Great home for sale in the retirement section of Ahwatukee.  This home has a remodeled kitchen and bathrooms.  The spacious kitchen has granite counter tops.  There is a large covered patio where you can relax and watch the sunset behind the mountains or the last of the golfers head to the clubhouse.  

More Information and Photos.

For most people, the chance to get the home buyer tax credit has expired.  However, for members of the military who meet the requirements below,  an “extra” year is available. 

From the IRS website:

Full IRS Link - 

First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees

More Information:  First Time Home Buyer Tax Credit  and New Tax Credit for Current Home Owners Buying a New Home

If you qualify for this, you might also be interested in – VA Home Loans – A Quick Guide For Homebuyers and Real Estate Professionals

There are lots of free and low costs things to do in Chandler, Arizona including free concerts, parks, and more.  Here are ten of our favorites:

1.  Chandler Public Libraries - There is a main library downtown and three branches.  The libraries offer free computer access to the public as well as reading areas for current magazines and newspapers.  In addition to books, you can also check out movies on DVD, books on CDs, and music on CDs.  The libraries offer book discussion groups and other programming for children, teens, and adults.  Currently there is a program running that allows you to check free passes for location attractions such as the Phoenix Zoo and Art Museum.

2. Chandler Center for the Arts- The Arts Center has a small gallery that puts on various art shows through out the year.  The next show Is Merrill Mahaffey The Artist’s Perspective:  50 Years in the West and it runs from September 3 to October 30.    The Center also offers some free concerts – tickets are available in advance for some of these.  Upcoming concerts include Brad Richter on Friday August 27 at 7:30pm and  the US Air Force Academy Band on Wednesday, COtober 13 at 7:00pm.

3. Chandler Parks - Chandler has a number of  neighborhood and community parks.  Did you know that the Paseo Vista Recreation Area has a great archery range as well as a playground, walking trail, and disc (Frisbee) golf range.    Parks such as Desert Breeze have a small lake where fishing is allowed.  See AZ Dept. of Game & Fish licensing requirements for fishing.

4. Chandler Environmental Education Center- The Center is located at Veterans Oasis Park.  It offers programs for adults and children including Meet the Creature, Dragons and Butterflies, and Organic Gardening.

5. The Zelma Basha Salmeri Gallery of Western American and Native American Art - The Gallery is located in Basha’s headquarters at 22402 S. Basha Road, Chandler, Arizona 85248.  It is typically open from 9:00 am to 4:00 pm Monday through Friday and admission is free.  However, they recommend that you verify it is open on the day you want to visit by calling  480-895-5230 and press option 2.    It has a collection of  over 3,000 paintings, drawings, sculptures, wood-turned bowls, basketry, pottery, kachinas and jewelry.

6. Paseo Trail- This is a 6.5 mile trail that runs along the sides of the Consolidated Canal.  One side is paved for pedestrian use (running and walking) and the other side is a dirt surface that can be used for horseback riding or biking.

7. Spray Pads & Pools - Several of the parks offer free fun spray for kids to cool off and play in during the summer.   You need to check the Chandler Parks website to see when the spray pads will be running in the park you plan to visit.   Chandler pools offer low admittance fees and some include water slides and toddler play areas.

Interest rates have fallen to the lowest level since tracking began in 1971.  The average rate for a thirty year fixed rate home loan is 4.69%.   In general, if you plan on being in your home for at least five more years and the current interest rate you are paying is at least one point higher than the current rate, you should consider refinancing.    Interest rates will vary depending upon your credit rating and the type of loan you are interested in obtaining.  The best way to find out what impact refinancing would have for you, would be to call your bank or credit union.  You might want to call several local banks or lenders as rates and loan costs may vary.

Low interest rates also make this a good time to buy a home.  Read our previous post – Why Get Preapproved For Home Loan?

For more information on interest rates:

Mortgage Rates Drop to a 39-year Low – Arizona Republic, June 25, 2010

Mortgage Rates Set New Record at 4.69%- Wall Street Journal Online

I just read an article from the Phoenix Business Journal regarding homes prices.    Everyone is always wondering when the real estate prices will have hit bottom.  That is something we can’t tell until prices have started to increase and we are past the bottom.  We have seen greater competition by buyers in the market place and reduced inventories compared to the recent past years. 

It is really important to get pre-approved for a home loan before you go out looking at homes with your real estate agent.  This is usually a quick process that can often be done over the phone.  Why is it important?

• You should look at homes in the right price range.  You may end up disappointed and frustrated if you start by looking at homes that cost $150,000 and find out that you can get a loan for $120,000.  By looking at the correct price range in the beginning your home search will go more quickly and smoothly.
• Not all homes can be purchased with all loans.  A good example of this is FHA loans which a lot of first time home buyers use.  The advantage to these is that they have a lower downpayment than conventional loans and you can negotiate to have the seller help pay some of your closing costs.  However, homes that need a lot of work will not qualify for an FHA loan.  Also, for condominums, the community must qualify for FHA approval.
• Talking with a lender at the beginning will also let you know if you need to save up additional money for a down payment or build/repair your credit history prior to starting your home search.

So talk with your lender first.  Then tell your real estate agent what type of loan that you plan to get and the price range of homes you want to consider.  If you don’t have a lender, your real estate should be able to give you names of lenders he has worked with in the past that have done a good job.

March sales of existing homes through the Arizona Regional Multiple Listing Service increased over last year by 18%. Some of this is attributable to the home buyer tax credit which requires a contract by the end of April. We have also seen a number of second home buyers from other states and Canada. Home prices are low right now and many articles I’ve read indicate that we may be at the bottom of the market. Interest rates are also still at historically low levels.

The number of months of inventory of existing homes has come down significantly since 2008.  This does vary by city and neighborhood within the Greater Phoenix area.   There are also variances between single family homes and condominiums.  FHA rules have changed and it is more difficult to purchase a condo using an FHA loan than it was in past years.  This has reduced the buyer pool for condos somewhat and will likely cause price recovery for condos to fall behind that of single family homes in the months going forward.

Beautifully remodeled two bedroom condo for sale in Woodglen Square community in Mesa, Arizona.  It has new carpert and tile, new kitchen cabinets, granite counters and stainless steel appliances.  Bathrooms were remodeled too.  For more information visit – Woodglen Square Condo.  If you would like to see this property  give your REALTOR MLS number 4358940 or give us a call at 480-917-1922.

There have been several articles in the Arizona Republic lately regarding reports on the housing market.  It looks like we will hit the price bottom for houses sometime this spring and may have already hit it for foreclosures.  Here are a few quotes and some links to the articles.

“Overall, the 20-city index (S&P/Case-Shiller 20-city home price index) climbed 0.3 percent between December and January.  Phoenix was one of only five cities to post an increase in home prices.”  — from Modest Signs of Life, AZ Republic, February 24, 2010.

According to ASU professor Karl Guntermann … “The slowdown in the rate of decline has been accelerating for several months,”  he said.   “If the present trend continues, prices will level off later this spring.”  — from Housing Price Recovery Hits Milestone, AZ Republic, February 25, 2010

This article goes on to say that foreclosures may have already hit the point where prices are the same as last year and no longer declining.  This fits what we are seeing the housing market.   There are fewer foreclosures out there and prices are very similar to last year.  There are now more short sales on the market than there were a year ago.