Real Estate Reality

Social Media Benefits: Why I "Waste" Time On The Computer

2011-05-27T11:47:00.001-07:00

People approach me all the time and ask me about social media benefits. "Why do you spend so much time on the computer?" It's not the question they ask but the tone in which they ask it that they really don't want an honest answer. What they are implying is there must be something wrong with me since I spend an abnormal amount of time sitting in front of a computer screen.

That's understandable. I happen to see the potential of what social media can do for me and others around me, where most others do not. This is one of the most powerful tools we have come into, and people treat it like it's not that big of a deal.

So why use it and what are some of the social media benefits I have experienced? Here's a list of things that have happened to me, primarily through my use of Facebook and Twitter:

- was interviewed for Channel 3 news about home prices in Phoenix

- have closed business from social media and am continuing to fill the pipeline, with 5 people looking at homes online

- have made new friends with similar interests in yoga, the performing arts, and movies, several of which I expect to be lifetime relationships

- my 5th grade bully contacted me to reconcile!

- have won free movie tickets, T-shirts, and other swag - so much that I've given alot away to other friends as well

- made several new friends in the Denver, Colorado area in anticipation of my family's vacation in June

- received tickets for musicals including Billy Elliott

- found several incredible babysitters for my 7-yr old and 20-month old boys

What's interesting is that I didn't go in expecting any of these things to happen. I went in with an attitude of connecting and engaging with others, finding out what they like and who they are, and these things "dropped" into my lap.

Social media is about relationships - don't let anyone kid you about this. I'm in a relationship business, but regardless of my livlihood I would use social media, because I love interacting with people.

Phoenix Real Estate Market Update - Foreclosures Still Dropping

2011-05-23T09:22:00.000-07:00

Good news in the Phoenix marketplace, at least for now. Home sales of foreclosed homes have been dropping a great deal since the beginning of the year. In January and February they were 43% of sales, in March 38%, and April 36%

Dr. Jay Butler, professor of realty studies at ASU, cautions against making too much of these statistics though. He and other market analysts are concerned about foreclosures spiking again in the coming months unless the job market starts to improve.

I have a different outlook. Active listings were 24,680 in Maricopa County as of this morning. This number was close to 60,000 about 2-3 years ago. We are selling more homes than almost at any other time in our history (9,075 in the last 30 days). Pending sales are strong at 14,226. I'm running into multiple offer situations everywhere. I'm hearing about job openings through contacts on Twitter, Facebook ,and LinkedIn. Inventory is starting to dry up. Interest rates are wonderful. Prices in some areas are even up!

While I'm not saying we are at full recovery (we're not), Phoenix is certainly pushing its way with a vengeance towards it. I have been getting out to many restaurants, mostly in Chandler, but also in Phoenix, and they have been seating to almost capacity again. Although consumers are still extremely conservative, there are slight openings in those purse strings.

As summer approaches I do not see an increase in foreclosures on the market, unless the banks release this so-called "shadow inventory", which everyone has been waiting for. Shadow inventory are homes that the banks hold on to to artificially increase prices on the market so when they do list for sale they will command a premium. In speaking to several foreclosure listing agents I know, I honestly don't believe there is shadow inventory out there right now. Rather, the banks are just slow at getting their homes on the market from the time they take them back from the previous owner.

Things will only heat up during the summer. Here in Chandler where we have a modified year-round schedule my 1st grader is fixing to go on summer vacation in about a week. Once schools let out people who were considering a move will become more serious about it.

Phoenix real estate - search the MLS http://mc.searcharizonarealestate.com/

Movie Review of Blue Valentine - A Heartbreaking Story of Love That Wears Out

2011-05-22T16:57:00.000-07:00

Yesterday I watched "Blue Valentine", a movie I have been waiting a long time to see. It was incredibly powerful and came in with a very unapologetic approach, and a few scenes were difficult to watch.

Blue Valentine is the epitome of great film making, acting, and scripting and I applaud Derek Cianfrance for his efforts. The characters couldn't be more real and believable, as we watch their relationship deteriorate after seeing more optimistic glimpses of them through flashback.

The two main characters have an idealized and very romanticized idea of what love is. The two stories of falling in love and falling apart are told in intersecting circles. We see the relationship deteriorating, then we see their amazing first date. We also learn how they never had a solid foundation to start with. The reason they stay together as long as they did is because of their daughter.

There are many sweet and tender moments with Gosling doting over his daughter, as he plays the hard-working father who works as a painter & mover and thinks he can down a beer in the morning without it affecting his work. You feel the frustration his character experiences in working on his relationship with Williams, a loving but overworked mother who seems to have to raise her husband along with her daughter. She is damaged and desperately in need of tender love and affection.

The movie isn't easy to watch at times, and although every component I consider great, it is so heartbreaking to watch the characters slip away from each other and lose what they once had. The attention to detail, pacing, characterization, and interaction between the characters is amazing.

Blue Valentine gets 9/10 stars

Ignite Phoenix - A Refreshing Change to and Old Concept

2011-05-22T06:46:00.000-07:00

Seminars - we've all been to them. They may have great information which is often hidden amongst both exciting and very boring speakers.

Friday night was different at Ignite Phoenix. There was an electricity in the air which continued into the evening as speakers came up and presented topics they were passionate about. Starting off it felt like a rock concert. A humorous video starts us off and the audience laughs in response. The organizers come out and share what we can expect to walk away with. Their energy is high as well as their conviction level.

So what were they selling - the newest piece of technology, financial planning advice, a weekend getaway to Sedona?

None of these things. What they were selling was their idea - something that had transformed the glasses they now look at life through. Each speaker had 5 minutes to convey their topic to the audience, along with 20 slides to aid visually. There were 18 speakers total

What struck me the most was that 853 people gave up their Friday night to attend this event. Most businesspeople I know are ready to escape anything that resembles a work environment come 5 p.m. Friday, or even earlier.

But these people didn't relate to that belief system. In fact, they viewed it as a way to improve their life. Many of the topics were personal in nature, and the speakers' words rang true with many people. This was the 10th Ignite Phoenix event. The first one was August '08 and drew out 80 attendees.

The themes shared by the 18 main speakers included:

- appreciating our history
- focus on what fascinates you
- find something you are curious about and explore it
- everything happens for a reason
- people do bad things but that doesn't make them bad people
- how being cheap can be better
- it's ok to be bad at something in the beginning, focus on where you're going not where you are
- pursue your passions/have something outside of work
- you don't have to succumb to forces that act on you
- getting to know people through a common interest
- using your anger to make productive change
- use humanities to make yourself more well-rounded
- not everyone fits inside a box
- learn something new, take on a challenge, don't listen to naysayers
- just because you don't do something like everyone else doesn't make it wrong
- sacrificing a part of you has its own fullfilling rewards
- look into new types of music

At intermission tweets about the event flased up on 2 large walls in the lobby and you could watch people's reactions to what was being said, a commentary on the event of sorts. 3 people also competed for who could narrate 15 slides they had never seen before in a way that was entertaining to the audience.

The 2nd half was just as strong as the first. I found my energy level high during the event as I took notes on the speakers and sought out their Twitter handles

I'm defintely a believer. See you at the next Ignite Phoenix!

How Twitter Got My Daddy On the News : A 7-Year Old's Perspective

2011-05-21T11:35:00.000-07:00

My daddy works hard at his job as a Realtor. I know he likes to do it what he does because he talks about it all the time. He spends alot of time on the computer and phone talking to people and learning what they want. He's a really smart Realtor and helps lots of people buy houses.

Recently spending all that time on the computer paid off. A news reporter on Twitter talked to daddy about being on the news! I don't know her name (Stacey Delikat : Twitter @sdelikat3tv - Matthew), but she seems nice and did a good job too.

I saw daddy on the news Tuesday night. He was talking about how much houses cost and what is going on with houses in Phoenix today.

I love my daddy. I was proud to see him on TV. He must be the best Realtor in the whole world.

Oh, did you want to see him on the news? Here it is, only about 2 minutes. See how cool he is!

I was very proud of my daddy. He has had some rough times selling houses, but he's doing much better now.

My First Twitter Buzzcation Experience

2011-05-19T16:09:00.000-07:00

I've been on Twitter for about 2 1/2 years as @RealtorMatthew and during that time I have got to know some people fairly well. For the most part it is a very surface-level type of relationship (it goes with the online thing), but you really get a feel for what people are like, as they tend to share more than they do in real life (IRL) or even on Facebook. Let me tell you about my first Buzzcation experience.

When I arrived at Salty Senorita in Scottsdale I felt butterflies in my stomach, much like the ones I had going to high school dances! It was invigorating and a little nerve-racking all at the same time. Questions and doubts raced through my mind.

"What if they don't like me?"

"I hope someone I know (IRL) is there."

"What if this is a waste of time?"

"What will they think about me?"

This coming from a guy with a pretty healthy self-image! That voice quickly subsided as I entered the venue, ready to meet some familiar faces.

I walked out on the patio and observed the Buzzcationers for several minutes. That's my personality - when I walk into a room I am trying to get as much information as I can. I'm curious by nature so I observe people's body language, voice inflections, and facial expressions, as they tell a great deal.

People also put off a certain energy level and I can feel when that energy is negative. Typically they don't know it as they are operating in default mode and walking around unaware, but it's there. So it was easy for me to sense who not to talk to as well. Fortunately, there weren't many of those people!

I see several groups of 2-6 people standing around tables, talking, and there is definitely a buzz in the air so to speak. I found the Tweeps (peeps) to be friendly, outgoing, and receptive to new people.

Several times people walked up to me and said "Hey, I follow your tweets, you're RealtorMatthew!" After a while I started feeling like a local celebrity (I didn't say I WAS one :) )

People were glad to finally meet me, and I them. There were a few people in particular who I probably would never have met without Twitter:

@WoolyManPhx -Tim is in the video production business (@dischighlifetv). I helped him through Skype with social media tips to improve engagement on his fan page, but more importantly found out he's a really nice guy who cares.

Though our interaction I discovered that we are both movie lovers, so we always have something to talk about, and he frequently comments on my movie blog posts. Not only that but I have already referred a potential client to him.

@NoellePhx - she was a highly anticipated person to meet. Noelle and I have been Twitter friends for awhile and watched my TV appearance on Channel 3 about prices in the Phoenix real estate market. Living in Chandler, Noelle has also helped me navigate the Biltmore Phoenix area, making recommendations of where to eat and shop when my wife & I made last-minute plans to be in the area.

Noelle is very to-the-point and doesn't beat around the bush. What is interesting about her is it's almost as if her every thought shows up on Twitter.

I knew her local following and popularity on Twitter, and also understood she was a no-nonsense gal. Being a fellow Sagittarius many attributes of our personalitites are quite similar. I also deducted why she was so popular - because she doesn't care what people think about her, which automatically attracts them to her. She was as nice as I anticipated and we definitely hit it off as friends.

According to my wife I was pretty nerdy in high school (not attaching a picture). Having a few close friends and being in the Drama Department and actually liking math, apparently I didn't have any choice but to be nerdy. Meeting Noelle was like approaching the student body president - I just wanted to seem "cool".

@MarieSabina - Marie lives up in north Phoenix and is a stock trader. Marie's warmth and kindness shone through from her Twitter account into real life. Marie has also decided to use me as her real estate agent and is also fighting a battle with lupus, something she has in common with another one of my friends' @momx3deb's child, and something my wife was almost diagnosed with. Marie's avatar (profile picture) also matches what she looks like in real life, unlike some others I met

@CesarGamez - I have only recently been interacting with Cesar and know that he runs a a counseling practice in Anthem. From watching his tweets I understood him to be a very down-to-earth and geniunely happy guy. I admire him for listening to people's problems all day, as I'd never have the patience for that. Cesar was very personable and welcoming, and I immediately felt comfortable around him

The highlight of the evening for me personally was when I won a huge prize from the raffle drawing and everyone cheered for me. I was definitely taken aback from the response. It turned out I actually didn't win the prize (read the ticket incorrectly), but the reaction to me winning provided my high-school self with his own moment of vindication.

I wouldn't even call it a "networking" event, like so many I go to. It was more like a casual mingler of people with a common interest, which was engaging. People were in high spirits (and not just from the alcohol) and happy to be there, and although scarcely discussed, I know business was also getting done. It almost reminded me of a country club in that respect.

Of course I met many others and lots of people I didn't know from Twitter, and what I found is that the perceived elitism that people say about Twitter folk wasn't there. It was everyone having a good time getting to know each other. Everyone made me feel welcome and I can't imagine missing another one.

Most people say they don't "get" Twitter. Being a part of Twitter and connecting with the kind of people I have, I don't get people who don't get Twitter. Give it a try, follow some basic guidelines, and see where it takes you.

Movie Review of The Beaver - Gibson's Exceptional Performance Can't Save Average Direction

2011-05-17T20:29:00.001-07:00

Some movies are stories of redemption, and sometimes the actors are the ones looking for redemption. After a tumultuous couple of years in the press, Mel Gibson needed a comeback, and his old friend Jodie Foster was willing to give it to him in "The Beaver".

Mel's character Walter Black was an interesting choice because he's a mentally-ill alcoholic negligent father, a few attributes Gibson is know for in real life. He suffers from depression while fathering two boys and running a company. He is never around or mentally available as during his down time he is found sleeping.

After stumbling across an old beaver puppet and failing at a suicide attempt, Walter forms a bond with the puppet. The beaver has its own personality and becomes an encourager of Walter, helping him get through a tough time. The beaver is a symbol of the psychological distance Walter needs to separate himself from his depression. What we see throughout the film is the beaver acting as a go-between between Walter and the outside world. The beaver becomes a part of Walter's everyday life, much like a cavity.

Walter's wife is Meredith, played by Jodie Foster, who is a loving and supportive spouse trying to make the most out of a very difficult situation.

Our subplot involves Walter's son Porter (Anton Yelchin), an angst-ridden teen dealing with his own self-hatred at how similar he is to his father. He is also a very talented writer, and for extra cash does his school friends'' essay assignments. Porter is solicited by the head cheerleader to do her valedictorian speech, and during this process comes to care about her. That relationship adds more ups & downs to his already roller-coaster of a life.

The beaver not only takes over the company, but provides an inspriration to a company boon.

The chemistry between the 2 parents is intriguing to watch, as she has to handle him with kid gloves and humor his use of the beaver. When she insists on Walter lowering his "guard" we see just how fragile Walter truly is.

We see the fragility turn to a frenzied fear when Walter discovers Porter's self-abuse. That fear manifests itself in a battle between Walter and the beaver.

Putting a number score to this movie is difficult because some moments are beautiful and moving, such as Walter's soliloquy on the Today Show with Matt Lauer, but then we also feel almost bored with the overwrought sappiness of trying to move us. Even the supposedly shocking climax still comes off a little predictable. I found myself looking at my watch somewhat frequently as 91 minutes seemed 2 hours, a litmus test of a movie bound to get an average or below-average rating.

THE BEAVER scores 6 out of 10 stars

7 Tips for Buyers Looking at Homes

2011-05-16T10:10:00.000-07:00

As a real estate agent working in the Chandler, Arizona real estate market for the last 4 years, I have noticed the buyers have certain habits when they decide that now is the time to get out in the car and see the inside of homes they are considering purchasing.

While it's understandable that you are quite excited about this phase of the process, I've found it helpful to make a few suggestions to make this experience as streamlined and headache-free as possible.

Here are 7 tips for buyers looking at homes:

Tip 1 : Select more homes than you really want to see

Why would this be important? In the Arizona marketplace homes are being gobbled up left and right. With 60,000 homes on the market in Maricopa County 2 years ago and 25,000 today, demand exceeds supply.

Bottom line: the likelihood that a few (or more) of the homes you want to see are sold when you actually go out is quite probable.

Tip 2: Make darn tootin' you are prequalified for a mortgage (if financing)

Buyers tend to think they walk on water and that a high FICO will cure all ails, but they can be mistaken. Low assets in the bank, a short time with their employer or in their career field, or high debt to income ratios can derail you from being able to purchase.

Why invest hours going to look at homes when there is a chance it might not happen? It shouldn't take more than 30 minutes sitting down with a mortgage lender or over the phone to complete this initial process.

In today's lending environment it's more critical than ever with guidelines being so strict.

Tip 3: If anyone else will be involved in the decision they need to come along for the ride.

The reason for this is because you cost yourself more time to go out a 2nd time AND the home might be sold by the time you do end up going back. This is a regret you don't want to have.

Tip 4: Don't spring properties on your agent at the last minute or while you are out.

Buyers frequently point to houses while out with their real estate agent that are not scheduled on the tour. If the real estate agent did their job, and if that home fit your parameters, it would have shown up in your online home search.

If it didn't hit your search it's either under contract or outside of your specifications (price, etc)

Remember your agent has to schedule showings and confirm the home is still available, and most listing agents don't answer their phone right away, and it's best not to disturb an owner at home that isn't expecting you, as that doesn't exactly build rapport during negotiations.

Tip 5: You want to actually see no more than 6 - 8 homes (oh , a bring a note pad and camera!)

After 6-8 homes they tend to blur together and if you haven't documented & photographed each home well you'll probably end up asking your agent to take you by again, and while most agents are agreeable, it's not always the best use of time. So to see 6-8 you may need to request 8-10. If you don't get to them all, then schedule the others for the next day.

While we're at it if you are looking in a large search area try and schedule showings in one area at a time. Driving across town isn't the best use of time, and you'll find that clustering homes is more productive.

Tip 6: Come prepared

In Phoenix,Arizona and warmer states, looking at homes during the summertime can be most unpleasant. Bring water (or something to drink), dress casually, and don't bring the kids (sorry).

Although you love your kids, and I'm sure they are the very best behaved kids in the whole world, they will inevitably distract you from focusing on the elements of the home, and taking it all in.

Another good idea is also to carpool with your real estate agent. This gives you the opportunity to ask the agent lots of questions about the area, their perception of the market, etc. A real estate agent, while not the only source of valuable information, can certainly be one of the best.

Tip 7 : Rate the homes

After each home when it is fresh on your mind, rate each home from 1-5 stars, 5 being the best and 1 being the worst. No half stars. When you're done toss out anything 3 or below. This helps narrow down to the absolute best choices.

I wish you success in your home buying process, and make sure you subscribe to the blog for updates. Happy house hunting!

Chandler, AZ homes for sale http://mc.searcharizonarealestate.com/

Multitasking - My $10,000 Mistake

2011-05-15T05:44:00.000-07:00

We've all done it - multitasking.

Multitasking is prevalent in our society, where the culture is more,more,more done in less time. There always seem to be ways that we can do more with the limited time we have, and Lord knows that people try. Ironically it seems the more people multitask the more things they have to do and thus the busier they seem, which seems to defeat the purpose.

I do not consider myself a multitasker - I am of the belief that it takes LONGER to do A,B,C,D done all at the same time than it does to do A completely, then move on to B, because you have to keep switching back and forth. Multitasking has been proven to actually take longer.

Last week I neglected to adhere by my usual standard and do a little multitasking, and it was a HUGE mistake.

I'm on the phone with a potential client referred to me by another real estate agent. This is my first conversation with the client. The client is an investor wanting to purchase multiple properties in the Phoenix area and has $500,000 to invest, which after I sent the referring agent his compensation I would have made around $10,000.

I'm confident, collected, poised, and professional. In fact I'm SO good that I can also check tweets on Twitter, respond to them, and scroll through Facebook statuses all at the same time - I was the man.

I get off the phone with the information I need to start sending him properties, and then it happened...he called me back.

Investor: "Yeah, I was just thinking about our conversation, and I'm not going to need your help."

Me: "I guess I'm a little confused - what do you mean?"

Investor: "I've decided it is probably better for me to use another Realtor. It seems our styles are very different. It's obvious that you know what you're doing, but you seemed distracted, and that you had more important things to tend to"

Drop my stomach. Ug. I felt just awful. In my mind I came across as attentive, asked him alot of questions about his situation, and provided helpful advise on what I felt he needed to do to realize his goal of a 12% rates of return.

That didn't matter. What mattered was his perception of me and my message, and it was splintered. He could sense that I wasn't all there present and focused on his situation.

Therefore my plea to you is know that yes sometimes you can probably multitask things and get away with it, but you can't multitask people.

Most people would say that it is a bad idea for me to post a blog entry like this because people will read it and not want to refer business to me, and that may be true. But I can get through to one person out there and show them the potential harm in their ways this will have been worth writing .In addition, I believe people can see you are human and make mistakes, just like everyone else, and that makes them be able to relate.

So the next time you're on a phone call with me I assure you I will not be multitasking. Although costly, I have definitely learned my lesson and llike a good student will strive not making the same mistake twice.

Mortgage broker vs Banker

2011-05-14T05:35:00.000-07:00

People often ask me " What's the difference between a mortgage broker and a banker ?"

The differences are pretty dramatic .When working with buyers many of them come to me with an approval in-hand from a bank like Wells Fargo or Bank of America. I suggest it be in their best interest to investigate at least one other option to be sure they are receiving the best program for their needs.

Here is each lending institution explained:

Bank - a bank is a direct lender. The customer works directly with the bank and generally, the bank loan officer does not have the ability to use outside sources or other banks . Bank loan officers are not required to be licensed When a banker pays their own loan originators a "yield spread premium" it is not shown on the closing statement which is approved by the buyer . The only fee shown is the origination fee which is paid by the borrowers.

Mortgage broker - intermediary that originates mortgage loans for a variety of banks. The broker can shop with various banks to obtain favorable loan terms and underwriting outcome . Most mortgage brokerages have less than 5 employees. It today's mortgage market, banks' underwriting criteria and loan programs can vary widely, so having a number of bank sources can be to the buyer's advantage .

Mortgage brokers must be licensed and are usually more responsive .

Movie Review: THOR - A Modern Day Nordic Tale?

2011-05-12T11:21:00.000-07:00

THOR was a thrill-ride for me. I left the theater drawing comparisons with Bill & Ted's Excellent Adventure, Superman, Terminator (a reversed version), 13th Warrior, and Lord of the Rings, as well as the story of Jesus Christ. It's definitely a stylized version of Nordic/Norse Viking mythology.

Sounds strange huh? Let me tell you this: Kenneth Branagh pulls it off, being the brilliant director that he is.

I was expecting another Hollywood action flick with some macho guy raising hell and no substance. I was only half right.

Let's recap the story: Before he becomes king, Thor (Chris Hemsworth) is banished from his home in the fantasy world of Asgard for his acts of arrogance in directly confronting and causing the deaths several members of the Frost Giant army, who are the enemy.

Thor is stripped of his superpowers by his father and is transported through a wormhole to earth. Much of the comic side of the movie comes from Thor's portrayal as an average person who still thinks he has superpowers (is subdued by a vaccination). Another point of humor is his adjustment to things on earth (he walks into a pet store asking for a horse).

Thor's exile is so difficult on his father Odin (Anthony Hopkins) that he goes into a coma. While in this state his son Loki (Tom Hiddleston) assumes control of the throne, making choices that neither his brother or father would agree with and exerting his revenge for being the 2nd best child all his life. Loki is committed to exterminating the Frost Giant race, even though they have been at peace for some time.

While on earth Thor's attitude changes as he comes to care for Jane Foster (Natalie Portman), a researcher of galaxies from beyond, who he meets when transported to earth. As their relationship develops and Thor finds a way to get back to Asgard, he has to make a tough choice as it relates to seeing Jane again.

Before going back to Asgard, Thor must defeat "The Destroyer", a large robot-like being, that looks impenetrable.

The ending works for the movie and the events that lead us there are credible. They even leave it open for a sequel, but you have to stay after the credits.

So what are my thoughts on the film?

Some of the CGI used in the movie is a little hokey, but I say overall it was well done.

It was obvious that Thor's body was, shall we say, "fabricated"?

The costumes were first-rate, very cool.

Loved the use of wormholes to transport to other worlds.

