Spring Training! Arizona Living at it's Best

Spring Training an Arizona right of passage.

I look forward to this time of year. It is the best time of the year to live in the Phoenix area. With 16 Major League Teams spread across the valley. You can easily take in a game before or after a challenging round of golf at some of the nations finest golf courses.

Tomorrow I am going to the Padres / Mariners Game in Peoria. I'll have photos and updates all day.

Homebuyer Tax Credit Extended & Expanded

Homebuyer Tax Credit Extended & Expanded

You may not have heard the news. In addition to the best real estate prices in decades and the very lowest mortgage interest rates we now know that the real estate tax credit has been extended to contracts written and accepted by April 30th, 2010, and also expanded to included move-up home buyers.

Home Team Scottsdale is here to help you take advantage of the prices, rates and get all the tax credits you deserve. Call 888-925-2562 or visit HomeTeamScottsdale.com today and start your Scottsdale Area Real Estate search with the Home Team on YOUR side.

The National Association of Realtors published this helpful guide for comparing the program that was expiring on November 30th with the one which was just signed by President Obama.

NAR Issue Brief: Homebuyer Tax Credit

A couple of the highlights include:

* Purchase contracts must be written by April 30, 2010.
* Move-up home buyers are eligible for a $6500 tax credit, providing they meet income limits and occupancy rules.
* First-time home buyers are still eligible for a $8000 tax credit, with income limits.
* Qualifying home prices are capped at $800,000.

I suspect that there are a few home buyers that are breathing a sigh of relief, knowing that they still have time to find a home, make an offer, and close before the extended 2010 deadline.

And there’s the potential to release a whole new wave of homes for sale. Homes that have been lived in, where the owners have taken care of them, and will disclose the history of the home to the buyer. I’ve listed six houses like this in just the past two weeks, and I suspect that I will be hearing from a few more folks who’ve been sitting on the fence, deciding whether the time was right to sell and buy up.

Here’s a link to the actual language of H.R. 3548: Worker, Homeownership, and Business Assistance Act of 2009.

'Tis the Season

’Tis the season

One of my most favorite holidays is Thanksgiving. Looking forward to that time with family and friends, to pause for a moment and be thankful. And it is also the official start of the holiday season and high season in the Scottsdale area.

We are also fast approaching the end of the year. Some things to consider:

’Tis the season to purchase a home

You may think it is a little crazy to tackle the huge task of home buying during the fast paced holiday season. But this holiday season is especially a GREAT time to find real estate deals in today’s economy.

This year in particular will be different from other years; the economy has boosted the motivation of many sellers to sell, interest rates are at an all time low, prices are way way down, inventory is plentiful and the extended and enhanced tax credit makes this the best time ever.

Many property owners are anxious to get the home sold before the end of the year because it helps on their taxes; and financial institutions and lenders that are looking to close the books on 2009 may be more willing to act quickly to get a transaction closed by year end.

’Tis the season to rent a home

If you need a rental property, this holiday season is a particularly good time for renters to find a home. Many homeowners not willing or interested in selling their properties has also increased the amount of rental inventory available. Many are willing to rent below their costs just to get some help with their financial burden each month.

’Tis the season to rent a furnished home

Hotels cannot match the per person rates of furnished rental homes and condos. Search the largest selection of luxury furnished Scottsdale area homes and condos at the best rates in years. And now is the time to select your seasonal rentals. Enjoy some great deals during horse shows, car auctions, Spring Training or just spend the season in the Scottsdale area enjoying the weather, events and maybe some golf.

’Tis the season for property owners too

Property owners interested in selling or renting their Scottsdale area properties now is a good time to start the listing process. It’s a good time for starting the research, taking photos, cleaning and maintenance, etc.

We all have something to be thankful for, so please enjoy the time with loved ones all this holiday season. And Remember, Home Team Scottsdale is here to help you with your Scottsdale area real estate needs this holiday season and all year long.

