"And the Award Goes To....."

"And the Award goes to.... the Buyers who get their information direct from the MLS."

If you are relying on such sites as Realtor.com, Zillow, or Trulia.com, etc.  to find new real estate listings for sale, please note that these sites do not add new listings until 48 hours AFTER the house is listed on the MLS. The house you are interested in may be under contract by the time you are receiving the information

Currently there are only 13,761 properties actively for sale in Maricopa County (Phoenix area) and 13,747 homes under contract. We currently have a 2.4 month supply of homes. This means that , if no new listings come up on the market and we continue to sell at this pace, we will have no more homes to sell in 2 1/2 months. There are very few homes for sale.  Yet, our prices here in the Phoenix area, as well as the mortgage interest rates, are still low. This means that buyers need to be aggressive in purchasing a property. Most offers come in on properties in the first 2 days the home is on the market.

For the most aggressive strategy in buying, you need to have info direct from the MLS.  You can get a leg up on the competition by contacting Mike Drefs at 623-693-1505.  He will customize a search for you and his service is FREE to Buyers. 

"And the Award goes to YOU for getting your information direct from the MLS."

FHA Buyers.. Put the Pedal to the Metal!

Hear ye, Hear ye!  All Buyers intending to utilize an FHA Loan for purchasing a home, it is best to get an FHA case number assigned as quick as possible.  All FHA case numbers assigned on or after 6/3/2013 the FHA will collect annual Mortgage Insurance Premiums(MIP) for the life of the loan. What does this mean?

Currently, FHA borrowers would MIP until they could prove they had at least 20% equity in their property.  Once they had an appraisal showing the 20% equity, the borrower could petition the lender to remove this additional monthly charge.  Now, the borrower will be paying the MIP for the life of the loan, which in most cases, is 30 years. 

In addition, MIP factors are changing so not only will FHA borrowers be paying MIP for a longer time, but also they will be paying higher amounts.  So, if you are on the fence about purchasing and were planning on using an FHA loan because of its low 3.5% down payment, you better hurry and get under contract soon.

Click Here for more information.