Real Estate Professionals in Scottsdale AZ Office: 480-584-3311

10 year chart comparison for the Arizona Real Estate market

2011-02-15T10:30:00.000-08:00

The last 10 years comparison for Arizona Real Estate

Click link above for the lastest charts from the Arizona Regional Multiple Listing Service. January's 2011 Arizona Real Estate Market started out well!

What does my name mean?

2011-02-08T15:47:00.000-08:00

Peggy's name Margaret means "Pearl"

What does your name mean?

http://www.behindthename.com/

Do a little research and you to discover the history of your street name:

Below is a link for the history of Scottsdale Arizona street names: http://www.azpbs.org/arizonastories/seasontwo/namethatstreet.htm

Foreclosures ease in Arizona, California, Nevada | Inman News

2011-01-19T10:49:00.000-08:00

Foreclosures ease in Arizona, California, Nevada Inman News

Happy Holiday's

2010-12-14T11:25:00.000-08:00

Personalize funny videos and birthday eCards at JibJab!

Just Listed!

2010-11-12T15:46:00.000-08:00

Just Listed Pure Perfection in Scottsdale Ranch:
Click on link for Virtual Tour and additional photos below.

Offered for sale $675,000

5 Bedrooms, 4 Baths, 3,976 Sq Ft, 3 Car Garage, Built in 1986

Granite and Marble Counters in Kitchen, Baths and Laundry

Plantation shutters, Clerestory Windows, 2 Fireplaces, Saltwater pool, Lush Private Lot, All Bathrooms are completely Remodeled

Guest House has separate entrance, Courtyard, Bedroom, Bath, and Living Room All Remodeled and Fabulous!

Click here for virtual tour: www.tourfactory.com/679441

September 2010 Real Estate Statistics

2010-10-20T12:08:00.000-07:00

This graph shows the SOLD homes since 2001.

For more statistics go here:
http://armls.com/Statistics/MarketReports.aspx
If you need specific comparables for your neighborhood call our office: 480-584-3311

Trick or Treat?

2010-10-11T10:56:00.000-07:00

Personalize funny videos and birthday eCards at JibJab!

Homebuyer tax credit: 950,000 must repay

2010-09-13T10:18:00.000-07:00

Homebuyer tax credit: 950,000 must repay

Did you Know?

2010-09-01T12:28:00.000-07:00

Just Some Fun Facts and Trivia!

More than half of the coastline of
the entire United States is in Alaska!
􀂄 Istanbul, Turkey is the only city in
the world located on two continents!
􀂄 Canada has more lakes than the
rest of the world combined. More
than 60% of the world’s lakes are in
Canada!
􀂄 Next to Warsaw, Chicago has the
largest Polish population in the world!
􀂄 A pack-a-day smoker will lose approximately
2 teeth every 10 years!
􀂄 Woodward Avenue in Detroit, Michigan carries the designation
M-1, because it was the first street paved with concrete
anywhere!
􀂄 Most of us have eaten a spider in our sleep
􀂄 Most hospitals make money by selling the umbilical
cords cut from women who give birth. They are used in
transplant surgery!
􀂄 Forty people are sent to the hospital for dog bites every
minute!
􀂄 40,000 Americans are injured by toilets each year!
􀂄 The average person over 50 will have spent 5 years
waiting in lines!
􀂄 The average housefly lives for one month!
􀂄 The only two animals that can see behind themselves
without turning their heads are the rabbit and the parrot!
􀂄 Apples, not caffeine are more efficient at waking you up
in the morning!
􀂄 The average computer user blinks 7 times a minute!
􀂄 Your feet are bigger in afternoon than at any other time
of the day!
􀂄 The first Harley Davidson motorcycle built in 1903 used
a tomato can for a carburetor!

Scottsdale made top 100 in CNN Money Magazine

2010-07-12T10:36:00.000-07:00

Click on link to see Full article:

http://money.cnn.com/magazines/moneymag/bplive/2010/snapshots/PL0465000.html

Got Cheap Food???

2010-06-21T14:42:00.000-07:00

Given the state of the economy, everyone is looking for deals. With the internet, you can always find someone selling exactly what you’re looking for if you surf long enough.
Here are a couple of my favorite “Discount Shopping Sites.” Keep them on your “Favorites” bar like I do and you will find yourself returning frequently.
Restaurant.com is a great site for finding discounts at local restaurants. Just enter your zip code and it will show you tons of great dining opportunities. One rule I follow is that I do not purchase anything until they are 80% discounted. That will happens every few weeks so sign up and watch your notifications for that 80% deal
Groupon.com is another great discount site and they do even more than just restaurants. You can find everything from beauty salons, to Paint Ball games, to tanning salons and just about anything you might want. Sign up and they will start sending you the offers
Hautelook.com is a retail shopping site where they run incredible sales every day. You can tell them the names of your favorites or just browse the specials. You will be astounded at some of the prices
I’ll let you know when I find more great sites. Do you have any sites you’d like to share?