The visuals were brilliant and we could feel the characters being transported through. Also noteworthy visuals: the weather disturbance/storm at the very beginning of the movie and the destruction scene towards the end. Definitely big-budget there

The fight scenes were amazing, some of the best I've ever seen. How Thor's army goes up against the Frost Giants is dazzling and the ice that grows from the arms of the enemy used as attack-weapons was also eye-popping.

Best acting performance is given by Tom Hiddleston/Loki, as we see the torment he experiences finding out his true identity and displaying a good deal of rage over that and his jealousy towards his brother Thor.

There were a few lulls/slow spots during the first half of the movie.

To summarize I enjoyed THOR more than I thought I would going in, but I also expected that since friends who's opinions I valued said it was a very good film. I vacillated between 7 and 8 stars, so I give THOR:

7.5 out of 10 stars

10 Things to Watch Out for When Buying a Foreclosure

2011-05-10T19:47:00.000-07:00

With over 40% of Phoenix real estate sales still being foreclosures, buyers are jumping in like there's no tomorrow, often times throwing caution to the wind because they got such a great deal and beat out other bidders. However, just because the bank accepted your offer doesn't mean it's going to be smooth sailing, nor should you go in unprepared as to what to expect.

Here is what to watch for when buying a foreclosure:

1. AS-IS is not necessarily AS-IS

When buying a foreclosures there are disclaimers everywhere that the bank won't do any repairs. In some instances they can be negotiated however. Take for instance FHA appraisals that require the home be deemed "livable". If a home is not livable a buyer cannot get financing.

My sister recently bought a home. The FHA appraiser called out a roof leak, no dishwasher, and termite present. She had no money to do these items, so we asked the seller to do them. They did.

2. Inspection period may start sooner than you think

Some banks start your inspection period upon verbal acceptance, NOT when they sign the contract and send it back, which could take days or even a week or two. Get those inspections started right away, because when the inspection period ends (usually 10 days) your earnest money becomes non-refundable.

3. Buying a Fannie Mae or Freddie Mac home?

Expect the 1st 15 days the home is on the market that it will only sell to an owner-occupant, defined as someone who will live there 12 months out of the year. Why? Because they are encouraging owners that live there as a way of bringing back values.

4. Expect to put up your best offer

In the Phoenix market we are seeing multiple offers on homes once again, this time instead of prices being at the top, they are at the bottom. As such, inventory is down, sales are up, therefore many people will be vying for the same homes.

A savvy buyer's agent will ask probing questions of the listing agent in an attempt to help you put your best foot forward without overpaying for that home.

5. Financing contingency nixed?

Some banks (mainly Fannie Mae) will put into their addendums that your financing contingency expires before the close of escrow, usually a week or so. What does that mean to you? You need to have a fully-approved loan by this time, otherwise you may jeopardize your earnest money deposit. Loans declined a few days before closing could end up costing you your good-faith deposit.

6. Banks are looking for the highest net offer (pretty much)

Are you a cash buyer and think your offer has more weight than a higher financed offer? Not necessarily. Banks are looking for the most money being put back into their pockets, and will frequently take a chance on a financed offer. Remember to also strengthen up your terms to put the icing on the cake (high earnest money deposit, fast close of escrow, minimal closing costs requested,etc)

7. Just because home is being sold AS-IS doesn't mean you don't get an inspection

This is a big mistake people make. Why not invest $350 to make sure you know exactly what you are getting into? Isn't the biggest investment you'll ever make worth that? Enough said.

8. For investors

Don't plan on the bank paying any closing costs or a home warranty. And, if they do pay closing costs and you are financing with a conventional loan, your lender will only allow up to 2% closing cost contribution from the seller.

9. For cash buyers

Expect your earnest money deposit to be 10% of purchase price, not the typical 1% that is normally offered on a home. The bank deems you to be more serious because you don't have a financing or appraisal contingency.

10. Stay on your mortgage lender

The mortgage lender needs to have your closing documents at the title company a full 3 business days prior to the close of escrow. With foreclosures having them sooner is more helpful because banks are slow in reviewing the settlement statement. Not adhering to this can jeopardize your earnest money deposit, although most banks are fairly easy to work with and may grant at least one extension.

Movie Review: Gladiator

2011-05-09T14:05:00.000-07:00

There are some movies that move your spirit in an indescribable way - a way that makes you look at life differently. A way that causes you to not take your loved ones for granted, ever. Gladiator is such a movie.

Gladiator is one of those movies that is the ultimate version of good versus evil. In one corner you are cheering on the protagonist, and the other your skin crawls when you see the villain.

Probably Russell Crowe's finest performance, Gladiator brings us back during the time when the Roman empire was at its peak. Maximus (Russell Crowe) is the leader of the army and has just come off of a major victory. His desire is to return to his family, but Caesar's son Commodus (Joaquin Phoenix) has other plans for him - to continue to lead Rome as a world superpower. Where there opinions differ is in the rule - Commodus in an emperor and Maximus believes it should be given to the people

The rest of the story involves Commodus's attempts to destroy Maximus because of his "betrayal" to the Roman empire. Maximus becomes traded as a slave and is forced to fight in Gladiator wars, which frequently result in death.

The scene in the movie where I felt the most tension was when Commodus confronted his father about a particular issue.

During this time Maximus forges a few strong relationships with his cell-mates and becomes a symbol of perseverence.

Maximus is bold,courageous, and never backs down. My favorite quote from the movie is "What we do while alive echoes in eternity." Lots of great quotes throughout the movie.

The music is incredible and earned an Academy Award nomination. I would describe it as being hauntingly beautiful. The scenery is breathtakingly exquisite and gives us a good idea of what it looked like at the time

The cinematography is probably the best I've seen, in particular during the Gladiator fight scenes. These scenes also got my adrenaline pumping, while anxiously watching to see who would die next.

The final scene of the movie is simply stunning and moving, a fitting end for a film of this magnitude.

As I can't think of one thing to change, my movie review for Gladiator is 10/10 stars.

Movie Review: The Diving Bell and the Butterfly

2011-05-08T20:32:00.000-07:00

Foreign films are some of the most well-made movies I've ever seen. This one certainly doesn't disappoint. It's a French movie with a very strong cast of characters, especially the main character. In fact my wife and I saw it several years ago and she had forgot quite a bit about it so we checked it out again.

The main character Jean-Do (Mathieu Amalric) wakes up in a hospital. Something horrible has happened to him. Very impressive that the first several scenes are shot through his eyes, literally, as we watch the people that come to his care and tests that he is undergoing.

We don't know exactly what has happened to him, but whatever it is has rendered him speechless and immobile, and the movie is narrated by his thoughts. We're in his mind the entire movie as we hear his inner-dialogue and reactions to events that occur around him.

This perspective gives us a very unique look at the movie, because in essence we become the main character, so we pay attention alot more than if the camera were filming around us. The most unique element of the movie is watching the other characters in front of Jean-Do in an attempt to communicate with him.

The rehab of Jean-Do is particularly interesting to watch, since he cannot speak, he can only communicate with the blinking of one eye as someone else scrolls through letters, thus creating an entire word. Although we keep hearing "A,B,C,D,E",etc over and over again I didn't find it annoying in the slightest, as I seemed to hang on each letter.

We come to find out what Jean-Do is like before the accident - vain, in a high profile kind of career, and living in the now. Images and memories of his former lifestyle are flashed on the screen in beautiful fashion and not only do we see his reality but we see his use of imagination as well.

Early in the film, he realizes that while his body is paralyzed, his imagination and memories are still at his disposal. Thus, his imagination is what he uses as a mental escape from his present situation. I cannot speak highly enough of the cinematography in this movie, A+ for sure. Combine that with the emotionally-moving music and you have got a nice combination for success. This also goes for the dreams he has, which are quite vivid and beautiful as well.

The film itself is thoughtful, contemplative, and attention-grabbing in practically every scene.

The relationship with his father was very believable, and I couldn't help but to empathize with both of them. The tale told is one of endearing love, not only for his father, but also his wife and kids.

Listening to Jean-Do describe his feelings is depth was so wonderfully arranged - his points were spot on and at times I wish I could describe what I was feeling to that specificity. We hear him describe what he loses and what he gains as a result of his predicament.

The movie goes back and forth between reality and the way he wished things were. I watched with hope that things would get better for him.

The emotion he conveys through just one eye is utterly incredible (particularly the scene where he is on the phone with his wife).

The theme of the movie is: Everyone surrounds you when things are good, but who's there for you when the chips are down? We find out who really cares for John-Do in the end.

I got an uneasy feeling towards the very end of the movie as we come to find out exactly what happened to Jean-Do.

The only negatives were that the movie seemed longer than what is was (112 minutes) and a few scenes I felt were unnecessary to the development of the plot.

Review of The Diving Bell and the Butterfly - 8/10 stars

Movie Review: WIN WIN

2011-05-07T12:34:00.000-07:00

"They don't know who you are" is a line delivered in WIN WIN by Mike Flaherty (Paul Giamatti) directed by Thomas McCarthy to his star high school wrestler Kyle (Alex Shaffer). A very apropos line because audiences across America don't know who Alex is yet, but I'm guessing we'll hear more about him in the years to come.

WIN WIN is an ironic comedy in that what you don't expect to be funny, is. And you've got lots of tender heart-warming moments accompanying the complications.

Mike is an attorney falling on hard times in his business. He moonlights on the side coaching high school wrestling in his small town in New Jersey. Mike's situation is one most of us can identify with: trying to provide for his family but taking a step in desperation that could result in disasterous consequences.

Mike is married to Jackie (Amy Ryan) who is a strong minded, don't-take-any-crap kind of a mom. She is also a nurteurer, fiesty, and definitely has an edge to her personality. We see her as the backbone and moral compass for her family, as well as the movie.

The plot goes like this: Mike's client Leo Poplar (Burt Young) has been ordered before a judge to determine if he needs to become a ward of the state and moved into a senior care facility. Upon discovering that a guardian is compensated for the care of Leo and with his family nowhere to be found, Mike decides to capitalize on this opportunity to add some extra income to his family's budget. In accordance with Leo's desires to live at home, the judge declares him under the care of Mike, who directly disobeys the order and moves Leo into a facility. No heavy lifting, right?

What throws a wrench into Mike's plans is Leo's grandson Kyle (Alex Shaffer), who has run away from home and come to live with his previously unknown grandfather. Of course, as this is not possible with Leo no longer living there, Mike reluctantly puts Kyle up in his home.

Kyle is the lone-wolf type, who is quiet and aloof, and as the movie progresses we watch him make better decisions. Particularly of note is the relationship he develops with team member Stemler (David W. Thompson), who is quirky and generates some good laughs of his own.

We discover that Kyle was a star wrestler at his former high school and Mike discovers a way to get his Bad-News-Bears wrestling team out of a major losing streak. This is where I believe the first allusion to the movie's title WIN WIN comes in - it is Mike going for the double win of the wrestling team and extra money for his family.

The two assistant coaches provide their own humor. Terry Delfino (Bobby Cannavale) is Mike's best friend, who's wife has just left him and is trying to distract himself. He is overt and a little oblivious at times, and coins the term "manstrength" when referring to the physical power Kyle has. Stephen Vigman (Jeffrey Tambor) is the other coach, who is not exactly welcoming Terry as his new competition.

Enter Kyle's mom Cindy (Melanie Lynskey) - a down-on-her luck, vulnerable woman who has come to the realization that upon being abandoned by her boyfriend, wants her son back and potentially derails Mike's plans. Upon discovering the reason Mike took the guardianship of her father, she brings in counsel to move Leo with her back to Ohio, where she believes he and Kyle belong. Mike proposes she receive the stipend, and leave the boy to finish the school year and wrestling season- our second WIN WIN scenario. Will her motives and ultimate choice between these be the best for herself, Mike, Kyle, or everyone?

The ending no doubt will receive conflicting opinions from movie watchers. I believe what ends up happened is the best possible outcome, at least in that moment.

A good portion of the movie's humor comes from the reactions of characters to lines given, one specifically is when Kyle asks Mike to slap him in the head to get him psyched up for his wrestling match. This is followed by a look of "what are you doing?" from Jackie, and the Mike's returning smile telling her "it's all good"

The subtleties and expressions are priceless, as could be expected with a cast of this caliber.

The bond formed between Kyle and Jackie is strong and believable, as we begin to identify with Jackie's character really taking Kyle on as her son. At one point when Kyle is particularly upset she says "We love you. I just want you to know that"

I enjoyed watching Mike & Jackie as they carried on like a typical married couple, with one person trying to get away with something by downplaying it and the other calling them right out. Classic.

We come to care about all of the characters in the movie, as we see that they are all just trying to do their best with their current circumstances, even though feelings get hurt and tempers flare.

The theme of the movie seems to be that no matter how bad things may be, there are always other options, remembering your actions have repercussions reaching farther that you could ever imagine.

When considering your next cinema choice, please remember this movie review of WIN WIN

9/10 stars

Getting the Best Deal: 5 Ways You Can Do It!

2011-05-03T11:45:00.000-07:00

Every buyer wants a deal, that's for sure. Especially in this market people are pinching every penny and want to get what they perceive to be a great deal on a home for sale. I work with homes for sale in Chandler,Arizona and I can speak first-hand how conservative people are being right now.

Negotiating the sale of a home should not be flown into blindly. You and your real estate agent should both put together ammunition to prepare you for what to expect from the seller's response. Think of it as a court case: you put together evidence/reasons as to why the judge or jury should buy into your reasoning. No different here!

1. Look at the "comps" or "comparables"

Comps are homes that have sold in the area recently. Nowadays "recently" tends to mean in the last 3 months, as the market is changing so rapidly as it is (used to be 6 months). Start with the subdivision, then go out a mile or more if necessary to find maybe 3-5 sold similar homes (or more) to the one you are considering buying.

By similar I mean similar square footage, lot size, # of stories, pool or no pool, garage size, etc.

This is one of the best items you can go to the negotiating table with, since facts can't be refuted.

Sold homes are the best indicator, followed by what's currently under contract/pending, and then what is currently for sale.

2. Negotiate without emotion

This one isn't so tough for investors as it is for someone who is buying to live in the home. People have a tendancy to fall in love with the home before their offer is accepted and this is normal. However, if you have 2nd and 3rd choice options that you will also be happy with you won't carry as much emotional pressure into the negotiation.

Consider writing a letter to the seller (if it's not a short sale or foreclosure) stating your position and why you like the home. You might consider adding a picture of your family or even submitted a video to potentially soften up the seller.

3. Have your real estate agent ask the seller's agent questions

This can be an invaluable source of information. Although a real estate agent's job is to protect their client's interests, if desperate enough to make a sale they can reveal information that will put you in a better position to negoatiate.

Questions like:
- Why is the owner selling the home?
- Have they bought another home/started making payments?
- How much negotiation room is there?
- Would they be more agreeable to a reduced price if terms (close date, earnest money, down payment, etc) were better?

4. Don't buy a home from someone who is testing the market/tire kicking

That 2nd term is usually associated with a buyer who is not very serious, but a seller can certainly fall into this category as well. Some sellers will not budge from an unrealistically high price.

Have your agent ask the listing agent questions like "Have their been any previous offers, and what happened with them?" This can also be asked in #3 above.

5. Learn about what kind of equity the owner has.

Why? Because more equity may equal more negotiation room in price

This one doesn't apply to as many home in Arizona, with the abundance of short sales and foreclosures, but we are starting to see more.

A simple search through online county and tax records should reveal when the home was bought, how much the mortgage was at the time, and what they now owe if they have refinanced.

So the next time you find those great homes for sale go in armed with these 5 points for maximum success!

Phoenix / Chandler homes for sale http://mc.searcharizonarealestate.com

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Movie Review: Rabbit Hole

2011-05-01T20:26:00.001-07:00

Rabbit Hole: a fitting title for a movie that sucks you in from the very beginning. With a strong cast, a plot that leaves no stone unturned, and incredible directing that was no overwrought, this movie is one of the most underrated in 2010. The movie fascinates watchers with its warmth, reflection, and a real-life perspective of someone who has lost a child. No problems are solved completely, but meaningful conversations are exchanged and the burden becomes slightly easier to bear. I couldn't get enough of the dialogue. Quite simply, it was just beautifully made.

I think it was a smart choice to start the movie after the death occurs. We don't need to see what happened so much as how the characters deal with it.

Although in the beginning Nicole Kidman reveals a little bit of her Australian dialect, the rest of the movie she is believable as an American mother who has lost her son. Becca (Nicole Kidman) plays the mother who's 4-year old son car killed in a car accident. Her character is bitter, cynical, mad, and not receptive to traditional channels of help, i.e. group therapy. The essence of her character lies in the response to other of the other group members, "Why didn't God just make another angel?"

One of the most touching scenes is when she is examining her son's painting on the refrigerator all alone with her thoughts. You can just feel the sadness and despair. As she attempts to get a job with her former employer we find out all of her former colleagues are gone, showing us that life went on without her.

When not at home, most of her time is spent stalking the boy who killed her son, Jason (played by Miles Teller). Over time she develops a relationship with him, one in which they both can almost lean on each other, in an effort to be comforted. Becca needs this as her and her husband Howie (Aaron Eckhart) are continually fighting over keeping memories of their son or getting a fresh start by not clinging to what has gone.

The relationship between Becca and her mom Nat (Dianne Wiest) was well-done, as we find out that Nat also lost a child at 30 years of age. The mother-daughter dynamic is shown it its full glory, and because of what happened to both of them the relationship was strong, but also, strained, as Nat attempted to compare the deaths side by side, which infuriates Becca. The words offered by Nat in the laundry room scene were certainly impactful and calming

As the story progresses Jason & Becca become close, and we come to learn more about the movie's title. We see both of them vulnerable with their guards down, just trying to understand and come to grips with what has happened. Becca learns to car about Jason, which is the opposite of how Howie feels about him.

The relationship with Becca and Jason is very special, as deeper concepts involving parallel universes are discussed, leaving us with the possibility that they exist in other universe being happy. "Somewhere out there I'm having a good time". Wonderful.

Tender subjects are explored superbly, with a no-holds barred approach. Topics such as sex after a child's death, possible infidelity issues, and deleting a treasured video by mistake.

The ending is beautiful and well-orchestrated. I have nothing negative to say about this movie. It's utterly a treasure
10/10 stars

Musical review of "Billy Elliot"

2011-04-29T09:41:00.000-07:00

I was highly anticipating the arrival of Billy Elliot, not having heard much about the production, but because I enjoyed the movie so thoroughly.

Let me preface my review by saying that it only covers the 1st half. My wife and I brought our 7-year old son who usually goes to bed at 8:30, and the show broke for intermission around 9:15 or so and the next day was a school day, so we went home. Not to mention I don't understand a musical going 3 hours (was floored when an employee of ASU Gammage told me this at intermission), preposterous. Most dramatic plays don't go that long. Typically the more entertaining a show the shorter it is. With intermission shouldn't have been more than 2 1/4 - 2 1/2 hours.

The first thing I'll say is the show is probably NOT appropriate for most kids/children, unless you want them to hear every swear word on the book, multiple times, not only from the adult characters but the kids also.

Putting that aside the show was very disappointing. The dialogue was awful, how the characters related to each other, and simply put, the energetic "vibe" I was looking for just wasn't there. Now I understand that it's a pretty dark musical (at least the 1st act), but it just dragged on and on and on. I don't even blame the cast per say, I believe they probably did the best with what they had to work with. The show just wasn't written well, including the musical numbers, as a whole

Billy Elliot was played by a boy who reminded me of Annyong Bluth played by Justin Lee from the TV show Arrested Development, which was certainly an odd choice, working hard to pull off an English dialect. His dancing was a 10 for sure, but the singing and acting I was less than impressed with. Apparently he's not the primary Billy Elliot.

The fact that Elton John was involved in the show certainly has some bearing, but he has put together finer work.

The other characters were not likeable much (of course I don't think they were supposed to be) including Billy's parents and the dance instructor, who did have a good voice by the way. The jump rope scene was also quite breath-taking, which was definitely well coordinated.

There was one show stopping tap routine however, and I thought to myself "Ok, now we're talking" only to see the rest of the act fall in comparison. "Solidarity" was also one of my other favorite numbers.

So although the theatre was packed on a Tuesday night and I'm sure will do quite well in Phoenix, Arizona, I may be the lone soul out there that thinks they just don't do musicals like they used to. Just this past weekend I caught "Into the Woods" at the ASU Lyric Opera Theatre building (I believe that's the name), which was far superior in quality to this one.

I'd give Billy Elliot 5 out of 10 stars.

Movie Review: "It's Kind of a Funny Story"

2011-04-25T11:47:00.000-07:00

"It's Kind of a Funny Story" is a cute, feel-good, kind of quirky movie
that certainly had some potential. Here is my full review of the movie.

With an interesting family dynamic of the main character Craig (Keir
Gilchrist) and his parents George (Jim Gaffigan) and Lynn (Lauren
Graham), Craig feels he can't live up to the standards expecting by
them and his school, and contemplates ending his life

The first few scenes are bad, and for a few moments I contemplated
turning it off, but being the nice guy I am decided to give it some
more time. It started picking up steam, quickly.

It had kinda of a feel of One Flew Over the Cuckoo's Nest, only with a teenager. After being admitted he makes the best of the situation and tries to adapt to his new surroundings

Liked the scene that shows what his lifestyle is "supposed" to entail once he gets out of school and lands the perfect job. The various video clips were interesting to watch.

Learned a new term - "flirt punch".

I actually enjoyed Zach Galifianakis's performance, he was actually quite likable with humor I could get behind - unlike his role in DUE DATE.

Great first scene between Craig (Keir Gilchrist)and Noelle (Emma Roberts), as they had good chemistry

Cute music video number but too long.

Notable quote : "A mental hospital isn't the best place to hook up"

There were lots of cliche phrases ("get busy living') and message toward the end, and I couldn't help but roll my eyes at most of them. The romantic element of the movie was pretty weak.

Cheesy line as a metaphor for the main character's life "It's not a mess, it's just undergoing renovations"

There was a silly dance scene at the end. To wrap up my review of "It's Kind of a Funny Story" pretty weak overall, but it had some nice moments and a few good laughs

Real Estate Lingo 101

2011-04-21T14:59:00.000-07:00

Congratulations! So you've decided to buy a home for sale. If you were in Chandler, Arizona and I could speak to you directly, I would let you know that there are an abundance of new terms & jargon that you might want to become familiar with should you be able to grasp what certain words mean in the real estate world. While this is not an exhaustive list, these are some of the more important ones, at least in your eyes as the buyer. Here are commonly used real estate terms and their definitions:

ARM (adjustable rate mortgage): mortgage obtained that has an interest rate that can change over time, i.e. 3 years, 5 years, 7 years, that will affect your monthly payment

APR (annual percentage rate): total finance charge (including interest,loan fees,etc) expressed as a percentage of the loan amount)

Appraisal: opinion of value based on factual analysis

Balloon payment: Final payment on a mortgage loan that is higher than any singular monthly payment. Generally best to avoid these.

CC&R's (Covenants,Conditions, and Restrictions): applies in areas where an HOA (homeowner's association) exists. document that controls the us, requirements, and restrictions of a property, aka, what you can and cannot do with the home.

Chain of title: history of conveyences and encumbrances (liens) affecting a property

Close of escrow: when title transfers from seller to buyer and documents are recorded

Closing statement: financial disclosure statement that shows all funds being received and disbursed by title. this is the money statement that shows everything $ wise involved with the real estate sale

Disclosure: to make known to another party. all disclosures must be in writing with dealing with real estate

Earnest money: deposit made by buyer to the title company (3rd party entity) as a sign of good faith

Escrow: deposit of funds and documents with a neutral third party (usually title company but can be an attorney). that third party carries out the instructions of the contract

Impounds: trust-type account set up by lenders for the accumulation of borrower funds to meet periodic payments, such as property taxes, hazard insurance, and/or mortgage insurance premiums

Loan Origination Fee: Percentage of the loan amount (usually 1%) charge by lender to the buyer

Owner's title policy: insurance for the property owner that insures the buyer againstloss due to title defects (aka missed liens) not excluded from the policy

PITI: Total monthly house payment including Principal, Interest, Taxes, and Insurance

With any luck you're be a real estate term guru in no time and impress the socks off your real estate agent! Get familiar with these real estate terms when buying a home and you'll have more peace of mind during your next homebuying experience.

