ON E OF A R I ZON A’ S N AT U R A L R E S O U R C E S
SEPTEMBER 2012
Nate Martinez Team
What a Difference Thirty Years Makes Thirty years ago I was becoming a father for the first time. Thirty years ago the price of gas was $1.38 per gallon. There was no Google or Facebook. Thirty years ago the block buster movie was Raiders of the Lost Ark and Katherine Hepburn was the Oscar winning actress for her role in the movie On the Golden Pond. Thirty years ago the average price of a home was $75,000 which could be financed with a whopping 16.9% interest rate for an FHA loan. What a difference thirty years makes. Today, I am the father of four children, including a two-year-old and a step-son who just left for his freshman year at Harvard. Brennan is the first graduate of Sunrise Mountain High School to attend an Ivy League College. Both my adult children, Brandi and Nathan Jr. work with me at RE/MAX Professionals as licensed agents on my team, as well as my fiancée Tonya. Today, the price of gas is $3.59 per gallon and Google has now become a household name. Thirty years later, the average price of a single family home in the Valley is approximately $150,000 and interest rates are a fraction in comparison. A home today can be financed with an FHA loan for an interest rate around 4% if not less, depending on the day. Today, you can purchase double the house for a monthly payment that is $340.00 LESS that it would have cost in 1981 or you could buy a home valued at $225,000 for the same payment – what a difference thirty years makes! It was almost thirty years ago when I began my career in real estate. I have seen markets go up and markets go down – some markets have been better than others and some markets, well they made history here in Arizona. I believe, the market we are in right now is one we will look back on in thirty years and say “wow.”
Now, we can all agree there are something from thirty years ago that we would like to stay in 1981, for example, spandex shorts and the “Flock of Seagulls” hairdo…but one thing we can agree on, is the affordability of homeownership. Thirty years later, it is obvious from the statistics, that owning a home today is a great investment. You can not rent a single family home in the Valley for what you can pay monthly on an FHA loan. If you or someone you know is considering making a move, whether that is buying or selling, give me a call today. Please do not wait thirty years to look back and say “I should have purchased when…”
Home Purchased in 1981 Purchase Price: Down Payment: Interest Rate: Monthly Investment:
$75,000 $2,250 16.9% $1,031.27
Home Purchased in 2012 Purchase Price: Down Payment Interest Rate: Monthly Investment:
$150,000 $5,250 4% $691.06
*Figures do not include property taxes, hazard insurance or HOA fees. These figures are for informational purposes only and should not be relied upon by you. RE/MAX Professionals is not a mortgage lender and so you should contact a qualified mortgage broker directly to learn more about its mortgage products and your eligibility.
7 1 1 1 W B e l l R d S u i t e 1 0 1 . G l e nd a l e , A Z 8 5 3 0 8 O: 602.942.7000 | TF: 800.284.1158
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ADDRESS
CITY
BED BATH POOL
PRICE
ADDRESS
CITY
BED
BATH SQ.FT
1825 N 89th Ave 13527 W Bolero Dr 20821 N 1st Ln 5526 W Grovers Ave 19918 N 146th Way 17562 W Coyote Trail Dr 12521 W Reade Ave 40132 N Tangle Ridge Way 5949 W Cielo Grande 33013 N 24th Ln 12346 Cougar Dr 9618 W Butler Dr 7453 W Paraiso Dr 3544 N 149th Ave 4529 W Fallen Leaf Ln 9722 W Prospector Dr 35714 N 32nd Ln 4908 W Silva Dr 11406 S 194th Dr 12068 W Morning Vista Dr 520 E Adair Dr 20711 N 55th Ave 1517 W Bramble Berry Ln 40214 N Fairgreen Way 16469 W Yuma Rd 30946 N 120th Ave
Phoenix Sun City West Phoenix Glendale Sun City West Goodyear Litchfield Park Anthem Glendale Phoenix Sun City West Peoria Glendale Goodyear Glendale Queen Creek Phoenix Phoenix Buckeye Peoria Phoenix Glendale Phoenix Anthem Goodyear Peoria
