Equestrian Manor Lifestyle

Equestrian Manor

The #1 Agent

November | December 2012

FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 55 TRANSACTIONS!

&

• 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

REAL ESTATE ACTIVITY IN

Equestrian Manor & Paradise Manor

Kelly McLain Realtor

602.625.4653

mclainjk@aol.com www.kellymclain.com

Big Banks, Big Problems?

First the good news: we are really busy. The bad news, is that we are really busy with buyers who have either been turned down by another lender or received information from another lender that just did not sound right. In today’s world it is important to shop around. Not only for the best interest rate and fees, but also for the scenario that best suits your needs and the timeframe in which it takes to complete the transaction. Here are some tips: 1. There is no reason a mortgage loan should take longer than 30 days. Regardless of what the big national lenders say, a mortgage transaction can comfortably be completed in 30 days. Why does it take so long by other institutions? The bottom line is they have inexperienced, non-licensed originators that just do not know the correct procedures which bog down the system. They are simply order takers.

2. Watch for overlays. The big institutions have placed what we call overlays on their mortgage transactions. These overlays are basically internal rules in which they have decided to go by on top of the guidelines posted by Fannie Mae, Freddie Mac, FHA, USDA or VA. Some common examples of this include increasing the down payment requirements, lowering the loan-to-value on certain transactions, not allowing certain purchasing options or cutting appraisals just because they want to.

3. Get the service you deserve. I recently talked to a client that had previously attempted a refinance. When she called her bank she was quickly transferred to a loan processor. She made several attempts to speak to her loan originator, but got nowhere. She then contacted us and was relieved to actually speak to someone who was knowledgeable and explained the process. The day we ordered our loan documents for her closing was the day she received a call back from her previous lender. That was 25 days later.

There is no doubt the mortgage industry has gone through some changes over the years. Some were much needed and maybe some went a little too far.

However, getting a mortgage is really not that difficult if you are working with someone with experience and communicates. I offer you competitive rates and fees, AND great service. You needn’t sacrifice your sanity to get the best deal!

WJ BRADLEY MORTGAGE CAPITAL

Mike Tompkins,Mortgage Lender

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

The activity in Equestrian Manor and Paradise Manor Estates has decreased dramatically over the past 3 months. Only one sale has occurred since August 1, 2012 and it has not closed escrow as of this writing, it is the bank-owned home located at 6107 E Paradise Dr. Inventory remains down and prices have flattened out over the past 45 days. As the snowbirds start to arrive in the Valley, many will be looking to buy homes in our area. I am working with some Canadians who are looking to move into the area, so if you’re thinking about selling, please call me. Year-to-date we have seen values go up approximately 17% in the area.

All of my listings have SOLD in the area, but I do have a new listing in Paradise Valley:

JUST LISTED

$15,000,000 | PARADISE VALLEY | 16,000+ SQUARE FEET | 8 BEDROOMS | 11 BATHS The estate boasts a 2000 square foot guest house, tennis court, basketball court, separate children’s wing, along with 5 acres of Bergoff-designed landscaping, and sits at the base of Camelback Mountain.

ADDRESS SQ. FT. / BED / BATH

DAYS ON MARKET

PRICE PER SQ. FT.

LIST PRICE

4,550 / 4 / 3.5

70

$250.11

$1,138,000

13,701 / 7 / 10

181

$197.07

$2,700,000

currently for sale 12027 N. 62nd Pl.

sale pending 6107 E. Paradise Dr.

All information is deemed reliable but not guaranteed.

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

mike@wjbonline.com www.wjbonline.com

The Housing Market is Recovering Quickly

Why is Metro Phoenix Leading the Nation?

Flavors Inspired by Fall

Equestrian Manor & Paradise Manor

(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.

