DOWN PAYMENT ASSISTANCE, TAX CREDITS AVAILABLE TO HELP YOU PURCHASE A HOME

MONEY IS AVAILABLE FOR DOWN PAYMENT AND CLOSING COST TO HELP YOUR PURCHASE A HOME!


Avondale, Phoenix, Mesa, Gilbert, Chandler and other Valley cities have money available to help you purchase a home through their neighborhood stabilization programs. What that means to you is $$$$ towards your new home purchase.

You have seen them; they are all around town, vacant homes, abandoned homes, foreclosed homes, etc. In order to keep the neighborhoods from being eye soars, breeding grounds for vandalism, or crime scenes, a conscience effort is being made to fill those properties with responsible buyers. This could be you!

Short of cash to purchase a home?

There are several programs available to help. President Obama signed The Worker, Homeownership, and Business Assistance Act of 2009 into law on Friday, November 6th to help strengthen the nation's economic recovery. It is anticipated, that by extending the first-time homeowner tax credit and expanding the program to cover current homeowners, the inventory of unsold homes will continue to be reduced and homeownership will continue to rise. The White House states that "residential housing investment grew 23 percent in the third quarter, one of the contributors to positive economic growth. The bill temporarily extends the $8,000 tax credit for first- time homebuyers for homes under contract by April 30, 2010.
It also expands the program to provide a $6,500 tax credit for existing homeowners if they have lived in their homes for at least five (5) years and want to "step up" to a new home. Again, the law states that homes must be under contract by April 30, 2010.

Additionally, it extends the same tax credits until May, 2011 to members of the "uniformed services whose duty takes them overseas."
Fraud in on the rise in many arena, and mortgage fraud is not an anomaly, therefore a measures designed to combat fraud and protect responsible homebuyers is a part of the President’s plan. One of his requirements is to limited home purchases to people who meets the minimum age requirements, and can produce "documentary proof of the purchase to receive the credit.

Who is eligible?

All U.S. citizens who file taxes.

Who is considered a "first time" homebuyer?

Anyone defined by law as buyers who have not owned a principal residence during the three-year period prior to the purchase. Who is considered an "existing" homebuyer?Anyone who has been living in their principal residence for five (5) consecutive years out of the last eight (8) and is purchasing a home to be their new principal residence.

Are there income limits?

Yes. Homebuyers filing taxes as a single or head-of-household can claim the full applicable credit for either of the tax credit programs if their modified adjusted gross income (MDGI) is less than $125,000. Single or head-of-household taxpayers with incomes between $125,000 and $145,000 are eligible for partial credit. For married couples filing jointly, combined income cannot exceed $225,000. Married couples whose combined incomes are between $225,000 and $245,000, and file a joint tax return are also eligible to receive a partial tax credit. Single taxpayers whose MAGI is greater than $145,000, and married couples filing a joint tax return with a MAGI over $245,000 are not eligible to participate in the program. What are the effective dates?Homes purchased after November 6, 2009 and before May 1, 2010 are eligible for the tax credit. Home purchases subject to a binding contract signed by April 30, 2010, will qualify if closing occurs before July 1, 2010.

What types of homes qualify?All homes with a purchase price of LESS THAN $800,000 qualify provided that the home will be used as the principal residence. Vacation homes and rental property purchases DO NOT qualify.

Is the tax credit refundable?

Yes... if the amount of income taxes owed is less than the credit amount a homebuyer qualified for, the government will send a check for the difference. All qualified homebuyers can take the tax credit on either their 2009 or 2010 tax return.

CALL ME FOR INFORMATION ON FUNDS AVAILABLE THROUGH VARIOUS CITY PROGRAMS TO GIVEN TOWARDS YOUR DOWN PAYMENT AND CLOSING COST.

CYNTHIA SMITHERMAN, ABR, GRI, DB, CPDE, ASP, C-REO , REALTOR, REALIST, VP-AAREB.
602 697-4487 OR EMAIL:Cynthia@emagehomes.com
http://www.homes4saleaz.com/
equal opportunity real estate agency

Housing Tax Credit Working, So Keep Momentum Going, NAR Urges Congress

As REALTORS we work hard to help our community realize the dream of homeownership. These are the words of our the National Association Realtors President. We will keep you updated.

Housing Tax Credit Working, So Keep Momentum Going, NAR Urges Congress

FHA ANTI-FLIP RULE

This article was posted by a Loan Consultant on Active Rain, I thought it would be a good thing to repost for those who missed it.

TED CANTO, Sr. Loan Consultant (Academy Mortgage):
90 Day FHA Anti-Flipping Rule: Can you finance FHA before the 90 days?

I do not mean to kick the dead horse while it is being buried but my previous post on the 90 Day FHA Anti-Flipping rule generated 4300+ hits, so of course I stopped kicking the horse and went to the next farm to milk the cow. Obviously you know this is a hot topic in our industry and we are always hoping the rule just goes away. However, it will not. The important thing here is to understand it, embrace it and work with the lemons that are handed to us. OK OK!! I will tell you what this post is about already.

In regards to the FHA 90 Day Anti-Flipping Rule, FHA is mainly concerned with the date in which the sale has been bonafide NOT the recording date. However, I will put the disclaimer on this statement. Most banks do not intepret the rule for what it is. Based on FHA's interpretation, some lenders will indeed allow the loan to fund with an FHA loan. However, most banks' internal policies do not allow this to occur, they instead base their decision on the recording date not the SETTLEMENT DATE.

