much more difficult since the impact of the recession that has crippled so many parts of the United States.
Approval of the tax credit extension displays the government’s willingness to help those who want to close on a new home but need a bit more time to do so. The extension will not, however, help prospective home buyers who have put a home under contract after April 30.
Speak with Tony Marriott, a Phoenix AZ real estate agent, for more information on how this possible tax extension could affect you. The Tony Marriott Team can be reached at 602-445-6299 or by email.
Click here to read a recent article from CNN Money regarding the tax credit expansion.
Lower Costs Make Reverse Mortgages A Possible Lifeline
Reverse mortgages are costing less these days, making them possible lifelines for those trying to find ways to stay in their Arizona homes. What is a reverse mortgage? A reverse mortgage is a loan, or line of credit, available to people aged 62 and older who either do not have an existing mortgage on their homes, or have a great deal of equity built up on their homes.
Reverse mortgages used to be criticized for their large, upfront fees. Recently, however, the fees for reverse mortgages have lowered, making the loan more appealing in the process. Borrowing money has enabled many Arizona home owners to pay their medical fees, monthly expenses and more. In a tough climate, where many of retirement age have lost the bulk of their money, reverse mortgages have allowed people to stay in their homes and sustain their monthly bills and expenses.
At one time an AZ home owner could depend on selling his property, today, with the real estate market on shaky ground, selling a home is more difficult and will most likely yield quite a bit less money than a few years ago. Reverse mortgages have the opportunity to help some people out of a sticky situation.
Tony Marriott, an Arizona Realtor, would be happy to provide you with more information about Arizona real estate or reverse mortgages. Contact Tony Marriott at 602-445-6299 or by email to set up an appointment today!
Click here to learn more about the reverse mortgage.
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