AZ Real Estate 01-15-2017

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E M A I L U S AT N E W S T I P S @ A R I Z O N A R E P U B L I C . C O M O R C A L L U S AT 6 0 2 - 4 4 4 - N E W S ( 6 3 9 7 )

Home prices, rates are forecast to rise With low home supply, buyers could face a challenging year ALEX VEIGA ASSOCIATED PRESS

Nate Lowenstein has been shopping for a home in Los Angeles, on and off, for more than a year. His search has been stymied by a stubbornly low roster of homes on the market and the hurdles that come with it: multiple competing bids and higher prices.

“It’s not a great market, from a buyer’s perspective,” said Lowenstein, a lawyer. “The one good thing is that interest rates were quite low.”

As recently as last summer, homebuyers had ultralow mortgage rates on their side. It was good news for any borrower, but especially for those in expensive housing markets such as Los Angeles, Boston and Seattle.

That was then. While mortgage rates remain very See OUTLOOK, Page 3R MALLORY PRICE/GANNETT

Purchase or Refinance Loan amounts between

Refinance 150,000 to Now! $417,000 $

• No Points • No Fees • No Closing Costs

You don’t have to pay a lot in fees to get a great rate!

480.607.7906

or visit us at scoutmortgage.com 9304 E Raintree Dr., #110 Scottsdale, AZ 85260 Visit us on Facebook

This advertisement is a solicitation by Scout Mortgage, Inc. for a mortgage loan. Loan amounts $150,000 to $417,000. 15 or 30 Year Fixed. Closing Costs paid at closing include title, recording, processing, underwriting, and escrow fees. Prepaid taxes/insurance not included. Good credit required. Owner Occupied homes only. Verifiable income required. Impounds may be required. Consolidating debt may increase rate. Your rate and term may vary. Not all applicants will be approved. Call for details. MB0903218/NMLS# 56553

AR-0008630714-01

SCOTTSDALE | 10408 East Sunnyside Drive | Open Today 1–4PM

EXTRAORDINARY & EXPANSIVE. Nestled on well over a MLS# - 5541576 half-ACRE corner lot, a grand portico entry invites you into Bedrooms - 5 this luxurious custom home. A bright open plan features Marble Bathrooms - 5 floors, dual-pane volume view windows, soaring vaulted ceilings, Pool - Yes fireplace. A culinary dream, the eat-in kitchen enjoys slab granite and stainless appliances. Welcoming family room. Spacious bonus Sq. Ft. - 5,985 room. Sitting room master suite with a lavish bath. Second master Garage - 4-Car Garage suite is just as special. The back yard is a desert oasis with mature Lot Size - HALF-ACRE-PLUS flora, BBQ kitchen, lush lawn, pebble-finish pool/spa, dining ZIP Code - 85259 Ramada and sport court. Community tennis courts. Four-car split garage. N/S exposure. Experience the beauty of this home yourself! Online Pics - ThoseCallaways.com - Joseph Callaway Price - $1,275,000

Brought to you by Those Callaways, Luxury Circle International (480) 596-5751

see more inside AR-0008628259-01

PARADISE VALLEY | 6224 North Yucca Road | Open Today 12–4PM

VIEW-RICH ESTATE IN EXCLUSIVE FINISTERRE. Boasting MLS# - 5530320 big, bold beautiful views of the magnificent Camel’s head, this Bedrooms - 4 stunningly updated home is nestled inside Finisterre. Lush desert Bathrooms - 5.5 landscaping, towering palm trees, circular drive, courtyard entry.

Pool - Yes Galleria hallway for showcasing artwork. Sun-kissed formal rooms w/beamed ceilings, focal-point fireplace framed by twin-set of Sq. Ft. - 5,722 sheer glass doors. Sleek, chic ultra-modern kitchen. Sanctuary-like ZIP Code - 85253 master retreat w/contemporary bath including both an indoor and an outdoor shower. Sweeping lawns, rose-covered dining pergola, Online Pics - BaldwinTeam.com Price - $3,150,000 fruit grove, garden greenhouse, multiple patios, beach-entry pool. Guest house w/two en-suite bedrooms. Visit tourfactory. com/1685068. Inside: details, directions.

Brought to you by Brought to you by Sandra Baldwin, Launch Real Estate

see more inside AR-0008628239-01

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Valley Home Values DONE DEALS TOP DOLLAR Phoenix Suns players past and present are among buyers and sellers of the week’s priciest home sales in metro Phoenix.

$2,850,000 Piece of the Past Inc., an antique store in Las Vegas owned by Kevin Martin, purchased a 7,669-square-foot home in Chandler’s Oakwood Hills. This mansion has six bedrooms, 41⁄2 bathrooms and has been remodeled 13 times in the past nine years.

Versailles-patterned hardwood floors, granite countertops and custom travertine tile are a few of the luxuries of this home. The master bedroom is adorned with marble vanities, a sitting area, carved pillars and large windows.

A resort-style backyard faces a community golf course and includes two outdoor fireplaces, fire pits, custom pool with a waterfall, spa and lazy river. Oakwood Hills LLC, a Delaware limited-liability company managed by Juliet Youmaran, sold the estate.

James Rogers paid $2.5 million for this home in north Scottsdale’s Silverleaf neighborhood.

room, and three fireplaces. The master bedroom has a gas fireplace, hand-carved cantera mantles and the room surrounds an exercise area, a wet bar and sauna. Retired Suns player Raja Bell and his wife, Cindy, sold the 6,700-square-foot estate.

