Home Sales Up for 3rd Month in a Row

Home sales are up for the 3rd Month in a row. This has not happened since the buying frenzy of 2005. Read the complete story ...http://finance.yahoo.com/real-estate/article/107398/home-sales-all-over-the-map.html?mod=realestate-sell

My commentary:

Home sales and pendings set an AZ historic record in May only to be exceeded in June with over 18,000 transactions. Homes priced under $350,000 are now a Seller's market. The further down you go to $100,000 or under the more of a Seller's market it is.

Home sellers, don't start beating your chest just yet!!! Bank foreclosures and Short Sales make up 30% of the total market but are getting over 75% of the sales. Regular home sellers are being ignored. Buyers are driving right past you to get that Foreclosure or Short Sale deal. Many more Foreclosures will be released to the market soon, after they find enough Realtors to handle them.

What do you do if you must sell?? Go into Foreclosure yourself?? There is an answer. My exclusive "Sold in a Week" marketing program. You can have your home sold in one weekend whether you hire a Realtor or do it yourself. It is a complete marketing package with all the forms, signs, web site, advertising copy, and coaching that you will ever need to sell your home over a weekend. Did I mention that you do not need a Realtor??

Get more information now at www.AzSoldinaWeek.com or call (602) 214-1166 for your information package today.

Maxine Waters Tries to Get Loans Modified but Gets the Brush Off from Banks

Don't try this at home folks. As this newscast showed, US Congresswoman Maxine Waters was brushed off by Banks when she , an Attorney and US Congresswoman, tried to help 3 families avoid foreclosure on their homes.

If you are facing Foreclosure and may lose your home, get a licensed experienced professional that knows the ropes to help you. We have helped over 100 home owners avoid Foreclosure and an 85% success rate. Most Attorneys and Real Estate agents are only about 20% successful according to MLS data. We don't charge large upfront fees.

Contact us for a confidential interview at www.Pomisel.com

Tough Housing Market Complicates Divorce

by Elizabeth Razzi Friday, August 15, 2008
provided by BankRate.com

Divorce is rarely an easy process. But falling home values and sluggish real estate sales are combining to make it particularly difficult right now.Couples aren't fighting over who gets to keep the house. They're scrambling to get away from the burden of it.

It's too soon to see the trend reflected in official statistics; the most recent marriage and divorce numbers compiled by the National Center for Health Statistics date back to 2005 -- just when real estate markets started to turn down from their boom years.
Read more...

"Richard says..."

This is a tough one on several levels but I will stick to the Real Estate issues. I am not Dr. Phil or Jerry Springer, which ever way things are working or not working out. If you are married and bought together in AZ it is usually community property. If you had a committed relationship and had purchased together with both names on the loan and deed, there were different ways to take Title. (Consult a qualified attorney for answers to your specific situation)

If one of you can keep the home and buy out the other with a promissory note and make payments to the other party, that is one option. You could rent it out or get a boarder for a while to help with the payments.

With the promissory note, it could be arranged through a Title Company with an escrow account. The advantages are that the ownership interest of the party that moved out and is receiving payments will be recorded and records will be kept. The parties never have to meet or mail a check directly to the other. When the other party is fully paid off, the quit claim deed is executed and recorded. The house was not sold and both parties benefited from it and did not have credit issues from a forced sale of the home.

Option 2 is to sell the house somehow. You may have to actually pay a check at closing to clear you existing mortgage loan, especially if there is no equity. There is the Short Sale option, which means that real financial hardship must be proved to the lender with financial statements, tax returns, budget records and more. A qualified Realtor that is experienced in Short Sales may be a valuable asset here.

Option 3 is to let it go into Foreclosure. That will greatly harm both party's credit scores and seriously hamper both financially in starting over. Give it careful thought here. Option 1 may work the best. Selling a home normally is an expensive proposition taking up as much as 11% of the Sale Price. That money could be put to better use in your respective pockets to assist both parties in moving on and rebuilding their lives.

