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BlogArizona.com offers discussions on a wide variety of subjects, but focuses on Arizona and real estate.  The articles  posted here are contributed by various working professionals.  Their insights and experiences will inform, educate, challenge and entertain our readers week after week.  Some of the best reading on blogs often comes from reader Comments!  We encourage you to use the 'Comments' feature to join discussions and interact with both our Contributors, and our other readers.  We do require that you first review and accept our 'Comment Rules' in order to preserve the quality and integrity of this blog.  Also be aware that all visitors are subject to our Terms of Use.

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BlogArizona Category: Renting a Home

This page contains all BlogArizona posts related to Renting a Home.   Read a specific post by clicking on a title below, or scroll further down the page to read through all posts in this category.
  • BlogArizona.com - An Arizona Real Estate Blog

  • Thursday, October 29, 2009

    Zip Codes Missing from Arizona MLS

    Dear nice folks at Arizona Regional MLS (ARMLS®),

    What happened to the zip code?  It used to be prominently displayed at the very top of the MLS printout (after the city & state where it belongs!).  It looked like this...

    Zip Code on AZ MLS 

    But the zip code is not there anymore, and I can't find it listed anywhere else on the MLS printout either.  Here's how it looks now...

    Zip Code missing from AZ MLS 

    Did you intentionally remove the zip code, and if so, why on earth would you do this?  If not, when will the zip code be returned to it's proper location?

    It just disappeared in the past couple of weeks, so hopefully it won't be too hard for you to find it.  I know you're usually very good about informing Realtors® when you make changes to MLS.  So perhaps you did send out an email informing Realtors® the zip code would be disappearing soon.  Unfortunately, I didn't get the memo.  So here I sit wondering, what the heck happened to the zip codes?

    Please help.  Thank you!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on October 29, 2009 | Permalink | Comments (1) | TrackBack

    Real Estate Scam Involving Foreclosures, Short Sales & Vacant Homes For Sale

    Here's a recent "Scam Alert"sent out by ARMLS®.  Realtors® and anybody who owns a vacant home should beware:

    SCAM ALERT: Check Your Vacant Listings
    A recent scam reported to ARMLS® involves tenants moving into a pending short sale listing. The surprised listing agent contacted the owner who had not rented the property to anyone. The tenants (two women with two children) were physically moving in and had turned on utilities in their name. The sign and the lock box were removed, and all locks were re-keyed. 

    The tenants responded to a For Rent sign in the yard. They gave someone $1,800 as rent and signed a lease. While the short sale was able to close, the unfortunate victims of this scam were out $1,800 with no place to live.
    This down economy encourages some people to take advantage of others.  Listing agents should check their vacant listings regularly and provide neighbors their contact information in case they observe any suspicious activity.

    So sellers - keep an eye on your vacant homes and/or ask your neighbors to watch for suspicious activity.  Realtors® - check your vacant listings.  And renters - verify the owner/history of the property you're renting, and check out your potential landlord!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on October 29, 2009 | Permalink | Comments (13) | TrackBack

    Monday, October 19, 2009

    Is the Phoenix, Arizona Real Estate Market Recovering?

    Here's a snapshot of the current Phoenix metro area real estate market, as I see it:

    At the end of last year, the real estate market in the Phoenix metropolitan area started to pick up...  not because of any government program, but because the free market works.  When prices came down to a certain level, the investors came out to play.  Some of those who were sitting on the sidelines waiting decided it was time.  And people started buying again... not in huge droves like a few years back when people were fighting each other for houses.  But then again, who wants that, really?  (I was taught that slow and steady wins the race!).

