Betsie Melter's Real Estate Blog

Realty ONE Group Opens New Office in Gilbert

Betsie Melter (Realty ONE Group) — Thu, 10 May 2012 10:44:17 -0700

Our new office is officially open! I have moved to the Gilbert location. We are located at Val Vista Dr. and the 202 Highway. The address is 3530 S. Val Vista Dr. #114 Gilbert, AZ 85297 and the office number is 480.321.8100.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Springfield Lakes-Chandler, Arizona Home Sales Update April 2012

Betsie Melter (Realty ONE Group) — Wed, 18 Apr 2012 10:47:25 -0700

Springfield Lakes is located in South Chandler at Riggs and Gilbert Roads. This lovely neighborhood features a Community Pool, Playground and Basketball Court and is located on the Popular Lone Tree Golf Course. The neighborhood has rebounded quite quickly from the wave of Foreclosures Chandler saw in the past 5 years. Currently, there are only 2 homes set for Foreclosure/Auction. That is pretty remarkable considering there are over 300 homes located in Springfield Lakes. My charts below show the sales in the past month. A few of those were short sales that had been in negotiations with the bank for months, so the prices seem low because they were priced before the market started increasing. If you look at the current homes that are "active" both are priced above $100 per sq. foot. That is something I haven't seen in awhile. Data provided in the charts are from the Arizona Regional MLS and are listed by various brokers.

If you would like more information about Springfield Lakes or any other neighborhood in Chandler, Arizona please contact me at 480.734.3644 or visit my website at www.betsiemelter.com

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Home for Rent in Gilbert, AZ

Betsie Melter (Realty ONE Group) — Thu, 12 Apr 2012 10:34:57 -0700

Single Level Home with 3 Bedrooms/ 2 Bathrooms Landscaped Private Backyard and 2 Car Garage for Rent for only $1300/Month. Located at Gilbert and Ray Roads. Contact Betsie Melter to schedule a Viewing.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Phoenix Real Estate Market Report April 2012

Betsie Melter (Realty ONE Group) — Thu, 05 Apr 2012 12:53:24 -0700

The Phoenix Real Estate Market is HOT HOT HOT! Listen to my Broker explain what is happening in our area.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Negative Inventory Supply for homes under $150,000 in AZ

Betsie Melter (Realty ONE Group) — Fri, 30 Mar 2012 14:08:57 -0700

Take a look at this chart indicating that homes priced less than $150,000 actually have a negative amount of inventory. We are selling them as soon as they hit the market! Thanks to Shannon at Grand Canyon Title for providing such a great piece of information.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Home Sales in Chandler- Springfield Lakes Neighborhood

Betsie Melter (Realty ONE Group) — Thu, 29 Mar 2012 10:15:30 -0700

Springfield Lakes located at Gilbert and Riggs Rd. in Chandler has seen enormous improvements in the last couple of months. Many homes have been able to sell through a traditional sale (meaning not a short sale or foreclosure). Because of the numerous traditional sales, our prices are holding steading and actually increasing.

As of today, March 29th 2012, we currently only have 2 homes on the market for sale. That's right, only 2! We have 4 homes pending and 5 homes that have closed in the last month.

As you may have heard, the inventory is very low and many houses are getting multiple offers. If you need to sell, please contact me for an analysis of your home, 480.734.3644.

Click Here to watch a video from Fox 10 News about the inventory and the price increases. Mike Orr, from The Cromford Report says that we have been increasing 1% per week!

The Above Chart shows just the East Valley for the last month. It is amazing how fast our market has changed!

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Ostrich Festival This Weekend in Chandler

Betsie Melter (Realty ONE Group) — Fri, 09 Mar 2012 12:14:02 -0800

The Birds are Back! The ostriches, that is. Chandler has it's annual Ostrich Festival every March and it starts today. Gates open at 2PM and will close at Midnight. Saturday's hours are 10am - Midnight and Sunday 10am - 11 PM.

The Ostrich Festival features Ostrich Races, Petting Zoo, Dock Dogs, A Monkey Show, Carnival Rides, Vendor Booths, Food Booths and of course Live Music. This year's Musical Talents include Tonic, Blue Oyster Cult and The Marshall Tucker Band.