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How to Have a Stress-Free Home Sale:Do's and Don'ts

2011-04-17T15:59:00.001-07:00

I know doubt enters your mind as soon as you read the title. Ok, so maybe selling a home can't be stress-free, but you can certainly have a lower-stress sale.

One of the biggest challenges I see in seller is their emotional attachment to the home. They think their home is the best on the whole block,neighborhood, etc, and what they don't seem to realize is that it's a business transaction and they must remove their subjectivity. The buyer doesn't care about the seller's opinion of value, and in this market, they want the best deal and the lowest price. Period.

Often sellers scour the internet and bring the latest updates to their real estate agent's attention, but this is an exercise in futility, as is calling your Realtor daily for updates on showing activity. Many sellers obsess that their deal may fall through, since mortgage financing is so tight in the marketplace and buyers are very conscientious about money that has to be invested into the home for repairs.

DON'T:

Listen to opinions of family, friends, coworkers regarding the pricing of your home. Often they are uninformed about specific information in your neighborhood, and although they may mean well, often it is advice worth ignoring.

DO:

Set up a time to worry. Maybe for 15 minutes, from 8:30pm - 8:45pm you schedule it in your calendar and worry during that time. Sounds silly, doesn't it? Yet sellers let fear consume them throughout the course of the day, into the evening, and even through their sleep. Realize that worry won't help anything. Instead, list the action steps of what you will do if a certain situation occurs. For example, if I can't sell the home, here is plan B.

DON'T:

Talk about the home sale late at night but instead take a "timeout". Look at is as a business transaction, not a personal matter. Avoid letting your emotions rule when it comes to big decisions. Give yourself time to detach from the situation, do yoga, meditate, or simply relax and calm your mind.

Nothing great was ever accomplished by an anxious worrier, so don't be one!

To view homes for sale in the Chandler, AZ area : http://mc.searcharizonarealestate.com

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Getting a Steal on a Deal - Can I Do It?

2011-04-14T10:26:00.000-07:00

As a realtor in Chandler/ Phoenix,AZ I work with alot of buyers who are very conservative about the market, given what they perceive to be a bad economy. People are more money-conscious than they have ever been, and rightly so. Yet with prices in some areas down as much as 65% or more, buyers still want to offer below the asking price. What they are saying is "Every dollar is important so if we can save one then that is one more in our pocket, and that makes us feel better."

When going to write an offer I invariably get asked "How much can I get it for?" or "What do you think I should offer?", and secretly hoping that I'll say they should offer $20,000 less than asking when the home is listed for $100,000. Not much of a chance there, although I'll happily present all offers.

In the Phoenix market foreclosures account for about 44% of sales and 20% for short sales.

As far as foreclosures go, banks generally lower the price every 30 days if they do not accept a contract. Of course they can afford to do this, whereas an individual "normal" seller may not be able to, either because they need a certain net or that would put them into a short sale scenario. Homes for sale in the valley generally sell for about 96% of listed price. I rarely see banks negotiate more than 5% of their list price, although in one case when the home was listed for $160,000, the bank accepted $152,000 AND paid $4,000 of the buyer's closing costs, netting $148,000.

Short sales - price is set by homeowner/seller and listing agent, to be approved by the bank.Unfortunately it is fairly common for the agent to list the home exceptionally low to generate an offer, only to have the bank counter up months later, to the buyer's shagrin.

Normal sellers? Gosh, hard to quantify that one, as they all have their own individual motivation vs. short sales/foreclosures/REOs where the bank is an impersonal entity and it's all about the numbers. Make sure your buyer's agent asks the listing agent why the owner is selling at this time, how motivated are they, etc.

Of course there are many other factors besides price that give weight to your offer, including: closing date, earnest money, how much in closing costs you are asking the seller to pay, and contingencies.

You may be glad you did.

To view homes for sale in the Chandler, AZ area : http://mc.searcharizonarealestate.com

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Buying a HUD Home: Not a Walk in the Park

2011-04-12T20:02:00.000-07:00

Deals about out in the marketplace currently, especially in Chandler, Arizona where I work. At the moment I have 2 buyers with homes in escrow that are labeled as HUD (Housing and Urban Development) homes. As I am educating my clients about the process, it's interesting to see how things are panning out. Before you go under contract with a HUD home, here's what you need to know.

What exactly is a HUD home?

A HUD home is a foreclosed home, specifically one that has been taken over by HUD as a result of the owner's previous FHA (Federal Housing Administration) mortgage.

How much is the down payment?

Unlike the usual 3.5% down FHA loans require, with HUD you can get in for $100. Yeah, you read that right, a measly $100. Now, that being said if you bid over the listed price, it automatically turns into an FHA loan, meaning you need 3.5% PLUS whatever you big over the asking price.

What about an appraisal?

One of the wonderful things about HUD homes is that the appraisal has already been done. Of course this can be a negative if you bid over the listed price (see above), but that will save you about $450 right off the bat. You can also request a copy of the appraisal.

Home inspection?

Home inspection has also been done, it's called the PCR (property conditions report). The challenge is it is only one page and does not give much detail, basically what kind of shape components are in and if things are working. There are no photos. I suggest hiring a separate home inspector (and termite inspector) to put the home under a microscope.

Do I compete with investors?

No, well, not for at least 30 days. If your offer is accepted HUD will require an owner affidavit signed saying you will live in the home for at least 12 months. Failure to adhere to this could result in stiff penalties and other potentially negative consequences. If the home requires substantial fix-up owner-occupants only have the first 5 days the home is on the market to act before investors can enter the mix.

What is the offer process like?

HUD homes are unique in that they only look at bids online. The listing agent doesn't even know if there are any offers on the home, so it makes it difficult to ascertain exactly where you need to come in to get your offer accepted. They look at the highest net price, and give no weight to cash or financing. It's all about the numbers.

Once your offer is accepted you have 2 business days to get all the paperwork into HUD's hands (currently handled by BLB Resources in California). Oh, and you have to send originals in blue ink (fun!). No electronic signatures, faxes, or emails.

I got the fully executed contract back - now what?

Schedule your inspections. HUD only allows a 3 day turn on for utilities, and you have to turn them on an incur whatever costs it requires to do this. It makes doing followup inspections on the roof, air conditioning, etc extremely difficult. Not only that HUD does not provide a code on their lockboxes for appraisers, home inspectors, etc to get in - only your Realtor can access the home, meaning they have to be somewhat readily available.

Closing

Unlike a normal transaction HUD does not pay for an owner's title insurance policy. An owner's policy is basically wiping the slate clean of any previous liens on the home - something most people feel is important when making a purchase. On a $100,000 home this could run an extra $800-1000. Of course if you ask for HUD to help pay closing costs in your offer, this will help tremendously.

Other than that it pretty much operates like a normal sale, awaiting that call from your real estate agent saying, "We've recorded!"

Chandler homes for sale http://mc.searchrarizonarealestate.com
Phoenix AZ Real Estate fan page on FB http://facebook.com/phxazrealestate
Twitter: http://twitter.com/realtormatthew

Why Can't I Handle a Real Estate Transaction by Myself?

2011-04-07T09:06:00.000-07:00

You're smart, competent, have a good head on your shoulders, and excel in your career - why can't you handle a simple real estate purchase or sale on your own? After all, Realtors may way too much money to today's economy .

Let's put it this way - most likely it's the biggest decision of your life, aside from who you marry and what your job path holds.

Why use a professional Realtor to help you?

A Realtor will help steamline the process

There are lots of things going on behind the scenes, from having the title company pick up earnest money, reviewing the title commitment to see what liens are on the home, scheduling appraisal, home & termite inspections, any follow-up inspections, monitoring the progress of your/the buyer's loan (unless countless phone calls doing this), and negotiating price and repairs. Buyers and sellers typically work full-time and then go home to their families. Do you really want to be handling all this during work hours?

Realtors can provide current property status

In today's market (especially in Phoenix, Arizona) homes are seling quickly. You may find calling on every for sale sign you drive by unproductive, as many real estate agents do not return calls.

And inquiring online? Most of the homes on sites like Zillow or Realtor.com show inaccurate statuses that do not update when the listing agent changes status on MLS.

Realtors may be able to negotiate more favorable price & terms

You're emotionally involved in the transaction, either as a seller trying to squeeze every dollar out or a buyer looking for the best deal possible. Realtors are objective and can communicate your wishes and desires without revealing your hand, so to speak.

Think about it this way - would you perform your own surgery? Of course not. You'd enlist the help of a trusted professional. Real estate is no different.

Realtors can help you understand financing options

They usually have several trusted lenders on hand that will get the job done. As a real estate professional there is nothing more frustrating than dealing with an incompetent lender, and there are many of them. The lender will make or break your transaction once the home enters escrow.

Realtors also understand loan options including USDA, FHA, conventional, and VA. They know there are specific appraisal requirements, such as on FHA loans the pool cannot be green.

Realtors work on contingency

What other high-level profession does this? Not many. Enlist the help of an attorney and you're probably looking at $250/hr billing rate. Realtors can provide a world of in-depth knowledge to help you accomplish your real estate goals and don't make a dime unless they help you successfully complete a transaction.

Search the MLS - Phoenix / Chandler homes for sale http:mc.searcharizonarealestate.com

7 Mistakes Home Buyers Make

2011-04-06T10:23:00.000-07:00

You're excited because you've made the decision to buy a home. You realize it may be a ways out, months possibly, but you are eager and ready to start a new chapter in your life. There are endless possibilities and homes for sale to consider. As a realtor in Chandler, Arizona I see buyers doing things that hurt their chances of buying a home & enjoying the home for years to come. Before you hurry and do something you'll regret, make sure you do not make these common mistakes.

Mistake #1 - Making a lowball offer.

I have a client that has found the perfect home priced at $250,000. She wants to make a lowball offer and see how the seller will respond - around $200,000. Problem is the home has been on the market for one whole day. In some cases this will alienate the seller and jeopardize future negotiations. And especially with short sales & foreclosures, if the bank doesn't get their price they will just lower slightly in 30 days. I haven't seen a bank come off more than 5% of list price in a long time. Short sales - price set by seller and listing agent, to be approved by seller's bank. Will sell for what comparable homes in the area have sold for.

Mistake #2 Visiting every available home for sale or thinking about a specific home too long

I encourage buyers to explore their options, but look at the best homes first, and work your way to the least desirable if need-be. While you're looking at backup choices, chances are your favorite home might get away. And then regret sets in.

Mistake #3 Making a large purchase before you close

This one should go without saying, but you'd be surprised at how frequently buyers purchase a new car or appliances to install into the home. Guess what this does? Affects your debt to income ratio for your mortgage which could cause a denial. Up until the day of closing lenders can (and often do) pull your credit report to see if anything has changed.

Mistake #4 Buying the wrong home or a home that's tough to resell

Buyers today are looking for "deals", which are bountiful, but consider if the deal is too good to be true. Homes that back to major streets, up against power lines, have odd floor plans, or need structural work may prove to be an unwise choice. Unless you plan on living in the home the rest of your life or being dissatisfied and having buyers remorse, you might want to exclude these kinds of homes. Although you may get a smokin' deal, the money you saved normally won't offset the feeling you'll have knowing you made the wrong purchase.

Mistake #5 Not prequalifying before you look at homes

Buyers love to look at homes, get a feel for what's out there, as inevitably looking at pictures over the internet may lose its luster. But beware, you may be investing time, energy, and gas in something that's not going to happen. Buyers think they walk on water when it comes to qualifying for a mortgage. What they often don't realize is there are no "easy" loans these days. Even those with 800+ FICO scores have to jump through many hoops to obtain a mortgage. I once had a buyer that had to write a letter to the underwriter explaining why the home he was going to buy had a slightly longer commute to work than his current home. You don't want to fall in love with something you might not get , right? Not only that but usually the best Realtors will not even show homes to non-qualified buyers.

Mistake #6 Working with more than one agent

Interview a few agents and select one. Here's why: not only are you duplicating your efforts to share with each agent what you want in a home, but if any of the agents become aware you are working with others, their tendancy to provide the best possible service declines, and you may find they don't fight as hard for you when getting to the negotiating table. Since they all have access to the same homes, pick one you feel comfortable with, ask a friend for a recommendation, and make sure they can show you homes around your schedule.

Mistake #7 Skipping the home inspection

Even on a new build home. Builders aren't perfect, as homes were built by people. Often inspections run for as little as $295. The investment to know exactly what you are getting into is good insurance/peace of mind. Although I rarely see a buyer cancel a purchase based on the home inspection, the times that did cancel would not have been revealed unless the home inspection was done. You can't possibly see or know everything about the home, and in this environment of foreclosures, banks don't provide disclosures about the home. Don't go in blind.

Phoenix homes for sale - search the MLS http://mc.searcharizonarealestate.com or http://matthewtherealtor.com

Why Can't I Buy That Home?

2011-04-04T20:04:00.000-07:00

So you're looking at homes for sale on the internet and come across the most gorgeous home you've ever seen - granite countertops, 2-tone neutral paint colors, stamped concrete in the front and backyards, epoxy garage floors, pebble tech pool, plantation shutters - the works! And oh my, it's even in your price range. Could it be too good to be true?

Yeah, it might.

If you are an FHA buyer you may run into snags if:

- the home was purchased less than 90 days ago, AND
- is being sold for more than 20% of what was paid at that time.

People that buy to live in the home typically use FHA (Federal Housing Administration) loans because of the minimal downpayment, which is currently 3.5%. The next best option is a conventional loan, which in most cases requires 20% down, a substantial difference.

You see, FHA loans are not big fans of "flippers" - a term used to describe an investor who is buying and selling the home quickly with the hopes of a fast payoff. If the home is being flipped, FHA will not lend on that home unless:

- the seller can provide receipts, invoices, etc justifying the price increase of the home. In other words the underwriter of the loan is saying "What value did you add to the home?" Nevermind that you bought it under market value.

AND/OR

- 2 appraisals must be done on the home. You as the buyer cannot pay for the 2nd appraisal! The underwriter uses the value of the LOWER appraisal. Sound tough? Yeah, it sure can be.

So next time you spot that diamond in the rough and it's not a bank-owned foreclosure or short sale, make sure you do a little homework to see if your dream can be turned into a reality. As a realtor in Phoenix / Chandler, Arizona area I'm here to help

Search the MLS http://mc.searcharizonarealestate.com

What in the World is Going on with the Phoenix Real Estate Market?

2011-03-29T20:30:00.000-07:00

Yesterday 40 - 50 eager & hungry Realtors gathered at the Southeast Valley Regional Association of Realtors (SEVRAR) to listen to one of the most trusted housing authorities in Phoenix speak about where our market stands and what we may anticipate in the near-term future. The presentation? Full of facts, trends, and a nice touch of dry humor that Dr. Jay Butler has mastered.

According to Dr. Butler most of the changes we will cover are going to occur later in the year. First some interesting facts that may be helpful to know:

- there are 1.2M single-family homes, 150,000 condos and townhomes, and 340,000 apartments in the Phoenix metro area
-currently about 40% of home sales are attributed to foreclosures, still a high number
- retail vacancy rate is 14%, office/industrial is 30%, 10% of homes are vacant

The economy is going to have to go through twisting and shaping to get back to "normal". Investors are looking for "deals" is a major factor in this market. This happens to be one of the major components during the boom as well, the only difference being in pricing levels.

After a slow start the local economy & real estate markets should structurally strengthen throughout the year. Lots of people renting right now, as jobs are uncertain and credit is shot for many. "During the boom, people could have a FICO score like their blood pressure, 120/83, and qualify for a mortgage"

Recovery?

"Just because the bottom is found does not mean recovery is imminent. The Titanic found bottom." The audience laughs, knowing the truth in this statement. In the back of their minds they hope for the best. The recovery will not be evenly distributed across homes in the valley and may not include everyone.

What is the driving force for recovery?

Jobs, plain & simple. Currently Phoenix is lagging about one year behind the US economy. The recovery will certainly be anemic, and we aren't going to see a full recovery until the year 2015.

Issues this year

In looking at the buy vs. rent comparison, rent is currently winning. If you factor in maintenance, HOA fees, etc, there is just no contest. Yes, this coming from a Realtor who has a vested interest in home sales, not rentals. But as they say, the truth shall set you free! Buying is a better idea during times of appreciation because the monthly payment can be justified with increasing equity, but we're not seeing much, if any, of that right now. During boom times careers are more stable and buyers are more willing to exert the effort to make a home purchase happen.

Currently we are seeing a substantial increase in people remodeling their homes.

The "strategic default" plan, where owners simply walk away from the home & mortgage, is putting them out of the buying pool for 7 years. Having a foreclosure on your credit report is going to drop you about 150-160 points.

What about buying a home then walking away? Used to be people had a moral dilemma with this, not so much anymore. And you know what? The new purchase lenders aren't probing or asking about this either. Hey, it's not their mortgage/problem - why should they care? After all, banks are being paid millions if not more from the insurance companies to foreclose.

Right now we are seeing vacancies in the valley of 10% in the housing market, compared to 1% historically, and in some areas it is as high as 25%.

One of the things Phoenix has going for it is a strong infrastructure system. People can get around nicely, and many areas of the valley are now access able in a reasonable period of time, most new to the mix is the 202/San Tan Freeway that runs in south Chandler over to Gilbert and east to Mesa.

The dominating force to bring us back has to be owner-occupied purchases, and we're not there, we're not even close.

Census results - 3.2M in the metro Phoenix area in 2000 and 4.2M in 2010.
-Percentage of Caucasian dropped from 66% to 60%, Hispanic increased from 25% to 30%

Biggest job growth in the health section, adding 10,000 jobs over the last 12 months, most other industries are flat.

New homes built - In all of 2010 there were a whopping 5,612. In the first 2 months of 2011 we have 740 already.

New home permit projections - 12,200 for 2011 and 18,290 in 2012 is the consensus between pessimistic and optimistic opinions, vs. 7,112 for 2010

What markets are builders going after?

Infill, active adult communities, green developments, entry market

February sales

8,565 units sold - 43% were bank-owned foreclosures.

Interesting facts

- 60% of homes that have been foreclosed since 2008 have been resold.
- 11% of homes in Maricopa County have been foreclosed on
- apartment vacancies are 11%, normal is 8%

People are waiting to see multiple signs that things are improving, but we are only seeing maybe one sign at a time, and then that sign falters. It's the equivalent of building a layer of dominoes where every time you get one up it just falls down, and at some point you just say "the heck with it!"

As many of those who know me know that I am anything but a downer, but sometimes we have to look at facts squarely in the face and do the best with what we have and where we are. There's no doubt that many people are hanging tight, watching, and holding onto what they have with dear life. and you know what? Not a darn thing wrong with that.

Search the MLS for Chandler / Phoenix homes for sale http://mc.searcharizonarealestate.com

Phoenix AZ Real Estate fan page http://facebook.com/phxazrealestate

Friend me on FB http://facebook.com/matthewcoates1

Twitter http://twitter.com/realtormatthew

Tale of the Winter Visitor

2011-03-15T22:59:00.000-07:00

I'm seeing it more this year than in my prior 4 years of real estate - the out-of-towners from more frigid climates (aka "snowbirds") are attacking homes for sale with a vengeance. In the last two weeks alone, I have been out showing homes for sale to clients from Nebraska, California, Chicago, New York, and Canada.

What's the draw?

I wonder if it has anything to do with 80 degrees temperatures and baseball's spring training season. Yeah, probably. People come out here relaxed and ready to enjoy themselves, and they start thinking about goals, dreams, and visions - "why not own a 2nd home in Arizona so we can escape these brutal winters?" (anyone see the craziness that happened in Colorado?)

Couple that with prices on starter homes being at 10-plus year lows, and cash is certainly king and you've got a winning combination. Lots of inquiries for the Queen Creek area, where homes are flying off the shelf faster than you can say "I'll take it".

Search the MLS for Phoenix and Chandler homes for sale http://mc.searcharizonarealestate.com

What to Know About Short Sales

2011-03-09T11:08:00.000-08:00

First of all, there are no cut and dry answers to short sale questions, rather what the tendancies of short sales are.

My understanding is that short selling can ding your credit 70 - 125 points or so, however, that mostly has to do with getting behind on payments, no so much actually *doing* the short sale itself. In speaking to one of my lenders, some people that have short sold and not missed any payments can get a loan immediately after.

That being said, yes, lenders tend to put homeowners with payments that are current on the backburner - that's not to mean they can't be done, but certainly more difficult and potentially frustrating. If you "can" make the payments you should. I would never encourage someone to purposely miss payments to expedite a short sale, although your bank might.

Keep in mind you also have to show a financial hardship. Without this the changes of short selling are slim.

couple other items: banks sometimes report the short sale differently on your credit,so you might ask how they will report it. Also, you'll want to find out 1) if you will be taxed on the deficiency and 2) is the bank going to come after you for the loss. In AZ we are an anti-deficiency state, so in almost all cases owners walk away free and clear with no tax liability.

Search the MLS for homes for sale http://mc.searcharizonarealestate.com

Saving Up to Buy a Home

2011-03-02T10:32:00.000-08:00

Although many people are struggling with their ability to keep up with house payments, this market provides wonderful opportunities to capitalize on 10-year low home prices. For those who plan on staying in the area for an indefinite period of time provided they have a stable job and stay within a comfortable price range.

Saving money nowadays seems to be more challenging than ever. There are constant commercial messages surrounding us that urge us to "buy now"! Potential homeowners need to stay focused on their goal and summon the necessary self-control to stay the course.

Do you know where your money has gone during the last 3 to 12 months? This is a good starting point. Check your credit card and bank statements and take paper and pencil to those outlays to see how much is being spent on various categories.

Then you want to start making cuts on low-priority categories and start exercising willpower with expenses that are unplanned,such as recreational shopping.

If you are couple set a weekly time to meet to report to each other what your recent spending looks like. This will help you both get on the same page and move closer to your goal..

What about the kind of car you drive? Perhaps the latest model is not the best choice if saving for a down payment on a home. You may need to scale back your expectations. New cars can be extremely expensive, and many people nowadays treat one as a necessity, but it's not. If you have reliable transportation than can get you from point A to point B, it may not have to be the nicest car on the block.

How about carpooling or riding public transportation? You'd be amazed at what this would do for your end of the month savings.

Reduce your insurance costs - examine your insurance costs, auto,home,life, and others, especially if you are self employed, like health and disability. Shop around and see what kind of savings you can generate by increasing your deductible.

Visualize what owning a home would look like for you. If you have a concrete objective in mind you are more likely to save more. And make sure you visit a mortgage lender to determine how much you can afford to spend on a home and what kind of down payment you might need.

Search for homes in the Phoenix metro area
http://mc.searcharizonarealestate.com

Movie review: 127 HOURS

2010-11-21T11:05:00.000-08:00

I came into this movie with high expectations. Danny Boyle, who brought us 28 DAYS LATER and SLUMDOG MILLIONAIRE had alot to live up to with the quality of prior movies, and he did not disappoint. He brought the challenge of creating an interesting movie based on our main character being immobile to life, and captivating it was. Being stuck with our main character the entire duration of the film was anything but tedious, as we follow the thoughts of canyoneer Aron Ralston (James Franco) as he gets trapped under a rock while exploring the beautiful sights of Utah. The camera does a fabulous job taking us everywhere a wandering mind might migrate in a situation such as this.

