PhoenixHomeKey.com

Queen Creek Library

Phil & Sheryl Robinson — Thu, 09 Jul 2009 17:06:00 GMT

Queen Creek has been getting a make over of late and in November of 2008 was proud to open the door to its beautifully designed Library, located at the northwest corner of Ellsworth and Ocotillo roads. The library is designed to provide a gathering place for people of all ages. It includes the Mary Lou Fulton Children's Center, a Teen Oasis, general reading areas, public computers, study rooms, conference rooms and Town recreation programming space. With in the building The Friends of the Queen Creek Library operate a resale bookstore and provide additional support for the branch.

Note to Pinal County residents.
The Queen Creek Branch Library is part of the Maricopa County Library District. Any individual showing proof of residence and /or property ownership in Maricopa County is eligible to apply for a free library card. The Maricopa County Library District is funded primarily by a secondary property tax.
Non-residents who live outside Maricopa County and who do not own property in Maricopa County must pay a fee to obtain a card because they do not pay the secondary property tax that supports the operations of the Library District.

21802 S. Ellsworth Road
Queen Creek, AZ 85242
Tel: 602-652-3000

Hours
Mon-Thur 9am-8pm
Fri-Sat 9am-5pm

Queen Creeks New Post Office is Taking Shape

Phil & Sheryl Robinson — Thu, 09 Jul 2009 16:58:00 GMT

If everything goes as planned, the residents of Queen Creek could be preparing and shipping their holiday packages from inside a new and spacious post office.

The land was deeded to the postal service by the Town of Queen Creek and construction in now well on its way towards completion of the new 26,000 square-foot post office, located just south of Ocotillo Road on the west side of Ellsworth Loop Road in Queen Creek and is expected to be complete by the end of the year.

Thanks to recent growth in the town and surrounding unincorporated areas, Queen Creek’s small post office has more than three times the customers today than it did five years ago. It served 10,000 mail delivery locations in October 2003 compared with 31,000 today. Queen Creek’s post office employs about 80 people.

The current post office is small and the town has out grown it. There is the same number of customer service windows as most other post offices, but the waiting area is cramped. A line that stretches longer than a few people often forces customers out the door. The parking lot is also very tight. There is no drive-thru lane for mailing letters, and it doesn't have a separate retail area for items such as stamps and shipping supplies. It's also too small to hold the mail and the town's carriers.

The new facility will keep both its workers and customers more comfortable and will operate a lot ore efficiently than the existing set up. There will be a drive-thru lane for customers can drop off their mail with out getting out of their cars and the space inside will have room for patrons to prepare their packages in comfort.

Just Listed in Superstition Springs, Mesa AZ Under $200,000

Phil & Sheryl Robinson — Mon, 29 Jun 2009 02:59:00 GMT

Agent Name:	SherylRobinson
Phone:	602-614-0416
Email:	sheryl@azhomekey.com

7127 E LAKEVIEW AVE Mesa

For Sale at Under $200,000

Send To

Subdivision	Superstition Springs
Category	Homes
Type	Single family Re-sale
Sq Footage	2280
Bedrooms	4
Bathrooms	2
Lot Size	0
Short Sale	Yes
Year Built	1996
Home Address	7127 E LAKEVIEW AVE Mesa, AZ 85209

Home Description

Beautiful curb appeal greets you as you drive up to this home. The front door opens to the family room which is open and spacious with views to views to the landscaped back yard. The Kitchen features an island and granite counter tops - wood flooring, tile and carpeting throughout the home. Professionally decorated with neutral colors used. Cabinets in the garage & sun shades. Plenty of fruit trees including lime, peach and orange! Great Home, Great Price, Great Location.

7127 E LAKEVIEW AVE Mesa

Click on the thumbnails to enlarge

7127 E LAKEVIEW AVE Mesa

Home Features

Central AC	Central heat	Walk-in closet
Hardwood floor	Tile floor	Family room
Living room	Dining room	Dishwasher
Stove/Oven	Microwave	Granite countertops
Attic	Yard

Additional Links

Virtual Tour

Price Reduced on 7127 E LAKEVIEW AVE in Superstition Springs

Phil & Sheryl Robinson — Mon, 29 Jun 2009 02:49:00 GMT

Superstition Springs, Mesa - Announcing a price reduction on 7127 E LAKEVIEW AVE, a 2,280 sq. ft., 2 bath, 4 bdrm single story. Now MLS® $195,000 - .

