ON E OF A R I ZON A’ S N AT U R A L R E S O U R C E S
MARCH 2012
Nate Martinez Team How’s the market? A topic I hear on a daily basis whether at the office, out to lunch or listening to the evening news. The real estate market has been top of mind for most Arizona homeowners and those who think their dream of homeownership was stripped away by the down-turn of the housing market. In reality, the opportunity of homeownership has never been better with attractive pricing and ridiculously low interest rates. The landscape has changed and for the better. According to a study released this week by the W.P. Carey School of Business at Arizona State University, the median sales price of a single family home is up 6.5% in January compared to last January. That number is $120,500 as compared to $113,166 from a year ago. “Many people think there is a glut of homes the banks are hiding somewhere, and that may be
the case in other markets, but not here in the Phoenix area,” Or said. “We’ve gone through so many foreclosures that the system has been working itself out for about five years.” In all there were about 8,000 home sales in the Phoenix metro area in January as compared with less than 7,500 a year earlier. Additionally, new home sales are up 49% in January from January 2011. That number is 496 as compared with 333 a year ago. New sales were concentrated in Gilbert with 130 sales, followed by Phoenix with 50, Chandler with 49 and Goodyear with 43. And as the peak buying season begins in the spring for Arizona, they are projecting continued improvements to the housing recovery. I have been on more traditional listing appointments over the past 30 days than I have been in the last
year combined. We are seeing more and more cash buyers who are writing contracts above list price in multiple offer situations. Pricing and values are definitely on the upward swing – in some cases the values are moving faster than the available market data we have for comparables. If you think making a real estate move is out of reach, its time to think again. I have been a real estate professional in the Valley for nearly 30 years and I have seen all kinds of market trends, both up and down. There is positive movement happening and impressive signs of which point to a strong housing recovery. Don’t wait to hear about it on the news – take it from a source you can trust. So how is the market? It’s great! Do you know someone who is looking to buy or sell a home? Give me a call today! - NATE
I went through a Foreclosure, when can I buy again? FannieMae
Yrs Explanation
FHA
Yrs Explanation
VA
Yrs Explanation
Foreclosure Short Sale
7 2
Foreclosure Short Sale
3 3
Foreclosure Short Sale
2 -
Chpt. 7 Bankruptcy 4 Chpt. 13 Bankruptcy 2
_ With 20% down payment, 4 yrs. with 10% down payment From discharge date From discharge date or 4 yrs. from dismissal date
FreddieMac
Yrs Explanation
Foreclosure Short Sale Chpt. 7 Bankruptcy Chpt. 13 Bankruptcy
4-7 4 4 2
With 10% down payment _ From discharge date From discharge date
Chpt. 7 Bankruptcy 2 Chpt. 13 Bankruptcy 2
_ If you were current on your mortgage payment during the short sale process, you maybe eligible sooner From discharge date With permission from the chapter 13 trustee, borrower maybe eligible for new loan, as long as they have 1 year of positive payment history
Chpt. 7 Bankruptcy 2 Chpt. 13 Bankruptcy -
_ No documented information yet, however, can assume the FHA rule applies. From discharge date With permission from the chapter 13 trustee, borrower maybe eligible for new loan, as long as they have 1 year of positive payment history
* There are exceptions to every rule and the guidelines are changing constantly. If you or someone you know has gone through a foreclosure, bankruptcy or short sale in the past 2-5 years, its time to consider purchasing again. In some areas of the city, you can purchase a home today for less than it sold for new 10 years ago, you can’t rent for less than what you can own a home for today. If are unsure of your eligibility, please give us a call. We can connect you with a professional loan officer who can assist you with the qualifying process.