"If the owner sells a property within 90 days after the date of acquisition, that property is not eligible security for a mortgage insured by FHA unless it falls within one of the exceptions to the time restrictions on resales set forth in §203.37a(c) of the regulations. FHA defines the seller's date of acquisition as the date of settlement on the seller's purchase of that property. The resale date is the date of execution of the sales contract by the buyer that will result in a mortgage to be insured by FHA."

If this does not make sense, allow me to break it down for you:

Typical Scenario:

Investor buys property and sale is executed on September 2nd (Settlement Date)
Deed/ Title is recorded on September 30th
Seller writes contract on December 3rd and attempts to close the transaction on December 15th and gets stuck due to the lender not allowing the sale (ie: sale date is not January 1st)

The way the rule actually works:

Investor buys property and sale is executed on September 2nd (Settlement Date)
Deed/ Title is recorded on September 30th
Seller writes contract on December 3rd (91 Days after settlement) and closes the transaction on December 15th per FHA guidelines NOT January 1st (which most lenders will limit you to).
SOLD!!

If you have any questions or interested in learning if your property fit into this box, contact Ted to review.

If you are looking to purchase a home, contact Cynthia at:

Emage` Fine Properties, LLC

602 697-4487

http://www.homes4saleaz.com/

Home Equity Conversion Mortgage Program - HUD

I helped my parents get a Reverse Mortgage - they now live a worry free lifestyle. It was quite easy to get this set up for them. We called a local mortgage company that specializes in Reverse Mortgages. The attended counseling prior to signing up, and within three (3) weeks, they were worry free. In fact, they received over $20,000 for their nest egg. To sweeten the pot, they pulled equity out of their home two more times totaling $50,000. They live in a lovely Condo in a gated community with 2 Bedrooms, 2 Bath, single level, large living room, family room, and a one car garage. The community has tennis courts, 3 golf courses, state of the art fitness center, and much more. Here is how the Reverse Works:

The Home Equity Conversion Mortgage (HECM) program enables older homeowners to withdraw some of the equity in their home in the form of monthly payments for life or a fixed term, or in a lump sum, or through a line of credit.
In addition, the HECM mortgage can be used to purchase a primary home when the borrower is 62 years of age or older and is able to use cash in hand to pay the difference between the reverse mortgage and the sales price plus closing costs for the property.

Purpose: To be eligible for a HECM mortgage, current homeowners must be 62 years of age or older, own their home outright or have a low mortgage balance that can be paid off at closing with proceeds from the reverse mortgage. The home must be their principal residence. In addition, the HECM can be used to purchase a primary home if the borrower is able to use cash in hand to pay the difference between the HECM and the sales price and closing costs for the property.

The program requires that borrowers either receive free or low cost reverse mortgage housing counseling from a HUD approved reverse mortgage counseling agency before applying for a reverse mortgage. FHA insures HECM loans to protect lenders against loss if amounts withdrawn exceed equity when the property is sold.
Type of Assistance: HECM can be used by homeowners who are 62 years of age and older. The total income that an owner can receive through HECM is the maximum claim amount, which is calculated with a formula including the age of the owner(s), the interest rate, and the value of the home.

Borrowers may choose one of five payment options: (1) tenure, which gives the borrower a monthly payment from the lender for as long as the borrower lives and continues to occupy the home as a principal residence; (2) term, which gives the borrower monthly payments for a fixed period selected by the borrower; (3) line of credit, which allows the borrower to make withdrawals up to a maximum amount, at times and in amounts of the borrower's choosing; (4) modified tenure, which combines the tenure option with a line of credit; and (5) modified term, which combines the term option with a line of credit.

The borrower remains the owner of the home and may sell it and move at any time, keeping the sales proceeds that exceed the mortgage balance. A borrower cannot be forced to sell the home to pay off the mortgage, even if the mortgage balance grows to exceed the value of the property. A HECM loan need not be repaid until the borrower moves, sells, or dies. When the loan must be paid, if it exceeds the value of the property, the borrower (or the heirs) will owe no more than the value of the property, if they sell the property to repay the loan.

Two mortgage insurance premiums are collected to pay for HECM: an upfront premium (2 percent of the home's value), and a monthly premium (which equals 0.5 percent per year of the mortgage balance).
A lender can charge an origination fee up to $2,500 if the home's appraised value is less than $125,000. If the home is valued at more than $125,000, lenders can charge 2% of the first $200,000 of the home's value plus 1% of the amount over $200,000. HECM origination fees are capped at $6,000.
All HECM borrowers are required to complete reverse mortgage counseling through a HUD approved housing counseling agency.

Eligible Customers: To be eligible for HECM, a homeowner must (1) be 62 years of age or older, (2) have a low outstanding mortgage balance or own their home free and clear, and (3) have received HUD approved reverse mortgage counseling to learn about the program.
An eligible property must be a principal residence, but it can be a single family residence, a one to four -unit building with one unit occupied by the borrower, a manufactured home, a unit in an FHA approved condominium, or a unit in a planned unit development. The property must meet FHA standards, but the owner can pay for repairs using the reverse mortgage.

Application: Borrowers who meet the eligibility criteria above can apply through an FHA HECM approved lending institution. Borrowers can locate FHA approved lenders through HUD's searchable listing.
Technical Guidance: This program is authorized by the Housing and Community Development Act of 1987, Section 417, Public Law 100-242 (12 U.S.C. 1715z-20). Program regulations are in 24 CFR 200 and 206.
For More Information: Homeowners who want to learn more about this program should call HUD's toll-free housing counseling information line, (800) 569-4287 or see the searchable list of HUD approved reverse mortgage housing counseling agencies.
Additional information is available from AARP's Home Equity Conversion Information Center (202) 434-6044.