The human connection element was most fascinating, as we wonder what we would do if placed in a similar situation. We are really "with" Ralston on his journey, as we see him discover a reason to live and how his life perspective changes, not just how to get free from his predicament. The film manages to stay optimistic and warming, despite the frustration and angst felt by Ralston and viewers. And we certainly thank Boyle for some of the lighter moments that temper the severity of the situation.

The film does not shy away from tough choices and certainly keeps it "real" during the entire run, especially during the critical climax scene. Despite being stuck in place the movie is fascinating at the pace with which it moves and keeps the audience's attention from start to finish. So while Ralston loves living on the edge, we see Boyle create this movie in a similar fashion, metaphorically speaking, as the intensity and gripping nature of Ralston's circumstances comes alive and sucks us in.

In the movie Aron Ralston sets off on a typical weekend excursion being outdoors and with nature. During his journey he befriends a couple of female hikers who are somewhat lost and looking to get back on their way. He shows them the ropes of the canyons and they set off home. Little do they know that their friend will need their help just moments later. Becoming trapped under a rock, Ralston now is faced with the challenge of keeping himself alive while trying to break loose from the rock's firm grasp. As Aron works on a solution, we see him wonder about the party he's been invited to just hours earlier, think about how his has ignored his family, wonder about where he left his Gatorade, which would keep him hydrated longer, do a live interview featuring himself on camera, and drink his own urine.

I think the part of the movie that moved me the most actually occurred after the climax, where we see Ralston, broken, desperate, and willing to end his lone-wolf mentality for good. The emotions felt during the last 5 minutes signify human triumph, perseverance, and the power of the human spirit. Incredible movie, a definite must-see

9/10 stars

Movie Review: Unstoppable

2010-11-14T13:07:00.000-08:00

Unstoppable plays out like a basic action thriller that keeps us engaged the entire time. With the train as the center of the story, in a way we get transported back to the days of great entertainment, where the storyline is simple, characters pure, and the dialogue isn't overdone. Here is an action film that stays on track and keeps you glued to the edge of your seat until the high-intensity climax is over. It operates at gut-level mode, as we get to follow all the twists and turns of the main character, runaway train #777. Unstoppable is a summer movie action blockbuster released in a winter spot that doesn't pause for a breath as it picks up steam, and most likely you won't either. It's one of those mindless thrillers that was made so well you probably will miss alot of the detail as the movie literally sweeps you away, which is what a great action movie will do.

Unstoppable is based on a true story that comes out of Ohio where we have a low-level employee who fails to set the air brakes on a train while changing tracks and the issues that ensue as a result. The director Tony Scott, no newcomer to the action genre, sets the stage for the high-octane second half by letting us get to know the 2 main characters: Rookie conductor Will Colson (Chris Pine) and veteran engineer Frank Barnes (Denzel Washington). The two both have their share of family issues, which adds to the difficulty of being able to work together initially. Another dynamic we discover is that the company is forcing employees to be laid off, as evidenced by the fact that Barnes is being replaced by younger engineers such as Colson. The 2 characters provide solid low-key performances and we see the tension that initially exists turn into mutual cooperation to work together for a solution, and then at the end, respect.

Solid performance also given by Rosario Dawson, who is both the eye-candy and sounding board for our heroes, planted where she can see all train activity.

As the movie progresses, we come to find out that this runaway train laden with toxic chemicals is headed towards heavily populated areas, and our stomach starts to sink about the devastating possibilities that may occur should everything go wrong. The plan? to link up to the phantom engine from the back and pull it the other way, coming to a full stop.

It is fascinating to watch the failed attempts to stop the train, which seems to add to the power, giving the audience a realistic idea of how "unstoppable" this train truly is with it's 10M pounds of force going full-steam ahead.

In the end what we are left with is ordinary men putting on extraordinary acts of courage. Where there might be chest-pounding there are a couple of family guys doing what they felt should have been done by anyone in that situation, and a humbleness that brings a more realistic quality to the movie.

I'm glad that the sensationalism was toned down so that the thrills that the movie had to offer truly thrilled me. As others have stated already, Unstoppable is truly a "Speed" on tracks and definitely one of the year's finer action movies.

7/10 stars

Movie review: Fair Game

2010-11-08T15:25:00.000-08:00

Fair Game is supposedly the next up-and-coming JFK type of movie, where we get to take a hard look at controversy and conspiracy. As expected, the movie deals in some very complex jargon and can be difficult to follow. As we get further and further into the movie I began to accept the fact that I was not going to be entertained, and that I was going to learn something about how our government operates, which I did. This happened rather quickly, and I adjusted to the movie playing out more like a doucmentary with highly-skilled actors rather than something like Air Force One.

The 2 main characters become exposed and branded as traitors by their own US Government and find out what it is like to be all by themselves in the fight against a large impersonal entity. White House officials discredit Joe Wilson's (Sean Penn's) account of the government falsifying information to justify invading Iraq. The abuse of power discovered by these characters is pretty incredible, when you have a government that will say practically anything to protect its public image. Lots of drama and fact-finding ensues, and the movie is both compelling and infuriating at the same time. The dialogue is mature and smart, and we draw close into the lives of the married couple, who like diamonds, seem to be able to strengthen their marriage through the trials of pressure.

Valerie Plame (Naomi Watts) and Joe Wilson (Sean Penn) are the married couple, Plame a CIA agent who's identity is exposed, and Wilson who wrote the controversial but truthful piece which lead to the government's destruction of their lives, or at least the attempt. The validity in Wilson's story is apparent by how much uproar and backlash is caused when the government goes public with their side of the story.

7/10 stars

Movie review: Morning Glory

2010-11-03T08:35:00.000-07:00

Morning Glory is a splendid work of film making, comprised of a winning storyline and characters we come to care about. Hats off to the writers, as the script really gives the movie a shot of adrenaline and reels you in. I consider it one of the year's finer comedies in an environment where abrasive humor seems to draw people in droves. What Morning Glory isn't is a romantic comedy or a "chick flick", as what we are tending to see on the previews. Rather, a story of an executive producer determined to turn around a dying TV show in comic fashion.

Rachel McAdams plays Becky Fuller, a laid-off executive producer scratching and clawing for a new job in the industry. She comes across a network station at the bottom of the totem pole and sees her chance. Working with Mike Pomeroy (Harrison Ford) and Colleen Peck (Diane Keaton) as her 2 co-hosts, the challenge just begins when she starts her plan to increase the show's viewer count.

McAdams' character Becky Fuller is inspired, the hard charging workaholic personality, on the laptop late at night searching for that next breaking news story. Of course, by working all the time, her social life is nonexistent. Her energy and optimism is infectious, as she impresses us with on her first day taking many drastic measures needed to make the station better. We come to root for her as she faces complacency and apathy all around her, she rises above it and we watch with bated breath to see what she'll do next. She is very diplomatic and manages to deal with all sorts of personalities for the betterment of the show.

Harrison Ford redeems himself from his role as a scientist in the year's earlier flop "Extraordinary Measures". He portrays Mike Pomeroy, the seasoned news anchor who only does the big stories. His comments about famous people he's interviewed in the past and now has to do a silly morning TV show arouse laughs. Pomeroy is the gruff seasoned veteran of the show, stiff and stern, and brings a prima donna attitude in with him -that he has standards and much of what is requested by Fuller is simply beneath him. Pomeroy comes to change his character to someone more likeable by the time the film ends. Pomeroy's best moments are no doubt when he is putting down his co-host. The adversarial relationship between he and Peck is all too fun to watch. One of the finer moments with Pomeroy we discover that his workaholic mentality voided him of any close family relationships, and we feel for him, hoping that Fuller will take his wisdom and adjust her approach.

Diane Keaton plays Colleen Peck, the primary face of the show, who has been through all the changes over the years, including 15 different executive producers. She is skeptical of Fuller because of how terrible the show is and beyond help, and believes there is no hope. Peck is lively and shoots back at Pomeroy's comments with her own zingers. She is willing and receptive to Fuller's ideas to improve the show, and shows us her zeal by stepping out on faith with the new changes. Definitely one of the gems in the movie and a true pleasure to watch.

There is no doubt magic and chemistry in the air with the strength of the cast. It is fun to watch Pomeroy drive Peck and Fuller nuts, and the sparring co-hosts bring a lively and light mood to the film. We come to care about what Fuller is trying to do, and root her on as she encounters what seems to be insurmountable odds. This is a feel-good inspirational story that builds from the very beginning, never back-pedalling, with a minor romantic element added in.

8/10 stars

Movie review: Due Date

2010-11-01T21:35:00.000-07:00

How far is too far? Due Date provides a great deal of laughs, but lacks the sustaining enjoyment because the undertone of the movie is paved with a road of discomfort and queasy humor to get there. The scripting was key in this one and the characters did amazingly well with many lines that no doubt made the audience cringe and laugh at the same time. It was as if we were laughing but deep down maybe we felt we shouldn't be. Lots of lines that used shock value for laughs. What brought this about was primarily Zach Galifianakis' crazy antics with his most unusual character.

The plot is as follows: Peter Highman (Robert Downey, Jr), successful businessman is on his way to witness the birth of his baby across the country. He becomes entangled with Ethan Tremblay (Zach Galifianakis), an "actor" on his way to Hollywood for his shot in the limelight. Through Tremblay's actions, the 2 end up having to carpoool across the country together, and of course they are on a timeline (we have the successful duplication of the plot line from Planes, Trains, and Automobiles).

The relationship between the 2 main characters works. On one hand we have Ethan, who says whatever he wants at any time. This guy doesn't have a censor button anywhere on him, and his dialogue consists of things that most people wish they could probably share aloud. Downey is confrontational, direct, frustrated, and out of patience. We see the mean-spirited relationship even out when Peter puts Ethan in his place, responding to every idiotic notion that his counterpart has.

There wasn't really a dull moment in the movie, and there were a few heartfelt moments as the audience becomes won over and slightly sentimental by the quirkiness and over the top antics covering the deeply buried emotions of Ethan. A large part of the movie is him saying the most inappropriate things at the most inappropriate and inopportune times.

So I had to ask myself: does me laughing throughout the movie make it a "good" movie? And I had to answer, that yes for the most part that was true. After all it is a comedy, but the comic moments didn't keep my eye from the main storyline, which I felt was weak. What I am trying to say is that although I laughed, the level of enjoyment I experienced from the movie was not in correlation.

One of my favorite scenes had to be Galifianakis' impersonation of Don Corleone from The Godfather.

6/10 stars

Movie review: Hereafter

2010-10-18T22:21:00.000-07:00

Audiences going to this movie expecting another Sixth Sense need to be prepared for what they are about to see: a quiet, thoughtful, contemplative, meloncholy drama about life and death. The movie offers no answers, does not suggest spiritual messages, yet deals heavily with the subject of grief while giving broad strokes rather than concrete details. There is a soft emotional undertone throughout the movie as we see the slow development of the plot, in Eastwood-like fashion.

The movie inches along at a deliberate and meditative-like pace as we see the incremental development of the 3 main characters: George Lonegan (Matt Damon), cursed with the ability to communicate with the dead, a boy in England who encounters death in his own family, and a French woman who dies and comes back to life, with occasional glimpses into her death experience, which is an all-knowing all-sensing state.

The highlights lie in the depth of the characters and not the special effects of the movie, although the visions/connections we see and the tsunami are certainly well done. Some nice comic relief moments are interspersed as well. We see Damon tormented and perplexed by his gift but all he desires is to lead a normal life, thus the catch-22 he faces. His character is guarded and protective, and we feel the pain of his desire to want to shed his Superman-like powers.

On the other hand the finale seems contrived, perhaps leaving the audence wanting more development. The script is weak and matter-of-fact and played a little too close to the line. During a good portion of the movie I sat in contemplative silence not really caring what happened to the characters, as the slowly-building plot line seemed to almost lead to nowhere, almost wondering "is this it?" I was not overly impressed with the London boy's acting, or the French gal's for that matter - a few of the supporting characters seemed much more believable, take for instance Damon's love interest in his cooking class.

Overall the tone of the film was somber and contemplative, thoughtful, and seemed to offer hope that we aren't alone and things always have a way of working out in the end. It's clear that all the main characters in the movie were looking for answers, and migrated in the direction their gut lead them. Some of the scenes couldn't end soon enough, and others had me at the edge of my seat reeling over what would happen next. A fairly predictable ending was lead up to by events that seemed to make sense in the context of the film.

I commend Eastwood for the variety of films he has been working on, and, while I don't believe this to be his finest work, it is certainly one of his (and the year's) most unique.

7/10 stars

15 Inexpensive Home Improvement Ideas

2010-10-18T11:01:00.000-07:00

Everyone knows the big things you can to do your home that will increase its value and marketability: install granite countertops in the kitchen, pull up that laminate flooring and lay down travertine instead, swap out the basic appliances for stainless steel, or put in a pool.

For those of you who don't have thousands at your disposal here are some fixes the you can do on your own to make your home look better for yourself, but also a prospective homebuyer, in the event that perhaps you are waiting the market out to put your home on the market.

1. Get throw pillows for the couch and beds - diversifify the colors and make them bright. They could be just what those pieces of furniture need to make it "pop"

2. Tint your windows, especially ones that receive direct sunlight. This is no longer just for your car and can help you save money.

3. Install ceiling fans. They are relatively inexpensive and easy to install. In Arizona they are practically a must, and people can always identify when they have a "newer" look.

4. Shampoo & clean those carpets - you can rent yourself a carpet cleaner from most grocery stores nowadays. You'll be surprised at what this can do for a room.

5. Painting rooms is a great way to change the appearance of your home quickly and inexpensively, but if you cannot do this wash your walls and baseboards.

6. Hang up art on the walls. Many people have blank walls, and some nice artwork from IKEA (or fill in the blank) can provide some needed beauty.

7. Outside - trim your bushes and plant flowers, especially ones with color, giving yourself nice curb appeal.

8. Purchase landscape lights that brighten up the walkway at night.

9. Candles and flowers for the inside of the home will add charm and provide a focal point.

10. Are you green? Plants placed in the right places inside (on plant shelf, standing in the corner, etc) will be more pleasing to the eye.

11. Throw away anything unnecessary and declutter. This will make the home seem larger and open up the space you have.

12. Clean your windows - doing this will brighten up every room in your home.

13. Spend some time cleaning your bathrooms - these rooms get dirtiest fastest and applying elbow grease will certainly be worth the effort.

14. Lighting and faucet fixtures - get rid of the old and install new energy-saving and efficient ones. Long run you will save money on energy bills.

15. Kitchen cabinets old or worn? Don't replace, resurface/refinish/paint them.

With any luck your time investment will be minimal compared to the results you'll experience.

Looking for homes for sale in Chandler, AZ? http://mc.searcharizonarealestate.com

Movie review: Easy A

2010-10-16T20:57:00.000-07:00

Easy A - a modern-day teen movie that actually works! A John Hughes-esqe flick for the 2000. Fresh content, witty and clever dialogue, charming characters make this movie a winner. Gives us a closer look at the kind of gossip that travels a high school, set up in a storyteling fashion, with the main character talking to the audience on a webcast intended for her classmates (and the movie's target audience)

Our main character Olive, portrayed by new "it" girl (and Phx area native) Emma Stone, aims to grab the attention of the school. Through a simple white lie, Olive quickly, almost inadvertently circulates self-perpetuated rumors that she is the school slut, granting sexual favors to various boys upon request. We see various characters intertwine with Olive, including her hilarious parents (one of which is Stanley Tucci) who use brilliant humor effectively, her best friend who leaves her side, the judgmental oober-Christian, a few faculty members including her tough principal, and the boy in the wings.

This quasi-romance/comedy tends to move pretty quickly - styling the humor to what we see in such shows as 30 Rock or Arrested Development, where if you wait too long to try and get a line the film moves on to the next line.

The bedroom scene where Olive pretends to "get it on" with the gay character is quite the riot, I couldn't stop laughing. Her quick wit is displayed throughout by snappy comebacks with both her high school tormentors as well as her "clientele".

The diverse mix of character personalities kept me continually entertained, especially when I couldn't guess what they were going to say or do next. I really appreciated the authenticity of Olive's character - she was clearly an atypical high schooler, yet you could identify with her and want to root for her, all while she stayed believable.

Grade in my book: 8/10 stars

Movie review: Waiting for "Superman"

2010-10-07T10:32:00.000-07:00

Occasionally a movie comes along that makes you really think. In this case, about systems set up in our society, and we ask ourselves "does this work?". We are forced to look at hard truths and evaluate the effectiveness of systems put in place long ago - "Waiting for Superman" is such a movie. In this movie we plainly see how our antiquated educational system, while well-intentioned in it's inception, is not getting students where they are supposed to or need to go.

The film takes us through the lives of many kids in the public elementary school system and points out many staggering statistics all along the way to show the present harsh realities for both teachers and students. We are shown that over the years nothing much has changed in the way of test scores and we are actually one of the poorest-performing nations in terms of academics compared against other nations considered world powers.

The movie does a nice job of picking apart the "No Child Left Behind" campaign enacted by President George W. Bush. While created to keep everyone on grade level, enforcing the concept of testing and testing again has become a detriment to learning new material or any emphasis on athletics or the arts, for example. The act also prevents the best students from doing their best as all children must have the same baseline for testing and must stay together in scores. The teacher's focus seems to be on working with the slow learners, leaving little room for growth with average and high performing students.

As 68% of prison inmates are shown to be high school dropouts, we then come to learn that it costs the state (and its people) $32,000 a year to "house" a prisoner. Over 4 years that's almost $130,000. Rewind the clock and send that same person to private school ($8,300 per year) over 13 years is $108,000, leaving over $20,000 left over. Amazing.

Enter Michelle Rhee, who is literally turning around the Washington D.C. school system with her modern methods for a system riddled with apathy and entitlement. It was encouraging to see how she is bringing dramatic changes that are long overdue. We are also introduced to the Teachers Unions, put in place to protect the teachers well-being. The movie suggests these unions impede the interests of the children, and what is even more interesting is they insist upon no special designations given to any of the members-good nor bad- allowing bad teachers the same privileges (ie. tenure) as great teachers, who can not be formally recognized. Everyone is equal. Isn't that like communism? Again, entities that were formed with the purpose of helping the schools are now hindering its progress.

The worst of the worst teachers, and by that I mean these teachers have purposefully acted in a way that is harmful to themselves and their students, while waiting for disciplinary actions (which typically amount to 3 years), wait in the "rubber room" while receiving full pay and benefits. If that doesn't outrage all of us, I don't know what will.

Charter schools are presented as the protagonist to this story. The major caveat is that in most cases, you have to be selected from a lottery, and the numbers don't look good. Poorly performing children are placed in this system and do unbelievably well, as a rising tide lifts all boats, or, kids live up to the expectation levels of the teacher.

Extremely compelling, those with children, thinking about having children, or in the education field owe it to themselves to watch this movie.

9/10 stars

Movie Review: Red (2010)

2010-10-05T08:04:00.000-07:00

What do you get when you cross an overly-used plot line, a few cool action sequences, big name actors, and alot of shoot-em-up scenes? A so-so movie called Red, that's what.

Saw this screening last night in Scottsdale and to its credit, will have to say that pulling off an action-comedy is certainly tough. After all, how many quality movies like Lethal Weapon, Ghostbusters, or even more recently Kiss Kiss Bang Bang can be made?

So Frank Moses' (Bruce Willis) life is in jeopardy, and to protect himself and get to the bottom of it he assembles his old team- former black-ops CIA type agents who were the best at what they do- including Joe Matheson (Morgan Freeman), Marvin Boggs (John Malcovich), and Victoria (Helen Mirren). His would-be girlfriend, who he's never met, also gets dragged into the action. For some reason her life is now threatened as well since she and Moses have communicated so much on the phone (Sarah Ross/Mary-Louise Parker). That is quite a stretch, but you don't see this movie expecting a stirring, or even plausible, storyline!

Mary-Louise Parker is pretty fun to watch throughout the film, doing one of the best jobs with the comic relief timing, along with John Malcovich, who never fails to please. Willis, Freeman, and Mirren just didn't do much for me and I can't help but blame the director for what he was trying to pull out of the actors. They had to do the best they could with what they were given. Surprising performance by Karl Urban who plays the primary law figure chasing Willis. Enjoyed watching the intensity of his character whilst rooting against in character in the hopes the Retired Extremely Dangerous (RED) clan would prevail.

One of the other guys on the "hit" list is Richard Dreyfuss, who also provided an enjoyable, but still average performance.

A few notable scenes that won't give away the plot - the bullet of a 357 magnum going up against an RPG "bazooka" type weapon, fight scene between Willis and Urban, a guy who we see get blown to bits literally, Willis step gracefully out of a car doing a 360, Willis putting Parker's contact lens in his eye, Malcovich running after the police with a bomb strapped to him, Willis breaking into a highly secure room by kicking in the flabby wall next to the entrance door, etc

Overall I felt the movie just tried too hard to be funny and several of the scenes are just plain uninteresting, but I had a good time as 12 of my friends joined me to watch it.

6/10 stars

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I've Prequalified to Buy a Home - Now What?

2010-10-04T12:52:00.000-07:00

Congratulations! You have done probably the most difficult thing possible in today's real estate environment - prequalified to a mortgage loan. Since underwriters have swung the pendulum the other direction in terms of ease in qualifying, you should give yourself a pat on the back for passing this hurdle. Many potential homebuyers cannot pass the credit or income guidelines nowadays. As a realtor in Chandler, Arizona I see many pointers to pass along to buyers.

It's time to start a more formal version of your home search and choose the right realtor. I've no doubt that ever since you started talking about buying a home you've been online skimming websites to get an idea of what is on the market given your particulars. While this can provide a wealth of knowledge and information and give you a general idea of the market, you really need to progress to talking to a realtor for more specialized knowledge. Here's why: a realtor sees what is happening with homes day in and day out and will be able to give you a more specific take on what is takes to get a home into escrow these days.

Here are a few things to keep in mind when selecting a realtor

Buyer agent vs. listing agent

- most agents are stronger in/do more transactions on either the buyer's side or the seller's side. Choose an agent that is stronger with buyers. Buyers' agents tend to have better rapport with the agents that will most likely be listing the property you purchase, and may be able to get "inside information" from that specific agent as to how you need to structure your offer to get accepted.

Is the agent full-time?

While you may feel the tug/push from a family member to use uncle Bobby or a friend who works at a job from 9 - 5, generally this should be avoided. Full-time agents tend to be more serious about their career choice and have invested more time working with buyers and sellers, studying the market, and have a better overall "feel" of the market to provide you with the best advice possible. Your friend or family member will eventually get over you not using them, but will you ever get over possible mistakes that may be made if buying your dream home goes awry? Since this will most likely be the largest purchase of your lifetime you may consider employed the best professional for the job, just as you would any other facet of your life.

Is the agent well-connected?

This is important because often times you need access to services beyond just the realtor himself. There are about a half dozen businesses involved in a typical home purchase, from title to lender to home inspector to termite inspector to attorney (at times), and on and on, and this doesn't include any possible contractors that may be needed. Realtors that employ the "team approach" tend to be more resourceful & reliable vs. the lone wolf Realtor who has trouble making quality recommendations.

Timely communication

Does the agent call you back in a timely fashion and relay information as it's requested? Keep in mind the transaction is most likely going to go how your initial interaction goes, so if the agent is slow in responding to you before you start looking at homes, how well are they going to "pull it together" during the escrow all the way to closing? Look for consistency.

Where does the Realtor work/specialize in?

Realtors tend to work in certain areas. Be leery the Realtor that says "I work the whole valley". What that usually means is they can't keep themselves busy enough to specialize so they will take whatever they can get. Realtors that know certain areas/cities tend to be more valuable because they can answer questions about that area with authority.

