HUD/FHA ENDORSES ELECTRONIC SIGNATURES!

8 04 2010

I just read an email from my e-sign service (EchoSign) informing me of the great news!  I will just give 3 reasons rapid fire off the top of my head why this is a HUGE move towards a better tomorrow in FHA related real estate transactions:

1. LESS PAPER!

2. EFFICIENCY!

3. CONVENIENCE!

Here is the post on the EchoSign blog about FHA/HUD allowing electronic signatures and showing a copy of the letter from the US Department of Housing and Urban Development.  (FYI, I am not related to the Assistant Secretary for Housing, David H. Stevens.)

What this means to YOU as an FHA homebuyer

You will now be able to sign contracts ON YOUR SCHEDULE, DO AWAY WITH EXCESSIVE PAPERWORK and have FASTER RESPONSE TIMES.  Contract signing will be done through email with the click of a button and stored securely on the e-signature service’s server, as well as copies emailed to you in pdf form once signed and filed.  The process in real time, about 5 minutes (unless you haven’t had time prior to signing to read the contract).

In other words, you will be signing contracts more efficiently and conveniently, while “going green” at the same time.  Of course, your Realtor has to be a part of one of these services.  If I were home shopping, I would make this a requirement of my Realtor.

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Phoenix Luxury Home of the Week #6

9 03 2010

Week 6 of the Phoenix area luxury home pick!  As always, I hope everyone is getting their week off to a positive start, and doing big things thus far in 2010.

Phoenix area Luxury Home pick #6

This week’s luxury home was chosen for its pool, mountain views, air conditioned garage, location, and I dig the monochromatic theme throughout the interior.

STATS:

  • Paradise Valley, AZ
  • 5 bedrooms
  • 5.5 bathrooms
  • 9,353 sq ft plus 1,100 sq ft guest house
  • 6 car garage
  • listed at $7,770,000 ($743.33 per sq ft)

That sums up the Phoenix area luxury home pick #6…Check back next week to see #7!

Please check out my previous Luxury Home Picks while you are browsing!

If you would like to discuss Phoenix area luxury real estate, contact me.

-Colin Stevens

*I do not represent this seller or listing.  It is brought to you by Realty Executives.




Busy Busy, and Phoenix’s Safest Neighborhood.

4 03 2010

It has been one of those weeks!  24 hours in a day, I need 10 more.  Between driving auction properties and the jazz band happenings, I have had zilch for time to write a blog post.  Apologies!  I will be on track next week with Weekly Luxury Home Pick #6, and a couple other gems=]

In the mean time, check out an article I read a couple days ago about Phoenix’s safest neighborhood according to a recent study.  This is my area of expertise!  I’ve spent most of my life in and around this area.

If you have any questions, call/email/fan me on Facebook!  Links are in the sidebar.





Phoenix Luxury Home of the Week #5

23 02 2010

Week 5 of the Million Dollar Monday Phoenix area luxury home pick!  As always, I hope everyone is getting their week off to a positive start, and doing big things thus far in 2010.

Phoenix area Luxury Home pick #5

This week’s luxury home was chosen because it simply Trumped all other options this week.  Sitting on just over 1/2 acre of land in the gated community of Stellar Airpark Estates, this home boasts a private airplane hangar with direct taxiway access, a 4 car garage on top of that, 2006 build date, and a feeling of being outside while sitting inside. 

STATS

  • Chandler, AZ
  • 4 bedrooms
  • 4.5 bathrooms
  • 5,050 total sq ft (4,580 sq ft main + 470 sq ft guest)
  • up to 12 car garage (if you don’t have a plane)
  • direct taxiway access
  • asking $2,400,000 or $475.25 per sq ft

That wraps it up for the Phoenix area luxury home pick #5…Check back next week to see #6!

Please check out my previous Luxury Home Picks while you are browsing!

If you would like to discuss Phoenix area luxury real estate, contact me.

-Colin Stevens

*I do not represent this seller or listing.  It is brought to you by Keller Williams Realty East Valley.




Phoenix Luxury Home of the Week #4

15 02 2010

Week 4 of the Million Dollar Monday luxury home pick!  As always, hope everyone is getting their week off to a positive start.

Phoenix area Luxury Home pick #4

This week’s luxury home was chosen for its entry way (specially the statue), city views, contemporary/art deco styling cues, and not only the garage space, but the fact that it is AIR CONDITIONED too!

STATS

  • Paradise Valley, AZ
  • 4 bedrooms
  • 5.5. baths
  • 8,700 sq ft
  • 5 car garage
  • 3.8 acre estate
  • asking $9,550,000 ($1097.70 per sq ft)

That wraps it up for the Phoenix area luxury home pick #4…Check back next Monday to see #5!

Please check out my previous Luxury Home Picks while you are browsing!

If you would like to discuss this home in particular, or Phoenix area luxury real estate in general, contact me.

-Colin Stevens





Phoenix Neighborhood Update-Entrada, #3

13 02 2010

Back again for the round 3 market snapshot of the Entrada Neighborhood in Northwest Phoenix, Arizona (includes Entrada, Entrada North and Entrada Northeast). As I stated in my first update and my Entrada neighborhood Profile, it is a neighborhood of several housing options and close proximity to Arrowhead Mall (aka Arrowhead Towne Center), Shops at Norterra, and both the I-17 and Loop 101 Freeways in Northwest Phoenix, Arizona.

As of February 12, 2010:

10 active listings (2 of which have offers submitted to the lender, awaiting the short sale process)

Prices ranging from $139,999 to $595,000

5 homes are under contract and on schedule to close very soon

1 home has closed within the last 1 month (since January 10, 2009)

Sold for $178,000.  It is a 2009 sq ft home, which breaks down to $88.60 per sq ft.  Homes sold over the past 3 months average of just under $100 per square foot, so needless to say, this buyer got a great deal when looking purely at price per square foot.

If you like the Entrada neighborhood in Northwest Phoenix, contact me via email/call/txt.





Housing Tax Credit…TIME IS ALMOST UP!

4 02 2010

If you are a first time home buyer or a current homeowner, and are still on the fence about whether or not to buy, read the information below regarding the tax credit and then decide if you still want to wait.

The original tax credit has been extended and is almost over with!  Here are the basic terms:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Can YOU get this this?

Answer yes if you are

  • a first time home buyer, or if you have used the home being sold or vacated as a principal residence for five consecutive years within the last eight (if you purchase before April 30, 2010).  To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
  • looking to buy a primary residence (single family home, condo, townhome, co-ops)

April 30, 2010 is fast approaching, but YOU STILL HAVE TIME because you don’t have to CLOSE by April 30 to get the credit.  If you have a home under contract by April 30, then you have until July 1, 2010 to close.

How is your amount determined, you ask?

Price and Buyer Income.  Under the Extended Home Buyer Tax Credit,

  • credit may only be awarded on homes purchased for $800,000 or less.
  • single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

Do you make more than that? There is still hope!  Some buyers may still be eligible for the credit, however, the credit amount decreases as your income increases.  See below.

  • The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Oh, and the icing on the cake?  YOU DO NOT HAVE TO PAY THIS BACK!

Here is the 2009/2010 Home Buyer Tax Credit article from which I acquired my information.

In the words of SnickersWHY WAIT?

Contact me before it’s too late.