Around here, we are always up for fun things to do! Recently, Lori and I took the boys on a "train ride" to Tempe to go hike Hayden Butte. ( "A Mountain) We all had a great time so we decided to do it again. This time, we thought we would invite some friends!
Please join us Saturday, March 21st as we get together with our friends from Take A Hike Arizona to meet at “A” Mountain in Tempe, for a fun morning hike, stroll or walk up Hayden Butte. The easiest way to get there is via light rail. Exit at the 3rd and Mill station and meet us at the coffee shop on the south west corner. (Mills End Cafe at 310 S Mill Ave) We will leave Mills End at 8:15 for our fun morning “hike.” Hey, what else are you gonna do on a nice Saturday morning that would be more cool than hanging out with some friends and getting some fresh air?
Like they say at Take A Hike Arizona, “The Butte may not qualify as an all out hike, but it does provide a nice quick jaunt uphill (just over 1/2 mile) and provides nice views of downtown Tempe, Tempe Town Lake and the surrounding area.”
Much of the trail is paved and the entire walk probably doesn't take an hour. It is a perfect Saturday morning trip! Click to see some pics from our recent trip...
The Butte is also a designated historical landmark. Just off the trailhead on the Leonard Monti Trail, you can find a number of petroglyphs carved into the rock by the Hohokam people. I recently spoke with Michael Monti (Leonard’s son) and I believe he will be joining us in the morning. It will be fun to learn some of the history of the Butte from him.
The founders of Take a Hike Arizona Tracey Epel and June Kleier will be on hand to join us as well. They have a very fun attitude about outdoor activities and I have enjoyed getting to know them recently.
The plan is to meet on Saturday morning, March 21st at 8:00am at Mills End Cafe which is located directly south of the light rail stop at 3rd Street and Mill Avenue. Mills End will be easy to find, just look for the Rail Life banner in the window Saturday morning. We plan to leave (ie: cross the street,) by 8:15am.
If you have never been on the light rail yet, you might want to see this information about the Park and Ride locations and check out how to purchase a light rail pass for your trip! Any questions? Just Call Nick!
Tuesday, March 17, 2009
Monday, March 16, 2009
Distressed Properties - The good bad and ugly
The Arizona real estate market, like many others, continues to change at a rapid pace. While the trend is currently looked at by many as "distressing," there are those who look at this market as an opportunity to purchase real estate in an environment of low interest rates and at price levels not seen for quite some time.
One of my long time "partners" in the real estate business is Fidelity National Title. For those of you that have worked with me for a long time, you might be familiar with them. Recently, I got some very interesting statistics from my friend, Jennifer Weller, an account rep for Fidelity. We discussed some of the current issues banks are dealing with when handling distressed properties.
1. 40% of the subprime loans written in '06 & '07 had no income verification.
2. Chase has a new program that if you lose your job-they will reduce your payment to $500 for months to help homeowners not lose their home.
3. It costs lenders on avg 75-125k per bank owned property.
4. fannie mae loan-primary residence...foreclosure=ineligible for 5 yrs for a FMae mortgage, short sale=2 yrs
5. investor ineligible for a Fannie Mae loan for 7 yrs in Foreclosure, short sale=2 yrs
6. foreclosure lowers credit 250-300 pts for avg of 3 yrs...and stays on credit for 10+ yrs
These 6 items are from Jen's "Twitter" feed while attending a seminar. I hope to go over the details with her in the near future and will gladly update you with any questions you might have. We will be reviewing the notes and updating / adding to the information in the near future.
As in every market, it is best to understand and make good educated decisions before buying or selling. There is always a seller that wants to sell and a buyer that wants to buy.
Let's discuss your situation before you decide to make a move. As always, I'll give you my honest opinion of your current situation. If it makes sense for you to make a move, I am happy to assist. If it doesn't, I will be glad to tell you so.
If you just want to "get a feel" for prices of homes in an area, (including foreclosure lists) you may visit my FREE map-based home search page to begin the process. As always, remember to "Just Call Nick" with any questions or comments!
One of my long time "partners" in the real estate business is Fidelity National Title. For those of you that have worked with me for a long time, you might be familiar with them. Recently, I got some very interesting statistics from my friend, Jennifer Weller, an account rep for Fidelity. We discussed some of the current issues banks are dealing with when handling distressed properties.
1. 40% of the subprime loans written in '06 & '07 had no income verification.
2. Chase has a new program that if you lose your job-they will reduce your payment to $500 for months to help homeowners not lose their home.
3. It costs lenders on avg 75-125k per bank owned property.
4. fannie mae loan-primary residence...foreclosure=ineligible for 5 yrs for a FMae mortgage, short sale=2 yrs
5. investor ineligible for a Fannie Mae loan for 7 yrs in Foreclosure, short sale=2 yrs
6. foreclosure lowers credit 250-300 pts for avg of 3 yrs...and stays on credit for 10+ yrs
These 6 items are from Jen's "Twitter" feed while attending a seminar. I hope to go over the details with her in the near future and will gladly update you with any questions you might have. We will be reviewing the notes and updating / adding to the information in the near future.
As in every market, it is best to understand and make good educated decisions before buying or selling. There is always a seller that wants to sell and a buyer that wants to buy.
Let's discuss your situation before you decide to make a move. As always, I'll give you my honest opinion of your current situation. If it makes sense for you to make a move, I am happy to assist. If it doesn't, I will be glad to tell you so.
If you just want to "get a feel" for prices of homes in an area, (including foreclosure lists) you may visit my FREE map-based home search page to begin the process. As always, remember to "Just Call Nick" with any questions or comments!
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