Tuesday, February 25, 2014

7 Mortgage Qualifying Tips for Fountain Hills Home Buyers!

Home buyers in Fountain Hills often share a common concern: namely, how to qualify for the best mortgage! Getting approved for a mortgage at the best rate and terms takes a little planning. Here are seven mortgage qualifying tips to help you!

1. Keep good financial records. Your lender will want copies of your last 2 years of income tax returns, copies of recent bank statements, proof of income, and copies of your retirement accounts. If you receive any portion of your income in cash, be sure to document the source.

2. Minimize outstanding debt. For mortgage underwriting purposes, your total monthly debt payments, including your mortgage, consumer loan payments, credit cards and so on, should not exceed 43% of your monthly income.

3. Show good savings habits. Lenders love to see a consistent pattern of savings - including automated payroll deposits into a savings account, and regular contributions to a 401k. The deposit amounts do not need to be large; showing consistency is key.

4. Clean up your credit history. Even if you believe your credit is good, you should review your credit history at least once a year. Lenders prefer to see credit scores at 720 or above for a conventional mortgage. FHA loans will consider scores in the mid-600's. You can obtain your credit history from annualcreditreport.com and your score from MyFico.com.

5. Have a good down payment. While FHA mortgages allow as little as 3.5% down, you will be forced to carry mortgage insurance for the life of the loan. This can be $75 or more on top of your monthly payment. Instead, you could obtain a conventional mortgage with at least 5% down, and carry mortgage insurance until you have enough equity to waive it. In order to completely avoid mortgage insurance, you would need a down payment of at least 20%. 

6. Show a consistent work history. As a rule of thumb, lenders prefer to see you at the same job for at least 2 years. Consistency in your line of work is also a positive.

7. Don't rock the boat. Once you are pre-approved for your mortgage, keep your financial picture consistent through closing. Do not take out new credit, or close old lines of credit. Avoid changing jobs. Any financial changes can cause your lender to delay, or even revoke, your final loan approval.

Ready to speak to a mortgage lender? Let me help! As your Accredited Buyer Representative, I will refer you to trustworthy mortgage lenders, and help you throughout the home buying process. I have helped Arizona home buyers for over 30 years, and I'd like to help you too!
 

Tina Nabers
Nabers Property Management & Real Estate
Check Out My Website
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Monday, February 10, 2014

Fountain Hills Welcomes The Great Fair and Memorial Golf Tournament!

Fountain Hills will welcome visitors from near and far during the Great Fair of 2014! Now in its 27th year, the Great Fair has become one of Arizona's most famed events.

This year, the annual Great Fair takes place on February 21 through 23, from 10:00 a.m. to 5:00 p.m. Admission and parking are free!

The Great Fair is a juried art show that attracts nearly 500 highly-talented artists and craftsmen from around the world. Materials and mediums of every imaginable type are on display during the event.

One-of-a-kind artistic creations will be available for purchase, including sculptures, wood carvings, jewelry, paintings, photography, metals and more. This is the perfect place to find gifts, conversation pieces and accents for your home and yard.

Don't worry about the weather - the Great Fair takes place rain or shine! There are also plenty of shady areas and rest stops to keep you comfortable. While you're there, enjoy live music and entertainment, delicious food and the popular beer garden. After the fair, savor local cuisine at our fine restaurants. There is something to please every palate!

Pro golfers and aspiring amateurs return to Fountain Hills for the 2014 Memorial Championship Disc Golf Tournament! Tournament begins February 26, events end March 1. You must have a 2014 PDGA membership to enter as a contestant, but spectators are welcome.

Arizona's reputation as a golf mecca is well-earned, thanks to challenging, professionally-designed courses surrounded by breathtaking scenery. Come to Fountain Hills for the Great Fair, and stay for our 5 world-class public golf courses!

Let me be your guide to beautiful Fountain Hills! If you'd like to take a look at our wonderful homes for rent and sale, please let me know!

Tina Nabers
Nabers Property Management & Real Estate
Check Out My Website
See Homes for Sale in Fountain Hills
Become a Fan on Facebook
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Tuesday, January 28, 2014

Winter Weather Warms Up Home Searches in Fountain Hills!

As much of the nation grapples with the most brutal winter in recent memory, homeowners in Fountain Hills can count their blessings! Our weather forecast calls for sunshine and temperatures in the 70's during the next two weeks. No snow, no windchill, no frostbite...no wonder so many people look to warm-weather states like Arizona for vacation homes and retirement property!

Home buyers from around the country are looking at homes for sale in places like Arizona and Fountain Hills right now. According to Trulia, as the mercury goes down, home searches in sunbelt states heat up! From December 1 through January 21, warm-weather states saw a 4.4% increase in home search activity, each time northern temperatures dropped by 10 degrees.

