Kim Anderson Phoenix, AZ

With mortgage rates dropping and the phoenix real estate market clearly reaching a bottom in many areas, I am strongly encouraging home buyers to take the plunge and buy. Of course this will be an individual decision for each home buyer, but here are 5 reasons why it may be the right time to buy now vs. waiting another 6-12 months.

1. Mortgage rates today are 5.274% for a 30 year fixed mortgage. Mortgage rates have been over 6% for most of the past 2 years. This will save your monthly and lower the total interest you pay over your loan term.
2. Homes are affordable again. Affordability is as high as it has been since 2003. The housing boom priced many people out of the housing market, but now there are clearly homes that are in line with the average family median income in Phoenix.
3. First time home buyers will receive a $7,500 tax credit if they purchase a home before July 1, 2009. In this program, a first time home buyer is defined as someone who has not owned a home in the last 3 years. You can view all of the guidelines for the tax credit by clicking here.
4. FHA down payment requirements will increase from 3% to 3.5% on January 1st, 2009 and FHA loan limits will decrease from $346,250 to $271,050 in Maricopa and Pinal counties. With FHA being one of the lowest down payment options, someone who is interested in a home more than $271,050 may want to secure a hone this month.
5. Housing inventory is shrinking and days on market are falling, both indicators of a recovery. While we do have a long road ahead due to the economy, these indicators do reflect that in many areas we are at or close to bottom. Owning a home is very gratifying and trying to time an exact bottom of a market is challenging. One must consider other factors that make home buying a good decision; tax savings, low mortgage rates, payments going towards equity vs. rent, future appreciation and the comfort of having your own home.

If you would like to sit down and talk about whether or not it is a good time for you to buy now, please give me a call at 480.201.4185. I would to review the pros and cons for you and show you what is possible.

~Kim

Ready To Sell You Your Slice Of The Arizona Sunshine!

Montevista by Toll Brothers is a new gated master planned community at Dixileta and 54th St. If you are familiar with the Toll Brothers community Aviano at Desert Ridge, then you will be familiar with many of the floorplans at Montevista. They have many of the same plans and series.

In total there are 5 series and 25 floorplans to choose from. Each series is located in the same area of the subdivision so there is a common theme in that area. Entry level base pricing at Montevista is $592,995. Both the Strada in the Ocotillo collection and the Borrego in the Palo Verde collection start at $592,995. The Strada is a 2 story plan and is 3,294 square feet. A two car garage is standard with this plan. The Borrego is also a 2 story plan and is 2,991 square feet. A split 3 car garage is standard with this plan.

The Desert Willow collection features homes from 3,150 - 4,369 square feet and prices in this collection range from $662,995 - $789,995. The Cottonwood collection has homes ranging from 3,402 - 4,639 square feet. Prices in this collection range from $725,995 - $784,995.

In 2009 the Cypress collection will be released. These are the largest plans available and will be situated on 1/2 acre lots. The square foot range for this series will be 4,060 - 5,125 square feet. Prices for this collection have not been released yet.

Montevista consists of 302 homesites on 160 acres and includes a 5 acre park in the center of the community. The community also includes 3 gated entrances, natural desert washes, walking and biking trails and children’s play area. Monthly dues are approximately $150 per month and include street and gate maintenance, common area maintenance and home security monitoring.

If you would like more information on these homes or would like to tour these homes, feel free to contact me. I can help you navigate through all the options, plans, financing and selections. I encourage you to be represented by a licensed professional when you walk into a new home community. I feel it is important to have a professional as your advocate as you make your decisions to purchase your next home.

~Kim

Ready To Sell You Your Slice Of The Arizona Sunshine!

CityCenter CityNorth AZ, the much anticipated development in North Phoenix is celebrating the Grand Opening of High Street - Blockparty style! CityNorth refers to their project as a New City Rising and if you live in the area, that is what it definitely feels like.

CityNorth is designed to unite the best in city living, shopping, dining and working. The Blockparty is from 5-9pm tonight, November 13th. Subsequent events will be held through the weekend. You can go to the City North Block Party website for more details.

Join the party to tonight with live bands, food & drink, street performs, mariachi’s, clowns, sales & special offers, raffle prizes and a special Circle of Life exhibit presented by Disney’s The Lion King and The Phoenix Zoo.

Hope to see you at the party!

100% financing is alive and well! It does have some limitations, but I have 3 listings that qualify for 100% financing. The folks at Sun State Homes Loans are doing a good job of helping buyers secure these loans that require no down payment. A full explanation of the program can be found here, Affordable100.com.

If you have heard that 100% financing does not exist anymore, that is the case is many instances. As with any other program this program has criteria that must be met. These loans are for designated areas that are more rural; places like Buckeye, Maricopa, Casa Grande, Coolidge and Queen Creek. As the borrower, you must have a 580 score or greater. All the criteria is listed on the website.

I currently have 3 properties that qualify, here is a sample of one:

23418 W. Pima, Buckeye - $119,900

5/3, 2 CG, 2154 sf, Built in 2004

Zero Down, Est. Payment $1068.20*

If you would like more information about these properties, give me a call or send me an email. They are also listed in my Featured Properties section so you can review more pictures and details. If you have questions about whether or not you would qualify for this program, I encourage you to go to Affordable100.com and apply on the website.

* Monthly Payment is an estimate only and are subject to buyer qualification and rates and confirmation of taxes & insurance amounts.

- Kim

Ready To Sell You Your Slice of the Arizona Sunshin

If you want to live in Aviano at Desert Ridge, but don’t know if you can afford, well here are the 5 least expensive homes in Aviano. I don’t necessarily call these the “best” deals in Aviano because there is more to a “deal” than just price. If the home is a little bit more expensive but does not need extensive work, then that home may be a better value. However, if price is all that matters and you want to see if you can buy in this fabulous Toll Brothers community, then lets take a look at these 5 homes. Click on the image for a larger view.

The Strada on Crest Lane is a short sale and is down to $475k. This is only a 2 car garage but does have a nicely landscaped backyard and spool. I believe the listings agents are close to an approval on this. Probably a decent short sale to write an offer on as I don’t think it would take as long as some short sales.

The Velez on 39th Way is very “vanilla” and it backs to 40th st. However, the price is right at $135 per square foot. Good opportunity if you want to live in Aviano.

The Borrega on Herrera is a nice home and has just been reduced by $10k. This home backs to an interior rd, Lockwood, but that is not too big of a deal. This home has some nice flooring upgrades and landscaped backyard with built-in BBQ.

The LaBella on Crest lane came back on the market at $525,000. This is a nice home and a good opportunity for someone with the patience for the short sale.

The San Benito on Crest lane is a nice home, but only 3 bedrooms, but does have a den. This home was on the market a year ago at $724,900. It came back on the market in April at $579,000 and is now reduced to $539,000. It does back to Rough Rider Rd. which is one of the main arteries through Aviano. It is next door to the larger Strada at $475,000. While that is a short sale, it is probably not helping the value of this home. This home is probably worth a good look if you like the plan.

For more information on any of these listings, drop me an email or feel free to call me at 480-201-4185.

-Kim

Ready to sell you your slice of the Arizona Sunshine!