In summary:

Intuition can play a major role when selecting a Realtor, but have it backed up with facts and answers. Do you homework - ask the Realtor to supply 2-3 happy clients they have helped in the last several months and ask them as an objective 3rd party. Ask family or friends for recommendations and actually interview a few Realtors just like you would a job interview, and go with the best.

Looking for homes for sale in Chandler, Arizona? http://mc.searcharizonarealestate.com

Movie review: Facing the Giants (2006)

2010-10-02T14:27:00.000-07:00

Watched this sleeper at the recommendation of a handful of friends, oh boy was I ever glad I did. This is one of those movies that you either shrug off as being "another inspriational sports movie" or let have an impact on you and change the way you live your life. I chose the latter. The movie was well-acted and the characters believable, but the message was better than the movie itself.

We've heard the plot line before: losing high school football coach (Georgia in this instance) turns his team around. I could count dozens of sports movies that use this, most of which are fairly enjoyable to watch, but also cliche, not to mention I am not that big of a sports guy (yes, I know, I'm in American male, what's wrong with me...haha).

How Facing the Giants is different is when the coach feels there is no where else to turn as he is about to be terminated after 6 losing seasons, finances are tough, and he and his wife can't have a baby, instead of digging down and finding the winner in him and "working harder", he turns to his faith. Spurred on by an unexpected visitor with a profound message, the coach starts to think about his own life and how it is unfolding. I know alot of critics and audiences are immediately turned off by this, but I have seen evidence of faith at worh in others lives many times, similar to fashion and examples offered up in the movie. It definitely made me take a look at the way I live my own life and yes, tears were shed.

As the coach puts more faith and trust into God his life slowly starts turning around. His players evaluate their own relationships with each other, one mends a relationship with his estranged father, and his fellow coaches start incorporating faith into the football practices. As the movie progresses we see students using the coach's football field to meet for prayer and repair & heal broken relationships, a car anonymously donated to him (his previous car being on its last leg), his wife finally becomes pregnant, one of the teams they lose to in their journey becoming disqualified for cheating, and his team movin to the state championship level.

One of the most memorable scenes in the move was the "death crawl" scene where the coach pushes one of his key players to give his all and ends up doing something totally unheard of to all the other players. At this point the belief starts to snowball for the team.

The final scenes of the movie revolve around the teams rivalry against the champion state team, who has taken the title for the last 3 years running - a team that is clearly faster, stronger, and 3 times the number of players available. You can probably guess what happens, but some divine intervention provides some influence for a team poised for greatness. Makes me think "Am I preparing my fields for harvest, or just waiting for blessings to happen?" Perhaps you may ask the same question when you watch the movie.

7/10 stars

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Movie review: Life As We Know It

2010-09-30T08:26:00.000-07:00

Humorous, contemplative, heart-felt, enjoyable, and tugs a little at your heart strings. These are the words I would use to describe Life As We Know It, a new romantic comedy starring Katherine Heigl and Josh Duhamel. The story is about 2 friends of a married couple that inherit their baby girl when they die in a tragic car accident shortly after the baby's first birthday.

Although the movie storyline and ending are predictable, I felt myself getting caught up in the characters and story in spite of the predictability. I was thoroughly entertained during the movie, from the beginning set up of the main characters mutual disdain for each other through the end where we witness the completed circle of their roller coaster year at the little girl's second birthday.

Of course we have the typical very attractive lead characters, chef/cafe owner Holly Berenson (Heigl) and sports tv technician Eric Messer (Duhamel). They had great chemistry together, and were able to pull off their scenes well. Holly's love interest Dr. Sam (Josh Lucas) brings the typical complication to the romantic comedy genre, and of course the audience thinks he is a great guy, but we're always rooting for the unlikely outcome that perhaps doesn't have much basis in reality.

Minor characters of the nosy friendly neighbor, a gay couple raising a child, the Child Protective Services worker and a couple of others bring some fresh humor to the mix, keeping the lead characters, as well as the audience on their toes.

A truly memorable moment at this Tempe screening, was when I and the entire audience couldn't help but laugh when they put up a picture of Phoenix that was obviously a cut and paste job of several notable parts of the area, next to a sign saying "Phoenix, Downtown" just to make sure we knew where it was supposed to be!

There are plenty of memorable moments including the new guardians trying to get the baby to eat the homemade organic food of the professional chef, the toddler's first steps, and the realistic arguments. And a couple great quotes like, "She's making the poop face", "Yes honey, I'm your mommy", and my personal favorite, "Having somebody help you doesn't mean you failed, it just means you're not in it alone."

Movie was about 2 hours, which seemed a bit long for a comedy, but I was entertained enough to not notice the time.

I give it 7/10 stars.

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Meet Toby, the youngest realtor EVER

2010-09-21T18:50:00.000-07:00

Time to Make Your Move - Is the Market Prime for Single Homebuyers?

2010-09-20T10:51:00.000-07:00

With the real estate market where it is, could the time have come for the single person to capitalize? As a realtor in Chandler, Arizona I do believe the market is poised for opportunity with this demographic. I am finding renters excited to be owners.

Of course purchasing doesn't necessarily make sense all for single renters. One should have steady employment and plan on having it into the foreseeable future to consider a move such as this. That factor being put into play, there are tons of great deals to be had on a home in this market, contrary to the feeling of fear the general public has to buy. In addition, you have interest rates at historic lows so payments can be very close to, if not better, than what you are already paying for rent.

Another factor influencing a possible purchase is the fact that rental rates are steadily rising, based on ever-tightening credit standards to be able to purchase a home. More and more people are turning to rental housing. And of course you have all these owners who are being foreclosed on and short selling their home that have no choice but to go into a rental.

If you are single and considering leaving the tenant game, most importantly is looking at a purchase as a lifestyle choice/living expense, not an investment.

Don't go overboard on your purchase

Avoid adjustable rate mortgages (ARMs) and payments that may be too close for comfort. You don't want to break the bank, and you definitely want to leave cushion on a monthly basis for unexpected expenses. Make sure all the liquid cash you have doesn't go toward the down payment and closing costs, leaving you dry. Remember it costs to move and you may have some fixing up to do before the home is move-in ready.

Before you step foot in a home decide on what kind of monthly payment you are comfortable with and talk to a trusted mortgage lender.

Possible roommate situation?

Seek a property that could be attractive to a potential boarder, should you one day nee the rental income. Having a roommate could be a way to make ends meet when you have a tough month, so keep an eye on 2 and 3-bedroom homes and avoid 1-bedroom and studios.

Stay connected with your social life

Most singles value their personal life immensely so make sure your move doesn't make it tough for them to see you. Make sure you select a place that's near (not necessarily on top of) your circle of friends so that it's easier for you to stay in touch and be close to get together. Make sure to stay in contact with friends during this transition in your life.

Search Phoenix homes for sale http://mc.searcharizonarealestate.com

Movie review of The Social Network

2010-09-16T21:45:00.000-07:00

Here's what we have been waiting for - one of the biggest films of the year that almost no one has heard of yet. The Social Network is based on Ben Mezrich's book The Accidental Billionaires

The opening shows us Mark Zuckerberg, played by the talented Jesse Eisenberg, talking to his girlfriend Erica/Rooney Mara. The conversation revolves around how Zuckerberg can break into the elite clubs of Harvard. He ends up insulting her unintentionally and she breaks off the relationship. From the get-go we pick up on Zuckerberg's personality, and throughout the entire movie we don't know whether to hate his guts or give him a hug - it's an interesting dichotomy.

The movie is off and running from the start and if you blink you may miss some of the humor. At times it feels like I home home watching Arrested Development or 30 Rock, only this is even better.

Zuckerberg, drunk and upset after the breakup, decides to put together a program that allows classmates to "rate" girls on how physically attractive they are. He does this so easily, clearly not work to him. he is truly in his zone. The site gets so many hits so fast the entire Harvard online system crashes. He has certainly drawn attention to himself, while infuriating many, especially by twin brothers Cameron & Tyler Winklevoss (Armie Hammer & Josh Pearce) and Divya Narendra/Max Minghella, who had hired him to work on programming their similar dating-driven Harvard-student-only database. The twins row for the Harvard team and have what Zuckerberg wants - the exclusivity.

We see Zuckerberg initially agree, then put off the brothers all the meanwhile working on a project that has started developing in his mind: The Facebook. Of course The Facebook is a hit and in its first day 650 students sign up. Zuckerberg's partner in action and CFO is Eduardo Saverin (Andrew Garfield). He co-created Facebook. We learn inception day is 1/11/04 (same week my son was born - yay!)

Thinking their idea was stolen, the rest of the movie revolves around conversations at a boardroom table with attorneys and the players about what actually transpired. Zuckerberg claims to not have stolen their idea, that their idea was archaic in nature and wouldn't work. The brothers believe otherwise and pursue legal means to lay a stake on the Facebook fortune.

Enter Sean Parker(Justin Timberlake), founder of Napster, who becomes aware of Zuckerberg's pursuits and seeks him out in an attempt to capture a larger audience. Wooed by his vision of what is possible for the company and his personal life, Zuckerberg bites hook, line, and sinker- and at this point we start to see a division between Zuckerberg and Saverin.

The company is expanding and needs help, so how do we recruit the best? By making the best programmers work intensely while doing shots of course! And hire the best one.

Infuriated by having the company run without him Saverin puts a hold on the company funds/his personal account. Later we see payback by Zuckerberg in the way of decreasing Saverin's company share from 34% to .03%. So we come to see Zuckerberg as cold and calculating, taking revenge in ways that would be beyond most people.

We later see Parker involved in a drug bust involving interns with the company, increasing Zuckerberg's stress level.

As the company grows so does Zuckerberg's desire to reunite with his former girlfriend Erica, but it's clear she has moved on and has been utterly humiliated by Zuckerberg poking fun of her on his blog (although in his mind he was just sharing thoughts and had no intention of hurting anyone)

The movie ends with Zuckerberg settling and paying out over $65M (chump change) to his accusers, and hoping that Erica will approve his friend request. I don't think the audience held their breath thinking this would happen.

Jesse Eisenberg does an uncanny job portraying Zuckerberg. There is little to no emotion, yet his eyes and mannerisms speak volumes. A very intense person with a sharp mind, Eisenberg's words primarily at the conference table shock the ears and startle the mind, as his verbal combativeness quiets attorneys who have been practicing for years. Yet there is so much truth in his words. It's as if the audience is thinking, "Now I wish I could say something like that if I were in that same situation", yet most people are afraid. Zuckerberg's boldness stands out and the audience can't help but to command respect for him.

Other outstanding performances by the twins, who have some of the most memorable lines in the movie "I'm 6'5", 220 pounds, and there are 2 of me!" "It'll be like we're dressed in skeleton costumes chasing Karate Kid around the school gym", etc

This movie may come to define our generation, in part because it's about Facebook, which has revolutionized the way we communicate, but because the message of standing your ground when you believe is right never goes out of style, and an idea can be so powerful that it is greater than those who think and act on it.

David Fincher captured my attention when he created The Social Network. I give it 9/10 stars because while there are no negatives it's not anything compelling enough to push it to a 10.

Movie review of Wall Street:Money Never Sleeps

2010-09-15T06:48:00.000-07:00

Saw the movie screening in Phoenix last night, went in with incredible expectations: could this actually live up to the original? Was this really the anticipated sequel of the year?

Left the theater thinking "this was a decent movie but I can't rave about it to the people that I know" It's one of those movies where I can tell people to go ahead and wait for the DVD. Maybe I was expecting too much, I don't know.

So the movie opens with Shia LaBeouf/Jacob Moore trading on Wall Street and in a relationship with Gordon Gekko's/Michael Douglas' daughter, Winnie Gekko/Carey Mulligan. Frank Langella/Lewis Zabel runs a top investment banking firm who's stock price takes a turn for the worse when rumors spread by Josh Brolin/Bretton James go viral. Lewis Zabel is a company well-known by moore and is overconfident about what it can do. As a result of the stock plunge Zabel ends up committing suicide. This puts Moore's mental wheels spinning.

We find out that Gekko is being released back into the world from his prison sentence and will have to start over in a technology-dominated society. Winnie doesn't want to reunite with her estranged father, but Jacob finds himself seeking out the famous icon from the 80s, forming a kind of partnership behind his finacee's back.

As the movie progresses Moore comes to find out through Gekko that Bretton was the instigator of the rumors circulating about Zabel and directly caused the plunge so that he could profit in his own personal account. Revenge and vendetta then consumes Moore to the point where through rumors of his own causes Moore's own company stock to take a nose dive. Getting the attention of Bretton, Moore is offered a job in his company in the energy stock field, which he accepts, almost unwillingly, but what he believes his fiancee Winnie would want ("financial security").

As men most often do with trying to please a woman, he couldn't be farther from the truth. Winnie wants nothing to do with big money and has practically run away from it after her father being imprisoned for so many years trying to make it illegally.

The movie goes on and Britton crosses Moore on an investment move that Moore doesn't agree with and he ends up quitting, then plotting a way to expose Britton for stock manipulation of the Zabel stock, and not going with Moore's firm belief to invest into a fusion stock company

We also find out Winnie is pregnant and the beneficiary of a $100M trust fund in Switzerland. Gekko approaches Moore to get Winnie to release the money somewhere, as if she doesn't she will be found of tax fraud and other big charges. They decide to funnel the money into the fusion stock previously neglected to Britton. So all is said and done, but then, when does the money end up going without Moore's or Winnie's knowledge? Oh, just Gekko's bank account. Ha, he pulled a fast one!

We later see Gekko back in "the game" trading like he used to in England, successful as ever. Moore goes to see him to inform him that he has a grandchild and to trade being involved in his grandchild's life for the $100M owed back to Winnie. Being the businessman he is Gekko declines the offer but at the end of the movie comes around.

We last see Britton starting the process of indictments and questionings about his direct involvement in sabotaging the Zabel stock in order to profit.

Michael Douglas of course delivers a strong performance, as does what seems like newcomer Carey Mulligan, who has several emotional scenes that are very genuine. Loved watching Frank Langella in the beginning, and the audience feels compassion for his character, who seems wrongfully persecuted. Brolin is the consummate bad guy, eating up anyone who stands in his way, making money hand over fist and reemphasizing the Hollywood theme that "people who have lots of money are bad". Shia is pretty strong in the role, but I just couldn't help but think he was too young to pull it off credibly. Cameo appearance by Charlie Sheen as Bud Fox (humorous scene to the audience), and it was a pleasure seeing Susan Sarandon play Shia's mom who needed money to keep her houses afloat. She also pulled off the dialect well (can't remember of Staten Island, or what part of New York she's supposedly from)

There are definitely some notable quotes in the movie:

"Not only is greed good, but no it seems it's legal"
"the mother of all evil is speculation"
"kids cut their teeth on the bones of their parents"

The speech given by Gekko upon his release was pretty enjoyable to watch, as he discussed the concept of moral hazard (using someone's money with no responsibility), how we got into this mess, why it's more challenging today, etc were discussed.

the movie was enjoyable to watch, but there just seemed to be some missing element: I can't even place it. I just left the theater not being blown away, nor was I disappointed, it's one of those movies where I can truly say to people "it was OK".

7/10 stars

What's REALLY going on in the Phoenix real estate market?!

2010-09-10T09:23:00.000-07:00

As our market trudges along, I can't help but wonder what the average person thinks about our current market conditions. Although there is no denying the dismal immediate future, there is a light at the end of the tunnel.

First let's go through our challenges:

Foreclosures

It seems to be inserted into most conversations about Phoenix from people who live elsewhere. Any why not? We are the #3 or #4 foreclosure state in the nation, depending on whether we move above or below California in any given month. Top 2 are Florida and Nevada.

Many Arizonans exemplified the American way off take all the money out of your home to take a vacation, pay off student loans, credit card debt, car loans, but a NEW car, etc. Some of these reasons are more noble and smart than others. Others (most actually) bought at the peak, looking to "get in" before it was too late and prices went up even further. Qualifying for loans they really shouldn't be qualifying for, there's no doubt financial institutions are to blame as well. We all kind of got "swept away" with emotion.

For the record the peak median home price in Phoenix was $260,000. Last month it was $123,900

Umemployment

Although we have been hovering around the 10% range I believe we are now closer to the 8-9% percent range. In fact this area is improving, as evidenced in a recent article written by the AZ Republic that some companies are starting to hire again

Upside-down homeowners

Many would-be buyers who would love to take advantage of prices aren't buying because they are upside down and are not looking to short sale/short sell their homes, and won't rent them out because the mortgage payment exceeds what they can get in rent.

For those who actually have any equity (gasp), many of the "deals" on foreclosures and short sales cannot be bought if the owner must buy contingent on the sale of their home.

Tax Credit

This is a negative because it went bye-bye. Although an artificial stimulus to home sales, it was one that we needed during this time and there is no doubt that home sales have fallen off as a direct result of its disappearance.

Savings, or lack there of

Others looking to purchase simply don't have the money necessary to buy. You need a down payment of 3.5% in order to purchase, and wages are pretty low right now due to layoffs, etc, and other living expenses are taking precedence, not to mention most individuals do not have a systematic savings plan in place.

Getting the mortgage

Big one, many who have money and a job don't have the credit. The aftermath of the foreclosure crisis is many people are going to have to wait anywhere from 2-7 years to buy again, depending on whether they filed bankruptcy, short sold their home, or were foreclosed on.

Even if they didn't go through this, any credit score below 620 is having major difficulty in obtaining financing.

ON THE BRIGHT SIDE

Interest rates

With historically low interest rates in place, you couldn't find a better payment or interest rate structure around if you tried.

Prices cannot be beat

Although there may be some more downward movement for prices (especially homes $150,000 plus), no one can dispute that housing is more affordable now than it's been in 10 years time. Market bottom one was 4/09 with $119k and we may approach that again (currently at $123k), but there are so many deals on starter homes right now it borders on ridiculous.

Although it will take awhile to pull out of this, opportunities abound for those who can avail themselves to it.

For more information about homes for sale http://mc.searcharizonarealestate.com

Author Matthew Coates, West USA Realty Revelation
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Reduce Debt and Build Savings to Buy a Home

2010-09-08T10:04:00.001-07:00

Although people yearn for home ownership, especially those in their late 20s to early 30s, buying a home today has become quite a challenge for some, primarily due to little money saved and an ever-increasing pile of debt.

In Phoenix the median home price hit $123,000 last month, down from $129,000 just one month earlier, so housing has become incredibly affordable again. However, that being said the barrier to entry can seem daunting for cash-strapped borrowers.

With the difficulty in obtaining mortgage financing, many would-be buyers have found themselves out of luck, especially those carrying alot of credit-card debt and student loans.

Where do you start? With a strategic plan to cut debt, reduce expenses, and build savings.

Want some pointers?

Do you know where you money is going?

Take a look at your day-do-day spending over a 3 month period of time. You can do this via computer or pen, but you will be surprised and how much money you are spending in different areas. And although time consuming certainly worth it.

Create a spending plan

Now you know where the money goes, so create a budget that allows you to meet needs, but cut superfluous spending and route that money to your down payment fund. Closely evaluate your spending and take a look at where reductions may be in order.

How about carpooling or mass transit instead of driving solo to work every day? Brown bag that lunch instead of eating out each day.

About that debt...

In most cases we cannot avoid educational/student loans. The challenge is that even after school it complete, many people tend to accumulate credit-card debt, containing interest rates much higher than student loans. So, get aggressive with getting debt under control.

There's no doubt is take discipline to pay down debt and sacrifice instant gratification, but there is a light at the end of the tunnel.

But my friends say....

Your friends may try to dissuade you from this worthy goal, citing what a bad time to buy it is, how bad unemployment is, low consumer confidence, etc. Give in to their wiles to postpone a home purchase and you might one day carry the pain of regret, especially after markets have strengthened and home prices have come back. Look over period of low consumer confidence, many people got the best deals on real estate/houses.

For more information about homes for sale http://mc.searcharizonarealestate.com

Author Matthew Coates, West USA Realty Revelation
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cell 602.332.3321

Movie review: Inception

2010-09-06T18:57:00.001-07:00

Inception: controversial, grossly misunderstood by many, criticized for its complexity, yet it is my favorite movie of all time. Why? Because of the way it made me feel and how clever the plot was. You actually had to think during this movie, and whenever you have to use mental skills to keep up with a movie and the movie is superinteresting, I am all over it.

Let me see if I can simplify the plot: Leonardo DiCaprio/Dom Cobb is a professional extractor. He steals people's thought/ideas from them when they are sleeping. A character in the movie hires him (Ken Watanabe/Saito) to "incept" an idea into his competitor's mind. Inception defined is true inspiration, an idea that comes to you from no outside source. The idea Saito wants planted is for his competitor to break up his father's business empire, thereby eliminating the competition.

Cobb is hesitant because inception is very difficult to perform, however agrees because he sees it as the only way to get back to his kids (he is accused or murdering his wife and is on the run).

The remainder of the movie revolves around Cobb and his team performing inception on Cillian Murphy, who plays Robert Fischer. His team consists of Joseph Gordon-Levitt/Arthur - the wingman, Ellen Page/Ariadne - the primary architect, Tom Hardy/Eames - the forger, and Dileep Rao/Yusif - the chemist/compound creator.

Cobb's dead wife Marian Cotillard/Mal keeps sabotaging the plan because she is in all the dreams, because Cobb is there and he has "projected" her as real (not going to elaborate here)

At the end the idea is successfully implanted in Fischer's mind and it looks like everything is going to be fine for all of the characters, or is it?

We are left wondering whether the whole movie is a dream or reality, and based on the ending the director Christopher Nolan has left it up for interpretation.

I don't think it's an action movie, a guy's movie, or a thriller - it's a thinking person's movie. Not for the person who just wants to be "entertained" but rather one who is open to engaging and formulating different conclusions based on ideas presented throughout the film.

Inception can be put in the "mind-bender" movie category, along with The Matrix, Memento, Mulholland Dr, and Vanilla Sky. I believe that the kind of people who enjoy this movie are those who are open minded, can articulate their thoughts well, and young spirited. It is a movie you either like or hate, no one really walks out saying "it was ok".

As a result of my fascination with this movie and the deeper message I see as clear as day, which is you can create your own unique life experience, I have seen the movie 5 times to date. Of course I am frequently teased by friends and family, but that is ok, that tells me that they don't understand the movie the way I do.

Take for instance the scene where the team sits around the white board with the phase "I will break up my father's empire". Why can't we use that in our daily lives with positive affirmations, thereby bringing into reality exactly what we have envisioned. Unfortunately, many people are unaware or unaccepting of how powerful their mind is, and are therefore not in a position to take advantage of the concepts. Positive in, positive out. And conversely, negative in, negative out!

Enough of my soapbox, the movie is 10/10 stars, raising the bar for Hollywood films in an era where shoot em up and laugh at mindless comedy is prevalent. My hat is off to you Christopher Nolan, I cannot wait for your next film sir.

For more info, "like" the Inception Deception fan page http://facebook.com/inceptiondeception

movie website: http://inceptionmovie.com
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I Want to Find a "Friendly/Good Neighborhood" When I Buy a House

2010-09-06T08:03:00.000-07:00

As a realtor in Chandler, Arizona the first thing I usually hear from homebuyers is that they want to buy a home in a "good neighborhood". When I inquire what that means to them the #1 answer tends to be schools, which I believe to be reflexive in nature, but deep down I know they are also looking for a neighborhood where the area is friendly, where you actually know who your neighbor is and don't cringe when you leave you home to go to work in the morning because you see each other so infrequently and feel bad about not being a better more approachable neighbor yourself.

Peter Lovenheim, an author who has written extensively about finding community in the United States gives us perspective on how to find what we are looking for.

Contrary to what people think there is actually no correlation to the income level of a neighborhood and its friendliness. And based on my experience there might even be a slightly negative correlation, meaning the better off the neighborhood the less friendly and approachable its people are, at least in Phoenix, AZ.

