A visit through the extraordinary Verrado Community in Buckeye Arizona will have you thinking about that place of yesteryear, the small town away from the city. This is one of the most sought after areas in Buckeye Real Estate. A wonderful Old Town feel to this exclusive neighborhood with all the amenities you could ask for. Verrado has a Market place on main street where you can get your grocery’s, pharmacy items, and do all of your banking. The Community pool and health center is amazing and centrally located to Main Street, The Raven Championship Golf Course is one of the most amazing golf courses I have seen, it will take your breath away. All of the amenities and Main Street of  Verrado will definitely impress you and then you can take a look at some of the homes. Verrado offers some of the most diversified home styles and floor plans that the West Valley has to offer. You can find Victorian styles, Santefe, Town home, just to name a few. There is something for everyone in Verrado and if you haven’t been there you really owe it to yourself to take a look. If you would like more information on purchasing a home in the Verrado community, or anywhere in the West Valley for that matter, please contact mike@kroneteam.com.

The Estrella Mountain Ranch community  in Goodyear Arizona was first inhabited by the Hohokam Native Indian Tribe.   Nestled in the foothills of the EstrellaMountainswith over 65 acres of natural desert habitat, over 3,500 families have made this their home.   Estrella is known as being an active recreation community with a community center that offers something for everyone.   The Park features, beaches, ramadas and the BBQ’s- make it a perfect place for a family get together.  There are also miles of walking and jogging trails.  Enjoy a game of basketball, volleyball or tennis and with the lighted courts you could play anytime.

The Estrella Mountain Ranch community  in Goodyear Arizona offers an 18 hole Nicklaus Design Golf course, just imagine your shots being played over natural desert washes as theSonoranDesertedges the fairways.   Perhaps biking is your preference, with 8 miles of riding trails and 2 loops; this track is for any skill level.   With over 72 acres of lakes perhaps you would enjoy an afternoon on a sailboat, fishing, canoes, kayaks and paddleboats.   Enjoy the state of the art fitness center, with pools, lap pool and waterslides for the kids. Estrella is conveniently located just a few minute drive to the Phoenix International Raceway and spring training games.  What a place to enjoy those beautiful Desert sunsets.

•The Mortgage Tax Forgiveness Act is due to expire on 12-31-12. This act may protect a homeowner who short sells or foreclosures on their homes from a huge tax liability.
•It could be possible to purchase another home immediately after closing on a short sale
•You don’t necessarily have to be behind on your mortgage payments to be approved for a short sale.
•You may qualify for a government program which will pay you $3,000 at the closing of a short sale
•Regardless if your home forecloses or you do a short sale, your HOA dues must be paid in full by you. This will be a personal judgment will be filed against you personally.
•In most cases, a Loan Modification is only a temporary “fix”, and over 70% of people who have done a Loan Modification end up in foreclosure or short sale.

Please contact Cheryl Krone at (623)298-4340 or email cheryl@kroneteam.com for a free short sale consultation. We have helped hundreds of families avoid foreclosure. Get all of the information you need to make the best decision for you and your family.

We have been talking with a lot of clients lately and they have all been having alot of questions.  What if my loan modification does not work out?  What are the tax consequences?  What are the legal issues that could arise?  Can I do a short sale if there is more than one loan on my home?

Please join us this Saturday at our seminar to get all these  questions answered and many more.  We will have a certified public account and an attorney on hand to get you the latest news.  The Krone Team has a  full time negotiator on staff to work on your behalf and take the sting out of you having to go through the painfull process of dealing with your bank.

Please join us this Saturday and get all of your questions answered at our short sale seminar.

Seating is limited, Please call Cheryl Krone at (602) 708-2073 to RSVP for your free seminar.

• Locally grown organic fruits and vegetables.
• Locally raised beef, pork and other meats as well as fresh Alaskan Salmon.
• Fresh baked goods, jams and other treats.
• Tasty dips such as humus, salsa and more.
• Enjoy freshly prepared tamales, hickory smoked barbecue, fajitas and kettle corn
while you shop.
• Fun train rides for the kids

It’s a lot more than just food, you can enjoy bath and beauty products, jewelry, arts and crafts and much more.  If you would like more information on Estrella Mountain Ranch please contact Mike Ewen at mike@kroneteam.com.

We’ll see you there!

By Julie Schmit, USA TODAY

Updated 2/28/2012 12:31 PM

The Phoenix housing market is showing signs of improvement, even generating bidding wars among buyers for lower-priced homes.

The area was one of the hardest hit by the foreclosure crisis. Prices had fallen 57% from their peak.

Now, “We list a property and, within two or three days, we have multiple offers,” says Keith Krone of Keller Williams Realty in a Phoenix suburb.

