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Scottsdale, AZ Real Estate News

By Gary & Claudia Scott, Scottsdale, AZ Real Estate
(Realty ONE Group - Scottsdale)
The outdoor Scottsdale Civic Center Mall is situated in downtown Scottsdale adjacent to 'Old Town’. The mall is the home of the Scottsdale Historical Museum, the Scottsdale Center for the Performing arts, The Museum of Contemporary Art, the Civic Center Library, City Hall, a myriad of restaurants with both indoor and outdoor seating and an outdoor amphitheater.  Scottsdale Civic Center Slide Show The free downtown trolley operates from 11 am to 9 pm daily stops right at the Brown Ave mall entrance. As you enter from Brown Avenue you are welcomed by a beautiful bronze of galloping horses. Continuing into the mall you are surrounded by lush landscaping, beautiful flowers and amazing fountains! It is a perfect place for a relaxing stroll or peaceful picnic lunch. The photos in my slide sh...
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By Chuck Willman, NewHouseUtah.com
(Chuck Willman)
I while ago I wrote about going back to school. It wasn't something I had hoped to do... after all I earned a degree many years ago. My daughter signed me up for a class at the local community college. I blogged about the experience here: I took my daughter to school. Well, one of my assignments was entered into a contest. It's a story I reluctantly shared here: There is a bridge. I just received a letter informing me that I won second place in the personal essay category. Entries came from a variety of universities in the Maricopa County Community College system. This is a collection of ten Arizona universities with over 250,000 enrolled students. Wow... that's somewhat awesome... but I'm guessing only a very small fraction were in the contest. They're planning a banquet and we'll be r...
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By Michael Manfredi, Real Estate & Mortgage
(Michael A. Manfredi)
Image via Wikipedia I have been recently challenged by some readers (originators) who feel they should not have to discount fees on reverse mortgages. They have questioned my knowledge of the program, accused me of non compliance and have been downright offended at my desire to give my customers a better deal. I can understand why, of course, these mortgage originators come from the old school and the forward mortgage world where they were used to making a killing on each and every loan. Not me, I started in this business in reverse mortgages only, in 2003 when the average origination fee was much lower than today and I made just a percentage of that fee after the split with my employer. Well, I am still 100%, a reverse originator and derive all of my income from reverse mortgages. Unl...
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
Recently, when I was on the same stretch of the Loop 101 almost every day for a month, I needed to find a place that was convenient to grab a coffee and something to eat. One morning, I decided to try a place I had seen just off of the freeway called Sonoma Coffee Café. Located at the Loop 101 and Via De Ventura in Scottsdale, the Sonoma Coffee Café has a drive-through window as well as a storefront. Sadly, I never had an opportunity to go inside - but I was a frequent drive-through customer and the convenient location allowed me to get back on the 101 in no time at all. Every time I visited, my coffee was consistently good and various samples of the baked goods all proved to be tasty. However, what set Sonoma Coffee Café apart for me was the service. Each morning, regardless of who was...
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By Gary & Claudia Scott, Scottsdale, AZ Real Estate
(Realty ONE Group - Scottsdale)
The FBR Open (formerly the Phoenix Open) is in full swing here in Scottsdale, Arizona. This tournament is played at the Tournament Players Club (TPC) in north central Scottsdale. The TPC Stadium course hosted it’s first FBR Open in 1987 and has evolved in to the largest attended golf event in the world! The are expecting 500,000+ attendees this year. Yesterday, January 23, 2009 was Celebrity Day. Since we were offered free tickets we opted to ‘played hokey’ and took the day off to enjoy the outdoors and watch the golfers. Although it was bright and sunny, it was a brisk 57 degrees when we arrived but it eventually warmed up to a 64 degrees. You could definitely tell who was from the Valley of the Sun and who was from colder climates. The locals were bundled up in sweat shirts of warm co...
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By Chuck Willman, NewHouseUtah.com
(Chuck Willman)
If I'm unfamiliar with something I want someone to give me a hand. Or at least a few rules of thumb. Such tips can be helpful as a guideline until one acquires enough familiarity to draw larger conclusions. Right now Arizona has quite a few bank owned properties on the market. These are homes that have been through foreclosure. Now the bank owns them. They have their own peculiarities... they are sold "as is"; What you see is what you get. They will most likely be priced lower than the other homes in the neighborhood. People may tell you that these are the bargain homes and that you can make low-ball offers and the bank is very willing to unload them at rock-bottom prices. I'm an agent. I'll make the offer you want to make... but there are a few trends, at least with regard to Arizona,...
