http://www.ralphandtricia.com Arizona Realtors Helping Home Buyers and Sellers with their Real Estate Needs en-us http://ralphtricia.az-re.com/filterarmlsresi_162251.cfm See our active listings. http://www.ralphandtricia.com/2009_cost_vs_value.htm Uncertainty and restraint are the order of the day in this economy, and that sense of caution is reflected in home owners’ return on their investment in remodeling projects, according to REALTORS® in 80 metropolitan markets surveyed by Remodeling magazine for this year’s Cost vs. Value Report. http://www.ralphandtricia.com/edu_re_invest.htm One of the things that keep many people from getting started in Arizona real estate investing is the lack of education available on the topic.  There are many people who have an interest but cannot find sufficient education in real estate investing.  For some having this education is a must.  People have been trained to think that formal education is needed for something you plan to make into a career.  However, formal education in real estate investing is not needed for one to be successful.  http://www.ralphandtricia.com/landlord.htm Right now there a lot of great opportunities in the Arizona Real Estate market. Investors are coming back to the market in the Phoenix metro area and finding bargains in not only Phoenix Real Estate but in Gilbert, Chandler, Mesa, Tempe, Chandler, Queen Creek and Maricopa. http://www.ralphandtricia.com/best_home_price.htm Don't get trapped by this big mistake home buyers make when deciding it is time for buying a house. The most common error is not spending enough time choosing a real estate agent. http://www.ralphandtricia.com/become_investor.htm Are you looking for a new way to make money?  Are you tired of your current career?  If so, you may want to look into becoming a real estate investor.  Thousands of people have become real estate investors, and have in turn made tons of money.  If you want to be the next person to take advantage of this industry you should get started today.  Becoming a real estate investor is not difficult to do.  This does not mean that it is easy to be a success though. http://www.ralphandtricia.com/owning_your_home.htm Whether you own a mansion or a mobile home, many home-related expenses are tax deductible. Mortgage interest and property tax are well-known deductions. To take advantage of them, you have to file the 1040 long form and Schedule A. For some homeowners, however, it might be better to file the EZ form because standard deductions would be greater than the allowable expenses. http://www.ralphandtricia.com/basics_of_foreclosure.htm You will likely come across dozens of properties in foreclosure with little or no equity, that is, the seller owes at close to or more than the property is worth. In these situations, lenders are sometimes willing to accept less than the full amount due, commonly referred to a “short pay” or “short sale.”  Negotiating a short sale with the lender is a difficult process, generally because it is a daunting task finding a bank officer who has the authority to accept a discount. You will have to call around to locate the lender’s “Loss Mitigation Department”. More than likely, each lender you deal with will have a separate name for this department, so be patient when calling. Much like getting your phone bill corrected, you can expect the process to involve a lot of waiting on hold and being bounced around an intricate maze of automated voice mail systems. Once you get in touch with the right person, then the negotiating begins. http://www.ralphandtricia.com/calculating_retirement.htm Whether you have a 401k or other retirement plan, income from a rental property can make your later years more enjoyable.   After finding one in your price range, the next step is calculating its cash flow. That means determining what your annual expenses will be and deducting them from the rent. The balance is ysour cash flow. http://www.ralphandtricia.com/key_indicators.htm There are some positive signs coming from metropolitan Phoenix housing market. Foreclosures dropped slightly in September while home prices inched up again. Last month, lenders foreclosed on 3,759 Valley homes, an almost 5 percent drop from August, according to the Information Market. It's the second month in a row foreclosures, or trustee sales, have fallen. Pre-foreclosures also dropped in September, a good sign there will be another decline in foreclosures this month. There were 7,857 pre-foreclosures, or notice of trustee sales, filed by lenders last month. That's an 11 percent drop. http://www.ralphandtricia.com/HUD_Properties.htm With HUD properties, title seasoning, FHA loans, and short sales, investors have had some confusion regarding the rules.  This article will clarify all of these issues for you. HUD is the United States Department of Housing and Urban Development, a government agency whose goal is to increase homeownership, support community development .  The Federal Housing Administration (FHA), which is part of HUD, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States.  http://www.ralphandtricia.com/fha.htm    First-time buyers and those who have lower to middle income have an old way, now turned new, to find a mortgage. In the Phoenix Arizona real estate market FHA is becoming the mortgage of choice. Many are turning to federally-backed Federal Housing Administration (FHA) loans. Mortgage applications increased from 41,530 in December 2006 to 73,444 in June of this year. http://www.ralphandtricia.com/pathtoriches.htm    There are hundreds of properties in the Phoenix Metro approaching foreclosure and homebuyers and investors are seeking the best deal towards pursuing short sales.  Our current real estate market has no doubt seen better days and investors know short sales are a sure path to big profits.  While we get this ideal picture in our heads of locating the perfect house, purchasing and either flipping for profit can be far from the truth.  Before approaching the idea of investing in short sales and foreclosures you should take caution and fully understand how the process works.  http://www.ralphandtricia.com/how_eco.htm Becoming eco friendly is the newest favorite pastime but while everyone has their own reasons for “going green” the underlying theme is green could be your wallet’s ally. Everything from conserving water and energy to other essential environmentally conscious choices can put more money back in your pocket and homebuyers are considering these options when purchasing a home. How much money could you be saving? by Ralph Bredahl http://www.ralphandtricia.com/game_plan.htm Qualifying for a Mortgage Most home buyers don’t have a stash of cash waiting nearby to buy a home without a mortgage. So to figure out what price you can pay for a home, you need to find out what size loan you will qualify for. The mortgage prequalification is an introduction to the loan qualification process that involves a brief, informal meeting with a loan agent or broker to establish what size loan a lender is likely to give you. This loan amount, plus the cash you have for a down payment and closing costs, will determine what price home you can afford. You should get yourself pre-qualified before you start looking at property. This saves time and avoids the frustration of looking at homes that are way out of your price range