It is truly more difficult to buy in areas that are considered friendly and have closely-knit neighbors. One of the biggest reasons is that people are now busier than ever (wasn't technology supposed to give us MORE free time?), and most families have 2 income earners. Couple that with most adults being gone during the day and people spending more time on the internet and TV than ever, and you can see how this may be a daunting task. If that weren't enough Americans sense more "stranger danger" than in previous times,perhaps attributed to the media and all the ways they can now reach their viewers, whether times are actually worse or not.

While most people do want to live anonymously, having little contact from neighbors, most do indeed find life more pleasant in an environment where they know and get along with others. There is a fundamental human need to fit in where we dwell and share a common humanity.

Here are your pointers:

Visit the area several times a day and on weekends and weekdays

Look for patterns of activity. Observe whether people are interacting or staying inside their homes all the time.

Consider a new build community

Residents here can be very approachable. In general many who move to new areas are highly motivated to build lasting friendships with neighbors who also have kids. Everyone is looking to bond because they are all at the same starting point. There is no crowd or established relationships with which to break into.

Friendship is a 2-way street

It's give and take. You can borrow eggs, perhaps find someone to watch your home while you are away on vacation, and get help in an emergency. Keep in mind you have to give back. The best relationships are 2 sided, so thank that neighbor by having them over for dinner, or something they would consider nice.

Look for strong public schools

A strong public school system provides opportunities for its students. Not only that but it can draw people together, whether they have kids or not, which tightens the bonds of the residents. Mark Nash, real estate broker and author of "1001 Tips for Buying and Selling a Home" says "Strong schools are the epicenters of a strong community . Children of all ages bring people together"

What about age-restricted communities?

If you are 55+ you might be considering this option. In the east valley of Phoenix metro we have a few age-restricted communities in east Mesa, Sun Lakes/Chandler, and Ahwatukee. This age group looking into these options in with the hopes of finding the sort of social activities that will fill their retirement calendar. The ironic byproduct of some who go this route find quite the opposite: boredom.

In an area where everyone is the same age and the group is too homogeneous, often times residents have to go outside the community for stimulation.

For more information about homes for sale http://mc.searcharizonarealestate.com

Author Matthew Coates, West USA Realty Revelation
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Review of Pirates of Penzance, performed at Grand Canyon University

2010-09-05T08:11:00.000-07:00

After a 4 year theatrical hiatus, the Grand Canyon University (GCU) arts department is back in full swing.

Claude Pensis has put together a wonderfully magical experience for his audience with Pirates of Penzance, assembling an all-star cast to boot, including several high-caliber alumni.

The show seemingly came out of nowhere and buzz about it has been resonating through the Phoenix area. In all fairness GCU is also my alma mater, so I had to go in with an objective approach as this review could get me in hot water with several friends who graduated with me. Nonetheless I became lost in the music and swept away with the dynamic performances of the lead actors and ensemble.

The show is about Frederic (Trevor Roberts), a handsome young pirate who was taken in as a young boy and now on his 21st birthday is able to break that chain and lead his own life. Tutored in the pirate ways by The Pirate King (Scott Campbell) and raised by the pirate wench Ruth (Joan M. Colson), Frederick decides to dedicate himself to annihilation of the very crew that brought him up. Before Ruth preys on Frederic's naivety having never seen another woman and leads him to believe she is truly beautiful. Moments pass and the daughters of a Major General (Michael Kary) scurry on the island where the show is set to frolic. Frederic wins the affections of young Mabel (Amy Runte-Wyatt) and vows to marry her. He employs the services of a group of policemen (Sergeant of Police played by Mitchell Lee Wyatt) Unbeknownst to him Frederic is a leap-year baby and in reality has only had 5 birthdays, therefore he feels he must uphold the pirate ways and denounce Mabel and her father. The pirates yield to the police men "in Queen Victoria's name" and the story ends happily ever after, with Frederic not expected to define his life on a technicality.

Incredible talent displayed by Trevor Roberts/Frederic as he woos the audience with his clear and innocent voice - just as the character necessitates. The youngest lead even holds his own next to the more seasoned GCU alums.

Scott Campbell/The Pirate King returns to the scene with a confident swagger, and embodied what a lovably arrogant leader should be. Being very articulate and full of diverse facial expressions, it was hard to take your eyes off him.

Joan C. Colson/Ruth held her ground on stage, although she didn't stand out as much when the rest of the cast was present. A very strong performance, just needed a little more oomph for me.

Amy Runte-Wyatt/Mabel ran away with the show. If ever a performer embodied this character is would be her. She blew the audience away with her opening number and sustained that feeling until the finale. The talent and hard work from Amy shone through and I've no doubt that she was the brightest star in the entire production. She captured you with her high strata notes and warmth of character.

Michael Kary/Major General returns to this role after having performed it at Canyon in 1998. Michael knows how to control a stage without overpowering it. His comic timing couldn't be better, and there has been tremendous growth in him as an actor since I last saw his work. Michael was incredibly comfortable and aware on stage, and the audience was mesmerized by how he had developed the character.

Last major player which was quite a pleasant surprise to watch was Mitchell Lee Wyattas the Sergeant of Police. Wow the energy on this guy was incredible, and not only was he limber, but his baritone-bass voice projected strong and was a pleasure on the ears.

Notable supporting performances by Paul Townsend and Natalie Shuler.

The only slight negative would be the set design. Very simplistic and basic, and very so-so, but perhaps that was the intent to take the focus off the set and onto the characters.

Pensis opted for a single piano vs. orchestra, which I felt was a great movie as the show went on, keeping the concept of simple, and putting the vocal talents to work.

Last night's performance completely sold out, which in talking to the actors, would never have happened 6 years ago. Well, that's what happens when there is demand for incredible arts performances, and when actors with great reputations return to the scene of the crime.

If you can make today's final performance/matinee you owe it to yourself to do so http://gcu.edu

I look forward to GCU's future opportunities and unhesitatingly give the production 9/10 stars

Sweeties Candy comes to Chandler, AZ

2010-09-04T16:06:00.001-07:00

We finally have a full-fledged standalone candy store in Chandler.

It's called Sweeties Candy and it is on the Northwest corner of Alma School & Chandler Blvd. I went today and was amazed at the traffic that came through the store. Apparently lots of people in Chandler have a sweet tooth. One family in the line in front of me rang up a generous tab of $72.

It feels like a candy warehouse, where just about any candy you can think of is present. You can also be transformed back to your childhood days by finding such finds as Big League Chew, Sugar Babies, Jelly Bellies, Willy Wonka, Lemonheads, Neccos, Charleston Chew, Pez, and on and on.

Pricing is certainly reasonable and I am sure they will cleanup for Halloween, but the bigger discounts are in the bulk purchases, similar to a Costco or Sam's Club concept.

one interesting find - a 5 pound Hershey bar for $40!

I've no doubt kids of Chandler will be singing the tune of the new candy man in town, Sweeties Candy of Arizona

visit them at http://sweetiescandyaz.com
for more pictures of Sweeties and more information about Chandler, AZ please go to http://facebook.com/chandleraz1

Review of Noises Off performed by Phoenix Theatre

2010-09-04T07:40:00.000-07:00

Where do I begin with this one? It was an evening of high energy, dynamic performances, and unbridled hilarity.

The cast was "on" the entire show, giving us 3 acts of their best work, and it showed.

The show is about a play in various stages of development just before opening night. The first act shows us their final dress rehearsal - a farce in and of itself. Nobody seems to know what's going on. Act 2 takes us backstage at a production where we get to see the drama with the players up close and personal, and act 3 is live at an actual production.

The plot revolves around a couple of love triangles, one where 2 men are after one of the female leads and the other 2 women beckon for the affections of the director -nothing like a good show fling!

The only thing negative I'll say is the 1st act seemed long as we built up to the intermission, but I believe it was supposed to go that way as the groundwork is laid for how involved in the backstage drama the players get and why they inevitably sabotage each other's performances during the rest of the show.

Dottie is delightful, Garry is gregarious. Flavia was over-the-top and knew everyone's business, trying to solve everyone's problems, Selsdon was just plain funny, and Vicki charmed and livened the crowded portraying the ditzy blonde with comical body language and gestures to go with her lines, and played a horribly bad actress well. The magic was in their interaction and was effortless.

The small theatre adds to the fun, as everyone in the audience felt right in there with the show.

9/10 stars Show runs through 9/19 http://phoenixtheatre.com

Clemente Ranch in Chandler, AZ

2010-09-02T17:27:00.000-07:00

The Tillman Story movie review

2010-09-01T21:41:00.000-07:00

This movie seems to have come out of nowhere. I think I barely heard the movie had been made maybe a week ago.

Some of the friends I went with actually knew not only Pat Tillman but the high-ranking military personnel featured and filmed in the movie.

Let's start with the movie's theme: the military deceived the American public into believing Pat Tillman was killed by enemy fire. The movie was very convincing pointing out how there was a cover up that demands an answer of he was indeed killed by friendly fire. Towards the end of the movie the top military personnel on our country cannot recall exactly when they heard about the death of this high-profile figure and don't recall receiving any special "P4" announcement/faxes, which are highly classified and confidential documents.

His life story was desensitized, and we got to see the real Pat Tillman, not the American war hero, but the everyday guy, someone just like you and me that likes to have a good time and spend time with family.

But Pat made a decision to make an impact with his life. He left the cushy high paying NFL job to do something he felt destined to do. Whether you or I agree with his motivation is really not for us to decide, rather, let's admire the example he set to break out of the complacency that has stunted so many people in this country and realize that in your own environment you can make an impact.

Very moving to watch the interviews with his wife, mom,dad, and younger brother. These people are real, demanded answers, and didn't get them. So now they have to move on, knowing that the military has deceived the American public into making Tillman's death a political propaganda. This is just immoral, especially from an organization where it's best to protect yourself.

Great quote of the movie "Politics is theatrical wrestling"

I give it 8/10 stars

I'm thinking about buying my first home - can you share some tips?

2010-09-01T13:52:00.000-07:00

Sure Mr. First-Time Homebuyer, I'd be glad to. I'm a realtor that helps first-time homebuyers find homes for sale in Chandler, AZ and I would like to share 3 brief point to consider once you have made the decision to stop renting.

1. If you plan on having kids make sure the neighborhood has good public schools.

With the abundance of resources on the internet this task has become easier to do than ever. Most schools freely disseminate test results on their websites nowadays. Once resource http://schoolmatch.com gives you more information about the quality of the schools in a neighborhood you have targeted in report form. There is a fee associated here.

The best info though comes from word-of-mouth sources, talking to neighbors in the area, asking friends that have heard of the schools. Even polling your friends on such sites as http://facebook.com can produce wonderful opinions.

2. Select your 1st home carefully

Buyers are often short-sighted when viewing homes. If within your income limitation select a home that can accommodate a growing family, perhaps housing small children all the way up to teenagers. But don't break the bank. The last thing you want is to be house poor.

3. Pick a home that would be easy to sell when you are on the flip side.

Young families want a home large enough to house small children, usually 1400 square feet and up, with at least 3 bedrooms. 2 bedroom homes are painfully difficult to sell, as the market for them is very limited.

For more information about Chandler homes for sale please visit http://mc.searcharizonarealestate.com

Matthew Coates 602.332.3321

Want to Speed Up That Mortgage Loan Approval?

2010-08-25T09:16:00.000-07:00

Are you a would-be homeowner/buyer? In today's lending environment it's no small feat to qualify for a mortgage. With borrowers feeling like they just gave up their first-born or had blood drawn, frustrations are at an all time high. The good news is that you can go into the situation fully prepared!

Of course Fannie Mae and Freddie Mac are currently overcompensating for the loose credit standards we saw in 2004-2007. As a realtor in Chandler, AZ I see the frustration buyers experience, and have designed the following pointers:

1. Respond quickly when your mortgage lender requests something from you.

Ideal loan applicants arrive with all the primary documents they will need, pay stubs, W-2's, bank statements, etc. It is always a good idea to view your credit report prior to meeting your lender. You can get one FREE credit report a year by visiting http://annualcreditreport.com.

2. Learn mortgage basics

Many borrowers, specifically first-time homebuyers lack a basic knowledge of mortgage terms and how they are affected by them. With Google and the internet it's easier than ever to get a rundown of the mortgage process and understanding of basic terms. Among others, one good site is http://hud.gov.

3. Set up a face-to-face meeting with your mortgage lender/broker

Over the phone initially is fine, but there is so much detail and information for the lender to convey that it just doesn't do them justice to cover on a 30 minute phone call or lengthy email. Plus the loan officer is more likely to give you higher priority if he/she meets you in person.

Do you have a special situation? Then meeting is almost mandatory. Special scenarios include self-employed, credit scores around 640 and lower, limited savings, etc.

4. Stay in touch with your lender

All the way until you fund and record on your home. Buyers are facing more questions than ever with underwriters and it's critical to answer them quickly to close on time. This is especially important if you credit or income changes during the escrow process, or a temporary credit flaw.

Curious about homes for sale in Phoenix, AZ?

http://mc.searchrarizonarealestate.com
matthew@westusa.com
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Movie review: Going the Distance

2010-08-23T21:35:00.000-07:00

Was fortunate to catch the Arizona premiere of this movie tonight.

Went in with high expectations. I've admired Drew Barrymore ever since I had a crush on her in E.T. , and although she has never done any films I would say were incredible, I am always optimistic as she is a very talented actress.

So the plot line of boy meets girl haphazardly is incorporated of course, in traditional Hollywood flavor. They try and make a long distance relationship work, which of course is almost impossible, as one must "give up their dreams" to be with the other.

Cute premise that gets lost in relationships that take away from the main plot line, including the male lead's best friend who is just a disgusting individual on so many levels, but at times he could actually be mildly funny.

The character played by Christina Applegate was the film's best performance. She played the concerned sister of Drew Barrymore, and was incredibly humorous, believable, and convincing.

There were some nice warm fuzzy moments, but mostly interrupted by strong sexual scenes (at one point the 2 main characters had sex on a kitchen table, one of the high points of the preview), vile humor about semen, bathroom habits, etc

Barely watchable movie that was cute and nice concept, but definitely didn't "go the distance" for me.

6/10 stars

For investors there's gold in them thar hills!

2010-08-23T08:15:00.000-07:00

Phoenix abounds with foreclosure properties. And although there aren't as many for sale as their used to be, deals are to be had for the investor market.

With a shortage of rentals on the market (yes you heard me), investors in the buy and hold game can do quite well. After all , all these folks who are short selling and losing their home to foreclosure have to live somewhere right?

It's been rumored that approximately 50,000 home clog Maricopa County's foreclosure pipeline and more enter just as they come out the other end.

I am a realtor in Phoenix, Arizona and I see quite a bit in the area of investor activity right now. In fact they account for approximately 25-30% of all home purchases.

Everyone today is looking for that "great deal" and investors have to be, and can be, more particular than they've ever been when choosing a great rental.

What are some factors to consider?

Location is always key, but I'm finding that it's not that difficult to rent out homes in outlying areas, like Surprise or Queen Creek. Of course closer in rental homes are commanding higher rental rates, but they also cost more.

Rental rates: rents have actually gone up over the last 6 months, as supply cannot keep up with demand. With the difficulty in obtaining financing most people are just opting the rental route until their credit comes back or they save enough cash for a down payment. Investors almost always want their investment to positive cash flow, whici is of course one of the main reasons they purchase it.

Type of home: investors are steering away from condos and townhomes and toward single-family dwellings. Why? Couple of main reassons, one being is lower HOA fees on houses, making the investment easier to cash flow, and 2, all things being equal the average person would rather live in a house. They like the privacy, having a yard, and not being on top of their neighbors hearing everything through the walls.

Size/bedrooms : investors avoid 1- an 2-bedroom homes like the plague, unless the property is a screaming deal. The average tenant wants 3 berooms; one master for them, one they can use as a "computer room/den/office", and one for the kids or guest.

Purchase price: Popular price range to buy is under $150,000: this is actually the fastest moving price range in the valley right now. Even more popular - under $100k. Those homes can't stay on the market long enough and are commanding multiple offers, yes, even in this market.

Repairs needed: Major consideration here - does the home need to be gutted? It better be priced incredibly well. For the most part the average home needs paint, carpet, and some minor touch-ups / repairs, maybe in the $5000-7000 range. Investors do not have to fix up a home for a tenant like they would if they were flipping. It's a different mentality. With tenants practically fighting over limited inventory in most chases they can look over the fact that the home has laminate countertops vs. granite.

Pool: With potential liability issues, I am finding more investors than not avoiding homes with pools. Consult your attorney in this area.

# of stories: While most tenants prefer one story I've found that the average investor isn't that particular whether it's one or two-story, and they are both fairly easy to rent out.

Schools: While schools seem to be important to anyone with kids it appears that tenants are not demanding certain schools districts. My guess is that they see the home as a temporary situation and one day they'll be able to buy in their preferred school district.

Age of home: People want newer and with garages, not carports (after all we're in Arizona right ! ). Ideally built last 10-15 years. I can't remember the last time a tenant said "I want a 50-yr old house".

If you are an investor looking for homes for sale in Phoenix you may search the MLS at http://mc.searcharizonarealestate.com or ask me about properties not available to the general public.

Matthew Coates
602.332.3321
FB http://facebook.com/matthewcoates1
Twitter http://twitter.com/realtormatthew

Movie review: Scott Pilgrim vs. The World

2010-08-21T22:40:00.000-07:00

"This is a real estate blog, why are you reviewing movies!?" Great question. Because I want you to get to know me as a person, my hopes, aspirations, dreams, preferences, etc so you can feel comfortable with me as your real estate consultant for life. As important as it is for you to find the right home, I've found it to be equally important to choose the right person to help you find that home.

I appreciate your listening ears...

Scott Pilgrim Vs. The World

9/10 stars

What a FUN movie with quirky characters set against a video game backdrop, and I'm not ever a gamer. Laughed a ton!

This is going to be a very overlooked movie, opening the same weekend as The Expendibles, which I am definitely not seeing.

What a refreshing storyline filled with originality and characters you care about , get behind, cheer on, and laugh with/at.

Main character Scott falls in love with a girl he probably shouldn't and spends the duration of the movie dealing with her 7 ex-boyfriends. What a riot these scenes are! They go over the top in a visually appealing style that fascinates the eyes. Similar to the fight sequences of Kung-Fu hustle with quirkiness of Juno and an outcast gorgeous leading lady much like that in Eternal Sunshine of the Spotless Mind, and writing on the screen narration of Zombieland. LOVED the script!

Thank you so much for providing excellent enterainment, I look forward to seeing this again in the theater and purchasing on DVD when released

The Islands, Gilbert, Arizona 4 bedroom 3 bath home

2010-08-20T09:19:00.000-07:00

The Islands is one of the most well-known subdivisions in all of Gilbert, Arizona. It is a master-planned community and has been long-known for its bountiful recreational options that it extends to its residents such as, fishing, boating, and other lakeside activities.

This is a beautiful 4 bedroom 3 bath home in The Islands of Gilbert, Arizona that is 2673 square feet. Do you have children? Gilbert has one of the best schools in Gilbert, Arizona. Does your husband like storage? He'll love the incredible 2 car garage. There is also a BASEMENT, which you almost never find. Travertine and granite abound throughout the kitchen and bathrooms, and flooring! Completely renovated home includes a wet bar for entertaining, new carpet, fresh paint, and oh so much more

Money magazine recently rated Gilbert, Arizona as one of the best cities to live in in America (top 100)

video tour: http://www.youtube.com/watch?v=Htg4GJPxHQc

Come see it before it's gone! Priced at $299,900 and ready to sell

Phoenix home prices - sliding, AGAIN?

2010-08-18T09:33:00.000-07:00

As if the news weren't depressing enough, but you know me always putting a positive slant on everything, coupled with a healthy dose of reality.

So ok, most home prices are falling again, and new data supports that this will continue, creating a potential "double dip".

I don't see the median price dropping below the $119,000 we had in April '09. Currently we are about $130-35k. The reason is because the demand for "starter homes" has for the most part bottomed out, and there is a good amount of demand for these homes still.

Starter homes are what 1st time homebuyers and investors tend to purchase, making up approximately 70% of valley home sales

What's interesting is that although school has started again, slowing most "trade-up" sales, the starter home market is quite active. As of late I have been hearing of several investors and engaged-to-be-married couples househunting, which is a very healthy sign.

First-time homebuyers are not as subject to bad credit or loss of employment as others, making them prime candidates to buy and capitalize in this market.

Investors recognize the market bottom and are truly cleaning up.

Yes, it's true that inventory has been increasing, and if the underwriters lax the guidelines a bit than more people can qualify.

Short sales are abundant and more are closing now than ever.

We will see what my crystal ball holds for the future...

Curious about home prices?

http://mc.searcharizonarealestate.com

Phoenix / Scottsdale / Chandler homes for sale

first-time homebuyer

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I Can't Afford My Mortgage Payment Anymore - What Should I Do?

2010-08-17T10:38:00.000-07:00

This question is facing many valley homeowners these days. People got into payments that just couldn't afford back in the hay day peak of the market 2004-2007. Even though who were financially secure got in over their heads, and that group is starting to surface.

So what to do? You've come to the right place friends.

Let me start by saying I am not instructing you what to do nor providing legal advice. Whatever you decide you need to discuss with a trusted attorney and/or CPA.

For the majority of us the mortgage payment will be our largest obligation, so it requires some attention. Lower home values (some approaching loss of 60% plus) and lower incomes mean we can no longer do the same things we used to. Couple that with unemployment around 9% and no end in sight for foreclosures and it seems gloom at best.

Bankruptcy is certainly one option, but may not be the best option if they only debt you have is a mortgage.

Perhaps refinancing, although challenging, may be an option.

Loan modifications - lots of homeowners going through this, few succeeding. Let's just leave it at that.

Foreclosure/ do nothing - certainly an option, but you may be looking at 250 plus point drop in your FICO credit score, 5-7 yrs until you buy another home , and a potential tax liability (yes,even if you foreclose friends).

Short sale - this is where I'll spend alot of time. Becoming increasingly popular these days.

What is a short sale?

A short sale is selling your property for less that what is owned on the mortgage. The lender has to agree to take a loss. Short sales can take a long time (3-12 months, maybe longer), but are usually worth the effort on the homeowner's behalf if he is willing to be patient.

Doing a short sale is like quailfying for a mortgage loan, but in reverse. You have to provde hardship, or why your situation has worsened, along with tax returns, pay stubs, bank statements, hardship letter, etc.

Keep in mind short sales involve legalities that go beyond my expertie in real estate and you need to be fully informed of the consequences for doing one.

Concerns about short sales:

- will I owe taxes on the amount shorted?
A: it depends. don't you love this answer? if it is your primary residence most likely (but not always) you should be off the hook for taxes on that amount. However, if you have a Home Equity Line of Credit (HELOC) or 2nd mortgage you may be in for a surprise.

- what happens to the deficiency balance (amount "shorted" on the mortgage")?

A. The lender may pursue you for it. Arizona has one of the most forgivable anti-deficiency laws in the nation. However, if you "Strategic default", meaning walk away from the mortgage and you have no hardship to speak of, they are going to be more likely to pursue you.

I now point to my lawyer friends who can advise you from here.

There's no doubt you will receive a form 1099-C from the IRS for the deficiency, but you may or may not be liable for taxes on those "earnings".

In 2007 Congress passed The Mortgage Foregivenss Debt Relief Act, which favors borrowers.

Short sales have become an acceptable solution for a growing problem. Although the process is straight forward, banks are incredibly slow in processing them. Contact your favorite real estate agent today to learn more.

Home for sale - Phoenix/ Chandler / Scottsdale, Arizona
http://mc.searcharizonarealestate.com

In Phoenix, housing becomes most affordable for first-time homebuyers

2010-08-16T15:07:00.000-07:00

The housing slump has proved to yield fantastic values for those looking to enter in the housing market. Lower prices are driving higher number of sales and renters are certainly capitalizing when possible.

