Gina McKinley, ABR, CDPE, CRS ~ Chandler, Gilbert, & Mesa's #1 Expert

Refinancing, a simple word and a sometimes complicated process. If you are considering refinancing in Arizona the following tips can help you be prepared for the process. Refinancing in Arizona to lower your monthly payments can be a great idea, but it is imperative that you know exactly what you are signing up for before you sign the new papers.

Variable or fixed. Make sure you know if you are getting a fixed or a variable rate mortgage. With a fixed mortgage your payments will remain the same for the length of your mortgage (with the exception of a rise or dip in property taxes). A variable rate mortgage typically starts with low monthly payments that adjust over a period of time. With a variable rate mortgage the payments can go up dramatically after a period of time.

Is it a good idea to refinance? Sources say that refinancing in Arizona makes sense if you can reduce your current mortgage by 2 points or more. Analyze whether the cost of refinancing is worth it by figuring out how long it will take you to cover the refinancing cost and whether you plan on being in your home that long. If your new mortgage will save you $200 a month in mortgage payments but it costs $2,000 to complete your refi then it will be 10 months before you recoup the cost.

Length of your mortgage. Shorter loans have lower interest rates but higher monthly payments. Mortgages are usually 15 years or 30 years in length. Make sure that your new loan doesn't have penalties associated with an early pay-off if your plan is to pay your home loan off early.

Refinancing in Arizona can be a wise financial decision especially with mortgage rates at a 30 year low. Weigh all of the details and make sure that your new mortgage is exactly what you are looking for before signing on the dotted line.

Gina McKinley, an Arizona real estate agent, can help you with learning the in's and out's of Arizona mortgage refinance. Gina McKinley can be reached at (480) 355-8645 or by email.

Click here for more information about refinancing from Yahoo Real Estate.

Young people just starting to invest and buying their first homes are potentially the winners in this recession. They are winners multiple ways - the tax credit, high affordability, and historically low mortgage rates. Investors can be winners as well due the decline in property values since rentals properties can now cash flow due to the low mortgage rates. Both Invenstor and First-Time Buyers can reap high rates of return on a long term investment.

First-time homebuyers accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®

"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."

A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.

"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."

To continue to help First-Time Buyer's, extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said.

After Wednesday's meeting with President Obama and House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) released a statement that the government should "continue efforts to strengthen the housing market by extending the home buyer tax credit."

Mark Zandi, chief economist at Moody's Economy.com, who is a consultant to Democrats in the administration and Congress, is advocating extending the credit through August and making it available to all home buyers. He said failure to extend the credit just as more foreclosures enter the market will push housing prices down.

Also, on Thursday, the House is expected pass legislation to extend the credit through 2010 for people who have been out of the country in the military, intelligence, or foreign services.

Staging Scottsdale AZ homes for sale prepares them to be more appealing to the potential buyer's eye.

Selling Scottsdale AZ real estate in Scottsdale's buyers market requires attention to details. The key to successfully selling your Scottsdale AZ home is to make it stand apart from the rest. Staging is, in essence, getting a house decorated/designed by a professional to specifically make the Scottsdale home more appealing to buyers.

Many Arizona real estate companies have turned to staging companies to put the best foot forward for a Scottsdale home for sale. Empty homes can be completely furnished by staging companies to help the potential buyer see what the home for sale looks like furnished.

However, if you or your Realtor decide not to spend the money on staging, here are a few tips for staging your Scottsdale home yourself:

• Remove clutter. Clear off counters, clean out cabinets and closets. To much stuff lying around gives rooms, closets and cabinets a smaller feel. You want the potential buyer to see space and room.
• Get rid of personal items and leave neutral feel. Photos, school items, political and religious material should all be removed. The buyer needs to see himself living in the house, not you living in the house.
• Pay attention to the outside of your house and how it presents itself. A little landscaping can go a long way. There will never be a second chance to make a first impression.
• Clean, clean, clean. Clean your floors. If you have carpet get it cleaned professionally. Make sure your walls are clean and your appliances smudge-free.
• Move furniture around to make your rooms seem more spacious. Also use furniture to define spaces. Make your home as inviting and roomy as it can be.
• Have a home inspection done. By having your home inspected before selling it you can fix many of the issues that may arise and make a deal more complicated.

Remember, when you are selling your Scottsdale AZ home you want it to appeal to the potential buyers. If you can get them to fall in love with your Scottsdale AZ house then you will likely get the money you are asking for it.

Gina McKinley, a Scottsdale AZ real estate agent, is an expert stagger and can help you present your house for sale in its most flattering. Gina McKinley can be reached at 480-355-8645 or by email.

The government's First-Time Home Buyer Tax Credit program expires November 30, 2009 - a scant 60 days from today.

Considering it can take up to 60 days to close on a home.....

To read the full article, please visit: http://www.brokeragentsocial.com/BobPhillips/blog/3172/

It is a great time to be a first time Chandler AZ home buyer. Not only are home values down and mortgage rates at historic lows but the First Time Home Buyer Tax Credit will give you 10% of your home’s value (up to $8,000) at closing. These three items can add up to significant savings for the first time Chandler Arizona home buyer, making it an ideal time to start looking at Chandler AZ real estate. However, there are important things to keep in mind before buying your first Chandler AZ home to make sure this important decision is the right one for you and your wallet.

• Get Information. Most communities offer free seminars for first time home buyers. There are also non-profits that offer helpful advice and information. Visit www.HUD.gov for helpful tips and a list of agencies near you that have free information available.
• Know What You Can Afford. Analyze your monthly budget. A good rule of thumb is that your mortgage should be 28% of your expenses or less to be successful financially. Remember to factor in home owners insurance andproperty taxes into this scenario.
• Talk to a Lender. Start talking with a bank or mortgage lender and get the ball rolling. The process of being approved by a lender is a longer process these days and you want to make sure that you get approved before the First Time Home Buyer Tax Credit expires on November 30.
• Find a Real Estate Professional. Finding the right real estate agent to work with can make your deal run that much more smoothly. A good real estate agent will help find you a home that works for you, not against you. A good real estate professional can also help you find a good lender if you have had a hard time during that step. Gina McKinley knows the ins and outs of Chandler AZ real estate, and can help you find your perfect first home.
• Know What You Are Committing to. During a real estate deal you are signing a lot of papers. Know what you are signing. If your real estate agent is having a hard time explaining things to you you might want to take the extra step and get a real estate lawyer to review your documents.

When it comes to buying your first Chandler AZ home you want to make sure your are buying something you can afford, something located in the Chandler AZ neighborhood you want to live in, and most of all, a place that you want to call home. Gina McKinley can give you great information and advice on your first time Chandler AZ home purchase, so you can make the best decision. Gina McKinley can be reached at (480) 600-1129 or by email.