Kingman, AZ

The unfortunate answer to that question is "YES" we are still in a depressed market here in Mohave County, AZ. It is a great time for Buyers and Investors to make their first home purchase or investment property purchases but is very hard on the average home owner who needs to relocate for a job transfer, can't refinance because their home won't appraise for what they owe, has suffered a job loss and can no longer afford the home but due to the market prices can not sell for enough to pay off his mortgage.

These are troubling times for most. Job loss is at all time highs. The highest we as a country have seen since the great depression.

Credit card interest rates have gone up and credit limits have gone down. Adjustable rate mortgages from 2004 and 2005 are adjusting and payments are going up. The cost of living is still high while incomes are being cut in half or in the case of a single wage earner cut all together. Unemployment insurance fails to cover the bills accumulated through a better time.

Foreclosure is not the answer....

Many homeowners have walked away from their homes from a feeling of hopelessness and a lack of understanding of any other options. The amount of foreclosures that hit the market in 2008 and 2009 caused a huge drop in marketprices which put the rest of the homeowners who purchased or took out equity in 2004 and 2005 upside down in their home. This made it impossible to refinance those adjustable rate mortgages that could sometimes double the mortgage payment. So what do you do in this situation? Walk away? Deed in Lieu? Probably not the best choice. Foreclosure can follow you around for 5 to 7 years and a deed in lieu has the same result. The government has passed new legislation to make modification of your mortgage a real possibility and if you are trying to save your home I believe this should always be your first avenue to avoid foreclosure.

What if you have lost your job or had another tragedy which have caused you not to qualify for a Modification? Then the other option you have is to sell the home Short.

SHORT SALE DEFINED

A Short Sale is a negotiation between you and your bank to accept a less then owed amount to satisfy your mortgage obligation. Many banks are now being pro active in working with borrowers to either modify or accept the short sale. Some banks are even reporting on the credit report that the loan was satisfied in full. This is not ordinary and depends on the lender. A short sale usually will not effect your score as bad as the foreclosure depending upon your current credit history.

You should always work with a qualified and experienced professional to help you market and negotiate your short sale. You should always speak with a tax professional about any tax consequences that might occur. Take a deep breath. You have options!

Angela N Kidd Realtor CDPE

The Mohave County Board of Supervisors approved a zoning change that will allow Sun West Bio Diesel to proceed forward with their plans to construct a plant just outside of Kingman. In spite of vocal opposition to the plant from Valle Vista residents concerned about the safety of the project the Supervisors unanimously approved the change.

The planned site, currently zoned agricultural/residential will be changed to heavy industrial providing the plant is started within two years. If the company fails to produce the property will revert back to original zoning.

The company still needs to get air, water and other permits from the state and federal goverment agencies. This rezone is just the first step in the process to build and operate the facility.

For more information about Kingman AZ, visit www.kingmanrealestate4u.com.

Hualapai Valley Solar is one step closer to reality. Pending approval by the Western Area Power Administration the 4,160 acre solar power facility will include an electrical substation, a 500 kilovolt transmission line and hopefully provide power to the Meadview-Phoenix line. Next step is public comments on issues in connection with the Environmental impact statement.

The company has signed a letter of intent with the City of Kingman to provide 2275 acre feet of waste water to help cool the plant adding income to the city.

For more information regarding Kingman and the surrounding area visit our website at

www.kingmanrealestate4u.com

If you are in town the weekend of Oct 17, come downtown and help the Downtown Merchants parade celebrating the 100th birthday of the historic Powerhouse. Following the the parade enjoy the Walk-in-the Park Fall Festival at the Powerhouse and adjacent Locomotive Park. The Parade starts at 10 a.m.

Built in 1909, the building was constructed by the Desert Water & Power Company to illuminate the interior of mines in Goldroad, Oatman and Chloride. Soon after the plant also transmitted power to area businesses revolutionizing Kingman merchants.

The Powerhouse also provided electricity for Hoover Dam during construction. The construction of Hoover Dam brought an end to the production of electricity for the Powerhouse and it sat idle for 56 years until a group lead by Toby Orr, Local commerical contractor revitalized the structure which opened to the public in 1997 as an official state visitor's center and the home of the Arizona Historic Route 66 Association and museum.

Come on downtown and enjoy the two day event!

For more information on Kingman AZ visit our website at www.kingmanrealestate4u.com

Hualapai Mountain Medical Center announced they will open mid-October 2009 as scheduled. Located in Kingman off Airway Avenue on Santa Rosa Drive the modern building complex is putting on the finishing touches and has had great success in filling open positions.

The Hospital will have limited services until it receives its official Medicare license number. A Medicare number allows the hospital to receive reimbursement form Medicare and Medicaid which leads to finalization of contracts with private insurance.

For information about Kingman and the surrounding area visit www.kingmanrealestate4u.com