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Remove PMI Early!

Removing PMIRemove Private Mortgage Insurance As Soon As Possible

Private Mortgage Insurance (PMI) is required on a conventional loan when the down payment is less than 20% It will be removed once the equity on the home reaches 22% based on the original value.  However, there are different ways to eliminate PMI sooner rather than waiting for the equity to build up based on the original price or value. Keep reading to find out ways to remove PMI without refinancing soon that you thought was possible.

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Earnest Money Deposit – Don’t Lose It!

Protect Your Earnest Money

Why is earnest money necessary for a real estate transaction?   It is a deposit given to the title or escrow company indicating that the buyers are serious and have skin in the game. It also gives assurance to the sellers since upon a breach of it  will most likely be given to the sellers as compensation for taking the house off the market. How does a buyer keep from losing the earnest money, read on.

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2021 Housing Update and Prediction

2021 Market Review and ForecastHousing Market Review and Predictions

We are now entering the post pandemic real estate market and there is a mountain of speculation what it will look like.  The word “crash” is used frequently as well as “bubble”.   As the economy returns to as normal as it can under the current economic and government policy, buyers and sellers will be anxious to see if there is any balancing in light of what appears to be a severe housing shortage. In this post we’ll review the 2021 housing update and prediction for the rest of the year.

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Appraisal Contingency Waiver-Good idea or not?

Waiving The Appraisal to Compete with Cash Offers

In this seller favored market, buyers requiring a loan are looking for ways to compete with cash offers which have two distinct advantages. One is there is no unfulfilled loan contingency and the second is there is nno appraisal contingency.  In an attempt to  remove concerns over the appraisal coming in under the purchase price, buyers are using an appraisal contingency waiver.  This means the buyer will make up any shortfall between the purchase price and the appraisal value which has some significant risks. To learn more, keep reading.

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Pre Possession Occupancy-Arizona

Pre Possession Agreement – Early Move-in

A written agreement to move into a house prior to the close of escrow can be know as a pre possession agreement, pre-closing occupancy or early move in agreement. Regardless of the name, this addendum allows the buyer to move in prior to the buyer owning the home.  This adds additional risk for the seller.  Agents have a responsibility to advise their clients to seek professional counsel prior to entering into a pre possession / pre closing occupancy agreement.  

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Post Closing Occupancy Agreement

Post closing occupancy agreement formArizona post possession agreements are no big deal, right?

What is the solution when a seller needs an extra week to move out, or needs the funds from the sale of the home in which they’re living to purchase their next home?  What’s the problem with staying in the house they just sold for another week or two or even a month?  Well, plenty can go wrong!  And if it is something that you are considering, make sure a well thought out post closing occupancy agreement is signed by the buyer and seller.

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Lago Estancia Lake Community in Gilbert

Pedestrian Friendly Lago Estancia Lake Community in Gilbert

Lago Estancia in Gilbert-Lake Community

One of the smaller lake communities in Gilbert is Lago Estancia with just under 100 waterview lots.  A distinguishing character of Lago Estancia is the walking paths and bridges that allow residents to enjoy waterfront walks around the lakes.  Lago Estancia is located near downtown Gilbert that is flush with great restaurants and Hale Theatre. In addition it finds itself equidistant between the US60 the 202 to the south.

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2020 Market Review & 2021 Forecast

2020 Phoenix Real Estate Market Review & 2021 Forecast

On to another year that will see a change for the better in regards to COVID19!  With herd immunity and vaccinations rolling out,  there is reason for optimism. How did the Phoenix real estate market fare in 2020?  And what can we expect for 2021 with all coronavirus efforts? Let’s do a review of the Phoenix real estate market for 2020.  I’ve prepared a video that reviews 2020 and also points out some fundamental metrics such as negative equity and mortgage delinquencies that have been brought on by COVID19.  Continue reading to learn more.

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