Buenavante Lifestyle

Buenavante

May | June 2012

SPECIALIZING IN

Buenavante Real Estate

• Phoenix Business Journal ranks Kelly #11 in The Phoenix Business Journal Book of Lists out of more than 20,000 Real Estate Agents.

• Graduate Arizona State University 1983

Buenavante REAL ESTATE ACTIVITY IN

Kelly McLain Realtor

602.625.4653

mclainjk@aol.com www.kellymclain.com

Buenavante has certainly seen its share of activity in 2012. Currently five homes are under contract and eight homes have closed year-to-date. This time last year, four homes had closed year-to-date.

Only one home remains on the market in Buenavante. If you’re thinking of selling, now may be the best time in four years. Inventory remains at record lows, and homes are getting multiple offers. There

Know Your Rights It feels like the housing crisis has been around now for many years and in fact it really has. Now that we are seeing signs of recovery, it may be a good idea to know the rules regarding short sales, bankruptcy and foreclosures and the time frame in which a buyer can borrow again if they have experienced any of these in the past. Though perhaps none of these have happened to you, I am sure we all know someone who has experienced it and would benefit from the information.

SHORT SALE • FHA – 3 years from the short sale date, or immediately after the short sale if mortgage was current through the short sale process • Conventional – 2 years from the short sale date with 20% down, 4 years from the short sale date with 10% down, and 7 years from the short sale date with less than 10% down

is no doubt we will see another wave of bank-owned homes and short sales arriving on the market in

• VA – 2 years from the short sale date FORECLOSURE • FHA – 3 years from the date of foreclosure • Conventional – 7 years from the date of foreclosure • VA – 3 years from the date of foreclosure

the coming months. The summer selling season is upon us and the low inventory numbers will not last.

Sellers have one of the best opportunities to get their homes SOLD now. My last sale in Buenavante just closed a few weeks ago and had six offers. I have run out of inventory and would certainly love the opportunity to speak to you about selling your home.

ADDRESS SQ. FT. / BED / BATH

PRICE PER LIST PRICE SQ. FT.

DAYS ON MARKET

7605 E Larkspur Dr

2,750 / 4 / 2

$161.82

$445,000

3

2,858 / 3 / 3 2,242 / 4 / 2 3,118 / 3 / 2.5 3,039 / 4 / 3 2,918 / 3 / 3

$131.21 $183.72 $137.91 $148.08 $185.02

$375,000 $411,900 $430,000 $450,000 $539,900

41 47 182 27 43

currently for sale sale pending

BANKRUPTCY • FHA – 2 years from the discharge date • Conventional – 4 years from the discharge date • VA – 2 years from the discharge date

7408 E Corrine Rd 12571 N 76th St 7637 E Windrose Dr 7678 E Windrose Dr 7532 E Wethersfield Rd

There are sometimes exceptions to the rules, so feel free to call me to discuss your unique situation.

If you are considering making a new home purchase, purchasing a second home away from the heat, or buying an income-producing investment property, call me today.

I can give you helpful details on your eligibility, rates and available programs.

ADDRESS

7417 E Corrine Rd 7613 E Windrose Dr 7620 E Carol Way 7307 E Wethersfield Rd 12715 N 78th St 12425 N 78th St 12222 N 74th St 12630 N 79th St

sold

SQ. FT. / BED / BATH 2,149 / 4 / 2 2,149 / 4 / 2 2,494 /3 / 2.5 2,626 / 4 / 2.5 2,845 / 4 / 2.5 2,826 / 4 / 3 3,354 / 4 / 3.5 4,728 / 5 / 4.5

PRICE PER COE SQ. FT. $145.42 3/19/12 $174.50 2/28/12 $151.24 3/13/12 $163.75 4/03/12 $156.41 4/09/12 $166.31 3/22/12 $147.58 3/26/12 $206.22 3/29/12

LIST PRICE $350,000 $384,000 $399,000 $469,900 $450,000 $469,900 $529,900 $888,888

SOLD PRICE $312,500 $375,000 $377,200 $430,000 $445,000 $470,000 $495,000 $975,000

Stylizing

DAYS ON MARKET 17 32 111 110 11 21 43 34

A Housing Shortage In The Valley?

