Arizona Passes Loan Originator Licensing

 The Governor signed into law a bill that requires loan originators of Arizona home loans to be licenced .  This new law will require loan originators to apply for a one year licence beginning Jan 1, 2010 and take required continuing education units before submitting a renewal application after that.

Supporters of this new law hope that it will reduce fraud by requiring educational classes and oversight of the licensee.  Opponents do not like that the new law exempts employees of a commercial mortgage banker from loan originator laws.  They feel that loan originators will flock to banks and leave mortgage brokers high and dry.  Since mortgage brokers usually have a wider range of products, I think the demand for originators will remain high. What do you think?

 I am in favor of this new law, and am delighted to know that loan originators will have a higher required standard of care for their clients.  Now I know that some loan originators will be upset and I have to admit that 99 percent of the originators I have worked with have done an excellent job and act as consultants to their clients giving hands on care.

However, with that said, there have been some nightmare originators that clients have had to work with.  Most clients come to me with a mortgage broker in tow and often have chosen them because of a referral or rate that they read about.  Many clients don't know what level of expertise to expect and can fall for predatory practices.  This will help to build consumer confidence.

As Real Estate Agents we are held to a high standard of care, we are licensed and are required to take renewal hours of continuing education mandated by state law.

Hey, even a hair stylist is licensed and  takes more classes than this bill requires.  This is a good thing.

As the summer goes on here's another COOL way to spend your time while living in Arizona.  A wonderful family event at the Phoenix Zoo.

60 Tons of manmade snow will be brought in for the Winter In July Event at the Phoenix Zoo.  Visitors can watch the animals play in the snow and play in it themselves!  Toddlers under age 5 will have a special snow playground.  The event takes place from July 12th at 11am with a Barbeque following hosted by El Paso Barbeque.  Visit the Zoo Website for more information

 KarenTurney/Phoenix Real Estate/It's A Good Move

If you are looking to escape the summer heat even for just an afternoon consider a visit to the Arizona Science Center. 

"The Chronicles of Narnia: The Exbition" premieres here in Phoenix this summer.

Visitors will view artifacts from C. S. Lewis' personal study and visit environments such as the attic and wardrobe which act as a portal to the exhibit.

Complete with falling snow and cold wind, the wintry scene leads to the White Witch Ice Palace.

The exibit was designed for you to enjoy scenes and items from the films and it teaches a message about stewardship of the environment.

For more information Contact the AZ Science Center located at 600 E Washington.

                                  Visit the website at Arizona Science Center or call 602-716-2000

Karen Turney Phoenix Real Estate "Its a Good Move"

Clip art:lucy learns ltd.(c)

I wasn’t born a Realtor; it was a long slow progression of various jobs to reach this career.  

Last weekend while stopping for gas a boy of about 11 approached me to sell candy. Now I know I could have thought he was too young to be out there working but then I thought back to my own youth. 

It has been many years since I was 11 but I was working then too. I really didn’t think much of it at the time, it was the means to and end so to speak, work=money, simple as that.

I lived across the street from the tee of the golf course we lived on and I sold soda to the golfers as they passed.  They did not have beverage carts then, so my brothers and sisters took turns selling on the weekends and my father gave us a share of the profits.  I blew it all on candy as I recall.

When I was 13 my brother and I found a farmer 4 miles away that would pay 6 cents a pint and 8-10 cents a quart, to pick strawberries in his field.  So, I rode my bike to and from the fields every day all summer until I had the money I wanted.  I remember I was exhausted by the end of the day and that eating strawberries cut into my profit. 

I know that there are still kids today that have paper routes, baby sit and mow lawns and they feel great satisfaction from a job well done.   

It doesn’t really matter what you do when you first have that desire to make your own income, what matters is that you stick with it, serve your customer well and enjoy the rewards of hard work.

So how did you start your working life? Were you a kid too?

Karen Turney Phoenix Real Estate

This month I celebrate 10 years of belonging to Business Network International.  As the name describes this group is composed of business owners dedicated to marketing and increasing the business of others.

As a realtor working in the Greater Phoenix Real Estate market, I am often asked if I have a pool service, do I know a good banker or have a painter and a handyman service?

As members, we are dedicated to a code of ethics that pledges to be truthful to our members and their referrals. I know I can refer a vendor that you can be happy with.

My networking group, the Scottsdale Business Builders, promise to deliver quality service and live up to the ethical standards of our professions.

Many of the clients that have been referred to me have referred other friends and family members to me.

When you buy or sell a home, you have a goal, including the best price, and the best service.  I have a goal too, to fulfill your goals in order to receive your referrals. 

Click here to view my preferred list of vendors.

Karen Turney / Phoenix Real Estate/ “It’s a Good Move”

Think outside of the box! The computer box.