    Since then, I've seen a steady flow of buyers into the market, and many banks/real estate agents are even creating bidding wars again.  Of course, these bidding wars are driven by totally fabricated demand.  The bank has a real estate agent list the house for a super low price to attract multiple offers.  Then instead of rejecting any of the offers, they entice all of the propsective buyers into a bidding war and tell them to make their "highest and best offer".  None of the buyers know what the other bids are, so they often times end up bidding higher than they should because they get sucked into the emotion of 'wanting to win the bid' rather than rationally determining what the house is worth without that emotion present.  I always tell buyers to avoid bidding situations, even in a sellers market.  But especially in the current buyer's market... there are still way too many houses available for sale right now to get into a bidding war.  Go find a seller who appreciates your offer more and is willing to negotiate under your terms.  In a buyer's market, the buyer should feel like they're driving the terms of the deal, not the seller.

    But realize that Arizona's residential real estate market still faces significant foreclosures, and this will continue for some time.  Supply is good for buyers and you shouldn't let uncertainty scare you away from the market if you're buying an owner-occupied home that you plan to keep for at least 3-5 years.  However, I would advise inexperienced investors to be very careful buying Arizona real estate right now, especially if you plan to do a short-term flip.  There's money to be made, but you can also lose a bunch so just know what you're doing.

    In my opinion, Arizona's real estate market is recovering, but is not out of the woods yet.  The biggest danger to this recovery (other than government interference) is the commercial real estate market.  I'm not sure why nobody is talking about it, but the commercial market could create huge problems in the coming years, especially if banking problems are not addressed.  Commercial real estate market trends lag the residential market, and I don't think we've even started to see the real impact of the commercial market yet.  Here's why: Many commerical real estate mortgages are 5-year or 10-year interest-only loans with balloon payments due at the end of the term.  So as those commercial loans made at the height of the real estate bubble start to come due (as they currently are), the property owner (probably a small business owner) will have only a few choices.  They either have to pay off the entire balance, which is unlikely for most businesses since they're probably already struggling to make ends meet.  Or they'll have to re-finance the loan, which is also unlikely because 1) property values are much lower now and the property is probably not worth the loan amount anymore, and 2) lending standards are tighter and commercial loans are very hard to get.  So if these loans can't be re-financed or paid off, the only other option is to sell the property before the loan is due.  Many property owners will wait too long, not realizing how long it takes to sell a commercial property in today's market and will consequently face foreclosure.  For this reason, I believe the commercial market could be the next big real estate crisis.

    Of course, I don't have a crystal ball, and nobody really knows for sure what tomorrow will bring.  Everybody with an opinion on the future of the real estate market is really just guessing :)  So my advice is guess carefully, and as always, buyer beware!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on October 19, 2009 | Permalink | Comments (5) | TrackBack

    Sunday, July 05, 2009

    AWOL Blogger Returns to BlogArizona - Happy 4th of July!

    I know I haven't blogged forever and a day, so I guess it's time again!  How could I have stayed away so long with so much to blog about lately?  Honestly, I've been overwhelmed with work and life in general.  Since the end of last year, the real estate & home inspection business have kept me working 12+ hour days, 7 days a week.  Funny how the free markets actually work if the government stops interfering long enough to allow it.  When AZ real estate prices came down low enough (last year), the buyers started to come out and inventory has come down significantly now.  No, it wasn't the stimulus or the tax credit - it was lower prices (a function of supply and demand, not government intervention).

    For those of you who have emailed and left comments telling me to update BlogArizona... thanks!  Even after months of not blogging, BlogArizona has still been visited by thousands of loyal readers and the search engines still seem to like us quite a bit.  In fact, I still rank high enough to command attention from the bubble bursting crowd (what an honor!).  After being quoted in this LA Times article by Nicholas Riccardi (which was also picked up by the Chicago Tribune, etc), I was recently bashed by Boom2Bust because I wasn't negative enough when discussing the Arizona real estate market.  Okay, in all fairness, Boom2Bust was actually criticizing the use of Arizona real estate professionals as sources for the article... an article which happened to be about the Arizona real estate market (need I say duh???).  Here's what Boom2Bust says about the Chicago Tribune article...

    "Nicholas Riccardi wrote on June 7:

    Phoenix’s housing bust has turned into a quasi-boom, a sign that its market might have hit bottom and a preview of what a housing recovery could look like.

