Estrella Mountain Ranch Real estate For Sale $144,900

Call Linda 602-391-8246

$144,900

WOW, WHAT A PRICE ON THIS FANNIE MAE OWNED HOME!!!THIS HOME IS A GREAT SINGLE LEVEL HOME WITH 3 BEDROOMS WITH A DEN, TILE IN ALL THE RIGHT PLACES, LARGE OPEN FLOOR PLAN, AND MUCH MORE...TO TOP IT ALL OFF IT'S LOCATED IN ESTRELLA MOUNTAIN RANCH!!HURRY THIS ONE WON'T LAST LONG!!!Keller Williams Realty Professional Partners 

Call Linda Wieczorek   602-391-8246 

                

Avondale, AZ Realeatate Perfect for INVESTOR! $25,000

$25,000 Steal of a DEAL 

Linda Wieczorek 602-391-87246

CALL Linda 602-391-8246

601 N 4th ST C Avondale, AZ     $25,000

MOVE-IN READY!! HOME FEATURES: 2 MASTER BEDROOMS UPSTAIRS, EACH WITH OWN BATH. LARGER OF 2 MASTERS HAS A WALK-IN CLOSET. 3RD BEDROOM DOWNSTAIRS WITH LARGE HALF BATH. LAUNDRY CLOSET IN HALF BATH. OPEN SPACIOUS FLOORPLAN AT 1340 SQ FT. 1 CAR GARAGE AND 1 CAR CARPORT.. Liberty One Realty,LLC                                       601 N 4th ST C Avondale, AZ     $25,000

Do You Qualify For HAMP?

Are you still l trying to Modify your Home LOAN  with NO LUCK!! Check this video out

Landlords Are Charging How Much? How to Find Out

                                                 Here’s a cool, new resource a whole bunch of folks will find useful…
Want to know what landlords are asking for rents in the areas where you invest?  Maybe you’re a landlord and want to spy efficiently on your competition?  Or a virtual investor trying to quickly ascertain rents from afar?

At it’s core, PadMapper keeps near real time track of the rents landlords are advertising in a myriad of national sources like Craigslist, Apartments.com, Oodle, etc.
When you search a city, zip or address, what you get back is a big ole interactive Google map showing where the apartments are.  And using filters you can eliminate listings you’re not interested in for whatever reason, and hone in on the ones that you are.
Whenever I’m wholesaling deals to landlords, rents are of course always a key factor in their assessment.  So I’ve always found it important to have my mind wrapped around market rents (seeing the market through your buyer’s eyes) and PadMapper just made that even easier.

Handy TIPS

• Keep in mind the results are far from exhaustive…but still very useful.  And the number of markers that can be displayed onscreen at once is limited to roughly 100, since it becomes choppy in some browsers (Internet Explorer) with more.
• The filtering does it’s best to reserve those 100 spots for apartments you’re more likely to like.
• You can setup cool email alerts (really useful if you’re actually apartment hunting)
• As a landlord, you can also submit your own “pad” to be listed among their results if you don’t see it there already.
• If there’s a big area that’s empty that probably shouldn’t be, zoom in on that area. If that doesn’t help, try easing up on your filters. Also, try moving any large clusters of apartments you’re not interested in offscreen by dragging the map or zooming.
• Zooming in very close shows some cool local attractions around apartments (not available everywhere)

Borrowers Should Be Aware of the Effects Foreclosures, Bankruptcies and Shorts Sales Will Have on Their Credit

Author: Christina Inman     

For homeowners facing foreclosure or bankruptcy–or considering a short sale of their property to avoid one or both–the effect the action will have on their credit is undoubtedly a huge concern. Though keeping their homes might not be an option at this point, there could very well be another one in the not-too-distant future, so knowing when they’ll be eligible to qualify for another mortgage is important.

