How will the sunset of the Mortgage Debt Relief Act affect distressed homeowners wanting to complete a short sale?

Welcome!  And thanks for reading The West Valley Home Team's blog series answering Frequently Asked Questions about Litchfield Park and Goodyear Short Sales!

The Mortgage Debt Relief Act has provided the opportunity for millions of distressed and underwater homeowners take advantage of short sales or loan modifications without thousands of dollars of tax implications.  The law is set to expire at the end of the year and time is running out for homeowners with unaffordable mortgages to take advantage of its benefits.

For more information about the expiration of the Mortgage Debt Relief Act, please visit www.WestShortSales.com.  Get a copy of the report entitled "Congress Closing the Door on Debt Relief?"

For a free confidential consultation please call me at 623-252-9350.

SEPTEMBER - 2012 1 Minute Housing Market Update

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the SEPTEMBER - 2012 1 Minute Housing Market Update

If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

Toll Brothers Homes at Litchfield Park

National Sales Event Starts September 29th

Litchfield Park luxury home buyers can get more home for  their money at Toll Brothers' last National Sales Event of the year from September 29th thru October 8th.  Their National Sales Event will let buyers customize for less, lock in a low mortgage rate and take advantage of limited-time incentives.  The event will offer substantial savings and incentive packages that will give Litchfield Park luxury home buyers the opportunity to purchase a Toll Brothers at Litchfield Park home and stretch their buying dollars.

Toll Brothers at Litchfield  Park is located in the highly sought after Village of Litchfield Park and features spacious one- and two-story homes in this luxurious community.  Toll Brothers offers beautiful single-family homes with numerous floor plans and options in the last new home master-planned community to be built in Litchfield Park.

The Toll Brothers at Litchfield Park neighborhood features golf course home sites, pocket parks and green belts.  Family friendly parks include tot lots, basketball courts, and shade ramadas.  The homes are close to downtown Old Litchfield and the Wigwam Resort as well as all the West Valley has to offer.

The Toll Brothers at Litchfield Park Homes include The Cottonwood Collection,The Mesquite Collection, and  The Ironwood Collection:

Toll Brothers at Litchfield Park - The Cottonwood Collection

The Cottonwood Collection includes spacious one- and two-story homes with up to 4700 square feet.  There are 9 floor plans with up to 4 bedrooms.  These Litchfield Park Homes have granite countertops and up to a 3 car garage.  Some plans include a basement option.  The Cottonwood Collection lowest priced model starts at $270,000 and the highest priced model starts at $327,000, prices will depend on the options chosen.  There is currently one Cottonwood Collection Quick Delivery Home under construction that will be ready for move-in early Spring of 2013.

Toll Brothers at Litchfield Park - The Mequite Collection:

The Mesquite Collection features 6 huge floor plans with up to 5 bedrooms and 4 baths.  Some homes have a 4 car garage plus basement option.  These Litchfield Park homes offer luxurious living with up to 5,300 square feet of living space.  The Mesquite collection includes one- and two-story homes, some with the master suite on the first floor.  Prices range from starting at $361,000 to starting at $521,000 and the final price will depend on the options chosen.

Toll Brothers at Litchfield Park - The Ironwood Collection:

The Ironwood Collection features Toll Brother's largest home designs in the Village at Litchfield with up to 6,300 square feet of living space and up to a 5 car garage.  Some of these Litchfield Park homes include a basement option as well.  The Ironwood collections offers 5 spacious floor plans with up to 5 bedrooms.  Kitchens feature granite countertops.  Prices range from starting at $470,000 to starting at $593,000 and will depend on the options chosen.

If you would like more information about Toll Brothers at Litchfield Park and Toll Brothers National Sales Event please contact me at 623-252-9350.  Hurry though, lots are almost sold out!

To view Village at Litchfield Park Homes currently on the market please click on the link:

Village at Litchfield Park Homes MLS Search

We just posted a new blog post on our West Valley Short Sales Blog about Loan Modification Secrets.  Thinking about doing a loan modification?  Check out our site and download a free report "LOAN MODIFICATION MYTHS."  Find out the top 5 questions you should ask yourself before doing a loan modification by clicking on the link below:

www.WestValleyShortSales.com

Contact me today for a free confidential consultation.