If you are looking for a Condo in a retirement community, I have another 3 BR, 2BA, 1400+ sf, in the same community for just $125,000. Call Cynthia Smitherman, CDPE, ABR, GRI, DB at 602 697-4487.

Emage` Fine Properties, LLC
http://www.homes4saleaz.com/

HOMES FOR POLICE OFFICERS, FIRE FIGHTERS AND MEDICAL PERSONNEL

The Neighbor Next Door initiatives are a collection of FHA's home sales programs designed to help communities and promote homeownership.
If you are a law enforcement officers, firefighter, emergency medical technicians or teachers you have an opportunity to purchase homes in these communities where homes are set aside for you in helping to revitalize a community. HUD provides a substantial incentive in the form of a fifty percent discount off the list price of eligible properties.

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

How the Program Works

Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program.

You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD's regulations for the program.HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement.

For more information contact:

Cynthia Smitherman, CDPE, ABR, GRI, DB,VP AAREB

Emage` Fine Properties, LLC

602 697-4487

http://www.homes4saleaz.com/

WHAT WE HAVE DONE FOR OURSELVES ALONE DIES WITH US - WHAT WE DO FOR OTHERS IS IMMORTAL

What We Have Done For Ourselves Alone Dies With Us- What We Do For Others is Immortal

As service industry specialist in the area of Real Estate, we orchestrate wonderful things for perfect strangers. Contrary to all the negative comments from disgruntled people regarding Real Estate Agents, our hearts are in the right place. I have been through weddings, divorces, births, and death with my clients. I have seen them happy, sad, broke, prosperous, employed and unemployed. I have seen them healthy, and I have seen them ill.

My clients become more than business acquaintances, many have become very dear to me. One couple who I secretly refer to as "My Kids", experienced my fussing over them like a mother hen when helping them purchase their first two homes. I watched their children grow from toddlers, to pre-high school-er, and soon to be high schoolers.

I have another family who I am also very fond of, and genuinely am happy to hear from when they call just to say hello. It warms my heart when they ask of my family by name, one by one. It let's me know they care enough to remeber that my father has cancer, or that my son is a Chef, they care enough to ask of my husband, and lastly to ask how I am doing. To them, I am more than the lady that helped them purchase a home. I am their friend.

I have helped many people with different nationalities, different educational backgrounds, different religions, and different political views than me. However, there is always a common bond that transcends any culture, or politcal differences; that bond is genuine respect, and admiration.

So I can honestly say, that I am Proud to be a REALTOR, the rewards are greater than any commission, my greatest reward is that I can honestly say, my clients are truly friends and have become a part of my extended family.

Cynthia Smitherman, CDPE, ABR, GRI, DB, VP. AAREB

REALTOR, REALTIST. 602 697-4487 http://www.homes4saleaz.com/

HUD Dollar Home Programs Offers Discount Programs to Buyers

When I was in my mid twenties, I remember my friends being able to purchase homes in the neighborhood for just $1.00. I really did not understand how this concept worked, or even why, but it did. Every so often we would see individuals fixing up an vacant home, and within weeks, a new family was there. Everyone knew it was purchased for just $1.00.

As a Real Estate professional, I realize how much of a benefit the dollar program can be to low to moderate income people. With a little elbow grease, they too can capture the American Dream of home ownership. I feel today, with the condition of our housing market and the over flow of vacant homes, this leaves an opportunity for many people who could not otherwise purchase a home.

In Arizona, the program works a little different; here is how it works according to HUD:


HUD's Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each. Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months.

By selling vacant homes for $1 after six months on the market, HUD makes it possible for communities to fix up the homes and put them to good use at a considerable savings. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area.
Local governments can partner with local nonprofit home ownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community.

To find out how HUD Home Programs Offers Discounts Programs to Buyers, contact your local HUD real estate broker.

Emage` Fine Properties, LLC is a HUD real estate broker call today to get your free list of HUD homes.

602 697-4487

http://www.homes4saleaz.com/

FORECLOSURE HELP AVAILABLE FROM AREA EXPERT

FOR RELEASE: IMMEDIATE
DATE: September 17, 2009

For more information, please contact: 602 697-4487

CYNTHIA SMITHERMAN EARNS PRESTIGIOUS DESIGNATION TO

HELP HOMEOWNERS IN DANGER OF FORECLOSURE

CYNTHIA SMITHERMAN of EMAGE` FINE PROPERTIES, LLC of CHANDLER, ARIZONA has earned the prestigious Certified Distressed Property Expert (CDPE) designation, after completing extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Phoenix metro area there are thousands of homes in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said SMITHERMAN. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as CYNTHIA SMITHERMAN with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible. If you are facing foreclosure call today, these services are offer at no cost to the homeowner.

Contact foreclosure expert

Cynthia Smitherman, DB, CDPE, ABR, GRI, Vice President, AAREB, REALTIST

Emage` Fine Properties, LLC

602 697-4487

http://www.homes4saleaz.com/

LEISURE WORLD - 55+ COMMUNITY

A few years ago, I talked my parents into moving from the cold snow belt in Indiana to the sunny skies of Arizona. My father who incidentally did not want to move because he enjoyed "THE CHANGE OF SEASONS" made the move reluctantly until he got here and then decided that it was the best move he ever made.



