Thanks for checking in with us. We are still here,  surviving the 115 degree weather in Phoenix and Scottsdale. Though, we have nothing to complain about as our best wishes are to those who suffered the worst of hurricane Irene.

Along with the sharp rebound in the stock market over the last 2 weeks, after that nerve-testing dramatic sell-off, we received some very welcome and positive news regarding real estate prices across the country and hear in our backyard of greater Phoenix, Scottsdale, Chandler, etc…..

Today, Standards and Poors released their Case-Shiller price index for the 20 major cities in the United States which measured a price increase of 3.6% for the second quarter of 2011. This is extremely positive news for the national housing market, consumer confidence and the overall economy.

Here in Phoenix we are seeing a sharp increase in sales activity and a major decrease in the real estate inventory.  Today, according to the real- estate publication the Cromford Report, listings in metro Phoenix are at 27,400 and falling – traditionally, a sure sign of rising demand and rising prices to follow.

We are seeing multiple-offer situations on the best houses. Prices are still near 50% of the peak in 2006, long-term mortage rates are near record lows under 4.5% and inventory is shrinking. These are all (near) sure signs that the housing recession is over. Now, I am not saying that prices are going to skyrocket in the short-term; however, I am stating that the worst is in the rear-view mirror.

If you have questions or want to discuss Phoenix homes for sale or learn more about bank owned homes in Scottsdale, please call me directly at 480.221.8080.

James Wexler , Associate  Broker, Realty Execs , 480-221-8080  : wexzilla@gmail.com

Greetings and welcome to wexzilla.com, the areas leading real estate website and place to search for Phoenix area homes for sale.

If you are going to buy real estate, there are many decisions. However, arguably the biggest factor is in what city to make your home? How does one make arrive at that conclusion? Weather, schools, churches, synagogues, friends, family and jobs to name a few. However, what about amenities? Nightlife? restaurants? Golf? bars , arts and entertainment? Are these important? And combine all of the ingredients into a recipe and measure the dish in relation to the cost of living and most importantly the cost of real estate and you will arrive at the right decision.

I have lived in Boston, New York, Los Angeles (Santa Monica to be exact) and Scottsdale. Since, I live here now and work in Scottsdale real estate, you probably know my first, second and third choice. Scottsdale, Tempe and Phoenix (in no particular order). There are great homes at affordable prices (down more than 50% from 2006) to buy in these  towns, great restaurants, shopping malls and opportunities to work.

One national magazine recently published and article stating ‘Tempe, Scottsdale named among top of America’s most fun, affordable cities to live‘  According to the article,

Arizona has two of the top four cities when it comes to fun and affordability.

A report on Bloomberg Businessweek has the Arizona cities ranked third and fourth in their top 25 fun and affordable cities in America.

Tempe, ranked third, is home to Arizona State University, has nightlife up and down Mill Avenue, and is not all that expensive. The total number of bars and restaurants is near 265. The median home price is just under $120,000. “It’s got opportunities for people to live in some of the finest mansions one can find but also some of the most solid, modestly priced neighborhoods in the state,” Tempe Mayor Hugh Hallman said.  The nightlife includes swing, jazz, rock-n-roll, breweries and sports bars. Its next door neighbor, Scottsdale, gets the No. 4 ranking.

This report was based on housing prices in relationship to amenities. Bottom line, if you want a great place to live and enjoy life, than Scottsdale , Tempe and the surrounding towns of Phoenix is likely the best value money can buy.

Please contact me today so I can answer any questions you may have about Scottsdale real estate or Phoenix homes for sale.

James Wexler ~ Associate Broker ~ Realty Execs ~ 480-221-8080

Buying a new home is exciting and nerve-racking.  You have the opportunity to finally purchase the home of your dreams, but might be worried about the economy and financial situations.  Many people bought homes several years ago at historically high prices, and now they are defaulting on their payments and many face foreclosure.  How can you make sure that you don’t fall into this pitfall as well?  It is impossible what will happen in the future, but there are several ways that you can purchase a home now and still be able to afford it in the future should something drastic happen.  One of the best things that current homeowners can do to stay in their homes is to refinance.

A conventional refinance is a process that homeowners can undergo that restructures their home loan.  Homeowners will typically refinance their mortgage if there has been a decline in the economy and if they are paying a higher price for their home than it is worth, or if they are paying higher interest rates than are the industry norm.  By lowering the monthly interest rate, homeowners can potentially save themselves thousands of dollars over the life of their loan.  Even a decrease in interest of half a percentage can save a homeowner significant amounts of money over the term of their loan.

