TJ Harris, Exclusive Buyers Agent, Certified Negotiation Expert 85268 AZ

In today's marketplace our buyers need all the help they can get and as agents for buyers we need to be aware of some of the great financing programs that are available to potential buyers. What a great time this is to hone up our skills and market ourselves based on the knowledge that could turn potential buyers into buyers. Entering into this new business of Buyers 1st Realty in Fountain Hills, Arizona and with a business model of exclusive buyer representation, I realize I need to do just that to be prepared for any buyer in any price range.

I attended a seminar just before the 1st of the year that covered the FHA Streamline 203(K) Limited Repair Program. There was a time in Fountain Hills that it was tough to find a property under $300,000 and this program never would have been considered. Boy have times changed. This program is geared for buyers that fall in love with a property that needs some TLC, cosmetic updating, or a new kitchen but don't have the extra cash or the wherewithal to take out an additional loan to address these issues. This is where the FHA Streamline Limited Repair program comes in. Buyers can do limited rehab & repairs, and new upgrades up to $35,000. They can even combine it with the FHA Energy Efficient mortgage and possibly get up to an additional $8000. All repairs, rehab or upgrades need to be completed within 90 days of close of escrow. We all know there are plenty of contractors out there looking for work that can get the job done easily in that time frame. Now what you need to be aware of is that these figures cannot exceed the FHA loan limits. In Fountain Hills, AZ our FHA limit is now $271,050. But as I said earlier there used to be a time when you could not get much of a property for under $300,000 in Fountain Hills. We now once again have affordable homes in Fountain Hills and this is a program that we need to let our buyers know about.. There are of course other added details to this great program. For more information I can be contacted at Buyers 1st Realty, www.azbuyers1strealty.com or 480-836-4338

The dictionary says the word process means "A series of actions, changes, or functions bringing about a result". Thus the reason I refer to the "Short Sale" being a circus instead of a process. Here is how I see it at least in the deals we are working on in Fountain Hills, AZ. In the left ring we have the Sellers, in the far right ring we have the Buyers and in the center ring we have the Ringmaster. . oops the Lender. Let the show begin.

In the first act the buyers have already performed, they just want to buy a home and in good faith have submitted their offer along with their pre-approval letter. In the second act we have the Sellers, they have accepted the buyers offer and only want to get the deal done and avoid a foreclosure.

In the center ring we have the lender and this is where the show really begins. No one seems to know who's on first, can you picture the clowns under the big top. Oh and here comes the fourth act, the second lien holder. After umpteen phone calls to whomever we think is handling the transaction there is yet another act coming into the ring. There is now an agent that the lender has hired to handle the whole transaction and dare I say they ain't working for nothing.

Their job is to get the best deal for the lender. Sorry Mr. Buyer can you come up with more money or Mr. and Mrs. Seller dig into those pockets alittle deeper, surely you have a few bucks somewhere that I can get for the lender/lenders. No can do, well then how about you Mr. or Ms. Real Estate Agent. . perhaps you would consider contributing part of your commission. By the way this performance comes some two months into the deal. Yes I think the majority of Short Sales fall into the definition of a circus.

So I say to all my future buyers in Fountain Hills and Scottsdale, AZ if you really want to entertain buying a short sale property, you must have alot of patience and yes a good sense of humor. Know we try very hard to get you the home you have fallen in love with. However you also need to know the short sale is not a typical transaction where we would normally deal with professionals that return phone calls or have consideration for a buyer that needs to close by a certain date, or actually give credence to the fact that you are trying to lock in a great interest rate but can't do so until you have an approved contract. If you do decide to go the short sale route, there are a few that go abit smoother than I just described, you just need to know that most of them do not.

Well here it is January 2, 2009. I am still messed up with the days of the week. I am not sure if this is an official work day or still part of the New Year holiday. My guess based on the number of people at the gym this morning it is probably the latter. This is my very first blog and I must say I am "pumped" about alot of things starting out the new year with a new business called Buyers 1st Realty. Yes my business is all about exclusively representing buyers. Some may say, "what buyers" since that has been the mantra for the past several months. I do believe that is about to change. On New Years Eve I had three prospective buyers walk into my office looking for their "Free Buyers Foreclosure Lists". You see I have that plastered across my storefront window. For the past few months this form of what I consider free advertising has been on my window, but I must say it did not produce the traffic I expected. So what is the difference now, well I have an office in Fountain Hills, AZ and that means that all that cold snowy weather back east and in the Northwest is bringing not only the holiday visitors but the snowbirds back to our beautiful 70 degree temps. In the past two weeks I think there have been some 15 deals that have gone pending in our area. I would say that approximately 12-15% of our listings are short sales or lender owned properties in our area. We have not been hit as bad as other areas in the Valley, but the "deals" are there. Interest rates are coming down and yes Virginia you can get a mortgage!