Taxes on your home? Thank Obama in 2013….

I thought you might find this interesting, — maybe even SICKENING! 

The National Association of Realtors is all over this and working to get it repealed, — before it takes effect. But, I am very pleased we aren’t the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many realtors do you think will vote Democratic in 2012? 

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That’s $3,800 on a $100,000 home, etc. When did this happen? It’s in thehealth care bill, — and it goes into effect in 2013. Why 2013? Could it be so that it doesn’t come to light until after the 2012 elections? So, this is ‘change you can believe in’?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax. 

If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, — who often downsize their homes. Does this make your November, 2012 vote more important? 

Oh, you weren’t aware that this was in the ObamaCare bill? Guess what; you aren’t alone! There are more than a few members of Congress that weren’t aware of it either. 

You can check this out for yourself at:

http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

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Selling your home by yourself? IS it SAFE?

Are you a FSBO (For Sale by Owner)? How are you protecting yourself, your house and your family? You post your home online on Craigslist or another site, and how are you being protected from intruders? If I call you saying I am a buyer for your home, how do you know if the buyer is 

1) Qualified

2) Not looking to target your home in a robbery

3) Real

Okay, what am I getting at. Let me get to the point. When you market your home, you have NO real protection. If I, as a potential buyer, call you to ask all about your home, pictures, how I can look at it, you have set your self up for a home robbery. How you say? First as a seller, you are going to “keep” any buyer you get to call you to come look at your marvelous home. I can understand, to you, the seller, you are emotionally attached to your  property. You will give out more information then the buyer may need, such as your work schedule. If you shoot  pictures with your belongings in it, a person can see what valuables you may have. Also, how is the buyer going to come see the home? Are you going to be there? How do the buyers get keys? 

As a Representative of both buyers and sellers, I try to insure that all parties are being protected. I don’t show buyers that are not qualified homes. This eliminates potential frauds going through homes and insuring they are real buyers. To protect my sellers, I put a ARMLS lockbox on the home, to insure that I know who is going into the home and when. It also insures that buyers are going with a licensed agent. 

The short of the story is if you are thinking of selling your home by yourself, for your  protection you should conciser talking to a Realtor to help you. Help you protect your home, and protect yourself from any contract issues! Call or text me today if you have any questions! @480-275-9566

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3 mistakes when buying a new home

I thought there was some great information here for anyone buying or selling a home!

Brand-new doesn't equal problem-free

By Barry Stone
Inman News®

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July 12, 2012

DEAR BARRY: We bought our home when it was brand-new. There had been another buyer before us, but he backed out of the deal because of a foundation problem. The builder disclosed that the problem had been repaired. We were desperate and angry, so we purchased the property. Now we are selling it, and the buyer's home inspector says the foundation was not properly repaired. It seems that we've gotten ourselves into a real mess. What could we have done to prevent this? --Marion
DEAR MARION: You made three critical mistakes when you bought the property. The first was to buy it when you were "desperate and angry." Regardless of why you were feeling that way, a home purchase should never be based on negative emotions. Property is very expensive, and that kind of expenditure should be made only with clear thinking and sober rationale.
The second mistake was to accept the condition of the foundation without written proof of the repair work. Adequate proof would have been an engineering report on the foundation problem and a contractor's receipt for the corrective work.
The final error was purchasing the property without hiring a qualified home inspector. Buyers often assume that a new home does not need a home inspection, and many homeowners have come to regret that unfortunate assumption. Had you hired a home inspector, you might have learned that the foundation was defective. Then you could have had it repaired by the builder, or you could have backed out on the deal.
The question now is whether the home is still covered by the state mandated builders' warranty. You should check with an attorney or with the appropriate state bureaucracy to see where you stand in that regard.
DEAR BARRY: Our buyers hired a home inspector and he has made an expensive mess. While testing the dishwasher, he left room to inspect other parts of the house. We hadn't used the dishwasher in years and the door seals had become dry and cracked. By the time the inspector returned to the kitchen, the floor was flooded, and the hardwood flooring is now warped and must be replaced. Are we stuck with the cost of this repair, or is the home inspector liable? --Ralph
DEAR RALPH: The home inspector has just learned an expensive lesson: Don't leave the room when testing an old dishwasher. Had he remained in the room while the fixture was running, the leaking would have been noticed when it started, and the unit could have been turned off before the flooding occurred.
A good practice for home inspectors is to start the dishwasher first when inspecting a kitchen. That way, the unit can be running while the inspector is evaluating the cooktop, oven, vent hood, sink plumbing, cabinets, countertops, and so on. By the time these other items have been inspected, there will have been time for dishwasher leakage to become apparent.
You should discuss the issue of liability with the inspector, and be sure to ask if he hasinsurance for this kind of accident.

Economists expect 2013 home price rebound

HOMEOWNERSHIP RATE EXPECTED TO DROP IN NEXT FIVE YEARS

By Inman News
Inman News®

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June 25, 2012

After experiencing a slight dip this year, home prices will see modest increases starting in 2013 and through 2016, according to a quarterly survey of more than 100 economists, real estate experts and investment strategists.

