From the monthly archives:

October 2009

Thompson's Realty

If you’ve stopped by this blog recently you may have noticed the new little logo in the upper right corner (thanks, Jay).  And, it’s a different color and style than you might expect if you’ve known me during the last eight years…

It is with [pick a word here: abundant, extreme, gigantic, colossal, extravagant, humongo...something that means "a whole lot of"] excitement that I announce to you that last month I switched brokerages and joined the talented group of agents at Thompson’s Realty headed by the infamous Jay Thompson and his behind-the-scenes but equally amazing wife, Francy.

Nothing will really change: my phone number & fax will stay the same.  For the time being I’ll still have too many email addresses (side note: they all go to the same place so just pick one).  I’ll still live by the rule, “have car, will travel” & no one ever visited me at the office anyway so a change of location isn’t an issue.

My move was not made out of frustration with my previous brokerage or any sort of negative influences.  It is purely an opportunity to for me to grow both myself and my business in the high-tech, high-touch niche style of service to my clients that I believe in.  Jay is a prolific blogger (you can read Jay’s announcement at his blog “The Phoenix Real Estate Guy“)  and social media guy whom I look forward to learning from.  Thompson’s Realty’s slogan is “The Power of Technology with a Personal Touch” — that resonates with me!   I believe that technology can be used to help serve my clients at a higher level while affording me the opportunity to serve them IRL (in real life), too.

As always, thanks for your support & I look forward to serving your AZ real estate needs!

Share This Post

{ 1 comment }

**As I write this there is a Police helicopter circling my “safe” neighborhood in East Mesa and I have the heebee jeebees.  This won’t seem so random after you read this post.**

I am forever amazed at the number of people who tell me they only have one main requirement in a neighborhood: they want a safe one.  It sounds like this:

Would you put your mom in this house?  Would you live in this neighborhood?  I wonder if there are any sex offenders in the neighborhood?

While I would love to be able to tell you that a neighborhood is safe and you’ll never be harmed if you purchase a house in there, I just can’t make those promises:

1.)  Because I’m not allowed -

REALTOR CODE OF ETHICS: Standard of Practice 10-2

    When not involved in the sale or lease of a residence, REALTORS® may provide demographic information related to a property, transaction or professional assignment to a party if such demographic information is (a) deemed by the REALTOR® to be needed to assist with or complete, in a manner consistent with Article 10, a real estate transaction or professional assignment and (b) is obtained or derived from a recognized, reliable, independent, and impartial source. The source of such information and any additions, deletions, modifications, interpretations, or other changes shall be disclosed in reasonable detail. (Adopted 1/05, Renumbered 1/06)  [my emphasis]
    You see, I am only half of those emphasized items: I am reliable and independent but surely not a recognized or impartial source.

2.)  I don’t know -

This is the real key here.  What is your definition of safe?  I have no doubt in my mind that your definition of safe is different than mine, and mine is different than the next person’s.  Safe is very relative.  I have clients who live in a neighborhood that I don’t like going to in the daylight let alone at night and they tell me that they feel the safest there than anywhere they’ve ever lived.

I’ve lived in a neighborhood where I didn’t feel safe (see I can’t even trust myself).  I had neighbors with severe drug & domestic violence issues two doors down.  We regularly had Police helicopters circling (see I told you).  It wasn’t unusual to see the SWAT team moving in with full shields walking across my yard.

3.)  Is perception reality? -

Are the perceived safe areas really safe?  Or are crimes just different or less reported or less noticeable?

Once, when my husband was out of town, in an attempt to escape the afore mentioned neighborhood, I decided to take my young girls and stay with my in-laws in  their high-end, gated, golf course subdivision.  Someone threw a brick through my car window in their driveway.

My current “safe” neighborhood is 1/2 a mile away from the old one.  Is half a mile really enough to constitute safety compared to the fear that I used to feel?  Probably not.

So what’s a buyer to do?

  • Check out Arizona Association of REALTORS’ Buyer Advisory.  It is periodically being updated and offers many live links which will offer you various ways to learn about the house and community you are considering.
  • Talk to the neighbors.  You know there is always that gabby one who knows the scoop on everything/everybody.  Find them.
  • Drive through the neighborhood in the morning, in the afternoon when school is getting out, at dusk and in the evening.
  • Google the community name.  See what anyone else has to say about it online.
  • Ask the seller why they’re leaving.

While it’s not me flat out giving you the go ahead that you’ll be safe, these items will help you with due diligence and that’s better than taking my word for it anyway.

Share This Post

{ 3 comments }

If you currently have an FHA loan and you haven’t refinanced recently, take a minute and see if it would make any sense for you to lower your interest rate.

Right. This. Second.

Why?

Because the FHA streamline rules are about to change thanks to an a new announcement from HUD a couple of weeks ago that announced changes to the qualification criteria to the FHA streamline program.

For years and years, the FHA streamline program was designed as a “no income, no asset, no credit score no appraisal” refinance program that allowed people with an FHA loan to lower their interest rate without having to completely re-qualify for a new loan. Ok, so many lenders in the last year had started requiring credit scores, but not all.

But that all changed with the recent announcement.

And with the new changes, one of the big reasons that people in Arizona were lucky to have the streamline program will no longer be true. As you know, many people in Arizona who have bought a home in the last few years are in a situation where they currently owe more on their mortgage than their home is now worth. If they were lucky enough to have an FHA loan, that used to mean that the FHA streamline program was still a way that they could refinance into a lower rate. But soon, that will no longer be the case. Surety companies and mortgage bonds may become more prevalent.

With the new changes, anytime you do an FHA refinance streamline, you now are going to pretty much need to provide the same information you did when you first took out your FHA loan — income, asset, credit score information — and if you finance your closing costs (be sure to use a free mortgage calculator to see if it is worth it), you will need to also get a full appraisal.

The one bright spot in the announcement? The new rules take effect on November 17 of this year so you only have a little bit of time left to act.

If you hurry.

Share This Post

{ 4 comments }

Ajax CommentLuv Enabled cef9f4ca4ec327f81b238965a1b31ee5