Have a Vacant Home? Every Penny Counts!

With thousands of single family homes for sale and currently vacant – You need an edge as a seller. You can’t afford to be just another vacant home on the block. Your home may be vacant due to downsizing, divorce, foreclosure, death, loss of job, moving out of state and so much more. Many homeowners don’t know where to turn in this sudden and unknown situation. There is help; it’s called “Home Management”. Here’s how it works.

A professional “Home Manager” occupies your vacant home until sold. Home Managers are similar to house sitters and basically “house sit” your home when you no longer occupy it yourself. They are not renters. You may not want to have a long term lease or deal with tenant issues. Home Managers bring in their own furniture (so there is no added staging cost). They are often professionals in transition themselves, who are looking to buy a home in the near future. The Home Manager understands the home is for sale and maintains the home “show ready” at all times and agrees to move once the home is sold.

This really is so helpful to the homeowner since the monthly costs can mount because many homes in today’s market are for sale for months, if not longer. Often we forget the monthly “holding costs” such as electricity, water, gas, pool, yard maintenance and sometimes HOA dues. These costs can add up and take away from the homeowner’s profit! You do not want to take “one penny” away from your bottom line. With the glut of homes on the market today and tightening of mortgage qualifications homes can sit for longer than desired.

We all know a vacant home does not show well, and gives the impression of being distressed which brings in low ball offers. Also thieves and vandals are attracted to a vacant residence. A small water leak or other maintenance issues may be missed and escalate because your property is no longer being maintained and no one is present to catch problems when they arise. This added stress is not what you need when you want to sell your home. Another issue to consider is the insurance coverage on the home. When you move out, your homeowner’s policy may no longer cover the vacant home.

Statistics show that an occupied home sells up to 30% faster and usually brings 7-10% more money at closing. Your home is your castle and you deserve to reap the rewards by having your home cared for as if you were still present. Don’t abandon your valuable asset!

Realtors and homeowners need an edge and they realize every penny lost is a deduction from the bottom line. An occupied home with a professional Home Manager is a perfect answer to today’s real estate market as well as helping to reduce these costs.

Arizona Vacant Home Solutions LLC is a local company offering these services in the greater Phoenix metropolitan area. This company is owned and operated by two entrepreneurial women who understand the needs of their community. Arizona Vacant Home Solutions provides peace of mind in these difficult times. Ask how you can receive this incredible service at no charge!

602-456-9020 info@AzVacantHomeSolutions.com

Top 5 Conditions Found in Vacant & Foreclosure Properties

To help today's home buyers take advantage of historically low home prices and interest rates, HouseMaster, one of the most respected names in home inspections, has identified the top five conditions most likely to be encountered when buying foreclosed or vacant homes.


1. Moisture Problems: When a house is closed up, the climate is humid (monsoon season!), or there are ongoing water leakage issues visible, mold is commonly found - and has the potential to be extensive. When a home is closed up, it exacerbates the condition, creating a high humidity environment in which mold thrives. HouseMaster inspectors have seen homes covered in black mold after just a few weeks, but these problems can be prevented and eliminated through proper clean up and ventilation.

2. Defective, Leaky Gaskets, Valves, and Hoses: It's common for home inspectors to find leaking valves, gaskets, and appliances in homes that have been foreclosed or vacant for an extended period. No matter how big or small, every appliance or plumbing fixture in a home includes at least one valve, gasket, and/or hose which can dry out - creating gaps and leakages. Freeze damage can cause a burst pipe (yes, it can freeze in Arizona!), damaged valve, or gushing water. Even a minor leak can cause consequential water damage and/or mold.

3. Vandalism: Vacant homes may be subject to damage from vandals or thieves looking to steal anything of possible resale value. HouseMaster inspectors have found homes stripped of everything from kitchen cabinetry to plumbing, wiring, and even structural elements. Usually these items are removed without consideration for safety or consequential damage. This often results in a reduced price for the home.

4. Unwelcome Guests: Overgrown vegetation, broken windows, scattered debris, and water leakages are an invitation to many unwelcome guests such as insects, rodents, and cats. Whether these vermin are present for a short or long period, they can cause damage and create secondary problems such as an unsanitary buildup of droppings, fleas, and/or other health concerns.

5. Blocked or Damaged Waste and Sewer Line: Issues with house drains, and waste and sewer lines are also not uncommon. Deliberately blocked lines may result in overflow damage (juvenile delinquents breaking into a home can do this!), an inconvenience that could be costly to repair. In other cases, the normal buildup of waste products in the lines will harden and contribute to flow restriction or blockage. Even minor leakages can cause soil to dry out in the wrong area, which can contribute to pipe movement and damage. Buyers of vacant homes may want to consider sewer line or drainage pipe inspections to assess potential issues.

Thank-you for this information HouseMasters! They can be reached valleywide in Arizona at (480)345-8570.

Solve these vacant home issues by placing a pre-screened and qualified Home Manager in any vacant homes you have listed in Arizona. The service is FREE and the issues that are avoided may be tremendous! info@AzVacantHomeSolutions.com

Are Rising Home Prices a sign of Recovery?

House prices rose 1.4% in June 2009 following a 0.5% increase in May as the Standard & Poor's/Case-Shiller 20 city house price index registered it's first consecutive monthly increase in over three years. " For the second month in a row we're seeing some positive signs", said David Blitzer, chairman of S & P's index committee. Only 2 cities, Detroit and Las Vegas, in the 20 city HPI experienced price declines from May through June. If you look only at these narrow statistics to base an opinion, like is frequently portrayed by the main stream media, you might think the housing market has hit bottom and the recession is at an end. Is this 2 month price rise really a sign of recovery?

