Kelli Grant Group

Berkshire Hathaway HomeServices AZ

3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community

3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community
$389,000

Grayhawk Townhouse Kitchen

This 3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community  is perfect for a winter home in desirable Encore at Grayhawk.  1725 sq ft single level townhome has granite, dark stained Alder cabinets, Plantation shutters and wood blinds, 18” tile floors with mosaic marble entry.  Chef’s kitchen has new brushed stainless upgraded appliances.  This 3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community  is a traditional sale so you can pack the moving van and get settled before winter!  Go to the property website for full details

This gorgeous 3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community  has mountain views of Pinnacle Peak and the McDowell mountains.  Private location with no one behind you.

The lovely 3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community is a close walk to the swimming pool, spa, and workout facility within a gated community.  There is easy access to TPC golf course, Barrett Jackson auction in January, spring training games, hiking, shopping, dining, or relaxing at a local spa.

Come home to your 3 Bedroom Townhouse in Grayhawk North Scottsdale Golf Community!  It’s ready and waiting for you to move in.  It’s not a short sale that you have to wait months for and it’s not a bank owned property that requires thousands in work.  Spend your winters in sunny Scottsdale, Arizona in the premier golf course community of Grayhawk.

Call Kelli Grant at 602-799-5420 to see this home before it sells!

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July 27, 2011 Posted by | Buyers, For Sale | , , | Leave a comment

When will I qualify for a mortgage after a short sale or foreclosure?

When will I qualify for a mortgage after a short sale or foreclosure?

Many clients who have gone through a short sale or foreclosure after 2007 are now asking me the question, “When will I qualify for a mortgage?” Housing is once again affordable and people want to take advantage of rock bottom deals. Prices in Phoenix, Arizona are hovering around the bottom. You can see from this chart that there haven’t been any drastic plunges or spikes over the past 9-12 mths as shown in previous years. Now is the time to buy a house and become a homeowner once again.  Now is the time to relocate, invest in a winter home, buy a retirement home, and invest in rental properties and fix-n-flips.

Monthly Ave Sales Price Maricopa County July 2011 Cromford Report

Another reason people are asking if they qualify to purchase a home again is because the FHA loan limits are said to be dropping significantly October 1, 2011. That means the buying power in the 3.5% down payment price range is much lower. In Maricopa County Arizona, the loan limit is currently $346,250. As of October 1st, it will be $271,050. That’s a decrease of $75,200 in buying power! Learn more about FHA Loan Limits.

Others questioning, “When will I qualify for a mortgage?” are homeowners who elected to do a strategic default because the equity is so upside down. These homeowners are hundreds of thousands upside down in a property and are well aware that the value will never rebound in their lifetime to what they originally paid, so they cut their losses short. They are now looking to invest in properties. Interest rates are low, prices are at bottom and there are several opportunities to fix up a foreclosed house and flip it – or buy and hold it to take advantage of the booming rental market.

Finally, the answer to the question: When will I qualify for a mortgage after a short sale or foreclosure?

The Waiting Period to Qualify for a Home Mortgage after a Short Sale, Foreclosure or Bankruptcy

The Waiting Period to Qualify for a Home Mortgage after a Short Sale, Foreclosure or Bankruptcy

The Waiting Period to Qualify for a Home Mortgage after a Short Sale, Foreclosure or Bankruptcy

* JUMBO waiting periods vary by lender
* Waiting period time frames may be less in situations with extenuating circumstance
*For LTV’s greater than 80% ‐ mortgage insurance guidelines may differ

Kelli GrantCall Kelli Grant to set up your custom web portal of MLS listings that match the property criteria, location and price range you’re interested in researching. You’ll receive notification emails up to once a day when there are price changes or new listings to see. Call Mark Taylor for your free loan consultation about which loan programs best suit your needs.

Kelli Grant specializes in short sales, pre-foreclosure options such as the HAFAprogram, and strategicdefault options in the cities of Phoenix, Scottsdale, Cave Creek, Anthem, Glendale, and Peoria. Kelli Grant is the neighborhood specialist for Sonoran Foothills and Tramonto. If you need to speak to a reputable, reliable real estate attorney or CPA about the legal and tax consequences of a short sale or strategic default, contact Kelli Grant.

Kelli Grant Realty

July 20, 2011 Posted by | Buyers, Financing & Mortgages, Short Sales | , , , , , | Leave a comment

FHA NEW LOAN LIMITS Oct 1st 2011- Get the facts dis-spell the myths

Such important information especially for clients who are still wondering is it the right time to buy. Well, with inventory shrinking, prices moving up and now FHA chopping a third of the loan amount off – the indicators are clear lets get an offer in on that home before it is gone.

Call me for help Kelli Grant in finding that perfect home

Via Mark Taylor FHA VA USDA HUD & Investor Loans (First Time Buyers Investors and move up buyers):

fha new limits for 2011

So with all the rampant rumors and conjecture by people who just want to make noise. I have attached the correct document from FHA on the proposed loan reductions.

“Who cares” an agent said yesterday – well my response was “you should and here is why!”

Barring a Congressional Stay our loan amounts will be reduced Oct 1st 2011

If there are buyers on the fence wanting to buy a home on the upper reaches of financing they will not be able to after Oct 1st. For example in Maricopa County Arizona currently the loan limit is $346,250 it will be $271,050 a drop of $75,200 in buying power!

In San Diego where I write loans it is dropping $151,250, In Monterey County it is $246,750 and Los Angeles County buying power is reduced by $104,250.

If you have offers on short sales, you need to see what can be done to expedite the process or start preparing for a back up plan!

To see how this may affect you go here: FHA LOAN LIMIT UPDATE

Serious Stuff Right?

When analyzed by potential impact on loan counts, nine states may experience declines that are greater than 5%: Arizona, California, Colorado, Connecticut, District of Columbia, Massachusetts, Maine, New Hampshire, and Oregon. When evaluated by potential impact on dollar volume, eight states may experience declines that are greater than 10%: Arizona, California, Connecticut, District of Columbia, Massachusetts, New Hampshire, Nevada, and Puerto Rico.

What does it really mean for us?

As with anything in our industry of late we are all fueled by the rumor mill and coffee house myth that somehow becomes an urban legend and quickly a fact – like QRM mortgages and the 3% tax hit on all sales of future real estate all of which have become very mute – but from the press and local MLS meeting you would have thought that the world had stopped turning.

Again I believe this to be the case. While any reduction in my ability to help someone finance a home is irritating to say the least the impact based on 2010 and 2011 performance will shock you as to how little of an impact this may have:

For the U.S. as a whole, approximately 3% of loans by count (33,301) and 6% by dollar volume ($14.2 billion) endorsed in calendar year 2010 would not have been endorsed had HERA limits been in effect. In calendar year 2011 to date (January through April), approximately 2% of endorsed loans by count (6,673) and 7% by dollar volume ($2.8 billion) would have been affected.

So yes this is an irritation, and a major adjustment for some. Good news is we have plenty of warning

For updates as they happen and often before they happen feel free to subscribe to FHA LOANS

Thanks for reading my FHA NEW LOAN LIMITS – Get the facts dis-spell the myths Oct 1st 2011


To get your free approval please call 602-361-0707

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July 14, 2011 Posted by | Buyers | , | Leave a comment