Confetti Salad

2010-06-21T14:33:00.000-07:00

Here is one of my all time favorite recipes. I’ve had it for over 35 years and every time I make it, I get requests for the recipe. Up till now I have guarded this one closely. I hope you all try it and I hope you love it as I do.
§ 1 package Vermicelli § 8 oz Girard’s French dressing
§ ½ cup sweet pickle juice § 2 cloves minced garlic
§ Salt § 1 tsp Celery Seed
§ Cayenne pepper § 1 Tb Poppy Seed
§ ½ tsp Caraway seed § 1 cup Hearts of Celery
§ 1 Bunch green onions—chopped with some tops
§ 6 large sprigs parsley—finely chopped

Put cooked vermicelli in a bowl to cool with French Dressing. Add juice, garlic, salt, cayenne, Poppy Seeds, Caraway seeds, celery, green onions and parsley.
Serve cold!!! (I break the Vermicelli prior to cooking and add the greens at the last minute.) My taste buds are working overtime thinking about this. I think I’ll make it now

Options: short sale, forclosure, deed in lieu? Help!

2010-05-13T14:33:00.000-07:00

“What exactly are the different options and what do they mean?”

OPTIONS TO KEEP YOUR HOME

Refinance—A new mortgage on the loan with no change in ownership. The ability to refinance a loan requires that the borrower not be delinquent and that there be equity in the home.
Repayment Plan—Plan where delinquent payments are distributed over a period of time, usually no more that 12 months. The amount is added to usual mortgage payment resulting in a higher payment until the delinquent amount has been repaid. This plan brings the account current within a specific time period.
Loan Modification –Past-due interest and escrow to the unpaid balance, which is then amortized over a new term. Rate adjustments, term extensions and principal forgiveness may be considered. Loan modification results in permanent, contractual changes in one or more of the mortgage terms. Additional loan fees may be involved based on the type of mortgage a customer holds and on the specific investor. A loan modification immediately brings the account up-to-date.
Forbearance—A temporary reduction or suspension of the borrower’s payment. The repayment plan is based on the customer’s financial situation. Because of long-term implications, this option is used only in severe hardship cases.

OPTIONS TO NOT KEEP YOUR HOME
Sell the property—This is the best option if you cannot afford the mortgage payment and if the house is worth more than the amount owed.
Assumption—If allowed by loan documents and if you find another borrower willing and qualified to take over your mortgage. The new borrower must meet the lender’s criteria
Short Sale—If the market value is less than the total amount owed, a short sale allows the borrower to sell their home and use the proceeds to pay the mortgage even though the proceeds will not be sufficient to pay off the outstanding balance. The investor and mortgage insurer must agree to this.
Deed-in-Lieu of Foreclosure—The borrower transfers the property to the servicer if the home cannot be sold at market value. This option requires that the property be listed for a specific period of time, generally 90 days. There may be tax consequences.
Bankruptcy—Consumers do have the option of filing a Chapter 7 or Chapter 13 Bankruptcy if they need more time to pay a mortgage delinquency or need to restructure their debt so that they have funds available to pay secured debts. Either type of bankruptcy provides two important benefits:
1. Automatic Stay—If the debtor has not filed bankruptcy before, upon filing an automatic stay is put in place by the Bankruptcy Court. This means all other litigation against the debtor cannot proceed to conclusion without permission of the court. Further, all garnishments against a debtor’s income/bank account must stop as of the date of the bankruptcy filing. Any creditor who wishes to continue its action, including a foreclosure, must get permission of the Bankruptcy Court to proceed before continuing.
2. Time to Review Alleged Claims—Sometimes creditors, including mortgagees, claim amounts are due which the debtor may question. Review by the court of the claim is possible and erroneous charges can be corrected.
Chapter 7—Complete Liquidation. Allows the debtor to discharge most unsecured non-priority debts while retaining exempt property such as homestead. Can be use to reduce monthly payments thereby increasing available income to pay monthly mortgage amounts. Usually takes 4-8 months from filing to discharge to complete.
Chapter 13—Reorganization. Available to debtors over a certain level of income and provides him/her with the ability to work out a schedule of payments for the delinquent amounts owed on a mortgage over a 36-60 month time period. Also provides a mechanism to strip off second mortgages when there is no equity attached to that interest and “cram down” secured debt on non-residential property.

When selecting a Realtor to work with you, make certain they have experience with these kinds of transactions. This is a quickly-changing market – processes are constantly changing, forms are changing, terminology is changing, lender guidelines are changing. Your Realtor must have this knowledge in order to help you.

If you, your friends or your relatives need help please call us. The only thing worse than making the wrong decision, is to start the process too late.

