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Randy Hooker ~ Gilbert, Chandler, Mesa, Queen Creek

Property Tax Rate Changes in Maricopa County (Greater Phoenix, Arizona)

Arizona's Maricopa County includes Phoenix, Chandler, Gilbert, Mesa, Queen Creek, et al.

Following is a chart, courtesy of the Maricopa County Tax Assessor, that shows a comparison of 2009 vs. 2010 median Full Cash Value (FCV) for each city in the county.

FCV's will not rarely, if ever, line up with current resale market values, but the trends should be comparable.

Here's a simple equation for you to remember: Assessed Value does NOT equal Market Value. So FCV should NEVER be used to try to accurately determine the current market value of any given property.

I posted the chart here so you could take a quick glance at the latest annual change in each city. And we can all go take some Prozac! ;-)

Randy Hooker -  Chandler, Gilbert, Mesa, Queen Creek, Arizona Real Estate

Maricopa County Property Taxes - Randy Hooker


Homes in Arizona ~ Homes in Gilbert ~ Homes in Chandler ~ Homes in Mesa ~ Homes in Queen Creek

Greater Phoenix Area ~ Weekend Freeway Closures & Restrictions ~ Feb 27 - Mar 2, 2009

Phoenix Arizona Freeways - Randy Hooker

  1. Northbound Loop 101 (Price Freeway) closed between Broadway Road and Rio Salado Parkway for overhead sign work. US 60 ramps to northbound Loop 101 also closed. 11 p.m. Friday to 5 a.m. Monday (March 2)
  2. Southbound Loop 101 (Price Freeway) closed between Southern Avenue and Baseline Road for overhead sign work. 11 p.m. Friday to 5 a.m. Monday (March 2)
  3. Southbound Loop 101 (Pima Freeway) closed between Cactus Road and Shea Boulevard for overhead message board work. 10 p.m. Friday to 4 p.m. Saturday (February 28)
  4. Eastbound US 60 (Superstition Freeway) narrowed to two lanes near Mill Avenue for widening project. The eastbound US 60 on-ramp at Mill Avenue will reopen to traffic by 5 a.m. Monday. 6 a.m. Sunday to 5 a.m. Monday (March 2)
  5. Westbound Interstate 10 narrowed to one lane between Dysart and Litchfield roads for widening project. The westbound I-10 on-ramp at Dysart Road and westbound off-ramp at Litchfield Road also to close for approximately 60 days starting Friday night. 11:30 p.m. Friday to 9:30 a.m. Saturday (February 28)

Have a safe and happy weekend!

Randy Hooker -  Chandler, Gilbert, Mesa, Queen Creek, Arizona Real Estate

Homes in Arizona ~ Homes in Gilbert ~ Homes in Chandler ~ Homes in Mesa ~ Homes in Queen Creek

Calling all Bankruptcy Attorneys

I've been hoping I would never have to blog this story, but it's become such a prevalent story in our country and economy, I suppose it was inevitable. The law of averages caught up to me!

Bankruptcy Court

One of my homeowner clients in Arizona is in financial trouble. Due to circumstances beyond her control, Elaine (we'll call her) is not able to keep with her mortgage loan payments. She has a first loan and a second loan on her home, and has made a valiant attempt at negotiating loan modifications with both lenders.

Elaine's first is an interest-only loan, and the best "offer" she was able to get from them was a reduced interest rate to 4.5% for the next year, going to 5.5% the second year, and then to 6.5% for the remainder of the loan (approximately 25 years).

However, the lender would only agree to the foregoing rates if Elaine agreed to a fully amortized loan. By requiring her to start paying back principal, in addition to interest, the resulting monthly payment (for the first year) would be the same as her present interest-only payment. And from the second year on, her monthly payments would actually be considerably higher.

Neither of her lenders will consider a reduction in principal, and the first lender has now filed a Notice of Trustee's Sale. Without intervention or assistance within less than 90 days, she will lose her home to foreclosure and yet another bank owned house will hit the market.

Elaine is now weighing her options, including attempting a short sale, trying to hold out till March to see if she can get some help from the stimulus bill, and/or filing for bankruptcy and hoping for a loan 'cram-down' or lien stripping of her second loan.

No matter what Elaine decides, I've recommended that she consult with an experienced, reputable bankruptcy lawyer in the greater Phoenix area. Problem is, I don't know one to recommend to her! If you do, would you please get in touch with me?

Thank you!


Randy Hooker -  Chandler, Gilbert, Mesa, Queen Creek, Arizona Real Estate


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