Browsing all articles from July, 2011

FAQs on Arizona FHA 203K Loan

Posted Posted by admin in Bank Owned, HOMES & BLOGS     Comments No comments
Jul
25
FAQs on Arizona FHA 203K Loan:
What is the Arizona FHA 203K loan?
The Arizona FHA 203k streamline loan program has become popular with the downturn in the housing market. When a property is owned by the bank, chances are that the property may be in need of a little work and the FHA 203k streamline program is a great option.
The Arizona FHA Streamline 203K is a rehabilitation loan that works much like a construction loan.  The buyer of the home is able to purchase a home that is in need of repairs and is able to finance the repair work in the mortgage to fix items in the house.  The Arizona FHA 203k loan consists of the purchase price of the home plus the construction costs for the work to be performed after close.
Example:
$100,000  purchase price of home
$20,000 Repairs Needed (see a list of the most common FHA 203k repairs)
$120,000 Total Loan Amount
Arizona FHA 203k loan: How much do I write the sales contract for?
The offer is the purchase price of the home only.  Do not include the cost of repairs anywhere in the sales contract or offer.  In the above example, the purchase price on the sales contract or offer would be $100,000.
How much money can I use for repairs with the Arizona FHA 203k loan?
The minimum that FHA will allow you to spend is $5,000 and the maximum allowed under the Arizona FHA 203k streamline program is $35,000.
Does the house need to be FHA qualified?
Not until after the work is completed.  The FHA 203k streamline loan is designed to help properties that are not currently qualified, actually become qualified with the needed repairs.
Is this loan harder to qualify for than a traditional FHA loan?
No.  The requirements to qualify are the same as a traditional FHA loan.  What does it take to qualify for an FHA loan? Generally speaking, a credit score above 620, a good job and a down payment of 3.5%. Of course there are more details to qualifying, but those are the general highlights.
How do I go about contracting the work?
It is recommended that you work with a general contractor that can perform all construction tasks.  We can easily help recommend one – we know a few great ones. It is also important that the contractor be experienced in FHA guidelines so that they can include any FHA required items in their contract.

Bridgeview Condos – Luxury Urban Living at Tempe Town Lake

Posted Posted by admin in Bridgeview Condos, HOMES & BLOGS, Tempe Lofts Condos     Comments No comments
Jul
14
Welcome to Bridgeview Condos - Luxury Urban Living – Luxury Water Front Homes at Tempe Town Lake – The new standard for waterfront luxury condo living where exquisite designer touches create beautiful, modern homes with private balconies and courtyards open to panoramic waterfront, mountain and city views. Also enjoy on-site gym, spa, miles of hiking and biking trails around Tempe Town Lake.

With Tempe Town Lake just outside your front door, Bridgeview is just steps away from miles of trails, lovely parks, and a marina. For urban excitement, downtown Tempe is close at hand. The pedestrian-friendly Mill Avenue District is near by. Both the Phoenix Sky Harbor Airport and downtown Scottsdale are just 10 minutes away. And, downtown Phoenix is a quick Light Rail trip. Ideally located, Bridgeview offers the best in dining, shopping, outdoor activities, and bustling nightlife.

To schedule an initial buyer consultation (or) schedule a listing appointment or a staging consultation, Contact Us at 602.330.2323 or email annadams@cox.net
ONE BEDROOM RESIDENCES:

Bedrooms: 1
Bathrooms: 1.5
Price: $299,900
Floors: 6 – 11
Sq. Ft: 1,168

 One Bedroom Residences – Floorplans: 602 ; 1105
TWO BEDROOM RESIDENCES:

Bedrooms: 2
Bathrooms: 2 – 2.5
Price: $420,000 – $605,000
Floors: 1 – 11
Sq. Ft: 1,535 – 2,320

 Two Bedroom Residences – Floorplans: 404 ; 512
THREE BEDROOM RESIDENCES:

Bedrooms: 3
Bathrooms: 2.5 – 4.5
Price: $630,000 – $685,000
Floors: 6 – 11
Sq. Ft: 2,413 – 2,785

 Three Bedroom Residences – Floorplans: 604 ; 710 ; 1004
PENTHOUSE SUITES:

Bedrooms: 2 – 3
Bathrooms: 2.5 – 4.5
Price: $1,290,000 – $1,850,000
Floors: 7 & 12
Sq. Ft: 3,217 – 4,924

 Penthouse Suites – Floorplans: 709 ; 1201 ; 1202 ; 1205 ; 1206
To schedule an initial buyer consultation (or) schedule a listing appointment or a staging consultation, Contact Us at 602.330.2323 or email annadams@cox.net

AZ Real Estate News

Posted Posted by admin in AZ Real Estate News, HOMES & BLOGS     Comments No comments
Jul
12

Click for all latest AZ Real Estate News

Monaco Condos at Prestigious McCormick Ranch

Posted Posted by admin in HOMES & BLOGS, Scottsdale Condos     Comments 1 comment
Jul
7
Monaco Scottsdale Condominiums are located in Scottsdale’s prestigious McCormick Ranch, a prestigious master planned community.

Amenities include:
130 acres of lakes, two 18-hole championship golf courses, tennis courts, bike paths & beautiful walkways throughout this unique community.

Monaco Scottsdale Condominiums offers luxuriously appointed condos from only $79,900

These Scottsdale Condos are just minutes from shopping, dining and entertainment in Old Town Scottsdale.
Scottsdale attracts winter visitors and second home buyers from all over the U.S. and Canada.

Monaco is also located just a few miles from the new Spring Training Stadium for the Colorado Rockies & Arizona Diamondbacks.

Fantastic Floor Plans:

Merlot ; Shiraz ; Chianti ; Cabernet

To schedule an initial buyer consultation (or) schedule a listing appointment or a staging consultation, Contact Us at 602.330.2323 or email annadams@cox.net

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