Property information

Home Key Realty Goes Green

Phil & Sheryl Robinson — Thu, 11 Jun 2009 00:06:00 GMT

Home Key Realty is proud to announce that it has turned into a paperless Real Estate Brokerage.

Through the course of a single real estate transaction a REALTOR goes through a lot of paper for just one file so it makes all the sense in the world to reduce that paper consumption by going digital and that's what Home Key Realty in Queen Creek Arizona has done.

The first step in the process was to have the ability for all our clients to receive the required documents in a PDF format and instead of them having to print this off, sign and return via fax we implemented digital signatures. Many of our clients did not have a fax machine at home so they would have to fax it from work or a UPS store which took time and lost clarity each time it was sent using this method. After a few times through a fax machine most documents became illegible. Introducing Docu-Sign our new digital signatures tool which allows our clients to review their documents, and after agreeing to use digital signatures they can complete the signing process at the click of a mouse. Once done the completed document is emailed back to the brokerage with no loss of image quality. The digital signatures are legal and binding just as an ink signature would be. The feedback we have got from our clients over the past couple of weeks has been very positive and the process has speed-ed up the response time from our clients to return these sometimes time sensitive docs.

The next step was to get the Home Key Realty brokerage filing system onto a digital format. The Arizona Department of Real Estate requires that all contracts be kept for a five year period which begins to take up a lot of space using the paper method not to mention the potential fire hazard all that paper creates. As Apple says in the i-phone commercial "Theres an app. for that". Home Key Realty now has evey file stored online and is securly backed up on 4 different servers in 4 different states giving us the ability to quickly search for files a client may need and email them to them at any point in the future.

As a result of these two new tools I am personally seeing a reduction in pieces of paper in my office and on my desk. I can find what I need very quickly and look forward to the day very soon where the only thing on my desk will be my MAC, keyboard and mouse.

Want to Know Why Mortgage Rates Are Up Over 1.12% In 10 Days?

Phil & Sheryl Robinson — Thu, 11 Jun 2009 00:03:00 GMT

Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership.

To the casual observer, the moves may seem random. There's a reason this is happening, however.

It starts with inflation.

As an economic force, inflation erodes the value of the U.S. Dollar. Left unchecked, it drives up the Cost of Living as each dollar "buys less" at the supermarket, gas station, or anywhere else.

But with respect to mortgage rates, inflation's impact is more immediate. Because inflation devalues the dollar over the long-term, it renders long-term mortgage bonds a less attractive investment for traders.

If bond investors are repaid in U.S. Dollars, after all, it would make the investment worth less if the dollar is in an inflationary freefall.

Therefore, in situations when inflation is likely to present, we find that traders often sell out of their mortgage bond positions which, in turn, drives down the bond prices. Then, because bond yields move in the opposite direction of bond prices, rising rates are the inevitable result.

Lately, Wall Street is fearing inflation for a number of reasons:

Job losses are slowing, adding to consumer spending expectations
Gas prices have risen 41 days in a row
The federal government is increasing the money supply
These 3 factors -- plus a few others -- are all coming to a head around the same time and traders are getting defensive with their portfolios. As a result, they're selling their mortgage bond positions and it's driving mortgage rates higher.

Rates may continue to trek toward 7 percent through July and August, or they may retreat toward 5 percent. We can't know for sure. What we can know, though, is that volatility in rates should continue until the economic picture gets more clear. That could be next week, or next year.

For now, be ready to lock at a moment's notice. Mortgage rates are changing quickly.