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

Ideas To Make Your Events Sparkle

Seasons 52’s Aromatic Maple-Glazed Duck

480.421.1151 Direct Office

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

Holiday E ntertaining

Real Estate Report ISSN-1939-9588

In Good Taste

Event Calendar

Featuring Seasons 52 602.840.5252 | Seasons52.com

N OVEMBER | DECEMBER 2012 Charity Golf Tournament

DUCK BREASTS WITH GRILLED APPLES & MAPLE GLAZE INGREDIENTS: 6 duck breasts or chicken breasts 1/4 cup maple bourbon glaze (see recipe below) 3 apples, grilled (specialty red or Granny Smith - your choice) kosher salt and pepper to taste seasonal vegetable and fresh thyme or sage to garnish PROCEDURE: Pre-marinate duck breasts (see glaze recipe). Season duck breasts with kosher salt and black pepper. Heat grill and cook duck breasts over medium-high heat. Cook duck to desired temperature, approximately 5 minutes each side. Glaze duck breast while cooking. Remove duck from grill and let rest ten minutes before slicing. Shingle duck slices with grilled apples.

Drizzle with more glaze and serve with seasonal vegetables.

Serves: 4 MAPLE BOURBON GLAZE INGREDIENTS: 1/4 cup maple syrup 1/4 cup balsamic vinegar 1/4 cup bourbon 1 can chicken stock, low sodium (10 ½ oz) 1/2 tsp. Tabasco, chipotle 1/2 tsp. kosher salt 1/2 tsp. Worcestershire sauce 2 shallots, peeled, minced 1 Tbs. thyme, fresh, washed, pickled, minced Note: use half to marinate, and use half as glaze PROCEDURE: Combine all ingredients in a medium mixing bowl. Whisk together. Reserve ½ cup of marinade. Pour over 2 lbs. of skinless duck breasts. Marinate covered in the refrigerator for a minimum of 4 hours. Place the remaining mixture in a small sauce pot. Cook on medium-high for approximately 15-20 minutes until glaze thickens. Reserve until ready to use.

Yield: 2 1/2 cups

Arizona Grand Resort, November 16th 602.955.3947 | Hemophiliaz.org Gather your foursome and prepare for 18 holes of

Hanukkah Dinner

Undoubtedly some of the joys of the busy holiday season are the parties and celebrations that come along with it. Whether you’re already a veteran party-giver looking for some new inspiration for this year, or more of a non-hosting party-goer considering entertaining your own guests, see what we’ve compiled for some fun and festive celebrations!

Retro Cocktail Party Just as the classic cocktail has come back into favor and we’re all obsessed with TV’s Mad Men, put an innovative twist on your cocktail party this year. Set the mood with holiday music from the 60s.

(Amazon.com sells an Ultra-Lounge: Christmas Cocktails CD featuring crooners such as Peggy Lee, Dean Martin and Ray Anthony.) Encourage guests to arrive in suits and smart dresses (hats a plus) so you all look the part. Go retro with the menu: deviled eggs, shrimp cocktail, cheese balls, kebabs and marinated olives.

Cocktails? Roll out a snazzy bar cart complete with vintage cocktail shaker and serve all the old greats: Tom Collins, Sidecar, Manhattan, Old Fashioned and more.

Light up your ambiance with a nod to the Festival of Lights – have candles burning beautifully throughout your home.

Decorate with sparkling blues, silvers and golds. Sprinkle foil-covered chocolate gelt and dreidels about the table and include floral centerpieces of white and blue winter flowers such as narcissus, tulips and hyacinths. Foods that have been baked or fried in oil are central to the Hanukkah feast, so serve a savory beef brisket, latkes, challah bread and sufganiyot for dessert.

There are a number of delicious kosher wines available now, and they’re more readily found in stores.

Holiday Brunch Nothing brings families together for a special occasion like a festive brunch.