Be Aware of the Rules of the Road

Earlier this year, Fannie Mae updated its credit guidelines for borrowers who experience one of these circumstances. And, in general, the wait time will now range from two to five years.
Homeowners who lose their properties to foreclosure or file multiple bankruptcies within a seven-year period will have the longest wait–five years.
In the case of foreclosure, additional requirements and restrictions will apply after five years and up to seven years as well, which include making a minimum 10% down-payment, having a credit score of at least 680, and having limited cash-out refinance options. Also, the purchase of second homes or investment properties is not permitted.
A shorter time limit (three years) does apply to both foreclosures and multiple bankruptcy cases if the borrower had what Fannie Mae considers to be “extenuating circumstances” that led to the foreclosure. Of course, the borrower must provide evidence and documentation that the action resulted, from, in their words, “…nonrecurring events…beyond the borrower’s control that result  in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.”
Borrowers who experience a deed-in-lieu foreclosure must wait the next longest period–four years. However, if they suffered what Fannie Mae considers extenuating circumstances, then they too can qualify to have their waiting period shortened (in this case to two years).
Bankruptcies–with the exception of Chapter 13 judgments–also mean a four-year wait from the discharge or dismissal date unless–once again–extenuating circumstances apply. In that case, the wait is cut in half to two years as well.
Two years is the standard waiting period for pre-foreclosure or short sales (whether the mortgage was delinquent or not), as well as Chapter 13 bankruptcy judgments. There are no exceptions permitted for extenuating circumstances, however.

Requirements to re-establish credit

In all cases, there are several requirements that must be met before credit can be reestablished. These include:

• Having all accounts current as of the date of the mortgage application
• Including a minimum of four credit references (one of which must be housing-related and cover the period following the foreclosure, bankruptcy or short sale)
• Include no more than two installment or revolving debt payments thirty days past due in the last twenty-four months, or any payments sixty or more days past due since the discharge or dismissal of the bankruptcy or the completion of the foreclosure-related action. 

Of course, this is a general overview of Fannie Mae’s new credit guidelines; for more detailed information, please visit their web site.
Knowledge is power, and knowing the credit consequences of the various actions mentioned above can help a homeowner in financial trouble decide which course to pursue. As an agent, having this information to pass along to your clients, and having a resources behind you to help keep you updated on the latest legislation and guidelines—as well as help you provide them with foreclosure-prevention options—can help make you their super hero!
Author: Christina Inman 

Want to be a landlord? Here are some points to consider.

Pointers To Consider As A Real Estate Investor

When researching the income potential on a piece of property, here are a few things to consider.
You should:

• Be comfortable with your financing strategies. The bottom line here is whether you can afford to take on a significant investment that can potentially occupy a lot of your time and money.
  
• Talk to other property owners and pick their brains. Find out what it’s like to be a landlord by talking with other rental property owners of similar properties to get several perspectives on the realities of the business.
• Check sales comparisons. Determine going rates for similar properties and what gets covered in the pricing of rental units for sale.
• Consider the possibility that not all units will be rented immediately, leaving you with a lower amount of income in the first few months.
• Know what your basic expenses are going to be: start out by tallying up the amount of your monthly mortgage payment as well as the cost of your property taxes. Property taxes that are paid yearly can be divided by 12 to get a monthly tax figure.
• Check into the cost of insurance for your property and what the policy will cover on the rental property. Estimate the cost of the premium in monthly increments.
• Consider what the rental price will cover for your tenants. Some landlords opt to pay for some utilities such as sewage, water, and heat while others choose to pay for nothing extra. There are pluses and minuses to each decision, especially if you choose to pay some of the bills. Be prepared for tenants who may take advantage of the “free” services and utilities that you offer and consider these factors when calculating your potential costs.
• Account for the cost of advertising and marketing the property to potential renters. If you plan on requiring credit checks or other requirements for prospective tenants, make sure you know what costs will be incurred.
• Look into hiring a property manager if you’re unable to dedicate much time on your rental units. Being a landlord will require a time commitment and depending on your level of experience as a landlord or on the number of units you own, it may be a challenge to perform the work of a property manager if you are not a full-time investor. If the work and effort is something you can’t muster, you may want to outsource some of the real estate management tasks involved.
• Estimate the amount of money that will be spent annually on maintenance and repairs. To achieve a ballpark figure for a monthly amount, take the amount equal to 1% of the value of the property and divide it by the number 12 to get a figure for the cost of monthly cleaning, maintenance, and repairs.
• In addition to the repair costs, take into consideration other requests from tenants for replacements of items like window screens, faucets, door locks, along with other reasonable requests.
• Remember to ask for, and hold on to security money given to you by tenants. Have this money available in the event that a tenant requires a refund of the deposit, or in the event that a unit needs repair work after a lease expires.
• Carefully weigh your expected income against the expenses you’ll incur as a landlord. Consider the pros and cons of the “land lording equation.” Once you’ve estimated the figures for both income and expenses from a given property, you’ll need to subtract the expense total from the monthly income that you anticipate in order to calculate the cash flow of your rental property. If the cash flow you’ve calculated is positive, you’re one step closer to ascertaining that the profit is well worth the investment.

