Many are looking back and reflecting on the year that has just passed, and that is understandable...


My biggest complaint for last year is that I am really tired of listening to the doom and gloom of the media and of most people in the real estate business.. Yes, 07' was different to 06' and way different to 04'-05'. It drives me crazy to hear people complain about things they can not change instead of adapting and taking advantage of new opportunities.

Real estate, as a profession, has one of the highest turn over rates of any business. People go out, get a license and think that someone will automatically begin to mail them commission checks. The fact is, to be successful it takes a lot of hard work, knowledge of our contract(s), people skills, determination and a willingness to help others and to represent their interest instead of looking for a quick buck. Long term relationships "pay" much better than short term opportunities. Just like investing in real estate.. The "flippers" went out and made some money for a while but most are now getting their tails kicked. On the other hand, people that invest their time and money in real estate for the long haul can and will continue to prosper. Think about it.. How much did you pay for that house in 2000? In 1995? In 1990?


I recall 04' and 05' when builders and some agents decided not to cooperate with other agents or to offer very small fees on the selling side. Not quite as many agents complained because we could "all" make a living in that over heated market. Fast forward a short time and you see builders and others paying up to 10% commissions (or more) for those buyers! The reason for those fees is competition.. A good real estate agent will make all of this competition work for their client! By doing so, the referrals come, the re-peat sales come and before you know it, a "down" market ranks up there (financially) with the "good" years. I know from experience that, in good markets and bad, there will always be people that buy and sell real estate.


I do feel bad for some of the people that have been hurt because of the correction but, there is a small percentage of these people vs. most Americans that don't (or didn't) use their home as an ATM.


I look forward to 08' knowing that there will be challenges AND opportunities in the market.

I also look forward to helping YOU with YOUR real estate needs.

Happy New Year! Let's make it a great 08'!

Bad MLS photos

In real estate, we all know how important location is. We have also discussed other factors that effect sales like pricing, condition etc.

Recently, I found a really great blog from Athol, a real estate agent in Connecticut where he allows people to post bad photos from property listings. Some of these pictures are hilarious, some are kind of gross. (Like the one shown here) Kind of makes you say.. "What were they thinking!?!"

While I am not a professional photographer, I do try to take decent pictures for our listings. Taking pictures of a bathroom or a small bedroom rarely pays off. Instead, I prefer longer angles and shots across a room. Kitchens should photo well, the home should be clean, clutter should be removed, pets should not be in the photo etc. If the home has a nice lot, show people. If the pool sparkles, let them know it etc..

With most people beginning their home search on the web, it helps to have them like what they see! :-) As a seller, you deserve it. As a buyer, it helps you make good decisions without wasting a bunch of time.

The main thing is.. If you are Buying or Selling Real Estate.. "Just Call Nick!" and I'll be glad to help.

An Arizona Snowman!

Most people think of Arizona as in.. "It's a Dry Heat!" Well, this week in Flagstaff anyway, it was darn right cold! Lori and I took the kids to the "Polar Express" where they got to meet Santa and take a train ride to the North Pole! Luckily, it is close to the cabin and we got to spend some time playing in the snow. Many of you know that I have lived in the Valley for approximately 35 years and prefer the heat over the cold! :-) In fact, I mentioned here before that I wouldn't want to live any place that I "had" to shovel snow. Well, we got hammered by a snow storm and, sure enough, I shoveled the drive way at the cabin in the morning before we came home. We all had a blast playing in the snow and making a snowman. Luke got to go to "The Winter Time" and loved it! Cole and Will thought it was pretty fun too, as long as the snow didn't touch their hands or face. Mom did a great job keeping them bundled up! I hope you like the slide show of a few pics from our trip.

Subprime Explanation

My friend Shailesh found this funny video "A British Explanation for the Subprime Mess." I found it to be "quite amusing!" :-) I hope you will too!

Mill Avenue District is "Growing Up."

The many new developments in Tempe are fun to watch. From Mosaic to Centerpointe to the new Monti's projet that we recently wrote about, the Mill Avenue District is really "growing up." Soon, the Valley's Light Rail system will travel right through the community. If you haven't been down there lately, you will be amazed. If you have, you can't help but notice how "alive" the area is. People of all walks of life enjoy this area. From the Arts Center to small coffee shops to million dollar condos with HOA fees in the $1100.00 per month range! :-) The park, the lake and near by hiking at "The Butte" / "A" Mountain are all things that people love as well. I found this cool video that shows some of the many existing and proposed changes in the area.Take a look!