3 2 3 3 2 4 5 3 3 3 3 4 4 2 4 4 5 5 4 4 2 5 5 5 4 5
$77,500 $89,900 $90,000 $104,900 $124,900 $145,000 $150,500 $150,000 $200,000 $200,000 $219,900 $232,000 $242,500 $250,000 $270,000 $273,400 $304,900 $320,000 $349,900 $375,000 $415,000 $425,000 $429,000 $449,900 $459,000 $1,000,000
3505 N 188th Ave 8416 N 34th Ave 1502 S 82nd Dr 2135 W Kristal Way 8134 W Maryland Ave 9733 W McRae Way 5244 W Sierra St 40716 N Territory Trail 7157 W Vermont Ave 24966 W Wayland Dr 7361 W Yucca St 7326 N 40th Dr 6125 W Oregon Ave 25643 W Primrose Ln 2131 W Verde Ln 4902 W Whispering Wind 1420 W Joy Ranch Rd
Litchfield Park Phoenix Phoenix Phoenix Glendale Peoria Glendale New River Glendale Buckeye Peoria Phoenix Glendale Buckeye Phoenix Glendale Phoenix
6 2 4 4 3 2 3 5 2 3 3 3 4 3 3 4 Vacant
4 1 2 2 2 2 2 2.5 1 2 1 2 2 2 2 2.5 Land
2 1.75 2 2 1.75 2 2.5 2 1.75 3 1.75 2.5 2 2 3 2.5 3 3.5 2 3.5 2.5 2.75 4 3 3.5 4.5
NO NO NO NO NO NO NO NO NO NO NO YES YES NO YES NO NO YES NO NO YES YES NO YES NO YES
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Available Rentals ADDRESS
CITY
BED
BATH PRICE
5012 W Rowell Rd 1517 W Bramble Berry Ln
Phoenix Phoenix
6 5
4.5 4
$2,500 $2,800
Do you know about all the great deals in real estate right now? Smart investors do, and they’re purchasing properties left and right thanks to incredibly low prices and interest rates. Investing in real estate the right way provides immediate cash flow in your pocket and builds wealth in the long term. Let me show you how to unlock a world of real estate wealth! Download a free report at: arizona-investor-resource.com
RE/MAX Professionals Home Hotline gives you access to information in English & Espanol on virtually every property in the MLS, 24/7 from any phone!
Are you frustrated with listing agents not answering your sign call? We have a solution! Call the Nate Martinez Team today and receive a complimentary phone number that you can call any time, day or night to receive ALL the information you need on ANY home for sale! 602-942-7000 Call us TODAY!
3,851 1,008 1,834 2,201 1,716 2,147 905 2,140 1,642 1,325 945 2,051 2,243 2,031 1,370 1,663 XXXX
DON’T SWEAT IT
with these intelligent investing tips. For more info visit: www.AZShortSaleResource.com
For every home we sell, a donation will be made to the Children’s Miracle Network on behalf of, and in the name of, the Buyer or Seller!
9/1 9/2 9/3 9/4 9/5 9/6 9/7
Gabriel Lamas Matt Franklin Manuel Calles Karen Stark Bill Boswell Bill Svobada Max Berg Karen Howard Mario Cavazos Caesar De Moss Douglas Rich Richard Finney Alex Samaniego Murray Smith Janice Braslins Donald Olson Nickolas Gilsdorf Betty Houk Cheryl Olson Ellen Johnson Agripina Paluch Edwin Fine Glenda Benson Gloria Santa Cruz Carsan Burden
9/2 9/3 9/6 9/7
9/8 9/9 9/10 9/11 9/12
Cyndi Wahl Nick Mirt Mariah Ferretti Michael Burrola Rochelle Scott Lynda Winterstein Joanne Hunold Robert Chapman Luella Rogers Kelci Bombaci Alyssa Haberly David Jones Larry Almon II Benjamin Dass Raymond Beck Luicia Estrada Kelly Hartle Tom Reardon Ian Winterstein Barry Bechtold Bruce Roth Christopher Ferretti Sabrina Gomez Hunter Franklin
9/13 9/15 9/16 9/17 9/18 9/19 9/20
Hal Dekeyser Roger Lesperance Anna Kuttner Michael Copeland Joel Patterson Mercury Tanaka Mike Sager Rhonda Sullivan Jacob Bavin Ruhide Lala Lynette Jelinek Joshua Aranda Sylvia Sanchez Isaac Schorr Sean Barrett Jacob Santa Cruz Stephen Motte Sam Brick Suzanna Dekeyser Jane Carmichael Jesus Romero James Topolosek Nicole Constantino
9/21 9/22 9/23 9/24 9/25
Carole Meye Drew Lindquist Matthew Higgins VirNon Elkins Catherine Coady Diane Heller Kaylee McDonald Drew Olson Deborah Jones Gerald Mallory Scott Beer Malgy Blue Susan Sorenson Nicholas Vasquez Shannon Dunn Monty Low Beth McHugh Zac Fox Alyas Jones Andy Navarro Russ Belle Elaine Holloran Alexis Ravenstein Shelly Hickman
• Don’t see your name? Email or call us with your birthday!