If you’re considering the possibility of investing in rental property, you’ll need to do quite a bit of research and preparation. Not everyone is suited to be a landlord, and if you’re not careful, your rental property investment could lead to larger financial concerns. If your rental property does not produce a positive cash flow, you could essentially go broke by attempting to become a landlord.
As mentioned, one basic element you’ll need to consider with rental properties is the concept of cash flow. Simply put, cash flow is defined as the amount of money made on a piece of property versus the amount of money you must expend on the property. If after you’ve collected all of the rent and paid all of your property-related bills you find that you’ve still got money left over, well then you’ve got a positive cash flow situation. On the other hand, if you’re unable to meet your housing expenses with the current income you’re generating from your rental real estate, then you may just be in a pickle as you’ve got a negative cash flow. This situation is particularly unfavorable if it lasts a while, as it could chip at your personal finances over time and make saving money nearly impossible.

Selling A Home In A Slump

Despite recent trends suggesting the real estate market has hit an all time low there are still plenty of people buying homes, 1st time home buyers and home owners taking advantage of the low interest rates and upgrading to bigger homes. So how can you improve your odds of selling your home during these hard times?
Eeverything around you is telling you the market is your worst enemy, you have to figure out how to turn your luck around. Fortunately, there are ways you can do that. There are several steps you can take to make luck work for you and not against you.

• First, make sure your home is always available for showing, no matter your situation. This will improve the odds you will sell your home. Don’t let inconvenience stop you from showing your home to anyone interested.
• Make sure your home is clean all the time, even if you are not naturally a clean person.
• Have a professional real estate agent or broker come and stage your home so it presents in the best possible light. This will improve your odds of putting your best face forward and impressing potential home buyers.
• If you have pets, make sure they are contained, clean and that all pet odors are removed from the home, unless you plan to sell only to other pet owners. Even then make sure your pet materials are meticulously clean and your yard free of pet debris and waste. Having pets is fun but showing a home with pets in it can be challenging. If you leave the home for a showing take your pets with your or have them restrained so they do not scare off prospects.
• Set a competitive price if you want people to show your house and if you plan to sell your home in a tight market. You probably won’t get top dollar but you can get a fair asking price even if trends suggest the housing market is plummeting. Remember there are still people that have money and have an interest in plunking it down on a new house and worthy investment.

Million-Dollar Homes Not Immune to Foreclosure

Looking for    Luxury HOME Deals Call Linda 602-391-8246 for your FREE LIST of all  Luxury HOME

SCOTTSDALE - More and more homes in upscale neighborhoods are going into foreclosure. Real estate experts say 30 percent of the nation's foreclosures in June were higher-value homes.

How to expedite loan modifications

Better then 35% of Phoenix home owners are upside down on  HOMES  including my self. I am in the process of going for a loan modifications. I will be blogging  every step of the way.
below is some good info I found for the do it yourself er    loan modification. Dont let your time run out!!!