$2,300,000

$2,512,500

STREETSCOUT.COM PHOTOS

James Rogers paid cash for a north Scottsdale home in the Silverleaf neighborhood through his family trust. The estate it fitted with smart technology and is inspired by Spanish architecture. There are five bedrooms, 51⁄2 bathrooms, detached casita, theater room and secret play room for the kids. For adults, the temperature-controlled wine room is a nice touch. The master bedroom features a luxurious bathroom with claw-foot tub, bidet, double walk-in closet and a fireplace in the sitting area. Robert Weisman and his wife, Judy, sold the 5,834-square-foot home through their trust.

James Janik, chairman of the board at Douglas Dynamics in Wisconsin, and his wife, Susan, bought this north Scottsdale home for $2.3 million.

$2,400,000

$2,375,000

Christopher Rafferty, director at MFS investment Management, and his wife, Kathleen, purchased a newly renovated mansion in Scottsdale. There are five bedrooms and seven bathrooms in the 7,046-square-foot space. The great room features a retractable glass wall and opens to a paved patio with gorgeous mountain and city views. The was sold by Daniel Reed III, manager of the Reed Family Revocable Trust.

Hailing from Ukraine, Phoenix Suns player Alex Len paid cash for his Paradise Valley home in a gated community. The home rests on more than an acre of land with gorgeous views of Camelback Mountain. There are four bedrooms, 41⁄2 bathrooms and a guest house with a full kitchen and family room. The amenities in the home include a gourmet kitchen, 9-foot sliding glass windows, automated retractable glass doors in the great

James Janik, chairman of the board at Douglas Dynamics in Wisconsin, and his wife, Susan, bought their north Scottsdale home through their family trust. The living room features floor-to-ceiling windows giving a panoramic view of Pinnacle Peak. Nestled on 1.4 acres, the estate boasts a contemporary style and an open floor plan. The master suite and office are located on a separate wing, away from the two guest suites. The backyard includes a heated negative-edge pool, spa and large covered patio. Thomas Phillips sold the home.

Researched by Joanna Brathwaite and The Information Market.

CHRISTOPHER COMBS REAL ESTATE Q&A

Foregiveness law protected short sellers from income liability Question: Last summer we did a short sale of our home in Peoria. Our lender agreed to the short sale and reduced the amount of the mortgage loan by $100,000 in order to close the sale of our home.

Although we never thought of any income tax consequences, our accountant

said that we may have income tax liability for this debt forgiveness of $100,000.

Is that possible?

Answer: The general rule is that any debt forgiveness by a lender has income tax liability to the borrower. In light of the numerous foreclosures and short sales during the Great Recession, however, in 2007 Congress passed the Mort-

gage Forgiveness Tax Relief Act. Under this act the owner of a principal residence who had lost a home to a foreclosure or by a short sale, had no income tax liability for any debt forgiveness by the lender.

This act has been extended several times, most recently until the end of this past year. Therefore, if your sale was be-

fore Dec. 31, 2016, you should not have any income tax liability for the $100,000 debt forgiveness by your mortgage lender.

Most political observers do not believe that the act will be extended again.

Reach attorney Christopher Combs at azrep@combslawgroup.com.

Scottsdale 85259 Paradise Valley 85253

Luxurious Custom Home With Oasis-Like Backyard

Stunning View-Rich Estate in Exclusive Finisterre

10408 E. Sunnyside Drive

6224 N. Yucca Road

Open Today 1–4PM. Extraordinary in every way, this stunning custom home is nestled on more than half an ACRE near Cactus Road and 104th Street in Scottsdale.

Luxurious to the max, this jewel begins with a sweeping lawn and a circular drive that leads to a dramatic porte-cochere entry. Inside, the grand living room is graced with marble floors, soaring vaulted ceilings and statuesque pillars.

Not far away, the bay-windowed dining room is perfect for hosting friends and loved ones, as is the magnificent family room with its wet bar, inviting fireplace, beautiful stacked-stone accent wall and a spacious area ideal for a billiards parlor or game room.

The neighboring chef’s kitchen wows with an upscale stainless appliance package, golden-

and bronze-hued granite and rich raised-panel cabinetry, while the adjacent breakfast nook features a stretch of comfy-cozy banquette seating. Meanwhile, the primary master retreat enjoys a blissful bedroom and a lavish bath; the secondary master suite is just as special.

A step outside reveals an enticing desert oasis dressed with mature flora, a pretty play lawn, sprawling lounge-sun decks, a boulder-trimmed lagoon-style pool/spa, a built-in barbeque island, trellis-roofed dining Ramada and a sport court.

Additional details: French-doored executive’s office with outside entrance; expansive patios; four-car split garage; north/south exposure; corner lot; community tennis courts. (5BD; 5BA; 5,985SF)

Boasting big, bold beautiful views of the magnificent Camel’s head, this stunningly updated home is nestled deep inside the exclusive community of Finisterre.

Flattered by lush desert landscaping and towering palm trees, this gorgeous jewel begins with a circular drive that leads to a welcoming courtyard entry. A step across the threshold reveals a galleria hallway (perfect for showcasing your most treasured artwork) as well as sun-kissed formal rooms with handsome beamed ceilings and a focal-point fireplace framed by a twin-set of sheer glass doors to the alfresco amenities.

Sleek and chic, the ultra-modern kitchen features an entertainer’s wet bar plus an expansive serving/prep island accented by

Open Today 12–4PM

OPEN TODAY 1-4PM AREA HIGHLIGHTS

DIRECTIONS

NEARBY SCHOOLS: Anasazi Elementary School; Mountainside Middle School; Desert Mountain High.

NEARBY HOSPITALS: HonorHealth Scottsdale Shea; Mayo Clinic.

