Rent-to-Own

Phoenix Metro Area lenders are tightening their lending practices. It is increasingly more and more difficult for home buyers to get loans.

Now 100% loans, or ‘majority financing‘ is a very limited option, buyers and sellers have to be creative to get real estate transaction closed. It's is not like it use to be w/ all those 80/20 and No doc loans..There gone

There are 2 Rent-2-Own options that may work; The Lease-option and the Lease Purchase.
A common name you may here these referred to is “Rent-to-Own” .


I have to recommend that you do not attempt this without the advice of an experienced attorney and/or real estate professional.
I just rented a home out for an investor I work with and the couple renting the home told me that they lost $15,000 on a rent to own. The owner went into foreclosure. She had tears in her eyes, I felt so bad for the couple. This happends all the time.

Lease option - “contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance”

Lease Purchase - “a Lease to Purchase contract combines a basic lease contract with an option to purchase contract, which creates a Lease to Purchase contract.” The main difference being that the lease purchase contract, the Buyer is obligated to buy; if not, the buyer would likely be in breach.

Again, both contracts can provide language where a portion or all of the rent payments can go towards the purchase of the home. Thus, allowing the buyer to accumulate down payment to more easily obtain a loan.

Hire a real estate attorney or experienced real estate professionals who can prepare documents, explain and protect your interests.

If you would like more info on Rent-2-Own, lets do it the RIGHT way.
Give me a jingle 602-391-8246 Linda

Did YOU Know

Nearly one-quarter of first-time buyers are single females who purchased their first home on a median income of $47,400.


Women are not waiting around for their soul mate to show up to buy a home, they are going out and getting it on their own. According to The National Association of Realtors 2008 Profile of Home Buyers and Sellers, women are becoming the second largest group as homebuyers. In 2008, 2.0 million (23%) of single women were homebuyers due to higher divorce rates, delayed marriages and longer life expectancies. Women are also making more money giving them the income necessary to purchase a home.
Becoming more educated and financially stable has given single women the confidence to procure a home. They make sure to research and read every single line of an application or contract before purchasing a home. Females understand that homeownership will bring them tax benefits. They realized that buying a home is an investment that will benefit them in the future. Purchasing a home gives them a sense of security, economically, and a place to live when they retire. Since women understand that a good home investment brings equity, many of them are investing into buying a second home.

-Single females accounted for 13% of all second/vacation homebuyers in 2001/2003, according to the Realtors Profile.
-Single women purchased approximately one in five homes in 2003, while men purchased more than in 10.
-More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
-In 2001, the total homeownership rate was 67.8% overall, 49% for single mothers, 51.9% for single women without kids, 69% for single men with children; for racial and ethnic minority women overall, homeownership rate is only 35.5%. (2001 Census)
-Fannie Mae predicts that by 2010, women headed households are to increase to nearly 31 million-close to 28% of all households in the country.
If you would like more info on buying a home please contact Linda Wieczorek
Azhomes4u@gmail.com

ANNUAL WILLO HOME TOUR SUNDAY, FEBRUARY 8, 2009

The Willo district was selected as on of the nation's "Top 10 Cottage Communities" by Cottage Living Magazine in 2007.


The Willo Historic District Annual Home Tour will take place on Sunday, February 8th, 2009 from 10 a.m. to 4 p.m. This unique neighborhood tour features outstanding examples of Tudor, Spanish, and Bungalow style homes dating from the 1920’s through the 1940’s.

One of Phoenix’s most beautiful, and oldest historic neighborhoods, Willo is approximately west of Central Avenue between Thomas and McDowell Roads from 1st to 7th Avenues. Tickets can be purchased the day of the event at the neighborhood park at 3rd Avenue and Holly. Tickets are $15 the day of the tour. Presale tickets are $13.75 and can be purchased online now.
If you would like more info on the Willo and the Homes on TOUR Please contact
(Linda Wieczorek 602-391-8246 ) or azhomes4u@gmail.com



533 W ALMERIA $197,197





521 W Lewis AVE $275,000




78 W CYPRESS ST $292,600

Pro/Cons of Buying Foreclosures

Advantages of Buying Foreclosures:

Lots of homes to choose from

Aggressively priced.