Check out our newest post answering Mortgage FAQs.  Cal Carlson with Prostaff Mortgage answers how long someone needs to be at a new job in order to qualify for a mortgage.  Please click on the link below to view his post:

How long do I need to be on a new job to qualify for a mortgage?

Wondering if you should do a Goodyear short sale or just foreclose?  Check out the newest blog post on our Goodyear Short Sale Blog and download your free report, "The Foreclosure Fairytale" before you decide.  Please click on the link to visit our Goodyear Short Sale Blog and get your report:

www.WestValleyShortSales.com

If you or someone you know is in danger of losing their home to foreclosure, please contact me today for a free, confidential consultation at 623-252-9350.

Check out the new post on our Litchfield Park Short Sale Blog where you can download a free report entitled "The Foreclosure Fairytale."  This report compares a short sale vs. a foreclosure.

To view the blog post please click the link below:

The Foreclosure Fairytale Blog Post

To download the report please click on the link below:

www.WestValleyShortSales.com

If you or someone you know is in danger of losing their home to foreclosure, please contact me for a free, confidential consultation today at 623-252-9350.

Have you dreamed about owning a second home in Arizona?

Perhaps you find yourself in a position where it would make sense to have another home in a vacation location, like Arizona.

If your life and finances make owning a second home an option, you’ll be interested to know that there are still tax benefits, along with lifestyle perks to owning a second home.

Some exciting parts of home ownership are pretty evident in the purchase of a second home in Arizona. Firstly, if you can afford the initial expense, a second home used as a rental property can be a way to increase your income and cash flow. Also, in terms of quality vacation time and relaxing with family, a second home in Arizona for a yearly break seems a lot more “fun” than investing in mutual fund.

A third aspect to consider though is that homes typically are solid investments. The housing market regularly changes, however looking long-term, you’ll find that homes appreciate. Expecting to quickly buy and then sell an Arizona vacation home, however, can be quite risky, and is not recommended.

Whenever you purchase a home in Arizona, whether it is your first or your twenty-fifth, remember the key to good real estate investments. Location is critical. Trust your real estate agent to advise you on Arizona areas where you are not familiar, and make sure your investment is in a sound location now and in the years to come.

Depending on your area of interest, you may be able to find a great deal on a condo or home while mortgage rates are still low. Current low interest rates can provide for a more desirable property without increasing your budgeted amount, and depending on your situation, can be advisable to paying cash. Qualifying for a second home loan can be tricky, though, and if you intend to use the home as an investment, you will need to evaluate that the “numbers” make sense.

Owning a Second Home in Arizona- the Numbers

Some of those numbers, aside from any mortgage payment, include insurance, taxes, and maintenance costs. If you plan on using your Arizona home as a vacation rental, you will most likely need to plan on increased insurance, and additional furniture and furnishings costs too. Maintenance will be higher than just a simple garden and pool service, too, as cleaning and repairs will be required after each tenant. If you will not be living in the home, it is wise to hire a property management company to oversee the property - handling emergency weather and hazard events - from fires and thermostat regulation in desert home areas.

Prior to buying a second home you also need to consult with professionals who work with estates, taxes, and finances to make sure owning a second home in Arizona is the right decision for you. Consider whether the second home would pay for itself as an investment property or if you can realize tax-benefits with expenses or depreciation. You should also recognize that as a rental, the home will only be available for your personal use about two weeks per year, unless you agree to take less of a deduction. If you choose to only rent the home for up to 14 days per year however, you can still receive rental income, but tax deductions will not apply. As mentioned before, your tax professional should be consulted to fully explain current tax regulations on owning investment property. Either way, armed with the correct information and the right real estate agent, can explore the options of owning a second home in beautiful Arizona

How's the market is a question we get all the time and it's great to be able to say "Awesome"! The Litchfield Park Real Estate market is thriving, just look at the report below. If you're thinking of selling your Litchfield Park home then now's a great time to do it. If you're looking to buy a home in Litchfield Park then you better hurry, prices are climbing fast! Give us a call today at 623-252-9350 or check us out on the web at www.thewestvalleyhometeam.com. Subscribe Today and you can receive these valuable reports immediately!