Holiday for the Devils

Selfishly, I would have liked to see a Fiesta Bowl bid for ASU but the Holiday will be a good test against a good Texas team.

My friend Nathan and I had a blast at the ASU vs. UofA game last night. We met some of his friends (now mine too) before the game. Interesting group.. Some ASU fans, some UofA fans, made for a fun night! Even the Cat fans were nice and they took our jawing in stride while talking a little smack themselves. The thing about the "Territorial Cup" is this.. You NEVER know who is gonna make the big play, get the huge turnover or come out ahead. The record from the season can pretty much be thrown out the window as both teams get up for this game like it is the National Championship. I sent a text message to my buddy Matt (also a season ticket holder) with about 1:45 left in the game simply saying.. " How bout them Devils!" I knew full and well that he was going nuts wanting that clock to run out. Even with a 10 point lead near the end of the game we know that if any crazy thing can happen, this is the game for it. About a half hour later, Matt finally felt relief knowing the win had been secured! :-)

I took this picture from above the student section right after the game as it kind of summed up the feeling of a great win for our Devil's.

It's a Christmas Tree..

I read an article this past week about the dedication of our "Holiday Tree" at the State Capital. Our politically correct Governor was quoted as saying "call it what ever you want."

This subject is laughable. Everyone knows that the big, green, decorated tree is a CHRISTMAS Tree. It is ok if someone doesn't celebrate Christmas. Maybe they have different beliefs etc... But, for anyone to call a Christmas tree a "Holiday Tree" makes no sense to me..

If you believe in Kwanzaa, Hanuka or anything else, that is up to you. I believe there is a "Holiday Season" and we are certainly in it. But the big green tree with decorations on it... It is a Christmas tree. :-)

Happy Holidays EVERYONE!

Just "Google" Nick

Yesterday, I got an email from a friend that tried to find me on-line. He was at work and didn't have my contact info with him. Being a software engineer, he automatically knows to "Google" my name to see if he can find me.. Part of his email is as follows..

Hi Nick,
Wow, you're an easy man to find. Google search 'Nick Bastian' and sure enough.."Just call Nick"! A friendly reminder that you helped me sell my furnished condo in Augusta Ranch a couple of years ago. Hope business is still going well. When you have some time, please give me a call or let me know what time is good for you....

It's good to know that you all can find me when you want.. Web sites, phone, email... Remember to Just Call, Google or Email Nick!

My New Friend - He's Alright..

Most of you know me and know that I love my job and enjoy meeting many new people every year. One of my recent favorites is Ysidro. A couple of months ago, I helped Ysidro and his family sell their home in Chandler and I knew I liked this guy from the minute I met him.. Kind of a "tell it like it is" type of guy. As our transaction progressed and even after closing, I learned a lot about his life and about his family. He is a great dad, very prideful of "his girls" and I really respected that. I also learned that he was once a "crazy paratrooper" amongst other things. About a week after we closed escrow, Ysidro made me a sign that said "NIKLE way." (nee-clay) For some reason, he called me Nikle' and decided to make this for me. When I told him how cool I thought the sign was, he also made (smaller) ones for all 3 of my boys. LUKE lane, COLE cir, WILL way! I now hang my sign in my office and the boys have theirs in their rooms. I am reminded often of this guys personality and generosity and look forward to keeping in touch with him. Just the other day, he called from a tire shop where he was talking to a man that was thinking of buying a home... he immediately gives the guy my number. :-) Of course, I immediately added him to "the club!"
I meet a lot of people in this business.. Some are great.. some, not so great.. but I wouldn't trade my job for anything! Thanks for being a part of it..

The Wood Door? - A Cool Home Improvement!

