Your Source for Fountain Hills News and Real Estate Information: December 2012

Wednesday, December 19, 2012

Are Your Selling Expectations Realistic for Your Fountain Hills Home?

If you are thinking of selling your Fountain Hills home, you probably have three main objectives:

1. Selling your home for the highest feasible price.

2. Selling your home as quickly as possible.

3. Selling your home with a minimum amount of contingencies.

As your experienced Fountain Hills real estate professional, I understand these goals and I will help you meet them!

I also want to share insights from a survey by HomeGain, which says that 75% of home sellers believe their home is worth more than more than their agent's recommended price.

This isn't surprising. After all, your property tax assessment may be higher than the market value of your home. Your replacement cost in your home insurance policy may be higher than the market value of your home. It only stands to reason that your personal opinion of your home's value may be higher than the current ma rket value.

But I'm going to tell you what your home is likely to sell for, given current market values and recent home sales in your neighborhood. After all, selling y our home and experimenting with the market are two different things. Over-pricing your home just to "see what happens" usually backfires, and here's why:

1. Most home buyers need mortgages, and mortgages require appraisals. If your home fails to appraise for the sales price, there's no deal.

2. The first 30 days on the market are critical. If your home is over-priced, buyers are likely to avoid it, which extends your days on market. The longer your home lingers on the market, the more it has to compete with new listings, and the weaker your negotiating position becomes.

Getting top dollar for your Fountain Hills home begins with a realistic assessment of your home's competitive strength in the market! With over 30 years of experience in Fountain Hills real estate, I have helped home sellers succeed throughout all market conditions! When you have questions about selling your home, call me! I will be happy to help you!

Tina Nabers
Nabers Property Management & Real Estate
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Wednesday, December 5, 2012

FHA "Flip Rule" Extension Benefits Fountain Hills Investors and Home Buyers

House-flipping became a dirty word during the downturn of the housing market, but the practice is back in vogue. It also has the conditional blessing of the Federal Housing Authority. This is good news for property investors and home buyers in Fountain Hills. Here's why!

Arizona property investors have been an essential part of our housing recovery. They absorb foreclosures, repair distressed homes and either return them to the market, or rent them out. As attractive as buying a foreclosed home on the cheap may sound, most home buyers are not financially equipped to deal with a home that needs extensive repairs.

Recognizing the important role investors play in the housing market, the FHA has extended its blessing of "house flipping" by allowing buyers to finance homes that have been owned by the seller for 90 days or less. Inman News has an excellent article on the subject, and I'm going to touch on the main points.

1. The home purchase must be an "arm's length" transaction, meaning the buyer and seller cannot be working together, or be in cahoots in any way. The seller must also provide good chain of title proving their ownership.

2. If the home sale price is 20% more than what the seller originally paid for it, the seller must show documented proof of repairs, or provide other detailed, viable explanations to justify the markup. The FHA may require a second appraisal to validate the price.

3. If a 20% markup is involved, a home inspection is mandatory, and the buyer will be provided a copy of the report. Any significant defects would require full repair before an FHA-backed mortgage would be approved.

These sensible guidelines protect home buyers, and empower them to purchase "flipped" homes with FHA mortgages. In turn, property investors have a wider market of qualified home buyers.

If you are a first-time home buyer, you won't recognize a "flipped" home from any other on the market. As your Accredited Buyer Representative, I can verify the last sale date of the home and confirm whether or not you may be looking at a flip. There's no need to avoid them, but you will want to be aware of this type of seller and do your homework. I will help you!

Let me be your guide to the Fountain Hills real estate market! I have helped Arizona home buyers and sellers for over 30 years, and I'd like to help you too! I will provide you with expert, professional representation throughout the home buying process. This saves you time and money, and protects you from potential headaches.

Contact me today and find out more about home buying in Fountain Hills!

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Hi, my name is Tina Nabers. Selling Real Estate in Fountain Hills is not a job for me, it's a lifestyle. I relocated with my family from Tempe, Arizona in 1973 and began working in what is now the oldest real estate office in Fountain Hills (Nabers Realty) in 1977. I have literally grown up in Fountain Hills since it began.

I am a full time Realtor and believe ongoing education is key to staying on top of the dynamics of the real estate industry. Besides taking the required 24 hours of education every 2 years, I like to take additional real estate classes to further expand my awareness of the changes occurring yearly in this industry. I currently hold the designations of Accredited Buyer Representative, Graduate of the Realtor Institute and have my e-Pro designation which is the National Association of Realtors Technology Certification Program.

With my dedication, knowledge and reliability, I have assisted hundreds of Buyers, Sellers, and Investors realizing their dream of owning real estate in Fountain Hills. I'm sure I can help you too! I know the market and the market trends, after all, I've lived thru a couple of them myself over the years! THIS IS THE BEST PLACE TO LIVE, WORK & PLAY. I know because I do!

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Nabers Property Management & Real Estate is a full service real estate company with over 30 years of experience serving the community of Fountain Hills, Arizona. Conveniently located in the center of town, we invite you to stop by our office and introduce yourself. We are members of the Scottsdale Association of Realtors, Arizona Association of Realtors, National Association of Realtors and the Multiple Listing Service.

Whether you are a first-time buyer, property owner or investor, long term tenant or a visitor looking for a seasonal rental, Nabers Property Management & Real Estate Company can assist you with all your real estate needs.

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Fountain Hills has been well known for its Fountain, its Great Fair, its Fountain Festival, its magnificent mountain views and very friendly people. Back in 1993 it was voted as one of the "50 Fabulous Places to Raise Your Family" and was featured on Oprah. After that review the community quickly became both a vacation Mecca as well as a place for permanent settlement. Accommodations from resort condos, bed & breakfasts and full service hotels have attracted vacationers as well as home hunters and investors. In the May, 2006 issue of the Phoenix Magazine's Annual "Best Places to Live" in the Valley, Fountain Hills was voted #1 out of 22 Valley communities!!

It was based on such issues as property tax rate, population, crime, school test scores and student-teacher ratios, park acreage and miles to Sky Harbor Airport, to name a few. When asked by visitors if Fountain Hills is a nice place to live we suggest they go to any local grocery or retail shop and at random, ask any shopper the same question. Obviously, residents will give the most objective answer and, as we can corroborate, we feel it is "one of the best places to raise a family", live, work and play.... Read more about Fountain Hills!