Scammers

Tuesday, September 25th, 2007 | Money, Real Estate | No Comments

Phil wrote me about an article about scammers. Read the article. Phil also sent me the name of a company in the Florida area that is the first of a list of mortgage scammers.

I find it rather disappointing to see so many who are anxious to take from those who are vulnerable. But then I remember how often Americans jump on board to help just about anyone in need. We give more freely than any other country in the world. Even now there are still those who are volunteering to help rebuild from the Katrina flood damage. They get no pay, just hard work in a difficult place.

W hen it comes to important decisions, do your due diligence!

I need to sell my home — what should I do?

Wednesday, September 19th, 2007 | Real Estate, Statistics, The Economy | No Comments

I was speaking to a woman who lives in Tucson this week. She says she needs to sell her house right away. I told her she would need to “find alternatives!” There are some communities where homes are still selling reasonably well. Unfortunately, many areas have high inventory of properties. Checking the Arizona Regional Multiple Listing Service (ARMLS) report, there are 47,563 single family homes listed as active or active with contingencies. The home sales in August dropped to 4,358. Normally August is the last of the best months of home sales in a year. In the home sales report of 2001 to 2007, last month is the slowest August of the seven-year period. These figures don’t contain expired or canceled listings. Selling your home now is pretty much like trying to sell rain water in a thunderstorm. If you have a property that you will not be able to handle, think things through and look for alternatives.

• Many people think the word “rent” is a vulgar four-letter word. If you have purchased and have little equity, renting means negative cash flow.
• Lease to purchase is similar to rent, but done correctly, it may have some advantages
• If you are still living in the home, take in a roommate
• Investigate the possibility of a short sale
• Sell to a wholesaler
• Check government programs, there may be some more options coming
• Don’t allow fear to govern your thinking

Phil has found some interesting articles

Sunday, September 16th, 2007 | Money, Real Estate, The Economy | No Comments

One article that Phil sent for posting concerns a plan to help home owners that need to refinance to a better mortgage. Some of the arm loans will be increasing substantially. This article is one possible solution.

If you have your mortgage serviced by American Home Mortgage or know someone who has a loan serviced by them, this is a very important article that you must read!

This last article comments about mortgage rates. Rates fall!

The Bush Administration to the Rescue?

Tuesday, September 11th, 2007 | Investment, Real Estate, The Economy | No Comments

This administration has its advocates and detractors. In fact, in my lifetime I can never remember such polarized political positions. Be it as it may, one thing that most of us can agree is that this administration will act in response to situations versus just mouthing platitudes or doing nothing.

Phil has sent me this link to post about the potential results of the Government’s plans to help home owners from losing their homes. The bail out plan. I found the short article encouraging.

What is a loft and why would I want one?

Thursday, September 6th, 2007 | Real Estate | No Comments

We are starting to see the word “Loft” in a lot of places around the Valley; Central Phoenix, Scottsdale, Glendale, and even Surprise.

“Why?”

Because this is hottest trend in luxury living providing the “high life” exclusively for the exceptional executive!

“Hip, industrial-looking lofts are becoming a hot investment for baby boomers and young urbanites. Urban dwellers say there’s a whole culture associated with loft living. They want to be close to entertainment, food, drinks and sports.” Erica Sagon,
The Arizona Republic

There is a high demand for this new lifestyle. Luxury loft living replaces yard maintenance and morning/evening commutes with starry evening in a Jacuzzi with fabulous views. With events and shopping usually just a stroll away, many are turning from the traditional tedious ‘burbs’ living to finally enjoying the luxury life filled with relaxation and rejuvenation. Local amenities such as a fitness center, pool, etc. create a desirable atmosphere exclusively for the professionals who like to be in the middle of it all.

You might find that this is a lifestyle for you or someone you know.