NEARBY SHOPPING: Desert Ridge Marketplace; Kierland Commons; Scottsdale Quarter.

CROSS-STREETS: Cactus Road and 104th Street.

DIRECTIONS: South to home on left.

Look for Those Callaways Open House signs.

Offered at $1,275,000.

stylish pendant lighting. Not far away, the casual dining area is ideal for relaxing with friends and loved ones thanks to plantation-shuttered bay windows that dapple the floors with natural light. Meanwhile, the sanctuary-like master retreat is blessed with a pampering private bath highlighted by contemporary finishes and both an indoor and an outdoor shower.

Along with sweeping lawns, the rear grounds show off with a rose-covered dining pergola, a mature fruit grove, an enclosed garden greenhouse, multiple patios and a sparkling beach-entry pool. Completing this serene scene is a striking guest house with two en-suite bedrooms, a living room, kitchen and bath.

Visit tourfactory.com/1685068. Offered at $3,150,000. (4BD; 5.5BA; 5,722SF)

CONTACT Joseph and JoAnn Callaway, Those Callaways Luxury Circle International 480-596-5751 www.ThoseCallaways.com

MLS# 5541576 AR-0008628259-02

AREA HIGHLIGHTS

DIRECTIONS

NEARBY SCHOOLS: Kiva Elementary; Mohave Middle School; Saguaro High.

NEARBY HOSPITALS: HonorHealth Scottsdale Shea; Mayo Clinic.

NEARBY SHOPPING: Kierland Commons; Scottsdale Fashion Square.

CROSS-STREETS: Lincoln Drive and Invergordon.

DIRECTIONS: West to 61st Place.

South to Finisterre guard-gate. Guard will provide directions to property.

AR-0008628239-02

CONTACT Sandra Baldwin, Launch Real Estate 602-397-4300 www.BaldwinTeam.com

MLS# 5530320

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AZ Real Estate

Outlook Continued from Page 1R

low by historical standards, they’ve risen sharply over the past couple of months, with the average rate on a 30year fixed-rate mortgage reaching 4.2 percent this past week. The rate got as high as 4.32 percent a week before that, its highest level since 2014 and well above the past year’s average of 3.65 percent.

Economists predict that mortgage rates will continue to climb this year, just one of the trends that suggest that 2017 will be a more challenging year for homebuyers.

“With higher mortgage rates, you’re increasing the cost, challenging the budgets, challenging the ability to qualify and, as a result, likely reducing somewhat the pool of potential buyers,” said Jonathan Smoke, chief economist for Realtor.com.

So far, the rate increases haven’t begun to worry Lowenstein, who is in the market for a house with at least three bedrooms in L.A.’s affluent west side.

His budget: Between $1.6 million and $1.8 million.

“We’re not priced out yet,” Lowenstein said. “But if it goes up to 5 percent or 6 percent, at some point we would be.”

Long-term mortgage rates tend to track the yield on the 10-year U.S. Treasury note.

After Election Day, investors bet that a Republican-controlled White House and Congress will have a clear path to implement policies that will drive inflation and interest rates higher. A sell-off in U.S. bonds drove the yield on the 10year Treasury note in mid-December to the highest level in more than two years,

GREGORY BULL/AP

Prices are likely to climb this year as more Millennials enter a tight market and the supply of homes isn’t growing. Builders say they do not have enough ready-for-construction land.

and mortgage rates have floated higher with the tide.

But will they continue to do so?

Smoke predicts mortgage rates will reach 4.5 percent in 2017. Other economists expect rates to remain above 4 percent but not to go beyond 5 percent this year. That range would mean mortgage rates that would be low compared with the past decade.

So someone looking to buy a home in

the next few months doesn’t need to panic, said Svenja Gudell, chief economist at Zillow, a real estate information company.

“My advice to buyers would be to not freak out and feel a sense of urgency,” she said. “If you aren’t able to buy a house at 4.5 percent, you probably weren’t able to buy a house at 4 percent.”

Higher mortgage rates could have one silver lining: As some buyers are

priced out, sellers may have to be more flexible on prices. Over time, that could help stem home prices.

Low inventory and strong demand helped increase prices in 2016 at the fastest pace in 10 years, according to an analysis by Zillow. The company predicts that U.S. prices will increase about 3 percent on average in 2017, down from a gain of about 6.5 percent last year.

Declining affordability is one reason the National Association of Realtors predicts that homes sales will rise 2 percent this year. Compare that with the 15 percent increase in sales through the first 11 months of 2016.

Even buyers who can weather higher mortgage rates may have to brace for a long home search this year.

The inventory of homes for sale is expected to be tighter in 2017 than it was last year. While it varies by market, nationally, fewer than 1.9 million homes were on the market in November, down 9 percent from a year earlier, according to the NAR. Homebuilders aren’t building enough homes to make up for the shortage, citing a lack of ready-to-build land, labor shortages and rising building materials costs.

First-time buyers accounted for roughly 32 percent of home purchases through the first 11 months of 2016, up from 30 percent in the same period a year earlier, according to the NAR. Affordability remains a hurdle for many first-time buyers, but qualifying for financing may get a bit more accessible in 2017.

Fannie Mae and Freddie Mac increased the limit of the mortgages they will buy from lenders on Jan. 1 to $424,100 from $417,000. In more expensive markets, the mortgage giants will accept loans as high as $636,150, up from $625,500.