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By Duke Fonner
(Alto Realty Group)
As you might expect, the affordability of homes in the Phoenix area is growing more 'buyer-friendly'. And it's a good bet that it will continue that trent through 2009. With historically low interest rates, much improved affordability, buyers are snapping up homes in all areas of the valley. First time home buyers are taking advantage of FHA loans and buying homes with loans under $271k (the FHA loan max in Maricopa County). The advantage of FHA loans is that they only require 3.5% down and have looser credit requirements. So FHA loans are the loans du jour for most buyers these days. Sidenote: Many of my California mortgage refinance clients are taking advantage of FHA loans, where loan limits are higher, up to $625k in some areas. Back to AZ home buyers... Even in more expensive areas...
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By Mike Bruen, Earning Trust & Delivering Results Since 1990
(Arizona Real Estate Consultant)
Kierland Real Estate,  Scottsdale Real Estate, Arizona Bank Owned Homes Kierland homes for sale is one of Arizona's premier location communities.  Kierland is an eclectic mix of premier shopping, dining, living and amenities.  Kierland is in prime location for all Scottsdale and Phoenix have to offer; Minutes form the Scottsdale airport, and surrounded by premier dining, entertainment, with premier shopping at Kierland Commons, not to mention a golfer's paradise surrounded by an abundance of the most popular golf courses in all of Arizona including it's own Kierland Golf Club. Kierland is also a popular destination for tourist as it is home to the Westin Kierland. For the real estate buyer there is a variety of choices from single family, town house, loft style and traditional condomini...
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By john trojan
(realty executives international)
Without a doubt if you were to ask 10 different people their perspective on the real estate market in Scottsdale, Arizona you would certainly get that...10 different perspectives. Truth be known, our market appears to have "dodged the big bullet" and we are experiencing 12-18% downturn versus the 28-36% turn some parts of the valley have been "shot at" of late. The good news is that there is positive activity and it appears the pricepoints most active are between $500,000.0 and $800,000.00. Clearly the second homes have been selling at a rapid pace thanks to our Canadian neighbours (not a typo, I am originally from Canada) who are capitalizing on the strength of the "looney" (Canadian dollar) and who recognize the investment opportunities in North Scottsdale and I am certain in most gol...
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By Michael Manfredi, Real Estate & Mortgage
(Michael A. Manfredi)
According to the National Reverse Mortgage Lenders Association (NRMLA) there is a new Bill containing a provision to raise the HECM (Reverse Mortgage) limit through the end of 2009 to $625,500 which has been introduced in the House of Representatives. The current nationwide limit is $417,000 with the exception of a few high price/value areas. This would give millions more access to the program due to a current lack of jumbo reverse mortgage in the marketplace which is due to the current credit crisis. The lending limit is the limit of value that would be considered in the reverse mortgage equation and not the loan amount. That is why the limit increase is crucial and if passed, senior borrowers with mortgage balances greater than $300,000 will qualify. In most cases, it has been my expe...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
When I first got into this business a decade ago, it didn't take long to encounter one of the favored pastimes of consumers and professionals alike:  Reveling in prices that once were. Whether it was the colleague pointing out a development where he lamented not purchasing five units back when they could be had for $75,000 apiece, or the investor who regretted selling that rental property years before now that it was worth three times as much, the underlying wish was to turn back the clock to grab as much Real Estate as humanly possible at the never to be seen again values. Of course, the downside to the markets that spawned the low price housing in Scottsdale in years past was diminished purchasing power due to elevated interest rates, and the speculative nature of our community.  Alwa...
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By Matt Horton, North Scottsdale Real Estate
(Platinum Living Realty)
DC Ranch Foreclosures, Short Sales, REO's www.dcranchforeclosures.com Compliments of Matt Horton-DC Ranch Realtor Area Expert John Hall & Associates 480-227-3311 I have a lot of clients that want to stay informed on DC Ranch deals! So here is the latest info on the area as of 1/24/09! If you are looking for a great deal on a home in DC Ranch, Silverleaf, Grayhawk, Troon or surrounding areas, give me a call. I scour the North Scottsdale area daily and provide updated information to my clients! To sign up for updated DC Ranch foreclosures, go to my website and sign up! They will go directly to your email daily! www.dcranchforeclosures.com. You can always call me or email me on your specific needs and we will give you free advice, market information, etc. info@thehortonteam.com DC RANCH FO...
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As a Phoenix real estate agent, it is my job to share accurate information to home buyers and sellers. Unfortunately, I cannot control the Phoenix real estate market, I can only provide the most detailed information to my clients and together make an informed decision. Understandably, people are nervous about the Phoenix real estate market. I would venture to say, a bit frightened if they read the newspapers and watch local television. However, I want not only may the doomsday media be wrong about the direction of the economy and real estate market, things are definitely not as bad as the news may have you believe. It was just a few months ago that oil prices hit $146/barrel and gas prices at the pump hit an average of nearly $4.50/gallon in many parts of the country. Further, everyone,...
