The Arizona Association of Realtors released a new Residential Resale Real Estate Purchase Contract on February 1st, 2017. While the new contract includes some welcome changes, one requires that buyers adopt a heightened level of awareness when making one of the most expensive investments of their lives. This change relates … [Read more...]
Should I get prequalified for a loan?
Put the Horse before the Cart! Yes! When it comes to getting your loan lined up, the sooner, the better! My team often requires that buyers speak with a lender and secure a prequalification letter before looking at properties. This is a relatively simple process that involves the lender pulling your credit score, … [Read more...]
Should You Buy a Home in an HOA?
The Beast Explained... A Home Owner Association, or HOA, is a corporation that maintains and protects the overall property values of a particular subdivision. An HOA is managed by a volunteer board of directors (most likely made up of home owners who are elected by other home owners) that is supported by a professional … [Read more...]
Buy a Home Today and Save $135,000 Towards Retirement!
“If you are planning to buy a home in the next year, it’s better to do it sooner rather than later,” Frank Nothaft, Freddie Mac’s chief economist, said in a recent video commentary. With 30-year mortgages dipping below 4%, buyers are in a strong position to afford more home than they could 10 years ago. Think of it this way, … [Read more...]
How to Prevent a Housing Affordability Crisis
The American Enterprise Institute recently reported that the risk of mortgage defaults under stressful economic conditions hit an all-time high in April. Their research indicates that almost 12% of all mortgages could be at risk of default in the event of another economic downturn. When we look at the type of loan issued, 25.12% … [Read more...]
