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.

Acquiring financing for real estate has gotten tougher, there is no disputing this fact, however it is possible to secure a mortgage for buying a Scottsdale AZ home. If you have a steady source of income and good credit you should have no problem getting a mortgage, but there are a few things to consider so that the financing comes through when you need it.

Many people believe that if they are approved for a loan then they are guaranteed their money at closing, this is not necessarily true. Nothing is guaranteed these days, especially when it comes to money, and it is very important not to affect your credit before closing.

If you have secured a mortgage for a Scottsdale home purchase do not go out and increase your credit card spending, do not go out and buy a new boat or car, do what you can to be conservative and keep your finances the way they were when you were approved, or better. Significant changes to your credit could end up canceling out your loan at closing time. Keep things copacetic financially and the closing should occur without any drama.

Tony Marriott specializes in Scottsdale AZ real estate and Scottsdale homes for sale.  Contact the Tony Marriott team at 888-577-6585 or by email to set up an appointment to learn more about qualifying for a mortgage.

Click here to read a recent article from Realty Times regarding the importance of maintaining your credit until closing.

People love to say that there is more involved with buying a Scottsdale AZ home than just money, and while this is indeed true, you cannot buy a home without it. When thinking about Arizona real estate and purchasing a new home an important first step is securing a mortgage. Before even stepping foot in a lender’s office take a good hard look at your finances.

Examine your household’s income and expenses and determine what you are capable of paying each month. Affordability has been calculated at a mortgage being 30% of your monthly income and a mortgage that swallows up over 35% of your monthly income is seen as unaffordable.

Be prepared when you approach a potential lender and check with at least three different lenders. Not every lender will offer the same deal. It is important to read between the lines and look at other costs involved. There might be closing costs, points to pay down, hidden fees, etc., do some research and read the fine print.

The more traditional mortgages are 15 and 30 year fixed rate loans. A 15 year loan will typically have a lower interest rate and obviously a shorter time to pay off the loan but will involve higher monthly payments. A 30 year fixed loan spreads the payments over twice the number of years and will have a higher interest rate but lower payments. If a traditional loan doesn’t fit the bill there are many creative financing options available, many unique to a particular situation.

While money isn’t everything but it is an important first step to buying a Scottsdale home. Click here to read an article from Yahoo Finance on the basics of mortgages.  For other important tips, contact Tony Marriott, a Scottsdale AZ real estate agent, for more mortgage and Scottsdale homes for sale.  Tony Marriott can be contacted at 602-445-6299 or by email.

It is no secret that it is a buyer’s market out there, great news for Scottsdale AZ buyers, not so great for sellers.  Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way, he might just move on to the next seller, and there are a lot of sellers out there.

There are a few difficult things about being a Scottsdale real estate seller today.  A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not.  What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt.  If trying to sell your Scottsdale AZ home it is a wise idea to have your home inspected before listing your home.  This way you can make the necessary improvements and will avoid being surprised by unexpected requests.  Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Scottsdale Realtor, such as Tony Marriott, is incredibly helpful in maneuvering a tricky Scottsdale area real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time.  The Tony Marriott Team can be contacted at 888-577-6585 or by email for more information.

Buying an Arizona home is a very big financial decision and being prepared is of the utmost importance. Before looking for a new home a potential buyer should pre-qualify for a loan as well as examine his finances to be certain exactly what he can afford. Then finding the ideal house for the ideal price is the next step before acquiring a mortgage.  However before signing those papers, there are a few different types of mortgages to understand the differences between them when choosing the one that best suits your needs.

ARM An ARM is an adjustable rate mortgage, ideal for those who are only planning to be in their house for two to three years. An ARM typically starts at a very low interest rate and keeps it low for the period of time it is set for, typically 2, 3 or 5 years. The danger of this type of loan is that it is an interest only mortgage for the specified time period and then it increases dramatically when the period is up.

FIXED RATE A fixed rate mortgage locks in at a specified interest rate and is usually set for a period of 15 or 30 years. A 15 year loan would have higher payments than a 30 year loan, subsequently you would end up paying less interest over that period, but the lower payment of a 30 year loan could make more sense for your monthly expenses.

Regardless of the type of loan you decide to go with, researching your best option is very important.  Tony Marriott, a Arizona Realtor, can help answer any questions about your mortgage options or can show you Phoenix AZ or Scottsdale AZ real estate for sale.  The Tony Marriott Team can be contacted at 888-577-6585 or by email.

Click here to visit Yahoo Finance and an interesting article on financing real estate.

If you are considering remodeling your Scottsdale AZ home, don’t forget about your outdoor living space.  The exterior of your home contains valuable outdoor space and making certain changes or additions can help ad value and appeal to your real estate investment.

Improvements to the exterior of your Scottsdale home can involve something as simple as new patio furniture and a fire pit, adding a patio or deck, or installing an outdoor oven.  An attractive and usable outdoor area appeals to family living as well as entertaining.

Landscaping additions can involve making an area more green by the addition of low maintenance plants that use less moisture.  Landscape architects are more and more adept at making more sustainable environments.

Other appealing elements can include fountains, swimming pools, solar lights, tennis courts and the like.  Realize that much of what you put into the space that surrounds your Scottsdale area home will enhance its value and catch the eye of a potential buyer. Often an investment to the outside living space gives a better return than interior improvements to your home.