With time-honored holiday tunes piping through the speakers and the seasonal scents of cloves and allspice permeating the home, your guests will feel like they’ve stepped into a winter wonderland. Ask everyone to bring a wrapped ornament for an ornament exchange. Have holiday crafts and activities to keep the children occupied. Let the flavors of the season dictate your menu: cranberry pancakes, maple bacon quiche, smoked salmon and cream cheese strata, pumpkin Belgian waffles, warm seafood salad and more.

spectacular golf along with fun, interactive games and events. Afterwards, stay for the Casino Dinner Party with dinner, dancing, casino games, and a comedy show! Proceeds benefit the Arizona Hemophilia Association.

ARTrageous gala starring Bernadette Peters Virginia G. Piper Theater, December 1st For drinks, cafés au lait, Bloody Marys and Mimosas are always in order. For a holiday twist on the Mimosa, substitute orange juice for pomegranate juice.

Elegant Dinner Party This is the opportunity to bring out your best china and crystal and go all out with a sumptuous feast for an intimate gathering.

Invite guests to come in their finest holiday attire and serve a menu that stands up to the elegant occasion you’re presenting.

Try oyster soup, a sage-encrusted rib roast, roasted rosemary and garlic potatoes, Yorkshire pudding, creamed spinach and a decadent chocolate peppermint cheesecake for dessert. To add to the festivities, include some Champagne tasting as an activity. Test your guests with a blind tasting, or simply give guests a rating system and let everyone choose their favorites.

Caroling Party If you’re a little shy about singing to your neighbors (don’t be, they’ll love it!), organize a trip to a nursing home or hospital. A caroling party is the perfect way to blend the sounds and the flavors of the holidays into a fun tradition. When your guests arrive, warm up their tummies and their throats with a casual buffet. Think plenty of hot hors d’oeuvres, perhaps a baked ham, butternut squash soup and steaming loaves of crusty bread. Prepare custom song books for carolers and supply everyone with a candle and wax protector.

After all the caroling fun is done, everyone comes back to your home to enjoy egg nog, spiced apple cider and a large array of Christmas cookies in front of a cozy fire.

480.499.8587 | ScottsdalePerformingArts.org Guests will enjoy a cocktail reception and silent auction and have the opportunity to view the latest SMoCA exhibitions before a gourmet seated dinner and the performance by Ms. Peters. Seven-time Tony Award-Nominee Peters will perform classic Broadway songs and standards.

Holiday Prelude Phoenician Resort, December 7th 602.977.1240 | PhoenixYouthSymphony.org Grab your most stylish friends and host a table for the annual luncheon and fashion show to benefit the Phoenix Art Museum, Phoenix Youth Symphony and Phoenix Theater Guild. Fashions presented by Escada and The Clotherie.

Athleta Iron Girl 10 Mile & 5K Fountain Hills, December 16th IronGirl.com

WHY IS THE VALLEY’S HOUSING MARKET LEADING THE NATION IN RECOVERY?

By Michael Orr

On September 25th, the S&P/Case-Shiller© Home Price Index for July 2012 was released. At 117.22, the index for the Phoenix area was up a dramatic 16.6% from last year. Our nearest rival was Minneapolis, far below us at 6.4%, while some cities such as Atlanta were showing a fall since last year. Why has the Phoenix housing market been recovering faster than any other part of the USA over the last year?

Our area was one of the hardest hit by the housing bubble bursting between 2006 and 2008.

The monthly average price per sq. ft. for a residential property fell from $190 in June 2006, to $79 in August 2011, a decline of over 58%. Almost all that decline happened in the single year of 2008.

In the areas worst hit by foreclosures, the decline was even steeper; but luxury homes were impacted later and to a lesser extent. As an example, Scottsdale’s zip code 85255 fell from $351 to $183 per sq. ft. between January 2007 and October 2010, a decline of 48%. This was below the average for

Phoenix, but far beyond the price declines felt in most parts of the USA. We can see that Central Arizona had to adjust home pricing to market conditions much faster than the rest of the country. In short, we took our knocks early on, but the good news is that we were able to start recovering much sooner.

