Forbes Magazine named Mesa the 7th safest city in America. Cities with populations of more than 250,000 were ranked by violent crime rates reported by the Federal Bureau of Investigation and traffic fatality rates reported by the National Highway Traffic Safety Administration.
Read the full America's Safest Cities Article in Forbes Magazine.
Thursday, December 22, 2011
Thursday, November 10, 2011
Green Products Buyers Really Want
"Energy efficiency is not on the wish list for home buyers in 2011- it is on the 'must' list," writes Paul Cardis, CEO of Madison, Wis. based AVID ratings.
Which eco-friendly amenities are grabbing buyers' attention?
* High efficiency insulation
* High efficiency windows
* Double and triple glazed windows
* Tankless water heaters
* Water conserving devices
* Products aimed at improving indoor air quality
* Renewable flooring products, such as bamboo and cork
If you are thinking of remodeling in a green way, be sure to take these into account!
Which eco-friendly amenities are grabbing buyers' attention?
* High efficiency insulation
* High efficiency windows
* Double and triple glazed windows
* Tankless water heaters
* Water conserving devices
* Products aimed at improving indoor air quality
* Renewable flooring products, such as bamboo and cork
If you are thinking of remodeling in a green way, be sure to take these into account!
Friday, October 28, 2011
$5,000 Grant for First Time Military Buyers
Active duty personnel, veterans, retired members of the military, and employees of the US Deparmetn of Defence and the Department of Homeland Security are elibible to apply for up to $5,000 in down payment and closing costs in the purchase of a first home.
The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and sayst he grants can be applied to a mortgage from any financial institution.
More info is at www.PentagonFoundation.org. Click on the "Dream Makers" link.
The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and sayst he grants can be applied to a mortgage from any financial institution.
More info is at www.PentagonFoundation.org. Click on the "Dream Makers" link.
Wednesday, September 14, 2011
New Rental Opportunity
Looking for a great option to buy a rental property or two and have instant positive cash flow?
Section 8 tenants are a great opportunity to earn above market rents for properties across the valley!
Call Stacia today to find out more information.
Section 8 tenants are a great opportunity to earn above market rents for properties across the valley!
Call Stacia today to find out more information.
Friday, July 8, 2011
Phoenix area housing market gaining ground, new data shows
Sales jumped in June; median price up
by Catherine Reagor - Jul. 8, 2011 12:00 AM
The Arizona Republic
Frenzied home-sales activity in June proved earlier speculation about a third dip in metro-Phoenix home prices to be untrue.
The median price of an existing home in the region climbed to $118,950 last month, after hovering at a real-estate crash low of $115,000 for six straight months, according to the Information Market, a realty-data company.
The rate of home sales also rose, with a nearly record 9,450 used and new homes sold in Maricopa County in June, the largest monthly number since the end of housing boom in December 2006. And that number doesn't include the more than 1,300 homes sold at foreclosure auctions by lenders.
The home-sales market has been dominated by foreclosure homes, but foreclosures also declined. The region had 2,000 fewer active foreclosure filings in June than May. At the same time, the number of homes for sale was down nearly 10 percent from May.
The combination means a decrease in inventory, as more foreclosure homes are resold and fewer homes come on to the market to replace them. That drop in supply helps trigger an uptick in prices.
Market indicators started to show signs of a recovery in March. The recent numbers are a further confirmation.
"Supply continues to drop while demand is extremely strong," said real-estate analyst Mike Orr, who publishes the online daily "Cromford Report."
He said there are still some market watchers who believe there is a large "shadow inventory" looming over Phoenix. These homes, which aren't in foreclosure but could soon be taken back by lenders, could flood the market and drive prices down again. But his figures show Phoenix's shadow inventory has been steadily falling since November 2010 and won't impact prices.
Who's buying in Valley
Most of the buyers of Valley homes continue to be investors, according to public records.
More than 1,300 foreclosure homes sold in June at what are known as trustee-sale auctions, the Information Market said. Those sales aren't included in the overall tally for metro Phoenix's home sales because public documents record them differently. But those auction sales definitely contribute to a shrinking inventory and higher home prices.
Many auction buyers are paying cash, and bidding wars are typical now as people try to buy the houses on the courthouse steps, hoping either to turn them into rentals or flip them for a quick profit.
The new-home market continues to struggle. Housing analyst RL Brown, who publishes the "Phoenix Housing Market Letter," said the wide disparity between foreclosure resales and new-home prices will continue to hurt the homebuilding market.