The survey, conducted by research and consulting firm Pulsenomics LLC on behalf of real estate search and valuation portal Zillow between May 31-June 14, 2012, asked 114 participants to project the path of the S&P/Case-Shiller U.S. National Home Price Index over the next five years.

When last published May 29, the index showed that national home prices in the first quarter hit a record low, declining 1.9 percent from first-quarter 2011. Prices were down 35.1 percent from their second-quarter 2006 peak, to levels last seen in mid-2002.

The panel of experts surveyed by Pulsenomics said they expect the index, which covers all nine U.S. census divisions, will show a 0.4 percent annual decline at the end of 2012 and then increase by 1.3 percent in 2013. Their projections are more or less similar to what they were in the last quarterly survey in March.

The economists surveyed largely agreed on the trajectory of national home prices for first-time in the history of the survey, which dates to May 2010, Zillow said. The most optimistic quartile of panelists predicted an average 1 percent increase in home prices this year, while the most pessimistic expected a 2 percent decline. Most agreed that after the first quarter’s decrease, home prices will rise for the rest of 2012, Zillow said.

Nonetheless, 56 percent of respondents believe the national homeowership rate in five years will be lower than the rate in the first quarter: 65.4 percent. One in five projected the rate would be at or below 63 percent. The lowest rate on record is 62.9 percent, hit in 1965. 

“It’s good to start to see some convergence of expectations among economists, as it lends further support to the claim that a bottom is real,” said Stan Humphries, Zillow’s chief economist, in a statement.

“However, the fact that more than half of respondents believe that the homeownership rate will fall lower should be a sobering reminder that significant challenges remain ahead for the housing market, from negative equity to millions of foreclosed homeowners who now have impaired credit, making a return to homeownership harder than it would be otherwise.”

When compared to economists’ projections two years ago, the expected pace of the housing recovery is now considerably weaker.

“In June 2010, the average cumulative appreciation in U.S. home prices expected by our panel was 10.3 percent for the years 2012 through 2014,” said Terry Loebs, founder of Pulsenomics, in a statement. 

“Now, two years later, the average prediction among our experts for the same period is just 3.5 percent. This translates into $1.25 trillion less housing wealth than expected nationally over the coming three years.”

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Phoenix tops list of 10 turnaround markets

By Inman News
Inman News®

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May 09, 2012

Editor's note: Realtor.com's "Top Turnaround Towns" list is compiled using an algorithm that considers year-over-year median price appreciation, drop in year-over-year age of inventory, reduction of inventory levels compared to a year ago and year-over-year changes in unemployment rate. All data, unless otherwise indicated, reflect analysis on a quarterly basis.
It's sunny and international in Realtor.com's "Top Turnaround Towns" for the first quarter of 2012. Seven of the top 10 metros on the list are found in Florida. Seven also made the cut in a recent Inman News analysis of public records that identified the top 10 U.S. hot spots for global buyers.
Miami, Orlando and Naples -- No. 2, No. 3 and No. 5, respectively, on the Realtor.com turnaround list -- all ranked in the top 10 on the Inman News list of hot markets for global investors. Orlando, despite having lower and fresher inventory than a year ago, might be in the most precarious position of the three, having experienced 9,330 foreclosure filings (one for every 101 homes) in the first quarter.
Regardless, the fact that Phoenix and parts of Florida hit especially hard by the downturn are beginning to perform well lends an optimistic tone to the springtime buying season.
"By all indications, the 2012 housing market is unfolding as we expected, and we're encouraged with the progress local markets are making," said Steve Berkowitz, CEO of Realtor.com operator Move Inc.
The Miami area is especially hot, even though it lost its No. 1 ranking on the list this quarter to the Phoenix-Mesa, Ariz., metro. In March 2012, according to the Miami Association of Realtors, 65 percent of all home sales in Miami-Dade County were all-cash, and for-sale inventory dropped 48 percent from last year's first quarter. Median list prices saw a year-over-year jump of 24 percent.
The fast-rising Phoenix-Mesa, Ariz., metro continues its remarkable turnaround as No. 1 on the list, up from No.4 in the third quarter of 2011 and No. 2 in the fourth quarter of 2011. Just two years ago, in 2010, it topped the nation's metros with 55,732 bank repossessions in that year.
A substantial reduction in year-over-year for-sale inventory (48 percent), a sharp year-over-year drop in median age of inventory (33 percent) and the largest year-over-year median list price increase (27 percent) of any of the 146 metros Realtor.com tracks for the report landed the Phoenix-Mesa metro in the No. 1 spot. It also has a very good relative unemployment rate at 7.8 percent (February 2012).
Oakland, Calif., makes a surprise appearance on the list at No. 6, thanks to brisk home sales compared to a year ago (46 percent faster) and a steep year-over-year drop (48 percent) in for-sale inventory. From March 2011 to March 2012, the feisty, restaurant-rich Bay Area city had the largest drop (52 percent) of for-sale inventory in any of the 146 metros Realtor.com tracks for its top turnaround markets report.
With a low foreclosure rate in its county (one in every 519 homes) and a relatively strong unemployment rate (8.7 percent), the Boise, Idaho, metro continued its steady climb on the top turnaround towns list to No. 4. The Potato State capital had a year-over-year 37 percent drop in for-sale inventory and a near chart-topping 17 percent year-over-year increase in median list price on for-sale homes.
See Realtor.com's full 25 metro "Top Turnaround Towns" report here.