Specifically, home searches in metro Phoenix went up by 6.9% as temperatures dropped elsewhere! The only metro scoring higher in home search activity was Miami at 7.3%. (We may be biased, but the better real estate deals are here in Arizona!) As a whole, home searches in warm-weather vacation areas are up by an average of 5.5%.

Migration to sunbelt states has been going on for decades. This winter has provided extra incentive for residents of the frozen north to shop for better weather! And with our advanced medical centers, Fortune 500 companies, and excellent golf and recreation, the Phoenix-Scottsdale area will continue to attract home buyers. People may visit for the climate, but they stay for the lifestyle!

If you are thinking of selling your Fountain Hills home, now is the time to obtain expert advice and prepare for your opportunities on the market. Spring break is just around the corner, and our tourism season can turn into home buying season! Get started with my free e-book, "450 Ways to Sell Your Home Faster!"

Let me help you with home staging tips, top-dollar strategies, and more! Contact me for your personal home selling consultation. I'll be happy to share the latest homes sales activity and trends!

Tina Nabers
Nabers Property Management & Real Estate
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Tuesday, January 14, 2014

Selling Your Fountain Hills Home in 2014? 4 Steps to Take Now!

Fountain Hills home sellers have reasons to be optimistic in 2014! Foreclosure inventory in Arizona has dropped by 50% from a year ago, according to data from CoreLogic. Median home prices in the Phoenix-Scottsdale area saw gains through much of 2013. Will the momentum continue in 2014?

Some analysts say yes, some say no! Early pessimism hit when home prices stalled during the last couple months 2013. However, this may have been partially due to the Federal budget wrangling that dominated headlines at the time. When you consider that home inventory in Fountain Hills remains low, while demand among home buyers and investors remains strong, there is certainly room for price growth in our market.

This year, some home sellers in Fountain Hills will do better than others, no matter what the market conditions. A top-dollar sale comes when you show your home at its best! I have proven strategies for you in my popular e-book, "450 Ideas to Sell Your Home Faster!"  It's completely free, and I encourage you to obtain your copy today. I'm sharing some quick tips with you now!

1. Start eyeing your competition. Take a look at homes for sale in your neighborhood, and ask about recently sold prices. I can show you Fountain Hills market information that includes original listing price, final sales price, days on market, and more.

2. Get a home inspection. You might be so used to that dripping faucet that you don't even notice it anymore. Same thing for the rattle in the dishwasher, or the loose railing on the deck. A home inspection is a good way to evaluate your home's condition objectively. If issues are found, you may not have to fix everything in order to sell - but you will need to price your home accordingly.

3. Spruce up the home interior. Fresh paint, polished floors, and sparkling clean kitchens and baths appeal strongly to home buyers. Remove clutter - for good! Get in the habit of keeping your home in ready-to-show condition.

4. Have a sale plan. How fast should your home sell? How much profit can you reasonably expect from the sale? These questions can be answered by obtaining a pre-sale consultation. I will conduct a comparative market analysis, and present you with a net sheet that estimates your potential home sale price, projected transaction expenses, and estimated cash at closing.

It's never too soon to get started! I have many more home sale strategies and staging tips I'd like to share with you. Contact me today, and find out how we can sell your Fountain Hills home for top dollar in 2014!

Tina Nabers
Nabers Property Management & Real Estate
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Monday, December 30, 2013

Credit Card Protection Pointers for Fountain Hills!

By now you've heard the news about the financial data security breach at a major retailer. What you may not know, is that this type of problem occurs more often than you hear about - to the tune of nearly three billion dollars a year!

In fact, the weeks surrounding the holiday season are the most popular for credit and debit card fraud. This is because busy shoppers are less inclined to read over their statements, and more likely to disregard transactions that they don't remember.

Data thieves take advantage of this fact, so now is the time to be extra vigilant! Here are some pointers to help Fountain Hills residents!

1. Get receipts. Some businesses only issue receipts by request. Be sure to get a receipt and take a moment to verify that your total is correct. Keep your receipt for verification against your billing statement or bank account.

2. Check your account activity. Reconcile your receipts against your online transaction record or billing statement. It only takes a few minutes a day! Make a habit of checking your accounts, even if you have not made any purchases lately.

3. Question transactions you don't recognize. Your bank or card issuer can provide more details to help you verify the legitimacy of the charge. Don't be embarrassed about verifying small transactions! Thieves often try a small "test" before hitting you for more.

4. If you suspect that your card data is at risk, take action. Why wait for a problem? If you have good reason to believe that your card information has been compromised, close the account and open a new one. Your bank or card issuer can make sure that pending, valid transactions are still honored.

5. Don't carry all your cards with you. The fewer cards you carry along, the better. Plan your shopping trips ahead of time and only bring the cards that you need. Lock away the rest.