2 Story For Rent/Lease in Queen Creek

Phil & Sheryl Robinson — Wed, 10 Jun 2009 23:38:00 GMT

• 3,261 sq. ft., 3 bath, 5 bdrm 2 story - $1,695 USD Monthly

Queen Creek, Maricopa County - Beautiful and spotless home in the Fulton built master planned community of Cortina on the Gilbert - Queen Creek border. This home boasts over 3200 sq.ft of living space with 5 large bedrooms and 3 bathrooms. The kitchen has stainless steel appliances, granite work surfaces tile floors and a walk in pantry plus kitchen island. The living room has plenty of space with a built in gas fireplace. Neutral paint through out the home. Large covered patio. North / South exposure. Landscaped back yard. Loft area. Double door entry to the large master bedroom with huge walk in closet and separate shower and tub. The community has its own K-8 elementary school plus parks, basketball courts and a community pool. Easy access to the loop 202 freeway and new San Tan Village Mall.

Property information

Watch out for martgage rates when gas prices rise.

Phil & Sheryl Robinson — Fri, 27 Mar 2009 17:48:00 GMT

Don't look now but oil prices are climbing.

This should worry today's home buyers and would-be refinancers because some of the same forces that helped to push crude past $50 for the first time in 4 months also cause mortgage rates to rise.

March 18, the Federal Reserve committed an additional $1.15 trillion to support the economy.

Since the announcement, investors have questioned whether the Fed is purposefully spurring inflation. The Fed's total debt purchases now total $1.75 trillion.

And to finance its purchases, the Federal Reserve is printing new money, devaluing the U.S. dollar along the way. This then leads to inflation which, all things equal, causes oil prices to rise, gas prices to rise, and mortgage rates to go with them.

As we've seen the last few summers, oil prices and mortgages seem to touch their yearly high points while the weather is warmest.

Always remember, our team is committed, qualified and equipped to help you and your clients navigate today's mortgage and credit marketplace.

Send a friend a bailout check from Bank of Obama! What?

Phil & Sheryl Robinson — Tue, 10 Mar 2009 23:49:00 GMT

Since so many companies are getting bailed out, a group of friends from Texas built a website that allows you to send “bailout checks” to people you know. The web site is called www.bankofobama.org. Just go to the home page, fill in the recipient, put in the dollar amount, choose a memo, and then send it to someone you think needs a bailout. (a small fee applies with certain functions) It was designed to give us a little humor in these seriously depressing economic times. Send a check and put a smile on someone’s face.

PS these checks are not real

First Time Home Buyer Credit Form.

Phil & Sheryl Robinson — Mon, 09 Mar 2009 21:49:00 GMT

As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 -- better known as the First-Time Homebuyer Credit Form.

True to tax code standards, the 10-field form is accompanied by 3 pages of instructions.

Form 5405 is a helpful, go-to resource for home buyers with questions about the tax credit.

For example, the form distinguishes tax consequences for homes bought in 2008 versus 2009, and clearly defines the term "first-time home buyer".

In addition, Form 5405 highlights the math behind the tax credit. In general, the First-Time Homebuyer Credit is equal to the lesser of:

* $8,000 for homes bought in 2009
* 10 percent of the home's purchase price

Married couples filing separately are entitled to half of the expected credit, and homes sold within 3 years are subject to a credit repayment in the year the home ceases to be the "main home".

Form 5405 is a comprehensive reference. However, be sure to check with your accountant for specific questions about your personal returns and how the First-Time Homebuyer Credit may impact your finances. There is no substitute for professional, paid advice.

Power Ranch Spring Garage Sale

Phil & Sheryl Robinson — Mon, 09 Mar 2009 20:08:00 GMT

Saturday April 18th 2009 7am to 1pm.

The Power Ranch Comunity will be holding its spring garage sale. Residents can make a little extra cash and clean out that garage by taking part in the Annual Spring Garage Sale. The Power Ranch home owners association will be handling all the advertising and bringing in the customers. They will put ads in the area newspapers and place out signs. Also, the Goodwill will have 2 trucks at the Ranch House from 9am to 2pm for any unwanted or unsold items that residents would like to donate. Come warly and find the bargin you are looking for.

Power Ranch is located on the North West Side of Power Rd & Queen Creek Rd in Gilbert AZ.

