Trust Your Realtor® To Refer A Mortgage Lender

Wouldn't it be great if we had a money tree we could go to when wanting to purchase a home? The 18 inch high stack of paperwork to sign before closing would be reduced to a few pages. It might take a week  for the sale to finalize instead of the 30-45 day close of escrow that is required when financing a transaction. Most of us don't have the resources to pay cash for a home and a mortgage lender is a large part of a successful home purchase. Read on to find out why you should trust your … [Read more...]

Buyers And Sellers Can Avoid The Dreaded “Fall Out Of Escrow”

"Derailed" , "Gone South", "Fell Out", "Crashed and Burned" - there are lots of ways to describe a home sale that falls apart before it gets to the finish line. I am seeing an increase in deals that don't make it to the closing table. Buyers and Sellers can become frustrated by investments of time, money and emotion in a process that doesn't result in a win and can put them weeks behind in achieving their goals. There are things both buyers and sellers can do to keep a sale on track and avoid … [Read more...]

Campaign Promises can ‘TRUMP” Arizona’s Real Estate Market?

Well, the election is over and many are curious to know if 2016 campaign promises will "trump" Arizona's real estate market. Some of you are elated with the results, and many lie somewhere between anxious and terrified about what the future will bring. As far as campaign promises go, there are three in particular that could have a significant impact on the  housing market according to Tina Tambour of the Cromford Report. Trump promises to deport millions of undocumented immigrants The … [Read more...]

Housing Affordability in Metro Phoenix

The Housing Affordability Index (HAI) is a measure of housing affordability for a family with a household income typical for a region. A value of 100 means that a family earning the median income for that area has just enough income to purchase a median priced home and handle the monthly mortgage payment. The higher that number goes, the more affordable home ownership is in that area. In an area rated with a 130 HAI, for example, a family earning the median income has 130% of the income … [Read more...]

Pathway to Purchase Increases Purchasing Power

  The Pathway to Purchase program increases purchasing power to homebuyers interested in certain cities in the valley. Those eligible will get a real boost to their bottom line in areas that experienced high rates of foreclosure during the housing recession. Buyers with a credit score of at least 640, earning less than $89,088 annually, could be eligible for downpayment assistance equal to 10% of their loan amount up to $20,000 in the following cities: Arizona City, Avondale, … [Read more...]

October rollout of TRID: Don’t Let It Scare You Out Of Buying A Home

If you have a pulse, you've probably heard about changes to the mortgage approval process that may be making you wonder if it's become too difficult to purchase a home. Especially with some lenders and real estate agents quaking in their boots about the changes and "government intervention" it's easy to feel like there are too many forces working against  you. The fact is that the TRID changes were designed to, and in fact DO simplify the disclosures that you as a buyer must read, and make the … [Read more...]