    More homes are selling than at any time since 2006. Prices are slowly stabilizing. Buyers again are in bidding wars — only this time over foreclosed houses selling at deep discounts rather than ranch homes listing for vast sums.

    Riccardi’s sources? Individuals who could stand to gain from a rebound in the Phoenix housing market. From the piece:

    “The free market is at work,” said Shannon Hubbard, a real estate agent and blogger. “Prices got driven down so much that people said, ‘I’m going to come out and play.’ “

    Hubbard writes on BlogArizona.com:

    I’m a Realtor-Investor, maintaining an active real estate license with Great American Realty, Inc. I’m also Co-owner of Homewerx Home Inspections, and Owner of BlogArizona.com."

    There were a few other AZ real estate professionals quoted, and Boom2Bust concluded/implied that real estate agents just say good things about the real estate market so they can make money.  So who should Mr. Riccardi have called to interview for his article about the Arizona real estate market... some doctors in Nicaragua?  Everything stated in the article was true, and the sources for the information were fully and accurately disclosed - so what's the problem?  Boom2Bust goes on to give alternate sources of information about the Arizona housing market, to balance the opinions of us greedy real estate professionals who were quoted...

    "So, is there another side to the Phoenix housing story? Well, consider the following from Bloomberg’s Kathleen Howley and Erik Schatzker today:

    U.S. home prices may continue to tumble for years, according to economist and Yale University professor Robert J. Shiller.

    “Our sense that housing is a wonderful investment is really damaged now,” Shiller said in an interview with Bloomberg Television today…

    The Standard & Poor’s/Case-Shiller national index of home prices, named after the professor, has fallen 32 percent from a high in the second quarter of 2006."

    Note that Boom2Bust uses only national statistics and sources to talk about the Arizona real estate market.  Should we tell Boom2Bust that real estate is local?  The national numbers mean nothing to us here in Arizona, even if those numbers come from Yale scholars (Yale isn't even in Arizona!).  So Boom2Bust would prefer generic, national sources rather than first hand information from people in the AZ trenches?  The Arizona real estate market was among the hardest hit and therefore the first to start the recovery (when prices got low enough).  Who do you think is more likely to know when that recovery has started... a Yale professor or an Arizona Realtor?

    Okay... considering I haven't blogged in many months, I guess I should just feel loved since I'm still being contacted for interviews by major newspapers and bashed by bubble bloggers.  Never a dull moment.  But don't worry, I'll be back for more much sooner this time.  Hope you enjoyed your 4th of July weekend!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by BlogArizona BlogMaster on July 5, 2009 | Permalink | Comments (8)

    Monday, March 24, 2008

    Homeowner Needs Help with HOA Issue

    I get many emails from homeowners who are having problems with their Homeowner Associations, and are seeking advice.  I'm not an attorney, so I can't offer advice on how to handle specific HOA problems.  But I've been there myself, so I found the email below particularly interesting.  Without revealing any personal information, I'm posting the majority of the email along with my response:

    "I don't know if you can help me with this but if you can offer some help or direction that would be greatly appreciated.  I have a truck that I have had parked on the side of my house for four (4) years.  Nothing was ever said.  Now, I have received a letter from my HOA telling me I can't park it there because it can be seen over the gate.  Maybe six (6) inches of the roof.  And, that it is parked in a "Landscaped Area", which it is not. It is a utility area that is not landscaped at all.

    We buy these houses with big double gates so we can utilize the area behind these gates for things like this.  I can understand if it was something offensive, but no one has ever complained or said anything about the truck being there till this.  Any help?"

    My Response...