Short sales in the Valley climbed almost 50 percent in June from May, according to the Arizona Regional Multiple Listing Service. In these sales, lenders agree to let distressed borrowers sell a home for less than they owe, ensuring the bank gets some money rather than having to foreclose. The increase in these sales signals that more lenders are working with buyers to avoid foreclosure.
Some real-estate agents are finding it more difficult to find homes for clients to buy because listings are steadily falling.
Julie Bieganski, a Phoenix real-estate agent and investor, tracks the drop in listings every day and said it's much tougher to find deals on homes for herself and clients.
On July 1, Orr's data showed 28,827 active listings across metro Phoenix, down 8 percent from June 1 and down 30 percent from July 1, 2010.
The forecast for July
June has traditionally been a strong month for the housing market as more families look for homes before the school year starts. But investors are motivated differently, more by the timing of the short sale or foreclosure auction they are interested in.
Last year, a federal tax credit spurred many home sales, but that incentive is gone. Now, because of tighter lending guidelines, it can be more difficult for traditional buyers who are trying to obtain mortgages.
However, if the sales activity on June 30 is any sign of what is to be expected of July, the Valley's housing market could be in for another strong month. A record 2,216 homes sold on that day, more than any other single day in history.
"I was not surprised the median home price increased. It was something we were expecting," said Tom Ruff, a real-estate analyst with the Information Market. "July could very well be a landmark month as some buyers start to realize what the investors have known for quite some time. Historically low prices coupled with historically low interest rates make a very strong tonic."
by Catherine Reagor - Jul. 8, 2011 12:00 AM
The Arizona Republic
Frenzied home-sales activity in June proved earlier speculation about a third dip in metro-Phoenix home prices to be untrue.
The median price of an existing home in the region climbed to $118,950 last month, after hovering at a real-estate crash low of $115,000 for six straight months, according to the Information Market, a realty-data company.
The rate of home sales also rose, with a nearly record 9,450 used and new homes sold in Maricopa County in June, the largest monthly number since the end of housing boom in December 2006. And that number doesn't include the more than 1,300 homes sold at foreclosure auctions by lenders.
The home-sales market has been dominated by foreclosure homes, but foreclosures also declined. The region had 2,000 fewer active foreclosure filings in June than May. At the same time, the number of homes for sale was down nearly 10 percent from May.
The combination means a decrease in inventory, as more foreclosure homes are resold and fewer homes come on to the market to replace them. That drop in supply helps trigger an uptick in prices.
Market indicators started to show signs of a recovery in March. The recent numbers are a further confirmation.
"Supply continues to drop while demand is extremely strong," said real-estate analyst Mike Orr, who publishes the online daily "Cromford Report."
He said there are still some market watchers who believe there is a large "shadow inventory" looming over Phoenix. These homes, which aren't in foreclosure but could soon be taken back by lenders, could flood the market and drive prices down again. But his figures show Phoenix's shadow inventory has been steadily falling since November 2010 and won't impact prices.
Who's buying in Valley
Most of the buyers of Valley homes continue to be investors, according to public records.
More than 1,300 foreclosure homes sold in June at what are known as trustee-sale auctions, the Information Market said. Those sales aren't included in the overall tally for metro Phoenix's home sales because public documents record them differently. But those auction sales definitely contribute to a shrinking inventory and higher home prices.
Many auction buyers are paying cash, and bidding wars are typical now as people try to buy the houses on the courthouse steps, hoping either to turn them into rentals or flip them for a quick profit.
The new-home market continues to struggle. Housing analyst RL Brown, who publishes the "Phoenix Housing Market Letter," said the wide disparity between foreclosure resales and new-home prices will continue to hurt the homebuilding market.
Short sales in the Valley climbed almost 50 percent in June from May, according to the Arizona Regional Multiple Listing Service. In these sales, lenders agree to let distressed borrowers sell a home for less than they owe, ensuring the bank gets some money rather than having to foreclose. The increase in these sales signals that more lenders are working with buyers to avoid foreclosure.
Some real-estate agents are finding it more difficult to find homes for clients to buy because listings are steadily falling.
Julie Bieganski, a Phoenix real-estate agent and investor, tracks the drop in listings every day and said it's much tougher to find deals on homes for herself and clients.