Personally, I really could not find the joy in three layers of sweaters, a fir lined coat, two layers of pants, three layers of socks, inside my fir lined boots and a pair of gloves inside my mittens, all of this just to go to the grocery store to get a gallon of milk.



Now if you live in the Phoenix metro area, you don't know what I am talking about; but if you live in Michigan, Wisconsin, Illinois, Indiana, Ohio, Kansas, Missouri the Dakotas, and Canada - you can relate.
In Phoenix, we have residents who live in Leisure World only during certain months, we call them snowbirds; they fly to Leisure World during the winter months, and fly to the other home during the summer months.




Where are you flying to Frank?






To Relax at Leisure World for the Winter months!




I personally can not think of a better way to enjoy all the seasons than we do in the diverse state called Arizona. In the high country, Flagstaff, Pinetop, even Sedona, you can enjoy the fall leaves turning against the blue skies, dotted with puffy white clouds with with a hint of color from the reflection of the sun, as well as breathtaking mountain views with snow capped mountains in the very near distance. Additionally at the same time, you can enjoy flowers blooming in Phoenix in the winter months.



Leisure World has many amenities: Tennis courts, basketball courts, billiards, swimming pools, lawn bowling leagues, travel clubs, computer training on site, wood workshop for those who like to make furniture, card rooms with bridge tournaments, travel club, photography club, in house movie theater, state of the art exercise rooms, dance, and yoga, classes and more.









"4" Ball in the Corner Pocket Jacuzzi





Learn the latest dances in Leisure World Dance Studio



Leisure World is a 24 hr guarded, gated, age restrictive community.
Listed is a 3 Bedrooms, 2 Baths, 2 Car Garage, 1464 sq ft., all on one level, neutral carpet, lots of windows, appliances stay and maintainance free for $125,000. Seller is motivated - call today! This property is located in Mesa, Arizona just a few steps from the Superstition Mall, restaurants, and only a quarter of a mile from the freeway. To see this listing, please visit my website: http://www.homes4saleaz.com/


Cynthia Smitherman, ABR, GRI, DB
, VP, AAREB,



Emage` Fine Properties, LLC
http://www.homes4saleaz.com/ 602 697-4487
email me for more listings of Valley wide retirement communities at cynthia@emagehomes.com for a complete list of 55+ Communities.

FIRST STEPS IN PURCHASING A HOME IN ARIZONA

FIRST STEPS TO PURCHASING A HOME IN ARIZONA (edit/delete)
Perhaps you have been thinking of taking the first steps to purchasing a home in Arizona, after all you have been renting apartments for several years. Most people are perplexed as to how to get started and of course the unknown is always daunting. Here is a step by step guide to becoming a successful home buyer:

1. Get counseling from a housing agency: They will teach you how to read your credit report and the importance of your credit score. You will also learn how to avoid predatory lenders, loan delinquency and foreclosure. You will be able to meet one on one with a counselor who will guide you through your first steps in purchasing a home in Arizona from the beginning to the end so when you do meet with your real estate professional and the Lender of your choice, you will be well prepared.

2. Get pre-qualified with a mortgage specialist: It is important to know what your budget will allow in terms of buying power. Your housing counselor will set the foundation for your budget, but your lender will be able to put pen to paper and show you how much you will be paying per month based upon your incoming and outgoing expenses as well as other factors relating to the type of loan you will be receiving. Your Lender will also advise you as to how much money you will need as down payment and closing cost.

3. Choose a city where you would like to live: If you live in a metropolitan city like Phoenix, Arizona, you will have 21 cities to choose from. Your selections may be based upon the proximity to your job, social setting, or school for the children. When selecting the city, you would want to ask your Lender if there are any special city based programs or grants available to help you defray some, or all of your closing cost.

4. Select your REALTOR: There is a difference between working with a REALTOR opposed to working with a real estate agent. REALTORS belong to a national organization that requires a certain standard, and code of ethics to abide by. You will find that nearly all REALTORS have additional training over and above of what is required by the Arizona Department of Real Estate. The additional education is indicated by designations (letters that follows the REALTOR's name in print) such as ABR, GRI, DB, CRS, etc. You will find comfort in knowing your REALTOR is up to date on the rules and regulations that protect your interest. Each REALTOR, as a condition to keeping their license in good standing are encouraged to take education classes each month, however they required to attend a certain amount of classroom hours to renew their license prior to its expiration.

You would want to look for a real estate professional who has experience working with buyers, and will listen to what you want, and not what they want you to have. Purchasing a house is a huge investment, therefore you want to get exactly what you desire, if at all possible. Your real estate professional is trained to guide you through the In's and outs of real estate, she will work closely with your mortgage lender and help you stay within the parameters set by you and the mortgage lender.

5. View homes: With the Internet being readily accessible, you can look for houses in the comfort house before you and your REALTOR actually visiting a house in person. Do not visit homes, or home builders without your REALTOR; and definitely do not sign any documents without your REALTOR being present. Your REALTOR has been trained and approved by the National Association of REALTORS (NAR) and the Arizona Department of Real Estate to practice real estate law as it applies in Arizona. Therefore your REALTOR knows how to point out various items that may be material to your decision making process.

6. Select a home, and submit a contract to purchase. In Arizona the contract is nine (9) pages in length, and contains items that are designed to protect your interest, and to treat the Seller fairly. Of course your Agent would be considered a Buyer's Agent, and will negotiate with the Seller's Agent on your behalf to get you the best deal possible.

7. Upon acceptance of your contract, good faith money, better known as earnest deposit is submitted along with the contract to the title company. The title company will start the process of searching whether or not the home can be transferred from the Seller to the Buyer with a marketable title.