The fundamental reasons for the volatility of Arizona’s home pricing can be found in our real estate laws. Arizona uses Deeds of Trust instead of Mortgages. This means more than 99% of foreclosures are non-judicial, completed by a trustee without going to court. Arizona trustees are very efficient and we have the shortest time in the nation between a Notice of Trustee Sale and a completed foreclosure. As a result, tens of thousands of foreclosed homes flooded the market

in 2008 causing an excess of supply which drove prices down dramatically.

Since 2009, lenders have increasingly sought to avoid foreclosures by allowing the borrowers to short sell their property for less than the outstanding debt. In Arizona, real estate transactions are almost always conducted

by Realtors who only receive compensation when escrow closes. In many other states, lawyers are required to be involved, which means short sales fail more often and usually take much longer to reach a conclusion satisfactory to all parties. Our short sale success rate is among the highest in the country.

Whether through foreclosure or through short sales, Arizona’s non-current home loan rate has plummeted from 16.3% in February 2010 to 8.5% in

Whether you’re a first-timer or an experienced athlete, the Iron Girl events provide women

July 2012. This is the largest drop in delinquency of any state. Faster elimination of troubled loans has meant our market has been able to recover its stability more quickly.

Housing supply is now well below normal and demand is strong due to low pricing and low interest rates. The areas where pricing fell hardest and soonest are those that have recovered the most. For example Phoenix’s zip code 85009 has more than doubled its pricing from a year ago. The luxury areas are showing more modest price gains, but the market is clearly recovering strength. The market bottom is now a distant speck in our rear view mirror.

with a fantastic platform to reach their personal

Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business.

with the gorgeous sounds of the Phoenix Symphony

bests. Choose from among the 10-mile run or the shorter 5K. Medals to every finisher and post-race giveaways are among the many amenities of the run.

New Year’s Eve Celebration Symphony Hall, December 31st 602.495.1117 | PhoenixSymphony.org Assemble your family and friends and ring in 2013 performing your favorite classics. This musical celebration is the perfect ending to your year and most certainly will set the tone for a gracious and blessed New Year!

In Good Taste

Event Calendar

Featuring Seasons 52 602.840.5252 | Seasons52.com

N OVEMBER | DECEMBER 2012 Charity Golf Tournament

DUCK BREASTS WITH GRILLED APPLES & MAPLE GLAZE INGREDIENTS: 6 duck breasts or chicken breasts 1/4 cup maple bourbon glaze (see recipe below) 3 apples, grilled (specialty red or Granny Smith - your choice) kosher salt and pepper to taste seasonal vegetable and fresh thyme or sage to garnish PROCEDURE: Pre-marinate duck breasts (see glaze recipe). Season duck breasts with kosher salt and black pepper. Heat grill and cook duck breasts over medium-high heat. Cook duck to desired temperature, approximately 5 minutes each side. Glaze duck breast while cooking. Remove duck from grill and let rest ten minutes before slicing. Shingle duck slices with grilled apples.

Drizzle with more glaze and serve with seasonal vegetables.

Serves: 4 MAPLE BOURBON GLAZE INGREDIENTS: 1/4 cup maple syrup 1/4 cup balsamic vinegar 1/4 cup bourbon 1 can chicken stock, low sodium (10 ½ oz) 1/2 tsp. Tabasco, chipotle 1/2 tsp. kosher salt 1/2 tsp. Worcestershire sauce 2 shallots, peeled, minced 1 Tbs. thyme, fresh, washed, pickled, minced Note: use half to marinate, and use half as glaze PROCEDURE: Combine all ingredients in a medium mixing bowl. Whisk together. Reserve ½ cup of marinade. Pour over 2 lbs. of skinless duck breasts. Marinate covered in the refrigerator for a minimum of 4 hours. Place the remaining mixture in a small sauce pot. Cook on medium-high for approximately 15-20 minutes until glaze thickens. Reserve until ready to use.