It's Called A Buyers Market For A Reason

Phil & Sheryl Robinson — Tue, 03 Mar 2009 19:24:00 GMT

Turn on the TV or open a news paper and you will find lots of news about foreclosures and sellers not being able to pay their mortgages and how difficult it is to sell a home right now. Compare that to 2005 when the shoe was on the other foot and it was the sellers who had the upper hand, being able to sell their homes in under 30 days with multiple offers and more often than not receiving over asking price for the property with buyers often waiving their appraisal contingencies. Oh how times have changed. back in 2005 there were very few homes available for sale and droves of buyers. Being a buyer back then was stressful in the fact that the longer you waited, the more expensive the homes became.

Jumping 4 years ahead to 2009 and the pendulum has swung from a sellers market to a buyers market nationwide and particularly here in the Phoenix valley. One example of this is a buyer I am representing at the moment. My client is a first time home buyer who back in 2005 couldn't of ever dreamed of qualifying for the loan amount required to buy the home she is under contract on now. The subject home was built in 2005 and is almost 1600 sq.ft with 4 bedrooms. It sold back then from the builder for $191,500. The home is a single level residence in great condition which was verified by the home inspection. My client is under contract on the home for $110,000. A 42.5% reduction in value, but that is not the best part. We negotiated for the seller to pay $6,300 of the buyers closing costs, plus buy a 12 month home warranty on the place. The buyer has been approved for an FHA loan which requires 3.5% of the purchase price to be paid buy the buyer and the remaining 96.5% is financed. In this case my buyer had to come up with $3,850 for the down payment plus paid $225 for the home inspection and $68 for a termite pest inspection totaling $4143. Because my client has not owned a home in the past 3 years she qualifies for the First Time Home Buyer Tax Credit for which she will receive $8000 back when she files her taxes.

To sum up what my client is experiencing:

She has bought a home that only a few years ago thought she would never be able to afford.
The total payment for Principle, Interest, Taxes, Insurance and HOA dues are under $900 which is only $50 more a month than what she is currently paying in rent.
She has an FHA loan that is fixed for 30 years at 5.5% and will never adjust.
The Seller paid for all her closing costs and bought a 12 month home warranty on the home.
She had to come up with $4,143 to close the transaction which she could have borrowed from a family member if she had to.
Because she is a first time buyer she will receive $8,000 back as a tax credit so she has bought a home and will pocket $3,857 for doing so.
She is a very happy and proud of her new home.

There are a lot of people out there right now who are thinking of buying a home but are nervous to do so with everything that they are reading and hearing about. If you can be bold enough to put those points of view to one side for a moment and take a look at the positive side to this equation then you may find that it's in your best interest to look into buying now while the opportunity is here. It's called a buyers market for a reason.

For more information on buying your first home contact Phil Robinson on 602-743-2120.

Can You Guess What Percetage of Mortgaes Are Still Paid On-Time?

Phil & Sheryl Robinson — Tue, 03 Mar 2009 18:14:00 GMT

Mortgage delinquencies are on the rise nationwide, but the news may not be as bad as it appears at first glance.

Using anonymous data from its national credit database, TransUnion reports that 4.58 percent of American homeowners were at least 60 days past due on mortgage payments last quarter.

Comparing the statistic to the data from a year ago, the credit reporting agency goes on to say that mortgage delinquencies are up 53 percent.

Although fair, the comparison carries a distinct, negative connotation because if we flip the data to its positive, the statistics don't seem nearly as menacing.

Consider: In the last quarter of 2008, 4.58 percent of homeowners were delinquent on their respective mortgages. The positive sign, therefore, is that 95.42 percent of homeowners were not delinquent on their home loans.

Furthermore, in looking at TransUnion's data for the 5 largest states in the Union, it's clear that the national delinquency rate is being skewed by California and Florida. New York and Texas, for example, exhibit delinquency rates below the national 4.58 percent marker.

Headlines are designed to attract eyeballs and nothing else. To get the complete story, therefore -- the real story -- it never hurts to dig a little deeper into the facts.