    "...I'm sorry you're having a problem with your HOA.  I had a similar problem myself and know first hand how frustrating it can be.  Obviously, every situation is different and your situation is probably based on very different facts, CC&R's, legal principles, etc.  And I'm not sure if you're in Arizona, but state laws also can affect your situation.  So the best advice I can give you is to seek advice from an attorney, which I am not.  From a homeowner standpoint, I can tell you that when I consulted an attorney in a HOA situation several years ago, the advice I was given was to work within the neighborhood to gain support and resolve the problem.  Here's what happened to me several years ago:

    We had a nearly new pickup truck parked in the 'third-car' area of our driveway.  But it wasn't paved like the rest of the driveway, it was covered with rocks.  The truck was driven every day, and we had been parking it there for about 3 years or more when a certain Board member decided to make a stink about it.  Our attorney told us that in our case, by allowing us to park there for several years, the HOA had given us "constructive notice" that it was allowed.  Our CC&R's did not specifically prohibit it, however they did not specifically allow it either.  So our attorney claimed that in the absence of a restriction, it was permitted.  Then the Board member tried to use some vague landscaping clause to make us stop parking there.  Of course, there were others in the neighborhood who parked in a similar manner, so we found them and got them to show up at the next meeting for support when we addressed the Board.  Since only a few people usually showed up to Board meetings, we only had to get a few neighbors to show up to have overwhelming support.  We also went to each of our immediate neighbors and had them sign statements saying that we had been parking there for years and they had no problem with it.  Additionally we went door-to-door and asked other neighbors who agreed we should be able to park there to sign a petition so we could amend the CC&R's to specifically allow it.  We came up just short of the 2/3 required for an amendment to the CC&R's, but it was enough to make the other Board members agree to drop the issue.  Shortly thereafter, the Board formally adopted a policy which allowed parking on rocks with certain criteria, which we met.  End of story.

    Again, your overall situation is different than mine, so you should speak to an attorney about the legality of your issues.  Much of the HOA's power comes from the CC&R's and an attorney can explain your rights under the CC&R's.  From a non-legal standpoint and from my experience as a homeowner, the power a HOA has comes from its members.  The unfortunate truth from my experience with HOA's is that in many cases, most members don't care and won't get involved in things they don't care about.  But if you can find those neighbors who are in similar positions, you may find strength in numbers.  Or you might find that others disagree with you totally and you are the minority in your neighborhood.  But chances are, there are others out there who recently got notices to stop doing things they've been doing for years also.  Did you recently have a new Board member elected who might be pushing a stricter agenda?

    Again, other than telling you of my experience, you're in lawyer territory!  While I can't advise you on how to handle your situation, I hope my story helps.  And I wish you the best of luck in resolving your HOA issues.


    Hope you found this interesting too.  Have a great day!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on March 24, 2008 | Permalink | Comments (16) | TrackBack

    Tuesday, March 11, 2008

    Foreclosure Rates and Neighborhood Crime

    Here's an interesting statistic:

    For every 1% increase in a neighborhood's foreclosures, violent crime increases 2.33%.

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on March 11, 2008 | Permalink | Comments (12) | TrackBack

    Friday, January 18, 2008

    AZ Termite Inspector Licensing Agency Going Away

    Termite tube found in an Arizona home during a pre-purchase termite inspection If you haven't already heard, the licensing agency for Arizona termite inspectors and pest control professionals is going away - for good.  That's right, the Arizona Structural Pest Control Commission (SPCC) is being eliminated.

    Amid allegations of "cronyism, inefficiency, overregulation and instability", the executive director was recently fired by the seven member Commission.  In protest, the 3 Commission members who voted against firing the executive director have resigned.  A committee of Arizona lawmakers have since voted in favor of, and are introducing a bill to disband the SPCC altogether.

    Under the new bill, regulation & licensing of pest control professionals, including termite inspectors, will be transferred to the AZ Department of Agriculture.  Arizona lawmakers also considered transferring the SPCC's duties to the AZ Registrar of Contractors (ROC) or the AZ Board of Technical Registration (BTR).  However, agricultural pest control is already regulated by the AZ Dept. of Agriculture, so they are the most logical choice.

