Southwestern Style, LLC Real Estate

Yesterday the U.S. Congress approved the bill that will extended the closing deadline on Home Buyer Tax Credit for those that qualify. Although this bill will not help buyers who were not under contract prior to April 30, 2010; reports claim that it will help approximately 180,000 home buyers who qualify. For homebuyers that were unable to meet the original closing deadline of June 30, 2010 due to the overwhelming volume of deals to be negotiated with banks and settlement offices; this is great news. The Home Buyer Tax Credit will now give these homebuyers until September 30, 2010 to meet the new closing deadline which will allow an $8000 tax credit for first time homebuyers and a $6500 for others purchasing a new primary residence.

As a Realtor in Arizona, it was very frustrating to see our homebuyers on the verge of losing out on the Home Buyer Tax Credit, because we were at the mercy of banks and settlement offices. When I read that yesterday the U.S. Congress had approved the extension of the Home Buyer Tax Credit closing deadline; I was thrilled for our Arizona buyers. I am encouraged by the extension and am hopeful that banks and settlement offices can meet the new deadline so that homebuyers will not miss out on the Home Buyer Tax Credit due to reasons out of their control.

Are you one of the Arizona Homebuyers that missed out the Home Buyer Tax Credit due to contractual time frames? Don’t worry, that doesn’t mean you have to miss out on all the great deals still available to Arizona Homebuyers. You can Search Arizona MLS on www.Valleymove.com 24/7 or register for our New Listings Notifications which will email you as new homes come on the market.

If you would like to get more updates regarding the Arizona Real Estate Market, Please feel free to subscribe to my blog or visit my website at www.Valleymove.com. Make today Great because "Positive Thinking Creates Positive Results!" Katy Mosley, Broker/Owner Southwestern Style Real Estate

Fannie Mae and Freddie Mac join HAFA (Homes Affordable Foreclosure Alternatives Program)

Fantastic News! Finally...its been a slow go but Fannie Mae and Freddie Mac have got on board with the HAFA Program!

Borrowers do have options! Under the HAFA Program...

Many homeowners may feel that they can no longer afford their home, but want to avoid the negative effects of foreclosure.

The Home Affordable Foreclosure Alternatives (HAFA) Program offers homeowners, their mortgage servicers, and investors an incentive for completing a short sale or deed-in-lieu of foreclosure. With these options, under HAFA, a homeowner leaves their home to transition to more affordable housing and alleviate the mortgage debt they owe.

These options are available for homeowners who: 1. do not qualify for a trial mortgage modification under the Making Home Affordable Program; 2. do not successfully complete the trial period for their modification; 3. miss at least two consecutive payments during their modification period; or 4. request a short sale or deed-in-lieu of foreclosure.

Now those who hold Fannie Mae and Freddie Mac home loans will now be able to pre-approve the short sale for some eligible borrowers under the HAFA Program  Effect as of August 1, 2010.

Even if your loan is not held by Fannie Mae or Freddie Mac you may still qualify for the HAFA program. Simply ask!

To find the details please visit ValleyMove's Short Sale and Foreclosure Infomation Page with details on the HAFA Program.

Laura McDaniel, Assoc. Broker/Owner, CBR, ePro,

 Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales

 

Phoenix, Arizona March 29, 2010 — Laura McDaniel with Southwestern Style Real Estate  has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

 

 

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

 

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS^Ò are required to take one core course and three Webinars.  For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

When you are looking for help with selling you home short sale or purchasing a foreclosure Call Laura at 602-684-9224 or visit www.valleymove.com

Home sales jump in October, beating expectations - October U.S. home sales rose 10.1% from September, beating expectations, as the first-time home buyer tax credit helped spur sales.  The National Association of Realtors said sales of existing homes, including single-family, townhomes, condominiums and co-ops, surged to a seasonally adjusted annual rate of 6.10 million units in October from a downwardly revised pace of 5.54 million in September.  The rate is 23.5% above the 4.94 million-unit level in October 2008.  It was the highest sales level since February 2007.  Sales had been expected to rise to an annual pace of 5.65 million, according to economists surveyed by Thomson Reuters.
http://www.usatoday.com/money/economy/2009-11-23-existing-home-sales-oct_N.htm