Take a look at these AZ housing market stats - comparing This Year to Last Year (numbers in green). I'm happy as a clam (yes I did grow up reading Wizard of ID cartoons) that the most significant changes in # of homes sold in the luxury range went up so dramatically and that the Current $/SF r
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11/15/2011
For Sale: The U.S.A. Are you a foreign drug dealer, terrorist or one of their extended family members and have pondered for years on how to buy a home in the states AND receive an American visa? No need to plot any further! Sens. Charles Schumer (D., N.Y.) and Mike Lee (R., Utah), proposed an a
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11/11/2011
Are Escrow Holdbacks Allowedon HUD Homes?Answer: Yes, but there are restrictions.A HUD Home is a foreclosed property conveyed to HUD when the home owner defaults on an FHA loan. There is a strict procedure for purchasing a HUD home utilizing a bid process.The mortgage portion follows FHA guidel
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11/08/2011
Question: We have identified a home we would like to buy but we were told underwriting may require two appraisals. Why?Answer: The home is probably a “flip” or in layman terms: a property that has changed ownership within the previous 90 days. An investor bought the home at auction or as a s
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11/08/2011
Can Builders Lend After A Short Sale?Question: My clients visited a national builder who insisted that their lender can immediately approve mortgages to previous homeowners after a short sale with lates. Can they really lend on a home after a short sale? Answer: Beam me up! Wouldn’t it be awes
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11/08/2011
10 Reasons We LOVE VA Loans (yes, I said VA)There are unfounded rumors swirling around the real estate community regarding VA loans: they are difficult to underwrite, appraisals come in undervalue and the turn times are unreasonable. That is so 2007. Originating a home loan for our Veterans is a
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11/08/2011
