Pride of ownership in this squeeky clean home. Conveniently located in the premiere Maricopa Arizona planned community of Rancho El Dorado. Three bedroom, two bath greatroom plan with two car garage and sparkling pebtec pool. Nicely upgraded with newer stainless steel appliances and upgraded carpet. 18″ tile in kitchen, baths, laundry and hallway. Built-in cabinets in garage. North/south exposure. Very private backyard.  Fantastic short sale opportunity!

Priced for quick sale at $85,000

MLS#  4301747

HUD has issued a mortgagee letter to lenders and underwriters explaining that effective immediately, borrowers in default on their mortgage at the time of a short sale or pre-foreclosure sale will not be eligible for a new Federal Housing Administration (FHA) -insured mortgage for three years.

From the language of the letter, it seems HUD views a short sale by homeowners behind on their mortgage as a so-called “strategic default.” The agency says borrowers are not eligible for a new FHA mortgage if they pursued a
short sale agreement on their primary residence “simply to take advantage of declining market conditions and purchase, at a reduced price, a similar or superior property within a reasonable commuting distance.”

Lenders may make exceptions to this rule if the default was due to circumstances beyond the borrower’s control, such as the death of the primary wage earner or long term un-insured illness, and a review of the borrower’s credit report indicates satisfactory credit prior to such circumstances.

For a homeowner to be eligible for a new FHA-insured mortgage following a short sale, they must have been current on their mortgage and other installment debts at the time of the short sale of their previously owned property, and the proceeds from the short sale must serve as payment in full, HUD said.

FHA will also insure the first mortgage where the existing note holder writes off the amount of indebtedness that cannot be refinanced into the new mortgage – a short payoff – due to a decline in property value or a reduction in income, but once again, only if the borrower is current on their loan payments.

HUD is hoping to deter homeowners from intentionally defaulting to get out from under their existing mortgage obligation with the new rule, but it also means that struggling borrowers who go along with the administration’s Home Affordable Foreclosure Alternatives Program (HAFA) to keep from adding to the foreclosure numbers will not be eligible for a new government-backed loan.

12/21/2009 By: Carrie Bay

At this price, this remodeled custom home on nearly an acre, won’t last!
Call Kim, Owner/Agent at 480.580.7314 to schedule a showing!

Details:
5 Bedrooms, 3.5 Baths
3905 Square Feet
4 car garage

Extensive remodeling done in 2007!

CLICK HERE to view listing!

CLICK HERE to view photo slideshow!

This annoying change is due to the dramatic population increase in the ‘852‘  area. All East Valley cities fell into this area. The new ‘851‘ ZIP codes will cover an area encompassing nearly 5000 square miles.

Although the change is effective July 1, 2009, there is a one-year transition period, during which, both old and new ZIPs will be valid for mail delivery. It seems like a huge inconvenience, but take it from one who has gone through it, this is one of life’s minor annoyances!

CLICK HERE to view New ‘851′ ZIP code area boundary map

GENERAL BOUNDARIES of new ‘851′ ZIP code area:

North –
Pinal County boundary at the Sierra Estrella Mountains and the Gila River, east along Hunt Highway, north on Meridian Road to the Tonto National Forest.

East –
Tonto National Forest to Pinto Creek, southeast to San Carlos Lake, south to Aravaipa Wilderness Area.

South –
Aravaipa Canyon Wilderness Area and Calle Zapata west to Arizona Hwy 77, northwest to Freeman Rd, south on Marylynne Lane alignment to Pinal Air Park Road alignment, west to Tohono O’odham Indian Reservation.

West –
Tohono O’odham Indian reservation north to the Sierra Estrella Mountains and the Gila River.

Queen Creek -  $75,861: 3BR/2BA new home on golf course!

Gilbert – $135,000: Best new home deal in Gilbert! Call for details!

Gilbert – $193,900: New spec home! Call for details!

Chandler – $299,900: Beautiful 4BR home with pool on greenbelt!

Maricopa – $131,690: New 4BR spec home, over 2300sf, single level!

CLICK HERE TO SEARCH THE ENTIRE MLS

CLICK HERE TO SEARCH NEW HOMES & SPEC HOMES

Maricopa – $229,000

CLICK HERE TO VIEW SLIDESHOW

3,111 Square Feet

4 Bedrooms plus Den, 2.5 Baths, 3 Car Garage

Ad# SAV3111

Maricopa – $169,900

CLICK HERE TO VIEW SLIDESHOW

2,310 Square Feet

4 Bedrooms, 2 Baths, 2 Car Garage

Ad# SON2310

Call us at 480-892-1171 for an appointment to view these model homes!

$315,000

4 Bedrooms, 2.5 Baths

2288 Square Feet

3 Car Garage

Looking for a great deal on a beautiful home in a beautiful community? Take a look at this great property in Ashley Park that we just listed! Ashley Park is located south of Ray, between McQueen & Cooper. This neighborhood was built by Fulton Homes and features beautiful entrances with waterfalls, greenbelts, parks, playgrounds as well as an award-winning elementary school, Sanborn Elementary right in the neighborhood!

This has many desirable features including a functional floorplan, nice upgrades, a large grassy backyard, a fenced pebbletec pool and a 3 car garage. In addition, this home sits on a premium north/south lot that backs to a beautiful greenbelt, which gives a very open feeling in the backyard. The interior is freshly painted in my favorite color, Baked Potato by Dunn Edwards. This home is priced to sell! Contact us for an appointment to view today!

CLICK HERE TO VIEW SLIDESHOW

2216 W. Mila Way

Queen Creek

$165,000

Rhonda in our office just listed a property located in San Tan Heights! This home is priced to sell! This popular Elite floorplan features 4 bedrooms plus a den, 2.5 baths and over 2,700 square feet. This home offers plenty of space with formal living and dining rooms, plus spacious kitchen open to family room. Beautiful eat-in kitchen features spacious island, cherry cabinets & stainless steel appliances! Spacious backyard with room for a pool! Beautiful mountain views! Great location with playground right down the street! 3 car garage! Contact our office to view this property today!

CLICK HERE TO VIEW SLIDESHOW

Maricopa – $196,191

3 Bedrooms + Den, 2528 Square Feet, 3 Car Garage

CLICK HERE to view photo slideshow

This popular single level floorplan features 3 bedrooms plus den, formal living & dining plus spacious family room open to kitchen! Beautifully upgraded and decorated with custom draperies, furniture, artwork & accessories! This model sits on a premium lot with a view fence that overlooks a greenbelt! Fully landscaped front & back! 3 car garage! Call us at 480-892-1171 or Contact Us here to view this property today!       CHI2528

Maricopa – $257,130

4 Bedrooms + Den + Loft, 3481 Square Feet, 3 Car Garage

CLICK HERE to view photo slideshow

This spacious, two-story floorplan features formal dining and living rooms, a spacious kitchen and family room with dramatic soaring ceilings! Den downstairs, four bedrooms upstairs, plus loft with walk-out balcony! This model is highly upgraded with granite countertops, cherrywood cabinets with crown molding, black appliances, custom draperies, custom paint, furniture, accessories & artwork! This home is on a premium lot that overlooks greenbelt! Professionally landscaped front & back! 3 car garage! Call us at 480-892-1171 or Contact Us here to view this property today!     LON3481

We are excited to announce a new contributor to our blog!

Jonathan is going to keep us updated on important things happening in the lending industry.

We have worked with Jonathan for many years and his customer service and performance is exceptional.

Jonathan can be reached at 602.321.0459 or JBaker@HomeNational.com