The owner (the bank) really wants the homes


Banks are relatively swift in making an offer decision — often as quickly as a few days (in stark contrast to the weeks on end a short sale decision can take).

You will have an inspection period (typically 10 days 7 days for cash) after contract acceptance to have the home inspected. Cancellation in this inspection period is not difficult at all.

The bank is not emotionally attached to the home. This can make negotiations swifter — though there is typically little if any room in price negotiations.

Disadvantages of Buying Foreclosures:

No Repairs “as is” the bank will not do any repairs

Buyer competition — may be in a multiple bid situation. have to act fast

Condition may be an issue.

Phoenix 2009 real estate Predictions

I believe that the volume of sales will remain steady, or increase slightly, during the course of 2009. Here, in the Valley of the Sun, we have a great deal of affordable housing, which attracts out of state buyers, investors. If the economy remains constant, or improves slightly, there will be a commensurate increase in sales. Notice I said "increase in sales"- not increase in prices. Big distinction. I still believe that the majority of sales will be some kind of distress sale, i.e. REO's, short sales or people losing money personally to close the deal. However, it is absolutely vital for these properties to be absorbed into the market in order for normalcy. Whatever that may be, to eventually return.

So, is it going to be a good year, or a bad one? Well, it all depends on your perspective. For buyers, I think it will be all good--especially first-time buyers. For homeowners, who purchased in 2005 or later, who have to sell, there will be some degree of pain. For those who don't have to sell, or bought before 2004, it's a wash. Although, the growth they initially experienced has gone away, I think we will return to low single digit appreciation in late 2009, early 2010. Which will mean, as ever, that a home is always a good Long-Term investment.

So, if you are that 1st time home buyer, NOW is the time to buy.
Investors are cleaning up with positive cash flow on rentals.
Send me an email azhomes4u@gmail.com lets find a home.

More importantly than all of the above, however, is to stay healthy and enjoy life.

Green Renovations Will Help You Sell Your Home

With the challenges of selling a home in a declining market, a seller needs every advantage. Also, for those of you who are thinking you might sell in the next few years, here is some news you will want to take note of: Buyers are more attracted to “green homes”. Here are several survey results to prove the trend is real and here to stay.

1. In a recent survey by U.S. Green Building Council (USGBC) and McGraw-Hill Construction, the results show that interest in green-friendly renovations and building strategies are on the rise. Some of the findings:

Builders are finding it much easier to sell green homes than traditional homes in a down economy.
70% of buyers surveyed are more inclined to buy a green home.
Making homes greener is now the number one reason for home improvement (42 percent) over remodeling for comfort reasons (34 percent) or to improve appearance (24 percent).
2. A Better Homes and Gardens Real Estate survey found that consumers are well-informed about green homes (82%) and that 48% of homeowners would spend $2500 on green renovations, while about 1/3 would spend as much as $5000.

3. The American Institute of Architects Home Design Survey shows that business for residential architects has declined sharply, with the exception being home improvement architects. The emphasis is on home insulation technologies, while interest in alternative energy generation techniques and energy management systems is growing.

What are Green Homes? Green homes are defined by McGraw-Hill as those containing energy-efficient, indoor air quality, water-efficient, resource-efficient and site management features. To read more go to the Survey of Green Home Builders. If your home is on the market or you plan to put it on the market soon, check out some of the Green Homes websites, before you undergo any major renovations. You’ll find that often making some minor changes will make a big difference. If you are not thinking of selling anytime soon, then you have lots of time to do your research. Any time you need a new appliance, or need to make a repair, check out the green alternatives and give them serious consideration. When it is time to sell, no matter how many years from now, you won’t find yourself light years behind the latest money-saving technologies. Great places to start your search: The New American Dream, Green Home Swicki, (a swicki is a custom social search, on a topic of your choice), and the National Association of Home Builders.