Yield: 2 1/2 cups

Arizona Grand Resort, November 16th 602.955.3947 | Hemophiliaz.org Gather your foursome and prepare for 18 holes of

Hanukkah Dinner

Undoubtedly some of the joys of the busy holiday season are the parties and celebrations that come along with it. Whether you’re already a veteran party-giver looking for some new inspiration for this year, or more of a non-hosting party-goer considering entertaining your own guests, see what we’ve compiled for some fun and festive celebrations!

Retro Cocktail Party Just as the classic cocktail has come back into favor and we’re all obsessed with TV’s Mad Men, put an innovative twist on your cocktail party this year. Set the mood with holiday music from the 60s.

(Amazon.com sells an Ultra-Lounge: Christmas Cocktails CD featuring crooners such as Peggy Lee, Dean Martin and Ray Anthony.) Encourage guests to arrive in suits and smart dresses (hats a plus) so you all look the part. Go retro with the menu: deviled eggs, shrimp cocktail, cheese balls, kebabs and marinated olives.

Cocktails? Roll out a snazzy bar cart complete with vintage cocktail shaker and serve all the old greats: Tom Collins, Sidecar, Manhattan, Old Fashioned and more.

Light up your ambiance with a nod to the Festival of Lights – have candles burning beautifully throughout your home.

Decorate with sparkling blues, silvers and golds. Sprinkle foil-covered chocolate gelt and dreidels about the table and include floral centerpieces of white and blue winter flowers such as narcissus, tulips and hyacinths. Foods that have been baked or fried in oil are central to the Hanukkah feast, so serve a savory beef brisket, latkes, challah bread and sufganiyot for dessert.

There are a number of delicious kosher wines available now, and they’re more readily found in stores.

Holiday Brunch Nothing brings families together for a special occasion like a festive brunch.

With time-honored holiday tunes piping through the speakers and the seasonal scents of cloves and allspice permeating the home, your guests will feel like they’ve stepped into a winter wonderland. Ask everyone to bring a wrapped ornament for an ornament exchange. Have holiday crafts and activities to keep the children occupied. Let the flavors of the season dictate your menu: cranberry pancakes, maple bacon quiche, smoked salmon and cream cheese strata, pumpkin Belgian waffles, warm seafood salad and more.

spectacular golf along with fun, interactive games and events. Afterwards, stay for the Casino Dinner Party with dinner, dancing, casino games, and a comedy show! Proceeds benefit the Arizona Hemophilia Association.

ARTrageous gala starring Bernadette Peters Virginia G. Piper Theater, December 1st For drinks, cafés au lait, Bloody Marys and Mimosas are always in order. For a holiday twist on the Mimosa, substitute orange juice for pomegranate juice.

Elegant Dinner Party This is the opportunity to bring out your best china and crystal and go all out with a sumptuous feast for an intimate gathering.

Invite guests to come in their finest holiday attire and serve a menu that stands up to the elegant occasion you’re presenting.

Try oyster soup, a sage-encrusted rib roast, roasted rosemary and garlic potatoes, Yorkshire pudding, creamed spinach and a decadent chocolate peppermint cheesecake for dessert. To add to the festivities, include some Champagne tasting as an activity. Test your guests with a blind tasting, or simply give guests a rating system and let everyone choose their favorites.

Caroling Party If you’re a little shy about singing to your neighbors (don’t be, they’ll love it!), organize a trip to a nursing home or hospital. A caroling party is the perfect way to blend the sounds and the flavors of the holidays into a fun tradition. When your guests arrive, warm up their tummies and their throats with a casual buffet. Think plenty of hot hors d’oeuvres, perhaps a baked ham, butternut squash soup and steaming loaves of crusty bread. Prepare custom song books for carolers and supply everyone with a candle and wax protector.

After all the caroling fun is done, everyone comes back to your home to enjoy egg nog, spiced apple cider and a large array of Christmas cookies in front of a cozy fire.

