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CATHERINE REAGOR REAL ESTATE
Mortgages are easier to get now
H The 14,000-square-foot “Log Mahal� in Payson — with its three kitchens, nine bedrooms, 10 bathrooms and more — sold for $2.7 million. RES MEDIA
Selling the
UNUSUAL Unique homes need just the right buyer
Sue Doerfler The Republic
i
azcentral.com
Most homebuyers don’t need maids’ quarters. They don’t necessarily appreciate a model railroad track encircling the backyard. Or want towel bars fabricated out of horse shoes. The mainstream buyer’s idea of the American dream is a four-bedroom, 1,800- to 2,000square-foot house with a livable floor plan and
The buyer of this Payson log home purchased some of the furnishings and decor. RES MEDIA
Algarve
neutral decor. Some homes don’t fit that mold: Their owners have personalized them with unique, unexpected or odd features. Those features could potentially make the home difficult to sell. “The owner often sees (the feature) as a big benefit to buying their house,� said Neil Brooks, a Realtor with HomeSmart in Scottsdale. “But people looking at the home may think it’s (an) See UNUSUAL, Page R3
This typical Gilbert tract home has an atypical upscale gourmet kitchen. HILINE IMAGING
The fossil-flagstone flooring in this Scottsdale house turned off some people. HIGHRESMEDIA LLC
omebuyers taking out a mortgage or homeowners trying to refinance should find it a bit easier now. Lenders have loosened their credit standards, and borrowers have their best chance of getting a loan in three years, according to the latest Mortgage Bankers Association index. The Mortgage Credit Availability Index rose to 114.0 in March, up from 113.5 in February. The baseline for the index was set at 100 when the survey was started in March 2012. An increase in the index indicates looser credit standards. MBA estimates the index would have been 800 in 2007 before lenders’ big pullback from the housing market after the crash. And for borrowers still having trouble qualifying for a loan, Mortgage Bankers is forecasting lenders will loosen their credit standards even more later this year. But no one should expect a repeat of the overly loose lending that led to the housing crash. The trend toward easier credit standards is counter to what many expected when new mortgage standards went into effect in January. A survey done early this year found 80 percent of bankers expected new mortgage regulation to reduce credit availability. But declining profit has more lenders looking for more ways to make money, and that could benefit homebuyers. Earlier this year, part of the slowing in the metro Phoenix housing market was attributed to buyers not being able to qualify for mortgages. March home sales ticked up again, potentially signaling more buyers were able to qualify. Here’s a breakdown of financing of Phoenix-area home sales in 2014:  About 67 percent of the homes purchased in the Valley through March were financed See REAGOR, Page R6
950 W. Main St. • Mesa, AZ 85201
480-385-0224
For more information, see our ad inside! *On select units.
Algarve@celticpropertymanagement.com
Palms at Glendale
UP TO 4 WEEKS FREE!* ASK US HOW!
6112 N. 67th Ave. • Glendale, AZ 85301
623-792-9130
Glendale@celticpropertymanagement.com
Vineyard Estates 915 W. Alta Vista • Phoenix, AZ 85041
602-748-1699
Vineyards@celticpropertymanagement.com $5
SCOTTSDALE | 16831 North 62nd Place | Open Today 1-4PM
MOVE-IN READY! Beautifully light and open floor plan with rich MLS# hardwood floors, neutral designer paint, attractive tile, dual pane Bedrooms windows, vaulted ceilings and art niches. Gorgeous slab granite Bath island kitchen has stainless appliances and light Oak cabinetry. Pool Gas fireplace and custom built-in entertainment wall in the family room. Soak in marvelous mountain views from the large balcony Sq. Ft. off the master. Double doors reveal the spacious suite with walkParking in closet. Updated baths. Picture perfect yard. Safely fenced pool, Lot Size pretty grass and paver lawn, citrus and covered dining patio. Former ZIP Code model home in the Magic 85254 Zip Code minutes to Kierland and Desert Ridge shopping and dining. – Joseph Callaway Online Pics Price
Brought to you by Those Callaways, (480) 596-5751
- 5087703 -5 -3 - Yes - 2,557 - 3-Car Garage - 6,891 sq. ft. - 85254 - ThoseCallaways.com - $450,000
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PARADISE VALLEY | 8620 North 58th Place | Open Today 12-4PM
FRESHLY UPDATED HOME, FABULOUS RESORT-STYLE MLS# BACKYARD. Nestled on a quiet shady street, this beautifully Bedrooms updated home begins with an immaculately manicured lawn, Bath scattering of colorful flowers, towering palm trees and intimate Pool cocktail courtyard. Formal rooms w/rich hardwood flooring. Gorgeous kitchen. Split wing w/sun-kissed bedrooms plus flexSq. Ft. room for second family room, play room, game room/billiards ZIP Code parlor. Master suite w/mountain, pool views. Amazing rear grounds: Online Pics lagoon-like beach-entry pool, spillover spa, waterfall, expansive Price entertaining patios, barbecue island, sport court, trellis-roofed ramada, conversation fire-pit, putting green. Two-bedroom guest house. Visit tourfactory.com/1153658. See inside for full details, directions.
Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty
- 5106419 -7 -7 - Yes - 6,872 - 85253 - BaldwinTeam.com - $2,500,000
see more inside $5