In this challenging real estate market we are in, it can be helpful to "spruce up" your home before selling. A cool trend in many upscale neighborhoods has been adding wooden garage doors for a new look and feel. These doors can run thousands of dollars and normally require a little more maintenance than other doors. A friend of ours owns a company that can actually come to your home and paint your existing door. The painted garage doors look just like the "real thing" but for (normally) a lot less money! How cool is that?! You can even get front entry doors done. Cheryl has painted many doors here in the valley as well as some cabins up in Northern Arizona. Visit the Wood Door web site for more ideas and information. We also have their link on our web site along with tons of other information that might be helpful. As always, when you are thinking of buying or selling real estate.. "Just Call Nick"

For more Home Maintenance and Home Improvement tips, you can always visit this link on our web site..

Nick's Annual Turkey Drive!

Once again, it's time for our annual turkey drive! On Sunday Nov. 18th , I will be delivering turkeys to help the Phoenix Rescue Mission feed the homeless on Thanksgiving Day. I believe that many people have a desire to help others this time of year but find it difficult to do so because our lives are so busy.
If you would like to help, I'll be glad to come to your home or office and pick up a frozen turkey to deliver for you! OR, we can do the running around if you would like to make a financial donation. I'll be purchasing frozen turkeys Sunday morning to deliver! (I can provide receipts from the mission if needed) Another option would be for you to donate directly to the mission by clicking here.. Last year, Lori and I were able to deliver nearly 1000 pounds of turkey for needy families!
I would like to wish you and your families a wonderful holiday season!
Sincerely,

Nick

Monti's La Casa Vieja - Times are a changin'

Last night, the latest redevelopment plan for the historic Monti's La Casa Vieja Steakhouse finally got the blessing of Tempe's Historic Preservation Commission . This latest conceptual plan will now go in front of the Development Review Commission and the City Council in the coming weeks. Sounds like Sky Harbor officials (that didn't like the height of the stadium) will also throw in their 2 cents. The location of this place has been called the gateway to Mill Avenue and will serve as kind of a breaking point for the events at Tempe Town Lake and the bustling Mill Avenue District. These two areas are separated by the light rail stop at Third Street and Mill. Once the rail line opens, this area is sure to see even more interest. Several major developments are in the works within a short distance. (I'll be writing about them in the near future)
I am personally glad that the main part of the original building will be left alone as I have enjoyed many trips to Monti's with family, friends etc. It will be interesting to watch and see what the final outcome produces. I'll be sure to let ya know..

Mesa Waveyard - Surf's Up, Dude

City of Mesa voters actually turned out in favor of the $250 Million Waveyard project for the northwest part of their town. Located near the 101 and 202 freeway's, the Waveyard will be easily accessed from all parts of the Valley. The first phase of the project is said to include:

*Resort Hotel and Conference Center (Minimum 400 room, 4 star resort with 30-50,00 sq.ft of conference center)
*Indoor Water Park (80,000 sq. ft)
*Surfing Wave Pool (Outdoors and separate from the Indoor Water Park)
*White Water Course, Paddle Sports Center, and Training Facility
*Scuba Shack and Dive Experience
*Entertainment Retail Village (Minimum 200,000 sq. ft.)

Looking at their web site, they also mention:

"surfing, white water rafting, kayaking, scuba diving, snorkeling, standing wave surfing, wakeboarding, boogie boarding, climbing, canyoneering, zip lines, an action river, board sports training, a massive sand beach, concerts, world class competitions, volleyball, an indoor water park, special events, and much, much more."

Waveyard, won more than 65 percent of the votes cast. This is interesting because Mesa voters have long been the "NIMBY" type. Looks like the "sleepy little town" that is actually one of our largest cities, (of nearly 450,000 people) is starting to plan a few areas of development to change their image. The Falcon Field area is expanding and the Gateway area is showing a lot of potential as well.

This project will be fun to watch and I'll be writing more about it in the future. Please check back and take a look at our web site for more local area information.

Closing soon? Nick has many helpful tips

You probably know that there is a ton of paperwork that goes in to the buying or selling of real estate. You might be surprised at how often "little things" can be over-looked. Once you have bought or sold a home, you may want help remembering a few key things. Here is a small list of a few questions that often come up near the end of a transaction. Of course, Nick can gladly assist you with all aspects of your move.

1. When do we transfer utilities? (Our web site has a list of helpful phone numbers.)

2. What do we do with the keys? / When do we get the keys?

3. Do they/we have to clean the carpets or fix picture holes?

4. When do we get our check? (seller's)

5. Do we need certified funds? (buyer's)

6. When do we sign closing documents?

7. What does closing really mean?

I would be glad to help with all of your buying or selling questions. All you need to do is..