480.499.8587 | ScottsdalePerformingArts.org Guests will enjoy a cocktail reception and silent auction and have the opportunity to view the latest SMoCA exhibitions before a gourmet seated dinner and the performance by Ms. Peters. Seven-time Tony Award-Nominee Peters will perform classic Broadway songs and standards.

Holiday Prelude Phoenician Resort, December 7th 602.977.1240 | PhoenixYouthSymphony.org Grab your most stylish friends and host a table for the annual luncheon and fashion show to benefit the Phoenix Art Museum, Phoenix Youth Symphony and Phoenix Theater Guild. Fashions presented by Escada and The Clotherie.

Athleta Iron Girl 10 Mile & 5K Fountain Hills, December 16th IronGirl.com

WHY IS THE VALLEY’S HOUSING MARKET LEADING THE NATION IN RECOVERY?

By Michael Orr

On September 25th, the S&P/Case-Shiller© Home Price Index for July 2012 was released. At 117.22, the index for the Phoenix area was up a dramatic 16.6% from last year. Our nearest rival was Minneapolis, far below us at 6.4%, while some cities such as Atlanta were showing a fall since last year. Why has the Phoenix housing market been recovering faster than any other part of the USA over the last year?

Our area was one of the hardest hit by the housing bubble bursting between 2006 and 2008.

The monthly average price per sq. ft. for a residential property fell from $190 in June 2006, to $79 in August 2011, a decline of over 58%. Almost all that decline happened in the single year of 2008.

In the areas worst hit by foreclosures, the decline was even steeper; but luxury homes were impacted later and to a lesser extent. As an example, Scottsdale’s zip code 85255 fell from $351 to $183 per sq. ft. between January 2007 and October 2010, a decline of 48%. This was below the average for

Phoenix, but far beyond the price declines felt in most parts of the USA. We can see that Central Arizona had to adjust home pricing to market conditions much faster than the rest of the country. In short, we took our knocks early on, but the good news is that we were able to start recovering much sooner.

The fundamental reasons for the volatility of Arizona’s home pricing can be found in our real estate laws. Arizona uses Deeds of Trust instead of Mortgages. This means more than 99% of foreclosures are non-judicial, completed by a trustee without going to court. Arizona trustees are very efficient and we have the shortest time in the nation between a Notice of Trustee Sale and a completed foreclosure. As a result, tens of thousands of foreclosed homes flooded the market

in 2008 causing an excess of supply which drove prices down dramatically.

Since 2009, lenders have increasingly sought to avoid foreclosures by allowing the borrowers to short sell their property for less than the outstanding debt. In Arizona, real estate transactions are almost always conducted

by Realtors who only receive compensation when escrow closes. In many other states, lawyers are required to be involved, which means short sales fail more often and usually take much longer to reach a conclusion satisfactory to all parties. Our short sale success rate is among the highest in the country.

Whether through foreclosure or through short sales, Arizona’s non-current home loan rate has plummeted from 16.3% in February 2010 to 8.5% in

Whether you’re a first-timer or an experienced athlete, the Iron Girl events provide women

July 2012. This is the largest drop in delinquency of any state. Faster elimination of troubled loans has meant our market has been able to recover its stability more quickly.

Housing supply is now well below normal and demand is strong due to low pricing and low interest rates. The areas where pricing fell hardest and soonest are those that have recovered the most. For example Phoenix’s zip code 85009 has more than doubled its pricing from a year ago. The luxury areas are showing more modest price gains, but the market is clearly recovering strength. The market bottom is now a distant speck in our rear view mirror.

with a fantastic platform to reach their personal

Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business.

with the gorgeous sounds of the Phoenix Symphony

bests. Choose from among the 10-mile run or the shorter 5K. Medals to every finisher and post-race giveaways are among the many amenities of the run.

New Year’s Eve Celebration Symphony Hall, December 31st 602.495.1117 | PhoenixSymphony.org Assemble your family and friends and ring in 2013 performing your favorite classics. This musical celebration is the perfect ending to your year and most certainly will set the tone for a gracious and blessed New Year!