FRESH ON THE MARKET

MEDIAN LISTING PRICE

DAYS ON THE MARKET

New listings per month

Median price per month

For single-family home sales in November

12 thousand

300 thousand

3000

Dec. ‘14 $218,250 8

250

0

2014

2015

0 2016

2500

2901 houses

2000

Nov. ‘14 $219,000

870 houses

1500

Dec. ‘16 Nov. Nov. ‘16 16 $239,999 $245,000 $245 $2 45,000

Dec. ‘16 $6,295

Dec. ‘15 $5,925

Dec. ‘14 $5,724

Dec. ‘15 $229,500

1000 500 0

2014

2015

2016

1-30

31-60

61-90

91-120 121+ MALLORY PRICE/THE REPUBLIC

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30 yr APR

30 yr Fixed

Product

Rate

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%Down

APR

Phone / Website

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Rate: 4.000

4.001% Achievers Mortgage, LLC

On myneighborhood.azcentral.com, you can pinpoint your home on the map to find out exactly what’s happening in your community! More detailed than just entering your ZIP, you’ll find: • School info • Home sales • Recent crimes • Restaurants, bars, movie theaters and more

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3.937% 30yr Fixed APR

Mesa Mortgage, Inc.

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Call 480-837-5702

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Seligman hideaway cabin, 3BR 2BA 1440sf, on 40 acres, very rustic, full self contained. $295,000. Text 928-219-1200 for more info

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Water, Sewer & Trash Incl!

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1Br’s - $2,525, 2Br’s - $3,349 Renaissance Luxury Living in Sun Lakes Call 480-682-1499

55+ Community Pet Friendly Apts On-site Beauty Salon 9-Hole Putting Green Fitness, Pool, Spa Studios, 1, 2 & 3 Bds Starting at $695 GREAT M-IN SPECIALS Mesa Royale 480-682-4618 1825 N. Stapley, Mesa ûûûûûû

FREE RENT. 2 & 3Brs fr $750 No Common Wall. Gtd, pets, social activitites. Contempo Tempe (480) 422-0204

3790

Furnished Rentals

FREE UTILITIES! NO LEASE. FURNISHED! Studios & 1Brs from $569. Stapley & Brdwy.

La Petite (480) 327-4840

3853

Manufactured Home Rentals

3739

3872

Rental Share

M e s a furn. 1BR 1 person pvt. entrance, Share kitch & bath, cable, internt, nr bus W/D avail. Utils incl $450 mo Gilbert/Adobe 480-710-0303 Villa on the lake in Val Vista 2 lrg BR avail, 1½BA, share office, lrg private balconies.

Clubhse & kitchen privileges. See pics. 480-203-2523

3887

Horse Property/ All Areas

Litchfield Park Residential Rentals

FURNISHED PHX STUDIO APTS FREE Utilities, Move In READY FLEX PAYMENTS-NO LEASE REQ Beautiful 5br, 3½ba, pool, CALL NOW! 602-833-7334 all S/S appls, 4000sf, in gated comm, Litchfield Park area. $2195 mo + deposit.

3569 Avail Feb. 1st. 928-723-5570

Tempe Apartments

3766

1BR with large office, wash- Glendale, 55+, Pool, Quiet, er, dryer, stove, refrigera- Well Maintained, 2/1 $550. tor, large living room, Includes water, trash, sewer. RV Spaces available $275 $850/month. 623-465-5768 602-615-6174 / 623-934-3878

Unique 2 & 3 story TH’s. Great Scottsdale Location! 1, 2 & 3 Br’s! Inspiration at Frank Lloyd Wright 480-385-3406

Spacious 1, 2 & 3 bds Gated, 1st Mo+ Sec Dep*. 1-2Brs fr Mountainside Community $675. Hidden Glen 480-516-0438 Green Leaf Promontory Pointe (602) 748-1719 $35 Holding Fee! 1BR’s from $875, 2Br’s from $975. No Security Deposit.

3549 Phoenix-Northwest LA ESTANCIA 480-467-2985

Apartments

Scottsdale Condo/ Townhome Rentals

∂2Bd 2Ba 2nd Flr Condo, 3rd St/Indian. Schl, Comm Pool, Fshn Sq Mall, Cul-de-Sac, 2 Cvd Parking Spots Inc Water/ Trash/Sewer $1250 APT HUNTERS 623.205.5996

$349 M-I by ASU

WATERFRONT BEAUTY Scottsdale Nestled inside Scottsdale Ranch, this gorgeous waterfront home dazzles with a panorama of lake and mountain views.

Resort-style patios, waterfall pool, spa, palm trees, barbecue, private boat dock. Grand staircase ascends to loft, balcony, guest bedrooms. Kitchen w/jetblack granite. Family room w/beamed ceiling, multiple sliding doors to alfresco amenities. Community biking/walking paths, tennis.

Home tour at tourfactory.com/1693995 4BD/3.5BA in 3,665 SF MLS#5535734 Offered at $1,298,000

Scottsdale Apartments

Phoenix-North

W/D IN EVERY APT! All Apartments Remodeled. Free Water, Sew, Trash. 1 & 2Br fr $675.

Belleview TH’s 602-682-9657 Check out our New Look and New Name !!!!!!

Residences at Camelback 3296 West - Call 602-841-4551

Real Estate Auctions

3560

2b $775 1b $675. Nice, Gated, balcony 602-246-4330

Great Location, Near SR51.

Loft, 1 Br, 2 Br & 3Br from Studio, 1, 2, Casita and Patio $580! Quiet, pool, patio, fitness Homes from $630/month. room. Call 602-249-6244 Rancho Sierra 602-648-9883

W/D in 2-BRS. Monthly Rentals. 1, 2 & 3Br. $0 Secur- 1 Bedrooms from $550, 2 ity Dep (active military). Bedrooms from $650. *OAC Free WIFI area. 623-385-0008 Las Ventanas Apartments Call 602-246-9166

3528

1 & 2 Bdrms from $635 Pets welcome!