    Last I heard, the bill was supposed to be introduced in early January when the AZ Legislature reconvened.  While I have not officially seen anything stating the bill has been introduced or approved, I was told by one of my State Representatives in early January that the SPCC's duties will be transferring to the AZ Department of Agriculture.  I think he told me a time frame, but I don't remember what it was.  So it sounds like a pretty done deal, even if it has not been officially approved.  AZ Governor Napolitano mentioned late last year that she would consider the recommendation to get rid of the SPCC, and the State Representative I spoke with did not say the SPCC might go away, he said it was going away.  Additionally, the SPCC (like all such agencies) is subject to review every ten years.  I believe the SPCC's sunset review is due in June of this year, and even in the absence of other legislation, I don't think the SPCC is expected to be re-authorized or renewed.

    So, the "good ole boy network" at an Arizona licensing agency...could it really happen?

    Of course, I'm being sarcastic - yes, it really happens and probably more than you'd ever believe.  I have personally witnessed the type of abuse of power alleged here at another AZ licensing agency.  Luckily, it was not not directed at me personally.  However, I would bet that it's much more widespread than the public really knows.  That's a real shame since these licensing agencies are intended to protect the public.  But when the agency is corrupt, it doesn't protect anybody - it just raises the cost of doing business.  And that cost is ultimately passed on to the consumer, which means the licensing agency ends up hurting the very consumers it was supposed to protect.

    By the way, I want to apologize to my loyal readers for my recent "vacation" from blogging.  Between the holidays, visiting relatives and another project I've been working on, the time has just gotten away from me.  But I promise to post again soon.  In fact, my friend the AZ Mortgage Guru recently sent me a very interesting article, which got me doing some research on another Arizona licensing agency.  And what I found is definitely worth coming back to read.  So be sure to check back in a few days and read all about it!

    Related articles:
    - State Pest Control Director Fired
    - Arizona Structural Pest Control Commission May Disband
    - Pest Control Agency May Be Disbanded
    - Napolitano willing to consider abolishing pest control agency

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on January 18, 2008 | Permalink | Comments (4) | TrackBack

    Saturday, December 08, 2007

    Indoor Air Quality & Pollutants in Your Home

    During the last 20 years, many homes have been made tighter to conserve energy, to decrease the amount of heated air that leaves the house in winter, and likewise, decrease the amount of cooled air that escapes in the summer.  At the same time, of course, there is less fresh, cold air getting into the house in the winter and less fresh hot air entering the house in summer.  This may seem like a good idea; it isn't.  Because the air inside your house is in an enclosed space, the concentration or level of pollutants can be much greater in the air inside than outside.  A tighter house has a lower ventilation rate.  As a result of ventilation decreases, the concentration of pollutants inside the home increases.

    Indoor air pollutants pose the greatest risk to people who are at home the most; babies, children, the elderly and chronically ill.  Ironically, these are the very same people who are most susceptible to pollution in the air.  Some indoor air pollutants like radon and asbestos are life threatening.  While others may not be life threatening, they can make your life miserable causing eye, nose & throat irritation, shortness of breath, dizziness, lethargy, fever and digestive problems to name a few.

    There are three basic ways to reduce and alleviate indoor air pollution:

    1. Source Control - the goal here is to simply eliminate the source of the pollutant
    2. Ventilation - both natural ventilation & mechanical ventilation will decrease pollutants within the home
      • Natural ventilation (open doors and windows)
      • Mechanical ventilation (using a fan)
    3. Air Cleaners - generally removes particles from the air, but not gas pollutants

    There are many different types of indoor air pollutants:

    the by-products of combustion, including environmental tobacco smoke;  respirable suspended particles;  carbon monoxide;  nitrogen dioxide;  volatile organic compounds (VOC's);  biologicals;  and electromagnetic fields (EMF's).

    Carbon Monoxide (CO) is a colorless, odorless, tasteless and nonirritating gas that can interfere with the supply of oxygen to the body tissues.  Its sources can include unvented kerosene & gas heaters, leaking chimneys & furnaces, car exhaust, gas stoves and tobacco smoke.