Location: Phoenix-Mesa, Ariz.

Year-over-year median list price change (%)	26.94%
Year-over-year median age of inventory change (%)	-32.94%
Year-over-year inventory change (%)	-48.04%
Unemployment rate (Feb 2012) (%)	7.8%

Phoenix airport and city skyline at sunset via Shutterstock

Happy 4th of July, AMERICA!

This day is a fun day filled with family BBQ’s, fireworks, Pool time, lake time, or just plain time to R and R. No matter how you celebrate the day, Have a great day!! 

I want Americans to reflect on what this day stands for. It stands for freedoms, rights, and protection from democracy. Without being political please reflect if we are getting everything from our govenment that we have the rights and freedoms to have.

Happy 4th of July AMERICA!!! Freedom is not free, and we STILL have the right to protect ourselves from our government! 

How's the MARKET? How's the numbers?

Thanks for the information!! HERE Are the numbers....It is real, we are low on inventory!
From: Fletcher Wilcox and Corrie Johnson
June 7, 2012

Report: Shadow inventory dwindled for single family properties in Greater Phoenix 

  For a You Tube video on shadow inventory in Greater Phoenix go to http://mytitleguy.com/2012/06/shadow-inventory-phoenix/

 1. Shadow inventory defined as the number of properties foreclosed on that are now being held by the lender (lender-owned) but not on the market.

 The number of lender-owned single family properties that are not listed or pending dropped twenty-seven percent from May 1, 2010 to June 1, 2012  for a total of 3,562.  So, there is not a dark shadow of properties lenders are holding and waiting to dump on the market.     

                   Single family properties held by lenders but not on market

	May 1	June 1	Difference
Total	4,872	3,562	-1,310 or 27%

 2. Shadow inventory defined as the number of properties in the foreclosure process.  A Notice of Trustee's Sale was recorded against these properties in the foreclosure process.  These properties have yet to go to auction completing the foreclosure process.  Some of these properties will never go to auction because they will end up as short sales.    

There was a very slight increase in the number of single family properties in the foreclosure process.   From May 1, 2012 to June 1, 2012 the increase was twenty-eight properties bringing the total number to 16,903.  

 You might say that 16,903 properties is a lot of properties in the foreclosure process.   Yes, it is, but low compared to the days when there were over 30,000.  But what would happen to property values if all 16,903 single family properties in foreclosure were foreclosed on at auction and released into the market all about the same time?   It is doubtful this would happen.  In May 2012, 2,683 or sixteen percent of the 16,875 homes in the foreclosure process were foreclosed on.   

	May 1	June 1	Difference
Total single family properties in foreclosure process	16,875	16,903	+28 or less than one percent

For the first five months of 2012, there were 11,549 completed foreclosures compared to 23,410 for the same time period last year for a decrease of fifty-one percent.

	January thru May 2011	January thru May 2012	Difference
Completed foreclosures	23,410	11,549	- 11,861 or 51%

3.  The number of foreclosure starts is down for the first five months this year averaging 3,607 per month compared to 7,714 per month for the same time period in 2009.  I define a foreclosure start as the day the Notice of Trustee's Sale is recorded on a property.   

 Even though overall foreclosure starts are down there may be mortgage products that increase in foreclosure starts.  Housing Wire.com on May 31 reported that a study by Lender Processing Services said in April, 63,129 FHA insured loans nationwide went into the foreclosure process, while HUD said the number is 19,000.  Let's take the worst of these two numbers, 63,129.  If we divide by fifty states each state has 1,263 more FHA insured properties in the foreclosure process (of course some states will have more and others less than 1,261).  This is not a big number.  http://www.housingwire.com/news/fha-foreclosures-spike-73-april 

	2009	2010	2011	2012
Foreclosure starts for January thru May	38,572	29,238	21,799	18,034

                                                       Monthly Foreclosure Starts

 Conclusion

 The Greater Phoenix residential market had some of the highest appreciation during the boom and then was one of the first areas to collapse.  Because most foreclosures in Greater Phoenix go through a foreclosure process called a trustee's sale, which is much quicker and less expensive than a judicial foreclosure our market disposed of foreclosure properties much sooner than most other areas of the country, especially those that rely on judicial foreclosures.   

  The decline in foreclosures leading to a decline in listing inventory has led to an increase in sold prices.  The question now is where will listing inventory come from?                                                    

                                                      Declining Listing Inventory

Single family activelistings under $200,000in Greater Phoenix	March 13	April 12	May 13	June 7	March 13 to June 7
	3,194	2,738	2,430	2,305	-889 or 28%

 The information for this report is from NetValueCentral.com and the Arizona Regional Multiple Listing Service, Inc.