Acacia Pointe CALL NOW! 623-385-0146

Paradise Valley Apartments

Tempe Apartments

FREE UTITILITIES. ON LIGHT RAIL. 1 Br’s from $755* ARBOUR PARK, 1901 East Apache Blvd. 480-682-1990

3694

MOVE-IN AS LOW AS $199!* 1 & 2 Bedrooms from $559 Water, Sewer, & Trash Incl.

San Marina 623-792-9117

2Br $650, 1Br $525

3569

PET LOVER’S SPECIAL! St - $730, 1Br - $800, CREDIT FRIENDLY! Furnish- 2Br - $910. EASTRIDGE APTS ed. FREE UTILITIES & NO Call 480-682-1494 LEASE from $509/mo. Chateau Gardens (623) 937-0128 TEMPE PARK PLACE! 1 & 2 BD’s from $929. UTILITIES FURNISHED PHOENIX APTS INCLUDED! MINUTES TO Studio/2 bdrm great rates ASU! (480) 516-0104 FREE utilities, Move in today Call now 623-688-3928

1 & 2 Bedrooms Available!

PETS, Fwy Access, Stainless APPLIANCES, on lake, blinds.

Summit Lakes 480-385-3090

3527

3001

Phoenix-Central Apartments

Phoenix-West Apartments

Palm Crest @ Station 40 1, 2 & 3 BD’s from $642 Extreme Property Makeover 623-385-0109

Rentals Ahwatukee Apartments

CREDIT FRIENDLY! FREE UTILITIES! NO LEASE. FURNISHED! FROM $509/MO 59Av/Bethany. 623-385-0153

Phoenix Apartments

ALL UTILITIES INCLUDED! Stu. 1, 2, 3 bdrms from $613 Banyantree Apartments Call Now! 602-648-9885

3500-3999

Income Property For Sale

CALL FOR SPECIALS! 1, 2 & 3 Br’s from $825 Newly Remodeled!

Indigo Creek 602-748-1714

Mesa Apartments

UPGRADED 1BD’s! CALL FOR AVAILABILITY. SOME UTILITIES INCLUDED! 2 BR’s from $790 Dartmoor Apts 480-516-0431

Chandler Apartments

3524

3500

Glendale Apartments

FABULOUS RATES! 1BD $970, 2BD $996. W/D, Internet, Fitness, Pets OK. Arrowhead Summit - 623-385-0122

3518

2BR park model, completely Gilbert furnished, located in Casa Apartments Grande.

Storage shed, washer & dryer, patio furniture. Very nice 503-981-1755 Your Own Private Resort!

Gorgeous 1, 2 & 3 Bd Condos from $875. Amenities Galore. Solana 480-385-3089.

Luxury Homes, $750,000 & Up

$0

$250 DEPOSIT oac! 1Bds from $620, 2Bds from $719.

Gated, pool & sport courts.

Villa de Cortez 623-385-0151

3001

Luxury Homes, $750,000 & Up

0.000

CALL FOR CURRENT SPECIALS! 1 & 2 Bedrooms from $900 New/Renovated Interiors Verde Dimora 480-385-3404

Car Shopping? azcentral.com Click on “Autos”

WEST SEDONA 3BR 2½BA 2 car, $489K 928-274-8214

3.250

Call for Great Specials!

Gourmet & granite kitchens.

Metro at Zanjero 623-385-0090

Avondale Apartments

Land For Sale/Lease

Best Location, Best Prices!

1BD $940, 2BD $1145, 3BD $1275. W/D, I-net, Fitness, Pets 8 unit 1BR 1BA apt complex OK. San Paulo 480-467-2934 for sale in Concho, AZ. Completely remodeled from the ground up. New wiring, $45.79 Fee/$152.63 Admin Fee* plumbing, all new bath- Rent from $650! Short term rooms, kitchens, granite avail. Great Location! Central countertops. All new floor- on Broadway 480-385-3411 ing, etc. It’s a must see! $300,000, owner will carry w/$60,000 dwn 760-680-9659 Car Shopping? azcentral.com Click on “Autos”

Wonderful Views

15 yr fixed

% Down: 20%

1Br fr $649*, 2Br fr $709*. $249 M-In! oac (subject to change) 59Ave/McDowell (623) 209-7423

1996 Dblwide 28x56 3bd/2ba Split/wrapped & rdy for u lot $27,800 Ron 623-326-5556

NNN Properties,Denny’s, Taco Bell & others. Ideal for 1031 Exchange 480-326-9435

Rate: 3.875

MB0905740

www.AchieversMortgage.com

3542

3201

Northern Arizona

0.000 $885 20% 3.746

1 Bedrooms from $799 2 Bedrooms from $917 PETS WELCOME! Vista Valley CALL NOW! 480.461.1091

Manufactured Homes For Sale

3243

3.250

Fees: $0

$399 1st Months Rent!* 1 bd at $629, 2 bd at $729.

W/D, extra storage.

Sunset Landing 623.792.9126

3336

House or just land.

Power/water available. $5999/acre. 555th Ave. Visit www.firstbuyusa.com or call 602-618-1159

5/1 ARM refi

602-688-2938

3509

84 acres on US93 in Golden Valley AZ 139K 406-250-4810

3084

20% 3.126

1 & 2Brs starting at $649* $249 M-In! oac (subject to change) FREE Water, Sewer, Trash. Villa Del Sol 623-385-0017

Auction Rescheduled 736+/- acres in 8 Parcels Payson, AZ Parcels feature equestrian, homes, cabins, lakes, residential development and woodlands Opportunity for ranchettes, retreat, private horse ranch or Rim Country getaway Bid online Jan 20-25.

