AUSTIN, TEXAS (September 2, 2009) —According to the J.D. Power and Associates 2009 Home Buyer/Seller StudySM, Keller Williams Realty, Inc., the third largest real estate company in North America, received the highest overall satisfaction ratings from home buyers among the largest fullservice real estate firms for the second year in a row. The company also ranked second-highest among home sellers in the study.

Check out this gorgeous home!  This is a steal with upgraded cabinets, stone and pergo flooring, backyard oasis, herb garden, and custom travertine walk-in shower with dual shower heads!  Visit www.BKFamilyHomes.com for more information on our Short Sales!  Contact Brenda Kilhoffer today at 623.337.8688 for your private showing!

Buyers are getting more and more frustrated in the Phoenix Metro area and especially the West Valley as our seemingly rock bottom pricing has contributed towards a shortage in inventory.  Those most affected are first time buyers struggling to get into a home by years end to capitalize on the $8000 tax credit.  What types of strategies are working for buyers out there?

We’ve had success with getting our buyer’s into short sales - fewer competing offers and a price that’s locked in when both buyer and seller commit to one contract.  Sometimes that’s the tricky part - finding those sellers that are willing to only submit one offer to the bank.  The banks aren’t quite so challenging to deal with anymore and the process seems shorter than it has in the past, but beware - one bad short sale experience can keep you from seeing those great deals out there. 

Pay your own closing costs!  If you can afford to - pay your own closing costs.  The asset managers on these REO’s are becoming more and more aware that just because a property gets over bid doesn’t mean the appraiser will see its value the same way potential buyers see it.  That means, in the end if the property appraisers for less than the highest bidder - the bank nets the most from the buyer who pays his/her own closing costs.

 Always submit your highest and best offer!  Many times the banks don’t counter offer.  Submit your offer at the highest amount you are willing to pay for the property and that you believe the value would support.  Remember, if it doesn’t appraise you still have an out and the seller may just come down to appraised value as most sellers today are very motivated.  If you love the house, you may not get a second chance so don’t sell yourself short by underbidding.  It could cost you thousands in the long run as prices are beginning to show upward pressure once again, not to mention the rising interest rates. 

Don’t be afraid of FHA 203K loans.  FHA offers 203K loans that will cover repair costs from $5000-$35000.  The property must appraise for the final loan amount.  There’s a little less competition at those stinky, dirty foreclosure properties that need a ton of repairs and there are companies out there that can bid all the work from carpet and cabinets to Air Conditioners and windows.  If you can look past the dirt and the work, these could be an option for you.

Get yourself on an MLS Portal.  Looking at our agent websites, REALTOR.com, AZCentral.com and places like that, give you great information but only update anywhere from once a day and sometimes take up to 72 hours to post information on a new listing.  Your REALTOR can provide you access to listings immediately as they become available giving you a jump start over the buyer’s who don’t have MLS Portals and don’s subscribe to listing searches through an agent.

Good Luck out there!  Talk with your REALTOR about other stratgies available to you so your offer is number 1!

Wow - what a weekend!  We had lots of traffic at the Villas at Palm Valley.  We’re down to only 3 completed units left to sell and ready to start on Phase II.  The phones rang all weekend…  I was hoping for a weekend off - but I guess it just wasn’t meant to be.  I wonder if buyers are in a panic over the news about Fannie Mae and Freddie Mac.  I suppose if I was thinking about buying a home in the near future - I’d probably get moving.  The first thing the fed’s will start doing is raise the interest rates if there’s a shortage of cash to lend.  Well, I don’t know what’s caused the change in the market - but you won’t hear me complaining!

Some bad news may be on the horizon…  I was listening to KTAR this morning and Fannie Mae and Freddie Mac stocks have dropped 50% this morning and they will be making some sort of announcement very soon.  Fannie Mae  and Freddie Mac provide stability and liquidity to the mortgage world  by making money available to borrow through purchasing mortgages and selling mortgage backed bonds.  Fannie Mae and Freddie Mac specialize in helping Low-Moderate Income and/or first time buyers.  We’ll have to sit tight and hear what the announcement is.  Hopefully, the media is just blowing things out of proportion and the announcements will be positive. 

Any way you look at it - anyone who is considering buying a home, needs to jump in the market now and take advantge of the programs that are out there today while rates are still low!

Goodyear, Litchfield Park, and Avondale home sales over the last 30 days are up to 19% of the inventory!  The market (not just the temperature) seems to be heating up.  After a very slow 2007, with much difficulty getting so much as an offer on short sales, I’m surprised by the number of buyers that are making offers on homes.  Things are almost moving as quickly as they did back in 2004!  I just listed a home in Estrella Vista and had two offers in only its first two days on the market!  There seems to be hope for homeowners who are facing the difficult decision to try and do a short sale vs. foreclosure!  It seems buyers are willing to excercise patience to save some money and are finally starting to give the short sale homes a try.  Banks are becoming more and more cooperative.  These short sales are getting approval and closing.  Tell me what you think…  Is it just a momentary surge in the market or do you think we may have hit bottom out here?  Could we be on the way back up?

Imagine pristine mountain views, peace and serenity as you sip your morning coffee in your private courtyard. After a long day at work, come home to exquisite luxury in your private master suite as you relax in your resort style Jacuzzi, surrounded by natural travertine and slate accents. Rich Alderwood doors and cabinets, warm fireplaces in master and family rooms, coiffered ceilings and many little touches throughout to remind you that your new home truly is a one of a kind custom! Don’t spend your money on semi-custom or tract homes until you’ve had an opportunity to experience fabulous custom lots & view in beautiful Estrella Mountain Ranch.

Click here to view featured properties in Goodyear, Arizona.

I’m blogging from the Keller Williams MAPS Masterminds in Austin Texas!  I am learning to provide up to the minute information to web users who want to know more about Goodyear, AZ!

Welcome to Brenda Kilhoffer’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Goodyear.