Demand is Up, Supply is Low

All information is deemed reliable but not guaranteed.

The properties on this list have been listed/sold by various members of the MLS.

WJ BRADLEY MORTGAGE CAPITAL

Mike Tompkins,Mortgage Lender

Perfect Poolside Fare

NMLS #217645 9237 E. Via De Ventura #100 Scottsdale, AZ 85258

Windsor’s Mixed-Grain Salad

480.421.1151 Direct Office mike@wjbonline.com www.wjbonline.com

Buenavante

(c) 2011 W.J. Bradley Mortgage Capital Corp., 201 Columbine Street Suite 300, Denver, CO 80206. Phone #303-825-5670. NMLS ID 3233. Trade/service marks are the property of W.J. Bradley Mortgage Capital Corp.

This is not a commitment to lend. Restrictions apply. All rights reserved. Some products may not be available in all states. WJB is not acting on behalf of or at the direction of HUD/FHA or the federal government. AZ License # BK-0903998. NMLS consumer access: www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/3233.

If your home is currently listed, this is not a solicitation for that listing.

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

the Heart of the Home

Real Estate Report ISSN-1939-9588

In Good Taste

Event Calendar

Featuring Windsor 602.279.1111 | WindsorAZ.com

MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!

MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey

Does your kitchen need an upgrade?

Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes.

When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.”

Appliances are now not only energy efficient, but are often multi-functional.

For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens

Combine orange zest and juice, shallots, vinegar and honey in a blender.

With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt.

FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon.

FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut

1 cup cooked barley

Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix.

FOR THE ROASTED BEETS: 1 bunch baby beets

1 Tbs. red or white wine vinegar (optional)

Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters.

TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish.

Servings: 6 to 8

and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement.

Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials.

“Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.”

Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.

The style of the cabinets will help set the stage for the personality of the kitchen.

Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space.

Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color

and character that backsplashes will bring to the kitchen is a key focal point.

“Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.”

Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”

HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way.

The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes.

However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency.

With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0

and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven.

Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement.

Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.

By: Mike Orr, The Cromford Report

It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.

Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention.

Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks!

Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits.

Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.

In Good Taste

Event Calendar

Featuring Windsor 602.279.1111 | WindsorAZ.com

MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!

MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey

Does your kitchen need an upgrade?

Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes.

When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.”

Appliances are now not only energy efficient, but are often multi-functional.

For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens

Combine orange zest and juice, shallots, vinegar and honey in a blender.

With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt.

FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon.

FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut

1 cup cooked barley

Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix.

FOR THE ROASTED BEETS: 1 bunch baby beets

1 Tbs. red or white wine vinegar (optional)

Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters.

TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish.

Servings: 6 to 8

and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement.

Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials.

“Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.”

Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.

The style of the cabinets will help set the stage for the personality of the kitchen.

Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space.

Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color

and character that backsplashes will bring to the kitchen is a key focal point.

“Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.”

Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”

HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way.

The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes.

However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency.

With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0

and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven.

Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement.

Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.

By: Mike Orr, The Cromford Report

It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.

Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention.

Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks!

Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits.

Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.

Buenavante

May | June 2012

SPECIALIZING IN

Buenavante Real Estate

• Phoenix Business Journal ranks Kelly #11 in The Phoenix Business Journal Book of Lists out of more than 20,000 Real Estate Agents.

• Graduate Arizona State University 1983

Buenavante REAL ESTATE ACTIVITY IN

Kelly McLain Realtor

602.625.4653

mclainjk@aol.com www.kellymclain.com

Buenavante has certainly seen its share of activity in 2012. Currently five homes are under contract and eight homes have closed year-to-date. This time last year, four homes had closed year-to-date.

Only one home remains on the market in Buenavante. If you’re thinking of selling, now may be the best time in four years. Inventory remains at record lows, and homes are getting multiple offers. There

Know Your Rights It feels like the housing crisis has been around now for many years and in fact it really has. Now that we are seeing signs of recovery, it may be a good idea to know the rules regarding short sales, bankruptcy and foreclosures and the time frame in which a buyer can borrow again if they have experienced any of these in the past. Though perhaps none of these have happened to you, I am sure we all know someone who has experienced it and would benefit from the information.

