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When Can I Buy Again After a Short Sale or Foreclosure?

by The Russo Team

When Can I Buy Again After a Short Sale or Foreclosure?

Many people who have gone through a short sale or a foreclosure in the recent past may be under the assumption they cannot purchase a home again for many, many years or perhaps never.  Although a short sale or foreclosure are not the best for any credit rating, it is not the end of the world for future financing options. Below is a chart of when you can buy again after a short sale or foreclosure.

If you or someone you know has recently gone through either a short sale or a foreclosure, and you would like to purchase a home again, please give me a call. The market conditions are perfect for buying – prices are affordable and interest rates have never been better. If you are unsure if you can qualify for a new mortgage, please give me a call. I can refer you to an expert loan officer who can assess your personal situation. Give me a call today. Frank

602-864-1200
www.RussoTeam.com

August RE/MAX National Housing Report

by The Russo Team

August RE/MAX National Housing Report

It appears the 2012 housing recovery continues through July and into August as the RE/MAX National Housing Report for this month is showing a steady increase from this time last year. July home sale were 10.3 percent higher than last July and the year-over-year home sales have now risen for thirteen consecutive months. And good news on home prices with a national increase of 3.7 percent.

“It’s reassuring that both sales and prices continue to rise higher on a yearly basis, indicating that this housing recovery is real,” said Margaret Kelly, CEO of RE/MAX, LLC. “Overall, the picture is getting brighter each month, but what we need for a sustainable recovery is a turn-around in unemployment and better availability of mortgages, especially for higher priced homes.”

If you would like to read the full August RE/MAX National Housing Report, please click here. It is exciting to see home prices rising in our own market here in Phoenix. It is even more exciting to discover that many homeowners, who previously thought they were underwater with their mortgage, can now sell without a negative balance. If you need to sell but not sure you can, please give me a call today. I will be happy to provide you with a complimentary market analysis of your home - Frank

602-864-1200 or www.RussoTeam.com.

RE/MAX Mobile App

by The Russo Team

RE/MAX Mobile App

For all the things that move you, get the RE/MAX Mobile App today and discover the power of the number one brand in real estate. Download the app at http://getmobile.remax.com.

If you or someone you know is in the market to purchase or sell a home, please give the Russo Team a call today. In our fast moving market conditions, it is imperative you have an experienced, knowledgeable, local agent on your side to get the job done! 602-864-1200 or visit us online at www.RussoTeam.com.

Smart Investors

by The Russo Team

Smart Investors

I was reading about our current market conditions online the other day, and it seems everywhere I look, the conditions are prime for investing in real estate. Home prices are low, average fixed-rate mortgages are low, more people are renting, and rents are rising.

Smart investors know this, and investment properties in our area have been going fast. Once you understand the math behind it, you’ll see why real estate is a wise investment. Investing the right way is about cash flow, not appreciation. Cash flow—in the form of rent—is the money you pocket after your expenses. It’s immediate, steady, and builds wealth over time.

Of course, there are plenty of factors to consider, and a thorough property evaluation is necessary, but that’s why you should talk to my team before you decide investing is not for you. As an agent with specialized training in real estate as an investment, I can show you properties that make sense for investing and help you invest with assurance. Contact me today. 602-864-1200 or visit us online at www.RussoTeam.com

Are you looking to buy? Consider a Lennar Home

by The Russo Team

Are you looking to buy? Consider a Lennar Home

The Russo Team is proud to be the exclusive sales team for Lennar Homes at Cabrillo Point. This subdivision is located in the heart of Peoria at 71st Avenue just south of Bell Road – a convenient location to shopping and dining at Arrowhead Entertainment District and within minutes of the 101 Loop.

This community is near completion - there are only a few home sites available to purchase at Cabrillo Point. If you are looking to buy, you should consider a Lennar Home! Click here to view the subdivision site map. The models and lots available for purchase are as follows:

Cortes Lot  # 23 – priced at $236,990
Cortes Lot # 24 – priced at $238,990
Bloomfield Lot # 25 – priced at $202,990
Freedom Lot # 35 – priced at $231,990
Freedom Lot # 36 – priced at $227,990
Cortes Lot # 46 – priced at $236,990

Please note these prices DO include upgrades and amenities. There will only be TWO homes sold at Cabrillo Point between now and the end of August. If you are looking to buy, now is the time to consider a Lennar Home. The real estate market is on the road to recovery and you should consider taking advantage of the new construction while it is available. These homes are priced below market and bases prices include upgrades you won’t find in most new homes. For more information on floor plan designs and community information, please click here. Call The Russo Team at 602-864-1200 or visit us online at www.RussoTeam.com.