If you haven't explored Chandler and The Ostrich Festival, I highly recommend it. It is a safe and clean environment with a small farm town feel. Fun for all ages.

For more information check out the website at http://www.ostrichfestival.com/

Discount Tickets can be purchased ahead of time at FRY'S and parking is $5.00.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

USDA Loans, Why Haven't I had buyers use this loan before?

Betsie Melter (Realty ONE Group) — Wed, 22 Feb 2012 14:21:04 -0800

I am starting a new journey. One with a buyer doing an USDA loan. USDA loans are loans that help buyers purchase a home in a rural area with 0% down and good interest rates. Now, you must be thinking, Rural, that isn't where I am living, but it actually covers a large area. I have attached the map below so you can see what areas are considered "Rural". 1st of all most, if not all, of Queen Creek is considered rural from - East of Power Road, South of Germann. All of the City of Maricopa and San Tan Valley are eligible. And on the West side of the Valley, anything west of 187th Ave is eligible.

The USDA Website says:

"Purpose: Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Eligibility: Applicants for direct loans from HCFP must have very low or low incomes. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. Click here to review area income limits for this program. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance, which are typically 24 percent of an applicant's income. However, payment subsidy is available to applicants to enhance repayment ability. Applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories.

Terms: Loans are for up to 33 years (38 for those with incomes below 60 percent of AMI and who cannot afford 33-year terms). The term is 30 years for manufactured homes. The promissory note interest rate is set by HCFP based on the Government’s cost of money. However, that interest rate is modified by payment assistance subsidy.

Standards: Under the Section 502 program, housing must be modest in size, design, and cost. Modest housing is property that is considered modest for the area, does not have market value in excess of the applicable area loan limit, and does not have certain prohibited features. Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards."

As far as writing an offer, it is pretty much like an FHA offer. You can ask for closing costs to be paid for by the seller, the house has to pass an appraisal similiar to FHA guidelines. Not much different on the agent's part for writing or accepting an USDA loan offer. The buyer will have to do up front work with the lender to make sure they qualify, but after they are approved, it is a pretty simple process.

Click Here to type in an address and it will tell if it is in an eligible area or not.

If you would like more information about buying a house with 0% Down Payment, contact me and we can see if you are eligible and if the subdivision you want to live in is also eligible.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Do's and Don'ts during the Loan Process

Betsie Melter (Realty ONE Group) — Mon, 16 Jan 2012 12:08:53 -0800

These of course, are just the basics. For more details about the loan process contact Amy Simmons with On Q Financial at 480.353.9140.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

New Trends in Decorating for 2012

Betsie Melter (Realty ONE Group) — Wed, 14 Dec 2011 11:24:06 -0800

What Will Be Hot in Home Interiors in 2012? On December 5, 2011, in Home Trends, by Melissa Tracey By Melissa Dittmann Tracey, REALTOR® Magazine The design forecasts are rolling in for the new year and the predictions of what’s going to be popular in interior decorating in 2012. According to Beasley & Henley Interior Design in Winter Park, Fla., here are some interior design trends to be on the lookout for in the upcoming year: Homes go gray: All shades of gray will be making up more households, from warm grey to charcoal gray, through furnishings, window treatments, and artwork. Yellow pops: Yellow can lift practically any room, according to Beasley & Henley Interior Design. Pairing yellow with gray can bring a trendy look to a home in 2012. Rustic: Furnishings from natural, reclaimed, and rustic wood are expected to catch on. “Finishes on these rustic pieces will range from wire-brushed to bleached oak to gray washes,” according to Beasley & Henley Interior Design. Repurposed lighting: Reclaimed pieces that are turned into lamps and lighting pieces is expected to continue its wave of popularity in 2012. The industrial look: The industrial look is also gaining traction, such as repurposed, industrial occasional tables or side carts. Lower seating: Chairs and sofas are sitting lower to the ground. More home furniture manufacturing companies are debuting lounge chair seating lower than the standard 20’’ off the floor. They’re introducing more products at 17-18’’ off the floor–possibly to fit in smaller homes. Oversized photography, such as in Sepia or computer-enhanced, will dominate the look of artwork in the coming year. Supersized artwork: Artwork continues to get bigger with oversized photography dressing up interiors with black and white, Sepia, or standard pictures.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Home for Rent in San Tan Valley, AZ only $850/Month

