Team Deschacht Blog

Some interesting numbers were just recently released.

In a report showing Real Estate prices from 150 MSA's (Metropolitan Statistical Areas) a total of 73 MSA's showed 4th quarter price increases.

Fourth quarter price increases ranged from a modest 0.1% to an impressive 19%.

As in the past, the Real Estate market is correcting itself. One of the characteristics of the Real Estate market as a whole is that it is slow to adjust.

Interesting enough, data I personally analyzed showed that if you purchased a home in Bullhead City at the average sales price in 2004, by the end of 2007 you would see an appreciation rate of 54.1%.

We were asked by the Bullhead City Regional Economic Development Authority to give a presentation on the State of the Community. As soon as the Powerpoint presentation is done I will make it available on this website for download. The numbers don't lie...things are starting to level off.

Chris

It's official...our Property Management Division was launched and is now accepting new rentals.

Why now? It seemed like a good time to offer our clients this additional service. Since a lot of homeowners are having a hard time enticing buyers to make offers on their properties, leasing your home out might be the way to go. It also appears, on a local level, that the rental market is strong and appears to be strengthened by additional demand.

For example, your home has been listed for a while and you have dropped the property as low as you can go. You are still making the mortgage payment every month but there is no return on your money. Having a tenant in your property will give you some relief since the incoming rent will offset all or most of your monthly mortgage payment. When the Real Estate market recovers you can then either re-list the property or maybe your tenant might be ready to buy.

Since we, at US Southwest, are always looking for innovative ideas to help our clients, we offer short term Management contracts. Most Property management firms will want at least a five year commitment with some even looking for longer terms.

Our options start with a two year agreement. That way you can decide if being a "Landlord" is something for you. You can expect the same professional service at the same fees as owners who chose other options.

Contact us today for more information. We will answer all your questions and help determine solution that is right for you.

Another innovative idea by US Southwest / Team Deschacht...

Chris

The loan officer interview was created to answer some questions on the newly reformed FHA insured mortgage. The changes are made to get continue to get people in homes, thus realizing the American Dream...

Here is an excerpt from the interview:

Team Deschacht: Has it become harder to qualify for an FHA insured loan due to the subprime crisis?

Stevie Weaver: Not at all, FHA has always been easier to qualify for a loan and they haven’t changed the qualification requirements. If anything, it’s easier right now because FHA Insures your loan against default so Lenders are more willing to approve you.

To read the whole interview click here. You are encouraged to post question on our Blog to any of the participants. Also we welcome your suggestions for future interviews with "Pro's Who Know".

Enjoy...

Chris

For a second consecutive year, the Bullhead City / Mohave Valley Association of REALTORS® has successfully completed the Arizona REALTOR® Housing Needs Foundation (ARHNF) Habitat for Humanity Challenge. The ARHNF matches up to $5,000 in funds raised by local REALTOR® Associations to benefit Habitat for Humanity. The Bullhead City / Mohave Valley Association took on the Challenge in July of this past year, shortly after our local Habitat for Humanity Chapter was established.

Our Government Affairs Committee developed the "Buy a Stud" campaign, asking for donations of $5.00 to theoretically purchase a stud for a Habitat Home. Committee members dressed the part as they presented the campaign and requested donations at Member Mixers, Tour of Homes and Member Meetings throughout the summer.

Over 25 individuals and companies donated $100 or more and nearly $1000 was raised from the REALTOR® Golf Tournament organized by your Affiliate Council.

With the matching funds from ARHNF, the Bullhead Regional Habitat for Humanity was presented with a check for $11,114.75 at the groundbreaking last month. With the $10,000+ raised last year and over $11,000 this year, the Bullhead City / Mohave Valley Association of REALTORS® is the largest contributor to the Bullhead Regional Habitat for Humanity.

Thank you to the volunteers who helped to promote the campaign and THANK YOU to all who contributed! Please consider contributing to the Association's Habitat for Humanity fundraiser again this year

With almost a decade of real estate experience, I will take a stab at the current state of the real estate market.

First some simple economics: Supply and Demand. We all know there is plenty of supply. You turn on the news or open a newspaper and you are hit with reports of a flooded real estate market. This is a fact and I have to agree…

However, let us focus on demand for a second. Analysts say: “There are no buyers, therefore there is no demand”. Well, I have to respectfully disagree.

What are we talking about here? Demand for housing. Does everyone agree demand for rentals is a demand for housing? OK, I thought so. Reports of a strong and vibrant rental market are shoved to the back of most reports, if reported at all. If the demand for rental housing remains strong, could the problem lie elsewhere?

Most potential homebuyers are scared to apply for financing by fear of rejection. This is a human trait. The fear of rejection is nested deep in most of us. However, here are some facts on financing.

Financing is still available. Wow, what a shocker. In speaking with respected mortgage professionals, we found out that not really that much has changed. The traditional mortgage products are still available and FHA insured financing has been revamped to be what is was always intended to be…a subprime product. FHA insured financing allows a buyer to get in with very little to no money down.

Stay tuned for lots more information on the FHA product. We will be featuring an interview with mortgage professionals on our website soon. Some interesting updates will be clarified then, straight from the horse’s mouth…

Chris

Coming soon to our website "Local Experts Speak Up".

We are very excited to offer this new section to our visitors. On a regular schedule we will be interviewing local professionals related to the real estate industry. Lenders, Appraisers, Escrow Companies will all be featured soon.

In an effort to give you the broadest possible range of information we will also encourage these professionals to answer your questions that are posed through our Blog.

If you have any suggestions for topics you would like to see featured we would love to hear from you.

Have an awesome day and remember: "The market is good..."

Chris