If you are relocating to Arizona chances are that one of the biggest questions looming in your mind is whether you should buy or rent a home. Of course only you can make that decision but there are some important factors to weigh. How permanent do you feel this relocation is? Do you have to sell a home before you buy a new Arizona home? Are home prices in the area that you are relocating to stable?

There is no doubt about it that buying a AZ home today is more affordable than ever. Low mortgage rates, higher than normal inventory levels and low home values combine to make an ideal buyers market when it comes to real estate. If you already own a home maybe renting it out until the market stabilizes or improves makes sense. If you can hold on to your current home, cover its mortgage, and qualify to buy a new home, you could be in an ideal situation.

Examine the affordability levels of your new location. Is it less expensive to rent, or would a monthly mortgage payment be the same or less than paying rent? Call Tony Marriott, a Arizona Realtor, and pick his brain. Get to know your new area and weigh the pros and cons of renting vs. buying heavily, after-all, buying Arizona real estate is a big investment.  Tony Marriott can be reached at 602-445-6299 or by email today!

Click here to read a recent article from Bank-rate regarding selling vs. renting a home when relocating.

The home buyer tax credit may be gone but assistance is still out there. Potential first time Phoenix AZ home buyers have options to explore when considering jumping into Arizona real estate. One of the first hurdles when buying a home for the first time is often coming up with a down payment. Even a good saver may have a hard time saving the thousands that can be necessary for a down payment. Luckily there are options for help.

The Department of Housing and Urban Development (HUD) has many assistance and reference programs. HUD’s website has links to Habitat for Humanity, rural housing, and a number of home buyer programs in your area. The HUD website can be a great resource, offering a wealth of information on what is involved in purchasing a home.

The Federal Housing Agency (FHA) is another agency offering information and assistance. The FHA helps buyers buy homes with both low interest rates and a small down payment. Where a standard down payment can be anywhere from 10 to 20%, an FHA loan can require as little as 3.5% down. Standard loan fees can be wrapped into the loan through FHA as well.

If Phoenix Arizona home ownership seems like a pipe dream, it doesn’t have to. If you have a steady source of income then you have mastered one of your biggest hurdles. Contact a Phoenix AZ real estate professional, such as Tony Marriott, today to learn more about purchasing real estate in Arizona.  Tony Marriott can be contacted at 888-577-6585 or by email.

Click here to visit the HUD website.
Click here to learn more about FHA.

When it comes to Arizona real estate there are many bargains out there and if you are a home buyer this is your time to shine. The benefit of being a AZ home buyer today is that you can afford to be picky, after-all you are in charge. You may be looking at five houses, which one is best for you? Which one has the best schools, the best amenities, the best features? Maybe two of them do, you can make offers with both and see which seller will give in more. Today’s home buyer has the position of bargaining power.

Low mortgage rates, which are at historic lows and do not appear to be rising any time soon, high inventory and a continuing stream of foreclosures continue to keep homes prices at reasonable, if not bargain, levels. Low mortgage rates alone help make the cost of buying a home more reasonable than in recent years. High inventories are making home prices competitive and foreclosures, while they may have slowed, are still coming.

The bottom line is that it is possible to find a great AZ real estate bargain today. There are sellers that are motivated out there and if you are a buyer you have an opportunity to stand your ground and try to get the best deal that you can.  Let Tony Marriott, an AZ Realtor, help you find your perfect Arizona home today.  Contact the Tony Marriott Team at 888-577-6585 or by email to search Arizona homes for sale.

Click here to read a recent article from Realty Times regarding the real estate market and the deals that exist.

When it comes to Phoenix AZ real estate price matters. Most real estate professionals, such as Tony Marriott, will aim to price your home at fair market value at the onset and some sellers are on board, others are not. It has been a rough realization for many to acknowledge that it is a buyers market out there. It has been an unknown in recent months as to whether home values will continue to drop, stabilize or improve and every market is different. Regardless of what is going on, if your home isn’t selling then you may want to reduce its price.

Whether your home is seeing a lot of potential Phoenix AZ home buyers or very few, if you haven’t had an offer there could be a few factors. What is your home lacking? Can you fix what your home is lacking? Chances are that if your home is on the market for sale, you are ready to sell it and you are not going to make any large changes to it. The one change you can make is lowering the price. Money matters, more today than ever. If someone sees a home for sale at what they see as a bargain price then they are much more likely to make an offer.

Can you afford to hold on to your home until prices start appreciating again? If so keep your price where it is. If you need to sell then lowering the price could be the key to selling it now.  To talk pricing matters, contact Tony Marriott, a Phoenix AZ Realtor, for more information at 888-577-6585 or email.

Click here to read an article from House Logic on reasons to lower the price of your home.

It is possible to save money at closing. Whether you are buying a new AZ home or refinancing one you already own, closing costs can often make the process more expensive than expected. When refinancing closing costs can actually get in the way of making a change a poor financial decision. What many borrowers may not realize is that cutting some of the fees out at closing can happen.

When researching a new loan check with your current lender first. Chances are, if you are in good standing, they do not want to lose your business and will work with you to keep it. Working with your current lender may avoid a new appraisal, application fees and other charges that come along with the loan process.

Find out what a lender’s fees are well ahead of closing so that you know what to expect. By seeing the fees in writing you may also have an opportunity to do a bit of bargaining. The better your credit rating, the more a lender will want to work with you and secure your business.

Finally, look into wrapping your closing costs, or at least a portion of them into your loan. If it make financial sense it can save you money up front. With mortgage rates currently hanging out below 5% wrapping a couple of thousand dollars into a mortgage does not make too big of an increase on the monthly payment. Shop around and speak with a number of lenders before making your decision.

An Arizona Realtor team that can help you through the closing process is the Tony Marriott Team.  They specialize in Arizona relocation, AZ short sales, notice of trustee sales, Phoenix luxury homes, and Scottsdale real estate.  Tony Marriott can be contacted at 602-445-6299 or by email for more Arizona real estate information.

Click here to read an article from CNN Money regarding cutting costs at closing.

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.

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 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.

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.

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.