8. Order a home inspection: Your REALTOR will strongly suggest that you hire a good home inspector who will inspect every inch of the home you have selected, and will tell you of the pros an cons of the home. Based upon that inspection, you will decide whether or not you will continue with the purchase, or allow the Seller to correct major issues. Additionally your REALTOR will advise you as to the time lines you are to respond to the Seller for those repairs.

9. Lender Approves the Loan - Your close of escrow is near, the title company has given you a satisfactory report, the Lender has approved the loan and you are scheduled to sign your documents; your pledge to pay, etc.

10. The Loan Funds, you are handed the keys and you have had an easy, wonderful experience.

Now I know you have probably heard war stories about how hard or horrible the home buying process may be. There are many factors that can cause the steps outlined above to deviate. Credit issues uncovered at the last minute, or the Seller not agreeing to repairing the home which may cause you to re-negotiate the offered price on the home. However a seasoned REALTOR is prepared to help you through any hurdles you may encounter.

In a normal real estate market (which is not today's market) it would take approximately 45 days to complete the process of purchasing a home. However in today's market, with so many short sales, and foreclosures, it may take any where from 60-120 days to close on a home purchase.

For more information on the First Steps to Purchasing a Home in Arizona or how to contact a housing ccounselor Call 602 697-4487
Cynthia Smitherman, ABR, GRI, DB, VP, AAREB

Emage` Fine Properties, LLC
http://www.homes4saleaz.com/
cynthia@emagehomes.com
WE CARE ABOUT YOU, AND ARE NOT AFRAID TO SHOW IT!

EDUCATION OPPORTUNITIES FOR MINORITY STUDENTS

Education is the key to success, it is important to be qualified for the type of career you want to pursue. If money is an obstacle to furthering your education, then here is an opportunity; you must act quickly.

Wake Forest University has an opportunity for minority students to attend its MBA program for FREE, and so far, the response has been very poor. Please pass along this opportunity to your friends, families, and networks to see if there is an interest. This is a great school and a tremendous opportunity to attend a top graduate school. See details below. The contact person is: Derrick S. Boone, Ph.D. Associate Professor of Marketing Room 3139 Worrell Professional Center Babcock Graduate School of Management Wake Forest University 1834 Wake Forest Drive Winston-Salem , NC 27109-8758 derrick.boone@mba.wfu.edu http://mba.wfu.edu/ Telephone - 336.758.4475 Fax - 336.758.4514 I wanted to let you know about a great opportunity here at Wake Forest where you can get a FREE education and get PAID while you're doing it. Our Dean of the Schools of Business is the former CEO of PepsiCo and very committed to diversity. He's gone around to his CEO friends, who have agreed to donate a bunch of money to pay tuition and fees, provide a stipend and a job to diverse students. The details are below. The problem is, response to the program has been dismal! As a faculty member, I would be embarrassed for him to have to tell his CEO friends, "thanks so much for your donation, but unfortunately I have to give it back because we couldn't find any students who wanted it." Don't worry about whether or not you have taken the GMAT, etc. All you need to do at this point is JUST APPLY. In business, you have to act when the opportunity is presented and that is now. The Master of Art in Management program is designed specifically for liberal arts majors only. The MA degree program is a 10-month intense study of the basic functional areas of business. After graduation and working for approximately two years, all MA graduates are eligible to apply to Wake Forest as part of the MA/MBA joint degree program and get the MBA in one year. The new dean, Steve Reinemund, has created a new scholarship for diverse students pursuing the MA degree called the Corporate Fellowship. The Corporate Fellowship provides full tuition and a $21,000 stipend to cover living expenses. Additionally, each Corporate Fellow will participate in a practicum. The practicum has two components, educational and professional development. Each student will be assigned a mentor that is a high level executive with his or her sponsor corporation. The mentor will oversee an educational project covering four of the functional areas of business using their own corporation as the ! subject. The student will visit the corporation 3 - 4 times during the program to present his/her results of their research project. Additionally, the "professional development" component of the fellowship provides career coaching and leadership development for the students. The goal for the corporation is to be able to groom and hopefully hire a top candidate from a diverse background for their organization. Of course, there is no obligation that the students accept any offer of employment. Still, the student benefits, even if their sponsor corporation does not ultimately hire them in that they have the MA degree and the type of experience that will make them more marketable.

MAN BITES DOG

MAN BITES DOG

That's an interesting title. Man Bites Dog is actually the name of a card game that my husband and I play when entertaining guest at our home. The object of the game is to make headlines from the cards you are dealt. Hey they sounds like blogging and real estate. In real estate you are dealt cards; you have to make things happen with what you have. Now this article is not about a man actually biting a dog, but how animals are bitten, so to speak, by abandonment.

In real estate we owe our fiduciary to our client and his family, we are to be honest, confidential and to protect from harms way as far as any real estate transactions we are, or will, or were involved in. Does that also apply to the four (4) legged member of that household? Of course there is no confidentiality, or honesty involved, but what about protect?

Hmmmm, protect, what does that mean? Let's suppose you list a property on a short sale that is due to foreclose in the very near future. The Seller advises you that they are moving out of state and the home will be vacant by the end of the week.

Few days later you enter the home to access the condition, and who meets you at the door? FLUFFY!

Fluffy is hungry, dehydrated and scared. He is so thirsty that when he "meows", his voice cracks as a result of a parched throat. SO WHAT WOULD YOU DO? a) Immediately shut the door and pretend you didn't know; b) Take Fluffy home with you; c) Call the Seller and give him a piece of your mind; d) Call the Shelter to pick up the cat?