2010-04-19T15:10:00.000-07:00

In the Scottsdale Arizona real estate market the number of sales each month is increasing. The square foot sales price for the most part, has stopped decreasing and in many areas is starting the trek back up, BUT Short Sales and Foreclosures are a part of the Real Estate Landscape and it appears they will remain so for some time to come.
We’re certain many of you might already be tiring of hearing the latest catch phrase “the new normal” to describe the current market situation, but the reality is short sales and foreclosures are a significant part of our real estate market and they are affecting the traditional sale segment of the market because appraisers are using the distressed sales prices as comps for all sales.
They have become such an integral part of our industry that we now have Short Sale Addendums for Sellers (Short Sale Addendum to Listing Contract) and for Buyers (Short Sale Addendum to the Residential Resale Purchase Contract).
Recently, the Arizona Department of Real Estate in conjunction with the Arizona Association of Realtors released its Short Sale Seller Advisory – you’ll find it on the front page of www.aaronline.com . It is a well-organized document that identifies the specific issues you need to consider and includes the web links you need to get the correct information.
We have done, and are doing, a significant number of short sales, foreclosures and distressed property transactions so we thought it might be time to acknowledge the “elephant in the room” and give you a primer on this market segment.
The first thing to be crystal clear on is that there is not a single source or professional you can go to in order to find out what to do. There are too many factors to consider and no two situations are the same.
In the end, you will need to choose between the following options: Loan Workout, Loan Modification, Refinance, Deed-in-Lieu of Foreclosure, Work-Out Sale, Bankruptcy or Foreclosure. Given that, here is a brief guide through the maze of our “new normal.”
1. You need to understand the Lender’s options regarding your loan because they are not all the same. www.aaronline.com/AZR/Dec/09LoanDefaults.aspx
2. If you’re in default you may have been contacted by a company claiming to be able to “fix everything” Before anything else go to www.efanniemae.com/utility/legal/pdf/fraudnews/mortgagefraudnews0709.pdf
3. Talk to a HUD-approved counseling agency at www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=AZ They can help you understand and point you in the right direction.
4. Call your lender directly and ask for the home retention or loss mitigation department and ask if they are willing to discuss options. It is important to know what flexibility there is with your lender.
5. Contact the Arizona Foreclosure Helpline which is another good resource for pointing you in the right direction at www.housingaz.com/ShowPage.aspx?ID=248
6. Review the AZ Foreclosure Prevention Task Force Workbook at www.dbtaz.org/flyers/2009.9.1State.Task.Force.Wrkbk.pdf. Aan excellent document for homeowners of all experience levels.
7. Obtain legal advice. This is critical. You need to understand your legal liability. If you don’t have an attorney contact www.azbar.org/LegalResources/findspecialist.cfm to find a real estate specialist.
8. Obtain tax advice. Obviously, another very critical one. For information go to www.irs.gov/individuals/article/0,,id=179414,00.html and for certified tax law specialists go to www.azbar.org/LegalResources/findspecialist.cfm
9. Last on the list, but something that can never be done too early in the process is to talk with a Realtor experienced in these transactions. There are actions you need to take to sell your property prior to talking with your lender and there will be reports, comps and marketing information your Realtor will need to prepare.
When selecting a Realtor to work with you, they must have experience with these kinds of transactions. This is a quickly-changing market – processes are constantly changing, forms are changing, terminology is changing, lender guidelines are changing. I know you’ll find an attorney with real estate experience, so it only stands to reason you must have a realtor with experience in these kind of transactions.

Housing Statistics from 2008-2010

2010-02-08T13:53:00.000-08:00

Market Update:

It is 2010 and many are glad that 2009 is a fading a memory. To call it an interesting year would be an understatement. Since last year we have been preaching that the market had “bottomed out” and that we were beginning the slow, steady climb back up. We stand by those beliefs and barring any unexpected world or economic catastrophes you can look to a better year for the housing market in 2010.
They say a picture is worth a thousand words. Often a graph is even better. Below is a graph (information courtesy of The Cromford Report) showing housing statistics for the past three years at the beginning of January which perfectly illustrates our point.

