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As of January 26, 2009, the total number of foreclosures (bank-owned property) within the following areas: Ahwatukee, Chandler, Tempe, Gilbert, and Mesa is 1219. The price range selected for these lender-owned properties is from $100k to $800k. The homes represented are single-family detached, residential ones. This may be an excellent time to purchase one of these as banks are trying to rid their books of bad debt. You can view more details on these foreclosures on our website, http://www.MyAZRealtyAgent.com. Click on the "foreclosure" link once there. Happy hunting!
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As things are today, this may be the best time to purchase a property that is a short-sale: that is, a property whereby the bank is willing to be paid less than the owed value, without having to go through the costly and time-consuming foreclosure process. Why is now a good time to get one of these properties? The government may shortly enact legislation that will encourage, or subsidize a bank's ability to reduce the collateral property value and interest rate, thereby making it possible for the owner to afford the property, and obviating the need for a short-sale, or ultimately, a foreclosure. This may occur during this 1st quarter of 2009.
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Picture an airplane that has lost partial engine power...It must now use its own weight (by descending) in order to provide enough airflow over the wings to stabilize its flight - even though it is descending, it is stable. However, given enough time, it will eventually hit the ground. The analogy to the real estate market is fairly good. As the airplane descends, the people on board are tossing heavy, nonessential equipment overboard in an effort to reduce the amount of descent required and to eventually level-off or even climb. What we are seeing with the real estate environment today is a multipronged attempt to arrest the descent. It is being effected by: recent legislation giving relief to some homeowners at risk of foreclosure, certain lenders foregoing the scheduled rate increases on adjustable rate loans, new home builders reducing their inventory, the Federal Reserve Bank is reducing their interest.....and the list goes on. There are many moves out there to preempt a crash of the housing market, both on the public and private sides. In my opinion, the market should bottom out and start gaining some altitude by the end of this year. However, buying a home, in general, is a long-term prospect, and in the long term, it looks very good! 
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Words of wisdom from my father! They are still true today. He survived the great depression, literally making his own way in the world starting at the age of 13 as his family had fallen apart and he was forced to strike out on his own during very trying times. He dropped out of school in the 8th grade! He made it to WWII, serving in the Marine Corp. and wound up on Iwo Jima during the famous assault, ducking bullets while working with the Navajo Code Talkers in the radio fox hole. After the war had ended, which he had survived, he learned to fly on the GI bill and was subsequently hired by United Airlines, where he enjoyed a distinguished and stellar career as a airline pilot until his retirement....Whew! As you can imagine, he went through a lot - the best of times and worst of times! I respect his insight - that from a man who became self-educated, and persevered through very difficult circumstances. His final passing, to me, will be sad, but he will be immortal in that the wisdom he imparted to me will never die. The title words are those that he frequently repeated, and I think about them in today's context. When the real estate market was red-hot just a short time ago, he would have counseled caution - i.e., don't necessarily follow the herd! By the time everyone had realized what a lucrative market we where in, it was too late to enter - just like a hot stock market cycle. Many people are now feeling the pain of getting in at the peak. Now look at the downturn we are in - the same caution applies - be patient, don't panic, and don't do what the herd is doing at this point. Ride it out. It will improve. The key is really to take the long view in real estate, just like in investing in stocks. Stock market timers, on average, don't fair as well as the steady investors. Buy your home to live in. Over time, it will appreciate - on average. The people hurting the most now are the ones who leveraged their assets to purchase investment property which they had intended to "flip", hence the bankruptcies, etc. Bottom line: ride through these economic waves with a steady plan and, over time, you will be in great shape financially!
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Real estate markets in the Northeast and Midwest appear to have passed their low points. Based on sales in those regions, prices are increasing on existing homes. The Dallas market, for example, is relatively hot right now. The good news is that for us out west, that turnpoint is still ahead, meaning that great opportunities still exist. Based on current trends, it appears a turn around should arrive in the fist half of 2008. This will be a result of fewer homes on the market from new home sellers and sellers of existing homes waiting for a more propitious time to sell their homes. If you are looking for a time to get a great deal on a home or property, the time appears to be close at hand. Augmenting this trend is the concommitant lowering of interest rates by the Federal Reserve Board! Happy Hunting!