Thousands upon thousands of animals are abandoned each year, and the numbers will get higher as the foreclosure rates increase. As a real estate practitioner, I feel that we have responsibilities to our client, the customer, and the extended family; yes even their animals.

If you find that the family leaves their pets, it can be as a result of one or two reasons; 1) They could not find the animal at the time they left - (surely they would ask you to watch out for the pet or 2) Abandonment - they had no intention of taking the animals.

We are fortunate that here in the Phoenix, metro area, there are several agencies to help distressed animals. For dogs: http://www.valleydogs.org/ and for other animals http://www.animalrescuecenter.org/ . If you find you are looking in the big brown eyes of Fido, or Fluffy - don't become the Man Bites Dog headline - be a rescurer!

I have homes for sale throughout the Valley whose pets have found loving homes, please visit my website: http://www.homes4saleaz.com/ to give your pet a new home.

HOUSING PRICES ARE LOW IN PHOENIX, ARIZONA

HOUSING PRICES ARE LOW IN PHOENIX, ARIZONA

Why are housing so low in Phoenix, Arizona? I am asked this question over and over again from people who live in other parts of the United States, and abroad. "Why are the prices of the houses in Phoenix, Arizona so low? I say they are not low, they are normal! Yes, I said normal. I am not losing my mind, I am perfectly sane. Phoenix has always had wonderful pricing on homes, that is why we have grown by leaps and bounds in terms of our population. Affordable homes, in a warm climate, with beautiful winters, gorgeous blues skies and mountains galore is what keeps people flocking to the twenty-one (21) cities affiliated with the Phoenix metro area.

Greed, inflation, ignorance, and the old theory of supply and demand is what drove the home prices through the roof. As a result of these acts, Phoenix sadly carries the title of being one of the top foreclosure capitals of the USA. Yes, Phoenix, Arizona is on the map as a state that has the second highest rate in foreclosures.

How did this happen? Well, there are many theories as to why we are in this dilemma, here are a few:

1) The Investors Did It; they depleted the inventory by purchasing four, five, six homes in new home subdivisions which spurred a bidding war between the Investor and the Local Home Buyers; the "old supply and demand" theory, prices go up when inventory goes down,

2) The "Out of Towners Did it; they saw that housing prices were so low that they purchased all the inventory which caused a bidding war between the Out of Towners, Investors and the Local Home Buyers; again, the "old supply and demand" theory, prices go up when inventory goes down,

3) The Lenders Did it; they financed homes for people who could not afford the houses that were over priced due to the bidding wars between the Out of Towners, the Investors and the Local Home Buyers; again, the "old supply and demand" theory, prices go up when inventory goes down,

4) The Appraiser Did It; they were in cahoots with the Lenders who gave the pricing guidelines for the houses that the "Out of Towners, the Investors and the Local Home Buyer purchased,

5) The REALTORS Did it; because they sold the homes to the Out of Towners, Investors, and the Local Home Buyer who got the money from the Lenders at the prices that the Appraiser set as the pricing guidelines ..... and on and on, and on.

The facts are cloudy as to WHY it happened, but IT DID happen, and we are now paying the price - or are we?

If you look at what the housing prices were in 2004 at the time before the housing boom, we are pretty much where we would have been in pricing if we had stayed on a normal course of inflation and equity building. Exception are short sales which are considerably lower than most bank owned or seller owned properties on the market for sale today.

The challenge lies in home owners owing more to the mortgage companies than what the homes are current being valued in terms of sales. Most homeowners are upside down on their mortgages; owe more on the home than what similar homes are selling for in a community.

Additionally, a great number of homes that are currently in foreclosure were financed with subprime loans where rates have adjusted to record breaking heights with more adjusting to be levied between now and 2011. When those loans adjust, the mortgage payments will be unapproachable by the homeowner, subsequently he will lose the home adding to more unsold inventory.

Oh by the way, the Investor couldn't make money on the homes, so he dumped the homes back in the market, or abandoned them completely. And a home buyer today who is looking to purchase a home, is ..... well, he is sitting pretty.

He is sitting pretty because today, he can buy a home for almost half the price that the original buyer purchased it for during the housing boom. Additionally, a buyer can catch a better deal if the Seller convinces the mortgage company to accept a lower pay off on the home. This type of procedure is known as a "short sale", which can help the new buyer save even more money on the purchase of a home.

Example of a Short Sale Pricing





6BR, 4 BA, 3735sf, built 2005, Original Purchase Price $224,160, on sale for $84,500. Pricing is subject to Lender Approval on a Short Sale.

So in answer to your question as to why HOUSING PRICES ARE LOW IN PHOENIX, ARIZONA, it can be explained in one word

F-O-R-E-C-L-O-S-U-R-E-S.

IT'S IN MY BONES

Often times I stand in front of my mirror to see if I could catch a glimpse of my ancestors as though their reflection would suddenly appear in the background behind my image. Of course I can see my physical resemblances of my parents, grandparents, and siblings, but what about the originals whose shoulders I stand on today who gave their lives to elevate me. What do they look like, what were their values, and accomplishments.

TRAIL BLAZER

In looking at my family history, I find many accomplishments from as early as the 1800's, where my Great Uncle James Carroll Napier co-founded the first savings and loan in Tennessee, which is now the Citizens Bank in Tennessee.

