I usually scan the news throughout the day -- isn't the internet wonderful! Of course, much of what catches my eye relates to real estate. I follow a variety of sources on the net, including posts by other bloggers, and subscribe to several real estate news services that send me notices by email. Today, I found several things of interest:
The Federal Trade Commission filed suit in California to crackdown on loan-modification scammers. This has been coming for quite a while and I've posted about the problem before. If you're in trouble with your mortgage payments, please don't pay some purported rescue firm an upfront fee to fix it for you. See a legitimate mortgage broker about refinance, contact a knowlegable Realtor® about selling your home as a short-sale, or use some of the services listed in my last post on this topic: Don't Be Scammed by "Mortgage Modifiers." In Flagstaff you can seek assistance from Bothands and the City of Flagstaff’s Housing Stability Program. You can also call Neighborworks at 888-995-HOPE for referral to a legitimate mortgage counselor. Read the New York Times article about the lawsuit here: Subprime Brokers Back as Dubious Loan Fixers.
The National Association of Realtors® trumpeted the decline in housing inventory as another reason folks should Buy Now! Housing Experts: Now Is a Perfect Time to Buy.
Flagstaff foreclosures dominated the foreclosures completed in Coconino County last week, including a trustee sale of a Pine Canyon property: Flagstaff and Coconino County Foreclosures Completed Last Week. Many more Flagstaff foreclosures are are scheduled for this week: Foreclosure Sales Scheduled in Flagstaff July 20-24 - How Many Will Go? The Arizona Daily Sun is running an interesting series of human interest stories on foreclosures and distressed properties in Flagstaff. Today's article talked about a fireman who got a real deal: Buying from bank requires patience, luck.
While researching a particular distressed property in Flagstaff, I came across an article about home auctions. This is what banks do with those properties they have foreclosed upon that they can't sell quickly enough in MLS. Then, when the auction doesn't work, they come back to MLS. Do Your Homework Before Home Auctions.
At least one Flagstaff development has been successful at reducing its inventory. The Villages at University Heights apartment-to-condo conversion is down to 18 remaining units out of the 220 or so they started with in 2006. Right now, they are advertising “close-out pricing,” buyer incentives like $5000 contributions to closing costs or upgrades. Use their preferred lenders and get a discount if you close and “$500 for trying” if you don’t. I’m not sure how that last incentive works, but I’ll surely find out for you if you are interested in one of these units. I’ve been a fan of the Villages at University Heights since they began, and own one myself as an investment. Call me if you'd like to buy one of the last 18 available -- I'm represent you.
In between all of this reading the news, I wrote an offer (which got accepted later in the day), talked with several clients, previewed a potential listing, talked with several Flagstaff agents (and emailed several more), and showed two homes. (I really do more than blog and read the news, really!)
Now, it's time to close up, so I'll be fresh to absorb tomorrow's real estate news and sell some Flagstaff real estate! Give me a call tomorrow if you want to buy or sell a Flagstaff home. | 
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