    Volatile Organic Compounds (VOC's) refer to a large number of organic vapors that contaminate the air.  It's common for VOC levels to shoot up temporarily, during and following new construction, renovation or refurbishing.  Therefore, it's important to increase ventilation as much as possible during and following any renovation.  Some VOC's are carcinogenic and there are numerous sources of VOC's including:  household products (paints, paint strippers & other solvents);  new carpeting, drapes & furnishings;  wood preservatives;  aerosol sprays;  cleansers & disinfectants;  moth repellents & air fresheners;  stored fuels & car supplies;  hobby supplies;  dry cleaned clothing;  and environmental tobacco smoke.  When present indoors, tobacco smoke can be a major source, or significant part of indoor air pollution.

    Biologicals include things like fungi, molds and dust mites.  Higher levels of humidity tend to encourage their growth.  The two major actions to control biologicals are controlling the moisture and keeping your home as clean as possible.

    Electromagnetic Fields (EMF's) are a combination of electric fields and magnetic fields that radiate from electric cables, wires, fixtures and appliances.  They include any appliance that either: uses electric bulbs; has an electric motor, such as a refrigerator, freezer, clothes washer, hair dryer, shaver, food mixer, blender, vacuum, etc.;  or has an electric heating element, such as a clothes dryer, iron, electric blanket, stove/oven.

    The data is not conclusive regarding EMF health hazards.  It seems to indicate that the most likely health effects of exposure to EMF's would be in the areas of cancer and reproduction.  While a cause and effect relationship has yet to be established, a statistical association has emerged between exposure to EMF and cancer risks and reproduction malfunctions.

    • 1979 - a study done by two Colorado epidemiologist, found that a greater percentage of children who lived near power distribution lines had cancer, compared with a control group.
    • 1986 - a study commissioned by the New York State Power Lines Project to see if the results could be repeated using a different group of children in Colorado.  The findings in that study substantiated the earlier findings.
    • 1989 - the Congressional Office of Technology Assessment concluded that "emerging evidence no longer allows one to categorically assert that there are no risks" from exposure to EMF's.

    Here's one (probably unknown) step to control and mitigate EMF in your home:  If you have an electric blanket, use it to warm the bed and turn it off before you get into the bed!

    Martin Spilo, Arizona Realtor with Gateway Properties in Phoenix, AZ      
    Contributed By: Martin Spilo
    Realtor ®
    Gateway Properties
    2430 W. Red Range Way
    Phoenix, AZ  85085
    Business: (623) 363-5685
    Email me

    Posted by Martin Spilo on December 8, 2007 | Permalink | Comments (2) | TrackBack

    Friday, August 17, 2007

    Sub-Prime Mortgage Crisis Causes Fed to Lower Discount Rate

    Arizona real estate market has its ups and downs. Will lowering interest rates help the housing market recover? The Federal Reserve just lowered its discount rate by a half a point to 5.25% after continuous bad news from the mortgage industry and Wall Street.  The discount rate is the rate the Federal Reserve charges qualified lenders, usually banks, for temporary loans.  This move is mostly symbolic, as the Fed did NOT lower the federal funds rate as many expect will happen in September, and perhaps again in October (the federal funds rate is the more closely watched 'interest rate' which affects credit cards, home equity lines of credit, car loans, other consumer loans and eventually mortgage rates).  But obviously, the Fed is now MUCH more worried about the credit crunch than about inflation.  What started as a subprime mortgage problem is now wreaking havoc on Wall Street and the economy as a whole.

    As a Realtor®, lower interest rates would obviously make me happy.  Lower rates will decrease a buyer's monthly mortgage payment, therefore enabling more people to qualify and buy real estate.  But will lower interest rates really help solve the mortgage problem, or will it just create more inflationary worries?  And as mortgage companies tighten lending standards, will new buyers who qualify due to lower interest rates even be enough to offset those buyers who no longer qualify due to tighter lending requirements?

