Phoenix’s $15,000 incentive for home buyers purchasing a bank owned home.

Yes , you can purchase a home and get money for doing...The City of Phoenix is offering this program... This is true but not as easy as it may seem.

The $15,000 is a loan that must be repaid when the home is sold or refinanced. So...yes,you can purchase that home and pay the money back later.

The money only can be used toward down payments and closing costs. The home needs to be within Phoenix city limits, it must be a bank-owned home, the buyer must qualify for the loan according to FHA guidelines and you must take an 8 hour credit counseling class. The home must be more than 15% below appraised value of the home and then there are income restrictions, inspection, and disclosure requirements among other things.

At first I thought it sounded pretty darn good and then I started thinking about it... I am in trouble NOW!!! Thats what I have been doing all year. I have sold all Bank Owned and all were 10%-17% below list price and appraisal .. asking for closing cost no brainier, was no big deal at all..MMMMM

I dont know where I am going with this yet...BUT... If you would like more information about this 15,000 program give me a jingle Linda 602-391-8246
I do need to do a little more research...

NSP Homeownership Fact Sheet

Charming Historic bungalow in Coronado

2322 N EDGEMERE ST Phoenix, AZ 85006
WOW- great starter in Coronaado!!!!


Large remodeled kitchen w/large island overlooking open great room with French doors leading to private patio & yard w/canopy of mesquite trees. Kitchen has upgraded cabinetry,and tons of storage.Close to downtown Phoenix. This property is to be sold AS IS & is lender owned.

Call To view your new home!
Linda Wieczorek
602-391-8246 or email AZhomes4u@gmail.com

Willo Historic Real estate

530 W PALM LN Phoenix, AZ 85003 $334,000


Considered one of the most preferred streets in the Willo District! This not so little house is charming like a cottage, but is almost 1800 square feet. Inviting front porch leads into the living room with beautiful wood floors and a brick fireplace. Formal dining room and large family room with a second fireplace are great for entertaining. The eat in kitchen has a modern feel w/SS appliances and a charming built in wine rack. Bathrooms have been tastefully remodeled, and there are warm designer colors through out the home. French doors lead to the covered travertine patio overlooking the large lawn in the private back yard. Inside Laundry! Two car detached garage with plenty of storage. An awesome value in Willo! Not bank owned or a short sale!

Interested in viewing this HOME? Give a jingle or send me an e-mail.

Linda Wieczorek
602-391-8246
AZhomes4u@gmail.com

Deal in the Willow

Does it get any better then this?
67 W CAMBRIDGE AVE Phoenix, AZ 85003 $150,000


Transitional ranch home in the Prestigious Willo Historic District with some great mid-century features. Home is in dire need of rehab. To be sold in AS IS condition, Seller is unable to make repairs. Home will need major overhaul to be liveable. Quiet street on cul-de-sac very close to all of mid -town and down town's amenities. Must have vision as to what this house could be.

Interested in viewing? This one will go fast...
Linda Wiecorek
602-391-8246
Arizona Elite Properties
azhomes4u@gmail.com