Click here to read a recent article in the Boston Globe about the best way to spend your money on landscaping.

Tony Marriott, a Scottsdale AZ Realtor, can provide other suggestions to add value to your Scottsdale AZ real estate.  Contact the Tony Marriott Team today at 602-445-6299 or by email to search for Scottsdale AZ homes for sale.

Technically a home is only worth what someone is willing to pay for it, when you are trying to price your Scottsdale AZ home to sell you may want more specific guidance however.  Comparative market analysis (CMA) is a standard way to price real estate to sell. 

When doing a CMA to price a home, a broker or individual will examine the current Scottsdale AZ real estate market, evaluating what types of homes are selling for what and averaging the price per square foot.  Of course certain factors can affect the price of a given home, its condition, neighborhood, and upgrades to name a few.

During a hot market, when demand is high and inventory is low, a house could very easily sell for more than its value.  When the market is suffering, demand is low and inventory is high, houses stay on the market longer and often go for below asking price. 

In any market, if you want to sell your home the best bet is to price it fairly and in accordance with current market conditions.  A qualified Scottsdale real estate professional, such as Tony Marriott, can provide the best information for pricing your home appropriately, but in the end it will come down to what someone is willing to pay.  The Tony Marriott Team can be contacted for further information on selling your Scottsdale property at 602-445-6299 or by email.

Investing in today’s Scottsdale AZ real estate is a matter of timing.  Many home buyers across the country are sensing that now is a great time to buy a home, since many factors are keeping purchasing real estate affordable for the time being.  Low mortgage rates, tax incentives and low home prices all add up to one great deal for the person who can afford to buy a Scottsdale home.

The end of last month marked the end of the government’s involvement in purchasing mortgage-securities, and the end of this month marks the finish of the home buyer tax credit extension.  The government has helped to make buying homes incredibly affordable for many people, and when it pulls out of real estate, the deals may not be as sweet.

Likewise, home values have remained low for quite some time, dropping dramatically when Arizona foreclosures began springing up.  Can home prices keep dropping?  In some parts of the country, real estate values appear to have stabilized, and some areas are even showing small increases in home prices.  Home prices are fore-casted to stabilize and stay level for some time before heading upward, but it is likely that they will stop dropping much more.

Timing is everything.  It is pure luck to time anything perfectly, whether you are playing the stock market, roulette, or investing in real estate.  Nothing lasts forever, and that includes low home values.  Now might be the time to start searching for Scottsdale AZ real estate if you have been considering purchasing a new Scottsdale AZ home, before interest rates rise and home values do as well.  Tony Marriott, a Scottsdale area Realtor, can help you with your Scottsdale AZ home for sale search.  The Tony Marriott Team can be contacted at 888-577-6585 or by email.

Click here to read a recent article from Realty Times on the current state of the US real estate market.

The internal debate of whether or not to own a Scottsdale AZ home as opposed to continue to rent a home brings many questions about owning a home to the surface.  Along with the cost and responsibility of owning a Scottsdale home comes the tax benefits and write-offs that can come with home ownership.

Mortgage interest is one positive of buying a Scottsdale home.  The mortgage interest paid each year can be written off at tax time.  Property taxes are also deductible from federal and state income taxes.

If you decide to sell your home you can deduct any home improvement or renovation costs, which in a round-about way makes improving your home a tax deduction, albeit a time-delayed tax deduction.

There are other benefits that come with hard times as well.  If you rent a home chances are you are out of luck should a natural disaster strike.  If you own a home the damage and losses incurred from a tornado, for example, can be written off come tax time.

Home ownership has many benefits.  Today’s Scottsdale AZ real estate market offers low mortgage rates and home values, as well as a variety of different tax incentives to take advantage of.

Click here to read an article from Smart Money about tax breaks that come with home ownership.

To learn more about buying a Scottsdale home, please contact Tony Marriott, a Scottsdale AZ Realtor, to see recent Scottsdale properties for sale.  The Tony Marriott Team can be contacted at 602-445-6299 or by email.

When you decide the time is right to buy a Scottsdale AZ home the first step is finding a lender, but there are a few options to consider.  Banks, mortgage brokers, internet lenders and home builders all offer different types of financing. To choose the type of lender that works best for you it is important to understand the pros and cons of each.

• Banks offer the safety and security of federal regulation.  In addition, if you have been with a particular bank for a while and have a good working relationship there you may qualify for better rates.  The downside of choosing a bank is that they often don’t offer the best rates.
• Mortgage brokers have access to many different money sources and they shop around to secure the best rates.  The downside of a mortgage broker is that they can add whatever fees they wish and often they are on the lender’s side as opposed to the borrower’s side.
• Internet lenders allow you to shop for the most competitive rates available online.  The downside of internet lending is that it is all on you, you are responsible for all of the research involved and there is no personal communication.
• Home builders often offer financing as well, which can be an easy way to get approved for a loan.  The downside of securing a loan from a home builder can be higher rates.

Mortgage rates are below 5% and, if you are employed and can afford it, there could not be a better time to buy a Scottsdale home.  The important thing is to research different lenders and determine what makes sense for you.

Tony Marriott, a Scottsdale AZ real estate agent, can help you find the best lending option when you are buying a Scottsdale home for sale.  Tony Marriott can be contacted toll free at 888-577-6585 or by email for more information or to search for Scottsdale real estate for sale.