Here are some tips for expediting your loan modification proposal with your bank or loan servicer:
1. Be prepared. According to a video produced by Freddie Mac, you can expedite your loan modification by having the following documents and information available when you call your servicer.
• Your monthly mortgage statement (which should include your loan number and property address)
• Your homeowners/condominium fees statement
• Recent pay stubs, W2s and tax returns to document monthly pretax income
• Your Profit and Loss statement (if you're self-employed), which helps a lender determine your ability to repay your loan.
• A list of your typical monthly expenses Bank of America offers a checklist)
• Documentation from other debts, such as home-equity loans
• The balance and minimum monthly payment on credit cards, car loans and student loans
• Anything that can document why you fell behind on your loan, such as a letter from your employer about a recent layoff, a utility cancellation notice or invoices for large purchases such as a new air-conditioning unit or other item that helped cause the financial hardship.
2. Make your case.  Write a solid statement about your need for a loan modification to give to your lender or loan servicer. The hardest part of the process is writing a letter about what caused you to be in financial trouble, according to Freddie Mac. But, it’s an important step. “Write out a short statement about your financial problems,” says Simon. “Be as specific as possible. It doesn’t have to be long. This helps the servicer process your application more quickly.”
3. Phone off-peak.  It can be hard to get through to your loan servicer. “Representatives are seeing an increase in call volumes,” says Bank of America’s Simon. Calling your loan servicer at off-peak times will decrease on-hold times and increase the likelihood of speaking with a professional in a timely manner. According to Simon, off-peak times are generally in the evening in the Eastern Time Zone or late afternoon in the Pacific Time Zone.
4. Don't be sloppy. Complete paperwork accurately. After the initial call, if the homeowner qualifies for a loan modification or other workout, an application packet will be sent. According to Bank of America, about 80 percent of submitted applications have omissions or mistakes. Review everything carefully and make sure all supporting documents are signed. “Incomplete paperwork takes additional time to correct and creates more delays in the process,” says Simon.
If you can’t afford your current mortgage payment, but can pay a lower one, a loan modification can help you keep your home. And, according to Bank of America, it’s a cost effective way for lenders to avoid dealing with trying to unload another distressed property— a true win-win.
By Tracey Velt, Cyberhomes Contributor

Banks Making Short Sales Tougher

Banks are backing away from short sales, forcing sellers to pay extra at closing or demanding a promissory note for the amount due. One-third of borrowers owe more on their mortgages than their properties are worth, according First American CoreLogic.

When their situations were really tough, most banks preferred short sales because they were their best opportunity to get the most money back. But with an improving economy, and because the losses on many of these properties have already been written off the books, banks are increasingly reluctant to negotiate a short sale.

Today, banks demand 9.5 weeks to respond to a short-sale request, compared to 4.5 weeks a year ago, according to research firm Campbell Communications. Their reluctance is frequently stymieing sales and frustrating real estate practitioners.

"It drives me up a wall," says Robert G. Hertzog of Summit Home Consultants in Phoenix. "[The bank is] holding my client hostage."

Source: BusinessWeek, Christopher Palmeri (10/09/2009)

Phoenix, Arizona - Short Sale or Loan modification? Which one should I do?

There are a lot of questions to ask yourself when deciding whether to do a short sale or a loan modification. Probably the biggest one is “Do YOU want to keep the house or not?”

If you’d like to stay in the home or continue to utilize it whether it be as a rental or a second home then you definitely will want to look into a loan modification. Be sure to find a reputable Arizona loan modification company as this industry is full of scam artists. I have a great Arizona loan modification company referral for you — contact me and I’ll pass them on.

Don’t want the property? A short sale may be the answer. With a short sale, you can sell the property, have everything negotiated for you, and you can start over without the mortgage headache or the negative equity following you around for the next 15 years!

We specialize in marketing and selling Arizona short sales, we negotiate all of our short sales in house, and we have a full team of resources available to you so you can have all of your questions answered.

Contact Linda Wieczorek today so we can short sell your home tomorrow!