First-time buyers actually represent the highest percentage of buyers on the market today in the Phoenix metro area.

According to Jay Butler, director of realty studies at Arizona State University, people can now buy new homes in Chandler and Gilbert for half of what the cost during the boom.

Couple that with monthly payment that rival what they are paying the landlord and significant tax breaks and it's understandable why now is the time to act. First-time buyers are not generally susceptible to the unemployment and challenging credit prevalent in most of the valley.

The average price of a home being sold is around $140,000, compared to $260,000 at the peak.

Curious about homes for sale in the Phoenix area?

http://mc.searcharizonarealestate.com

Why's it so hard to get a mortgage loan?

2010-08-14T11:44:00.001-07:00

Well, it seems decision makers are overcompensating for the "no brainer" loans given out in 2004-2007 by swinging the pendulum the other way completeted. In days past you tell the lender you make $100k/yr and by golly, that's good enough for me! Today it's name/rank/serial number, have your baby's blood drawn, asking you 10,000 questions about solid verification items.

What is going on?

Underwriters think what they are NOW doing is going to stop the foreclosure mess our nation and especially our state (Arizona) is in. Not true!!

Why are we TIGHTENING credit standards and causing the # of buyers who have the ability to purchase to SHRINK? Doy! Shouldn't we be doing the opposite! Intelligence would tell us yet, but remember we are dealing with large impersonal financial institutions here, so apparently we are playing by their rules. Happy happy joy joy.

Loosening the credit standards (not to what they were before obviously will allow a new set up buyers to start taking this foreclosures and short sales off the market.

Someone tell me if I'm just smoking dope.

Matthew Coates
http://mc.searcharizonarealestate.com

Homeowners: considering a move in the near future?

2010-08-12T11:19:00.000-07:00

Knowing the current value of your home will help you determine which way to go and how much you'll have to work with on your next purchase. Homes that are priced correctly sell faster, and that is just a fact, regardless of what sellers "think" their home is worth.

Here are factors to consider:

1. How old is the home?

Brand new or more than 10 years? Wear and tear brings down the value

2. Recent home sales in your area

Big one, largest indicator of value. Find homes that match your square footage, amenitites, location, etc, and consult your favorite realtor

3. Recent home improvements Done any renovations? improvements? additions? Anything that can add value may influence pricing

4. Location of the home. Closer it to city = higher price , further away = lower, that is the simple formula What are the schools like? Gated subdivision?

To search home for sale in the Phoenix metro area http://mc.searcharizonarealestate.com

Phoenix AZ Real Estate Update

2010-08-02T05:34:00.000-07:00

Hi folks, it's that time again where we play "What's the Phoneix, AZ market doing now?'

No doubt sales have fallen since the tax credit expired, thur creating a much-needed temporary band-aid for our market as a whole.

I hear rumors of banks releasing more inventory, one REO agent i know who's client is Fannie Mae said she is putting 16 new listings on in mid-August, and she is a one-woman operation/ not a huge team to farm listings to, so we'll see.

This "shadow inventory" we keep hearing about: talked to a big valley REO agent who indicated that banks are not "withholding" to drive up prices, rather they have a pipeline with properties in different stages, as REOs/foreclosed homes typically don't get listed immediately. REO as a percentage of sales are definitely down.

Short sales are up and represent 28% of sales vs 21% in just the prior month. I am seeing short sales take longer to complete however and buyers on a timeframe may want to avoid altogether.

Seller with regulary sales need to price in current market, not be delusional with prices even 3-6 months ago. Too many "normal" sellers are asking far too much for their homes.

Buyers that can actually qualify for a loan are in control right now. With sales down and a decent amount of inventory (not tons, we are looking at 35,000 listings vs almost 60,000 about 18 months ago), buyers are setting the tone.

about 40% of sales are first-time buyer and 30% investor. deals are to be had. investors also cleaning up at trustee's sales in DT Phoenix area.

What do i see in the next month of so? slight downturn in starter homes/barely noticeable, as we have pretty much scratched bottom in this price range (under $150k)

Phoenix/ Chandler / Scottsdale homes for sale
http://mc.searcharizonarealestate.com

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Modified Sellers' Market

2010-06-30T02:39:00.001-07:00

Modified seller's market - what is that?

We are short inventory, regular/normal market 6-8 month supply , and instead we have about 4. What makes it unusual is we have 45,000 homes looming out there owned by banks that aren't for sale but could be for sale at any moment.

It's summertimes to lots of people are buying/moving (assuming they can qualify for a mortgage, which is very fun). We are experiencing a record number of sales (about 7000-8000 units per month).

Lots of short sales out there taking forever to close (generally) and not many REOs on the market anymore.

We'll see price increases through the summer and then an up and down pricing trend for about 6-9 months after that, with overall sales coolling off in the wintertime as we head towards Christmas.

Matthew Coates, real estate agent 602-332-3321
Chandler homes for sale
http://mc.searcharizonarealestate.com

Shadow Inventory & Free Movie Passes

2010-06-23T09:23:00.000-07:00

"Shadow inventory" - a newer term to the real estate market, continues to increase. Shadow inventory is homes owned by banks (Wells Fargo, FannieMae, etc) that have not yet been placed for sale with a realtor. It has been reported that Bank of America has 1,000,000 homes in their inventory nationwide. Fortunately the time to clear about the supposed 45,000 homes in Arizona is the lowest of all states at 18 months. Currently we are experiencing a modified form of a seller's (yes you heard it right) market: based on sales we have around a 4-month supply vs. 6-8 in a "normal" market
Average sales price year-over-year UP: $138,500 vs. $122,000 (May '10 vs. May '09)
Banks are taking fewer homes back from owners (many postponements and cancellations at trustee's sale), preferring to work via short sale and loan modification, although loan modifications in general are not working well.
The question is: when will these homes go on the market and what impact will it have on prices?
Answer: don't know when (only God knows), whether it will be all at once (not likely) or in waves. Based on material I've combed through we will have price increases throughout the summer and once fall hits values will be bouncing up and down.
** Incentive ** - through July 31st introduce me to someone considering selling their home and receive 2 free movie passes. Referral must be willing to set an appointment to go over market analysis of their home

HUD temporarily waives 90 day flipping rule

2010-01-19T12:39:00.000-08:00

On Friday Jan 15th 2010, HUD announced that they
would temporarily waive the 90 day seasoning rule for
FHA buyers.This is the link to the waiver from the HUD
website.
http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf
The waiver goes in to effect on February 1, 2010 for
one year.The 90 day seasoning rule had prevented a buyer
from purchasing a home with an FHA loan if the seller had not
owned the property for at least 90 days prior to
the buyer's purchase contract being executed.

Phoenix Market Update

2009-11-29T12:15:00.000-08:00

Fannie Mae is My Landlord?

2009-11-16T10:22:00.000-08:00

Phoenix – Well when you think they have thought of everything, Fannie is now in the Landlord business. However, it does help the struggling homeowners from becoming homeless which is a good thing.

So what does this all mean?

Fannie Mae announced Thursday that it will allow troubled homeowners to lease their homes versus losing them through foreclosure and eviction.

The new program is directed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and do not qualify for a loan modification, however who are able to afford the rent.

The program is designed so that borrowers transfer their property deed to Fannie, this is also known as a deed-in-lieu of foreclosure. A deed-in-lieu will adversely affect a borrower’s credit score, but it isn’t as damaging as a straight-up foreclosure, even though the end result is the same which is that “Fannie gets back the property”.

In the new “Deed for Lease” program, borrowers will need to:

Qualify for a deed-in-lieu under Fannie’s current guidelines;
Demonstrate that they have enough income to pay a market rent, they’ll be required to sign a lease for up to 12 months.

Here’s a few question and answers about the program:

How do I know if Fannie owns or guarantees my loan?

Fannie Mae has a loan look-up Web site that lets borrowers see whether their loan is held or backed by Fannie, and therefore eligible for the program. Mortgages backed by the FHA and other government agencies don’t qualify.

Can homeowners qualify for the program if they’re current on the mortgage?

No. The program is open only to borrowers who have missed a payment and who therefore can show that they can’t afford their current mortgage payments. A borrower’s mortgage servicer must also show that the borrower isn’t eligible for a loan modification. Potential tenants have to demonstrate that market rent wouldn’t exceed 31% of their monthly gross income, and borrowers who are 12 or more payments past due on their mortgage aren’t eligible.

Could borrowers-turned-tenants buy their home back when the lease expires?

Unlikely. Fannie says that at the end of the initial lease term, they may choose to extend the lease or “offer for sale to any qualified home buyer.” Most borrowers who have recently missed mortgage payments and executed a deed-in-lieu probably won’t have strong enough credit or enough cash to be able to buy a home.

Can borrowers intentionally default in order to be eligible for the lease program?

Again, it’s unlikely. Fannie says that “borrowers would not qualify for a deed-in-lieu, and therefore not qualify for a deed for lease, if it is determined that they can afford their current mortgage payments.”

Are there any other restrictions?

Second lien mortgages aren’t eligible, and any subordinate liens secured against the borrower must be released. Borrowers can’t be involved in an active bankruptcy proceeding and aren’t parties to any litigation on the property or the loan. Properties also couldn’t be rented if rented homes would violate zoning or homeowners’ association rules.

Who will manage the properties?

Fannie Mae has contracted with a national property management company to handle maintenance and property management. Here’s a full list of rules and regulations, Fannie’s FAQ, and a page that includes borrower instructions for the program.

Less Foreclosure Notices Filed in October

2009-11-12T08:40:00.000-08:00

October showed the third straight monthly decline in the number of foreclosure noticed filed across the valley. The decline is attributed to foreclosure-prevention programs - banks are starting to embrace the concept of working with the homeowner to come up with viable alternatives to foreclosure.

It also has appeared that Arizona has fallen to 4th place in foreclosure filings, trailing Nevada, California, and Florida,

Still, foreclosures remain near record highs and the mortgage industry is still struggling to manage the onslaught. The government has had to push many lenders to participate in the Obama administration's loan-modification plan

Update on Homebuyer Tax Credit

2009-11-04T15:07:00.001-08:00

While nothing has been finalized quite yet, I want to make sure to keep you posted on the latest and greatest with the tax credit extension/expansion. As of this morning, the House of Representatives has approved legislation that would extend AND expand the credit. The House vote comes after the Senate voted yes on Monday night and while there is more work to be done, word on the street is that an agreed upon bill should reach the President for his signature by the end of this week. Here’s what has been agreed upon so far:

Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension would cover homes under contract by April 30th and closed by June 30th, 2010. The tax credit would also be expanded to non-first time homebuyers as well. There are a few tweaks for these folks though; the tax credit would be reduced to $6,500 from $8,000 AND they must have owned a home for at least five of the past eight years.

Please remember, this is NOT final and even if it is approved, changes could still be made at the last minute. As soon as the final bill has been approved and signed off on, we will be sure to inform you of all the details.

7 Reasons to Own Your Home

2009-10-30T08:30:00.000-07:00

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

How to Make Your Home Appealing to Buyers

2009-10-27T12:52:00.000-07:00

What to Look For When Purchasing a Short Sale or Foreclosure Home

2009-10-23T10:30:00.000-07:00

Short sales and foreclosures - seems to be all we hear about nowadays. And as popular as they are there are some areas you may want to look for when you go to purchase:

1. area/neighborhood - are there alot of rentals in the immediate neighborhood? if so this may indicate a declining area. drive around and get a good "gut feel" for the neighborhood where you will be living. Do people take care of their front yards? Are there many cars parked on the street?

2. schools - be sure to research the school systems if you have children or plan to. Buyers today are very conscious about the quality of the schools their children are attending

3. demographics - what income levels are the residents in the area? what race breakdown? ages? education levels, etc. Finding out this information may help you find an area you feel comfortable moving to. Often times if looking in a particular city the local chamber of commerce is able to produce this information.

4. the home itself - what kinds of repairs are needed? Do you have enough funds to cover them? If not and you are going to live in the home consider an FHA 203(k) loan option to finance the repairs. Are the repairs cosmetic (holes in the walls, worn carpet, broken windows, dated kitchen) or structural (roof or a/c needs to be replaced or foundation issues/cracks, etc)

5. home location - does it back/side/front a busy street? This could affect the resale value, as homes with these types of locations are less desirable due to traffic noise and potential safety hazard if children are around.

6. short sale? if the home is a short sale where is it at in the process,and when does the listing agent expect it to reasonably close? are there 1 or 2 mortgages on the property? Although in today's market banks are moving along at a faster rate than before, to wait 90-120 days to close on a short sale is not totally uncommon.

7 other offers - with the shortage of active inventory on the market, you are bound to be competing against other buyers, especially if the purchase price is less than $200,000. How good of a job is your agent doing of inquiring about other offers on the home in order to help you get the home into escrow at the lowest possible price?

What's Going on With This Wacky Phoenix market?!

2009-10-17T14:25:00.000-07:00

As I meet people inevitably what they end up asking me is "how's the market?" As I try and get a feel for the person's situation I formulate an appropriate response. But more often than not people seem to be curious and want to be in the know, more than they are thinking about making some kind of move themselves.

Recently Arizona moved to the 2nd highest foreclosure rate in the US, behind Nevada. We still have a long way to get through all of this, as the foreclosure pipeline is quite full (50,000 statewide from what I understand). We had a slight dip in foreclosure notices in September which is good news, but this has happened to us in the past without the lasting trend, so it could go either way.

That being said there "may" be some stabilization coming to the market. Foreclosure notices have been down for the previous 2 months, however there is alot of "pent-up" foreclosure activity - owners sitting in limbo and trying to stretch out there foreclosure date as much as possible, so we have a potential looming inventory issue at hand as well.

This next statement may contradict what I just wrote, but is in fact true. MLS sales are very healthy and we only have about a 4-month inventory of homes. We have averaged about 8,000 sales a month in Maricopa County vs. the 5,000 a month sales we were seeing just 7 and 8 months prior. Prices have increased month-over-month since April.

The bulk of the action is in the under $150k price point (starter homes). Affordability has never been better, and the government has given first-time home buyers all the more reason to step out on faith, to the tune of an $8,000 almost-immediate cash-back incentive (first-time buyer defined as not having owned and lived in a primary residence in the previous 3 years).

There has been much talk about extending and expanding the credit. Recently the credit was expanded for military personnel until November 2010. Whether the credit will indeed be extended past the 11/30/09 deadline remains to be seen, however my opinion is that it will be extended.

Homeowners getting behind on payments are being taken more seriously by their lenders than ever. More and more short sales are going through (and in less time) and loan modifications are becoming the word of the day, with mortgage companies offering more than reasonable restructured payment options to keep the mortgage afloat and paid. Lenders are wising up and realizing it's simply too expensive to foreclose on the home and resell it at a dramatic loss

Home-Appraisal Rules Stire Ire

2009-07-15T07:39:00.000-07:00

Less than three months after new rules for home appraisers kicked in, the real estate industry is in uproar.

Realtors, home builders, mortgage brokers and the appraisal industry itself all agree the rules are causing problems. Some are backing a bill in Congress to kill them.

The new guidelines bar mortgage brokers from ordering appraisals themselves, forcing them to do so through a mortgage lender. Lenders may order appraisals through in-house staff or appraisers hired by outside firms knows as appraisal-management companies. But neither may talk to the appraisers about the value of the property they're evaluating.

Since they went into effect May 1, the rules have created unintended consequences that critics say are causing delays in closing sales, or undermining sales because botched appraisals are coming in too low.

"This thing is not only preventing, it's destroying the housing market," said Marc Savitt, president of the Nation Association of Mortgage Brokers.

After a buyer and seller agree on a price, the buyer applies for a mortgage, The lender orders an appraisal to ensure the value of the property, because if the borrower defaults the property will be sold to satisfy the debt. The appraisal fee is usually paid by the buyer.

To determine what a home is worth, the appraiser compares prices of similar homes that were recently sold in the area and makes adjustments for different features. If the property appraisal comes in below the agreed-upon price, the buyer usually has to make up the difference.

The rules, dubbed the Home Valuation Code of Conduct, are meant to eliminate conflicts of interest that created pressure on real-estate appraisers to inflate the value of a property. Lenders, agents, and brokers have been known to pressure appraisers to "hit the number" that the home buyer and seller agreed on so the deal would close and everyone could collect their fees. Inflated appraisals were partly blamed for fueling the housing bubble.

But under a settlement last year with New York Attorney-General Andrew Cuomo, Fannie Mae, and Freddie Mac agreed only to buy loans from lenders that don't directly hire appraisers. The move sent shockwaves through the industry because Fannie Mae and Freddie Mac own or guarantee about half of the U.S. home loans.

So lenders started giving more business to appraisal-management companies, which critics say draw appraisers from a pool of candidates willing to do the job for less money and who,in some cases, may be unfamiliar with the neighborhood

Written by Alex Veiga of Associated Press, seen in Arizona Republic business section on 7/15/09

The Ever-Increasing Foreclosure Pipeline of 45,000 - Homeowners in Limbo

2009-06-23T07:58:00.000-07:00

Over the last 3 years more homeowners in Phoenix have entered the foreclosure process than have come out of it. Currently the system is backed up with more than 45,000 homeowners who are waiting to be foreclosed on. These pending foreclosures have been growing from just 2,300 in June 2006 to the astonishing number it is at today. Experts predict foreclosures will increase even more before they level off, most likely in the next 12 months.

The reasons for the backlog are heavily argued:

- banks are purposely limiting the flow of foreclosure homes into the market, which prevents further sliding of home prices and would allow the Phoenix market to stabilize sooner

- banks are stalling the foreclosure process because the demand for higher-end homes is very low and selling off assets at sharply reduced prices could cause smaller banks to fail

Banks have been quiet about their strategies for working with pending foreclosures. One thing is for sure, the number of pending foreclosures (properties that have received a default notice because they are 90 days behind and have 90 days left until auction) have increased steadily. Over the last 3 years 73,000 home foreclosures were completed.

Currently numbers indicate we are on track to reach 5,000 foreclosures by the end of June for this month alone, which would be the second-highest month, behind February 09 with 5,240.

Some foreclosures are taking longer that 90 days because borrowers are attempting to work out a loan modification or short sale with the lender. Short sales have increased over the last year but are still only less than 5% of home sales.

One theory of lenders stalling the process is that they are waiting for the bailout funds. The pipeline is a sort of warehousing of properties until it would be helpful to bring them onto the resale market. Dumping 45,000 homes onto the market at one time would deliver a knock-out punch to a real estate economy which is already struggling.

Loan mod guidelines issued by the Obama administration in March appear to be doing a better job of keeping borrowers out of foreclosure.

More than 1/2 of loan mods negotiated prior to the Treasury Department launching of the $75 million Making Home Affordable program in March were back in default within 6 months.

In May the rate of "re-default" fell by about 12% when homeowners payments were reduced through a loan modification.

One reason for the high volume of foreclosures is job losses. Job recruiters are seeing the job market get worse before it gets better. That and homeowners who are simply walking away from mortgages because they owe more than the home is worth.

Commercial property owners and lenders are preparing for a storm of foreclosures as well. The office and retail markets are expected to be hit hard in the coming months. The value of high-end homes and commercial real estate is still on the decline, which means that waiting may cost lenders more, even though they have no desire to take those properties back.

- Arizona Republic Business section 6/23/09

Homeowners Strip Homes Before Losing to Foreclosure

2009-06-15T09:26:00.000-07:00

A rash of home stripping is starting to happen around the valley, as homeowners are trying to salvage whatever they can to raise money before they lose their homes to the bank. Often the items will appear on Craigslist or at garage sales. The stripping has nothing to do with attempting to reinstate the mortgage, rather giving the owner cash to get a fresh start where ever they may roam.

Commonly removed items are doors, light fixtures, toilets, but some sellers have been know to take the a/c unit, over, and dishwasher, bathtubs, and even a spiral staircase. Homeowners caught in the act may be subject to criminal prosecution, including damage and defrauding a secured creditor. Authorities must be able to prove that is was the homeowner that stripped the home of valuables, and that the person knew it was illegal to do so. If someone in good faith doesn't know than it would be questionable whether or not the person would be charged. Fixtures are a part of the home, and are not supposed to be removed, per the deed of trust signed by the owner at closing.

If you notice a neighbor removing fixtures, report it to the local police. You can also contact the FBI's Mortgage Fraud Task Force at px_cashback@ic.fbi.gov or 602.279.5511

The Phoenix Investor Boom, part 2 - A New Breed

2009-06-13T19:08:00.000-07:00

Investors are definitely back, causing concern that the market is becoming speculative once again. The enticement of great deals for investors, which have been estimated to account for 50-70% of recent purchases, may be hindered by the ability to rent those homes to tenants.

Some long-time investors say they have started seeing a large number of naive, newbie investors with an attitude of sure-win that may have got us into trouble just a few short years back. Some investors are speculating, which could lead to an oversaturated rental market. Although the need for rental properties is still healthy, investors who are expecting huge returns could be in for a rude awakening, particularly if they don't put adequate time and effort into making the home the best it can be. Investing practice solid investment practices, speculators look for big return quickly with minimal effort, something that often will collapse on itself.

The vast foreclosure market has no doubt created the need for more rental properties.

Many investors are now purchasing with cash, lessening the chances of the home going into foreclosure again, and minimum down payments for financing properties are 20-25%, sometimes more. Investors will not be as likely to walk away from a property where so much of their own money is tied up.

Now investors and first-time buyers are clashing over some of the same properties. The competition that is causing frustration for buyers is also keeping prices from falling further, creating a double-edged sword. If there were only starter-home buyers are not investors the market would not have absorbed nearly the inventory as it has, creating what we are now seeing as a more stabilized marketplace.

Investors have fixed up and brought value to many valley homes where otherwise there may have been an abandoned property. Because of the investor presence neighborhoods are recovering.

Foreclosures Likely to Climb Again

2009-06-13T07:01:00.000-07:00

There has been a trend toward fewer foreclosures in the last few months, primarily due to a temporary moratorium imposed by some lenders who were waiting to see if government incentives to modify mortgages for borrowers at risk of foreclosing would have a positive effect.

Most people trying to do loan modifications are not qualifying because they are too far upside down on their loans.

The trend will be to see more foreclosures based on layoffs, bankruptcies, etc., and the downward trend we have been seeing is going to reverse itself.

Despite the fact that more foreclosures will be entering the market, homes sales hit a 12-month high in May at 6.945 properties, up from 4,315 a year earlier.

Phoenix Home Prices Up Last Month Despite Higher Number of Foreclosures

2009-06-03T10:07:00.001-07:00

The median home price rebounded slightly over April. The number of homes sold also increases to 8,690 from 8.156. The median sales price came in at $130,000, representing a 3% increase. The majority of activity is still happening in the lower end of pricing, however, the activity is starting to move up the pricing chain into "move-up" homes as well, homes in the $250,000 plus range.

Another interesting fact, the percentage of home sales that were foreclosed homes DROPPED last month from 68% to 57%. That being said there were still an increase in the number of foreclosed homes in April, 3809 vs 3103 last month.

Notices of trustee's sale, which is a notification that the property is 90 days out from being foreclosed, were down, 8600 vs 9100.

Avoid the Pitfalls of Buying a Home

2009-06-01T09:45:00.000-07:00

With the plethora of great deals that abound on the market today, buyers need to be cautious about certain areas, as buying a home is certainly not for the faint of heart. Here are some tips to avoid the snags:

1. Financing

In today's environment have solid financing in place and/or the cash you will need to close. And, avoid making an offer contingent on the sale of your home - these offers most likely will be rejected. Sellers, for the most part, are not interested in contingencies, especially if the home is priced below market value, and the next offer may just be around the corner for them.