Qualifying for a Home Mortgage

by The Russo Team

Qualifying for a Home Mortgage

In this informative video, learn the top 5 things you should do when qualifying for a home mortgage:

  1. Make a monthly budget
  2. Save for your down payment
  3. Know your credit score
  4. Find your paperwork
  5. Get pre-qualified for a home mortgage

If you are considering a home purchase, please give me a call today. I work with experienced and knowledgeable home mortgage consultants that can get you qualified for a home mortgage today.  Give me a call today - 602-864-1200 or visit us online at www.RussoTeam.com.

Top 5 Reasons to Buy a Lennar Home

by The Russo Team

Top 5 Reasons to Buy a Lennar Home

The Russo Team is proud to represent the Lennar New Home Subdivision in Peoria, Arizona known as Cabrillo Point. If you are considering a home purchase, here are the top 5 reasons to buy a Lennar Home:

  1. Reputation: As a builder, Lennar has been a leading developer in the Phoenix area for many years. They have a solid, reliable reputation you can trust.
  2. NEXT GENTM – The Home within a HomeTM
    Lennar is the first national home builder to recognize the growing need of homebuyers and their families to “double up” in order to minimize their monthly expenses. Lennar has designed a great solution for long-term guest, family members or anyone else who can utilize this innovative space. It is a complete suite with bedroom, eat-in kitchenette and living room. The “home within a home” concept can be integrated into the home’s living space or kept as a private residence.
  3. Great location: Cabrillo Point is conveniently located near the Arrowhead Entertainment District with easy access to the 101 Loop and highly ranked Peoria Schools.
  4. Everything’s Included: Lennar is proud to offer thousands of dollars in extras by including them in the base price you will pay. Receive the latest in luxury, technology and efficiency without paying more!
  5. Affordable pricing: At Cabrillo Point base prices start at $168,990 and homes range in size from 1,400 square feet to nearly 3,000 square feet. There are five different floor plans available to choose from as well as move-in ready inventory. Dollar for dollar, Lennar offers a fantastic opportunity for homebuyers!

If you or someone you know is interested in learning more about Lennar Homes at Cabrillo Point, please click here.

The Foreclosure Fairytale

by The Russo Team

The Foreclosure Fairytale

There is a lot of misinformation out there. I would not be surprised to find out that you have heard that a foreclosure is sometimes the best option for you. Nothing could be further from the truth. For the vast majority of homeowners out there who are in danger of losing their homes, a short sale represents a vastly superior option.

The reality is that a foreclosure is a devastating option.

As a real estate professional with the Certified Distressed Property Expert (CDPE) Designation, I have put together all of the benefits of a short sale over a foreclosure in a free report that is available to anyone.

Take a look at my site and download a copy of my free report entitled "The Foreclosure Fairytale" - then contact me for a free, confidential consultation. If you know of someone who could use my help, please direct them to my site www.RussoTeamHelps.com.

I look forward to hearing from you soon - Frank.

Avoid Mortgage Scams - Know the Signs

by The Russo Team

Avoid Mortgage Scams – Know the Signs

In our rapidly changing real estate market, it is easy to find yourself victim to unscrupulous activities that take advantage of people who need help. Here are a few signs to watch out for to avoid mortgage scams.

  • You are told you will get a federal incentive to walk away from your home
  • You are asked to pay upfront for counseling
  • You are pressured to sign papers immediately
  • You are asked to sign your house over to a company or person who is not working with your mortgage company
  • You are asked to make a mortgage payment to someone other than your mortgage company without their approval
  • You are guaranteed a successful short sale or mortgage modification

If you believe you are a victim of a mortgage scam, you should contact the Federal Trade Commissions (FTC) at 1-877-FTC-HELP (1-877-382-4357) or visit their Complaint Assistant www.ftccomplaintassistant.gov.

If you or someone you know is struggling with their mortgage payment or their home is worth less than they owe, please contact the Russo Team today. There are alternatives and we can help. 602-864-1200. www.RussoTeamHelps.com.

Displaying blog entries 1-9 of 9

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The Russo Team
RE/MAX Professionals
7111 West Bell Rd. Ste 101
Glendale AZ 85308
602-864-1200
602-739-2727
Fax: 623-643-1008

RE/MAX Professionals. Each office independently owned and operated.