The Ugly Truth About Appraisals

April and May's increase in home sales have been the first back-to-back monthly home sales increase since September of 2005. Housing affordability is at historically high levels. So why haven't we seen a true housing recovery yet? According to Lawrence Yun, NAR Chief Economist, unemployment and new appraisal laws are to blame.

Distressed homes often sell for 20% less than traditional homes, however, some appraisals are not distinguishing between the two. Appraisers outside of the local area are being hired by lenders and may not take into consideration the unique qualities of a home. Moreover, changes in appraisal rules are leading to longer escrows. This can be seen in the continuous increase of pending home sales. These days, whether you are buying or selling, you may need to have more than one appraisal to back up your position. The quality of your appraisal is important. Real estate is local. Be sure to have your appraisal conducted by a local expert.

Remember the 3 R's - Green tips for Moms

It seems that all of the cleaning solution companies are claiming to be going green these days. All you need is baking soda, borax, vinegar and lemon juice to clean just about anything in your home. For recipes on homemade cleaning solutions click here. You don't have to purchase overpriced products.

Clothes made from organic cotton and recycled materials may sound better for the planet but making clothes, packaging clothes and shipping clothes takes precious and non-renewable energy. For Green clothing use, hand-me-downs. By buying used clothing you are recycling, reusing and reducing all at the same time. What could be better for the planet. I understand that most adults will not shop at thrift stores, but trust me your little ones don't care where their clothes come from.

The world’s clean water supply is rapidly depleting. For tips on conserving water click here
Store rain water to water the garden and lawn. You can also use used coffee grounds to fertilize plants!

Neighborhood Stabilization Program - Phoenix

NSP Homeownership Assistance funds are available for down payment and closing cost assistance for eligible buyers. The NSP Homeownership Assistance Program provides a $15,000 loan for down payment and closing cost assistance for buyers of foreclosed homes anywhere in the city of Phoenix. The full amount of the loan is paid back to the city when the buyer sells the home or refinances. All loans are forgivable after a period of time based on the amount of the loan. All loans are zero percent interest with no monthly payment. Homes must meet HUD Housing Quality Standards.

Determining Eligibility:

1. Eligible families can earn up to 120% of the area median income- Find Area Median Income Data
2. Be FHA creditworthy
   
3. Complete 8 hour Homeownership Education and Credit Counseling
4. Property must be maintained as primary residence

Contact me to learn more about the Neighborhood Stabilization Program. The program is also available in Scottsdale, Mesa and Chandler, however, the guidelines are different.

Free money is real and available. Take advantage of it!

How's your A/C working?

Has your air conditioning unit been cooling your home this summer? If your unit is constantly running and your home still does not seem to cool off you should contact an honest AC contractor. My contractor has been to my home twice this summer. He determined that the problem was not the unit, but the insulation. The ceiling was 102 degrees! He advised me to have the insulation in the roof evaluated. The insulation contractors determined that the insulation I had was R-19. R-49 is recommended for roofs.

R-value is the measure of a material's ability to resist heat conduction. The greater the material's R-value, the better it performs as an insulator.

If you are a do it yourself person and do not wish to hire a contractor you can find instructions at Lowes.com. However, after doing my research I found that it was actually less expensive to hire the professionals.

By properly insulating your home you will reduce energy costs and live more comfortably.