One of the most common questions that I get once a buyer’s contract is accepted is, “What happens next?” My short answer is that “It’s crazy upfront, quiet in the middle, and then gets busy again before closing.” Basically (in a typical Arizona home sale): Escrow is opened. The buyer’s earnest deposit check is deposited [...]
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home buyer
We currently have quite a few bank-owned properties listed for sale. This past week, the seller announced that they besides accepting pre-qualification letters from Wells Fargo and Wachovia, they will also accept Neighborhood Assistance Corporation of America (NACA). This was the first I’ve heard of the Neighborhood Assistance Corporation before, so did a little homework [...]
A couple weeks ago I spotted an interesting trend on one of the charts at the Cromford Report. You can see on the chart below that investors have been purchasing an increasingly larger percentage of single family homes over the past several months, to the point that they are on the verge catching up to (and potentially [...]
credit: Dru Bloomfield – At Home in Scottsdale and Altos Research In looking through the Altos Research charts for Scottsdale real estate today, you can see we have headed into another downturn in the market over the last several weeks. The Altos Market Action Index shows slowing in all Scottsdale markets, across all zip codes. My suspicion is [...]
The First Time Home Buyer Tax Credit has been around for a couple of months, but I’ve not really written about it: Paul Wakefield, with Security Mortgage, emailed me his weekly update this morning, with the details and an example, so I decided it was time to share: A reminder about the HR 3221 First [...]
I love it when I come across something new (to me) that will save home buyers money! While financing for buyers with large down payments still seems to be sliding through the mortgage machine, first-time home buyers and other with less that 20% down are having to be even more diligent in their financing search. [...]
