AZ Real Estate 03-26-2017

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Prepare before you make purchase Buyers and sellers agree it’s never too early to start ASSOCIATED PRESS

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CATHERINE REAGOR REAL ESTATE

A ROUGH CUT Trump budget plan would rip into affordable HUD housing A few years ago, I met a resident of Tempe’s Apache ASL Trails apartments built for deaf senior citizens. Using sign language and an interpreter, she told me how much she loved living at the complex next to light rail with other people who understood what it’s like not to be able to hear. Apache ASL won a national award for affordable housing and has become a model for developing homes for people with special needs. Without funding from the Department of Housing and Urban Development, Apache ASL wouldn’t have been built. In Mesa, hundreds of victims of domestic violence and their children have found a safe home at the Autumn House. That safe haven was developed with funds from HUD’s Community Development Block Grant program.

About 30 families with parents or children with disabilities wouldn’t be able to call an affordable-loft apartment complex in Glendale’s Orchard Glen neighborhood home if its developer hadn’t received backing from HUD. And tens of thousands of homeowners across metro Phoenix wouldn’t have been able to buy or at least would have had a much harder time without HUD-funded counseling programs. All the federal programs that helped these people find safe, housing they can afford will be chopped under the current $6 billion proposed cuts for HUD.

Some feel the cuts are ‘nonsense’ To say many Valley housing advocates are in anguish over the potential massive hit to housing See REAGOR, Page 3R

The spring home-buying season is gearing up to be one of the most competitive in recent history, as the shortage of for-sale homes is keeping inventory tight and prices high. Buyers and sellers hoping to be successful this spring should start the process early, according to the 2016 Zillow Group Report on Consumer Housing Trends. Of over 13,000 U.S. residents surveyed, the number one regret for both buyers and sellers was not starting their home search or prepping their home to sell soon enough. U.S. home values across the nation are up 7.2 percent over the past year, and there are three percent fewer homes to choose from than a year ago, according to the January Zillow@ Real Estate Market Reports. “This spring, both buyers and sellers should be prepared for fast-moving sales, intense negotiations, and even bidding wars,” said Jeremy Wacksman, Zillow Group chief marketing officer. “Home shoppers and sellers are motivated to become more strategic and knowledgeable about what’s happening in their neighborhood. Understanding whether you are in a buyer’s or a seller’s environment will help you manage your expectations and will give you insight into what you’re going to need to bring to the table in order to close the deal.” The Zillow Group Report on Consumer Housing Trends reveal strategies for how to buy and sell in today’s highly competitive market.

Buyers » Keep your options open. More than half (52 percent) of buyers said they also considered renting, and more than one third (37 percent) of first-time buyers seriously considered continuing to rent. Savvy shoppers will have a Plan B in place, hoping to buy if it works out, but willing to sign a lease for a home if they don’t make a deal by the time they need to move. » Be realistic with your budget. Once you set it, stick to it: first-time home buyers are more likely to exceed their budget than repeat buyers (39 percent vs 26. Before you meet with a lender to determine how much mortgage you’ll be approved for, take a good look at your individual finances and spending preferences to determine the monthly payment range that you feel you can comfortably afford. Use ZilSee PREPARATION, Page 3R

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