Betsie Melter (Realty ONE Group) — Mon, 07 Nov 2011 15:13:20 -0800

3 Bedroom/2Bathroom home within walking distance to the Elementary School and just minutes away from the new Ironwood Banner Hospital.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

October Events in East Valley - Phoenix, Arizona

Betsie Melter (Realty ONE Group) — Tue, 11 Oct 2011 14:20:00 -0700

My Favorite Event is at Schnepf Farms in Queen Creek. They offer a corn maze, pumpkin patch, train rides, pig races, food, carnival rides and this year a BMX show and Stunt Dog show. It is fun for all ages and a great time to get outside and enjoy the October AZ weather. We are finally under 100 degrees, so we better appreciate it! The corn maze this year is a picture of the owners parents Ray and Thora.

*picture provided by schnepf farm website

Tickets are on sale at the gate for $15.00 or at Fry's for only $12.00. Visit their website at http://schnepffarms.com/

If Haunted Houses are more your thing, you will want to check out The Nest located at Rawhide just west of the I-10 south of Ahwatukee. THE NEST haunted house, is rated #1 scariest haunt in America by MSN.

RUN: September 23 - October 31, 2011
Tickets available September 15 SPECIFIC DATES: September 23, 24 & 30
October 1, 7-9, 13-16, 20-23 & 27-31 HOURS: Thursdays and Sundays 7:00 PM - 10:00 PM Fridays and Saturdays 7:00 PM - 12:00 MID Halloween Night 7:00 PM - 12:00 MID PRICES: $25 General Admission (discounts online)
$40 VIP FastPass (discounts online) PARKING: $5 GROUP RATES: For groups of 10 or more discounts can be found online WEBSITE: www.Frightened.com

Happy Halloween to everyone!

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Rental Available in Chandler, AZ for only $1200/Month

Betsie Melter (Realty ONE Group) — Mon, 12 Sep 2011 15:57:32 -0700

13331 E. Cindy St. Chandler, AZ 85225

FOR RENT! $1200/Month

3 Bedrooms/2 Bathrooms, Split floorplan, Greatroom, Vaulted Ceilings, Breakfast Nook

Huge Yard with No Neighbors Behind

Close to Chandler Gilbert Community College and The 202!

Available Immediately

Click Here to see the Video of the House

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

New Trends with Short Sales

Betsie Melter (Realty ONE Group) — Thu, 08 Sep 2011 14:37:49 -0700

I finally closed on a short sale that we started with in April. Yay! What a journey this one was. It should have been a simple one - Only One Lender and no equity lines. But trends seem to be twisting and turning every time we finally get the negotiation process figured out. This one I wanted to mention because my negotiator said they are starting to see a lot of this. The bank had approved the purchase price and even approved paying for the buyer's closing costs. BUT, a week later as we were hounding them for the approval letter, they stated that they are requiring a contribution from the seller. WHAT?!?!

Now, I am not arguing that they want to try and get what they can from the sale of the house. I understand that. My problem is this:

1) Shouldn't they have asked for that upfront when we were negotiating the price and closing costs with the buyer? They could have mentioned that they wanted the seller to pay $3500. At that point we could have said for the bank not to pay the buyer's closing costs, which just so happen to be $3600. That would have balanced out. Or, we could have bumped the purchase price up by $3500. The buyer would have paid it, they were willing to go higher if need be.

2) Secondly, where do they come up with $3500? They are already losing over $150,000 so what makes $3500 ok? We eventually got them down to $2000 (of which only $1000 came from the seller and both agents pitched in the other $1000).

3) If it was a purchase money loan and no equity line, why did they want any money from the seller at all? In AZ we have an anti-deficiency law that says they can't come after the seller.