AuctionNetwork.com Photos at williamsauction.com/ AZRanches 9183626565. AZ Broker: Daniel Nelson #BR642568000

Acreage

$0

WEEK TO WEEK FURNISHED APARTMENTS 3 Locations - 602-385-1204 www.4RentWeekly.com

Real Estate Auctions

3233

0.000

1 & 2 Br’s from $735.

WASH/DRYER IN EVERY UNIT! Fitness, Pool Sage Condos (480) 682-1495

3296

A GUARANTEED OFFER on your home in 24 hours 480-447-3577 SellHouseQuickAZ.com

3.125

$35 APPLICATION FEE! *oac.

Studios, 1 & 2 Br’s from $560. Cambridge Square 623-385-0009

Time & Equity Sharing

Wanted Real Estate

10 yr fixed

RENT SPECIAL-12 MO LEASE! 3 & 4 Br fr $850 No Common Wall. Cov Pkg, W/D pets!

Boardwalk Estates 480-385-3084

Reduced Move-in Fees.

Rates start at $800’s!

Theater, lagoon style pool.

3 acres beautiful views in Versante Apts 623-792-9093 Coronado Island timeshare, Rio Rico AZ. 10 mins from Week #35, across street golf course $21,500. More from Hotel Del Coronado. info, email: ivonnelynch@g 3513 mail.com 480-809-3050 Call 760-568-0019 or cell Casa Grande 760-898-5252

3231

20% 3.126

312.92 Acres in Chino Valley, Az. This property is priced to sell. Bring your horses and build your custom home.

Motivated seller!! 558,000 928-848-8761

Apartments

Sun City/Sun City West Homes

$0

Apache Junction Apartments

3272 3227

0.000

Farm Ranches

3070

Scottsdale Homes

3.125

Legend: The rate and annual percentage rate (APR) are effective as of 1/12/17. © 2017 Bankrate, LLC . http://www.interest.com. The APR may increase after consummation and may vary. Payments do not include amounts for taxes and insurance. The fees set forth for each advertisement above may be charged to open the plan (A) Mortgage Banker, (B) Mortgage Broker, (C) Bank, (D) S & L, (E) Credit Union, (BA) indicates Licensed Mortgage Banker, NYS Banking Dept., (BR) indicates Registered Mortgage Broker, NYS Banking Dept., (loans arranged through third parties). “Call for Rates” means actual rates were not available at press time. All rates are quoted on a minimum FICO score of 740.

Conventional loans are based on loan amounts of $165,000. Jumbo loans are based on loan amounts of $424,101. Points quoted include discount and/or origination. Lock Days: 30-60. Annual percentage rates (APRs) are based on fully indexed rates for adjustable rate mortgages (ARMs). The APR on your specific loan may differ from the sample used. Fees reflect charges relative to the APR. If your down payment is less than 20% of the home’s value, you will be subject to private mortgage insurance, or PMI. FHA Mortgages include both UFMIP and MIP fees based on a loan amount of $165,000 with 5% down payment. VA Mortgages include funding fees based on a loan amount of $165,000 with 5% down payment. Bankrate, LLC . does not guarantee the accuracy of the information appearing above or the availability of rates and fees in this table. All rates, fees and other information are subject to change without notice. Bankrate, LLC . does not own any financial institutions. Some or all of the companies appearing in this table pay a fee to appear in this table. If you are seeking a mortgage in excess of $424,100, recent legislation may enable lenders in certain locations to provide rates that are different from those shown in the table above. Sample Repayment Terms – ex. 360 monthly payments of $5.29 per $1,000 borrowed ex. 180 monthly payments of $7.56 per $1,000 borrowed.

We recommend that you contact your lender directly to determine what rates may be available to you. To appear in this table, call 800-509-4636. To report any inaccuracies, call 888-509-4636. • http://azcentral.interest.com

Check out the view today!

3058

NMLS# 166778

15 yr fixed Points: 0.000

Out of state owner renting out small horse property in North Phx. Ready for home or RV. Near I-17 & the 101.

406-388-8018 406-580-8885

Mesa Residential Rentals

4br 2ba 1921sq culdesac lot in Las Sendas (Blandford); single level home, 1/3 acre bckyd, $1599. 480-747-4641 tabteter@gmail.com

3756

Phoenix-Northwest Residential Rentals

∂ 1Bd 1Ba in 5-Plex, 27th Ave/ Northern, Coin W/D, Water Included. Only $550 APT HUNTERS 602.863.7676

FREE CABLE! 1-2-3Br from $700. FREE Water, Sewer, Trash. Rural/Baseline College Park (480) 516-0981

3760

INCREDIBLE PRICES!!

Tempe Luxury! Great Location! Starting at $985 San Portella 480-385-3075

1 Fresh Painted 2Bd/2Ba, 2 Stry T/H W/Patio, W/D Hk-ups. 15Av /Missouri $650. 602-265-6490

Cars.com Service & Repair.

Know the cost for labor and parts in your area so you don't pay more than you should.

Research. Price. Find. Get the right service, without all the drama.

Phoenix-West Residential Rentals

CHECK OUT THESE SHORT-TERM LIVING SPECIALS!

