So, either real estate is at its prime or you are scared to touch it. What should you do in this market? Foreclosure properties in Chandler have dropped in price so much in the past years and interest rates are at historical lows. Is now the time?

Well, ask yourself this, what if interest rates start to rise? What if investors start to buy up the Chandler market and stabilize or raise the prices of homes? This is a reality. A fact is that you cannot build/rebuild homes for the price that Real Estate is selling for today. Doesn’t that in itself make Chandler short sales or foreclosures a good deal today?

If you want to buy a foreclosure for the long term, as homes were originally intended for, do you really have anything to lose by purchasing a Chandler home at an interest rate of 4.5%? Seems like it makes sense to me. There was a time that interest rates were in the double digits and that was considered a good deal then. The market and rates cannot stay at historical lows forever.

Let's think about the numbers for a minute:

• $120,000 Chandler home price – 30 year mortgage - at 4.5% is a PI (payment & interest) of $608.02 per month.
• The SAME mortgage at 7% is $798.36 per month. An almost $200 increase in payment per month.

In fact to obtain a similar mortgage payment of your 4.5% loan at 7%. If you waited and interest rates rise to 7% you would now have to purchase a home at $91,500 to afford that $608.02/mo mortgage.

Now, I know that seems crazy, but 7% was a very normal interest rate back in the early 2000’s, not so long ago. Interest rates will start to rise again. Do you want to be left behind or would you rather be locked into a 30 year mortgage at these unbelievable rates now? If all of that is not enough, think about owning your own home in Chandler, Gilbert, Tempe, you choose the city and knowing that it is yours. There are so many short sales and foreclosures on the market right now waiting for you to step in and call them your home. Your kids will have great schools to attend for years to come, as well as good food, shopping and everything you need right around the corner.

These neighborhoods of Chandler, Gilbert, Tempe are places you would want to live and rental market is just as good too. Remember investors; all of the people displaced from their homes in this downturn in the economy still need a good place to live as well.

We at the Phoenix Metro Group can help you find Chandler Foreclosure or sell the home you already have.

My name is Marie Phelps and you can contact me anytime at phoenixmetrogroup@gmail.com or call me directly at 866-602-4601 extension 102.

You can also search homes in the Phoenix Metro Valley of Arizona.

What is a short sale of a home?

Most of us now know that a short sale is a sale of a home for an amount that is less than what is owed to the creditor.

Why would a creditor allow a Chandler short sale happen?

Well, there are a lot of reasons, but the simplest of reasons is that it is less expensive for a creditor to allow the short sale of a home rather than the foreclosure and resale process for those who have run into financial trouble. The creditor is most likely not collecting the mortgage owed each month on the property combined with the long foreclosure process, it costs the bank significantly more to foreclose rather than short sale a Chandler or Gilbert home. Another fact is that most creditors are dealing with numerous amounts of defaulted loans to start with so, if all of them foreclose they will own real estate, and have to pay a realtor to list the property and obtain a buyer anyway.

So what happens to that money the bank get's shorted???

Usually, debt that is forgiven or cancelled by a lender must be included as income on your tax return and is taxable. The Mortgage Forgiveness Debt Relief Act of 2007 plus new legislation by the Obama admisinistraion allows you to exclude certain cancelled debt on your principal Chandler or Gilbert residence from income. Consult a tax proffessional for complete details.

We at the Phoenix Metro Group are expert short sale agents in Chandler & Gilbert Arizona that have successfully closed numerous short sales with several banks. Wells Fargo, Bank of America, Suntrust, M&I, HSBC and Chase are just some of the creditors we have worked with. Each creditor has it’s own process for short sales and all require a lot of tedious paperwork, but if you hire an expert short sale agent to handle the sale of your Gilbert property, your chances of the short sale being approved rise significantly.

Please feel free to contact us directly at phoenixmetrogroup@gmail.com or to speak with me directly, Marie Phelps, at 866-602-4601 x 102. I can answer any of your questions or help you with the sale of your home. I have extensive training and expertise with short sales, re-sales and new construction in the Chandler/Gilbert area and I am here to help you.

Indoor Batting Cages Opening in November!

They will offer cage rentals, private lessons, camps, clinics, team rates, and parties.

7343 S 89th Place, Mesa, AZ (Ellsworth & Pecos – in the area where Club Dance & Sk8 Asylum are)

480-987-2878

www.FenceBustersAZ.com

For More San Tan Area information & events visit SanTanEvents.com!

It's no doubt that Social Media is here to stay.

It's a great way to stay in touch with friends and family and places you do business with. Next time you have a customer service problem, head to Twitter or Facebook. Over half of Fortune 100 companies now use their Twitter for customer service. Large companies like Best Buy and tons of others use it!

For example, I had an issue with a small local company that offered an entertainment service. I "liked" their business page on Facebook. I had never used their service before, but I "liked" their page because I wanted to use them. When it came time for me to utilize their service I went to their website and they didn't have their prices advertised with their availability. They had a contact form on their website to inquiry more on their services. So I did, I left specific instructions asking them to call me on the next business day (sometimes it's easier to speak with someone instead emailing 5000 times back and forth). Did they call me?? No, they sent me an email thanking me for contacting them and gave me the same vague information that was on their website, not the specific information I was looking for. I emailed back and forth a couple of times with their service rep, still only receiving general information. So, I went on facebook and posted a frustrated status update using the @businesspage tag. Using the @ symbol, then the name the of a person or business you like or are friends with "tags" them. They saw this tag right away and contacted me through facebook and I asked for a phone call. They called me right away and I finally got the information I needed to order their services. They were great! My kids loved them!

Not all companies use twitter and facebook for customer service. Some just use them to get the word out - just for PR stuff. A good way to see if they will use it for customer service is to check out their pages. For example, Best Buy has a load of Social Networking pages.

• Facebook.com/bestbuy
  
• twitter.com/bestbuy (main tweet page)
  
• twitter.com/twelpforce (for tech related questions)
• friendfeed.com/bestbuy
  

Remember with Twitter you only have 140 characters to explain your problem! Be specific and use your characters wisely. Also, twitter uses hashtags (a hashtag is the # sign) to track keywords. So if your posting about Best Buy use #Bestbuy or if posting about us, The Phoenix Metro Group use #phxmetro.

Ask us questions or comments on www.facebook.com/phoenixmetro or www.twitter.com/phxmetro - we embrace social.

FAQ's about Purchasing an Arizona (AZ) HUD Home

See our Featured Johnson Ranch HUD Home

1. What is HUD? The U.S. Department of Housing and Urban Development. Please visit www.HUD.gov for additional information.
2. Do I need a realtor to place a bid for me? Yes, the Phoenix Metro Group is registered to bid with HUD.
3. How do I find a property to bid on? Log onto www.hudhomestore.com to search for available HUD properties.
4. How can I obtain financing for my property? Please contact a lender or mortgage broker
5. Do owner-occupants have a priority in bidding? Yes, there is an initial owner-occupant period set aside at the beginning of the bid process.
6. What is the Good Neighbor Next Door (GNND) program? The good neighbor next door program allows teachers, police officers, fire fighters and EMS personnel to purchase HUD properties that are located in a revitalization area for a 50% discount if they live in the property for 36 months. More information is available online: http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm.
7. What are my financing options? You can use FHA or conventional financing to purchase a HUD home. You may also purchase a property with cash.