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General Area in Tempe : Real Estate Advice

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  • Local Info20
  • Home Buying50
  • Home Selling5
  • Market Conditions11

Activity 9
Mon May 18, 2015
Tony Grech answered:
FHA loans are typically the only loans these days that can be assumed. So you'd have to find someone selling who currently has an FHA loan.

Also, in order for you to assume the loan, the holder of their loan would need to qualify you for that loan. They generally use the same principles in qualifying you as if you applied for a loan on your own.

In addition, you'd probably have to come up with a larger down payment because when you assume a loan you are taking over only the balance owed and in most cased the seller is going to have some equity in the home.

For example, if they are asking $100,000 for the home and they owe $80,000 on the mortgage, then if you assumed the loan you'd have to put the remaining $20,000 down as a down payment. In that case, you'd probably be better off securing your own financing at a greater amount.

Make sense? Hope this helps!
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1 vote 1 answer Share Flag
Wed May 13, 2015
D. Elizabeth Vincent, AssocBroker answered:
What is your "reasonable price point?" Did you want a condo or a single family residence?
Elizabeth Vincent 602 8852476
0 votes 5 answers Share Flag
Thu Aug 28, 2014
Ron, Kristina Wilczek answered:
We empathize with your situation. I think you might be in the wrong forum.
0 votes 1 answer Share Flag
Thu Aug 28, 2014
Ron, Kristina Wilczek answered:
I moved here in 1978. The weather is ideal 8 months out of the year, very warm 2 months, and exceptionally hot (though dry, unlike New York) for 2 months. Cost of living is less and the people are much more friendly. Nothing compares with Manhattan but I think you would love it here. The job market depends on your skills. ... more
0 votes 6 answers Share Flag
Wed Aug 15, 2012
Brenda & Ron Cunningham answered:
We have had clients purchase here with allergies and respiratory problems and they just used air purifiers in the home to give them a rest from any pollen or allergens that might otherwise bother them. You would do best on the outskirts of the city were the air is clearer and of course I would suggest using air purifiers. We get occasional dust storms and you would want to avoid being outside during one. Normally after the dust storm the air is okay, but occasionally like today (we had one last night) you can see the air is not clear yet.

We moved here for the weather. It is mostly sunny and even in our monsoon season it is mostly sunny. It gets hot in the summer but we still sit outside during the evening and really enjoy it. Early mornings are nice as well. If you like to swim then you can spend more time outside during the day, but most everything has air-conditioning here so it is not bad. We are in the heat a lot while showing homes and although hot, I still love it here. We moved here from Illinois and the humidity made the heat there worse (in my opinion of course). When the temps are below 105 degrees it is nice as they get over 110 degrees in the summer months it is hot. The rest of the year is wonderful.

I would suggest the east valley as there is a nuclear power plant out toward Tonopah, which is west of Buckeye. There is a lot of growth east of Gilbert and should prove to be a good investment.

If you need further information, please don't hesitate to call!

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
Ron 602-499-0694

**** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ***
(out of over 40,000 Realtors)

Search the official, active, FlexMLS for homes like a Realtor for FREE through our website:
www.CunninghamHomesAZ.com
... more
0 votes 2 answers Share Flag
Tue Jun 14, 2011
Barbara Merrill answered:
Hi Jane,

I would love to help you find a clean foreclosure in Tempe, Arizona! I am an Associate Broker with Cactus Mountain Properties and take the time to preview homes for my clients to determine the condition before showing. I have lived and worked in Tempe for over 30 years. I can tell you that Tempe has much to offer for central location, exceptional schools and an active lifestyle. Let me know how I can best assist you in finding a nice, clean home for an affordable price in one of the many neighborhoods within Tempe. I would love to discuss your home purchasing needs in further detail. Please call me at 480-570-5263. Thanks! :) ... more
0 votes 2 answers Share Flag
Sat Dec 18, 2010
Loren Hoboy answered:
Before answering, please tell us your budget and investment objectives for both Commercial and Multi-Family.
Are you a passive owner planning to use a property management company, or will you be hands on?
What type of tenants will you be targeting.
Did you budget for and expect to provide TIs (Tenant Improvements)?
Are you only considering Tempe?
Do you require some level of current occupancy, or will you be willing to build a tenant base from scratch?
What condition property will you consider?
All of this impacts the price you will pay price.
These and other questions will need to be answered to select likely property prospects.
Dealing with Commercials is different than Multi-Family and agent experience make a difference.
... more
0 votes 4 answers Share Flag
Tue Jul 27, 2010
Ted Canto answered:
Sam,

So you know the stats.. 8-9 out of 10 people are going to the internet to search for homes such as places like Trulia. The agent that you want is the agent that understands this and has invested time and work on creating an internet presence and is able to put you into as many moving targets (buyers) as possible. Otherwise, what Sam prescribes will cost you time and very likely money as you will need to wait it out amoung the thousands of other properties that are discounted due to REO and short sales.

As you can see, Sam hasn't prescribed a solution for this very real problem in the market.
... more
0 votes 6 answers Share Flag
Wed Jul 23, 2008
Roberto Ribas answered:
I don't think you can quote an average. Does the home get alot of sun? do you keep it cold? do you have a programable thermostate in order to not cool the home so much when nobody is home? Can you put low-E film on the windows??? ... more
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