    It's not that lenders don't want to lend - trust me, they WANT to make loans available.  But the loans have to meet certain requirements or the mortgage company cannot sell them and free up money to lend to the next borrower.  So mortgage lenders are faced with a choice:

    • Make conforming loans that Fannie Mae and Freddie Mac will buy, or
    • Risk NOT being able to sell their loans in the secondary market

    As more and more of these risky loans go into default, there are less people willing to buy them.  Investors are pretty scared right now, as indicated by the big sell-offs on Wall Street over the past few weeks.  While there are definitely reasons to be concerned, I personally feel the media attention has made this problem out to be much worse than it really is.  If you believe what you hear on TV and read in the newspaper, mortgage companies are closing their doors.  Some really are, but it's still possible for someone with good credit and good income to get a mortgage (and shouldn't good credit and good income have been a requirement all along, really?).  But don't expect to find the 100% financing and 103% financing of years past.  If you plan to apply for a mortgage anytime soon, start saving now because you'll likely be expected to make a significant downpayment.  You'll also probably be expected to document your income.  Why?  Because people with good credit, good income and a large down payment invested DON'T generally walk away from their house/mortgage when things get tough.  On the other hand, people who put no money down and have so-so credit have very little to lose, and therefore can walk away from their home (and their mortgage debt) as if they were renters.

    In the short-term, stricter yet common sense lending requirements will cause panic and fear, and yes, fewer people will qualify for a mortgage.  But in the long run, stricter requirements will help make for a more stable lending environment, and ultimately a more stable real estate market.

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on August 17, 2007 | Permalink | Comments (2) | TrackBack

    Thursday, June 14, 2007

    AZ Real Estate Blogs & Bubble Bursters

    Arizona Republic Article About Valley Real Estate Bloggers Yesterday, the Arizona Republic did an article on Valley Real Estate Bloggers (at least that’s what the title was).  It was a little disappointing to read because it didn’t really have much to do with Valley Real Estate Bloggers.  In fact, BlogArizona.com was the only Arizona real estate blog mentioned.  While BlogArizona.com was the original Arizona real estate blog, there are many other great AZ real estate blogs that you couldn’t possibly miss if you were looking.  In fact, I even gave the AZ Republic reporter the names and URLs of at least 4 other Valley real estate blogs, yet none of them were mentioned in the article.  I mentioned Jay Thompson's blog, Bloodhound Blog, AZMortgageGuru and of course, my husband’s blog, the original Home Inspection Blog!

    The article did mention some Valley bubble bursting blogs, if you consider those to be real estate blogs.  These are the bloggers who cheer for decreasing home values and hope for a total collapse of the real estate market.  They wish hateful things on all who own real estate - investors and average homeowners alike.  I believe some of them have more of a political agenda, some have a business motive to hate real estate, while others are just bitter renters who were priced out of the market during the last boom.  Regardless of the motives, the amount of hate you find on these ‘bubble burster’ blogs is just WRONG, and it makes me question everything they post.  While some of the facts they tout may indeed be true, it’s hard to give any credibility to someone that’s hoping the real estate market will crash so that all property owners will be financially hurt.  Normal people do NOT think this way.

    As soon as I spoke with Glenn Creno, I suspected the article would focus on these bubble blogs.  He asked me several questions about them, and he was really curious why they were so hateful and what kind of person could seriously root for a collapse of the housing market.  So Jay, Greg, et al, don’t be offended your blogs weren’t mentioned -somehow I don’t imagine you’re losing sleep over it :).  You didn’t fit his agenda.  In fact, if anybody should be bothered by this article, it’s me.  BlogArizona was listed just beneath the Housing Panic blog, under the heading, “Critical of the Market”.  But at least the ‘chatter’ on BlogArizona.com “is more subdued” than the Housing Panic blog.

    Seriously, there are more important things in the world to worry about than some Arizona Republic article.  As one of the comments on azcentral.com reminded me, Paris Hilton’s in jail.  I have to go watch the news and see how unfairly she was treated today!

    Visit Shannon Hubbard's Home Page     Written By: Shannon Hubbard

    Great American Realty, Inc.

    Cell: (480) 695-6672
    Email me

    Posted by Shannon Hubbard, AZ Realtor & Computer Guru on June 14, 2007 | Permalink | Comments (2) | TrackBack


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