Sincerely,

Jim

Jim Kempski

RealEstate.com REALTOR

HomeTeamScottsdale.com

480-389-4224 D/L

866-680-1170 Fax

Skype: jimkempski

Homebuyer Tax Credit Extended & Expanded

Homebuyer Tax Credit Extended & Expanded

You may not have heard the news. In addition to the best real estate prices in decades and the very lowest mortgage interest rates we now know that the real estate tax credit has been extended to contracts written and accepted by April 30th, 2010, and also expanded to included move-up home buyers.

Home Team Scottsdale is here to help you take advantage of the prices, rates and get all the tax credits you deserve. Call 888-925-2562 or visit HomeTeamScottsdale.com today and start your Scottsdale Real Estate search with the Home Team on YOUR side.

The National Association of Realtors published this helpful guide for comparing the program that was expiring on November 30th with the one which was just signed by President Obama.

NAR Issue Brief: Homebuyer Tax Credit

A couple of the highlights include:

* Purchase contracts must be written by April 30, 2010.
* Move-up home buyers are eligible for a $6500 tax credit, providing they meet income limits and occupancy rules.
* First-time home buyers are still eligible for a $8000 tax credit, with income limits.
* Qualifying home prices are capped at $800,000.

I suspect that there are a few home buyers that are breathing a sigh of relief, knowing that they still have time to find a home, make an offer, and close before the extended 2010 deadline.

And there’s the potential to release a whole new wave of homes for sale. Homes that have been lived in, where the owners have taken care of them, and will disclose the history of the home to the buyer. I’ve listed six houses like this in just the past two weeks, and I suspect that I will be hearing from a few more folks who’ve been sitting on the fence, deciding whether the time was right to sell and buy up.

Here’s a link to the actual language of H.R. 3548: Worker, Homeownership, and Business Assistance Act of 2009.

It is a Historic time to buy.

Wow, talk about a great time to buy.

Let's see, we have:

Historic Prices for quality real estate, Low interest rates and plenty of selection.

This could be a huge opportunity for the young too.

In addition to the obvious benefits at the end of a 15 or 30 year mortgage you will be young enough to enjoy the fruits of your labor.

Young people just starting to invest and buying their first homes are potentially the big winners in this recession.

First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®

"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."

A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.

"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."

Home Team Scottsdale is here to help with all your Scottsdale area purchases. Get the Home Field Advantage with HomeTeamScottsdale.com. 1-888-925-2562

It is a Historic time to buy.

Wow, talk about a great time to buy.

Let's see, we have:

Historic Prices for quality real estate, Low interest rates and plenty of selection.

This could be a huge opportunity for the young too.

In addition to the obvious benefits at the end of a 15 or 30 year mortgage you will be youg enough to enjoy the fruits of your labor.

Young people just starting to invest and buying their first homes are potentially the big winners in this recession.

First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®

"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."

A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.

"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."

Home Team Scottsdale is here to help with all your Scottsdale area purchases. Get the Home Field Advantage with HomeTeamScottsdale.com. 1-888-925-2562

You can buy a Phoenix home for $150,000

There are 125 metro areas including Phoenix where starter homes cost $150,000 or less.

By Marilyn Lewis of MSN Real Estate

Believe it or not, you can get into a $150,000 starter home with less than $2,500 in savings. You'll need to leverage the new $8,000 federal tax incentive and have at least average credit, but your monthly payment would work out to about $1,000 a month including taxes and insurance.

According to National Association of Realtors economist Lawrence Yun, starter homes are usually priced about 30% below a local market's median. (The "median" is where half the homes cost more and half cost less.) So the most promising cities for families to buy a first home would have median prices of $215,000 or below (as a $150,000 home is about 30% less than the $215,000 median).

According to the NAR, 125 metro areas including Phoenix had a median price of less than $215,000 at the end of the first quarter; you'll find the list below, plus links to find homes priced 30% below each market's median. In some of these markets, that starter home will cost far less than $150,000.

3 tips for new buyers
Before you beat a path to the nearest open house, educate yourself on the homebuying process.

