Congratulations to Our April Buyers & Sellers!

Congratulations to Renee Hanson on her brand new home in Rio Verde. Private, quiet, beautiful views and the perfect floor plan for her. Brand new build and the finishes she wanted. Perfect! Many years of happiness in her pristine desert setting!

When is a dishwasher not a dishwasher? When it turns into a planter sometime between inspection and close of escrow! Gotta love home warranties!! Blessings and good wishes for many years of happiness to Kyle & Caitlin Clark in their charming first home in their favorite neighborhood!

Thank you, David Glassman, for referring the Clarks to us.

Selling Mother’s home is never easy but Sheri Robinson and Chris Benike  did a wonderful job updating and it paid off as they got the highest appraisal for a 2bd 2ba in Villa Antigua! Always a joy to help a friend of so many years and to know that Mom would have loved the new owner! Good job; Mother would be proud of you!

Selling Mother's home took a combined team effort to overcome a stubborn and difficult HOA! With the help of the seller, the buyer, the lender, and another condo owner we were able to close the deal. Thanks to Randy Schaffer for switching lenders and trusting that we could get him this condo! Many happy years to the new homeowner!

And, thank you to Cheryl and Alan Ogilbee for referring Randy to us.

Aunt Mary was watching over the sale of her home and steered a wonderful woman and cash buyer to it before it ever went on MLS! It certainly helped that our seller was so organized that all of the papers we needed for closing were at her fingertips! So glad that we have been able to help such a wonderful family. Friends forever, Rosemary Stralser!

Mazel Tov to Linda Brill for being the perfect buyer for Aunt Mary's house … soon with a new AC but that’s another story! She wasn’t afraid to move quickly to secure this home and her thorough approach made it a smooth transaction for everyone. Now we move forward to sell her beautiful home and it will be a perfect circle!

Thank you, Marjorie Abramson, for referring Linda to us. Namaste.

INTEREST RATE CHANGES AND FHA BUYER CHANGES

There are some financial changes coming that we feel are important for buyers and sellers to know. Interest rates are still low and we have heard from some lenders that there may be another small drop before June or July this year. However, the forecast is that interest rates will begin to rise late summer or early fall. We are getting this information from a variety of good sources so it is something you need to know if you are waiting to buy or sell a home. The prediction is that a 7% interest rate is not far off and no one is sure if the rates will creep up or make a dramatic rise. 

Another change coming is in FHA loans. FHA loans will soon have an increase of their Mortgage Insurance Premiums (MIP). Fannie Mae and Freddie Mac are trying to prevent a federal bailout and have to make more money on their loans. In the recent past, the MIP rates have gone from .55% of the total loan to what will soon be 1.35%. That takes the MIP payment on a $200,000 loan to $134.00/month! In addition, the ability to remove this payment once the owner has 20% equity in the home will no longer be available. The MIP cost will stay with the loan for the entire duration of the loan. Also, the choice to re-fi to get out of the MIP payment once equity is 20% will no longer be a good option if the interest rate jumps as predicted. 

The good news is that right now there are conventional loans that are low down payments like FHA and do not have the MIP insurance attached. As long as the credit score for the buyer is good, these loans can be a much better and lower cost choice! 

If you have been waiting to re-finance, we would advise that you do it now. If you have been waiting to sell the home you are in and then buy a larger home, you may want to re-think the timing. We are in one of the strongest seller’s market we have had in a long time, buyers are plentiful, interest rates are low, and inventory above $500,000 is good for buyers. If the home you are in will sell for under $500,000 and is in a high demand area, it won’t sit for long!

Call us if you want to know more!