Did you know, that there were five African- Americans whose signatures appeared on U.S. Currency? Here is the best part, my great uncle James Carroll Napier was one of them! The other three were Blanche K. Bruce, Judson W. Lyons, and William T. Vernon and the only female Azie Taylor Morton. These distinguished African Americans served as Registers of the Treasury. Today the $2.00 Silver Certificate where my Great Uncle's signature appears is a rare collectors items worth $1999.

Great Uncle James Carroll Napier
















My great grandmother S0phie Napier Watkins was the niece of James Carroll Napier and was the Cook at the Helen Keller estate, during Helen's youth. Because of the perseverance of my cousin Thomas McKnight she is now being honored by having her picture posted at the "cooks" house at the Keller museum in Tuscumbia, Alabama. Today when I have the opportunity to watch the movie "The Miracle Worker", staring Pattie Duke and Ann Sullivan, I still cry because I am able to visualize their presence there. My great grandfather, Sophie's husband was a preacher, a self sustaining black man in Alabama - imagine that!




(See article)http://www.timesdaily.com/article/20081013/ARTICLES/810130317/0/NEWS#



Sometimes when speaking with my peers, the conversation would always come around to heritage. Some people would say they were part Irish, or German, part this, part that, and I would respond by saying I am part "everything". I started out African and finished African American. What that means is I am all nationalities; I come from many, and yet know of a few. However the few I do know have touched the lives of others through their works, and their tenacity to excel in adverse conditions.





They were cooks, bankers, preachers, and maybe even Kings of their beloved Africa. They suffered much, achieved more, and left a resounding message to their decedents that all things are possible, never give up, and make your own dreams come true.

I live by that credo when working with my clients in real estate, I believe in honesty, hard work and integrity and never giving up. So when I look in the mirror, I do see their reflection in everything I do, because after all it is in my blood, it is my heritage, and is a legacy I will not let die because .......

IT'S IN MY BONES.












































































































































http://www.usrarecurrency.com/1899$2SilverCertificateFR253CGACU64SnE57082746.htm

A Diamond in the Desert - Phoenix Metro Area

I have always been facinated with the southwest and used to travel through the Southwest from the Midwest on my way to California each year for our vacation. The Southwest has so many things to see; the Painted Desert, Petrofied Forest, The Grand Canyon, the Crater, and of course my beloved Phoenix, Arizona.

In 1997 I decided to hitch my wagon to the back of my trusty steed named "Buick" to make the journey to Phoenix. It was an easy journey inpart except my horseless buggy coughed and gagged with each mountain I would pull. I was not only facinated by the terrain, but the local wild life as well, particulary the friendly Turkeys that followed me down the road.

JUST KIDDING!

However, in comparison to the pioneers who blazed the trails many years prior to my journey, my trip was a piece of cake.

WATER IN THE DESERT

Somewhere around 300 AD, the Hohokam Native American settled in Phoenix where they build miles of waterways by capturing water from the Salt River, which allowed them to grow crops and expand their villages. Unfortunately Today, this ancient tribe has mysteriously vanished, with very few theories of what may have cause them to disappear. The Pima Indians are thought to be the direct decendants of the Hohokam.

Today, I look at the mountains and marvel at how the settlers pulled their wagons over the rocky terraine, and how the heatmust have been unbearable - after all my Buick had air conditioning. What really facinates me is the vision they had that turned dust, tumble weeds, and cactus into a town and eventually the beautiful city of Phoenix.

Phoenix is the capital of Arizona and is located on the upper edge of the Sonoran Desert. The city itself is surrounded by 22 other cities and the entire area is affectionally know as the Valley of the Sun. According to the last census, Phoenix had a population of 1,321,045 with 495,832 housing units; a land area land area of 474.86 sq. miles; and a water area of 0.23 sq. miles. There are said to be over 200 golf courses where many of them have been designed by Robert Trent Jones , Jack Nicklas and Arnold Palmer.

Phoenix certainly is a wonderful place to vacation and live. For the sports minded person, Phoenix is the home of the Phoenix Suns, Phoenix Cardinals, Diamond Back Baseball Team, Phoenix Mercury and the Phoenix Coyotes. It also is the home of many minor league baseball teams and spring training location for many baseball teams across the USA.

You don't have to travel to Las Vegas to gamble, although Las Vegas is less than an hour away by air. Phoenix metro has several casinos that are open 24 hrs for your pleasure. Looking for the ocean? It is not in Phoenix, but it is less than a hour away in California. However Arizona has over 30 man made lakes where you can fish, and enjoy boating activities.

In the Phoenix area there is Lake Pleasant Regional Park which offers 23,662 acres of ideal boating and camping opportunities. It has 10,000 acres of crystal clear-water where visitors can enjoy water skiing, jet skiing, sailing, or fishing. Lake Pleasant offers over 140 developed sites for RV and tent camping.

Housing opportunities are abundant in the Phoenix Metro with many choices. If you are looking for golf course or retirement communities, single family homes, Condo's, Townhomes, or luxury homes, Phoenix and its 20+ cities has it all.

To get a comprehensive list of homes available visit http://www.homes4saleaz.com/

LIFE'S LESSONS

LESSIONS THAT CHILDREN HAVE LEARNED:

1) No matter how hard you try, you can't baptize cats




2) When your Mom is mad at your Dad, don't let her brush your.... hair.....

3) If your sister hits you, don't hit her back. They always catch the second person.

4) Never ask your 3-year old brother to hold a tomato..................




5) You can't trust dogs to watch your food..........................



6) Don't sneeze when someone is cutting your hair......................


