Encouraging Maricopa County Stats that cannot be ignored
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Homes near Kyrene Del Cielo Elementary School
Kyrene Del Cielo is an A+ rated school located in North Chandler at 1350 N. Lakeshore Drive Chandler, AZ 85226.
Click Here for Homes in Kyrene Elementary School District Arizona
Click Here for Homes near Kyrene Del Cielo Elementary School (5 miles radius)
Click Here for Homes near Kyrene Del Cielo Elementary School (10 miles radius)
The school hours are from 7:45 AM to 2:35 PM and Wednesday Kyrene Del Cielo has early release at 12:35 PM. Preschool Hours are Monday, Tuesday, Thursday and Friday form 8:00 a.m. to 10:30 a.m. or form 11:30 a.m. to 2:00 p.m. with no school on Wednesdays. There is also a preschool program nearby at Corona High School and the hours are from 7:00 a.m. to 4:30 p.m. Monday through Friday.
The Kyrene Gifted Program for 3rd and 4th graders at Cielo has a great reputation. They group together the fifted students all day every day. Students will also practice interpersonal skills such as presentation slills and public speaking.
School Overview
Address: 1350 N Lakeshore Dr, Chandler, AZ 85226
(480) 783-2600
Grades: PK – 5
School Type: Public
Student Enrollment: 722
Students Per Teacher: 15
Short Sale – New Exit Strategy
Valley Market looks assured
Great News!!
Residential Real Estate Market across the Valley seems to be on the positive side looking at the market data as on Apr 7th, 2011.
Across Maricopa County, taking into account New Homes and Resales, total active home listings dropped by 2883 units making the home count stand at 36883, the lowest amount for March in the last two years. 9135 units got sold, which is an upward trend compared to 8657 units last year same month which is 5% increase.
For 8.3 months of supply, short sales comprised 20% of closings & 38% of active listings.
66% of last month home sales were distressed properties.
For Maricopa County:
-for March 2011, the Median Price Sold was $120,100
-for March 2006, MP was $260,000
-for March 2000, MP was $132,000
Some interesting stats to ponder upon for everybody. Overall, outlook seems sound and balanced.
Buyer’s agent in Arizona & How compensation can motivate a realtor
The average buyer’s agent in Arizona will look to MLS and many times lean towards showing homes that offer better pay. This happens all the time.
Listings that offer low commissions out to buyer’s agents get shown less. Realtors only get paid by commissions when a closing happens.
The more assertive and effective buyer’s agents will us a buyer broker agreement and will show all homes on or off the market regardless of the pay. They can even implement this agreement for 60 to 90 days. This agreement simply assures payment for the agent and confirms that you are working exclusivley with them.
Why would an agent want to have this agreement? The reason an experienced and assertive buyer’s agent would do this is that working with unloyal buyers is a waste of time and money for the professional realtor. This agreement assures the agent that they will get paid for knocking on the door of an unlisted For Sale By Owner or calling the Auction Companies that offer low commissions. This will motivate the agent to work harder to find the buyer a deal. The commissions can be added on top of the price for a home or requested through closing costs paid by the seller in some cases.
Agents that look in all places for a home for their buyers will also find the buyer a better deal in many cases. Savy real estate investors understand this well and will often agree to pay agents more than the average home buyer for a good deal.
If you could save an additional $30,000 or more on your purchase would you want the agent that found the home to be compensated?
Many agents do not openly discuss how they get paid. Upfront honesty with your buyer is the best policy. They understand as an agent you need to be paid. They also are happy to do this especially when you find them an amazing deal.
Short Sales in Arizona & Credit Implications
A foreclosure, short sale, loan modification or deed-in-lieu of foreclosure can all have a negative impact on your credit. Many times a bank will force you to go behind before they will consider a short sale. There is a difference in the severity of the damage between them. A foreclosure will show on your credit as a foreclosure/repossession whereas a short sale will show as pre-foreclosure in redemption status, settled or even as a completely satisfied account. A foreclosure can prevent you from purchasing a home for 5-7 years whereas new Fannie Mae and Freddie Mac guidelines have changed the seasoning of a short sale to 2 years – which means you can purchase a home much sooner.
Jobs that need security clearance may be impossible to get with a foreclosure on your record. When looking for a new job an employer may pull your credit report and this may make you look bad to have a foreclosure on your record versus a short sale. Short sales show that you tried to minimize the damage to the bank.
Foreclosures also generally have a more severe impact on your FICO score, because of the high number of missed payments that people accrue over the course of their foreclosure, most people report a drop of 200-300 points in their score. If you are proactive about short selling your home, you can reduce this number by acting quickly to get your home on the market and sold. Most people who complete a short sale report a drop of 80-120 points in their credit score and some have been able to fully recover in as little as 12-18 months.
The short sale process is far more invasive and is less stress in most cases on the homeowner. Friends, family and neighbors do not need to know you are doing a short sale on your property and your property will be marketed just like other home for sale. When the property closes escrow, you will move out and move on with your life. When your home is facing foreclosure, the bank generally posts a notice of trustee sale on your property. If the property does go to foreclosure and you or a tenant is living in the home there will be an eviction process and you will have someone knock at your door to try to get you out of the home.
A short sale allows you to get out of a home that is causing you a financial hardship and rid you of the debt associated with negative equity without facing foreclosure. We highly recommend that if you are considering a short sale you meet with a professional as soon as possible to reduce the impact on your credit and begin the negotiations with your lender.
Short Sales or Foreclosure – Tax Issues & 1099s
Home equity lines and investors be sure to consult your CPA prior to considering a short sale or foreclosure. The IRS wants you to pay and you must have great tax planning and strategy to minimize your risk and lower your tax burden. The tax laws change so frequently that you MUST not depend on a realtor for this advice. You must consult a tax expert.
If you can prove you were insolvent prior to the close of a short sale this is better. When you access your balance sheet and consider your assets and liabilities they do not consider your retirement as part of your assets. That said these guidelines change and you need to consult a CPA to assess your tax burden and put together a balance sheet.
If you have tax consequences after a short sale you would have owed in foreclosure to. We all would love to say you can wipe your tax burden away by letting a home go but in some cases you can’t.
For now if the home was a purchase money primary home the tax scenario is different than if you are an investor or have a home equity line that is not purchase money.
Knowing your options is important. The IRS is not always out of the picture after the home is gone.