Mr. & Mrs. Barry Brewster Mr. & Mrs. Robert Chapman Mr. and Mrs. Randy Low Mr. & Mrs. Curt Schemers Mr. & Mrs. James Cartan 9/9 Mr. & Mrs. Duane Woods
9/10 9/11 9/15 9/17 9/20
Mr. & Mrs. Pete Hovard Mr. & Mrs. Mike Garner Mr. & Mrs. Rich Hansen Mr. & Mrs. George Rhoads Mr. & Mrs. Ken Barre Mr. & Mrs. Paul Spitzzeri Mr. & Mrs. Gary Bennett
9/21 9/23 9/24 9/26 9/28 9/30
Mr. & Mrs. Robert Scalice Mr & Mrs. James Rivera Mr. & Mrs. Melvin McNeely Mr. & Mrs. Dave Gould Mr. & Mrs. Paul Betz Mr. & Mrs. Mark Rogers
Web link to IRS: http://www.irs.gov/individuals/article/0,,id=179414,00.html Call us at 602.942.7000 or email at Nate@NatesHomes.com to discuss your options. No obligation.
For more info visit: www.AZShortSaleResource.com
David Raskin Jim Kuttner Terry Ringe Melvin McNeely Jodi Crowder Kevin Varricchio Lisa Beth Howland Walt Braslins Mandi Klimpel Sarah Turner Michael Swichtenerg Donna Cusey Giles Wilson Jasmine O’Neal Anne Yost Acey Reagan Jesse Leija Ryan Richter Derek Bies Mike Shepard Vincent Lomeo Natalie Javid Wilma James Bruce May Hal Haberly
We l Referrals!
The Nate Martinez Team would like to thank the following people for the wonderful referrals they have sent our way. Dave Ramsey, Dave Ramsey Show Ruth Aston, Real Estate Advantage Group Karen Bugni, Coldwell Banker Kittitas Valley Realty Joanne DeLeon, The Group Melissa Yost Fuentes, RE/MAX Casa Grande Janice Hall, RE/MAX Professionals
Mortgage Debt Relief Act - Could Cost You $$$ If you, or anyone your know, are considering doing a short sale you will need tomake a swift decision. Many short sales are taking anywhere from 4 to 8 months to compelte, so time is running out to qualify under the Mortgage Forgiveness Debt Relief Act and Debt Cancellation. If you do not complete your short sale before January 1, 2013 you may be held responsible for the difference as taxable income. At this moment in time there is no clear understanding as to whether Congress will extend this deadline or not.
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Foreclosure
SHORT SALE
• Up to 300 points off your credit report
• As little as 50 points off your credit report
• On your credit up to 7yrs.
• On your credit 12-18 months
• Will not be able to get a loan for 7yrs.
• Possible to get a loan immediately
When Can I Buy Again After a Short Sale or Foreclosure FannieMae
Yrs Explanation
FHA
Yrs Explanation
VA
Yrs Explanation
Foreclosure Short Sale
7 2
Foreclosure Short Sale
3 3
Foreclosure Short Sale
2 -
Chpt. 7 Bankruptcy 4 Chpt. 13 Bankruptcy 2
_ With 20% down payment, 4 yrs. with 10% down payment From discharge date From discharge date or 4 yrs. from dismissal date
FreddieMac
Yrs Explanation
Foreclosure Short Sale Chpt. 7 Bankruptcy Chpt. 13 Bankruptcy
4-7 4 4 2
With 10% down payment _ From discharge date From discharge date
Chpt. 7 Bankruptcy 2 Chpt. 13 Bankruptcy 2
_ If you were current on your mortgage payment during the short sale process, you maybe eligible sooner From discharge date With permission from the chapter 13 trustee, borrower maybe eligible for new loan, as long as they have 1 year of positive payment history
Chpt. 7 Bankruptcy 2 Chpt. 13 Bankruptcy -
_ No documented information yet, however, can assume the FHA rule applies. From discharge date With permission from the chapter 13 trustee, borrower maybe eligible for new loan, as long as they have 1 year of positive payment history
* There are exceptions to every rule and the guidelines are changing constantly. If you or someone you know has gone through a foreclosure, bankruptcy or short sale in the past 2-5 years, its time to consider purchasing again. In some areas of the city, you can purchase a home today for less than it sold for new 10 years ago, you can’t rent for less than what you can own a home for today. If are unsure of your eligibility, please give us a call. We can connect you with a professional loan officer who can assist you with the qualifying process.
602-942-7000 | www.NatesHomes.com | www.NatesLuxuryHomes.com
7111 W Bell Rd Suite 101. Glendale, AZ 85308 P: 602-942-7000 E: Nate@nateshomes.com www.NatesHomes.com www.NatesLuxuryHomes.com Each office independently owned and operated
• What was the block buster movie 30 years ago?
• What was the interest rate 30 years ago?
• How much was a gallon of gas?
OPEN THIS NEWSLETTER TO FIND OUT!
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