Real Estate Information Archive


Displaying blog entries 11-17 of 17

REMAX CEO - Margaret Kelly speaks about housing market

by Nate Martinez

Did you know?

by Nate Martinez

Did you know that Professional Financial Services of Arizona is now an approved HomePath Mortgage provider? HomePath Financing Program is only available on select Fannie Mae owned properties. The loan guidelines include a minimum of 3% down payment for a primary residence with NO appraisal requirement. In addition, sellers may contribute more to the borrower’s closing costs than what is allowable by the FHA/VA guidelines.

HomePath Renovation Loans are also available for properties that require light to moderate renovation, up to 35% of the completed value. If you are an investor, HomePath can provide a loan with as little as 10% down payment.

HomePath Mortgage offers the borrower:

  • 3% down payment can be funded by the borrower’s own savings, a gift, a grant or a loan from a nonprofit organization, state or local government or employer.
  • Flexible mortgage terms include fixed-rate, adjustable rate or interest-only.
  • No appraisal required
  • No mortgage insurance
  • Available for primary residences, second home and investors

To learn more about this program or to qualify with one of our on site Loan Consultants, please visit my website at

The Thank You Economy

by Nate Martinez

The Thank You Economy, written by Gary Vaynerchuk, explains the rapid changes happening in social media and how it will impact the way we do business, shop and find services. Check out this video and see for yourself!

Visit for breaking news, world news, and news about the economy

What is "MARS"?

by Nate Martinez

What is MARS?

By now, some of you may have heard about the Mortgage Assistance Relief Services (MARS). But what does it really mean and how does it impact you in the real world? Well an article written by AAR General Counsel, Michelle Lind explains it all. "The Federal Trade Commission (“FTC”) Mortgage Assistance Relief Services (“MARS”) Rule applies to any person that provides, offers to provide, or arranges for others to provide, any “mortgage assistance relief service.” A “mortgage assistance relief service” includes any service, plan, or program, offered or provided in exchange for consideration to assist or attempt to assist the consumer with negotiating, obtaining or arranging a short sale. Thus, despite initial uncertainty about this issue, it is now clear that a broker negotiating a short sale with a lender on behalf of the seller must comply with the MARS Rule."

What does that mean to you as a homeowner? Well now, more than ever before, it is important to hire a CDPE designated Realtor to assist with the short sale process. There are plenty of unscrupulously companies out there that are or have taken advantage of homeowners desperate for help. Don't be a victim to anyone offering to negotiate your short sale for an upfront fee! If you know someone who is facing foreclosure, call me so I can tell you about the options available.

For a complete copy of the MARS guidelines you can visit the Arizona Department of Real Estate's website at


How do I know if I qualify?

by Nate Martinez

How do I know if I qualify for a short sale?

The qualifications for a short sale include any or all of the following:

1.) Financial Hardship: there is a situation causing you to have trouble affording your mortgage.
2.) Monthly Income Shortfall:  in other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3.) Insolvency: the lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

It is understandable to have questions when coping with a new and challenging situation, especially when a home is at stake. The reality is that millions of homeowners across the country are finding out that they have more questions than answers. As a Certified Distressed Property Expert (CDPE), I have the knowledge and experience to help you. Call me today to learn more about your options.

Find out if you may be eligible

by Nate Martinez

The Making Home Affordable (MHA) Program is a critical part of the Obama Administration's broad strategy to help homeowners avoid foreclosure, stabilize the country's housing market, and improve the nation's economy.

Homeowners can lower their monthly mortgage payments and get into more stable loans at today's low rates. And for those homeowners for whom homeownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure. Additionally, in an effort to be responsive to the needs of today's homeowners, there are also options for unemployed homeowners and homeowners who owe more than their homes are worth.

Use the self-assessment tools provided online to see if you may be able to benefit from Making Home Affordable.

Click Here to explosure your eligibility now.