5 Tips for first time home buyers.

Phil & Sheryl Robinson — Sat, 28 Feb 2009 20:09:00 GMT

1. Don’t go on Blind Dates

Don’t be set up. Assess in great detail what you are looking for in a home. The more strict and structured you make your needs/wants list beforehand, the less likely you are to be blinded when you view a house.

You may get excited by the stainless steel appliances but don’t overlook the fact that one of your requirements was an large walk in closet. That appliances are pretty, but it’s not going to give you enough space to store all your clothes.

Set strict priorities and you are far more likely to get a house that you can have a long-term relationship with.

2. Don’t go Alone

Having a real estate professional on your side will help you during every stage of the home buying process. From getting advance notice of newly listed properties, skilled negotiation, and help with paperwork, having someone on your side is extremely important.

3. Buy a Lifestyle as well as a House

Owning a home is a major life adjustment. Not only do you have to keep in consideration the layout of the house itself, but you will need to consider the surrounding areas as well. Things such as the locations of schools, churches, doctors, parks and anything else you consider important to your lifestyle should be taken into account.

You will not spend every minute of your time in your home and therefore you need to look at the overall picture when purchasing a house.

4. Your House Will Also Own You

Buy within your means.

When you get pre-approved for a mortgage, focus on seeing that number as a maximum.

Getting pre-approved for an amount slightly higher than you were considering spending in the first place can be very tempting with the new options that a higher price range opens up.

Buying even a little out of your means can make a big impact on your finances for years to come. Particularly as a new homeowner, you may be surprised by the increase in utilities, and the burden of expenses like property taxes and maintenance.

Don’t over-extend yourself.

Remember: “House-Broken” can happen to people, not just pets!

5. Have Fun!

Despite the potential drawbacks, buying your first house is an exciting, enjoyable, life-changing event!

Owning your own home can have an overwhelmingly positive effect on your finances, your lifestyle, and your well-being.

Enjoy shopping for a home and making plans about redecorating, landscaping, and planning rooms.

You only get to buy your first house once, so don’t forget to enjoy the ride and don't forget the Tax Credit from Uncle Sam of up to $8000 for first time buyer during 2009.

FHA Increases Loan Limit in Maricopa County

Phil & Sheryl Robinson — Fri, 27 Feb 2009 01:26:00 GMT

FHA has increased the loan limits in most areas again. Maricopa County is now $346,250 for a single-family residence.

Reduced Price on this Mesa Home with a Pool $147,000

Phil & Sheryl Robinson — Mon, 23 Feb 2009 20:53:00 GMT

Sheryl Robinson. Broker | Home Key Realty | sheryl@azhomekey.com | 602-614-0416

4917 E Holmes Ave, Mesa, AZ

Beautiful Pool. Great location, with easy freeway access.

3BR/2BA Single Family House

offered at $147,000

Year Built	1996
Sq Footage	1,279
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	5,454 sqft
HOA/Maint	$35 per month

DESCRIPTION

This home offers a great feeling of space with an open floorplan and vaulted cielings. From the living room there are double sliding doors leading outside to the patio and play pool with rock water feature. The kitchen has an openening through to the living room and a good sized pantry along with inside laundry room. Split master bedroom plan. Tile flooring throughout home with carpeting in all 3 bedrooms. A great home with a functional floorplan and easy Freeway access.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Tile floor	Living room
Dining room	Dishwasher	Refrigerator
Microwave	Laundry area - inside	Swimming pool

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Contact info:

Sheryl Robinson. Broker

Home Key Realty

mailto:sheryl@azhomekey.com?subject=4917 E Holmes Ave, Mesa, AZ

602-614-0416

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 23, 2009, 12:46pm PST

Price Reduced to $215,000 on this large 4 bedroom Gilbert home

Phil & Sheryl Robinson — Fri, 20 Feb 2009 18:50:00 GMT

Sheryl Robinson. Broker | Home Key Realty | sheryl@azhomekey.com | 602-614-0416

3538 E SANTA FE LN, Gilbert, AZ

Great home in San Tan Ranch.