WEEK TO WEEK MONTH TO MONTH

www.4rentweekly.com Furnished Studios & 1 Bedrooms PHOENIX NORTHWEST

PHOENIX WEST

PHOENIX CENTRAL

wkly from

wkly from

wkly from

$204.95 $204.95 $219.95

NO CREDIT REQUIREMENT 2 Wkly Meals NO 2 Wkly Meals INCOME REQUIREMENT 602.748.1674 602.682.9677 602.648.9942

Text NORTHWEST

Text WEST

TEXT CENTRAL

2541 W Georgia Phoenix

4323 N 27th Ave Phoenix

1350 E Thomas Rd Phoenix

TO 602-300-7423 TO 602-300-7423 TO 602-300-7423 FOR LIVE INFO! FOR LIVE INFO! FOR LIVE INFO!

Accepted at all locations. Rates subject to change without notice.

Taxes not included. Some restrictions apply.

$

Get AZRentals magazine delivered right to your door!

AZRentals magazine is the Valley’s premier full-color glossy guide to apartment living.

Featuring a full-color trifold map of the metro Phoenix area & color-coded geographical sections to help make your apartment search easier.

See what your home is really worth.

The Valley’s most accurate home valuation tool. Only at StreetScout.com

To get AZRentals magazine delivered to your door call 602-444-4971 or visit www.azcentral.com/advert/reprentals The Information Market, TIM, is Arizona’s most accurate real estate data firm.

AR-0008631982-01

DREAMING OF A NEW HOME? NewHomeCentral.com will help you find one.

• • • •

In-depth local information on builders, communities and neighborhoods.

High-definition video tours highlighting interiors and amenities.

Photo galleries.

Articles and tips on finding a new home.

Open the door to your brand new home. Visit

|| S U N D AY , J A N U A RY 15 , 2 017

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CHECK OUT THIS SENIOR LIVING SPECIAL! PET-FRIENDLY APARTMENTS FOR INDEPENDENT SENIORS 55 OR BETTER

Studio, 1, 2 & 3 Bedrooms Available

Get AZRentals magazine delivered right to your door!

STARTI NG @ $695 • Dishwasher • Washer / Dryer • Pool & Hot Tub • Clubhouse • Business Center • Elevators • Fitness Center • Theater • Daily Activities

AZRentals magazine is the Valley’s premier full-color glossy guide to apartment living. Featuring a full-color trifold map of the metro Phoenix area & color-coded geographical sections to help make your apartment search easier.

To get AZRentals magazine delivered to your door call 602-444-4971 or visit www.azcentral.com/advert/reprentals

1825 N. Stapley • Mesa, AZ 85203

480-682-4618 www.MesaRoyaleAZ.com

*Prices subject to change

AR-0008632128-01

3527

Glendale Apartments

NO LEASE ,C />.9> FREE UTILITIES <;>> 475/575>9 CREDIT #6%%% FRIENDLY! 9A>*5./$ FURNISHED <4;,598>( Rent ;F!? from EDH" $509 #0-&

3533

Mesa Apartments

3533

Mesa Apartments

2 BEDROOMS FROM $790 WATER, SEWER & TRASH INCLUDED!

DARTMOOR APARTMENTS 310 N. ALMA SCHOOL RD., MESA, AZ 85204

480-327-4849

AR-0008630426-01

Glendale Apartments

3548

Phoenix-North Apartments

3548

PREFERRED UNDER NEW EMPLOYER PROGRAMS* MANAGEMENT CALL FOR DETAILS

Check Out Our New Look & New Name!

Located inside Westgate City Center!

• Granite counter tops • Black appliances • Cherry wood cabinetry • Washer/Dryers • 24 hour Fitness Center • Pet friendly

TOWNHOMES AVAILABLE!

SLASHING PRICES!!!!!

Phoenix-North Apartments

99

$

MOVE-IN SPECIAL

UTILITIES INCLUDED 1x1 (small) from $615 SLASHED to $590 1x1 (medium) from $640 SLASHED to $615 1x1 (large) from $674 SLASHED to $649 2x2 from $874 SLASHED to $849

Residences at Camelback West 6610 N. 93rd Ave. Glendale, AZ 85305 623-385-0119

4001 W. Camelback Rd. Phoenix, AZ. 85019 602-841-4551

Phoenix-Northwest Apartments

3549

Phoenix-Northwest Apartments

NO LEASE FREE UTILITIES CREDIT FRIENDLY FURNISHED Rent from $529 Northern Chateau 3708 W. Northern 602-973-1362

CALL FOR GREAT MOVE-IN SPECIALS!

Chateau Gardens *@3?F3= :3DGF!B 6105 N. 59th Ave. -21'&1+'%62) 623-937-0128 3527

3549

AR-0008630703-01

3554

Phoenix-West Apartments

3554

$

249 MOVE-IN* oac

FREE RENT

Phoenix-West Apartments

Free Water, Sewer, Trash.

Full-Size W/D in Every Apt.

APP FEE WAIVED - VISIT TODAY!

Villa Del Sol (623) 209-7423

3554

Phoenix-West Apartments

Phoenix-West Apartments

Tempe Apartments

99

$299 Move-In Special! oac.

MOVE-IN SPECIAL

Free After School Learning Center

1 Bedrooms from $559 2 Bedrooms from $639 2 Bedroom/2 Bath from $659

LIGHT RAIL

7002 W. Indian School Phoenix, AZ 85033 3569

3569

$

San Marina Check Us Out For Our FALL DEALS!

STOP #25

623-792-9117

AR-0008630639-03

3554

1Brs from $649 2Brs from $709

AR-0008630613-01

Mesa Royale

Tempe Apartments

3569

Tempe Apartments

Arbour Park 1901 E. Apache Blvd., Tempe, AZ

480-682-1990 Free Utilities!