On July 1, Orr's data showed 28,827 active listings across metro Phoenix, down 8 percent from June 1 and down 30 percent from July 1, 2010.
The forecast for July
June has traditionally been a strong month for the housing market as more families look for homes before the school year starts. But investors are motivated differently, more by the timing of the short sale or foreclosure auction they are interested in.
Last year, a federal tax credit spurred many home sales, but that incentive is gone. Now, because of tighter lending guidelines, it can be more difficult for traditional buyers who are trying to obtain mortgages.
However, if the sales activity on June 30 is any sign of what is to be expected of July, the Valley's housing market could be in for another strong month. A record 2,216 homes sold on that day, more than any other single day in history.
"I was not surprised the median home price increased. It was something we were expecting," said Tom Ruff, a real-estate analyst with the Information Market. "July could very well be a landmark month as some buyers start to realize what the investors have known for quite some time. Historically low prices coupled with historically low interest rates make a very strong tonic."
Saturday, May 21, 2011
What Would You Do?
Family returns $45,000 found in new home's attic
Associated Press
SALT LAKE CITY -- When Josh Ferrin closed on his family's first home, he never thought he'd make the discovery of a lifetime -- then give it back.
Ferrin picked up the keys earlier this week and decided to check out the house in a Salt Lake City suburb.
As he walked into the garage, a piece of cloth clinging to an attic door caught his eye. Inside, he found eight boxes full of cash -- about $45,000.
Ferrin says he thought about everything he could do with the money, but knew he had to give it back. And that's exactly what he did.He called the previous owner's son and returned the money. That man says he knew his father had stored cash in the home but never imagined it was that much.
Associated Press
SALT LAKE CITY -- When Josh Ferrin closed on his family's first home, he never thought he'd make the discovery of a lifetime -- then give it back.
Ferrin picked up the keys earlier this week and decided to check out the house in a Salt Lake City suburb.
As he walked into the garage, a piece of cloth clinging to an attic door caught his eye. Inside, he found eight boxes full of cash -- about $45,000.
Ferrin says he thought about everything he could do with the money, but knew he had to give it back. And that's exactly what he did.He called the previous owner's son and returned the money. That man says he knew his father had stored cash in the home but never imagined it was that much.
Tuesday, April 19, 2011
Buy now... or wait?
Did you know that a person who purchases a home at $200,000 with a 4.5% interest rate (30 yr loan) will pay $43,640 less than a person who waits for a price reduction and pays $190,000 for a home with a 6% interest rate!?
Tuesday, March 8, 2011
5 Tax Tips, Tricks and Traps for Homeowners
Trulia.com, March 2, 2011
Ask a roomful of homeowners what's so great about owning versus renting, and you'll hear them holler in unison: "the tax deductions!" And it's true – homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.
That means that if you're in a 28% tax bracket, Uncle Sam effectively subsidizes about a third of your borrowing costs or more, making your home more affordable or allowing you to buy a larger home than you could have otherwise. Also, big chunks of your closing costs are tax deductible, and hundreds of thousands of dollars of any profit (or capital gains) that you realize when you sell your home are exempt from income taxes.
At tax time, it's critical to know what you're entitled to, so you can claim it. So, here are five essential need-to-knows about home-related income tax tips to help you get the most tax-reducing bang out of your home-owning buck – and to avoid hefty home ownership-related tax traps.
1. You Have to Itemize Your Return to Claim Your Deductions
During the recent debate on Capitol Hill about whether the mortgage interest deduction should be eliminated (it won't be, not anytime soon), it came out that nearly 40% of homeowners lose out on their major tax advantages every year when they fail to itemize their income taxes. If you own a home and otherwise have a fairly simple return, it might be tempting just to take the standard deduction – and if your mortgage, property taxes and income are low enough, the standard deduction might outweigh your homeowners' deductions. But you'll never know if you're losing out on the tax advantages of itemizing unless you try; before you grab a pen and start filling in that 1040-EZ grab those forms from your mortgage company and answer the questions on tax software like TurboTax, which will automatically do the math on whether itemizing or taking the standard deduction will result in the lowest tax bill – or the highest tax refund – for you.
Ask a roomful of homeowners what's so great about owning versus renting, and you'll hear them holler in unison: "the tax deductions!" And it's true – homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.