To help you know what questions you should ask and how to arrive at the right answer for your specific situation, a FREE special report has been prepared by industry experts entitled "Divorce: What You Need to Know About Your House, Your Home Loan and Taxes". Read it today.

Do you need help in finding a more affordable home? When you are buying a home, having current and accurate knowledge of what area homes are listed for is important. Our best buy service enables you to get priority access to the hottest new listings so you can beat out other buyers and negotiate to get the most home for the least amount of money.

Are you interested in learning more about buying homes that are Short Sales or Foreclosures? Distress Sales resulting from bank foreclosures, short sales, court orders, and probate often represent a great way to get a fantastic deal on a home.

It's not easy for the average homeowner to find these deals, because you have to keep scouring the paper and the Internet to see when one comes up. Or you can pay a huge monthly fee to an expensive foreclosure subscription service and receive the same property lists as hundreds of others.

When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the market, in the price range and area that interests you. This FREE, no obligation service, "Foreclosure Weekly Report" will save you a lot of research and running around.

That's all for now. I welcome you posting any questions or comments about this and any other articles on my Blog.

Have a Great Day,

Richard

Living Near Light Rail Can Be Shrewd Investment

Living near ( within 3 blocks) on either side of the Light Rail System may be a shrewd investment even in the current market downturn. The negative sales statistics in the media have disheartened many home sellers and buyers alike. The stats are a very broad survey of a very large area, this "Valley of the Sun".

There are neighborhoods that are holding and even increasing in value. This is one area that is attracting hugh investment. Why not buy a home or condo within 2 to 3 blocks of the Light Rail System in an upwardly moving neighborhood? That's the way people make money in Real Estate.

It is important to research your market position if you are planning to sell. It must be a specific study of your neighborhood. You may be in one of the good areas. If not, then you definately know where you stand and what effective strategies may get you the most money for your area.

For buyer's, they too must do their homework. A home may be very low priced. Why is that? What are the prices in the neighborhood? Is it a desirable place to live? Are the schools good? Even if you do not have children, the school's quality is very important. A good school system will improve your future sale position if you sell later on down the road. Where do you want to live?

Read more about the impact of the Light Rail System on business and Real Estate in a recent article in the AZ Republic.

Post your comment in this issue?

Best regards,
Richard Pomisel, e-Pro, GRI
Richard@Pomisel.com
1(800)474-2841 Toll-Free

Smaller Home Price Spread Suggests Rebound

The shrinking spread between buyers' and sellers' expectations is a sign the housing market is correcting, and a rebound almost always follows a correction, particularly in the Valley. AZ Republic, Catherine Reagor. Read more...

As I have said in the past, Phoenix is a different market than anywhere else in the USA. We still have a large influx of people into this State. For every 2.5 people, one home is needed. The surplus will burn off faster than anywhere else. If you are buying, now is the time to make your move ahead of the pack. You will get a GREAT DEAL especially if you are planning to live in your new home for 4 or more years.

Financing is still relatively easily obtainable for good rates on fixed interest loans. Now is the time to have your credit checked by a lender. You will then know absolutely where you stand with no surprizes. This goes for everyone, even those that think they have no credit issues. There have been many instances of negative entries on the wrong person. When this occurs, it takes time to correct. The time to get your ducks in a row is now.
Get your FREE report " The Three Point Plan to Getting the Best Financing"

Best regards,

Richard

How to Entice Home Buyers in Today's Market

How to Entice Home Buyers in Today's Market - To sell your home today, the stars have to align favorably in the sky and you need to provide buyers with the right incentives.

Get your Free report "Get the Highest Price You Can When You Sell Your Home", click here

Need advice from a professional on your situation? Click here or call me at 1(800)474-2841

What is your opinion? I want to know.

Best regards,
Richard

On the Web at : http://www.pomisel.com/

Toll free: 1(800)474-2841