REDUCED FOR QUICK SALE - SHORT SALE OPPORTUNITY

L@@k What $699.00* per month can get you! This lovely Condo is located in a gated community in Mesa, Arizona, but only a few steps away from Gilbert. Carefree living that is only 1/2 mile from the US 60, 2 miles to Superstition Springs Shopping Center, dining, and schools. Live as though you are on vacation every day. Two (2 ) Bedroom, (2) Full Bathrooms, 1056sf. Assigned covered parking. A club house equipped with exercise, pools, spas and lots of activities planned by the Community for its residents.

Black Appliances Stay. Bay Windows in the dining area

Beautiful resort like pool area

Stop renting and start owing your own home. Let's get you settled so you can enjoy your summer at your own personal resort.

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

Emage` Fine Properties, LLC

602 697-4487

cynthia@emagehomes.com http://www.homes4saleaz.com/

*Lender approval required, monthly payment is based upon 5% down, 5% interest rate, 30 year fixed, includes principle, taxes, interest, insurance. HOA fees not included.

Valley HOAs sue former homeowners

Valley HOAs sue former homeowners

Media: News Releases > Fannie Mae Extends 3.5 Percent Seller Assistance on its Real Estate Owned Properties

Media: News Releases > Fannie Mae Extends 3.5 Percent Seller Assistance on its Real Estate Owned Properties

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OLD SOCKS, NEW SHOES

I am a Jazz Lover; I cut my teeth on Miles Davis when I was just 16 years old. The first album (yes I said album, not CD) was a Miles Davis goodie by the name of "Miles Ahead". By the time I learned to like miles, I had become a Jazz aficionado.

Prior to Jazz, I listened to Classical while reading Russian novels. I had a thirst for understanding different cultures and their music. However, I found early on Jazz transcends all cultures, all races, and all nationalities- in other words, it is universal. (Something like what we strive to be as Real Estate Professionals)

Another favorite of mine has the same name as the title of this Blog: "Old Sock, New Shoes", by the Jazz Crusaders.

Sometimes as a person, as a woman, as a mother, as a wife, as a daughter, as a Real Estate professional, I feel like Old Socks, in New Shoes. I am ever changing, ever evolving, running to stay in tune, stay in step, and stay up to date. I have FB friends, I try to Tweet, and want to be Linkedin, but sometimes I have to realize that sometimes those old socks get holes in the toes, and are just plain worn out. However, just like a new pair of shoes make those socks look good, my clients make me feel good when they tell me my job is "well done". I feel like a new person - like a pair of old socks in new shoes.

So let me flip the album over, and start anew tomorrow, I won't give up, or give in, there's a lot of work to be done.

Cynthia Smitherman, ABR, GRI, CDPE, VP AAREB

602 697-4487

www.homes4saleaz.com

cynthia@emagehomes.com

FHA IS PROPOSING TO TIGHTEN REQUIREMENT FOR A LOAN

FHA and How it Affects You

Federal Housing Administration (FHA) insures mortgages. These insured mortgage loans have made it possible for middle to low income people purchase a home with little to no down payments. Additionally, FHA loans have had programs that allow the Seller to contribute to the Buyer's closing cost and down payment. All of that is about to change to some degree on January 21, 2010.

Down Payment Requirements Then and Now

In the past FHA allowed Buyers to put as little as zero to 3% as down payment on a home, and that figure was recently increase to 3.5% and still allowed the Seller to contribute up to 6% towards the Buyers closing cost. The new proposal is changing those guide lines. Borrows can still put 3.5% down ifhave at least a credit score of 580 to qualify for 3.5% down payment. Borrows who credit has suffered challenges and can not meet the 580 score will have to put down 10% to purchase a home.

Closing Cost Assistance Then and Now

There was a time when the Seller could pay all of the closing cost for the Buyer except for taxes, insurance and FHA insurance premiums. Then the guidelines changed where the Seller can pay up to 6% of the closing cost, and now 3% in the new proposal.

FHA Insurance Premium is on the Rise

FHA is also proposing to raise its premium to the Buyer for mortgage insurance from 1.75% to 2.25% of the purchase price, which can price some hopeful buyers out of the market because the premium amount is tacked on to the monthly payment.

The Good News Is.....

Most people who are looking to purchase a home usually has a higher credit score, generally in the mid to high 600's, and getting together 3.5% for the down payment is not unreachable. For instance, if the home cost $100,000 the down payment would be $3500. Of course you will have to add your closing cost into the equation and you are set to go.

Unfortunately there have been many loans that have defaulted as evidenced by the many foreclosures we are seeing today. However, FHA is doing what it can to still be available to borrowers while trying to strengthen its programs and finances.

Consult a Real Estate Professional

Today there are over $40,000 home available for sale of various price ranges, and locations. The best way to find out what's available is to contact a real estate professional who can utilize their resources to find the home that meets your needs.

Emage` Fine Properties, LLC has been practicing real estate since 2000, and Cynthia Smitherman the Broker, has been a REALTOR since 1996. We are available to help you understand the "How To's" in the real estate market and how you can fit into various programs.

When calling Emage`, just mention you are looking for a Buyer's Representative, and the services to you are free!

Please call 602 697-4487 or email cynthia@emagehomes.com

Cynthia Smitherman, Designated Broker

Accredited Buyers Broker

Certified Distressed Property Expert

Graduate- Real Estate Institute

At Home with Diversity - Designee

VP Arizona Association of Real Estate Brokers

Accredited Staging Professional

http://www.homes4saleaz.com/

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