Arizona gets Mortgage Broker License Legislation

Good news for Arizona Mortgage Customers…now the loan officer that you speak with regarding your mortgage loan will be required to be a licensed professional. 

It was the mortgage broker industry, not the banks or mortgage bankers that fought the good fight for this important piece of consumer legislation.

However this legislation only seems to apply to Mortgage Brokerage Houses, not FDIC insured or federally chartered institutions.  This is the only article of value I could find on the Mortgage License Legislation, as the legislation was just signed into law yesterday.

You should know that I work with several trusted professionals in the mortgage industry and that you should call me if you are considering refinancing or moving.  I’ll make sure you get a great loan officer.

Your REALTOR (R)
Rob

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Need to sell before you buy? Try swapping…

If you are a seller that is looking to move anywhere in the country, but you have to sell your current home before you can move, now there is another option.  There is probably someone in the city that you are moving to that is in your same predicament…they might even have a house that you would like.  The latest opportunity in this emerging real estate market is “home swapping.”  One of the websites, www.TheHomeSwap.comis using software that was originally designed for dating (think eHarmony or Match.com) and applying it to the real estate market.  This is how it works:

1) You enter the details about your home, then the details of the home you would like to buy (in the same city, a nearby city or a city across the country.)

2) The software then checks the database for properties that closely fit your needs and that have homeowners looking to swap for a home like yours.

3) You get the list.  You can then send a message through the internal message board to the owner indicating you like their home and would be willing to discuss a swap.  They respond if it would work for them.

4)  If it does work for them you get each other’s contact information and from there you can work out the details.

Basically, at that point it becomes two seperate, but dependent real estate transactions that close at the same time.

TheHomeSwap website has all the details.  There is a one time fee of $19.95 to support site marketing efforts.

If you would like to speak with me about having your home listed on the site, I can help you and even get the fee waived, so please contact me directly.  Also, don’t forget to visit my other blog - www.PhoenixBestAgents.com

Your REALTOR (R)
Rob

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Arizona Offers Distressed Homeowners a Helping Hand…

The Arizona Foreclosure helpline, funded by a Federal grant, offers help and counseling for homeowners facing foreclosure.  If you need it, the toll free, 24-7 number is (877) 448-1211.

You can also get more information at www.scottsdaleaz.gov/topics/socialservices.asp.

You can also contact me directly for help at rob@phoenixbestagents.com.

Your REALTOR (R)
Rob 

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Appreciation still in positive territory…

What? But everyone is telling you home prices are down…well, it’s all about perspective.  I’ve commented on this before in various other forums, but I found yet another graph to illustrate the fact that the market isn’t that bad.  Check out this graph from www.PhoenixRealEstateBrokerage.comand you’ll see that even though prices are down, they are still beating an ambitious 4%/year appreciation rate.  Of course if you bought high and need to sell now, that doesn’t help you.   As an agent, I would ask you if you really “need” to sell.  If you are in an upside down position, call me.  There are other options.

 Your REALTOR (R)
Rob

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