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Right now, there is a solid inventory of resale homes on the market. Indications are that, by early next year, inventories will be drawn down to a more normal level as new home builders finish adjusting their supply to meet the demand and sales continue apace. So, what can home sellers do now to make their homes more competitive? A major way of differentiating your home from others is through proper staging. Home buying, being a typically emotional endeavor, can be strongly influenced by initial impressions and by the "gotcha" effect. Initial impressions begin as early as when the prospective buyer enters the neighborhood. Homes and the surrounding environment seen as the buyer approaches can have a significant impact on your home's desirability - for better or worse. There normally is not much you can do about neighboring homes except to contact the HOA or city if there are violations with regard to yard upkeep, etc. Once on your property, buyers will initially take in the overall aspects of the home, as opposed to minutia (that comes later!). Is your landscaping being kept up? Does your home's exterior need painting or repair? These areas should be addressed before listing your home. Buyers seeing obvious signs of exterior neglect will assume the interior suffers the same and that there may be hidden defects that will be discovered only after moving in. I remember entering a submarine sandwich restaurant and observed dirty floors and tables. As I looked through the glass at the yellowing, encrusted mayonnaise, I could only imagine what else was lurking in the food they would have you purchase and eat. I, needless to say, beat a hasty retreat! Having a home for sale that is not vacant can be an advantage - but only if it is kept uncluttered and clean. It helps to give buyers an idea of the beauty potential of a home by creating that atmosphere for them to see - even though they know it will all be gone when it is sold. However, what they don't want to see is what may remind them of the home they may be leaving - full of the typical clutter we all allow to crop up during the normal course of living! So, clean out those bookcases and garage shelves and store things not needed away from view. Look at your home as through the eyes of a buyer - what would you want to see? If you are one of the many people who could use some help in decorating, consider using the services of an interior decorator. (note: Marielena, in addition to being a real estate agent, is a certified interior decorator, and can help stage your home for sale). For example, I buy and sell on EBay frequently. I realize there are usually many items for sale like the ones I am trying to sell. So, I work on differentiating my item from the others by using HTML (web language) to make a nice-looking ad, and add links that lead to the manufacturer's website so that the buyer doesn't have to hunt around for more information. I make easier for them, and as a result, have no difficulty in selling my items more quickly and for a higher price that the exact same item marketed with only a couple of photos and a mono-type description. You should market you home in the same way - although through the eyes of a buyer touring your home in person. When you get an interested buyer, you can expect repeated viewings from them as they home in on your home. This is where the minutia becomes important. People initially get the overview on the first visit. On subsequent visits, they start observing more detailed aspects - dents, broken molding, tears in the carpeting, etc. Try to take care of as many of these items as possible in advance. It also makes the post-contract, buyer inspection period go more smoothly and can make it more likely that the buyer will go through with the transaction. Good luck and start working to your staging advantage!
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Well, there you have it! If you have been watching the news, you've seen what the Federal Reserve has been up to this past week. This is an example of what we were talking about in the previous post - a foreseeable unexpected twist.. All the gloom and doom types would have you believe the sky is falling and to head for the hills. If people actually listened, it would become a self-fulfilling prophecy and would lead to a world-wide depression. Fed Chariman Bernanke derailed the market doomsayers by pumping into the credit markets billions of dollars. Finally, Friday, the bank-to-bank discount rate was cut by a half point and pay-back period extended to 30 days, again, improving the lending capabilities within the credit markets. Of course, the Dow Industrial average soared. What does all this mean to you and me? It means that more money will be available for all types of loans than there otherwise would have been. This is outstanding news for the real estate market. With more money available, loans terms can be eased to include a wider pool of borrowers. This can directly, and favorably, impact real estate sales. We believe more of this intervention will occur in the coming months.
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I am certain that, like us, you are hearing a great deal of information - some of it contradictory, regarding the state of the real estate market. Based on what we are seeing in the field, the market is alive and well! So why all the gloom and doom? News programming audience patronage, that's why. The death of the upward spiralling housing market is a news story that touches virtually everyone and is an instant attention getter - it helps sell advertising - the bottom line. Think airline accidents....Although the media spends a tremendous amount of time covering airline accidents, your chances of being involved in one are about the same as winning the lottery or being hit by lighting. In contrast, one out of every 88 people will reach the end of their lives in a car accident (not to mention the millions injured every year in cars). Does the media cover car accidents proportionately? Of course not. There, in front of your eyes, is a huge distortion provided by news outlets! Getting back to real estate, yes - the market has slowed down, but, according to some seasoned observers, is now at a more normal level - not a depressed level as some would have you believe. As in the stock market, most people should view real estate in terms of long-term investment. A home is primarily a place to live. If it appreciates (and it will over the long term), so much the better. Normally, you can expect about a 5% per year increase value. This can at least compensate for the interest (after tax) you pay on a typical mortgage. The good news is that, nationwide, home prices actually increased for resales by about 2.2%. The number of existing home sale did drop a bit, however. You can expect the time required to sell your home to be longer now due to the larger number of homes on the market. Foreclosures have increased for a variety of reasons, and some will lead you to believe it is a ticking time bomb. However, nothing is ever as bad as it seems it will be. For example, right now, some states are considering earmarking money to aid people in foreclosure - helping not only those people but everyone involved in housng - mortgage companies, their stockholders, and all home owners. It may be an extremely wise use of taxpayer money given the amount of general good it would do. So, stay tuned! Please temper what you hear in the media with a large grain of salt! Get into real estate for the future and don't be deterred by temporary hick-ups.
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Hello there. My husband of 25 years, Mark, has joined me in providing you with the best real estate experience possible! He brings with him a depth managerial and negotiating experience. He holds an aerospace engineering degree with 12 years of jet engine design experience, and is currently Captain for a major U.S. airline. As he puts it, "My goal as a real estate agent is similar to that as an airline captain - to take my clients safely, economically, and comfortably to their real estate destinations!" We are looking forward to putting our combined experience to work for our clients! Welcome Aboard! 
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• 1 1/2 story
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MLS®
$272,000
Remington Trace, Ahwatukee
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Absolutely beautiful, updated single level home. Vaulted ceilings, designer paint, crown moulding - GORGEOUS! Greatroom has niche for an entertainment center. Formal dining could also be used as a den. Kitchen has all upgraded appliances, pantry and pull outs in the cabinets. Master bedroom and bath are stunning! Sun screen on all the windows. Back yard has a covered patio and is completely private. Backs to a wash. Above ground spa is negotiable. 2 car garage has built in cabinets. A/C and hot water are newer. This home has been impeccably cared for. Don't miss this great deal!
Property information
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