Friday, July 16, 2010

Your Opinion Needed on FHA Plans

FHA temporarily increased the amount that the seller can contribute to the buyer's closing costs from 3% of the sale price to 6%. Now they are thinking of reducing it back to 3%.

This is another example of the government getting in the way of a housing recovery. FHA is looking for opinions on this proposed change. Remember, as the government makes home sales more difficult, more houses will stay on the market and home values have to drop. Even if you aren't buying or selling in the immediate future, vacant houses affect you because of 1) the loss of property tax revenue to the city and county, resulting in reduced services, 2) the blight of vacant houses and 3) the reduction in your home's value, potentially making refinancing impossible.

Make your comments here.

Thursday, July 15, 2010

10660 E Rusty Spur Drive

This is the Arizona Dream. Horse property out in the country, with miles of riding trails in the wash across the road.
Extensive remodeling in 2005 raised the living room, foyer and kitchen ceilings to almost 12 feet.
Lots of wildlife and native vegetation. Serenity next to your diving pool. Family fun on the basketball court and playground. Dinner parties on the deep back porch.
Cozy fires in the family room. An eye-popping view of the Catalinas from your airy living room, with its huge arched window.
Custom-built painting studio with beautiful north light. Check out the interactive floor plan.

10660 E Rusty Spur Drive was offered at $299,000. This was a fabulous opportunity. Sadly, the bank refused to accept a reasonable short sale offer. AARGGGHH! This is part of the reason why the housing market is such a mess.