"Just Call Nick!"

Bob the Builder might need a new gig.

I read an interesting article recently about home repair and the amount of women tackling "small fix-it jobs and home-improvement projects."

Fannie Mae, (the largest guarantor of mortgages) predicts that, by 2010, there will be 32 million female homeowners.

Another interesting quote from the article mentions that 3 out of 5 women would prefer advice from Bob Villa, than from Dr. Phil! :-)

I would like to go on record as saying I am not sexist! :-) The following list of 12 items is mentioned as "common tools to aid women in fix-it projects." In my opinion, they are just handy things to have around any home!

1. Hammer - 16-ounce claw hammer

2. Screwdrivers - 1/4 & 1/2 inch flat head and No. 1 and No. 2 Phillips heads.

3. Pliers - Vice grips, needle nose, slip joint and standard pliers.

4. Handsaw - (power tools are more fun)

5. Tape measure -

6. Volt meter - (warning.. electricity can bite!)

7. Pipe wrench - (can also be used as protection from bad guys)

8. Cordless Drill - (my wife is dangerous with these)

9. Circular saw - (warning.. this can cut you!)

10. Jigsaw - (see above warning)

11. Dremel tool - (versatile and kind of fun to use.)

12. Stud finder - I'll refrain from my comments on this one. :-)

Everyone should keep their home in good repair. Routine maintenance items can turn in to large and costly projects. Stay tuned for more maintenance and home repair articles in the future. As always, feel free to contact Nick for any help/advice.

MLS info - Correct information is helpful..

I am constantly surprised at some of the things that are in, or left out of, an mls sheet. In one of the neighborhoods I watch closely, there is a home that, in my opinion, was listed approximately $100k over "market value." This was 5 months ago. Nice home, good area, upgraded tastefully etc but I think the agent either let the seller's dictate the price, or did not know the area. After a couple of months on the market, in the "realtor remarks," the listing agent mentions 2 "comps" to try and justify their price. One "comp" she lists a sales price from well over a year and ago. Since that time, the home has been re-listed at $200k LESS than the price she mentions!! Her other "comp" mentions that a home is "under contract" at over 100k more than her list price and says it "does not come up under the same subdivision." The problem is.. The home doesn't come up in the subdivision because it is NOT part of the subdivision! Different product in a DIFFERENT subdivision and justifiably in a higher price range than her listing. Do agents really think people don't know or won't check on these things? Is this agent really representing her clients best interest?

In our market, we don't need more over priced inventory... Sorry, just wanted to vent a bit. :-)

One of the biggest things I take pride in is the fact that I am honest with buyers and sellers. If you have any real estate related questions, please feel free to contact Nick Bastian at any time!
Or, click this link if you would like to search the mls.

Bastian Halloween Bash

Our annual Halloween party was one of the best yet thanks to our family, friends and "club members" that joined us. Heck, we even had family and friends come from as far away as Chicago and Colorado this year! The costumes were amazing and the hay rides and haunted house were again a huge hit with the kids. My dad loves riding his tractor any chance he gets. :-) If you weren't able to make it this year, don't worry, I'll send you a reminder again next year!

My boys had a blast. Luke, our three year old, was a fire fighter. He LOVES fire fighter's! We have a couple of dear friends that are fire fighters and he can't wait to go to the station for a tour. Cole and Will, our twin two year old's, got to be a lion and a scarecrow. Probably the cutest things you could ever imagine! :-)

Finding good help..

In the process of buying and selling homes, many people are normally involved. Your Realtor, lender, appraiser, escrow officer, insurance agent, home inspector etc. should all be able to work together to make the process as smooth as possible. Many others can be included such as contractors, repairmen, roofer's etc.
I have mentioned on my web site that I have the opportunity to meet many people during the year. Some are great to work with, some, well.. not so much. We have a link on our web site titled, "Service Providers" that lists some people that I have had a good experience working with. We try keep the list up to date and are always looking for good companies to add. Unfortunately, there are some people that are not always as reliable or as honest as one would hope. We are glad to help point you in the direction of people we have worked with in the past but also encourage you to check them out on your own. For many, the home buying and selling process can be pretty stressful. We are always glad to help make your move as smooth as possible. Remember to "Just Call Nick!"