REALTY STUDIES from ASU W.P. Carey School of Business

by Nate Martinez

REALTY STUDIES from ASU W.P. Carey School of Business

With the advent of a new year, there is always the hope that the troubled times will end. In the last few months of 2010, foreclosures represented only 30 percent of the recordings due to various moratoriums and legal issues. Unfortunately, the resale data for January 2011 shows a reemergence of the trouble times with 43 percent (3,620 transactions) of the 8,325 total recorded sales being foreclosures.

The main question for the coming months is whether the January surge in foreclosure activity is a temporary response in unclogging the pipeline after the moratoriums and or a continuation of a market being dominated by foreclosures. The year ended in the midst of an unusual set of influences including foreclosure moratoriums, legal challenges to the foreclosure process, weak economic and job (income) recovery and stricter underwriting guidelines. In confronting potential uncertainty, the level of activity and prices could even be lower than generally expected as people await the review and resolution of the problems associated with the foreclosure process.

Foreclosure activity, as percentage of the total resale market in January 2011, varied throughout the Valley such as 52 percent in El Mirage, 42 percent in Surprise, 46 percent in Maryvale, 38 percent in Chandler and 29 percent in Scottsdale. Another component of the market was the sale of previously foreclosed property, which accounted for approximately 40 percent of the traditional transactions in January (4,705 sales). Due to concerns about the foreclosure process, foreclosure–related activity represented 66 percent of the recorded activity for the month, but 63 percent in 2010.

Beyond the impact of foreclosure activity, the absence of a strong move-up market, which is fundamental to a housing recovery, will also limit any growth in home prices. While lower prices can greatly improve affordability, they can adversely impact many owners and potential sellers whom are watching their limited equity erode, as prices decline to and even below existing debt level. The median price for the traditional market in January was $125,000, which is the same as December 2010, but down from last year’s $136,500. The foreclosed properties in January had a median price of $143,580 in contrast to $141,700 for December and $152,935,000 for a year ago.

Housing prices are being influenced by foreclosure-related activity. Even with all of the foreclosure issues, expensive homes continued to be foreclosed, with 12 being over $1 million in January. Another influence is that, for the last year, approximately 40 percent of the traditional sales were foreclosed homes that were sold again with a median price markdown of 14 percent from the foreclosed price. Although the markdown has improved from 25 percent a year ago, it does vary throughout the Valley ranging from 44 percent in Maryvale to 14 percent in Peoria to 8 percent in the Gilbert area.

Since the Greater Phoenix area is so large, the median price can range significantly. For January 2011 in North Scottsdale, the median price for a foreclosed property was $365,250 ($374,775 in December) while the traditional market was $421,000 ($401,000 in December). In South Scottsdale the splits were $148,500 ($159,000 in December) and $163,500 ($166,500 in December), respectively.

In Maryvale, traditional transactions were $46,000 ($43,000 in December) and foreclosures were $76,005 ($61,500 in December), while in Union Hills it was $156,600 ($156,500 in December) and $170,500 ($179,870 in December), respectively. For January 2011, Paradise Valley had a median square footage of 4,750 and a median price of $1,237,500.

Within the 1,320 total recorded sales for January 2011, the townhouse/condominium market had 520 foreclosed properties. For a year ago, there were 1,150 total transactions with 495 being foreclosures. In January 2011, the median price for foreclosed properties was $99,460 while the traditional market stood at $76,000. Last year, the splits were $105,920 and $95,000, respectively.

The median square footage for a single-family home recorded as foreclosed in January 2011 was 1,680 square feet (1,685 for a year ago), while it was 1,805 square feet (1,785 for a year ago) for a market transaction home. In the townhouse/condominium sector, the median square footage for a foreclosed unit was 1,050 square feet (1,040 for a year ago), while the traditional market units was 1,145 square feet (1,135 for a year ago).

Displaying blog entries 11-17 of 17




Contact Information

Photo of Nate Martinez Real Estate
Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
Fax: 602-532-7352

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