Yale University professor Robert Shiller cautions that it may not be a turning point due to high unemployment and the large inventories of foreclosed homes weighing on the market. Despite the upward momentum in house prices,"I would express great reluctance in forcasting where we are going from here, because we have conflicting signals right now", Mr. Shiller said.

Atlanta Fed Cheif Dennis Lockhart expressed his opinion that the July 2009 jobless statistic of 9.4% nationwide would move closer to 16% "if one considers the people who would like a job but have stopped looking - and those who are working fewer hours than they want". The employment environment is not showing signs of improvement yet.

Keep in mind that the June Home Price Index shows that house prices are down 15.4% from one year ago and down 30.2% from their peak in the second quarter of 2006. But, Freddie Mac reported that the percentage of loans 90 days or more past due and in foreclosure rose to 2.95% in July 2009, up from 1.01% a year ago. We have to take a look at the price range of homes going into foreclosure and who the buyers of these homes are.

Subprime mortgages have been leading the default surge since early 2007. Their prices, mostly REO properties, have dropped so significantly that investors with cash have started buying them up because they will cash flow as a rental, even if prices continue to decline. They can get a rental return of $500-700/month on a home that only cost them $35,000. That's a better return than most stocks, CD's or other paper assets. But is this up tick in purchasing really a sign that the housing market is improving? What about the Prime Loan market and Jumbo Loans? Since February 2009, default and foreclosure rates on option ARMs have passed those of subprime mortgages, according to the research firm First American Corelogic. Many option ARMs are not eligible for refinancing and because they tend to have higher balances, compared to subprime loans, resets often double the payments. First American Corelogic anticipates 600,000 option ARMs will reset in the next four years and Diana Olick of CNBC believes it will be even higher, at over a million. What impact do you think this will have on the prices of homes overall when higher priced properties going into default are increasing and financing of jumbo loans is still extremely difficult to get?

Don't let a couple of months of home price increases fool you in to believing that the housing crisis is over and recovery is on the way, at least not yet. There are still several factors that would indicate otherwise.

If you have a home to sell and you have it on the market VACANT, Arizona Vacant Home Solutions offers a FREE service that will give you the edge you need to sell more quickly, and bring a higher price at closing, in this competitive market. Read about it on: http://azvacanthomesolutions.com/ than contact us to discuss what we can do for you.

Unbelievably valuable site for everyone - you should keep on hand. Contains useful information on economics, social indicators, household units, density, marital status, household income, occupation, unemployment, poverty, demographics, race, age and more.....
Investigate your potential home location before purchasing, renting, or investing...

http://zipskinny.com/

Try out a neighborhood before purchase a home. Preview our site to see if you qualify as a home manager.

Mortgage Firms to Step Up Loan Modifications

In a letter to 25 loan processing firms, Timothy Geithner, the Treasury Secretary, and Urban Development Secretary, Shaun Donovan, have urged the firms to modify more home loans. Analysts say the Obama administration's loan modification program has not done enough to stem the rising tide of foreclosures so far. The program's effectiveness has been hampered by mortgage firms not being able to keep pace with the applications received for loan modifications. " We believe there is a general need for servicers to devote substantially more resources to this program for it to fully succeed and achieve the objectives we all share," wrote Geithner and Donovan in their letter.



The administration exhorted the firms to provide "an escalation path for borrowers dissatisfied with the service they have received" and suggest ways of improving the design of the program. Industry experts have been disappointed with the pace of the program so far. "We are not getting anywhere near the level of resolutions we expected," says Bruce Dorpalen, national director at Acorn Housing Corp. Housing councelors say there is a need to raise homeowners' awareness of the program. "Homeowners on their own are not able to navigate the system," says Maeve Elise Brown, executive director of Housing and Economic Rights Advocates.



AZ Vacant Home Solutions can assist homeowners in finding a company that can get the loan modification completed successfully, in most cases, when the homeowner has not been able to make any progress on their own. Get information on this topic by requesting it at info@azvacanthomesolutions.com



If your home is not selling as fast as you'd like and you need to move due to job relocation or other reasons, they can provide a home manager to stage the home and give it an edge in this difficult real estate market. Staged and occupied homes are proven to sell faster and often bring a higher sale price than a 'cold and vacant' home. Find out more about the company at http://azvacanthomesolutions.com/

The State of the Nation's Housing

Despite the current slump, the long-term prospects for the housing industry are not bleak, according to "The State of the Nation's Housing 2009" report, released by Harvard University's Joint Center for Housing Studies (JCHS). The report details factors such as unemployment and the credit crisis leading to problems in the sector. Home equity is positively correlated with consumer spending, and plunging home values have pulled down consumer spending and economic growth in the last couple of years. Analyst say that the current recession provides a painful but much needed correction to the housing market.

So, what does the future hold? The so-called echo boomers, who are the children of the baby boomers, will be a big source of housing demand in the next year and beyond, according to the report. "Echo boomers are larger than the baby boomer population. Couple that with immigration and you have the seeds, the possibility of a housing recovery", said Nicolas Retsinas, director of JCHS. The report states that minorities will drive 73% of of household growth in 2010-2020, with Hispanics leading the way at 36%. Given the lower average incomes and wealth of minorities, the increase in minority households "could add significantly to the nations already widespread housing affordability challenges, according to the report.

What does this mean if you have a home to sell that is in the mid to upper price range, say $300k and up? Although the media reports may start to show an increase in home sales, the majority will still be lower priced homes. That means it will be more important than ever to have an "edge" when your home is competing for less buyers in the higher price brackets.

Using a Home Manager to stage and maintain your home in 'model home condition' will help your home show better and, statistically, these homes sell faster than homes with renters or vacant homes. They also tend to close for a higher price than their vacant competitors.