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Lisa Murray

Oh Canada!

10-06-08
Lisa Murray

There has never been a better time to buy real estate in Arizona! There is an unbelievable selection and prices are back to about 2003-2004! There are many reasons to buy real estate in the United States. If you're Canadian, parity of the two currencies (USD and CD) could be one of them. While I'm not going to make a recommendation on the wisdom of purchasing real estate in Arizona, I would like to inform you of what you might expect when financing a home as a foreign national. If you are considering a second (vacation) home in the United States the terms are a bit more favorable for you. The following is a list of requirements you can expect when obtaining financing:

1. Copies of passport and visa.
2. Last two pay stubs.
3. Last two bank statements.
4. Last two years tax returns. If self employed, a letter from an accountant stating how many years you've been in business, and business tax returns.
5. Verification of 2 years employment history.
6. International credit report - lender will order.
7. Set up American bank account for transfer of money.
8. Generally, the lender will require 25% to 35% down payment.

Of course, it wouldn't hurt to have a great real estate agent! For additional information on Fountain Hills real estate or any other communities you can contact me direct at 602.400.0250 or email me at Lisa@ISellFountainHillsAZ.com.

Government Bailout!

09-21-08
Lisa Murray

Well, we are certainly going through some interesting times. Personally, I find myself glued to the television as if it were 9/11 all over again! I don't think there was much choice in the matter. Something had to be done or there would be no more money to lend. Only time will tell how this will all shake out. I've heard that there are currently 10,000,000 distressed homeowners that are either currently in foreclosure or in default on their mortgage. The upside of that is that there are plenty of great buying opportunities for you! It seems that everyone has an opinion on this hot topic... I look forward to hearing yours. If you have any questions or comments on the Fountain Hills or Phoenix real estate market, give me a call. Lisa Murray - 602.400.0250 or send me an email at Lisa@ISellFountainHillsAZ.com.