Entries Tagged 'Realtor Tips & Resources' ↓
July 9th, 2007 — Tucson Real Estate, Realtor Tips & Resources, Tucson Attractions
This topic has been on my mind the past several months. When the housing market exploded a few years ago and homebuyers squeezed into homes with Adjustable Rate Mortgages (ARMs) with seductive initial interest rates, I said to myself, “In 2 or 3 years when those ARMs come due, there are going to be a lot of unhappy people.”
The recent follies in the sub-prime mortgage market were an omen of trouble on the horizon and in a few more months that trouble will burst onto the mortgage scene with reckless abandon. According to this latest article from CNN.com more than 600,000 homeowners will be affected by the resetting mortgage rates.
“Delinquency rates will probably peak by the end of the year,” said Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), “and foreclosures in 2008.”
Lenders approved many borrowers who had little chance of being able to afford the payments two and three years out. They approved applications without any proof of income or assets (”liar loans”) and others that barely could make the low teaser-rate payments. Some borrowers chose interest-only ARMs, which left the principal of the loan untouched.
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Technorati Tags: Adjustable Rate Mortgages, ARMs, sub-prime mortgage
July 9th, 2007 — Tucson Real Estate, Realtor Tips & Resources, Tucson News
Since the start of 2007 there have been 2 deaths and 9 near deaths by drowning in Tucson. In just the past week there has been one death and 2 near drownings: 1-year old Daniela Parra drowned in an above ground pool in her backyard while friends and family were inside. A two-year old girl slipped past adults and nearly drowned in a backyard pool while other children were swimming. And a 5-year-old girl nearly drowned while swimming with adults and children. Every year we see heart-breaking stories like these that could be easily prevented and I thought it would be prudent to go over Arizona state pool laws for everyone.
In 1991 Arizona Revised Statutes (A.R.S) § 33-1681 was passed, requiring enclosures around pool areas. This is an Arizona state law but each city or county may implement additional, more restrictive laws. Check your local laws here. Here are the basics of the statute (from Arizona Department of Health Services - Residential Pool Safety Notice):
POOL ENCLOSURE REQUIREMENTS
A.R.S. § 36-1681 requires that all residential swimming pools are enclosed by a barrier. Unless a local code provides otherwise, the barrier must:
- Entirely enclose the pool area,
- Be at least 5 feet high,
- Not have openings, handholds, or footholds that can be used to climb the barrier,
- Have no openings through which an object 4 inches in diameter can pass,
- Be at least 20 inches from the water’s edge, and
- Prevent direct access from the house to the pool.
If the wall of the residence forms part of the pool enclosure, there must be:
- A barrier at least 4 feet high between the residence and the pool, or
- A motorized safety pool cover that requires a key switch and meets the American Society of Testing and Materials (ASTM) standards in F1346-91 (www.astm.org), or
- Self-latching devices on all doors with direct access to the pool, and
- Self-latching devices at least 54 inches above the floor on all emergency or rescue windows with direct access to the pool or pool area, and
- For all other openable windows with access to the pool or pool area, screwed in place wire more than 4 inches, or self-latching devices at least 54 inches above the floor.
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June 26th, 2007 — Realtor Tips & Resources, Consumer Resources
Lately it seems like news stories about For Sale By Owner (FSBO) homes vs. homes sold by real estate agents have been popping up more and more often. In many of the stories the conclusion is that FSBO homes are a better deal, financially, for the homeowner. Now I’m not saying a homeowner can’t or shouldn’t sell their own home, but I think it’s unwise to minimize the value that a good real estate agent provides. So I went ahead and made a list of the top 100 reasons you should use a real estate agent for everyone who is thinking of selling their home themselves. Enjoy!
- The best research tool for home buying – According to the National Association of REALTORS®, real estate agents are listed number one (85%) for Information Sources used in Home Searches.
- Saves you time – An agent knows clients lead a busy life with work, family and kids. A real estate agent takes the time necessary to ensure a smooth transaction with the least amount of intrusion into your life as possible.
- Less stress – Buying a home can be a stressful experience. Agents take the worry out of the home buying or selling experience. They do the work for clients so that means less stress in the long run.
- Peace of mind for the future – Agents know that buying a home is a big investment that clients will make for their future. Agents work with clients with this in mind, but also want to give their clients peace of mind—that they will be enjoying their home for many years to come!
- Security for yourself and your family – By helping you find that perfect home for you and your family, agents care about clients and their well-being. An agent is going to take that extra step to ensure clients and their families are happy and secure with their new home purchase. Continue reading →
Technorati Tags: For Sale By Owner, FSBO, top 100 reasons you should use a real estate agent