Many Tempe Residents have a lot to GAIN

This coming Saturday, October 20, 2007, neighborhoods throughout the City of Tempe are being asked to join forces for G.A.I.N. - Getting Arizona Involved in Neighborhoods. G.A.I.N. is designed to heighten crime and drug prevention awareness, generate support and participation in local anti-crime efforts, strengthen community relations, and send a message to criminals letting them know neighborhoods are organized and fighting back.

Lori and I are looking forward to taking the boys to Stroud Park

where our neighborhood is participating by throwing a "Potluck."

Mesa Gateway - New Name - New Games

Soon, Williams Gateway will be no more. The changing of the name is just the beginning for the area. A few months ago, I mentioned that the Gateway Area has some interesting commercial and residential projects planned. In today's paper, there is more news of the plan to create a major international cargo hub. The project is called Arizona Direct and there looks to be great potential to bring more business and revenue to the area. Part of the appeal has to do with a duty-free trade Zone that "will carry the Foreign Trade Zone (FTZ) designation (one of only seven in Arizona) which provides significant tax incentives and results in competitive advantages for companies choosing to locate and operate on site."

Near by, DMB's plans for the old proving grounds site should have a large impact on the area as well. DMB is a developer of some really nice projects in AZ, California, Hawaii etc. I doubt they would have purchased such a large parcel of land in this area if they didn't feel the potential for growth wasn't there.
It will be fun to watch this area. The proximity to ASU Polytechnic Campus, freeway access, rail lines etc. make for an interesting part of town.
The area is growing, we will be sure to keep an eye on it. If you want any information about current housing in the area.. "Just Call Nick!"

Tempe Arts and Urban..

Our friend, Nate Hobley, joined Lori and I at the new Tempe Center for the Arts (TCA)last night for a preview of a new urban development at Mill and Ash called Mosaic. We were very impressed with the new arts center and with the plans for Mosaic which will be built above a Whole Foods Market. Along with previews of the TCA and tons of information about the new project, the evening was filled with good food, drinks, entertainment and a very enthusiastic message from Hugh Hallman .(Tempe's Mayor)

Several other politicians were present and I had the good fortune to run in to my old friend (former High School coach) Ben Arredondo who is a long time member of the Tempe City Council.

There was a lot of excitement, even for a "dreary" real estate market, concerning the future potential for creating an "urban" feel and life style in down town Tempe. This will be an interesting market to watch and to be a part of. We have started watching these properties very closely. If you should ever want or need any information.. "Just Call Nick!"

More Market Casualties

Apparently, Homes Illustrated Magazine is one of the latest casualties of the current market. In an email I received yesterday, they said; "This market has been hard on all of us, both you our customers and our industry as a whole."
I'm not 100% convinced that the market had as much to do with their decline as did "marketing" practices in our business. While they have a web site, the focus on an expensive print format was something that is not nearly effective today as it was many years ago. I had ad space in their publication for many years but decided, 5-6 years ago that web based advertising had a much better result for our clients. Just about any serious buyer begins their search on the web today. Our listings pages on sites like realtor.com and azcentral.com are able to reach a far better audience. Like magazines, many agents and mortgage companies are "folding" like crazy. In just about any industry, change is good. I promise to be around for a long time. :-) For help or advise.. "Just Call Nick!"

Free & Clear or Week to Week?

The real estate and mortgage businesses have been on a heck of a ride the past few years. Hopefully, many lessons have been learned during this time. I have heard and read a lot this past week about the coming changes in the FHA guidelines. My friend, Ricky Khamis, tells me that we can expect to see a lot more of the FHA loans in the very near future. (more "favorable" guidelines than many current loans)
While it is sad to hear that so many people are facing foreclosure, I tend to wonder how much of the "mess" was "self inflicted." Most of the loans were bought by huge companies with huge profits. A large percentage were given to "speculators" and people "keeping up with mr. and mrs. Jones."
On the other end of the spectrum, you have people like Robert Kiyosaki writing that "bad" markets can be beneficial in the current environment for prudent investors.
Some people strive to have their home "Free and Clear," while others choose to spend their money on other things while living "week to week." A good choice might just be somewhere in the middle. Getting caught up in market trends can be dangerous. I believe that real estate is a great, long term investment. Using your homes equity to pay bills, buy the fancy car that you can't really afford etc. might prove to be what really hurt many of the current people that face foreclosure.. Someone has to pay for all of the fun!
I hope that the vast majority of people that need help can get it through a new mortgage with better terms. I also believe that the market will correct itself and get back to "normal" before we know it. (not tomorrow)
People will always need a place to live and many studies have shown that home ownership can be more beneficial for many people. It will be interesting to see how this one plays out..