With foreclosures, many banks ask the buyer to prequalify with one of their financial institutions, and in some cases offer special incentives to use that lender (free appraisal, reduced closing costs, etc). It is not a requirement to use their lender to complete the purchase however.

Earnest money deposits, which is the buyer's good faith gesture to show seriousness in a property, are becoming larger and larger, particularly with properties that are drawing multiple offers, for example $5000-10000 earnest money figures are not uncommon. Beware that if you walk away from the home after the inspection period this money is likely to be kept by the seller.

2. Properties in questionable condition

It is amazing what former owners have been known to do to their home before the bank forecloses on it: seeing the home stripped of a/c units, doors, hinges, light fixtures, appliances, baseboards, entire kitchens, and wiring have all been known to happen.

Buyers may find that it is too difficult and/or expensive to put a property back into livable condition. FHA offers a 203k mortgage-loan program that includes money required to fix-up the property. The loan amount includes the repair costs, and the appraisal must come in for the entire amount of the purchase price plus repairs. The buyer must put 3.5% down and the maximum loan amount is $346,250. When appraising the market value including repairs is the number worked towards. The program generally takes longer to complete, but may be a viable option for a buyer who doesn't have money available to do massive renovations.

3. Be patient - competition is fierce

The home you have been pining for is finally on the market, and the price is just too good to be true. Often times, that can be the case. Homes can be priced at unrealistically low prices and bring with it bidding wars. This also takes time and can become very frustrating. This can be the case with bank-owned homes or short sales. With short sales, some are able to obtain quicker responses, but for the most part it is taking weeks or months longer to hear back than a foreclosed home, as the lender, not the seller, has to agree with the offer.

With a short sale a buyer can think he got a great deal, only to have the offer rejected by the lender, regardless of whether the offer was made at the asking price. This can come as a result of other buyers bidding up the once attractive list price of the home. However, if an agent can support the listing price and is familiar with the area and the financial institution, a short sale can be negotiated within a reasonable period of time.

4. Think location

Is the property in a neighborhood where lots of homes are for sale? Will you have a substantial commute to work each day? Be cautious, there could be the areas that will take the longest to recover in terms of value. What buyers are looking for today is a combination of great pricing and a return to basics, i.e. home close to family, jobs, entertainment venues, etc.

Buying a home this summer? Tips on smart shopping

2009-05-30T12:00:00.000-07:00

Many home buyers will be out this summer, after much waited anticipation. They are ready to make the dream of homeownership come true. Combine that with bargain prices and great interest rates and the idea becomes more attractive.

It has been estimated that as much as 2/3 of home buyers in the market are buying for the very first time, which is an unusually high number.

Those less effected by the recession are likely to do better at the mortgage lender's office, especially if their credit scores are high.

1. Get prequalified BEFORE you go looking for your home.

Many realtors are requiring that their clients have a financial conversation with a lender prior to looking at homes, so they know early in the process and have evidence that they are truly eligible. Based on the times we are in the lender will most likely need more information that just how much money you make and how long you've had your job, now it's asking for tax returns, credit reports, and pay stubs.

2. Leave the kids at home

As wonderful as it feels to bring the entire family, this can also throw off buyer's focus, particularly if they have small children, and are trying to keep tabs on the kids at the same time focusing on the features and benefits of each property they are viewing. Bring the kids back after you have found the home that you will be bidding on. In today's market buyers are looking at a fairly large number of homes because you might have to bid on several in order to get one offer accepted. Hauling the kids around to each house can be very tough on them, especially now that temperatures are heating up.

3. Find highly motivated sellers

Although most homes that are selling are priced incredibly well and sold by banks, there are still a good number of "normal" sellers that have to move for some reason or other, and may be willing to take less than asking price for their home. Seller motivation levels are high right now as they struggle to compete with foreclosures, but in many cases carry upgraded that foreclosures do not offer. Look at how long the home has been on the market, and if there have been any recent price reductions.

4. Be particular, but act quickly.

For kids with school schedules, both buyers and sellers prefer to uproot during the summer to be able to settle in for the regular school season. However, if for some reason this is not feasible, don't worry that your kids won't adjust if starting once the semester is underway. Regarding market supply, there is currently a 3 1/2 month inventory on the market. Available listings are dropping quickly - currently in the 35,000 range. So while there are great deals to be had on the market, those deals are getting snatched up quickly and bringing multiple offers with them. If something strikes you, it's best to write an offer quickly - in 2 days it might be gone

First-Time Buyers Becoming a Larger Segment of the Phoenix Real Estate Market

2009-05-27T13:40:00.001-07:00

Some analysts are saying that the upswing in market activity is the result of another speculator's boom. Lately there has been a foreclosure buying frenzy happening across the valley which has come to the attention of other parts of the country. While there's no doubt that investors are finding great bargains out there, especially in older areas of the valley, they are not dominating the market like they did in '04-'06. Last month 19% of home sales were to investors, according to Mike Orr of the Cromford Report, a housing data tracking service that monitors stats of the Phoenix area real estate market. During the boom 35-40% of sales were to investors.

First-timers are the fastest growing group of home buyers right now. It is believed me some that it will represent as much as half of home sales very soon. And remember, first-time buyers have the $8,000 tax credit coming back to them from the government. There are other programs in the works, i.e. Neighborhood Stabilization, etc, that is more geared toward owner-occupant buyers vs. investors.

We are at record home sales levels, and prices are moving up. Median price is $116,500, up from $115,000 at the end of April, representing a 1.3% increase. While it may not sound exciting, a year of this would be over 15% in appreciation.

$/square foot prices for active and pending homes climbed as well, now at $84.86.

The price range for homes under $150,000 are now receiving multiple offers and are now often times sold in a few days rather than weeks or months.

Most investors are now paying cash for homes. It's a different breed, not the speculator type we saw a few years ago that put 0 down and could easily walk away. Investors who finance are having to put down 20-25% minimum to purchase. They aren't likely to walk away from these obligations.

The market is seeing a surge of seasoned, experienced, and conservative investors and savvy first-time buyers - this is a much different market than seen in previous years.

Phoenix Real Estate Market Showing Signs of Recovery

2009-05-13T15:44:00.000-07:00

The smallest decline in valley home prices in over a year happened last month - fell from $127,000 to $125,000. Sales last month nearly doubled over April 2008. Home prices are showing signs of levelling off. These indicators could be that the local housing market has hit bottom.

Existing home sales have been climbing steadily since fall. In the time we are in now sales and median prices tend to increase as buyers move to lock in a purchase before the start of school and holidays, according to Jay Butler, director of realty studies at ASU. Some improvement would not be unexpected.

Foreclosures were less in March and April, more indicators that the market may be showing signs of improvement. The number of homes on the market that are foreclosed property is also shrinking, which helps prices.

More short sales vs. foreclosed homes on the market will help slow foreclosures. And owners are also starting to realize that lenders may work with them, i.e. loan modifications.

How Do I Sell My Home Quickly?

2009-05-09T11:58:00.000-07:00

At a time of economic uncertainty, more and more people are willing to relocate out of state for find themselves gainful employment. These individuals often cannot wait too long for their home to sell, as they will be making 2 payments - one on their current home and one mortgage or rental payment on a new home - financially just not doable for most. There is such a hurry that mistakes cannot be made. Pricing too high and "testing" the market is definitely not a viable strategy for these sellers, as most likely their home will not even be looked at by today's hyper-bargain conscious buyers. And competing against foreclosures, which are accounting for about 80% of all home sales today, there is another potential hurdle to overcome. Pricing below other "normal" homes by 10% or more seems to be the best advice around.

1. Make improvements to the home - buyers just want to move in, they don't want to fix anything or deal with a property that needs work, unless that property is steeply discounted. If you don't have savings and have to borrow money to fix the home and make it presentable, than do so. You money will be more than made up. Try borrowing from friends and family first. You may be able to get a contractor to agree on delayed payment, such as when the home closes so you don't have to come out of pocket. Alot of businesses are struggling right now and are able to come to different terms than in the past.

2. Clean it up - clean and declutter the home, these 2 items could make a substantial difference in buyer perception, and often don't cost anything, other than time involved and elbow grease. By decluttering, remove anything visible that is personal in nature, family photos, etc, as this will deter the buyer visualizing themselves in the home, rather that it is someone else's.

3. Curb appeal - Buyers primarily use realtors to email them possible home listings. Most times buyers will opt to drive by your home before deciding if it's worthwhile to set up a private showing of the home, so make sure eyesores from the front of the home are removed.

First-Time Buyers See Opportunity in the Market

2009-04-26T09:43:00.000-07:00

If you are in the demographic of being in your 20's or 30's, and feel like you want to look into the possibility of owning your first home, despite parents' advice of waiting until the recession is over, you're not alone. This is a large demographic that will be making a purchase this year. Particularly with those who are expecting a child or considering having one, having their own place is sounding more and more appealing.

Several factors have made now an ideal time to buy: low interest rates, incredible home prices, and a tax credit back from the government to boot. There are lots of choices out there, and buyers can be somewhat particular about what they make a move on.

Stable employment is critical for making a home purchase work. If your income is shaky or you have a large amount of credit card debt, now may not be the best time to purchase. Rather than relying on family members for advice, seek out wisdom from competent professionals in the real estate and mortgage industries. Someone you feel you can trust that has your best interests at heart. A lender should educate you about the basics of financing and calculate what you can reasonably pay per month toward a mortgage. Avoid variable interest rate loans.

Schools are becoming a large factor as to where people are moving, and a key predictor on how property values are going to hold up long-term.

Home prices UP!?!

2009-04-22T07:45:00.000-07:00

It sure looks that way. Mike Orr, who tracks home prices daily and publishes the Cromford Report, which tracks many different trends using MLS data. The lowest square foot price he has recorded was April 6th where the price per square foot is $82.20. Since that time that number has been increasing steadily to where this week it reached $83.18.

He indicates that the trend is now sideways to very slightly upwards, rather than very strongly downwards, which is has been for a long time.

While there is always the chance home prices could dip again, pending and active listings are showing prices have climbed over the past 2 weeks, which are key indicators or future home sales and prices. His belief is that it seems more likely that sentiment will improve and prices will strengthen further.

Arizona Housing Report - April 2009

2009-04-15T11:08:00.000-07:00

In the last 2 weeks the supply of available inventory of homes on the market has gone from 7.4 months to 6 months. Pending listings continue to climb into unfamiliar territory and reach new highs practically every day.

The greater Phoenix market is not conforming to what is happening around the country. You may have seem reports about the doom and gloom occurring everywhere, but indicators here in the valley are pointing to something different altogether.

Pending home sales are now greater than at any other time, including in 2005! This go around the trend is not fueled by a shortage of homes, rather attractive pricing. A very interesting sign is that foreclosed homes have leveled out in pricing over the last 2 months between $77-78/square foot. Does this indicate a bottom? While no one can be sure, what is sure is that the market is changing - dramatically. Pending REO prices have stabilized around the $65-66/square foot price point, which tend to be a leading indicator of future prices - in which there is a 30-45 day time lag. It has remained in this range for the last 3 weeks.

On the flip side, the number of foreclosure notices hit a record high in March of 10,689. While some seem to indicate that this will bring more doom and gloom to the local market, I believe the contrary. Homes taken back by the lender (post-foreclosures) has hit its lowest level in 11 months, and canceled trustee sales hit a very high number of 3,168. What is going on?

- lenders are trying to work things out with homeowners (loan modifications, etc)
- owners are proactively looking for solutions to avoid a foreclosure on their credit report (short sales, short refis, etc)
-government involvement is slowing down the number of homes going back to the lenders

There are people wanting to move who have voluntarily stopped paying their mortgages, although they have the ability to. They tend to have substantial negative equity in the home. This is to get their lender to agree to a short sale. If they kept up their payments the lender would not allow the sale of the home.

Although notices are up, it is believed that the number of homes that will revert back to the banks is on the decline.

REO inventory levels continue to thin out. We are seeing signs of REOs selling very quickly, at or above list price, and with multiple offers. The higher priced areas continue to remain slower and the supply remains constant, at least for the time being. These areas may take much longer to turn around than the starter home price range, which is giving signals that a pricing floor may be close at hand.

Valley Housing Market Outlook Positive

2009-04-04T08:24:00.000-07:00

March showed some very exciting and positive trends in the Phoenix real estate markets. Sales figures reached levels we have not seen since the year 2005. Prices in some areas showed a levelling off, or, no more downward movement. Many areas in the outskirts of town are leading a possible housing rebound. Homes priced at $150,000 and under are receiving the most showing activity, and are receiving multiple offers.

Last month 7,550 homes sold, up 70% from a year earlier. There are approximately 11,500 pending sales, 90% of which will become final.

About 2/3 of all sales are foreclosure properties being resold to investors and first-time buyers, among other groups. Based on the available inventory available, these buyers are really taking alot of it off the market, decreasing supply. Foreclosures are taking half as long to sell today as they did last fall, 117 days vs. 227.

The number of foreclosure homes on the market continues to fall, while the number of preforeclosures climbs. Over 10,000 default notices were issued in March. Other options are becoming available for these owners, such as loan modifications and short sales, where many of them may not end up going back to the lenders.

If sales continue to trend upward in April and May, there's a good chance prices in the most affordable areas could go up in June.

People are beginning to perceive we are at the bottom of the market, and April will be a key month for the market.

Buying Your First Home? Here's what you need to know.

2009-03-28T10:34:00.000-07:00

First-time homebuyers stand to be the biggest group of winners in the current Phoenix housing market. They can essentially deduct $8,000 off the price tag for whatever home they choose to buy, in which the prices are already incredible, resulting in a tax credit from the government. They can even amend their 2008 return and get that money back right away.

In addition, prices are incredible and interest rates are very low. As a first-time buyer you typically don't have any contingencies either, such as selling your current home, making your offer much more likely to be accepted.

If you think you'll be in the same place for awhile, have steady income, and some money in savings for a down payment, now may be the time to consider buying.

Here are some frequently asked questions:

When should I talk to a mortgage loan officer?

Right away, before you even look at homes. Find out what you can not only afford, but qualify for. Go through the loan pre-approval process and obtain a Loan Status Report (LSR), which is required in the purchase contract to make an offer. It lets you know your max pricepoint and interest rate.

What info will the lender need?

2 years tax returns, one month pay stubs, several months of bank statements, and statements from any investment accounts you might own. You should also know info about your liabilities, student loans, credit cards, etc, mainly the balances and payments.

What kind of down payment am I looking at? Expect 3.5% for FHA financing.

How much cash do I need?

At the time of offer you will need to provide an earnest money deposit, typically 1% of the purchase price. It shows the seller you are a serious buyer. The earnest money is deducted from the closing costs and down payment due at closing. Closing costs tend to hover around 3% of the purchase price, but can range anywhere from about 2-5%. It's common to ask the seller to pay part of all of your closing costs, but there is no guarantee they will agree. Your home inspection will run about $250-350, and consider how much it will take to move, set up your new utilities, and whether you still owe rent on your current lease.

What is included in the mortgage payment?

Property taxes, mortgage insurance, principal and interest payment, and hazard/homeowner's insurance. The principal and interest goes towards the mortgage loan.

Do I need a real estate agent?

Yes. Agents can walk you through every step of the process. Buying a home is very complex, and you do not want to go through most likely the biggest purchase of your life alone. Agents can help you save time and energy by focusing your search based on your search parameters. They will help you understand the home inspection report, ask for repairs from the seller, and make sure the process is going smoothly. You should feel comfortable working with your agent, and never pressured. They should be able and willing to answer all of your questions and be straightforward when working with you all the way up to closing.

Do I pay them - if so, how?

Generally, your agent is compensated by the seller of the property, to the tune of 3% of the purchase price of the home. You usually do not have any out-of-pocket expense here.

What about using the agent that listed the property?

Strongly consider using a different agent. That agent primarily represents the seller and has an obligation to look after the seller's best interests, not that they wouldn't treat you fairly. Some buyers look for a discount in this arrangement, as the listing agent doesn't have to share the commission with a buyer's agent.

How do I know if I found the right home?

Go with your gut feeling and buy in a desirable location. Shoot for your non-negotiable items, and then go with your "wants" in a home. Think about your lifestyle and what areas would be conducive to a happy living environment for you.

What about short sales and foreclosures?

Can represent great bargains. Short sales take a longer than usual time to close on, typically several months in the works, assuming you can get it for the price you have offered. Bank-owned foreclosures are sold in "as-is" condition and require a degree of repairs.

What should I find out before buying?

Crime rates, school information, property values in the area. Talk to neighbors and get a feel for the area at different times of day.

What about a home inspection?

Get one. It's like insurance - you want to know everything about what you are buying before you buy, so there are no surprises after you close and it's too late. You have 10 calendar days to conduct a thorough home inspection. If there are significant issues you can cancel the contract and receive your full earnest deposit back, or ask the seller to repair the issues.

So the inspection period ends. Now what?

The focus shifts from the property condition & inspections to your loan. Finalize the mortgage paperwork with your lender to move towards full loan approval. Make sure you have funds available to easily make your down payment. If the seller agreed to repairs make sure they have been done during your final walk-through. Arrange to get utilities in your name, and be sure to line up homeowner's insurance.

What about delays?

Delays are becoming more common, as underwriters are taking longer to approve files, and are asking for more and more information from borrowers. Just when you think you're done, you'll be asked more questions and have to produce additional paperwork. It's frustrating - but those are the times we are in.

Closing day?

You'll go to the title company (a neutral party to your transaction) to sign a large number of documents. Bring your driver's license and plan for 1 hour. After the title company receives your down payment (must be certified funds, i.e. a wire transfer or cashier's check), closing costs, and funds from your lender, the deed is then recorded in your name and you own the home. At this point your agent will deliver the keys to you.

Buyers Pursue Cheap Foreclosures in Droves

2009-03-22T18:31:00.000-07:00

Price levels are incredible, what other word can be used to describe what is happening? Lenders who have an abundance of inventory are selling homes at prices not seen in a decade. Investors, first-time buyers, retirees, and move-up buyers are taking full advantage. Deals can be found everywhere - from newer built homes on the valley's fringes to fixer-uppers in central Phoenix to Scottsdale luxury homes to old condos in Mesa.

Keep in mind foreclosures have their own set of issues: bidding wars (yes, they are back!), financing issues, repair costs. On the flip side the prices we are seeing were unthinkable just a few short years ago.

About half of available inventory is bank-owned homes or homes banks are fixing to take back. The number is expected to increase in the upcoming months.

How do you find foreclosures? Through a real estate agent and on most internet sites.

Before you buy, check out the neighborhood, especially the street the home sits on. How well is your desired home priced against the competition? Are there alot of empty homes? Check out the schools and road. Buy the ugliest home on the block.

A very hot segment of the market is in homes under $100,000, mainly found in the west valley, south Phoenix, and in Pinal County, areas that have been clobbered by the downturn..

Homes with the most physical damage and highest foreclosure rates with provide the most opportunity. Banks are not in the business of owning real estate, and they certainly don't want to pay for repairs, therefore they are going to discount the home accordingly.

Condition of foreclosures vary: every once in a while they are completely turnkey and ready to move in, but that is the exception rather than the rule. Some have been stripped of appliances, light fixtures, and even bathroom vanities.

For best results when dealing on the buying side, it's best to write "clean" offers without alot of contingencies or demands, i.e. that you must sell your home before you can buy this one. Banks would rather wait for another buyer to come along without holdups, and they are certainly drawing them out.

More and more buyers are using cash, as the ability to obtain financing has become immensely more difficult. 30% if sales in January were cash, up from 19% a year ago. For buyers that plan on occupying the home, FHA loans are available with 3.5% down payment. The program limit is currently $346,000. The house must be considered "livable", which means there cannot be broken windows, peeling paint, missing flooring, or mold, among other things. These loans typically do not provide for renovations, although there is a 203(k) loan which can accomplish this. With this type of loan the renovation expense is added onto the purchase price of the home.

Other financing help may be on its way. Arizona is supposed to receive $121 million next month, a portion of which will help buyers purchase foreclosure homes. This aid is coming from the Neighborhood Stabilization program through the federal government. The city of Phoenix plans to use a portion to give qualifying buyers $15,000 to cover down payment or closing cost assistance on buying a foreclosed home.

Investors have reentered the market in a big way. If bought right a home can be fixed up in 4-6 weeks and ready to resell as a profit. Be sure to keep an eye on other foreclosures, that you are not undercut.

Foreclosure prices have been a blessing for first-time buyers, who have previously been priced out of the market.

Last month, foreclosure sales climbed to about 70% of all valley resales, a figure that may alarm current homeowners.

The good news is that these homes must be fixed-up and resold, so better days lie ahead for everyone, as the market moves forward to recovery

Market update - March

2009-03-13T08:06:00.000-07:00

Sales in February were up 16% over January, but the really big news is the number of pending sales: from February 1 to March 11 they went from 7,344 to 10,180. We are now seeing a continuing trend upward to pending sales in the valley. We are starting to see evidence of demand not seen since 2005.

This is a very positive development that recovery may be on the way. The vast majority of this demand is for bank-owned foreclosures, which are priced incredibly well in this market. Sellers of non-distressed properties and new home builders are seeing very little of this increased demand.

As in January a remarkable 68% of the homes sold through ARMLS in February were lender owned properties and another 10% were pre-foreclosures and/or short sales. The good news is that these percentages didn’t grow further, as they have done for many months. We seem to have reached a plateau in distressed sales volume.

Among active listings: 53% are normal, 24% are in pre-foreclosure and/or short sales, and 23% are already owned by a lender. This shows another movement away from lender owned properties and an increase in pre-foreclosure properties. This is mainly due to lender owned properties spending comparatively short times active, rather than a lack of lender owned properties hitting the market.

On a $/SF basis we are at an average of about $89 across the valley based on February’s ARMLS sales, which is down 53% from the peak of $189 reached in May 2006. Prices have fallen much less in those areas with few foreclosures and much more in some with higher than average foreclosures. The pricing of pending listings suggests a further average $/SF price reduction for sales in March of 4% to 7%.

The median sales price dropped from $130,000 in January to $125,000 in February. This was a much smaller decline than we saw in January. The lowest median prices are still to be found in West and Southwest Phoenix.

The increased demand is primarily for single family detached homes. Year to date sales of these are up 81% compared with 2008,

FHA loan limits raised!

2009-02-26T10:13:00.000-08:00

FHA loan limits increased this week to $346,250, up from from $271,000. This will allow buyers to utilize loan programs with lower down payments on higher purchase prices.

Obama & Arizona - proposed new plan to improve valley real estate conditions

2009-02-21T09:06:00.000-08:00

As President Obama came to town on Wednesday an eager and subdued crowd awaited his plan to stabilize valley housing prices and pull us out of a continual downward slide of values.

The 3 main areas that were covered:

- a $75 billion homeowner stability initiative that could help 4 million at-risk borrowers.
Homeowners would have reduced payments in layers as a result of interest-rate reductions and government buy downs. Ideally the payments would get down to 31% of a borrower's income. If borrowers can manage this and stay current they could also qualify for $1,000 a year in government principal subsidies for five years.

- a refinancing push, opening this line to 5 million homeowners with Fannie Mae or Freddie Mac mortgages nationwide who cannot take advantage of low interest rates because their equity has dropped below or never reached the 20% mark. This would be an easy way to immediately lower payments to borrowers.

- through government investment, the position of Fannie & Freddie would strengthen. This would allow the firms to take on more mortgage debt. The plan also calls for more streamlined loan-modification guidelines for borrowers.

Should one of these proposals work, that could help stabilize home prices and provide a much-needed boost in the outlook many seem to hold of the current state of affairs in the real estate and mortgage markets.

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Mortgage rate dips

2009-02-21T09:04:00.000-08:00

The average 30-year fixed mortgage rate fell to 5.04% from 5.16% this week over last, according to Freddie Mac on Thursday