18 Really good reasons to bank on the future of the Phoenix area real estate market:

18 Really good reasons to bank on the future of the Phoenix area real estate market:

1. The migration from the Snow Belt states to Metropolitan Phoenix has been unabated for 60 years.
2. A similar extended migration is now occurring from the Northwestern states and Western Canada.
3. The “installed base” of all those migrants brings a steady stream of extended family members.
4. Proposition 13 makes moving up difficult in California; many Golden State sellers buy in the Phoenix area.
5. Californians in pursuit of other objectives — e.g., a friendlier business climate — migrate to the Valley of the Sun.
6. Baby Boomers will retire in droves to warmer climes — the Atlantic coast, the Gulf states and the Southwest.
Among those locales, Phoenix is by far the least prone to natural disasters.
Because of this, people from disaster-afflicted regions have formed a new stream of in-migration.
7. There is a steady migration of new residents from Spanish- and Portuguese-speaking countries south of the border.
8. Phoenix is a destination of choice or the second-landing city for immigrants from all over the world.
9. While higher oil prices will put a strain on our far-flung suburbs, the greatest pain will be felt in Northern states where fuel oil or natural gas are used as heat sources; even people who don’t hate the winter will move to the Phoenix area to escape high heating bills.
10. The Phoenix Metropolitan area is a dynamic jobs creation machine, adding tens of thousand of new jobs every year.
11. People who have or hope to have children move here as soon as they can manage it. Compared to the areas from which many of our in-migrants are drawn, our homes are still very affordable.
12. We build thousands more new homes every year.
13. The Greater Phoenix area has 60 years of sustained practice at managing extreme growth — this in contrast to thrashing cities like Las Vegas.
14. Snowbirds, politely known as Our Winter Visitors, eventually move here year-around.
15. Our first waves of massive migration occurred after WW II; mustered out soldiers who had been stationed here came back with their families; this pattern continues among people who are posted here temporarily for various reasons.
16. People who stay at our resorts often fall in love with the Valley of the Sun and return as soon as they are able.
17. A significant number of active and retired professional athletes maintain homes here, in no small part because the Phoenix/Scottsdale area has…
Year-around golf.
18. It could be there’s too much sun here for congenital cellar-dwellers — but that’s a good thing!
Go Arnold... CA taxed are high...

Will the market conditions continue or will they change?

A little sun or more thunder in this housing market?





Some slowing in foreclosure activity may be seen in the coming months as programs designed to make it easier for distressed homeowners to modify their mortgages ramp up. But, according to ASU’s Realty Studies, “with the extremely weak economy the ability to maintain ownership or to purchase a home will continue to be severely tested, which will further delay any potential recovery.”

What are the bright spots in the Greater Phoenix real estate market?

Median prices fell across the Valley in January, but the declines were less dramatic in some cities. In month-over-month declines (between December 2008 and January 2009) in Gilbert and Chandler, prices fell 1.4% to $197,250 and $204,000, respectively. In year-over-year declines (between January 2008 and January 2009), prices again fell across the Valley, but declines were the least dramatic in Tempe (15.6% compared to Maricopa County’s 39.9%).

The number of homes sold was down across the Valley in January compared to December, but the volume of sales still far outpaced January 2008 – 114.6% more homes were sold in Phoenix in January 2009; that number was 48.3% for Mesa and 33.3% for Gilbert.

What’s happening in the Greater Phoenix condo market?

The number of townhouses and condos resold in Maricopa County fell 15.2% in January to 615 homes (after increasing 27.2% in December). Sales were down in most Valley cities; the most moderate decline was in Phoenix, where sales fell 4.1%. The largest decline was in Tempe, where sales fell 50%.

Median prices fell overall, too, down 11.3% in January compared to December (after increasing 3.1% in December). The smallest declines were in Scottsdale (2.5%) and Gilbert (2.0%). The largest were in Chandler (22.6%) and Mesa (20.4%).

Foreclosed townhomes and condos represented a good deal for buyers in Maricopa County overall, with prices 16.2% lower than on traditionally-sold homes. The best deals in January were found in Gilbert, where the price difference

Greater Phoenix Area January Real Estate Market UpdatePosted

A snapshot of what went on in the Phoenix area real estate market in January.

What specifically happened last month/quarter in this market?

A total of 6,960 resale homes sold in Maricopa County in January, down 6.3% from December but still 65.5% higher than in January 2008. Of the homes sold, 48% were foreclosures (up from 42% in December). Comparatively, in January 2008, 43% of homes resold were foreclosures.

The relatively high number of foreclosures – and the ever-weaker economy ¬– continued to put downward pressure on prices, which fell 8.0% (the same as December’s decline). The median price of $135,335 is 39.9% lower than the median price in January 2008.

Foreclosed homes represented a good deal for buyers across the Valley – particularly in Tempe and Chandler, where the median price of a foreclosed home was 20% and 16% less than the price of a traditionally-sold home, respectively.