Curt Lorden, senior loan officer with Residential Finance Corp. in Tampa, Fla., offers this guidance:

1. Buy less home than you can afford. "Just because we might be able to qualify you for it, doesn't mean you should go for the max," the loan officer says. Leave slack for retirement and college savings. Rather than what you want, consider what, realistically, you need: "We, as Americans, got a little bit egregious as to how much house do you get," he says. "The reality is, you got there and you only needed half of it."

2. Think ahead. Since prices are still dropping, be prepared to stay in your new home at least five years. When prices recover, you should at least break even when you sell. Forget about making a fortune on a home. Those days are probably over for a while. And, if your family is growing, get a home big enough to meet your needs five years out rather than going for granite countertops and high-end upgrades now.

3. Stash the credit. If you don't need the tax credit for a down payment, use it to pay down consumer debt, to start a college fund for your kids or to fatten your retirement account.

You also can educate yourself on the home buying process by taking a class. Banks, credit unions, financial counseling agencies, community colleges and state extension services offer free or inexpensive classes and workshops. Watch your local papers and TV for announcements or see HUD's list of government home buying programs, including classes and counselors.

Find a loan
Once you're ready to get serious, your first step is to find the loan, Lorden says, even though it may seem backward when what you want to do right now is shop.

"If I had a friend or a family member looking to buy their first home, I think it would be very important to sit down or talk over the phone with a mortgage consultant, even before they retain [a real-estate agent]," Lorden says.

Apply to several lenders. Compare annual percentage rates (APRs) to see who's offering the best deal.

Lenders will offer to "pre-qualify” you, giving a rough idea of what you can borrow. They'll chat about your finances and pull your credit score. But what's the point? It's only an estimate. You can't hold them to it. You won't know how much they'll truly lend you and what the cost is until you get a lender to commit to a loan amount and interest rate — a "good faith estimate." For that, you must apply.

Lenders will ask for documents proving:

• Your income
• Your bank account balance
• Your monthly expenses, including what you owe and whom you owe it to.

Finally!

To all my fellow Cubs fans, finally.

New ownership takes over.

Say it's so.

CHICAGO -- Major League baseball owners yesterday unanimously approved the sale of the Chicago Cubs from the bankrupt Tribune Co. to the family of online brokerage billionaire and longtime fan Joe Ricketts.

The vote was made during a conference call. Tom Ricketts, who has headed the sale for his family, could take day-to-day control of the Cubs by the end of the month.

Commissioner Bud Selig says the Ricketts family will be "great owners and custodians" of the storied franchise perhaps best known for a World Series championship drought that now stands at 101 years.

Mortgage rates near historic lows

Unbelievably great mortgage rates and low low prices. We may never see anything like this again in our life time.

Mortgage rates have hovered near historic lows in recent weeks, with prime borrowers making 20 percent downpayments this week able to obtain 30-year fixed-rate mortgages at just over 5 percent, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage averaged 5.07 percent, with an average 0.7 point, for the week ending Sept. 10, Freddie Mac said, down from 5.08 percent last week and 5.93 percent a year ago.

“Mortgage rates remained historically low over the past two weeks, keeping housing very affordable,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage applications leapt 17 percent over the week ending September 4, led by a 23 percent jump in refinancing demand, according the Mortgage Bankers Association. In fact, nearly three out of five applications were for refinancing current loans.

Let HomeTeamScottsdale.com work for you and find you the best deal on a Scottsdale area property.

Get the Home Team Advantage on your Side.

It's Official Home Team Scottsdale is ready to help

Home Team Scottsdale is ready to help with your Scottsdale area real estate needs.

Jim Kempski, A RealEstate.com REALTOR, has launched HomeTeamScottsdale.com.

Specializing in residential properties in Scottsdale, Phoenix including the Kierland and Biltmore areas and Northern Tempe.

Everyone knows the Home Team has the home field advantage. Get your Home Team Advantage!

We are here to work for you in Selling your property, Buying a new home or with your Scottsdale Leasing needs.

Visit HomeTeamScottsdale.com, email HomeTeamScottsdale@gmail.com or call 1-888-925-2562 and Get the Home Team on Your Side.