The Feedback Factor

As long as I can remember, feedback has been an important part of the home selling process. EVERY seller wants to know what people thought of their home after a showing occurs. While you would think that providing a listing agent would be a professional courtesy extended by showing agents, it is often difficult to get helpful information from them.
The most common way to obtain feedback over the years has been to try and call the potential buyer's agent to get their input. Often, I would hear things like:
"We looked at several properties, I don't remember that one."
"I'm busy at the moment, I'll have to call you back."
You kind of see a pattern here.
For the past several years, I have used a system that I feel has been more effective. I find it much easier to get a response to an email than a phone call. A copy of the mls sheet is emailed to every agent that shows one of my listings thanking them for showing our property and asking their opinion on pricing, condition and location. This helps with the; "I don't recall" response as my description of the home and several photos are included with the mls sheet. The; "I'm busy" is some what eliminated because they are normally able to push "reply" and take 2 seconds to let me know their thoughts.
Seller's appreciate the information and I am able to keep better track of our listings through the constant follow up.
Real estate is a smaller world than one might think. A high percentage of homes is sold by a small percentage of agents. This is more true as the market softens and many of the people that thought they would get in on the "easy ride," are leaving the business. Most of the better agents know that feedback is appreciated and will respond when they can.
Good communication skills are necessary in real estate. Phone calls, emails and follow up help immensely. As a buyer or a seller, all that YOU have to do is... "Just Call Nick!"

Always changing..

Every day, the paper and the national media have stories about the falling mortgage and real estate industry. With large and small banks going out of business and homes selling in months instead of days, the media loves it. Just like when the opposite was true, the loved it. Why, because it sells stories. The President's plan will try to help people re-finance their sub prime loans but it is too early to tell how much is going to be done under the current guidelines. People must have good credit, have made their payments on time and have equity in their home. Most of the people facing foreclosure seem to be the ones that bought at the top of the market, over paid on a zero down loan and had a "teaser" rate. With the correction in the market, the payment goes up, the value has decreased and they struggle to make the new payment. Talk about a double whammy..
As an interesting side note.. I saw an article in National Realty News that "The Donald" himself has recent knowledge of the mortgage crisis. Looks like he "licensed" his name to a mortgage company a couple of years ago but their projections of growth fell a bit short..
Our markets change constantly. Your area might be doing well while others struggle. For buyers, you NEED to make sure that you have a good mortgage, area and plan in place. Homes sell in every type of market.. For helpful advise... "Just Call Nick!"

More Foreclosures - More Problems?

As more and more foreclosure listings come on to the market, I see more and more lenders/Realtors write in the listing that the SPDS (Seller's Property Disclosure Statement) and CLUE Report or Claims History will not be provided.
In my opinion, there is no reason for a bank, other than wanting to "play dumb," to say they "can't" provide this information. While it may be obvious that they have never occupied the property, they still have some type (probably very limited) of knowledge about the property.
While I strongly believe that a buyer should always do their own "due diligence," I believe waiving their rights of disclosure in a contract should not be their only option.
Interestingly enough, while the market was heading straight up in the past, many buyers were waiving some of their rights from our contracts as well. Things like inspections, appraisals, warranties etc. were often waived to make an offer more appealing. Think some of these people would like a "do over?"
Fact is, in "good" markets and in "bad," people deserve to be treated fairly and represented well. As always, help and guidance is just a call or a click away...
"Just Call Nick" I am glad to help!