In this case all parties wanted to be done, so we did what we needed to do to close the sale, but in all honesty, I don't think the bank acted in line with standard protocol. Ha- I guess, I shouldn't have expected them to anyway. All banks act by their own laws and contracts anyway. I was just hoping the art of negotiation would be standard practice. Nobody throws in a wild card like that after it has been agreed upon. Not Cool!

From what my negotiator said, he is starting to see a lot of banks require the seller to contribute so I just wanted to let all short sale sellers and agents know to be aware that this might come up in the process.

Good Luck out there! It is a rough market that we seem to be maneuvering quite well by changing and adapting along the way.

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com

www.betsiemelter.com

Introducing the merger of John Hall and Realty ONE Group in AZ

Betsie Melter (Realty ONE Group) — Fri, 26 Aug 2011 16:30:11 -0700

John Hall is now Realty ONE Group

Two Acclaimed Realty Powerhouses to Become

One of the Largest Real Estate Firms in Arizona with 1,300 Agents

PHOENIX

(Aug 10, 2011) –

Realty ONE Group and John Hall & Associates announced today they will join forces

to become one of the largest real estate brokerages in Arizona. The combined firm will be known as Realty ONE

Group, reflecting the company’s focus on support and innovation. John Hall & Associates has been a leader in

Arizona real estate since 1974 and Realty ONE Group has been recognized by INC

500 for three consecutive years

as one of the fastest growing companies in America.

Jim Sexton, owner of John Hall & Associates since 1994, says “I’m excited about this marriage with a reputable and

innovative company.” Sexton adds, “Realty ONE Group has built a solid infrastructure, developed strong

educational programs, implemented an amazing supportive environment for their agents and staff, created a

proprietary paperless transaction management software, hired quality management, established prestigious offices,

and paid attention to detail throughout the organization while providing value to their agents.”

With more than 2,500 agents in Arizona, California, and Nevada, Realty ONE Group closed over 13,000

transactions in 2010, ranking as the nation’s thirteenth-largest real estate brokerage. This year the firm is on pace to

close nearly 16,000 transactions, which will elevate it to the top 10 in the nation.

“John Hall has an esteemed management team in place,” said Realty ONE Group CEO and Founder Kuba

Jewgieniew. “These are ambitious people and we are all going to shine together.”

Pat Kelly, the current designated broker, has been promoted to general manager to oversee all of Arizona operations

for Realty ONE Group. Says Jewgieniew, “His continued dedication to establishing our brand in the Arizona

marketplace and providing support to management and agents while growing the company to new heights has

exceeded all expectations over the past number of years. Pat is an over achiever who will continue to lead Realty

ONE Group into its bright future.”

Former owner Sexton will be now the designated broker of Realty ONE Group in Arizona, which Jewgieniew feels

is a natural role for him due to his stellar reputation, experience and knowledge.

Realty ONE Group has grown so quickly in large part due to its unique fee and commission structure. In direct

contrast to the traditional model where brokerages take a percentage of each commission, Realty ONE Group

instead charges a flat transaction fee and the agent keeps the remainder. "Our business model is based on attracting

quality real estate professionals and empowering them by offering more resources for less money," said Jewgieniew.

According to Jewgieniew, Realty ONE Group’s supportive environment extends to a management team that is more

available to their agents than at most large brokerages. “Quality attracts quality and Realty ONE Group has

established itself as a premiere organization for successful agents to affiliate with. While we embrace technology,

Realty ONE Group has real, physical offices that house knowledgeable managers who average more than 20 years

of experience.”

About Realty ONE Group

Realty ONE Group is a full-service real estate brokerage firm with over 2,500 associates, headquartered in Las

Vegas, Nevada, with offices in Arizona and California. It focuses on providing ethical, professional and resultsoriented

services to property owners and prospective real estate buyers. Since its inception in 2005, the company has

grown to become the largest real estate brokerage in Nevada and the fastest growing real estate company in Arizona

and California.

For more information, visit

www.RealtyOneGroup.com

Betsie Melter, REALTOR, GRI, ABR

Realty ONE Group

3530 S. Val Vista Dr. #114 Gilbert, AZ 85297

480.734.3644

realtorbetsie@gmail.com