7) Never hold a Dust-Buster and a cat at the same time..............



8) You can't hide a piece of broccoli in a glass of milk............



9) Don't wear polka-dot underwear under white shorts................


.10) The best place to be when you're sad is Grandpa's lap..........




GREAT TRUTHS THAT ADULTS HAVE LEARNED:






1) Raising teenagers is like nailing jelly to a tree.




2) Wrinkles don't hurt.

3) Families are like fudge...mostly sweet, with a few nuts

4) Today's mighty oak is just yesterday's nut that held its ground.. ..


5) Laughing is good exercise. It's like jogging on the inside.

6) Middle age is when you choose your cereal for the fiber, not the toy

GREAT TRUTHS ABOUT GROWING OLD


1) Growing old is mandatory; growing up is optional..


2) Forget the health food. I need all the preservatives I can get.


3) When you fall down, you wonder what else you can do while you're down there.


4) You're getting old when you get the same sensation from a rocking chair that you once got from a roller coaster.


5) It's frustrating when you know all the answers but nobody bothers to ask you the questions.


6) Time may be a great healer, but it's a lousy beautician


7) Wisdom comes with age, but sometimes age comes alone.



THE FOUR STAGES OF LIFE:



1) You believe in Santa Claus.











2) You don't believe in Santa Claus.






3) You are Santa Claus.






4) You look like Santa Claus.



SUCCESS:


At age 4 success is . . . . not piddling in your pants. At age 12 success is . . . having friends. At age 17 success is . .. having a driver's license. At age 35 success is . .. . .having money. At age 50 success is . . having money. At age 70 success is . . . having a drivers license. At age 75 success is . .. . having friends. At age 80 success is . .. . not piddling in your pants.

Always remember to forget the troubles that pass your way; BUT NEVER forget the blessings that come each day. Have a wonderful day with many ! *smiles* Take the time to live!!!Life is too short.



Dance naked. woo-hoo!
Author unknown

10 Tips on Finding Your Style : Decorating : Home & Garden Television

10 Tips on Finding Your Style : Decorating : Home & Garden Television

HGTV Ideas Newsletter - July 8, 2009

HGTV Ideas Newsletter - July 8, 2009

Thank you for taking time out of your busy day to read my Blog. My relationship with my clients and customers goes beyond the sale; I love helping them turn their houses into homes. Adding color through accents can change the personality of your living space. Colorful walls, pillows, rugs, throws are wonderful ways to give a room the punch needed to turn dull rooms to outstanding rooms.

Please enjoy the newsletter, and please don't forget me when you are looking to purchase a home, office, business or land - I am only a call or click away.

Making a House Your Home

As a real estate professional I have sold many homes throughout the 13 years I have been in the business. One of the most interesting things I have found with each house sold, is how people turn them from houses to homes. I have found that each home has its own distinct personality.

Now I am not speaking of whether the house is a two story home, or ranch styled; it is more than that. When entering a home, I can tell if the people love to cook, enjoy music, entertainment or sports. I can determine if the home is occupied by a single person or a family. Or if they like dogs, cats, birds, reptiles, or even pot belly pigs. Yes, I have entered many homes where Fido is actually "Rosie", the pet pig.




Speaking of Pets
When entering homes, I have been attacked by dogs, cats, and birds. I am happy to say, I have not yet been attached by a pig. I have been startled by two tiny eyes glowing from under a bed, it was a pet iguana in his favorite hiding place. I have seen pet tarantulas, mice, frogs, and turtles. I have stepped over shedded skins of snakes, and even found a snake guarding the family safe deposit box. (No ATM card need here) YIKES!


Colors & Decor

Colors in a home says a lot about the occupants as well. I can tell if they are happy, sad, angry and even confused. As an example, if the dining room walls are "red", I know guest usually linger at the dining room table, (red stimulates the appetite). If I see murals of balloons, clouds, picket fences in a bedroom, I discern that first of all, it is a little girl's room and her happiness is most important to her parents. Of course the obvious tale tale signs of a boy's room is blue walls, college flags, race cars, football, etc. Teenagers rooms are obvious too. Posters of entertainers, "DO NOT ENTER" signs on bedroom doors, bright electrifying colors - and usually the Maid is on vacation.
Helpful Hints
Turning a house to a home involves reflecting your very own personality, whether through paint color or decorative accessories however, when placing your home on the market you want to appeal to anyone and everyone, which may mean making important changes.


Here' what you may want to do:
1. De clutter - makes the rooms looks extremely large. Remove personal photos, memorabilia, take out unnecessary furnishings
2. Tone down paint colors - no deep colors; makes rooms look smaller
3. Tidy up closets, children's rooms, rec rooms, garage areas
4. Clean windows reflects light - opens up the rooms
5. Refresh or replace worn out furniture
6. When inviting potential buyers into your home, make sure your pets are in a "holding" area away from the flow of the home
7. Paint where needed
8. Tighten up the curb appeal- grass cut, bushes trimmed, etc.

9. Get a home inspection so you will know what to expect when getting the repair list from the Buyer
10. Hire a staging professional professional help is always the best


You want to look at your house as a product to sell, not as your home.


With the accessibility of the Internet, people not only learn how to decorate their homes, but also find information on selling their homes.

Always trust the sale of your home to a real estate professional one who is credentialed, familiar with the area you are interested in selling or purchasing, and has years of experience in the real estate industry. It will save you money, time and headaches. For more information of how to prepare your home to sell, contact me for a free consultation.

Otherwise, enjoy your home, until you are ready to turn it into a house.