7 1 1 1 W B e l l R d S u i t e 1 0 1 . G l e nd a l e , A Z 8 5 3 0 8 O: 602.942.7000 | TF: 800.284.1158
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ADDRESS
CITY
BED BATH POOL
PRICE
ADDRESS
CITY
BED
BATH SQ.FT
3301 E Earll Dr #210 2423 E 7th St 2312 N 51st Dr 10411 W Clair Dr 4540 W Kristal Way 25685 W St. Catherine Ave 6837 W Caron Dr 17200 W Bell rd #2189 3002 W Wethersfield Rd 8111 W Wacker Rd $20 9730 W Hassayampa Dr 10516 W Granada Dr 9718 W Gulf Hills Dr 13351 W Copperstone Dr 14236 N 39th Way 20032 N Willow Creek Cir 20821 N 1st Ln 2202 E Karen Dr 12837 W Roanoke Ave 8929 W Kathleen Rd 14008 N Del Webb Blvd 14613 N Shiprock Dr 1927 W David Rd 15019 W Desert Hills Dr 3164 E Winged Foot Dr 10801 W Saratoga Cir 44254 W Sedona Trl 10935 E 107th Way 33013 N 24th Ln 20720 N 58th Ln 16718 E Trevino Dr 8382 W Missouri Ave 2833 E Cheryl Dr 4908 W Silva Dr 17930 W Marshall Crt 30946 N 120th Ave
Phoenix Tempe Phoenix Sun City Glendale Buckeye Peoria Surprise Phoenix Peoria Sun City Sun City Sun City Sun City West Phoenix Sun City Phoenix Phoenix Avondale Peoria Sun City Sun City Phoenix Surprise Chandler Sun City Maricopa Scottsdale Phoenix Glendale Fountain Hills Glendale Phoenix Phoenix Litchfield Park Peoria
2 2 3 2 2 3 2 2 4 3 2 2 2 2 4 2 3 3 4 3 2 2 2 4 4 3 5 3 3 4 3 5 5 5 3 5
$40,000 $45,000 $45,000 $49,900 $52,000 $68,000 $63,250 $64,500 $69,900 $74,750 $79,100 $80,000 $84,900 $88,000 $88,900 $89,900 $90,000 $100,000 $109,000 $110,000 $114,000 $130,000 $132,500 $135,000 $150,000 $163,850 $175,000 $194,000 $200,000 $234,900 $240,000 $240,000 $264,000 $310,000 $310,900 $1,000,000
12005 S 208th Ave 8416 N 34th Ave 20256 N 70th Dr 15932 W Crocus Dr 9718 W Gulf Hills Dr 6558 W Inglewood St 425 Palm Dr 14394 W Shaw Butte Dr 2831 E Southern Ave #130 3818 N Trayton St 1702 W Tuckey Ln #228 2131 W Verde Ln 8780 W Windsor Blvd 7361 W Yucca St
Buckeye Phoenix Glendale Surprise Sun City Mesa Wickenburg Surprise Mesa Buckeye Phoenix Phoenix Glendale Peoria
4 2 4 3 2 4 3 4 2 4 2 3 3 3
2 1 3 2.5 2 2 1.75 2.5 2 3.5 1 2 2.5 1
2 2 2 1.75 2 3 1 1 2 1.75 1 1.75 2 1.75 2.5 2 2 1.75 2.5 2 2 1.75 2.5 2.5 2 1.75 2.5 2 3 2 2 3 4 3.5 2.75 4.5
NO YES NO NO NO NO YES NO YES YES NO NO NO NO NO NO NO NO NO NO YES NO NO YES NO NO NO YES NO NO NO YES NO YES NO NO
RE/MAX Professionals Home Hotline gives you access to information in English & Espanol on virtually every property in the MLS, 24/7 from any phone!
2,132 1,008 2,297 1,866 1,492 1,901 1,400 3,886 993 4,947 863 1,370 1,849 945
Available Rentals ADDRESS
CITY
BED
BATH PRICE
7101 W Beardsley Rd #712 12026 W Granada 17604 W East Wind Ave 44254 W Sedona Trail
Glendale Avondale Goodyear Maricopa
2 3 3 5
1.25 2 2 2.5
$795 $925 $970 $1400
LOTS For sale ADDRESS
5432 W Escuda Rd 0 2355 Lupine Ln 6 22499 W Dove Valley Rd 143XX Orbelin Way 0 (A) 143XX Orbelin Way 0 (B) 143XX Orbelin Way 0 (C) 143XX Orbelin Way 0 (D)
CITY
Glendale Wickenburg Wittman Surprise Surprise Surprise Surprise
Sq.Ft. 112,211 75,665 409,202 49,528 49,543 49,557 49,567
PRICE $55,900 $39,900 $30,000 $10,900 $10,900 $10,900 $10,900
Congratulations to Christian & Stacy Dragos for being the first to enter our VIP contest. Become our VIP and enter to win two Diamondback Baseball Tickets.
• 1 : Call our 24/7 RE/MAX Professionals Home Hotline number - 602-277-3111 • 2 : Enter the house # (ie: 123 Main St. you would enter 123 on your telephone keypad) • 3 : Hear property details and follow the prompts to hear additional information
To enter, please visit www.NatesHomes.com/VIP and provide all the information requested. Winner will select game date.
For every home we sell, a donation will be made to the Children’s Miracle Newtwork on behalf of, and in the name of, the Buyer or Seller!