It is important to set up a home maintenance schedule in order to prevent costly home repairs later on.  Old Republic Home Warranty has a great home maintenance plan that you can add to your calendar today:

ANNUALLY OR SEMI-ANNUALLY • SPRING

Plumbing

• Inspect septic field and tank area for flooding or odor

• Have septic tank inspected and pumped as needed

• Inspect water heater temperature pressure relief valve for signs of leaks or discharge

• Flush the water heater

Heating and Cooling

• Clean around air conditioner compressor

• Have heat pump or air conditioning system cleaned and tuned-up before cooling season begins

• Have evaporator coil inspected and cleaned, if necessary

• Have chimney(s) cleaned and inspected

Electrical

• Replace the batteries in smoke detectors twice a year. An easy way to remember this is to change the batteries when the time changes. It's also a good idea to vacuum out the smoke detectors when you change the batteries so they stay clean and operate at peak efficiency

Exterior

• Clean and inspect gutters and downspouts after trees have seeded; repair as needed

• Hose off house exterior; scrub off any mildew

• Clean gaps between deck boards, under decks and porches and treat for fungus and mildew as needed

• Check paint, siding, or masonry for deterioration.  Deteriorated paint can lead to widespread rot.  One topcoat of paint should last four or five years, but two coats can last twice that long

• Inspect weather stripping around windows and doors; replace as needed

• Inspect window screens; repair as needed

• Clean out basement window wells

• Clean sliding door tracks and lubricate with white lithium compound

• Inspect basement/crawl space and attic for signs of pests such as termites, carpenter ants, wasps, and hornets

ANNUALLY OR SEMI-ANNUALLY • SUMMER

Plumbing

• Check the flapper on your toilets at least once a year. If it is an older one, you may want to replace it since it could allow water through, causing your toilet to “run” continuously

Heating and Cooling

• Examine windows; re-glaze as needed

• Ensure all east, west and south facing windows are shaded to decrease cooling costs

Garage Door

• Clean and lubricate garage door tracks, rollers, springs and hinges; tighten screws

• Inspect paint and sealant on exterior and garage door, particularly along the bottom edge

Interior

• Inspect walls and ceiling for cracks, sags, bowing or leaning

• Clean and seal tile grout

ANNUALLY OR SEMI-ANNUALLY • FALL

Plumbing

• Close and drain hose bibs, drain and store hoses

• Check septic field and tank area for flooding

or odor

• Inspect water heater temperature pressure relief

valve for signs of leaks or discharge

Heating and Cooling

• Clean around air conditioner condenser, then cover to protect during the fall/winter months

• Have fireplace and flues inspected and cleaned, repair as needed

• Schedule heating system tune-up and cleaning

• Clean ceiling fan blades

Exterior

• Check paint, siding, or masonry for deterioration.

• Trim foundation plantings to leave a foot of clear space between plantings and house

• Rake debris away from side of house and other structures

• Clean gutters and downspouts; repair as needed

• Check roof for leaks

• Check exterior house siding

• Trim any tree branches near or touching roof or gutters

• Check all exterior caulk; repair as needed

• Insulate for winter – On a windy day, feel around the edges of doors, windows and fireplaces for any air leaks. Look for dust piles as clues to leaks.  Caulk and repair weather stripping as needed

• Clear storm window weep holes of debris

• Clean under decks and porches as well as the space between the deck boards

• Clean out basement window wells

ANNUALLY OR SEMI-ANNUALLY • WINTER

Plumbing

• Clean and seal grout

• Exercise (turn off and on) plumbing shutoff valves and inspect for leaks

• Inspect water heater temperature pressure relief valve for signs of leaks or discharge

Electrical

• Ensure your supply of flashlights has fresh batteries in case of a winter storm power outage

Exterior

• Inspect roof after large winter storms

• Inspect gutters and downspouts for leaks during a rainstorm

• Keep gutters free from debris and ice

• On a windy day, feel around the edges of doors, windows and fireplaces for any air leaks. Look for dust piles as clues to leaks.  Caulk and repair weather stripping as needed

If you would like a personal copy of the Old Republic Home Protection's "Homeowner's Tip Guide" complete 20 page owner's manual, please email me at cinda@wvhometeam.com.

For a monthly home maintenance list please check out:  Home Maintenance Tip Guide:  Monthly Maintenance Tips.  This post includes more tips from Old Republic Home Warranty Company for keeping your home in great working condition.