Bank owned property needs a new owner. Diving pool. Energy efficient A/C updated in 2005. New roof 2006. Workshop with extra storage. Large backyard, mature citrus in front and back, GE refrigerator. Sunken living room, formal dining room, family room w/fireplace, twin sinks in both baths, ceiling fans in all bedrooms and family room. Close to shopping, freeways, schools and ASU. Move in ready. One of the few REOs that shows pride of ownership.
Tempe Foreclosure Listing – 1849 E Magdalena Dr
Foreclosure Step 1 – Cash for Keys
So I’ve got a new listing. It’s not ready to go on the market yet. Many things need to occur from trustee sale (the foreclosure action in the state of Arizona) until actual marketing. The first thing I needed to do was inspect the property from the outside to verify its occupancy status. If the property is vacant, I arrange for the property to be secured by changing all the locks on the property. If it is still occupied, I need to approach the occupant. Sometimes it’s occupied by renters, and other times, it will be the owner. When I approach the occupant, we go over a “cash for keys” contract. Essentially, they agree to leave the premises in clean condition by a specified date. If they perform their end of the contract, they get the cash amount they were offered for leaving. In addition to offering cash for keys, we investigate how far behind the owner was on HOA and gather property tax information.
This is all so exciting, isn’t it! I imagine this is akin to the magician exposing the tricks of the trade. Anyway, my goal is to inform you, the consumer. Stay tuned for more information!
New Tempe Foreclosure Listing
My friends, I just got my first foreclosure listing in Tempe. I’ve had multiple bank listings in Phoenix, Mesa, and even as far as Sun City, but this is my first Tempe foreclosure listing. I thought this would be an excellent opportunity to allow my loyal readers to see what it’s like in dealing with an REO property. I will go through all the steps in a multi-post series. The topics will include:
- Cash for keys
- Securing the property
- Listing/Marketing
- Negotiations
- and more!
Stay tuned!
Got HD Camera?
I’m not bragging, I want to share mine. Videos are all the rage these days, and I want to put your listing on Youtube in HD. Need to think about it some more? Check out this online advertising I did for an investor of mine.
Looks great, right? So on top of all my other great services, I now want to empower you further with videos that you can share with your friends and family.
Tempe Neighborhoods Section
In my ultimate desire to give you all the information you can handle, I’ve added a neighborhoods section. I’ve started it with two of the most popular subdivisions in Tempe, Marlborough Park and The Lakes. If you have any that you would like to know more about, please let me know in the comment section.
Cheers
2920292 Carmel Update
Arizona MLS stands up to the Man
Congratulations to all of us who voiced our concerns regarding NAR’s decision to support MIBOR’s pathetic claim that Google is a site scraper. For those of you just tuning in, an Indianopolis board ruled that we as Realtors had to do our best to restrict Google from finding your property on a traditional search. For example, if you listed your home with me, I had to prevent anybody from finding your home on the internet. Thankfully, we were able to explain to the ARMLS how dumb of an idea this is, and that the decision only serves to harm our customers, not help. Here is their press release:
Arizona MLS Takes Stand on “Scraping” and “Indexing”
RECENT NAR INTERPRETATION CREATES COMPETITVE DISADVANTAGE FOR REALTORS®
PHOENIX, AZ – JUNE 10, 2009 – The Arizona Regional Multiple Listing Service (ARMLS) is taking a stand on a recent National Association of REALTORS® (NAR) ruling on the technical interchangeability of “scraping” and “indexing” as it pertains to display of the IDX Database on the Internet. A recent controversial interpretation issued through the Center for Real Estate Technology (CRT), NAR’s technology arm, advised members that “scraping” and “indexing” are in effect the same practice and represent misappropriation of the IDX Database. ARMLS believes that this ruling places NAR members at a distinct and serious competitive disadvantage.
ARMLS maintains that the CRT opinion does not factor in the end use of the “scraped” and “indexed” listing data. It fails to distinguish between benign and malicious “scraping” and “indexing.” These practices are termed benign if they provide intended benefits to the consumer and the buyers and sellers whom the REALTOR® serves, and are not in conflict with the ARMLS IDX Policy. They are deemed malicious if they utilize the listing data in a manner foreign to the original intent of the REALTOR® and the property owner, and are incompatible with the ARMLS IDX Policy. The practice of “scraping” or “indexing” by search engines for the purpose of displaying or indexing the data for consumer property search, and which ultimately directs the consumer back to its source, is benign, and is in sync with the REALTOR’S® intention when displaying listings on the Internet. When a third party, e.g. a search engine, through “scraping” or “indexing” misappropriates and uses the listing data for purposes not intended by the property owner or REALTOR® , these practices become malicious and should be prohibited. Any interpretation by NAR prohibiting REALTORS® from allowing search engines, such as Google, from benign “scraping” and “indexing” listing data puts the REALTOR® at a distinct competitive disadvantage.
The ARMLS IDX Policy contains the statement that “IDX Brokers must protect the IDX Database from misappropriation by employing reasonable efforts to monitor and prevent “scraping” or other unauthorized accessing, reproduction or use of the IDX Database.” The interpretation of this policy was not intended to discourage dissemination of listing information through search engine indexing or to discourage brokers or their permitted licensees who offer listings from optimizing their listings to achieve higher search engine placement. ARMLS supports and encourages a change in NAR’s interpretation of “scraping” and “indexing” that factors in the results of such activities and removes any competitive disadvantage that NAR’s current opinion creates.
Home Sales Approaching Summer of 2005
Another crazy month has just gone by here in Phoenix metro, and all we hear in the news is “The market is showing signs of picking up.” Oh well, instead of harping on the news media, let’s celebrate the fact that our market has completely turned around! Last month, 8,176 homes exchanged hands. This is almost twice as many homes sold than May of last year, and more than three times the valley that was January, 2008.

History of Homes Sold in Phoenix
So why has this happened? Obviously, the mood in the market has certainly turned around. Without the constant bombardment that our economy will collapse, the resilient American people are ready to buy again. Home prices are also approaching historic levels, and many people are starting to see that buying a house is less expensive than renting! We are still seeing the true investors buying properties as well. Of all the homes sold last month, 3113 were bought in cash. That’s almost 2 out of every 5! So the next time somebody tells you that the market is slow, just smile and nod because you are now armed with valuable knowledge and are months ahead in the real estate world.





