In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth). Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default. The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections. That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:

1. There’s nothing strategic about defaulting on purpose, especially when you have options like short sales, mortgage modifications, and refinance (just to name a few) that may keep you from foreclosure.
2. The waiting periods to apply for a new mortgage loan are at least five years less in a short sale vs. a foreclosure.
3. A foreclosure will show up on your credit report every time you apply for a home loan, car loan, new job, etc., and will affect your financial situation for many years to come.

If you are underwater and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community. If you have any questions about what steps you or someone you care about should take next, contact me today!

Lynn Otlewski

623-238-3875

Posted via email from Phoenix Home Rescue

Enjoying a morning the the co-founder of RE/MAX learning about our market and what the future will bring.

A little bragging…the average RE/MAX agent sells 13.1 homes per year, the next closest is Coldwell Banker with an average of 7.1. I guess that makes out 58 sales last year really good.

How about the Phoenix region? RE/MAX has 13.4% of the market with Keller Williams in second place at 8.55%.

Now you know why we are with RE/MAX and why it matters what agebt you choose!

Posted via email from Active Adult Photo Blog

Every wonder wish you could check out what’s happening in Sun City Festival here in Buckeye, Arizona? Now you can, all you have to do is click this link newsletter link and you’ll be taken to the newsletter. For residents of Sun City Festival this is delivered directly to them so they always know what’s happening in their community.

You might especially like seeing all the chartered clubs Sun City Festival offers but remember there are just as many non-chartered clubs throughout the community. If you’d like more information about this community visit www.RetiringToAz.com and don’t forget to download your free copy of our 33 page guide to buying an active adult home!

Posted via email from Active Adult Living

This new system supplies constant, unlimites hot water and saves 25% on hot water. Watch for more information on www.RetiringToAz.com in the coming days on this.

Posted via email from Active Adult Photo Blog

By: G. M. Filisko

While you’d like to get the best price for your home, consider our six reasons to reduce your home price.

Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.
These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

================
G.M. Filisko is an attorney and award-winning writer who made strategic price reductions that led to the sale of a Wisconsin property. A frequent contributor to many national publications including Bankrate.com, REALTOR Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Often I’m asked about hospitals and how close they are to the different active adult communities. Most of my clients are of the younger retiree age but they still have enough forethought to make sure as they age they will have access to good health care.

Here’s a couple of questions I’ve been asked and is included in our 33 page guide to buying an over 55 home-

Q:  Are there hospitals nearby? Are they any good?
A: As you can imagine with the advanced age of most of the residents, doctors and hospitals are close by. In fact Sun City West and Sun City both have the hospitals and doctors in the community. From just about any community you are no more than 20 minutes to a hospital and some are much closer.
The two nearby hospitals (Del Webb and Boswell) are both highly regarded hospitals and offer a high level of service. I can tell you from personal experience they are some of the best I’ve seen. You also have several other choices nearby and of course the Mayo Clinic is in Scottsdale.

Q:  How far is the VA hospital? Are there any VA clinics nearby?
A: Our local VA hospital is located downtown in Phoenix but they do have several clinics in the west valley that you can go to. The clinics are located within 10-15 minutes of most communities.

Having easy access to health care is just one of the reasons people choose the west valley of Phoenix over other areas like Tucson or Casa Grande. To learn more about buying a home in our area please visit www.RetiringToAz.com and request your free guide to buying a home in an active adult community.

Posted via email from Active Adult Living

The joke here is "There's 2 types of homes in Arizona, ones that have termites and ones that can get them". The tube you see is an example of what the evidence of termites look like.

The good news is unlike Florida where they have to tent a home for days, we can treat the ground around a home and kill them.  This was found during a home inspection we just had and we'll know later how much it will be to treat for them but usually it's 400 to 800 with a warranty.

Posted via email from Active Adult Photo Blog

Answer-  so good we have to use both sides of the white board for all the homes we have pending right now. If we keep selling homes like this I'll need another board. Good thing our software keeps track of all the important dates.

Hope to add your name to the board!

Posted via email from Active Adult Photo Blog

Here' just how beautiful cactus can be in the spring. This was taken at my neighbors house here in Trilogy at Vistancia in Peoria, Arizona.

Posted via email from Active Adult Photo Blog

Are these our future artists here at Trilogy at Vistancia in Peoria, Arizonia. Just one of the art classes offered here. To learn more about Trilogy visit www.RetiringToAz.com

Posted via email from Active Adult Photo Blog