Water in Arizona has been at the forefront of public water policy in our country for quite some time, and for Prescott homes there is no exception.  This year’s 2009 water quality report details important information about our Prescott drinking water.  The City of Prescott opted out of CAP (Central Arizona Project), the Colorado River water supplies enjoyed by the cities like Phoenix and Tucson. Homes in Prescott were awarded an allocation (A.R.S. §45-555E), what is called an assured water supply in exchange for not using supplies from CAP.

Regardless of where you eventually purchase your real estate, Prescott water supplies are managed and can be accessed with reasonable confidence going forward.  In a state where water is precious, there is a public policy in place to address the issue.  Please let me know if you have more specific questions on water matters, always glad to help.

For a pilot, that would be throttle engines, depart, then get cleared for takeoff

For a real estate client, that would be look at houses, make offer, then qualify for financing.

Let’s first acknowledge the first two examples could be life or death situations.  However, in the real estate business, it makes as little sense to shop without qualifying for financing.  Lenders are more strict then ever, with some brokers reporting less than half of all loan based transactions being completed to closing.

Often, folks will visit town with the understanding that they are “just looking”, which is fine, and I am always happy to show people around the first time out from out of town without intent to buy.  However, here is what happens all the time:  a perfect housing opportunity will present itself, and it is difficult to execute without financing, especially on the weekends.

Do yourself a favor, and contact one of our local lender stars before shopping or visiting.  With a loan  pre-qualification in hand, you can be ready to write a contract if you choose.  Please contact Realty 2000 for a tour appointment.  Prescott AZ area is a wonderful place to live and work.  Looking forward to your visit.

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, 928-925-9334 for discussion and detail.  Always glad to help out.

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

Visit Webpage

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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

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

In addition, a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years over the last eight years is available.

Fortunately for buyers looking to purchase homes in the Prescott real estate market the new tax credit coincides with recent lower prices seen throughout our area.  For the first time were seeing some of the housing prices approach 2002-2003 valuations which is excellent news for buyers.

Sometimes buyers would like to get that credit in advance of the property purchase, however that is not allowed by IRS rules. You are able to take advantage of the tax credit in 2009 by filing with your 2009 tax return or you can file an amended 2008 tax return to obtain your credit.  The credit is only allowed after the purchase of the property.

For more details please contact your lender or contact Scott Baxter at Realty 2000 Town & Country in Prescott AZ for lists of local lenders who can give you additional information. Meanwhile start thinking of that new home and contact me to assist you with your future plans.  I can make arrangements to show you some listings in email or here in person, always glad to help.

2009 is no exception.  This year’s fun filled events are sure to delight the whole family.

Come and join our family entertainment in Prescott Arizona that includes the Christmas parade, the Acker Music Night, and the not to be missed Courthouse Lighting Ceremony.

www.cityofprescott.net/events/

Light Parade – Saturday, November 28, 2009 at 5:00 PM

Please welcome the opening of the Prescott Christmas Season for downtown as the decorated floats with lights wind their way around the courthouse plaza.

Courthouse Lighting – Saturday, December 5, 2009 at 6:00 PM

Join the crowd for the traditional Christmas carols by the Yavapai schools choir & the reading of the Christmas story. Then see the plaza come ablaze with thousands of lights

Acker Music Night – Friday, December 11, 2009 at 5:00 PM

Musical acts in every participating business downtown. A real favorite in Prescott for the holiday season.

Sure, I got one of those big external drives, now collecting dust in the garage.  Never cared much for the software, plus I needed something to remind me.  Is it so difficult to obtain truly helpful solutions?

Finally found a backup solution: Clickfree – Automatic Backup

It does everything I want it to:

• No software interaction, plug in the USB and it runs
• System Tray loads and reminds you to run Clickfree
• Software upgrades are also handled as a System Tray notification
• Device is small, just a little larger then a typical smartphone.

Backup is important, and I am glad to help out.  Please leave a comment or tweet me @prescottscott if you want more product feedback.

Shopping for Homes the "fast Email way"

So I added 10% just to bracket the range, and I took a look for myself.  I was thinking, “I betcha there’ll
be only a half a dozen of these houses and out of those, over half will be false entries from listing agents just to get the leads.”

I must say, I was shocked to find there were 67 entries in our MLS foresight built homes under $110,000.  Now mind you some of these are on the outskirts deep in rural areas and some of these are short sell listings with made up asking prices just to gather leads.

Bottom line is:  the buying public needs to continue to express their wants and needs to the real estate agents and brokers that serve them.  If they’re not getting the service that they asked for it may be time to look for different assistance.  For the record, I try to serve every request that I get in the best way that I know how.  In this crazy market, that may mean exceptional value for you, the buyer client.

Let me know what you looking for an I’ll do my best to help out in Prescott, Arizona, thank you.

Photo credit: robad0b

Most people know about the big problems, things like mold, radiation, and possibly that federal highway right-of-way.  But there are many others!  One just happened to me today on an escrow that I have and I thought I would share it with you.

I’m sure many of you know people or possibly even yourself who have thought,  “Oh, wouldn’t it be nice to have a deck, sun room or attached shed on my property.” so you went ahead and built one but you forgot one detail: the need to get a permit.  But of course, one can get a little busy and permits were not a priority for you at the time, so you the construction went ahead anyway.  Now I’m sure you’re deck, sun room or attached shed is just fine but guess what: when you go to sell that property and the buyer’s appraiser starts asking the city or the county about that construction and no permit was filed, you now will have a problem with the buyer getting his financing.

So please, property owners / sellers do yourself a big favor: make sure that you get all the necessary permits for that construction project that you seek to complete.  One day when you go to sell, you’ll be very glad you did.

Photo credit:   Paul Keleher