4BR/2.5BA Single Family House

offered at $215,000

Year Built	2003
Sq Footage	2,881
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	7,150 sqft
HOA/Maint	$0 per month

DESCRIPTION

Great 2 level home in San Tan Ranch with easy access to the 202 freeway and San Tan Village shopping and restaurants. The kitchen has a large pantry, upgraded cabinetry and looks into the living room. Wood and tile flooring throughout home. Downstairs room is currently used as a play room - however can be used as an office or den also. Master bedroom has en-suite bathroom with separate shower and tub, along with walk in closet. Cabinets in the garage for organization. Backyard has covered patio.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Walk-in closet
Hardwood floor	Tile floor	Family room
Office/Den	Breakfast nook	Dishwasher
Stove/Oven	Microwave	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Garage parking

OTHER SPECIAL FEATURES

Loft

ADDITIONAL PHOTOS

Seller contact info:

Sheryl Robinson. Broker

Home Key Realty

mailto:sheryl@azhomekey.com?subject=3538 E SANTA FE LN, Gilbert, AZ

602-614-0416

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 20, 2009, 10:41am PST

New Reduced Price on 3511 E Baseline Rd, Phoenix

Phil & Sheryl Robinson — Fri, 20 Feb 2009 18:48:00 GMT

New Reduced Price for 7413 W Columbine DR Peoria. Possible $8000 First Home Buyer Time Tax Credit Available On This Purchase

Phil & Sheryl Robinson — Wed, 18 Feb 2009 18:54:00 GMT

Contact us for our FREE foreclosure home locator Service

Sheryl Robinson. Broker | Home Key Realty | sheryl@azhomekey.com | 602-614-0416

7413 W Columbine Dr, Peoria, AZ

No HOA and RV gates

3BR/2BA Single Family House

offered at $175,000

Year Built	1985
Sq Footage	1,852
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	8,002 sqft
HOA/Maint	$0 per month

DESCRIPTION

Beautiful tiled courtyard awaits you as walk to the front door. The living room has 2 doorways leading into the dining room. The galley kitchen has a skylight, breakfast bar is open to the family room. Split floor plan, the master bedroom has en suite and walk in closet. Tile through out the home. French doors lead to the back yard. RV gate and parking. No HOA.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Tile floor
Family room	Living room	Dining room
Dishwasher	Laundry area - inside	Yard

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Seller contact info:

Sheryl Robinson. Broker

Home Key Realty

mailto:sheryl@azhomekey.com?subject=7413 W Columbine Dr, Peoria, AZ

602-614-0416

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 18, 2009, 10:53am PST

$8000 First Time Home Buying Tax Credit

Phil & Sheryl Robinson — Wed, 18 Feb 2009 18:49:00 GMT

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.

    * The tax credit is for first-time home buyers only.
    * The tax credit does not have to be repaid.
    * The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
    * The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
    * Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Economic Stimulus Plan Benefits the Housing and Mortgage Industries

Phil & Sheryl Robinson — Wed, 18 Feb 2009 18:45:00 GMT

Just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.

Home owners and potential homebuyers stand to gain from key provisions in this stimulus plan. Here is what we know as of today...

The following discussions are intended for you to use directly with your client either in writing or verbally.

Tax Credit for Homebuyers

First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future

Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

First time home buyers $8000 tax credit

Phil & Sheryl Robinson — Fri, 13 Feb 2009 18:18:00 GMT

There's still a fair amount of confusion regarding the new home buyer tax credit, as the legislation isn't final and the draft is still pending a final vote in Congress. As you know, I'm not happy about Congress's wimpy $8,000 credit versus the $15,000 proposed, but something is better than nothing.

According to today's Wall Street Journal, the tax credit is for first time home buyers only that are buying between April 2008 and June 2009. The credit is now nonrefundable. That means that the existing $7,500 credit is increased by $500 and no longer needs to be paid back as an interest free loan over 15 years, as was previously the case.

The National Association of Realtors provided a different window on effective dates, however. They indicate that the pending legislation is $8,000, but that it is for purchases made between January 1, 2009 to December 1, 2009. And if the home is resold within 3 years the credit must be recaptured on the sale of the property, but if it is held for more than 3 years it is nonrefundable.