While frustrating for buyers attempting to get homes at rock-bottom prices, it’s a healthy sign of healing in a market scorched by the housing bust five years ago, say local Realtors and real estate experts.

The area’s January home sales were up 8.1% year-over-year. Multiple offers are common on lower-end homes, investor-buyers say. And the inventory of homes for sale is now well below the 10-year average, says Michael Orr, real estate expert at Arizona State University.

National data watchers have also seen improvements in Phoenix. In October and November, it was the only one of 20 major cities to see home values rise month-to-month, according to Standard & Poor’s Case-Shiller home price index, which reports December results today.

Phoenix “is probably the best example we have right now of a hard-hit market that’s showing signs of recovery,” says Zillow economist Stan Humphries.

Making money on rentals

Strong demand for rental homes is boosting the market, Orr says.

While home prices plummeted in the downturn, rents haven’t, he says. That’s lured mom-and-pop and institutional investors who are buying single-family homes to turn them into rentals.

In January, more than 25% of homes sold were bought by investors, Orr says. Historically, they account for 10% of Phoenix home purchases.

Investor demand for homes priced below $100,000 is “frenetic,” says Laurie Hawkes, president of American Residential Properties. The real estate investment firm has bought almost 800 Phoenix-area homes in the past three years and turned them into rentals.

Last year, cash buyers accounted for about 94% of purchases for homes that sold for less than $100,000, she says.

The homes are often filled with people who lost single-family homes to foreclosure, Hawkes says.

Job growth in the Phoenix area has also outpaced state and national averages since mid-2011, says a December report on the region by Moody’s Analytics. That drives rental demand, too.

Prices are responding in the lower end of the market, says James Breitenstein, CEO of Landsmith, an investment firm that’s bought 225 Phoenix-area homes in the past year to rent out.

“Houses we used to buy for $50,000 are now creeping up to $60,000 or $70,000,” he says.

Arizona’s relatively fast foreclosure process is also helping to clear inventories of distressed homes. The state is among those that do not require court approvals of foreclosures.

About half the states do, including New York and Florida. In judicial foreclosure states, foreclosures have taken longer to complete. New rules since 2010 to ensure that foreclosures are done properly have extended time frames even more.

In Phoenix, it would take about 20 months — half the national average — to liquidate all homes currently in foreclosure or more than 90 days delinquent on loans, based on current foreclosure sales rates, says mortgage tracker LPS Applied Analytics.

A new government plan launched Monday should hasten the clearing of inventories of distressed homes, says Jim Belfiore, of Belfiore Real Estate Consulting in Phoenix. The government is offering to sell some foreclosed homes owned by Fannie Mae in Phoenix and other cities to investors to turn into rentals.

Improved affordability

In addition to investors, first-time buyers are also active, as are vacation home buyers and people who lost homes earlier in the downturn, says Arthur Welch of Realty World Superstars in the Phoenix suburb of Buckeye.

More traditional buyers are also in the market, Belfiore says. “People who have sat on the sidelines sense that the bottom has been hit,” he says.

When compared against median incomes, Phoenix homes are 15% more affordable now than they were on average from 1985 to 2000, Zillow says. Record-low mortgage rates, around 4%, stretch buyers’ dollars further.

Zillow expects Phoenix home values to rise 0.6% this year, vs. a 3.7% drop for the nation. Through November, Case-Shiller data show Phoenix home values down 3.6% year-over-year vs. a 3.7% decline for an index of 20 leading cities.

Phoenix still faces big challenges.

Last year, the region posted the nation’s sixth-highest metropolitan foreclosure rate, based on foreclosure filings by housing unit, market researcher RealtyTrac says.

As those homes hit the market, they’ll drive home prices lower, says Moody’s analyst Daniel Culbertson. Meanwhile, new single-family home construction will remain “lethargic,” he wrote in the December report.

What’s more, almost half the Arizona homes with mortgages were underwater at the end of September, says researcher CoreLogic. That compares with about a fifth of homeowners nationwide who owe more on their mortgage than their homes are worth.

It’s harder for underwater homeowners to sell and then buy other homes. Normal resales in Phoenix aren’t seeing higher prices yet, Orr says.

Still, he says the market is poised for a “significant rise” in prices at the lower end. “We will have to wait and see if this possibility turns into reality,” he says.

Peggy Kennedy

Peggy has been a Buyer Specialist with The Krone Team for over 2 years.  Her passion is working for her Buyer Client to find the perfect home to fit their needs.  Whether it’s a first time home buyer, move up buyer, or investor, Peggy’s guidance and knowledge is invaluable to her clients.  She has been actively selling Real Estate in Litchfield Park Az, Goodyear Az, Avondale Az, and Buckeye Az.

If you are thinking it’s time to start considering the purchase of a home, please give Peggy a call for a Buyer Consultation.