6. Never leave the tip line blank. If you are not leaving a tip, strike a line through this area. Do not fill in the tip line with zero, because someone could write numbers around it. Read the receipt, and make sure the total charge is correct.

7. Avoid card skimmers. Data theft devices can be placed on ATMs and gas station card readers. Whenever possible, complete your transactions inside with a clerk.

8. Watch your card, and watch your back. Smart phones are everywhere, and thieves can easily photograph your credit or debit card once you hand it over. Pay attention to whoever is handling your card.

Also watch the area behind you. If you are about to ring up a transaction, but the customer behind you seems to be a little too close - and they have a phone in hand - excuse yourself and exit the line. Pay attention to your instincts!

If you are thinking of buying a Fountain Hills home in the near future, take extra precautions with your credit! An ounce of prevention is worth a pound of cure.

As your Accredited Buyer Representative for Fountain Hills, I will always look out for your best interests! Please contact me whenever you have questions regarding Fountain Hills real estate!

Wishing you all the best in the New Year,

Tina Nabers
Nabers Property Management & Real Estate
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Tuesday, December 17, 2013

FHA "Back to Work" Mortgage Helps Buyers Return to Home Ownership

If you previously lost a home to foreclosure, or experienced a bankruptcy or short sale, there's good news: you might be able to buy a home again, sooner than expected!

A new mortgage loan program by the Federal Housing Administration paves the way for a return to home ownership. This is great news for Fountain Hills real estate!

The "Back to Work" mortgage program is designed for prior homeowners who experienced foreclosure, or other adverse action, because of a temporary income loss. This is not a miracle cure for every situation - but it should help a significant number of people. Here are the basic requirements:

  • Documentation to prove the cause of the income loss. 
  • Loss of income must have been involuntary in nature. 
  • The income loss must have accounted for at least 20% of household income. 
  • The income loss must have lasted for at least six months.  
  • Proof that your income has recovered enough to afford a new mortgage.

The lender will review your credit history before and after the income loss period. They will be checking to see if your credit was good before the income loss - and if the income loss caused the foreclosure, bankruptcy, or short sale. There are a couple more requirements:

  • Credit history must show no late payments during the past 12 months.
  • You must complete housing counseling through a HUD-approved agency. The counseling can be completed in person, by telephone, or through online sessions.

The standard FHA mortgage conditions also apply. While the Back-to-Work mortgage program shortens the timeline to return to home ownership - it doesn't shorten the mortgage process! However, it gives former Arizona homeowners a good opportunity to buy a home again, before home prices and mortgage interest rates climb further.

Let me provide you with professional guidance for our Fountain Hills real estate market! As your  Accredited Buyer Representative, I will refer you to trustworthy mortgage lenders, and help you throughout the home buying process. I have helped Arizona home buyers for over 30 years, and I'd like to help you too!
 

Tina Nabers
Nabers Property Management & Real Estate
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Friday, October 11, 2013

How Home Inspections Help Buyers Avoid the Money Pit



You’ve made an offer on a Fountain Hills home and it’s been accepted, but before you start packing boxes for your move there’s one more important step in the home-buying process – the home inspection.

A professional home inspection is key in making sure your new home doesn’t have any hidden flaws or major repairs that may have gone unnoticed at first glace. Plus, an inspection can give you added confidence and peace of mind in your decision to purchase a particular home. That’s why it’s so important to find a reputable home inspector who is licensed and current on local building codes. All of the professional home inspectors I work with are certified by the American Society of Home Inspectors (ASHI) and carry general liability as well as errors and omission (E&O) insurance.

During a home inspection, the inspector will take a thorough look at many areas of the home including:
  • Heating and cooling systems
  • Windows
  • Interior plumbing
  • Doors
  • Electrical systems
  • Floors
  • Foundation and substructure
  • Signs of wet or dry rot
  • Other damage or neglect
  • Walls
  • Signs of termites
Once the inspection is complete, the home inspector will write up a detailed report of their findings. This will give you an accurate picture of the overall “health” of your home and any potential issues or major repairs that may need to be done. Remember, no house is perfect. Finding out any potential issues early can let you know what to expect and give the seller a chance to correct them. All of my inspectors guarantee their work and offer extended advice or service long after the inspection is over.

Home inspections are an important part of the home-buying process. As a Fountain Hills real estate agent, it’s my job to give you all the information you need to make the right home-buying decision. Whether you’re a first-time home buyer or a seasoned veteran, I’m happy to answer any questions you have and discuss your real estate goals. Give me a call and I can help you get started.

Tina Nabers
Nabers Property Management & Real Estate
Check Out My Website
See Homes for Sale in Fountain Hills
Become a Fan on Facebook
Find Out More About Investing on Facebook
Connect With Me on LinkedIn
Contact Me
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