SHORT SALE • FHA – 3 years from the short sale date, or immediately after the short sale if mortgage was current through the short sale process • Conventional – 2 years from the short sale date with 20% down, 4 years from the short sale date with 10% down, and 7 years from the short sale date with less than 10% down

is no doubt we will see another wave of bank-owned homes and short sales arriving on the market in

• VA – 2 years from the short sale date FORECLOSURE • FHA – 3 years from the date of foreclosure • Conventional – 7 years from the date of foreclosure • VA – 3 years from the date of foreclosure

the coming months. The summer selling season is upon us and the low inventory numbers will not last.

Sellers have one of the best opportunities to get their homes SOLD now. My last sale in Buenavante just closed a few weeks ago and had six offers. I have run out of inventory and would certainly love the opportunity to speak to you about selling your home.

ADDRESS SQ. FT. / BED / BATH

PRICE PER LIST PRICE SQ. FT.

DAYS ON MARKET

7605 E Larkspur Dr

2,750 / 4 / 2

$161.82

$445,000

3

2,858 / 3 / 3 2,242 / 4 / 2 3,118 / 3 / 2.5 3,039 / 4 / 3 2,918 / 3 / 3

$131.21 $183.72 $137.91 $148.08 $185.02

$375,000 $411,900 $430,000 $450,000 $539,900

41 47 182 27 43

currently for sale sale pending

BANKRUPTCY • FHA – 2 years from the discharge date • Conventional – 4 years from the discharge date • VA – 2 years from the discharge date

7408 E Corrine Rd 12571 N 76th St 7637 E Windrose Dr 7678 E Windrose Dr 7532 E Wethersfield Rd

There are sometimes exceptions to the rules, so feel free to call me to discuss your unique situation.

If you are considering making a new home purchase, purchasing a second home away from the heat, or buying an income-producing investment property, call me today.

I can give you helpful details on your eligibility, rates and available programs.

ADDRESS

7417 E Corrine Rd 7613 E Windrose Dr 7620 E Carol Way 7307 E Wethersfield Rd 12715 N 78th St 12425 N 78th St 12222 N 74th St 12630 N 79th St

sold

SQ. FT. / BED / BATH 2,149 / 4 / 2 2,149 / 4 / 2 2,494 /3 / 2.5 2,626 / 4 / 2.5 2,845 / 4 / 2.5 2,826 / 4 / 3 3,354 / 4 / 3.5 4,728 / 5 / 4.5

PRICE PER COE SQ. FT. $145.42 3/19/12 $174.50 2/28/12 $151.24 3/13/12 $163.75 4/03/12 $156.41 4/09/12 $166.31 3/22/12 $147.58 3/26/12 $206.22 3/29/12

LIST PRICE $350,000 $384,000 $399,000 $469,900 $450,000 $469,900 $529,900 $888,888

SOLD PRICE $312,500 $375,000 $377,200 $430,000 $445,000 $470,000 $495,000 $975,000

Stylizing

DAYS ON MARKET 17 32 111 110 11 21 43 34

A Housing Shortage In The Valley?

Demand is Up, Supply is Low

All information is deemed reliable but not guaranteed.

The properties on this list have been listed/sold by various members of the MLS.

WJ BRADLEY MORTGAGE CAPITAL

Mike Tompkins,Mortgage Lender

Perfect Poolside Fare

NMLS #217645 9237 E. Via De Ventura #100 Scottsdale, AZ 85258

Windsor’s Mixed-Grain Salad

480.421.1151 Direct Office mike@wjbonline.com www.wjbonline.com

Buenavante

(c) 2011 W.J. Bradley Mortgage Capital Corp., 201 Columbine Street Suite 300, Denver, CO 80206. Phone #303-825-5670. NMLS ID 3233. Trade/service marks are the property of W.J. Bradley Mortgage Capital Corp.

This is not a commitment to lend. Restrictions apply. All rights reserved. Some products may not be available in all states. WJB is not acting on behalf of or at the direction of HUD/FHA or the federal government. AZ License # BK-0903998. NMLS consumer access: www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/3233.

If your home is currently listed, this is not a solicitation for that listing.

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

the Heart of the Home

Real Estate Report ISSN-1939-9588