A conventional refinance is a simple way to restructure a home loan and save money.  Just like a standard home loan, there are closing and broker fees involved which must be paid at the time that the refinance is closed and put into effect.  Homeowners must work with a licensed lender and must apply and qualify for the refinance in order to be considered.  It is much easier to qualify for a refinance in a down economy like the one we are currently in.

If you are interested in a conventional refinance, click on the following link about conventional refinance in Phoenix : —–

Please call me today to discuss buying foreclosures in Scottsdale

James Wexler  | Associate Broker | 480-221-8080

James@wexzilla.com

The Scottsdale Real Estate market has been as hot as the weather. Prices are up (though, ever so slightly), but sales are way up and competition is at a frenzy for the best properties. A Scottsdale single family home for sale just listed as an REO (lender-owned) last Friday for $175,000 had 11 offers at the bank on Monday morning. My client offered $185,000 and still did not get his offer accepted.

Due to this demand, the new home sales market is tarting to become attractive. Many of the local builders have been able to sell off model homes, spec builds and the inventory of short-sales & bank owned real estate in their communities is continuing to wither away.

As a result, builders are starting to make available and release premium lots for new home buyers to build upon. Yes, you will pay a fee for a premium lot, but these costs are down. Fees that used to be more than $50K (or more!) are now $25K or less. In fact, with some aggressive negotiating, you might be able to get this fee waived.

One of the best large-scale builders in Scottsdale (they do build new homes in Phoenix and its many surrounding cities) is Toll Brothers. Toll Brothers upscale community in North Scottsdale is called Windgate Ranch which is just south of DC Ranch and east of Grawyhawk.  Foremost, there are only 3 days left for their National Dream Home Sales Event which they are offering a variety of incentives, favorable financing options and aggressive pricing on almost every floor plan. If you do miss the July 31st close-out date of the Windage Ranch sales event, I encourage you to speak with a sales professional at the model homes, they will likely work something out to get you in a home at a price beneficial to you. I also know the staff well, so if you call me, I may very well be able to get you some of the sales events options, upgrades, terms, etc… on into August.

Although, Toll Brothers at Windgate Ranch has not ‘officially’ released them yet, I have it on good information that there are some premium lots coming up for sale; some of these are facing south/west (city lights and sunsets) and north/esat (McDowell Mountains view lots) that both of which back to Desert Wash so you will have no neighbors directly behind you. If you are thinking about building a home from scratch, this is the opportunity you have been waiting for.

Call me today, so that I can negotiate the sale of your Toll Brothers home in Windgate Ranch on a premium lot at the distressed sale price.

I look forward to speaking with you.

James Wexler, Associate Broker, Realty Execs , 480-221-8080

Windgate Ranch Scottsdale luxury homes for sale :

Showing properties 1 - 4 of 4. See more Real estate in the Windgate Ranch community.
(all data current as of 6/20/2013)

1. $639,900 : 9903 E South Bend Drive, Scottsdale
   
   4 beds, 2.50 baths

   Home size: 2,719 sq ft

   Lot size: 7,950 sqft
   
2. $798,995 : 18508 N 98th Place, Scottsdale
   
   4 beds, 4.50 baths

   Home size: 2,799 sq ft

   Lot size: 9,747 sqft
   
3. $847,995 : 18509 N 98th Place, Scottsdale
   
   4 beds, 4.50 baths

   Home size: 3,415 sq ft

   Lot size: 8,402 sqft
   
4. $608,995 : 9887 E South Bend Drive, Scottsdale
   
   3 beds, 2.50 baths

   Home size: 2,937 sq ft

   Lot size: 6,685 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

One of the most important parts of a real estate transaction is the due diligence period or ‘Inspection Period’ of the AZ Association of Realtor contract permitting buyers to do as much research about the home and anything material that may pertain to the pending purchase of home in Phoenix (AZ).

During the due diligence period you will be provided at no cost a title commitment and full title report for the subject property. It is critical you read this thoroughly. Do not rely just on your Realtor to tell you if it is acceptable because there is no way any Realtor can know what is important or ‘material’ to you.

there are three particular areas that you should pay exceptional attention to:

1) tax Sheet and plat maps - this indicates your tax obligations to the municipalities and state as well as the outline of your property map and within the area is situated

2) title commitment – this is where the title insurance company provides their commitment to give you insurance against any unrecorded liens, encumbrances or other issues should they arise later. This is subject to schedule be section 2 which outlines the exceptions to this commitment. The exceptions portion is critical as it indicates where you were not covered.

3) exceptions - In the exceptions portion is arguably the most important parts of the title commitment as it indicates where you are not insured. There are certain defects, liens such as taxes, easements for utilities, conflicts of boundary lines, water rights, sanitary district easements and eminent domain issues that will be on all scheduled B, section 2, exceptions.

