Forbes Magazine Suggests 203K Loan May Be the Way to Buy That Fixer-Upper
Are you interested in buying a fixer-upper, but don’t have the cash to remodel it? Or maybe you have saved money for remodeling and you’ve found a house you love, but your lender won’t allow you to buy it because the house isn’t considered habitable without toilets. The Government insured 203K Loan may be for you. Read More…………………..http://tinyurl.com/23wyftw
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Henderson Real Estate AZ, Buyers Buy Distressed Properties and Eliminate The Middle Man
In case you have missed it, we are in the midst of a housing crisis. Incongruous as it may seem, there are many folks who want to buy a house and there are lots of houses for sale. In normal times, this would mean lots of sales with the inevitable result that buyers, sellers and the real estate community would be happy. However, this not the case.
The problem is the quality of the inventory available for sale. Most properties listed today are foreclosures, used, abused and in need of lots of Tender Loving Care. Some have been rehabed by investors and put on the market at a premium. Buyers grab up these cream puff properties, like sharks at a feeding frenzy. Every property gets four, five or more offers. One lucky bidder gets the property. The other frustrated buyers begin their search again looking and waiting for the next cream puff. There are not enough of these cream puff homes to go around. Buyers are frustrated and investors keep buying distressed properties, doing repairs, carpet and paint and selling the rehabed properties, at a premium, to buyers looking for the elusive cream puff.
Here at Henderson Real Estate AZ, we did a quick check of the ARMLS listings and noted that there are 6,018 lender owned (foreclosed) properties on the market today. Many of these foreclosed properties are in disrepair and will require time and money to rehabilitate and make them marketable. Obviously, there are not enough investors to handle this huge inventory so these properties will languish, blighting neighborhoods well into the future. All the while, frustrated buyers keep looking for the elusive cream puffs, like dogs chasing their tails. As gruesome as this situation appears, there is a relatively easy fix.
There is a solution, a very little discussed solution, The United States Government has a product called a 203K loan. The 203K loan program is not new. It has been round for a long time. The good news is, despite being around for a while, the 203K Loan Program was made for our times and our current situation. In a nut shell, buyers can buy one of these distressed, foreclosed, properties, at discount prices, and bundle the cost of repairs into their 203K loan. Buyers can buy the distressed property at a discount from the lender and make the repairs. They can pick their own colors, just like in a new build home purchase and make their own cream puff. In effect, buyers can cut out the middle man, the investor. In Maricopa County, buyers can buy a property valued at up to $346,250. (including repairs.) No more looking for cream puffs. No more middle man. Buyers can create their own cream puffs.
Buyers win. The neighborhood wins. The housing crisis is closer to turning around. Win! Win! Win!
Henderson Real Estate AZ and the 203k Loan. “Doing Our Part To Solve The Housing Crisis, One Family, One House, One Neighborhood At A Time!”
Chandler Arizona Is A Great Place to Live!
Chandler, Arizona is a city in Maricopa County, Arizona, south and east of Phoenix. Chandler is a prominent suburb of Phoenix, Arizona. It is bordered to the north and west by Tempe Arizona to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community and to the east by Gilbert, Arizona. The population was 240,595 according to the 2006 estimate. It also has satellite locations for the technology companies Intel and Orbital Sciences. Despite it’s high tech Cachet, Chandler is still home to many agricultural operations which include several dairy farms. Chandler has great schools, parks and restaurants. Chandler Arizona Is A Great Place to Live!
Scottsdale, Arizona-Favorite Pastime-Celebrity Watching!
Scottsdale, Arizona is a city in the eastern part of Maricopa County, adjacent to Phoenix. As of 2010 the population of the city was 245,500. Scottsdale is regarded as an upscale tourist and shopping destination and as a representation of western American Style. The New York Times described downtown Scottsdale as “a desert version of Miami’s South Beach” and as having “plenty of late night partying and a buzzing hotel scene”. Golf Courses and Resorts abound. Celebrity watching is a favorite winter past time as Scottsdale hosts the jet set from around the world.
Has Your Property Search Worn You Down???
Are You Tired of Searching and Searching to Find The Perfect Property Only To Make An Offer and Lose Out Because Another Buyer Outbid You? Great properties Are In Short Supply! There Is A SOLUTION!!! Your New Home Is Waiting For You And For Much Less Than You Can Imagine.Take a Quick Look At This Presentation! You Will Be Amazed! You Can have The House of Your Dreams Without The Hassle of The Bidding Wars!
Beautiful ranch style home on over an acre with horse privileges and a guest house! Main home has three bedrooms and 3 baths with a large family room with brick wood burning fireplace. Water softener and RO water systems convey as is. His and hers closets and bathrooms off the master bedroom. Tack room / storage building is 14 X 20 and the covered patio is 13 X 29 . Guest house has 3 bedrooms / 1 bath with MasterKool & AC, own alarm and has been recently remodeled. Show and sell the very beautiful property today!
