Archive for the 'Buyer' Category
Prescott Az Home Equity and Effect on Local Market
Oftentimes buyers will ask me why in Prescott Arizona homes prices have not fallen as quickly as they have in Phoenix AZ area. The short answer would be since there is a higher concentration of Prescott Arizona retirement homes and quite naturally there would be a larger equity position for the owners bringing their nest egg into the local Prescott real estate.
That fact is both good and bad for home buyers in our area. 
First, the buyer should be encouraged that our area has more real estate is purchased the old fashioned way: money down with some financing. Second, most local retirees hold their real estate long term, adding stability to our market.
However, as buyers look for favorable pricing, so much of the inventory remains out of reach. Consider someone that has a 40% equity position in their real estate. It is unlikely they would take a capital loss unless they absolutely needed to exit their position.
Currently, most buyers are looking to bid on Prescott foreclosures as a way of entering the market in Prescott. Bank owned homes tend to put pressure on regular sellers, therefore lower pricing. Give me a call or email, Scott Baxter, broker, Realty 2000, 928-771-2000 for discussion and detail. Always glad to help out.
Prescott AZ Lender Stars: Reach for them!
First Published here Feb 13, 2008
Now more than ever, the financing part of any real estate transaction is critical. With lending criteria tightening and home valuations declining (for now), lenders are reviewing standards regularly. Therefore real estate agents need to constantly enhance their lending resources for their clients. At Realty 2000 Town & Country we are doing our best to provide those resources.
As a continuing segment in our Stars series, tonight we present to you – The Lender Stars. Now keep in mind as agents we are discouraged from recommending or endorsing professional services. However, we are often asked to provide guidance in many different aspects of the real estate transaction. That is how the Stars Series got started: to inform our friends and clients about professional services we have used successfully in the area.
Understand that the following vendors are in no way affiliated with Realty 2000 Town & Country nor does this list constitute an endorsement or recommendation of professional services as your satisfaction and results may vary. Please compare services diligently.
Here are lenders that we have worked with, all of them know us, and have done loans with Realty 2000 in the past. Best thing for you to do now is to call them, introduce yourself, tell them Scott Baxter with Realty 2000 Town & Country sent you and let them know that you would like to get prequalified, and later on, preapproved for financing. Tell the lender if you are looking for manufactured homes as that may affect the loan.
Make sure to ask for a GFE (Good Faith Estimate) so you know the cost of the loan. Also, make sure to compare the same loan programs (apples and apples), and please let us know if you have any questions, Realty 2000 Town & Country as always is happy to help out. In last name alphabetical order, and the @ symbol is replaced with (at) to reduce SPAM:
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Full Name: Theresa Baca
Company: WJ Bradley Mortgage Capital Corp.
Address: 8196 E Valley Rd, Prescott Valley, AZ 86314
Business: (928) 775-9330
Business Fax: (928) 775-9331
E-mail: theresab (at) cableone (dot) net
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Full Name: Vince Garcia (PRESCOTT, AZ based)
Company: VanDyk Mortgage Corporation
Address: 3923 S McClintock Dr Ste 408, Tempe, AZ 85282
Business: (480) 814-8733
Business Fax: (888) 345-2780
Mobile: (928) 899-1810
Email: vgarcia458 (at) vandykmortgage (dot) com
Visit Webpage
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Full Name: Theron Wall
Company: Wallick And Volk Inc
Address: 1575 Plaza West Dr, Suite C, Prescott, AZ 86303
Business: (928) 445-8730
Business Fax: (928) 445-1065
Mobile: (928) 533-7473
E-mail: theronwallteam (at) wvmb.com
Visit Webpage
Prescott AZ Homes – Trustee Sales Remain High
Our local Prescott AZ Real Estate foreclosures remain high, while buyer interest across the broad range of Prescott homes pricing can be described as tepid at best. Many bank owned homes remain overpriced, but are often reduced rapidly, creating a feeding frenzy for buyers in the affordability range. If you are one of those savvy buyers, you are well served to have an Arizona Real Estate Broker that can focus your search on that sweet spot with automatic internet searches and daily email pushes into your email box.
Real Estate represents a great opportunity for buyers, and continued hardship for sellers: On Friday, the local newspaper “The Daily Courier” published 4 pages of legal notices, each entitled “Notice of Trustee Sale”. So while the smart guys on Wall Street and in Washington tell everybody how the economy is recovering, the evidence shows otherwise.
Sure, it stands to reason that in order to deleverage the bubble economy, loans that have been defaulted on need do to be foreclosed and sold by the bank. However, while unemployment and foreclosures remain high, it is difficult for most folks to hear that things are getting better while so many are experiencing financial hardship.
If you are in the financial position to qualify for a home loan and to look for Prescott AZ homes, now is the time to consider buying as pricing is attractive. Our beautiful town still offers great Northern Arizona recreation, good local shopping, plus a mild four season climate that we think is second to none. If you think now is the time to make your move, please contact Scott Baxter Arizona Real Estate Broker (928) 771-2000 with any questions you may have.
Photo Credit: respres on flickr.com
Home inspections – should every home buyer get one?
You’ve heard it before, I’m sure. Most real estate brokers will advise you to get a home inspection during your inspection period. On any residential property that you place an offer on I would have to agree, however there are a few exceptions. Sometimes if you want a close quickly on a property that you feel comfortable with, you may waive the inspection. For example, if you’re someone that has particular knowledge and expertise you may decide that inspections are not needed. Or maybe you are trying to close on a bank owned or short sale property and it is being offered “AS-IS” and you would rather save your money to do the repairs rather than identify them.
Oftentimes a broker will ask you to sign a document that you’ve waived the inspection on a particular residential property that you have decided to purchase without an inspection. If you’ve decided to not do the inspection go ahead with the purchase I would say, “fine, not a problem, sign this waiver”. But just remember if that’s a course of action you choose to take, you just have to deal with issues after the sale.
That’s often the case anyway even when you do get an inspection. I can’t tell you how many times an inspection has been ordered and many things were found and placed on a report. The buyer went ahead with the purchase anyway and maybe asked for a couple of things to be fixed in escrow. Most of things were small items and were fixed after the close of escrow. Now you might ask yourself, “what’s the point in getting inspection?” Well, real estate professionals like inspections more than anyone because it helps protect against liability issues. I agree, but if somebody does not want to do an inspection decides to waive the inspection that’s fine too, sign this waiver.
Most inspections cost somewhere between $250 and $350. If someone is on the fence whether they want to do the inspection or not I will tend to say, “go for it. Having a nice little report your hand is at least some knowledge that will give you some peace of mind during the course of your purchase.” When you’re in the Prescott Arizona area let me know if you want to find out about a few good inspectors and I’ll be happy to share what I know.
Thanks for reading and best of luck with your real estate search.
Photo Credit: RedJar
Prescott Area Neighborhoods
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- The fascinating Prescott AZ 2009 Water Quality Report now available: blog http://bit.ly/9wOR7J or pdf http://bit.ly/9y7rUx
2 years ago - New Blog Entry: Step 2, Step 3, then Step 1 ...why order matters http://bit.ly/9tsLqO
2 years ago - New Blog Entry: Step 2, Step 3, then Step 1 ...why order matters http://bit.ly/9tsLqO
2 years ago - New blog article on how Home Equity positions support pricing of Real Estate in Prescott AZ http://bit.ly/9xfGsF
2 years ago