However, this also is the section of the title commitment that will refer to homeowners associations and other governing bodies that have covenants, conditions and restrictions (CC & R’s). If there are covenants, conditions and restrictions you are subject to their rules and guidelines. If this is material to you, make sure you read the declaration of reservations page of the title commitment policy.

This Declaration section will and must indicate your responsibilities such as fees. If there are no fees it will indicated rights to prevent you or allow you to do certain things as it pertains to your property. In Scottsdale, and in many areas of greater Phoenix, there are either HOA’s or at the very least Committee of Architecture’s that rule properties. If this is material to you, you have the right ans the opportunity to cancel the transaction. Make sure you do your due diligence. Do not rely upon your Realtor to decide if this is something that you might be ‘ok’ with.

If you need help understanding Title Reports and Title Commitment Policies, your first call should be to your Title Officer with questions and to request clarification. Again, that does not mean you should not read it in great detail as well as ultimately, you are the person buying the home.

James Wexler ~ Associate Broker ~ Realty Executives ~ 480-221-8080

HAPPY MOTHER”S DAY!!!    I hope everyone reads this blog quickly and goes out and enjoys the day with Mom!

These days it is often difficult to buy a home if you own one already. The qualification of debt to income (DTI Ratios) are make getting a loan difficult, often seemingly impossible. Further complicating the greater Phoenix real estate market is that sellers are increasingly reluctant to agree to sell homes with contract contingency of the buyer needing to sell their home in order to make the transaction work. So, what do buyers do?

They need to sell their home first. Though, what do you do after your home sells, prior to buying your new home? Where do you live?

Short-term rentals are tough to find, many Phoenix home communities do not allow short-term rentals. Additionally, if you find one, you still have to pay for moving costs in and then out, making the process more expensive. So, I am getting a lot of requests for pre-possessions of homes.

First of all, what does pre-possession in real estate mean? It is a situation in which the owner of the home lets you move-into the house prior to close of escrow.

Second, is it permissible? Yes, it’s legal. However, bank owned properties never allow it. Also, the home needs to be vacant, or the occupants need to be able to move quickly.

Third, is it a good idea? If the home is a short-sale than “No”!  If you move-in and the short-sale does not get approved, then you would be forced to move out. Maybe not a big deal, but remember, your earnest money might be at risk.

• Do seller allow it? Does it happen? Yes, and here is what you need to be aware.
• Make sure the buyer has a lease in place.
• Make sure there is clear explanation of what happens to earnest money if the transaction does not close escrow.
• Make sure the buyer/tenant has renters insurance.
• Do not move-in  until you have the conditional loan approval
• Do not move-in until you have the appraisal.

There are other concerns that need to be addressed. Both the buyer and seller should be represented by an experienced Phoenix Realtor who has done this before. If not, ask them to speak with their brokers on your behalf. Earnest money is at risk if you are a buyer. The seller may have to spend time and money evicting the buyer if they are difficult. There are legal and liability issues as well.

If you are considering this, please email me at james@wexzilla.com or call me today!

James Wexler ~ Associate Real Estate Broker in Scottsdale ~ 480.221.8080

Please take a look at some of the best Pinnacle Peak homes for sale:

Showing properties 1 - 2 of 2. See more Real estate in the Pinnacle Peak community.
(all data current as of 6/20/2013)

1. $1,750 : 8926 E Calle Buena --, Scottsdale
   
   2 beds, 2.00 baths

   Home size: 1,606 sq ft

   Lot size: 4,950 sqft
   
2. $349,000 : 24944 N 74th Place, Scottsdale
   
   3 beds, 2.50 baths

   Home size: 1,960 sq ft

   Lot size: 5,600 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Ladies and gentlemen. Welcome to Wexzilla.com, Phoenix Arizona’s real estate blogs and number one real estate portal to search Scottsdale listings and fountain Hills homes for sale.

There is a hidden gem in North Scottsdale, in the 85266 ZIP code, just south of carefree called Winfield. Winfield is just south of carefree, the boulders resort and E. Of Scottsdale Rd. near Terravita and Whisper Rock:  named for the founder are of Scottsdale, Winfield Scott, this 300 acre home site has more then 400 homes ranging from $300,000 to more than $2 million.