2881 E Fandango Dr Gilbert, AZ 85298 2570 Sq. Ft Home on large lot – 4 bedroom/3 bath PLUS den – Seville Golf & Country Club ***THIS IS IT!!!*** An absolutely immaculate property at an amazing price! Over 75k worth of upgrades! 4 bedroom/3 bath PLUS a den and features beautiful Hickory wood floors, custom tile, upgraded carpet, and a wonderful kitchen! Raised Cherry Square cabinets with uppers & crown molding, stainless steel Profile appliances, granite slab countertops, kitchen island,breakfast nook, Moen faucet, chef’s sink, and more! Satin nickel hardware throughout, ceiling fans, security system, recessed lighting, raised vanities in the baths, wood shutters on the windows and so much more!! The backyard has AMAZING views of the mountains and is meticulously maintained & landscaped with pavers, grass, and trees. A wonderful home with lots of room and will go fast!! Priced to sell! ***Hurry!*** —– Formore information and pricing on this and other properties please visit us at www.SearchHomesAz.com. If you would like me to show you the property please call me now at (480) 241-4406. If you are upside down in your home and owe more than its worth then we can help!! Visit our website at http for more information Free Consultation and NO FEES to you ever for our services!! Thank you. Sean Bonini Associate Broker/Real Estate Agent Arizona Realty One Group Scottsdale, Az (480) 241-4406 Direct www.AzHomeHelp.com
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by Allen
Scottsdale, Arizona Real Estate Investing
There are several factors to consider when thinking about investing in Arizona Real Estate. Is this a short term or a long term investment? Is this going to be a rental property or a personal residence? Is this going to be a vacation home? Before jumping into an investment property, it may be a good idea to ask your self what type of investment is going to fit your needs.
The days of flipping houses have seem to come to a screeching halt in Arizona. A little over a year ago this was extremely common because there were too many buyers, and not enough sellers. The inventory was very slim. Now, the inventory has seemed to increase, not enough buyers and too many sellers. Obviously, when this happens prices drop.
There is no way to predict future market conditions, but now may be a good time to start purchasing property in Arizona. The sellers are giving extraordinary incentives and the interest rates are relatively low. To make an informed decision, some might think to take a look at what is happening around them.
The price of homes have been dropping, that is not a secret. When the prices of homes start dropping, this may be an indication of a market fluctuation. When the market fluctuates it is a good time to be in the right place at the right time. Many lenders have gone out of business because there is such a high foreclosure rate. It is becoming harder and harder for people with marginal credit ratings to obtain a loan. This may be an indication that the rental market is about to get stronger.
When lenders start going out of business, and the remaining lenders tighten up their criteria, not as many people can qualify to purchase a home. People have to live somewhere, so their only other option is to rent.
When investing in Arizona Real Estate, it is important to analyze the rental market of the area you may be thinking about purchasing. It is also very important to know what your payments are going to be and how much you need to put down in order to have even or positive cash flow. If you are going to purchase a home to rent out, make sure that your payments are close to what the rental rates are in the area. To find out what the rental rates are you can ask a qualified Realtor to tell you what is currently on the market for rent in the area, and what has recently rented out. Basically, you are doing a comparative market analysis on the rental market in the area you are thinking about buying. Most qualified Real Estate professionals can help you with this.
It is extremely important to find a Realtor to represent your best interests when investing in Arizona. The difference between a good Realtor and a bad Realtor could cost you thousands of dollars. Make sure your Real Estate professional is experienced, educated, and knowledgeable of the area you are thinking about buying in. Above all, make sure your agent is aggressive.
In order to get the best price possible with the current market conditions, it is imperative to start extremely low regarding an offer to purchase. Rarely is the sticker price the purchase price. A good Realtor that is representing an investor may see a home for three hundred thousand dollars, offer two hundred and fifty thousand, and have the seller pay for all of the investors closing costs. Will the seller except this contract? There is no way to know for sure. All the seller wants to know is how much money they are walking away with in most cases. If the seller will have to pay to close escrow the contract will probably not fly. It is always a great idea to find out how much the seller owes before writing an offer on any home by having your Realtor look at the tax records. This way, you know how much flexibility you have. A desperate seller with an enormous amount of equity may have some opportunity.
Make sure when you are investing in Real Estate in Arizona, you have proper representation, you do your homework with your agent, and know that there is risk involved. Like any investment, there is risk involved. There is no way to determine future market conditions. Real Estate markets are cyclical. What goes up may very well come down. It is better to have an honest Realtor that tells you the truth versus a Realtor fluffing the truth that may cost you a lot of money. If you need a good, honest, hard working aggressive Realtor to help you with any and all of your Arizona Real Estate needs, please click on the link below to visit an extremely helpful website to get you in contact with a professional Realtor in Arizona.
Phoenix Home Rentals, Homes for Rent in Phoenix AZ, Apartments … Phoenix Rentals – Homes for Rent in Phoenix, Apartments, Rental Homes in Phoenix, AZ, Houses for Rent and Other Rental Houses in Phoenix, Arizona …Ahwatukee – Peoria – Avondale – Cave Creek www.rentals.com/Arizona/Phoenix/…
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