Archive for December, 2011


by: Maria Hass

Our market today is filled with investors waiting to pounce at the best deal in town. There are Realtors who work well with investors and others who prefer not to touch them. To find out whether working with this type of buyer is right for you, here are a few tips on experienced investors.

1. Investors don’t care about the house, they care about the price – Investors make multiple offers to homes they have not even seen and hope that one of these offers will agree to their low ball price. It’s like throwing a dart at the map and hope that one of them sticks.

2. Investors are busy people or at least they pretend to be – These type of buyers don’t have the time to sit and talk about their goals and the process of home buying. They just want a good deal or they walk away.

3. Investors don’t value the time you spent helping them find a good deal. – All they care about are results and whether or not they purchased a “screaming deal”. Be weary of taking on an investor who you don’t know from Adam. Their loyalty is to no one but themselves. Unless, you have a lot of time to spare, these type of buyers could easily walk away and drain you up regardless of where you are in the home buying process.

4. Investors may have the cash but will not purchase – It doesn’t mean that because they have the cash, that they will purchase a home. It’s got to be the right one! Be ready to make a lot of low ball offers or show many homes and NOT get paid.

* To become successful in working with investors, be upfront about what to expect in today’s market. Be precise about what you expect from them if you were to help them with their investment purchase. If they agree to your terms, it will make the process go quicker and smoother. If they don’t, run away as fast as you can. Also, ask them a lot of questions about their past home search, pending offers, Realtor representation, proof of cash, employment and more to find out if they are worth your time and effort. There is nothing more frustrating than working long hours with a buyer and NOT get paid.

December 23, 2011 at 8:46 am 1 comment

Chandler Zip Code Highest in the SE Valley Short Sales

by: Maria Hass

The Arizona Republic recently reported that the Chandler zip code of 85225 has the highest short sales in the SE Valley with 178 homes. This comes as a surprise since majority of distressed homes usually come from cities in the West side of town where housing development took place during the 2005-2006 real estate hype and most houses were overvalued.

The report explains that the high short sale figures in zip code 85225 was due to its fairly big area and homeowners taking out cash to buy a boat, investment property, pay off credit cards and more. Since home values tanked, many homeowners are upside down on their mortgage and took the short sale route to get rid of the house.

At present, the short sale count surpassed foreclosure homes. Successful short sales are increasing which means that there will be less foreclosures resultling from approved short sales. One can find a great deal at buying short sales if the buyer can wait and the short sale is approved by the seller’s lender.

For a full story click on

December 12, 2011 at 2:50 pm Leave a comment

FHA Loan Limit Increase and Today’s Interest Rates in Arizona

Here is the latest on mortgage information and rates from our HomeSmart Financial Expert Ryan Halldorson. Rates are incredibly low and prices are a steal. So, if you are in a position to buy, don’t wait.

FHA Loan Limits Increase
Effective immediately, FHA loan limits are back to $346,250. They had been dropped to $271,050 in October. The max loan amount will stay at $346,250 until December 31, 2012. This change will apply to all FHA case #’s issued after November 18, 2011. An FHA case # is established by the lender at the start of an FHA loan. Conventional loan limits will remain at $417k

Interest Rates as of 12/8/2011 Rates based on a 200k Primary Residence Purchase or no-cashout refi (unless description below says differently), 740+ Credit, assuming 0% loan origination fee and 0% in buydown “points” (you can also choose to pay “points” and get a lower interest rate). Please note, this information is intended for Real Estate Professionals.

96.5% FHA 30 Year Fixed = 3.875% (Requires MI)
75% 30 Yr Fixed = 3.875%
80% 30 Year Fixed = 4%
95% 30 Year Fixed = 4% (Requires PMI)
97% 30 Year Fixed = 4.125% (Requires PMI)
80% 30 Year Fixed = 3.875%
80% 15 Year Fixed = 3.375%
80% 10 Year Fixed = 3.25%
125% Refi = 4% (No PMI, must be Fannie backed loan currently)
90% 2nd/Vacation Hm 30 Yr = 4% (Requires PMI)
80% Investment Property 30 Yr Fixed = 5%
75% Investment Property 30 Yr Fixed = 4.375%
100% USDA/Rural 30 Yr Fixed = 4.25% (No PMI required)
100% VA 30 Year Fixed = 4% (No PMI required)
80% 5 Yr ARM = 3.125%
80% 5 Yr Jumbo ARM to $1M = 3.75%
80% 30 Yr Fixed Jumbo to $1M = 5.25%

Contact Ryan at 602.793.7204 for any mortgage questions.

December 8, 2011 at 3:00 pm 1 comment



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