That means that if you're in a 28% tax bracket, Uncle Sam effectively subsidizes about a third of your borrowing costs or more, making your home more affordable or allowing you to buy a larger home than you could have otherwise. Also, big chunks of your closing costs are tax deductible, and hundreds of thousands of dollars of any profit (or capital gains) that you realize when you sell your home are exempt from income taxes.
At tax time, it's critical to know what you're entitled to, so you can claim it. So, here are five essential need-to-knows about home-related income tax tips to help you get the most tax-reducing bang out of your home-owning buck – and to avoid hefty home ownership-related tax traps.
1. You Have to Itemize Your Return to Claim Your Deductions
During the recent debate on Capitol Hill about whether the mortgage interest deduction should be eliminated (it won't be, not anytime soon), it came out that nearly 40% of homeowners lose out on their major tax advantages every year when they fail to itemize their income taxes. If you own a home and otherwise have a fairly simple return, it might be tempting just to take the standard deduction – and if your mortgage, property taxes and income are low enough, the standard deduction might outweigh your homeowners' deductions. But you'll never know if you're losing out on the tax advantages of itemizing unless you try; before you grab a pen and start filling in that 1040-EZ grab those forms from your mortgage company and answer the questions on tax software like TurboTax, which will automatically do the math on whether itemizing or taking the standard deduction will result in the lowest tax bill – or the highest tax refund – for you.
2. Plan Ahead and Be Strategic When Taking a Home Office Deduction
According to the Small Business Administration, the average home office deduction is $3,686 – multiply that by your tax bracket – 15%, 20%, 30% or whatever it is, and that's what you'll save on your taxes by writing off your home office. Know, though, that the space you designate as your home office cannot be exempted from capital gains tax when you sell your home later. The $250,000 (single)/ $500,000 (married filing jointly) income tax exemption for capital gains is only good on your personal residence, after all – not including any space in your home you've claimed as your tax-advantaged office. If you foresee selling your home for much more than you bought it in the future, near or far, discuss this with your tax preparer to see if the few hundred bucks you save is worth the capital gains complication later.
3. Tax Relief for Loan Modifications, Short Sales and Foreclosures Is Only Around Through 2012
While the long-term housing outlook is beginning to look up, 2011 is projected to be the peak year for foreclosures during this market cycle. Distressed homeowners who are on the brink of a short sale, loan modification or foreclosure should be aware that normally, any mortgage balance that is wiped out by one of these outcomes is taxed as what the IRS calls Cancellation of Debt Income, or CODI.
Under the Mortgage Debt Forgiveness Relief Act of 2007, the IRS is currently not charging income taxes on CODI incurred through a loan mod, short sale or foreclosure on most primary residences through 2012. But right now, banks are taking many months, or even years, to work out mortgages in all of these ways; the average foreclosure in New York state right now occurs only after 22 months of missed mortgage payments. If you foresee any of these outcomes in your future, don't put things off. Do what you can to get to closure on your distressed home and loan, ASAP, while you won't have income taxes to add as the insult on top of your significant housing injury.
4. Project the Income Tax Consequences of a Refinance or Property Tax Appeal
Homeowners everywhere are working on applying for a lower property tax bill on the basis of the last few years' decline in their home's value. Those who have equity have flocked en masse to refinance their 7% home loans into the 4% to 5% rates of the last few months. These strategies offer some of the heftiest household savings out there for the corresponding investment in time and money they take. But here's a caveat for savvy homeowners who slash these costs: remember that property taxes and mortgage interest, the very costs you're minimizing, are also the basis for the major tax benefits of being a homeowner. So plan ahead for your income tax deductions to go down along with your taxes and interest.
5. Don't Forget Those Closing Costs
If you bought or refinanced your home in 2010, you may be so focused on your mortgage interest and property tax deductions that you forget all about your closing costs. Any origination fees or discount points that were paid to your mortgage lender at closing are tax deductible on your 2010 return, get this – even if the seller paid your closing costs. If you can't figure out exactly what you paid, look for your HUD-1 settlement statement, that legal sized paper full of line item credits and debits that you should have received from your escrow provider or title attorney at, or just after, closing. Can't find it? Drop your real estate agent or mortgage broker an email; they can usually get a copy to you quickly.
Tuesday, February 8, 2011
Weird but Wonderful Homes
This link was shared with me by one of my fabulous lenders. Top ten "Weird but Wonderful Homes". Enjoy!
http://www.cnbc.com/id/41371897
http://www.cnbc.com/id/41371897
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