I love working with web savvy clients, they collect information that reduces their doubts and helps them make good decisions.  They come to me with specific goals and ready to ask those all important questions.  In short they are educated, feel secure ,have a plan of action and are ready to go.

The biggest problem I see about the internet is that you can’t FEEL the location. Not all buyers can drive by every home, and with the price of gas these days they may not want to! The Phoenix homebuyers market covers a large area.

 When clients come to me with a list, they may not know about road noise, or ringing school bells, or lights from a football field .  Since I know the area, I can help them with their list by getting crucial information. I form my own list of homes and compare the two lists in a conversational meeting before we head out to look at homes. Realtors can avoid showing homes that the buyer will negate because they did not have all the facts and can’t get them on the internet.

Some homes have beautiful photos, but the multiple listing services can’t tell you the sellers own 4 large dogs or they have a room dedicated to their iguanas, the private remarks that only realtors can view, will. I have actually seen an iguanas bedroom!

Looking for a home on the internet is a very good starting place.  Once you have your criteria narrowed down then it's time for a Realtor that knows the area.  Make calls to set up interviews with realtors, then enjoy your journey down the street of your dreams.

When is the last time you read an internet listing that said: 

LOVELY FOUR BEDROOM HOME

    DIRECTLY ACROSS FROM THE FIRE STATION

Visit here for more information about Phoenix area Homes

Karen Turney, It's a Good Move

The article, Fannie Mae payment rules eased from the Arizona Republic dated May 17th, reports that lending Fannie Mae is doing away with higher minimum down-payment requirements for borrowers in parts of the U.S. where home prices are dropping.

When Fannie Mae tagged metro Phoenix a declining housing market in January, the residential market suffered.  As if it needed any help in this manner!!  Dozens of homes fell thru because borrowers couldnt come up with the extra cash required for a down payment, and the status of buying in a "delining market" spooked potential buyers.

The government-sponsored mortgage finance company said it will require down payments to be between 3 and 5 percent for all loans that it guarantees.
This is wonderful news for the Phoenix Metropolitan market!  For months agents were pairing potential buyers with homes only to find that they could not qualify for a loan due to the stigma and requirement of the "declining market" tag.

Phoenix Homes in Desert Ridge Neighborhood
Urban meets Suburban 

I have been visiting the sales office off and on at City North to keep up to date on the developments of this new urban development in Northeast Phoenix.  City North is situated within the master plan community of Desert Ridge.  This is where suburban meets urban living.  Similar in planning to Kierland, City North is sure to please the current residents of Desert Ridge and entice others to locate there.

Located at the corner of 56th street and Deer Valley road, this community will be convenient to existing shopping in Desert Ridge and the 51 and 101 freeways. 

Construction is in full swing at City North a 144-acre multiuse development east of The Desert Ridge Marketplace.  Structural steel, foundations and much more activity is happening to create the first phase of City North known as High Street. 
High Street will have 100 units for residency occupying several 4-story buildings.

High Street will have street level retail shops and  include a collection of lifestyle boutiques with sidewalk bistros and cafes.  Included in the buildings on the second floors will be over 320,000 square feet of first class office space including medical facilities.

Resident homes will offer several floor plans, which are now available for reservations starting in the mid 500k range.  Floor plans offering two and three bedroom homes are available for sale now and are expected to be available for occupancy in the fall of 2008.  

The Boulevard is the second phase of City North and will offer an Esplanade complete with high-end boutiques, and Bloomingdales.  At the center of the Boulevard will be city parks featuring cascading fountains, art installations and public performance spaces.
This phase will offer residences high above the street as well. 

54^th Street is the final phase offering residences overlooking a walkable thoroughfare and will be the gateway to City North.  Shopping will include a Nordstrom’s.

The community plans on two hotels and ample parking structures. This is sure to be an exciting urban environment in northeast Phoenix.

Call Karen for more information on City North and to view all available homes in Desert Ridge

Information is deemed reliable but not guaranteed, and was obtained from City North sales office team, and the Arizona Republic

Buyers starting arriving monday evening to get a place in line to secure their first choice of homes at Mountain Bridge!  Grand opening and Sales begin on Saturday, May 17th at 9am.

Blanford Homes the builder decribes the community on their website:

"Truly a one-of-a-kind resort style Masterplanned Community with Old World charm, Mountain Bridge is centered among top-rated schools, mega-shopping, fine dining and leisure activities, yet is also set so close to the wilderness...literally minutes away! Where else could you live where everything around you is already built and in place so you're not in the middle of nowhere?"

Homes are priced at pre-boom prices from 240K to 800K in this 720 acre community, complete with walking trails and custom homesites.

Buyers have not camped out to purchase homes in Arizona for a very long time. This could the opportunity that many buyers are looking for.

Click here for more infomation or to contact me