Winfield mountain, is the landmark of the community. Homes are built in and around its base offering you views of the mountain to the south, and to the north carefree mountain just miles down the road. Winfield is a guard gated community with friendly security officers welcoming you home and keeping you safe and secure whether you’re a full-time homeowner or just a winter resident. At the base of Winfield mountain is their multi-million-dollar resort style clubhouse. Offering you countless amenities including an area to relax and enjoy the breathtaking panoramic views, dining patios and seating areas for drinks to watch fabulous sunsets. With city lights in the distance. The Winfield clubhouse offers:

• State of the art Fitness Center
• Standing Rock Cafe
• Sauna and steam room
• Aerobic programs
• Tennis pro
• Private meeting rooms
• Men’s and women’s locker rooms
• Social programs
• Heated Olympic-size pool with beach entry
• 8 lighted tennis courts featuring two clay courts
• Media lounge & billiard room
• Massage room
• Whirlpool spa

Once you leave your gated enclave of Winfield and North Scottsdale, you are minutes from shopping in carefree, North Scottsdale, pinnacle peak, great talk, only 10 min. from the 101 freeway where the 101 shops, restaurants and movie theater is situated in only their you are a stone’s throw from chairwoman in Scottsdale Quarter.

Winfield is a great choice to live if you are looking for the carefree Arizona active lifestyle with all of the amenities activities that Scottsdale has to offer.

If you are interested in knowing more about homes for sale Winfield Scottsdale or would like to see homes for sale in Winfield North Scottsdale please call me today at 480-221-8080.

James Wexler, Winfield Scottsdale realtor.

Please take a look at the best homes for sale in Winfield Scottsdale.

Showing properties 1 - 5 of 8. See more Real estate in the Winfield community.
(all data current as of 6/20/2013)

1. $1,250,000 : 7925 E Soaring Eagle Way, Scottsdale
   
   4 beds, 4.50 baths

   Home size: 4,243 sq ft

   Lot size: 22,355 sqft
   
2. $795,000 : 7627 E Shooting Star Way, Scottsdale
   
   4 beds, 4.50 baths

   Home size: 3,060 sq ft

   Lot size: 10,000 sqft
   
3. $689,000 : 7915 E Shooting Star Way, Scottsdale
   
   5 beds, 4.50 baths

   Home size: 3,450 sq ft

   Lot size: 9,680 sqft
   
4. $1,299,000 : 7946 E Soaring Eagle Way, Scottsdale
   
   4 beds, 5.00 baths

   Home size: 4,273 sq ft

   Lot size: 36,400 sqft
   
5. $669,000 : 33653 N 79th Street, Scottsdale
   
   4 beds, 4.50 baths

   Home size: 3,450 sq ft

   Lot size: 12,104 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

I need to preface what I am about to say about assigning real estate contracts and real estate contract law in AZ with ‘ I AM NOT AN ATTORNEY . That said, I have practical experience in such matters which I will share. However, I need to be clear, if you are thinking of assigning a real estate contract or buying a real estate contract in AZ, please call a real estate attorney.

Before attempting to assign a contract, you will want to make sure it’s legal. If the contract says nothing about assignment, it’s legal to assign it. Contract rights are property under state law and can be assigned, or bought and sold, just like any other property.

A client of mine is in contract for a home in North Scottsdale; he loves the home and is several weeks from closing escrow. I received a telephone call yesterday from a real estate agent in Scottsdale inquiring whether my buyer would sell the contract to this Realtor’s buyer. Apparently, the agent had called the listing agent and asked for the buyer real estate broker, me. the agent asked if my client would consider selling the rights to the contract to his buyer.

There are some intricacies of real estate agency disclosure, ethics and confidentiality that I will not get into at length here; however, please know that I am not permitted to discuss the price and terms of the contract. This fact makes it extremely difficult to assign contracts, but not impossible. The reason it is so difficult is that if the new buyer pays the current contract holder a fee for the rights that contract, the buyer must perform on the current terms. Therefore, it would be critical that the new buyer knows the terms. In this case, my only recourse is to introduce the new buyer with my buyer. Because, my buyer can tell anybody he feels he would like to about the terms the contract.

After full disclosure, and after the new buyer has received a copy of the contract in terms from the current buyer, to attorneys should get together and work out a detailed agreement of how this contract will be assigned to the new buyer. Please note, assigning contracts are 100% legal, UNLESS, language is specifically written that says contracts are not assignable. If you are working with investors, I do recommend that as a seller you include this language in your contracts if you want to prevent this as it does happen with good investments.

Please note that if you receive a flat fee and assign the contract you are assigning all of the assets, liabilities, benefits and privileges to that contract. I always recommend that prior to assignment, you approach the seller to get their cooperation, possibly even extending certain terms and conditions in writing to the new buyer. If you do not get their cooperation, you still are legally permitted to go forward and assign your rights. But remember, the down side of assigning a contract is that you may remain responsible for the performance of the contract, if the person to whom you’re assigning the contract (called the “assignee”) breaches the contract.

Please speak with a lawyer who understands what your liabilities are in terms of a potential ‘breach’.

If you have questions about real estate in Scottsdale or Phoenix real estate investments, please email me at james@wexzilla.com

James Wexler ~ Associate Broker ~ Real Estate investments in Scottsdale ~ 480-221-8080