Times are Changing

There has been a lot of interesting articles in the news lately about the troubles in the mortgage industry. The "crisis" of predatory lenders, raising foreclosure rates, mortgage companies going out of business etc. is certainly news worthy.
Lender's are changing guidelines as they adjust to market conditions. Many of the programs offered in the past couple of years are disappearing; making it more challenging for some to qualify for a mortgage.
I still see many "zero down" offers from buyers even though articles like this one say they are vanishing. (I wrote about zero down loans in a post from Jan 19th)
My friend, Mark Mattingly, at Allied Home Mortgage recently pointed out some interesting facts about a product that may start to make a "comeback." That product is an "FHA" loan. You see, I haven't seen an "FHA" insured loan come in for quite some time. Most borrower's seem to have been finding better deals and more flexibility from conventional mortgage products. Some of the previous FHA guidelines have been changed to compete with conventional products.
Mark pointed out some interesting facts about FHA loans. For instance:
1. FHA is not a credit score driven product.
2. Mortgage insurance is credit score driven, except when doing a FHA loan. Whether a borrowers credit score is 450 or 850, they pay the same amount for mortgage insurance with a FHA loan, but not with a conventional loan.
3. A seller can not only pay closing costs, but can also gift the down payment to the buyer so the buyer can get into that house for ZERO CASH.
4. In Maricopa county, the loan limit for FHA, $263,150, is higher than the average home purchase price, meaning more than 50% of buyers can do FHA.
5. FHA is not limited to first time buyers.
6. FHA has no income limits like some competing mortgage products.
Time will tell if I see more people deciding to go back to FHA loans. I will continue to stay up on market trends so that I can guide people in the right direction when buying or selling a home. As always, if you need any help or guidance when it comes to buying or selling real estate.. "Just Call Nick!"

Find em on the web...

Let’s face it, the market always dictates the price of a property. BUT, in a market where a lot of competition exists, it is good to have real plans in place to aggressively promote your home over the competition. In my opinion, a “for sale by owner” home in this market is like a row boat in the middle of the ocean. We have been implementing new ways to market properties the past couple of years that help drive a ton of traffic to our web sites. This benefits all of our clients. Adding photos and descriptions to sites help as well. Examples are realtor.com, azcentral.com etc..
Property specific web sites can be fun, informative and useful. See an example at www.1605Brown.com. Even sites like zillow and craigslist can generate interest and mention specific features of a property while linking to our main site for even more information. Direct mail, if targeted correctly, can be useful as well. The process of submitting all of these sites can be costly (for the public) and time consuming but with most people beginning their search for a home on the web, we feel it is the best way for us to help sell properties in today’s market.
If you are thinking of making a move, please feel free to call and discuss your area, options etc. Several parts of town are doing fine, others will struggle for a while. “Just Call Nick!” I’m glad to help..

PLC - 3 very important words..

Everyone knows the old saying that the three most important words in real estate are: "Location, Location, Location!" I certainly agree that location remains, and will always be a very important factor in determining the value of a property. Over the past few years, when the market was in over drive, it appears many people forgot these three very key words and just wanted to get their hands on anything they could mortgage.
Our current market is now requiring Pricing, Location and Condition to be three words to be aware of. For example, with the current number (high) of available properties and the current number (not as high) of buyers in the market, a home needs to be priced (very) well, in a great location and in excellent condition in order to obtain a "normal" sale. Unfortunately, if even one of the three (price, location, condition) is not right, a home has a much harder time in our current market. Yep, the Summer selling season is upon us but buyers are picky and demanding and have every right to be. The shoe was on the other foot for a while.. For tips or advise on the current market, feel free to "Just Call Nick!" I'd be glad to help. :-)

Good or Bad?

With all of the doom and gloom real estate news that is popular with the media, I find it very interesting that billions of dollars are being invested in Arizona. A few of the projects and areas that I find interesting are the commercial and residential developments in the East Valley's Gateway area to the successful projects near Desert Ridge and the City North development that recently announced (4/17/07) $379 million dollars for phase one financing. Down town Tempe has plans for several new hotels and more "urban" housing projects that appear to be helped by the excitement of Light Rail. Other large projects are being developed in Phoenix and the West Valley as well. Our population is expanding, jobs are available and commercial development appears very strong. While the housing market still has a ton of inventory, it is allowing people to find more options than they have had the past couple of years. One page of the paper tells us the market is dead while the next says it is back to life. Fact is, some neighborhoods are doing great while others are struggling. If you are thinking of making a move, it is best to look at the values in your neighborhood and the neighborhood where you plan to live. That way, you get a better idea of what you are up against. If you need any help.. "Just Call Nick!"