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By Michael Manfredi, Real Estate & Mortgage
(Michael A. Manfredi)
All FNMA and Freddie Mac loans will be required to comply with the Home Valuation Code of Conduct (HVCC) effective May 1, 2009. The HVCC is anticipated to become an industry standard. For the full story or to view the HVCC in PDF format please visit www.reversemortgageconcepts.com.   Michael Manfredi Reverse Mortgage Concepts   9915 East Bell Road Suite 114Scottsdale, AZ 85260 480-306-4432 phone 480-306-4839 fax
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By James Wexler
(wexzilla.com)
  There is (only) one bright sides to dropping Phoenix real estate prices. Value, affordability and great real estate deals. Wait, that's 3. Oh well. Yesterday, the Case - Shiller home price index of 20 major U.S. cities released a report that showed Phoenix real estate home prices dropped a record in July from the previous July 2007.   Las Vegas and Phoenix , - remained the weakest cities, falling nearly 30% in the past year. As a result of these major price declines for Phoenix, Peoria, Glendale, Fountain Hills and even Scottsdale real estate, home buyers are stepping off the sidelines and becoming interested in Phoenix real estate. Phoenix Real estate buyers are looking for bargain basement prices and if Scottsdale or Paradise Valley homes become available at these major price discou...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
If you are like many potential home sellers I have spoken with over the past several months, you are leery of putting your home on the open market.  The crush of competition, the dirth of qualified buyers ... the constant state of panic that your home won't be in absolutely show ready condition when a buyer finally does show up after weeks of inactivity.  Perhaps you would like to move, but simply do not want the hassle associated with listing and marketing a home.  Basically, you would sell if a buyer fell from the sky (or internet), but don't want to be bothered otherwise. With you in mind, I am posting the needs of a few current buyers.  We've seen the current inventory for their criteria, but have yet to be blown away.  That's where you come in.   Buyer needs for the weekend of 1/16...
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By Michael Manfredi, Real Estate & Mortgage
(Michael A. Manfredi)
James A. Heist, assistant inspector general for HUD, testified before the Committee on Financial Services about concerns throughout the FHA program as the volume of insured single-family mortgages tripled from $59 billion in fiscal year 2007 to more than $180 billion in fiscal year 2008, which ended Sept. 30, 2008. He cited a critical need for more personnel and resources for the FHA. The increased demand is having "collateral implications for the integrity" of the Ginnie Mae mortgage-backed securities program. HUD "needs to consider the downstream risks to investors and financial institutions" Heist added. Increased demand on the Federal Housing Administration could lead to fraud and collateral risk in the HECM program, a HUD assistant inspector general warned a Congressional committee...
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By Matt Horton, North Scottsdale Real Estate
(Platinum Living Realty)
New Condo in DC Ranch for $385k (SAME UNITS SOLD AT $676k)    If you are looking for a great deal in DC Ranch, I just came across a BRAND NEW Condo right near Market Street for $385k!  Yes $385k!!!!! I know we are all trying to "time" the market to buy, but it would be hard to find anything comparable in the area for a lower price!  The key word is comparable! This is an incredible well built condo in North Scottsdale.  1500 sq.ft 2 Bedroom, 2 Bath If you are looking, have a parent, friend or investor looking to get into DC Ranch, this is truly a great opportunity.  Perfect 2nd home as well and walking distance to Market Street! Call Matt Horton at 480-227-3311 to set a time to view this property!  You can also email me for more info and to create your own custom search sent directly to...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
You want to buy a bank-owned property.  Your friends, family, mailman, dental hygienist ... even your Realtor have told you that the foreclosure market is where you pan for gold in this market.  Lo and behold, the hygienist might actually be right this time (bummer about that last hot stock tip, though).     I am actually a late convert to the bank-owned frenzy because I have long been wary of purchasing property that lacks the standard disclosures, maintenance ... and humanity, if you will.  Up until recently, it was often a mad rush for fool's gold, as well.  The allure of "cheap" often masked an unreported truth: many foreclosure properties were actually priced at, or even above, market value. Well, the worm has certainly turned.  So much so, in fact, that I find myself seeking out t...
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
Here are the December 2008 figures for the Scottsdale luxury home market. This analysis looks at single-family resale homes in Scottsdale priced $1,000,000 and above over the last twelve months.- DECEMBER 2008 -  Homes Priced Between $1,000,000 - $1,499,999- Actives: There were 518 active homes for sale, which is the lowest this figure has been over the last 12 months. The 12 month average is 580 active homes. The drop can be attributed to a healthy jump in sales as well as a significant number of expired listings. - Pendings: Pending homes for sale in this price segment were very down in December. There were 11 pending home sales, which is much lower than the 12 month average of 32.  - Sold: Sixteen homes sold in November. This was a very welcome jump over November's two home sales. Wh...
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