Apple in Arizona: More than 700 jobs coming to Valley, says Gov. Brewer

Great news for Mesa!!

By: abc15.com staff

MESA, AZ - Apple is coming to the Valley and will create more than 700 jobs for Arizonans, announced Gov. Jan Brewer Monday afternoon.

The newest U.S. manufacturing facility for Apple will be in Mesa near Elliot and Signal Butte roads.

"Apple is indisputably one of the world's most innovative companies and I'm thrilled to welcome them to Arizona," said Brewer.

She said it will create at least 700 quality jobs in the first year and generate significant capital investment. 

It will also generate about 1,300 construction and other associated jobs.

"Apple's confidence in Arizona and its selection of Mesa as the site of its newest manufacturing facility represents an enormous win for our state and a historic investment in our community," said Sandra Watson of the Arizona Commerce Authority.

Brewer said bringing Apple to Arizona was a collaborative effort led by the Arizona Commerce Authority, chaired by Brewer, in conjunction with partners at Salt River Project, the Greater Phoenix Economic Council, the city of Mesa and Maricopa County.

FREE MONEY! HARP 2.0- Are YOU Eligible?

Up to $100,000 in principal forgiveness!

* Loan must be owned by Freddie Mac or Fannie Mae (sold to them by 6/1/09)
* Must be current on payments
* No late payments in last 6 months
* Max 1 late payment in months 7-12
* No FICO requirements
* Available for primary residence
* Refi available for non-owner occupied and second homes

To learn more about the program call or email me! 602-330-3379; stacia.ehlen@remax.net

Information provided by LeAnn, The Lending Lady

Do Remodeling Projects Pay?

by Monica Perdue

We all love to see the before and after on home remodeling shows and the biggest appeal seems to be updated kitchens and master baths.  It’s all about the “wow” factor!  But when you are selling your home, it’s important to consider (in business terms), the ROI, which is Return On Investment.  Cost versus value is clearly a tricky thing.  According to the National Association of REALTORS, “A house that sparkles on the surface will sell faster than its shabby neighbor, even though both are structurally well-maintained… Buyers feel more comfortable purchasing a well-cared for home because if what they can see is maintained, what they can’t see has probably also been maintained.”

Considering potential renovations requires research.  Personally, I’d love to have a luxurious master bath with heated Travertine tile floors, mosaic accents in the over sized fully glass-enclosed shower with wall jets, not to mention those sexy above counter sinks, but is it worth the investment?  Appraisers care more about the condition of the house and property, square footage (overall living space), number of bedrooms and baths, and what your neighbor’s home sold for, not necessarily the latest bathroom renovation . It’s all about function over form.

The Remodeling 2012–13 Cost vs. Value Report (www.costvsvalue.com), outlines which project give you the most bang for your buck! It may not all be so sexy, but when you’re ready to sell, getting more return for your investment makes you feel much more warm and fuzzy about the deal.

Entry Door Replacement (Steel): Not sexy at all, but this simple update costing an average of $1,100 gives you an 85% return, that’s over $900 back.  And in the meantime you have more security and an entryway that could appeal to potential buyers.

Deck Addition (Wood): This is definitely a more fun add-on, but may not be on your remodel list. This renovation has an average 77% return, with the average cost around $9,000 and a re-sale value of $7,000.  It’s definitely something to consider.  Using composite over wood elevates the cost significantly (average$15,000 ) and your return percentage drops to 67%. When considering this type of remodel, wood may provide the best return.

Minor Kitchen Remodel: When I saw this, my big question is “What does ‘minor’ mean?”  Essentially this is a re-facing of the kitchen, keeping all the structure of the current kitchen, replacing cabinet facings (doors, drawers and hardware), updating counter tops, sink and faucet, new energy efficient oven and cook top, as well as repainting. This “minor” kitchen remodel could cost an average of  $18,500 with over 75% return – potentially $14,000 back in your pocket when you sell.

Siding Replacement (Vinyl): This is not an exciting conquest when looking at remodeling options, but when you are selling your home, consider what an inspector will be looking at for your prospective buyer.  No one wants to come into a home with a need for hefty updates, especially replacing siding.  If your house needs it, it’s definitely value added.  Another 73% return with an average cost of $11,000 adding $8,000 in home value.

Basement Remodel: More “livable” space always increases value. While this is the most expensive remodel yet, it provides great return for dollars spent.  Extra living space immediately adds value, but a finished basement can be many things to many people. It could be a second/separate living space for family. It could be a great place to entertain. A place to send your kids to watch movies, or to get away from your kids.  Possibilities are virtually limitless.  This being an extensive project with extensive costs (average $60,000), this would be a great option for someone looking to sell down the road. Get some of that value for yourself and then hopefully get it back at about 70% return when you sell.

Bottom line, your remodeling plans need to be something that will make you happy now as well as help you sell later because in most cases you won’t get 100% of your investment back. With all renovations to your home, your return will vary from buyer to buyer as well as from one location to the next. It’s important to discuss your desired updates with a respectable contractor. And when considering these renovations for resale value, it’s even more important to discuss with your local real estate professional. They have the best grasp of what you can gain based on the renovation and the buyers market in your area.

© 2012 Hanley Wood, LLC. Complete data from the Remodeling 2012–13 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

30 Years of Interest Rates

Rates are still close to their 30 year low! If you are thinking of buying, now is the time!

FHA Credit Policy Change Makes it Easier to Qualify

Some great info from one of my favorite lenders!

 

FHA Credit Policy Change Makes it Easier to Qualify "Economic Events" Recognized as Isolated
 

Effective immediately, policy changes in the way the Federal Housing Administration (FHA) views certain derogatory credit will make it easier for some borrowers to qualify for purchasing a home. Allowances will be made for certain "Economic Events" resulting in poor credit ratings, which previously would cause borrowers to be ineligible.

What do the new rules say? Potential borrowers who experienced a decrease of income by 20 percent or more for at least six months, and that resulted in serious derogatory credit such as a short sale, foreclosure, or bankruptcy, may still be eligible as long as:

1. The loss of employment or income was due to an extenuating circumstance beyond his or her control and can be documented;
2. A satisfactory credit history has been restored for a period of 12 months; and
3. Housing counseling has been completed.

Other changes effective October 15, 2013 include amendments to underwriting guidelines in the area of outstanding, prior judgments and collections, including the exclusion of unresolved medical collections from the underwriting decision.

If you or anyone you know has been previously denied for a home loan based on an isolated credit incident, I may be able to help! And I'm always happy to answer any questions you may have.

Sincerely,
LeAnn ScrimpshireAaron Lending LLC NMLS156162
LeAnn@TheLendingLady.com

Arizona Bucket List: Mesa Edition

Thinking of moving to the East Valley? Click here for some "can't miss" places in Mesa.

How Long After A Short Sale or Foreclosure Can You Buy Again?

I know I've posted this before, but it is a great chart to go off of! (can't see the whole chart? just click on it!)