Buyer Advice

If you are in the market to purchase a home, it is a very good idea to have an experienced buyer's agent represent you. Many people do not realize that there is normally not a cost for a buyer's agent to represent their interest when they purchase a new or re-sale home.
A few other benefits to having your own agent are:

1.Help in finding the "perfect" home.
2.Represent YOUR best interest in ALL negotiations.
3.Help with all paperwork and disclosures.
4.Help determine a fair price for your new home.
5.Help arrange financing.
6.Provide you with pressure free advice and guidance.
7.Give you access to free, on-line resources.

There are many other benefits to working with myself and my associates. Please feel free to look around my web site. Once you decide that we are a good fit, "Just Call Nick" and I'll be glad to help!

Just Drivin' By?

New home subdivisions, open house signs, web site ads from the mls with cool pictures and driving directions ever catch your eye? Of course they do.. It happens all the time to most of us. Can that ever be a problem? Ever notice the little signs builders use at the entry to the sales office that says: “If you are working with a Realtor, they MUST accompany you on your first visit.”? What the heck does that mean and how does it effect you/us? Here’s the deal.. Agents at new homes and at an “Open House” represent the SELLER. If you are looking at the house, you are a potential BUYER. Do you want to get all of your information from someone that does not work just for YOU? Any time you see something you like, or want information about ANY property, please remember one thing.. “Just Call Nick!” Representing YOUR interest is what I do! It is the MOST important job that I can do as your agent. I do this every day and can help you with the sale or purchase of ANY property. Yep, it is “fun” to drive around and look at properties but please remember that real estate is a serious business and can be a major investment. I am here to help and to work hard to make sure all goes well!

Nothing to Lose?

No down payment? "No problem" say many mortgage companies. In fact, a recent survey showed that over 35% of loans are "No Down" loans. The VA use to be one of the few ways people could buy a home for no down payment. It also wasn't long ago when most people assumed that a twenty percent down payment was necessary to purchase a home. I can recall many times when people felt they would "never" have enough of a down payment to buy a home. Today's world of financing is much different than yesterdays. A recent study by the National Association of Realtors mentioned that the average buyer made a TWO percent down payment. Zero down loans are very common in today's market for many reasons. First time buyers might have a good credit and a good new job but not a ton of cash in the bank. Most agree that it is better to purchase a home instead of "throwing away" money on rent every month. Others choose to finance as much home as they can and use their hard earned money for other things. Things such as investments, college, home improvements, investment properties etc. etc. Of course, it is hard to pin point a right or wrong answer when deciding on what kind of loan to use for your next purchase. As always, it is best to rely on the help or guidance of people in the real estate or mortgage business. If you have any questions, I'll be happy to discuss some of your options and to point you in the right direction.. Remember to "Just Call Nick!"

Trimming Some Fat in the New Year

As I sit here and think back on the past few months of holiday and Christmas parties, I notice that I have probably added a bit more to my "bottom line" than is necessary. Too many family, work and friends had dinners, parties, get togethers etc..
It's kind of funny to think of the analogy between the last couple of months and the last year and a half in the real estate industry.
I met MANY people recently that were looking to take advantage of the "easy money" in the real estate game. As we begin what I think will be a very interesting year for the Arizona real estate market, I look around and notice people leaving the real estate and lending business by the thousands. There is no doubt that many of my past clients had jumped in to the real estate business for the quick and easy money. I also have no doubt that many new agents will not be sticking around for the long haul. To be honest, I would hate to just be getting started in the business right now. The amount of competition and the challenges of the current market need to be taken very seriously. Heck, look at some of the huge mistakes made by some of the builders during the past run up in "values."
Our market will find level ground. It is my goal for the year to continue to keep an eye on trends, continue to take many classes and attend seminars and to take advantage of many of the new technologies that are available in my business. I guess you could say that I intend to be a "lean, mean real estate machine" so that people have confidence in knowing that when they are buying or selling real estate, all they have to do is... "Just Call Nick!" :-)
Happy New Year to you...