Videos that make apartment hunting a

snap!

FREE CABLE Free Water, Sewer & Trash

Bring in this ad for an Additional $50 Off Move-In! 1Brs$ from

700

2Brs$ from

800

3Brs$ from

900

6231 W. McDowell Road, Phoenix

College Park Apts | (480) 516-0981

Se Habla Español. *Prices subject to change

401 E. Dunbar Dr., Tempe (N. of Baseline/College)

Tour interiors, amenities, neighborhoods and more.

RENTER’S Legal Q & A Attention property managers and owners! The Arizona Multi housing Association invites you to attend one of the monthly Apartment Coalition meetings located throughout the valley. We currently offer 8 coalitions in the Phoenix-metropolitan area including: Central Phoenix Canyon Corridor (I-17) North Phoenix Glendale

Mesa Maryvale West Valley Tempe

The mission of these coalitions is to lay a foundation of community awareness & involvement by providing educational meetings and networking to better address the needs of your residents as well as provide professional development.

By attending these monthly meetings you’ll find: Information of general interest to all involved in managing properties as well as specific information pertinent to the location of your property Insight from guest speakers on how to improve your property’s performance Information from local police on what’s happening in your area Free Q&A with AMA Member attorneys Legislative updates that affect property owners and managers Networking opportunities to support you in your community FREE LUNCH

Whether you own or manage, you CANNOT afford to miss these Apartment Coalition meetings. ALL area owners and managers are welcome to attend. For more information, contact Stephanie Garcia at sgarcia@azama.org to find out about the next meeting in your area!

Question:: I recently had a major stroke and need extra assistance that my spouse cannot give me. We would like to have a caregiver move in for six months to help out, but the occupancy limit at my apartment community is two per bedroom and we currently live in a one bedroom. Does my landlord have to allow the caregiver to move in?

Answer: Yes, provided that you are really in need of live-in care and that is the true purpose of the caregiver.

Fair housing laws say it is unlawful discrimination to refuse to waive a rule when reasonable and necessary to accommodate the needs of a handicapped resident. Suffering the consequences of a major stroke is a handicap. It is common for persons recovering from strokes to need live-in care. Thus, your landlord needs to make an exception to your occupancy limit and allow the caregiver to temporarily move in. If the landlord has a reasonable doubt as to the existence of the handicap or the need for a caregiver, he can normally request a doctor’s letter. But if the conditions are obvious, making such a request itself would violate fair housing laws.

Editor’s note: Readers who have non-emergency, general landlord-tenant, fair housing or multi-housing real estate questions can mail them to: The Arizona Republic c/o Rental Team, 200 E. Van Buren Street, Second Floor, Phoenix, AZ 85004. While all cannot be answered in this weekly column, we will attempt to publish those questions that would be of interest to most readers. For specific or urgent advice, consult your own legal advisors before making a decision. Legal Q&A participating attorneys: Scott Clark (602) 957-7877

Matt Koglmeier (480) 962-5353

Andy Hull (602) 230-0088

Mark Zinman (480) 994-4732

AR-0008632067-01

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|| T H E A R I Z O N A R E P U B L I C

AZRentals TOM SIMPLOT RENT SMART

Ownership change can affect apartment communities Anyone casually following real estate and business news has likely seen that Arizona continues to be a hot rental market. Nearly every week, business reporters are updating readers and investors on the sales of large apartment properties around the state. Many out-ofstate owners have entered the market and paid record prices for desirable properties in our metro market.

While some renters may be con-

cerned about the impact on their lease, there are a few key things to know and some items to research. These investments and sales may be announced in your building via an internal communique or notice.

Question: Will a sale affect my lease?

Answer: A sale of a property will not affect the terms of your current lease.

New owners must honor the terms of existing leases. Be prepared to negotiate at the end of your term, and research your options prior to that time.

Q: What changes should I expect under a new owner or management?

A: You may see some changes on-site following a sale of a community. Some management companies or investors may plan to make upgrades to communal areas, like the pools, landscaping and community spaces. There may be some staffing changes as the property transitions ownership or management. There may also be a new process for requesting assistance or work orders. Your community resident website portal (if you have

one) will likely have this information or you can ask the on-site team.

Over time, the new owners may also be making investments and upgrades inside apartment units. This may be planned for the end of a lease. If you are planning to renew, contact your leasing company early to see what their new lease terms are, pricing changes and any unit updates they have planned.

Tom Simplot is president and CEO of the Arizona Multihousing Association.

IF YOU ARE THINKING ABOUT REFINANCING,

GET OFF THE FENCE. THE CLOCK IS TICKING, TIME IS RUNNING OUT!

Mortgage Rates Hit an All-Time Low! • No Points • No Fees • No Closing Costs You don’t have to pay a lot in fees to get a great rate!

Purchase or Refinance Loan amounts between

$

$

150,000 to 417,000

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480.607.7906 or visit us at scoutmortgage.com 9304 E Raintree Dr., #110 Scottsdale, AZ 85260 This advertisement is a solicitation by Scout Mortgage, Inc. for a mortgage loan. Loan amounts $150,000 to $417,000. 15 or 30 Year Fixed. Closing Costs paid at closing include title, recording, processing, underwriting, and escrow fees. Appraisal paid up front by borrower, reimbursed at closing. Prepaid taxes/insurance not included. Good credit required. Owner Occupied homes only. Verifiable income required. Impounds may be required.

Consolidating debt may increase rate. Your rate and term may vary. Not all applicants will be approved. Call for details. MB0903218/NMLS# 56553 AR-0008630714-02