3/16
Mark McGlasson Mario Fernandez Rachel Thompson
3/17
Ellen Shalley
3/18
Victoria Eversole Della Wyatt Steve O’Neal Jennifer Schell
3/19
Sloan Decker Troy Meeker
3/20
Greg Sowers Paul Russo Christopher Rusnell Tessa Groft Haily Moya Marc Peagler
3/21
William Stevens Lamis Affnan Robert Fisher Rosa Barrett
3/1
Andy Duong Joseph Padgitt Evone Gillespie Marshall Redder JR Brian Gleason
3/9
Nancy Nunez Ashton Reagan Monique Thompson Megan Sorenson Pat Barre
3/2
Paisley Groft
3/3
HeatherFraiman Robert Hanscom Julie Aufrance Toni Uczen Claire Brown Bob Tamin
3/10
Samuel Roberts Olivia Delgado Terri Cohagen
3/11
Steven Trone
3/6
Gary Luken Bill Johnson Blanca Molina Perry Fraiman
3/12
Debbie Peterson Mahesh Patel Kyle Unruh Bill Becker
3/13
Michael Moccia
3/7
Frannie Hutchinson Thavy Sowers Michael O’Neill Cherith Rogers
3/14
Sara Schrader Missy Frear Scott McKissack Pam Terry Veronica Mojarro
3/8
Rich Press Alexis Santa Maria Nicole Beasley
3/15
Claudette Aranda 3/22 Ray Sanchez Raymundo Sanchez Herrera
Jaime Spencer Kristina Varricchio
3/23
Jimmy McPhail Cailin Cormier Duane Woods Rafael Valencia
3/24
Robert Bartlett Kellen Klimpel Mary Osborne Dayla Moran Ismenia Smith Mary Tamin Carolyn O’Hara
3/25
Brian Denes Michael Jelinek Deborha Benham Brenda Baer
3/26
Lonnie Olson Bryan McGee
3/27
Ginger McIntyre Michael Thompson Richard Maske Tom Lukens Bryan Butler Christopher Holman
Ryan Garner
3/29
Connie Jones Kevin Banzul Judy Robinson Sean Siladji Holden Brown
3/30
Nancy Mahaney Brent Hildyard Pat Bristow Lori Franklin Kathy Banzul Elisa Baca
3/31
Mick Spencer Richard Sinay Stefano Galindo David De Moss Susan Hart
• Don’t see your name? Email or call us with your birthday!
We l Referrals!
The Nate Martinez Team would like to thank the following people for the wonderful referrals they have sent our way.
Amy Richards Nathan Kimes, RE/MAX Peak Properties Dave Ramsey, Dave Ramsey Show Terry Moeler, Moeler Real Estate
3/28
3/3 3/9 3/12 3/14 3/15
Liz Marriott, RE/MAX Equity Group Andrew Adams, Ask Adam Sandra Paulow Nick Taylor, RE/MAX Realty Group
Mr. & Mrs. John Cozik 3/17 Mr. & Mrs. Giles Wilson Mr. & Mrs. Jack Coito 3/19 Mr. & Mrs. Robert Hanscom Mr. & Mrs. Robert Pearson Mr. & Mrs. Michael Ashing Mr. & Mrs. Jon Brinton 3/25 Mr. & Mrs. Michael Swichtenberg Mr. & Mrs. Guy Heard Mr. & Mrs. Terry Ringe
WHY WOULD A BANK AGREE TO LET A BORROWER OFF THE HOOK FOR LESS THAN THE AMOUNT OWED?
IS A SHORT SALE FOR YOU?
Banks aren’t in the real estate business. They don’t want to own your home. And because banks were as blind sighted by the foreclosure crisis as everyone else, they already have more homes on their books than they can expect to sell in a year. If there’s one word that describes how banks feel about foreclosures right now it’s: ENOUGH!
If you are no longer able to make your home payments, and you owe more on your mortgage than your home is worth, you’re in good company.
As a result, many banks are now offering cash incentives and have speeded up processes to encourage short sales. You may qualify for a short sale if you:
An estimated one fourth of all U.S. homeowners are Upside Down on their mortgage—meaningthey owe more on their home than they could get from selling it in today’s market. Often the best solution for homeowners in this situation is a short sale in which the bank agrees to accept less than is owed on the mortgage.
• Owe more than your house is worth • Can prove financial hardship • Are unable to afford your current mortgage payment
The federal government, along with many state and local agencies, have also stepped up their foreclosure prevention initiatives. Key among the foreclosure prevention initiatives is the Home Affordable Foreclosure Alternatives (HAFA) program. Homeowners who qualify for a HAFA short sale get: • $3,000 in relocation assistance • The reassurance that the foreclosure process will be halted during the short sale process • A waiver on deficiency judgements following the sale, meaning the lender will not seek to collect the difference in the amount of the mortgage and the sale price The situation is complicated and the stakes are high. Never has it been more important to have a local market advocate on your side. Contact me today and let’s get started!
www.AZShortSaleResource.com
Scan the QR code to receive a free copy of this month’s short sale report.
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602-942-7000 | www.NatesHomes.com | www.NatesLuxuryHomes.com
7111 W Bell Rd Suite 101. Glendale, AZ 85308 P: 602-942-7000 E: Nate@nateshomes.com www.NatesHome.com www.NatesLuxuryHomes.com Each office independently owned and operated
I went through a Foreclosure, when can I Buy again? Many people have been hit with the difficult reality of a foreclosure. For some, it simply was unavoidable, for others maybe it was the best financial decision they could make, given all the other options. Just because you might have hit hard times during the downturn of the market, does not mean you can never own a home again. In fact, you might be surprised to learn how soon you can repurchase, even if you had a bankruptcy with a foreclosure or short sale. Look inside this newsletter to find out!
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