Here in the Metro Phoenix AZ real estate market, or in this case Scottsdale AZ real estate market, it may not be Spring yet but the heat is definitely ON!
As soon as signs go up, and often before a listing even hits the MLS as active, prospective buyers are on their phones begging their agents to get the scoop. If the price is right....an agent can expect multiple offers to hit their email and fax within the first few days on market.
So....how does a financed owner occupied buyer prevail and beat out all those cash snowbirds and investors chomping at the bit for the next priceless pearl?
Write a letter.
Yep, that's what you should do. Write a letter. And try to meet the Seller so you can introduce your family and let them know how great their home is. Obviously, this strategy probably won't work with a Lender Owned or Foreclosed property listing, but it will with a short sale or traditional sale where there is a human being selling the home who has some emotional investment in the property.
Appeal to their emotions. Let them know how much you love their home and want to be a part of what once was their neighborhood. If it's a short sale, let them know you will wait out the negotiations and that you, too, are emotionally invested in their home.
Most distressed sellers don't want to leave.....but have exhausted all other options. They are often close friends with their neighbors and know that little Sally next door would love another 5 year old to play with, seeing as she won't be able to play with the Seller's little Joey anymore.
Now, it goes without saying that your offer will also need to be very competitive. I wrote a separate blog on that which you may reference here. Keep it clean: Don't ask for home warranties or seller concessions....put as much money down as you can, offer as much earnest up front as you can....reduce inspection periods, etc.
Don't think a letter will work? Think I'm full of hot air?
I just had a listing in Scottsdale accumulate 10 offers over a 3 day period on market. We listed aggressively at $169,990 (Wow, Sellers who took my advice, woo hoo!). We had several cash offers below, at, and above list price, up to $175k. We had finance offers up to $183k. So, which offer did the sellers take, you ask? Obviously the $175k 10 day quick close cash offer, right? Or maybe the $183k finance offer?
Eh. Wrong. The seller accepted neither of those offers. They went with the conventional offer for $179k. It was slightly lower than the other finance offer, but the buyers were putting 20% down and they MET THE SELLERS AND WROTE A LETTER. 
The sellers were sure of their decision, before we even sat down to thoroughly review and dig through the pile of offers. A few thousand dollars made little difference to them. Bottom line? They loved the buyers!
The old saying in sales is that people buy from people they like. Why should it be any different for a seller?
Pinal County has received $3,168,315 in federal Neighborhood Stabilization Program (NSP3) funds. These are funds made available through the U.S. Housing & Urban Development (HUD) Program’s Neighborhood Stabilization Program. The program provides targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties. This will meet the HUD objective of stabilizing neighborhoods in Apache Junction, Coolidge and Casa Grande damaged by foreclosure, vacancy or abandoned properties.
The County will be using its $3.17 million allocation to address foreclosure issues in four “areas of greatest need” that meet strict criteria outlined by the HUD grant program. The areas chosen are select neighborhoods within the cities of Apache Junction, Coolidge and Casa Grande. The areas were chosen based on criteria set forth by the NSP3 program as well as input from municipal employees within the county. Contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a home in these qualifying areas!
Adeline Allen, Pinal County Housing and Community Development Director, explained that selecting areas of focus was made difficult by the limitations imposed on use of the funds.
*All buyers shall receive a minimum of 8 hours of HUD-certified homebuyer counseling and education through a HUD-certified housing counseling agency. Prior to receiving NSP3 assistance, buyers will be required to provide a certificate of completion from a HUD-certified agency.
* All buyers must contribute the greater of 1% of the purchase price or $1,000 from their own funds.
Down Payment Assistance
Pinal County will provide down payment assistance equal to 20% of the property purchase price. Buyers, who must owner occupy purchased units, may acquire 30-year, fixed-rate financing through a lender of their choice. Financing shall be based on qualifying ratios not to exceed 31/43. NSP3 down payment assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any down payment assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Closing Cost Assistance
Income Level 1 buyers (households with incomes below 80% of the County median income) shall receive closing cost assistance up to $5,000, not to exceed actual closing costs. NSP3 closing cost assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any closing cost assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Rehabilitation Assistance
Pinal County will provide up to $25,000 in rehabilitation assistance to purchasers of NSP3 properties. The actual amount of rehabilitation assistance will be based on a pre-purchase inspection, work write-up and cost estimate prepared in accordance with the County’s Rehabilitation Standards. Rehabilitation assistance shall be in the form of a 0% forgivable loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of the principal balance upon resale or noncompliance with any terms of the deed of trust during the affordability period. Properties will be evaluated for rehabilitation and brought into compliance with the County’s rehabilitation standards. The County will prepare a rehabilitation work write-up and rehabilitate acquired properties. Whenever possible, local contractors will be utilized, including those in the vicinity of the areas of greatest need. Still, the target areas are very small and residential, and the possibility of hiring contractors located in the target areas may be difficult. Contractors will be selected through a competitive process. The work write-up and rehabilitation will include energy efficiency and green building standards.
