Archive for Arizona Real Estate

May
18

Ways to Pay Off Your Mortgage Faster.

Posted by: | Comments Comments Off on Ways to Pay Off Your Mortgage Faster.

It used to be that people would buy a house for cash or a loan with a much shorter payoff schedule than today’s typical 30 years.  The house would stay in the family and get passed on through generations.  Today – the average time spent in a house before selling it is 10-13 years.  Paying off the mortgage is still a goal many have.   Here are a few tips to help pay off that huge debt:

  1. Make an extra payment each year, by paying a little extra each month, or a full extra payment once a year.
  2. Setting up a bi-weekly payment will accomplish an extra payment a year.
  3. If you can’t make a full extra payment a year, even a little extra every month will help shave your principle.
  4. Sometimes refinancing can reduce the interest rate, thereby reducing the payment, making it easier to pay extra.
  5. Refinancing to a 15-year loan does wonders.   Look at ways to shave other expenses to enable a larger monthly payment.    If you do want to consider refinancing, carefully look at the numbers to make sure the expense associated with refinancing is worth it in the long run.

A good lender can help you decide and let you know your options.   Just ask – I can recommend a few trusted ones.

Comments Comments Off on Ways to Pay Off Your Mortgage Faster.
May
16

A Little South Mountain History

Posted by: | Comments Comments Off on A Little South Mountain History

In April of 1925, 70 members of the Kiwanis club completed a trail from the base of the new Phoenix Mountain Park- north side-  to the top of the mountain known as “telegraph pass.”

http://southmountainhistory.blogspot.com/2008/06/kiwanians-build-5940-feet-of-trail-to.html

 

Categories : Arizona Real Estate
Comments Comments Off on A Little South Mountain History
May
09

May’s Market Update

Posted by: | Comments Comments Off on May’s Market Update

April 2017 wrapped up with stats and momentum that confirm a continued seller’s market. With only 10,247 new listings entering the market in Metro Phoenix in April 2017, down 16% from the previous month and 7.3% from April 2016, supply is not keeping up with demand. So it’s not surprising that we’ve seen our third consecutive month of unusually high jumps in average sold price, up to a full percent again from last month to just over $292,000. Days on market has dropped to a value of 54, the lowest we’ve seen in years. Lenders are bringing back renovation loans to help buyers who are frustrated with the lack of updated inventory, and new builds continue to accelerate their market share as well. Interest rates have flattened back out around 4.2% for 30-year fixed loans, and summer 2017 may buck some of the typical slow-down trends.

Comments Comments Off on May’s Market Update
May
02

Want to buy a house, but don’t have a down payment? 

Posted by: | Comments Comments Off on Want to buy a house, but don’t have a down payment? 
You are not alone.  First-time buyers often have to plan and save for a few years.  Start by knowing how much down payment you need to pull together.   There are many programs not requiring 20% down.   A buyer applying 20% of the purchase price as down payment can avoid mortgage insurance.  But – there are 3% and 5% down payment loan programs.   Call or email for a few great mortgage loan offers to get an idea what your budget should be, and with that, how much down payment you’ll need.
  1. With the end goal as your target, start watching every expense and purchase.  Start eliminating all “frivolous” purchases.
  2. Create a separate savings account just for your down payment.   Have an automated deposit come out of each paycheck. 
  3. Buddy up with your spouse or friend and make a game out of it, start a little friendly competition and see who can meet the goal first or save the most each month. 
  4. Save unexpected money, such as a larger tax refund, bonus or gift. 
  5. Find a side business or hustle, a little freelance working or selling on Ebay. 
  6. Create a budget for your mortgage, if you plan on going from a $1,500 monthly rent payment to a $2,000mortgage payment, start putting that extra $500 away now.  This will boost your savings account and help you assess how you’ll manage the mortgage payment once you do buy a house or condo. 
  7. This may be hard in the Valley, but see if you can downsize the rental for a year or two. Rent cheaply as possible to save up for the house purchase. 
  8. There are a few down payment assistance programs for buyers that qualify (maximum income and minimum credit scores, generally). 
Again – please contact me so that I can recommend a knowledgeable lender to provide any and all mortgage information you need.
Comments Comments Off on Want to buy a house, but don’t have a down payment? 
Apr
02

Pecos/202 Realignment and the Market

Posted by: | Comments Comments Off on Pecos/202 Realignment and the Market

With construction in full swing along Pecos at Ahwatukee’s southern edge,  some sellers are seeing their success impacted.  Generally, the closer to the 202/Pecos, and the further west from I10, the more extreme the dampening on the market.   There are 3 zip codes in Ahwatukee, and two of them border Pecos.  From I-10 west to 1st Avenue is 85048. From 1st Ave west to the edge of Calabrea is zip 85045.

With slower moving inventory and softer appreciation, this zip code seems to be suffering from the negative hype and real traffic disruption-  and again, the closer to Pecos, the more challenging.   Perhaps because Club West and Reserve are such lovely communities, the sales have not ground to a halt.  But inventory is up, days on market are up, and appreciation is lagging many other areas in town.  So, those wanting or needing to sell in 85045, most specifically south of Chandler Blvd, will need to price wisely, and be patient while finding the right buyer willing to put up with the 202  construction.

Below is the Cromford Report market snap shot as of April 1st.  Call with questions or to discuss!

Categories : Arizona Real Estate
Comments Comments Off on Pecos/202 Realignment and the Market

Affordability Calculator

Monthly Gross Income $
Monthly Debt Expenses [?] $
Down Payment: $
Interest Rate: %
realtor fair housing

United Brokers Group
106 S Kyrene Road Ste 2
Chandler, AZ 85226

602-315-8330

Karla@KarlaRozum.com

Closing Cost Estimator

Loan Information
Loan Amount $
View/Edit Closing Cost Details