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Welcome to ScottsdaleCondos.com
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Contact the webmaster:RoostersBeak@hotmail.com |
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CLICK HERE to connect with us on
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Enhance your Condo’s exposure! By using multiple, targeted websites to increase our internet presence, your CONDO will be in front of millions of potential buyers who may not have seen it otherwise.
In addition to www.ScottsdaleCondos.com, we operate 4 additional high traffic websites to feature your Scottsdale Condo. Check them out!
Your CONDO will also be featured on |
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Half of All Arizona Homeowners Underwater According to a recently released report from the mortgage reporting firm, CoreLogic, almost half of all Arizona mortgages were considered to be "under water" as of the end of the first quarter of 2011. Or in other words, the most recent numbers show that almost have of homeowners who have a mortgage in Arizona owe more than their homes are worth. The only state that fared worse than Arizona was Nevada, at a rate of 63 percent of homes under water according to the report.
An underwater mortgage is a home with negative equity - when a person owes more on their mortgage than their home is worth.
In addition, the report said that Arizona homeowners who were under water averaged $60,000 in negative equity. This was actually below the national average of $65,000, but these raw numbers are obviously influenced by overall housing prices as well. For instance, New York borrowers held the highest negative equity with an average of $120,000, but only 6.2 percent of mortgages in that state were under water.
While large surpluses of housing are still keeping both housing and banking in gridlock. Many experts do believe that we have finally perhaps hit a bottom in our cycle of price drops. In addition, foreclosures have begun to stabilize somewhat and that is a positive sign, but with so many homes underwater, there are still many issues to sort out.
Arizona state housing officials have said that requests remain high from people seeking help with their mortgage payments. "We have been seeing a lot of activity," said Shaun Rieve, spokesman for the Arizona Department of Housing.
Rieve said that the department got more than $267 million from a federal program that targeted states with the biggest losses in the sub-prime mortgage crisis of 2008. The Principal Reduction Program could allocate up to $50,000 toward a homeowner's principal if the lender matched that amount, up to 31 percent of the mortgage, according to the state housing department. But Rieve said few big lenders came on board with matching funds. He said Bank of America was one of the few to come on board, while the state "can't get Chase (Bank) or Fannie (Mae) and Freddie (Mac)" to sign on.
The department has since redirected $36 million to an unemployment assistance fund that pays up to $2,000 a month in mortgage to unemployed homeowners who meet other requirements. The new program has been far more successful, he said.
These programs are steps in the right direction, as the central issue at this point in housing is creating a situation that will allow motivated homeowners to commit to the home and mortgage they have, modify their loan in some way or leave their home all together.
SOURCE: Strategic Mortgage Newsletter 10/4/11 |
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IMPORTANT! CLICK HERE for update on new refinance program for underwater homeowners |
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Featured Scottsdale Condos: |
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Welcome to ScottsdaleCondos.com, an affiliate website of Condo Living Realty in Scottsdale, Arizona.
Whether you are in the market to sell or buy, our mission is to provide you with the service, tools and resources to allow you to achieve all of your Arizona real estate and investment goals.
Important forms, links and FAQ can be found on the middle and bottom sections of this web page. Condo developments and units for sale can be found using the links toward the top.
We look forward to hearing from you soon!
Jeff Tallman, Broker Office: 480-543-7007 Cell: 602-315-6333 |
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HOME SWEET CONDO |
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Scottsdale & Valley Winter Events Calendar 2011-2012 (click date link for event website)
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Jeff Tallman-Experience & Qualifications
Arizona State University, W.P. Carey School Of Business, B.S., Business Administration, 1983, With Honors
Licensed Real Estate Broker, State Of Arizona
PepsiCo, Business Development Manager: Phoenix, Southern California, Las Vegas, Seattle, Hawaii, Alaska
Affiliated with:
Scottsdale, Arizona & National Association of Realtors
Life Member, Arizona State University Alumni Association, Sun Angel Foundation, Sun Devil Club
25+ years experience in Valley Real Estate
Specializing in Scottsdale Condos, Town Homes, Vacation Homes, Second Homes, Resort Properties, Senior Housing, Investor Property, 1031 Exchange, Out-of-State Homeowners, Short Sales, Bank Owned and Foreclosures
Protecting And Promoting Our Clients Interests In All Their Arizona Real Estate Transactions!
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Sample Forms Library
Buyers Inspection Notice & Sellers Response
Consent To Limited Representation
Counter Offer...New 2/11
HOA Condominium / Planned Community Addendum
Loan Status Update (LSU)...New 2/11
Multiple Counter Offer...New 2/11
Multiple Offer/Counter Offer...New 2/11
Pre-Qualification Form...New 2/11
Real Estate Agency Disclosure & Election
Residential Purchase Contract...New 2/11
Short Sale Addendum-Purchase...New 2/11
Sellers Property Disclosure Statement (SPDS)
Unfulfilled Loan Contingency Notice
THINK GREEN, PRINT ONLY IF NECESSARY
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Arizona real estate BLOG
We Specialize In:
Condos Town Homes Second Homes Vacation Homes Resort Properties Senior Housing Out-of-State Homeowners Internet Marketing |
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Mortgage Rates At Record Lows:
Fixed mortgage rates have dropped to record lows on 30-year rates.
SOURCE: Wall Street Journal |
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Terms you should be familiar with:
HUD
HAMP-HAFA
Short Sale
Deed-In-Lieu
Condo Certification
Lender Approved Condominium Association
Owner Occupied
Investor Owned
Rental Property Statutory Assessor Registration |
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Did you know that….
According to the National Association of Realtors, 48% of 2nd home buyers pay cash
84% go online to find properties & brokers
Scottsdale is in the top 10 for 2nd home ownership |
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McCormick Ranch Office 7975 N Hayden Rd #C280 Scottsdale, AZ 85258 Business: 480-607-0200 Fax: 480-607-3370 |
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Northsight Office 13847 N Northsight #101 Scottsdale, AZ 85260 Business: 480-624-3149 Fax: 480-315-8378 |
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IMPORTANT! CLICK HERE for frequently asked questions regarding short sales |
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Enhance your Condo’s exposure! By using multiple, targeted websites to increase our internet presence, your CONDO will be in front of millions of potential buyers who may not have seen it otherwise.
In addition to www.ScottsdaleCondos.com, we operate 4 additional high traffic websites to feature your Scottsdale Condo. Check them out!
Your CONDO will also be featured on |
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Seasonal advertising and marketing partners include the following, both online and print publications: |
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Come and enjoy the southwest lifestyle in Scottsdale, Arizona! |
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IMPORTANT! CLICK HERE for information on mortgage debt forgiveness act |
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Real Estate Radio brought to you by Jeff Tallman & Condo Living Realty in Scottsdale, Arizona. Send us a note at: |
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CLICK HERE for McDowell Sonoran Preserve hiking trail maps. Photos by Jeff Tallman |
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The mortgage debt relief act is scheduled to expire at the end of 2012. If you are upside down on your condo (owe more than it is worth), now is the time to consider a short sale. When you sell your condo at a loss, and the remaining loan is forgiven by your lender, the IRS will not tax this “cancellation” of debt. A short sale prior to the end of 2012 could ultimately save you thousands of dollars. |