Much of the funding will be used to help qualified home buyers with down payment and closing cost assistance and financing for rehabilitation assistance to purchasers of NSP3 properties. The funds will be available to applicants who meet income and other qualifications and intend to purchase or rehabilitate homes within select neighborhoods in Apache Junction, Coolidge and Casa Grande. So contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor today!
Interested homebuyers may apply at the Pinal County Housing & Community Development Department office and should contact Jessica Sulliman, Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a qualifying home.
To learn more about the specific income and financing prerequisites, please contact the Pinal County Housing & Community Development Department office, Monday through Friday from 8:00 AM to Noon or by phone at 520-866-7203. The office is located at 970 North Eleven Mile Corner Road, Casa Grande, AZ.
NSP3 Program
970 North Eleven Mile Corner Road
Casa Grande, AZ 85194
Email your comments to: patricia.farnworth@pinalcountyaz.gov
Phone: 520-866-7234
Click here to down the application
Pinal County has received $3,168,315 in federal Neighborhood Stabilization Program (NSP3) funds. These are funds made available through the U.S. Housing & Urban Development (HUD) Program’s Neighborhood Stabilization Program. The program provides targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties. This will meet the HUD objective of stabilizing neighborhoods in Apache Junction, Coolidge and Casa Grande damaged by foreclosure, vacancy or abandoned properties.
The County will be using its $3.17 million allocation to address foreclosure issues in four “areas of greatest need” that meet strict criteria outlined by the HUD grant program. The areas chosen are select neighborhoods within the cities of Apache Junction, Coolidge and Casa Grande. The areas were chosen based on criteria set forth by the NSP3 program as well as input from municipal employees within the county. Contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a home in these qualifying areas!
Adeline Allen, Pinal County Housing and Community Development Director, explained that selecting areas of focus was made difficult by the limitations imposed on use of the funds.
*All buyers shall receive a minimum of 8 hours of HUD-certified homebuyer counseling and education through a HUD-certified housing counseling agency. Prior to receiving NSP3 assistance, buyers will be required to provide a certificate of completion from a HUD-certified agency.
* All buyers must contribute the greater of 1% of the purchase price or $1,000 from their own funds.
Down Payment Assistance
Pinal County will provide down payment assistance equal to 20% of the property purchase price. Buyers, who must owner occupy purchased units, may acquire 30-year, fixed-rate financing through a lender of their choice. Financing shall be based on qualifying ratios not to exceed 31/43. NSP3 down payment assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any down payment assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Closing Cost Assistance
Income Level 1 buyers (households with incomes below 80% of the County median income) shall receive closing cost assistance up to $5,000, not to exceed actual closing costs. NSP3 closing cost assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any closing cost assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Rehabilitation Assistance
Pinal County will provide up to $25,000 in rehabilitation assistance to purchasers of NSP3 properties. The actual amount of rehabilitation assistance will be based on a pre-purchase inspection, work write-up and cost estimate prepared in accordance with the County’s Rehabilitation Standards. Rehabilitation assistance shall be in the form of a 0% forgivable loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of the principal balance upon resale or noncompliance with any terms of the deed of trust during the affordability period. Properties will be evaluated for rehabilitation and brought into compliance with the County’s rehabilitation standards. The County will prepare a rehabilitation work write-up and rehabilitate acquired properties. Whenever possible, local contractors will be utilized, including those in the vicinity of the areas of greatest need. Still, the target areas are very small and residential, and the possibility of hiring contractors located in the target areas may be difficult. Contractors will be selected through a competitive process. The work write-up and rehabilitation will include energy efficiency and green building standards.
Much of the funding will be used to help qualified home buyers with down payment and closing cost assistance and financing for rehabilitation assistance to purchasers of NSP3 properties. The funds will be available to applicants who meet income and other qualifications and intend to purchase or rehabilitate homes within select neighborhoods in Apache Junction, Coolidge and Casa Grande. So contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor today!
Interested homebuyers may apply at the Pinal County Housing & Community Development Department office and should contact Jessica Sulliman, Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a qualifying home.
