Kim Anderson

In Phoenix there seems to be alot of confusion for homeowners with VA loans as to whether or not they can do a short sale. The answer is yes. I just recently assisted two homeowners, with VA loans, in the Greater Phoenix area, complete short sales. Those homeowners have now avoided foreclosure and they should be able to buy a home again in two years if they rebuild their credit during those two years.

I believe part of the confusion lies in the VA guarantee; homeowners think they have to pay that money back. In most cases the money does not have to be paid back; it is forgiven through the VA short sale process. However, a VA eligible borrower will not be able to use their VA eligibility to buy another home until any deficiency is paid back. But, there is nothing stopping that borrower from getting an FHA or conventional loan for the purchase of real estate after the two year period, providing the buyer has effectively rebuilt his or her credit.

A homeowner does need to prove a valid hardship, and a military transfer or deployment is a valid hardship if your home is worth less than what you owe on it and as a result, you cannot sell.

The best thing to do is simply give me a call and we will discuss your lending structure, hardship and home value, and then call your loan servicer to confirm required paperwork and eligibility for a short sale. You must ALWAYS be aware of ALL your options before committing to a strategy.

I was speaking with a tenant that was living in a home that one of my clients just purchased in Glendale. She had expressed to me that she wished she could purchase a home and specifically the home they were renting. She told me that she thought her credit score was over 700 but didn't think she could get a loan because of job history and no large down payment.

I let her know that FHA loan financing allows a person to go to school for one year and have it count as job history. This person had worked before she went to school and already had job offers for when she graduated. So she won't have job history issues. I also reminder her that FHA only required 3.5% down payment and closing costs could be rolled into loan. On a $100,000 purchase that is only $3,500 down and with rates where they are at, they payment would be about $400 less that their rent payment.

There is still other factors to consider, but the moral of this story is that I realized how many people operate off of a lack of information or bad information. I speak to so many people who believe you need 20% down to buy a home these days. I realize that as real estate professionals, we have to continue to reach out and educate so those who desire home ownership truly know what their options are.

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Kimberly Anderson, Designated Broker
Guardian Realty & Investment Group
cell - 480.201.4185
fax - 480-287-9354
www.TheGRTeam.com

Del Webb has added 3 new single level floorplans at Fireside at Desert Ridge. Previous to these floorplans, Fireside at Desert Ridge has only had two-story homes.

These new floorplans range in size from 2,001 square feet to 2,354 square feet and start in high $300's.

Here are the new plans:

• The Cottonwood at $379,990 - 3 bedrooms and 2 baths with walk-in closets in all bedrooms. Great room, dining room, kitchen with nook, 3-car tandem garage and 2,001 square feet
• The Willow at $389,990 - 3 bedrooms and 2 baths with walk-in closets in all bedrooms. Great room, den, 3 car tandem garage and 2,188 square feet
• The Juniper at $399,990 - 3 bedrooms and 2 baths, walk-in closets in all bedrooms. Great room, living room, dining room with nook, 3 car tandem garage and 2,364 square feet.

These are a great addition to a nice community. Let me know if you would like more information or would like me to arrange a model home tour.

As a real estate broker, one of the most exciting things is finding a good deal for a buyer and selling a property quickly and at a good price for a seller. After all, that is the name of the game and why people hire realtors.

Traditionally we did this by putting signs in the yard, adding the property to the MLS, sitting an open house and putting and ad in the newspaper. Now with the explosion of social media, blogging and other online marketing avenues, we have the ability to reach a much larger buyer base faster than ever. We also have the ability to build strong relationships with buyers and sellers in a way we never used too.

THIS is what keeps me awake at night. I am passionate about utilizing all the tools available to real estate professionals to market real estate and match buyers and sellers to create win-win solutions.

On HomeBuyerOutlet.com you will find properties before they hit the market – as a preferred buyer, you can find these deals first. Many of my sellers are investors who may be able to offer special terms to help a buyer into a property, like a lease option or seller financing. Or if you are an investor, I may have a great rehab property for you. We are also attracting banks who want to utilize us to market their properties they foreclosed on.

I also work with some of the best short sale investors in the state. My relationship with them allows me to market short sales right as they are being approved by the bank. This means GREAT deals to buyers without the wait! That is double fun as we put a buyer into a home and save a seller from foreclosure.

The other cool thing is we have all kinds of deals large and small. We have homes for first time homebuyers and entire subdivisions that have been foreclosed on. We have raw land, improved lots, commercial and residential. I encourage you to join our email list to be the first to find these deals.

I look forward to meeting you – even if just by email!

Kim Anderson, Designated Broker – Guardian Realty & Investment Group, LLC