Equestrian Manor

The #1 Agent

November | December 2012

FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 55 TRANSACTIONS!

&

• 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

REAL ESTATE ACTIVITY IN

Equestrian Manor & Paradise Manor

Kelly McLain Realtor

602.625.4653

mclainjk@aol.com www.kellymclain.com

Big Banks, Big Problems?

First the good news: we are really busy. The bad news, is that we are really busy with buyers who have either been turned down by another lender or received information from another lender that just did not sound right. In today’s world it is important to shop around. Not only for the best interest rate and fees, but also for the scenario that best suits your needs and the timeframe in which it takes to complete the transaction. Here are some tips: 1. There is no reason a mortgage loan should take longer than 30 days. Regardless of what the big national lenders say, a mortgage transaction can comfortably be completed in 30 days. Why does it take so long by other institutions? The bottom line is they have inexperienced, non-licensed originators that just do not know the correct procedures which bog down the system. They are simply order takers.

2. Watch for overlays. The big institutions have placed what we call overlays on their mortgage transactions. These overlays are basically internal rules in which they have decided to go by on top of the guidelines posted by Fannie Mae, Freddie Mac, FHA, USDA or VA. Some common examples of this include increasing the down payment requirements, lowering the loan-to-value on certain transactions, not allowing certain purchasing options or cutting appraisals just because they want to.

3. Get the service you deserve. I recently talked to a client that had previously attempted a refinance. When she called her bank she was quickly transferred to a loan processor. She made several attempts to speak to her loan originator, but got nowhere. She then contacted us and was relieved to actually speak to someone who was knowledgeable and explained the process. The day we ordered our loan documents for her closing was the day she received a call back from her previous lender. That was 25 days later.

There is no doubt the mortgage industry has gone through some changes over the years. Some were much needed and maybe some went a little too far.

However, getting a mortgage is really not that difficult if you are working with someone with experience and communicates. I offer you competitive rates and fees, AND great service. You needn’t sacrifice your sanity to get the best deal!

WJ BRADLEY MORTGAGE CAPITAL

Mike Tompkins,Mortgage Lender

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

The activity in Equestrian Manor and Paradise Manor Estates has decreased dramatically over the past 3 months. Only one sale has occurred since August 1, 2012 and it has not closed escrow as of this writing, it is the bank-owned home located at 6107 E Paradise Dr. Inventory remains down and prices have flattened out over the past 45 days. As the snowbirds start to arrive in the Valley, many will be looking to buy homes in our area. I am working with some Canadians who are looking to move into the area, so if you’re thinking about selling, please call me. Year-to-date we have seen values go up approximately 17% in the area.

All of my listings have SOLD in the area, but I do have a new listing in Paradise Valley:

JUST LISTED

$15,000,000 | PARADISE VALLEY | 16,000+ SQUARE FEET | 8 BEDROOMS | 11 BATHS The estate boasts a 2000 square foot guest house, tennis court, basketball court, separate children’s wing, along with 5 acres of Bergoff-designed landscaping, and sits at the base of Camelback Mountain.

ADDRESS SQ. FT. / BED / BATH

DAYS ON MARKET

PRICE PER SQ. FT.

LIST PRICE

4,550 / 4 / 3.5

70

$250.11

$1,138,000

13,701 / 7 / 10

181

$197.07

$2,700,000

currently for sale 12027 N. 62nd Pl.

sale pending 6107 E. Paradise Dr.

All information is deemed reliable but not guaranteed.

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

mike@wjbonline.com www.wjbonline.com

The Housing Market is Recovering Quickly

Why is Metro Phoenix Leading the Nation?

Flavors Inspired by Fall

Equestrian Manor & Paradise Manor

(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.

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

Ideas To Make Your Events Sparkle

Seasons 52’s Aromatic Maple-Glazed Duck

480.421.1151 Direct Office

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

Holiday E ntertaining

Real Estate Report ISSN-1939-9588