To learn more about the specific income and financing prerequisites, please contact the Pinal County Housing & Community Development Department office, Monday through Friday from 8:00 AM to Noon or by phone at 520-866-7203. The office is located at 970 North Eleven Mile Corner Road, Casa Grande, AZ.
NSP3 Program
970 North Eleven Mile Corner Road
Casa Grande, AZ 85194
Email your comments to: patricia.farnworth@pinalcountyaz.gov
Phone: 520-866-7234
Click here to down the application
Pinal County has received $3,168,315 in federal Neighborhood Stabilization Program (NSP3) funds. These are funds made available through the U.S. Housing & Urban Development (HUD) Program’s Neighborhood Stabilization Program. The program provides targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties. This will meet the HUD objective of stabilizing neighborhoods in Apache Junction, Coolidge and Casa Grande damaged by foreclosure, vacancy or abandoned properties.
The County will be using its $3.17 million allocation to address foreclosure issues in four “areas of greatest need” that meet strict criteria outlined by the HUD grant program. The areas chosen are select neighborhoods within the cities of Apache Junction, Coolidge and Casa Grande. The areas were chosen based on criteria set forth by the NSP3 program as well as input from municipal employees within the county. Contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a home in these qualifying areas!
Adeline Allen, Pinal County Housing and Community Development Director, explained that selecting areas of focus was made difficult by the limitations imposed on use of the funds.
*All buyers shall receive a minimum of 8 hours of HUD-certified homebuyer counseling and education through a HUD-certified housing counseling agency. Prior to receiving NSP3 assistance, buyers will be required to provide a certificate of completion from a HUD-certified agency.
* All buyers must contribute the greater of 1% of the purchase price or $1,000 from their own funds.
Down Payment Assistance
Pinal County will provide down payment assistance equal to 20% of the property purchase price. Buyers, who must owner occupy purchased units, may acquire 30-year, fixed-rate financing through a lender of their choice. Financing shall be based on qualifying ratios not to exceed 31/43. NSP3 down payment assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any down payment assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Closing Cost Assistance
Income Level 1 buyers (households with incomes below 80% of the County median income) shall receive closing cost assistance up to $5,000, not to exceed actual closing costs. NSP3 closing cost assistance shall be in the form of a 0% loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of any closing cost assistance upon resale or noncompliance with any terms of the deed of trust during the affordability period.
Rehabilitation Assistance
Pinal County will provide up to $25,000 in rehabilitation assistance to purchasers of NSP3 properties. The actual amount of rehabilitation assistance will be based on a pre-purchase inspection, work write-up and cost estimate prepared in accordance with the County’s Rehabilitation Standards. Rehabilitation assistance shall be in the form of a 0% forgivable loan, secured by a promissory note and deed of trust executed by the County. The promissory note and deed of trust shall require repayment of the total amount of the principal balance upon resale or noncompliance with any terms of the deed of trust during the affordability period. Properties will be evaluated for rehabilitation and brought into compliance with the County’s rehabilitation standards. The County will prepare a rehabilitation work write-up and rehabilitate acquired properties. Whenever possible, local contractors will be utilized, including those in the vicinity of the areas of greatest need. Still, the target areas are very small and residential, and the possibility of hiring contractors located in the target areas may be difficult. Contractors will be selected through a competitive process. The work write-up and rehabilitation will include energy efficiency and green building standards.
Much of the funding will be used to help qualified home buyers with down payment and closing cost assistance and financing for rehabilitation assistance to purchasers of NSP3 properties. The funds will be available to applicants who meet income and other qualifications and intend to purchase or rehabilitate homes within select neighborhoods in Apache Junction, Coolidge and Casa Grande. So contact Jessica Sulliman, your Pinal County and Apache Junction, Coolidge and Casa Grande Realtor today!
Interested homebuyers may apply at the Pinal County Housing & Community Development Department office and should contact Jessica Sulliman, Pinal County and Apache Junction, Coolidge and Casa Grande Realtor to find a qualifying home.
To learn more about the specific income and financing prerequisites, please contact the Pinal County Housing & Community Development Department office, Monday through Friday from 8:00 AM to Noon or by phone at 520-866-7203. The office is located at 970 North Eleven Mile Corner Road, Casa Grande, AZ.
NSP3 Program
970 North Eleven Mile Corner Road
Casa Grande, AZ 85194
Email your comments to: patricia.farnworth@pinalcountyaz.gov
Phone: 520-866-7234
Click here to down the application
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