In addition, the existing credit was ineligible for homeowners utilizing revenue bond financing. That provision, according to NAR, has been eliminated.

Once the legislation passes both the House and Senate we'll have the final facts to you ASAP!

Just Listed in Fuller Ranch, Mesa AZ $145,000 with a Pool

Phil & Sheryl Robinson — Wed, 11 Feb 2009 19:49:00 GMT

Contact us for our FREE foreclosure Service

Phil & Sheryl Robinson | Home Key Realty | 602-743-2120

748 S Rose, Mesa, AZ

Great Location Close to Elementary School.

4BR/2BA Single Family House

offered at $145,000

Year Built	1984
Sq Footage	1,622
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	7,767 sqft
HOA/Maint	$0 per month

DESCRIPTION

Great central location with easy freeway access for this Mesa home in an area without the burdens of a HOA and with the elementary school within walking distance. The living room and dining room share a see-through brick wood burning fireplace and have vaulted ceilings. Tile and carpeting throughout the home. French doors lead from dining room to back patio and pool. The master room has walk in closet and ensuite bathroom also with french doors leading outside. Laundry room is inside and good size. The Kitchen has a pantry and storage room that is currently being utilized for office space.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Tile floor	Living room	Dishwasher
Refrigerator	Stove/Oven	Laundry area - inside

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Seller contact info:

Phil & Sheryl Robinson

Home Key Realty

602-743-2120

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 11, 2009, 11:36am PST

New Reducd Price on this Mesa, Arizona Home with a Pool.

Phil & Sheryl Robinson — Wed, 11 Feb 2009 17:41:00 GMT

Contact us for our FREE foreclosure Service

Phil & Sheryl Robinson | Home Key Realty | 602-743-2120

10314 E Delta Ave, Queen Creek, AZ

3BR/2BA Single Family House

offered at $130,000

Year Built	2000
Sq Footage	1,310
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	6,799 sqft
HOA/Maint	$48 per month

DESCRIPTION

Great East Mesa home with mountain views. Kitchen with pantry. Vaulted cielings in the living room along with shelving for plants and decorations. Master bedroom with ensuite and walk in closet. Tile and carpeting throughout. Home has good size back yard, RV gate and covered back patio. Home in a great neighborhood near the Superstition Mountains. Area has over 40 acres of parks, lighted basketball and volleyball courts, walking paths, 5 child/tot play areas and elemantary school.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Tile floor	Living room
Dishwasher	Stove/Oven	Laundry area - inside
Yard

COMMUNITY FEATURES

Garage parking

OTHER SPECIAL FEATURES

RV Gate

ADDITIONAL PHOTOS

Seller contact info:

Phil & Sheryl Robinson

Home Key Realty

602-743-2120

For sale by agent/broker

Equal Opportunity Housing

Posted: Feb 7, 2009, 1:34pm PST

Fannie Mae Removes Its 4-Financed Property Limit

Phil & Sheryl Robinson — Tue, 10 Feb 2009 19:51:00 GMT

Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months.

Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. The restriction reversal does come with new minimum requirements, however.

Homeowners buying a 5th, 6th, 7th, 8th, 9th or 10th home must meet the following standards, as set forth by Fannie Mae:

   1. 720 credit score
   2. 25% downpayment for a 1-unit (30% for a 2-4 unit)
   3. No mortgage delinquencies in the last 12 months
   4. 6 months of reserves for each investment property

In other words, Fannie Mae is re-opening the lending spigot for real estate investors with good credit, a sizeable downpayment and ample reserves.

According to Fannie Mae, the change rationale is that experienced investors can "play a key role in the housing recovery". Until now, foreclosure auctions have gone at less than full speed because investors unable to pay cash have been halted by the existing 4-property Fannie Mae limit.

Going forward, expect a more expedient foreclosure liquidation nationwide which should, in turn, provide further support for the housing market.

And lastly, not to be forgotten, homeowners with more than 4 properties can finally participate in the ongoing conforming mortgage Refi Boom. Until now, they've been stymied by the 4-property restriction, too.

For more information regarding this or to obtain a home loan contact Jeff Underwood with AmeriFirst Financial on (480) 344-1910