The length of time between the writing of the contract and actual closing is why Pending and AWC have ballooned. The time needed for lender or bank approval is unpredictable, sometimes interminably long and many of these deals will fall out of escrow and turn into REO properties.
What does it mean? For the traditional seller you need to be as competitive as possible so your property sells before the REO’s get reintroduced to the market and temporarily reduce values again.
As a buyer make certain you have the time and patience if you’re going to buy in the short sale/foreclosure market. Also, take a close look at “traditional” listings because as sellers become more competitive the difference in price might be a much better value once all is said and done.
Positive trends include: Inventory going down, # of sales going up and depreciation of our properties is grinding to a halt. On the negative side, the depreciation over the past few years has dramatically affected the square footage sales price for our properties.
For 2010, just buckle in and be ready for a slow, yet positive year. Cash will be king for the next couple of years. There has never been better value in our market. If you want to downsize or upsize and have enough equity in your current property to walk away with cash, you will be able to buy a much greater value home.
Now, don’t shoot the messenger, but please consider this advice. The value of your home is truly, truly less than it was a few years ago. For many it is less than what you purchased it for. With all the short sales and foreclosures, it is becoming more and more difficult to ascertain property value. Many contracts are falling apart because homes are not appraising for the offered price. If your home is currently listed or you are thinking of listing it have it appraised so you will truly know what the value of your home is in today’s marketplace.

Fudge Brownie Trifle

2010-01-26T11:43:00.000-08:00

Ingredients:

1 Package fudge brownie mix

1/4 cup water

1/2 cup vegetable oil

2 eggs
1 Tablespoon freeze-dried instant coffee (Not a coffee fan? Make without!)

1 Package Chocolate fudge instant pudding mix

2 cups cold milk

1 Package English Toffee bits

1 Container frozen whipped topping, thawed

Directions:

Pre-heat oven and grease 13 x 9 pan. Prepare brownie mix as directed. Stir coffee into batter and spread in pan. Bake as directed. Cut brownies into 1" squares and place 1/2 of them in bottom of glass trifle bowl. Prepare pudding mix and pour half over brownies. Top with half of toffee and half whipped topping. Repeat, cover and refrigerate at least 4 hours.

Heated Brie Appetizer

2009-12-07T10:47:00.000-08:00

1 Large wheel of Brie
Chopped green onions
1 Jar of Chutney - your choice
Crumbled crisp bacon

Place the Brie in the oven at 350 degrees for about 15 minutes or until it just starts to get soft. Place the green onions on top, then the chutney and finally top it all off with the crumbled bacon.
Serve with a sliced baguette.

Where is the Arizona market going?

2009-11-24T10:04:00.000-08:00

Where is the Arizona market going? The numbers from the Arizona Multiple Listing Service speak for themselves. The bottom chart shows monthly numbers of homes sold from 2001-2009. The focus of the top chart is on the specfic price ranges from October 2009. Just look at the price range $120K-140K. That range has the highest number of homes sold at 665 and another 912 pending with only 1939 active. Please take the time to review these charts the numbers positive!

When buying or selling a home, one of the largest financial decisions a person will ever make, always consider the source of statistics. Just in the last few days I heard the market is up 24% , up 10 % and market bottom is still coming - so which is it? We all would love to know! Statistics are often taken out of context so provided below are two charts that are a good gauge. Every month this information is updated from the Arizona Multiple Listing Service and can be found at: http://armls.com/stats.html

Keep in mind that these numbers do not include private party transactions or trustee sales.

If you would like those statistics please email peggy@peggyrauch.com.

(Click on pictures for larger view)

Tax Credit Extension

2009-11-09T12:47:00.000-08:00

Tax credit extended what does this mean?

Extends deadlines for purchasing and closing on a home
Authorizes the credit for long-time homeowners buying a replacement principal residence
Raises the income limitations for homeowners claiming the credit
Must enter a binding contract on or before April 30th 2010 and close by June 30th 2020.
For homes purchased in 2008, the credit operates like an interest-free loan because it must be repaid over a 15-year period.
The credit was expanded in 2009 for homes purchased in 2009, increasing the amount of the credit and eliminating the requirement to repay the credit, unless the home ceases to be your principal residence within the 36-month period beginning on the purchase date.

If any of the following describe you, you cannot take the credit, even if you buy a new home:
Your income exceeds the phase-out range. This means joint filers with MAGI of $170,000 and above and other taxpayers with MAGI of $95,000 and above.
You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
You do not use the home as your principal residence.
You sell your home before the end of the year.
You are a nonresident alien.
You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008.

For details go to IRS link :

http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7

Goody Goody Lemon Cake

2009-10-30T11:40:00.000-07:00

Here is a fabulous recipe from one of my friends.
It is moist, lemony, delicious and perfect for this time of year.
It is perfect for dessert after a big meal or as a snack when we’re watching football games on Sunday/
s 1 box Duncan Hines Yellow Cake mix
s 1 box Lemon Jell-O (the small size box)
s 4 eggs (you can substitute Egg Beaters)
s 3/4 cup Olive Oil
s 3/4 cup water

4 Pre-heat oven 325 degrees
4 Mix dry ingredients first
4 Add water, oil and eggs
4 Beat about 2 minutes until batter is smooth
4 Pour batter into greased 9x13 glass pan
4 Bake until toothpick comes out easily (about 35 minutes)
Topping
4 Grate zest off one lemon and one orange
4 Add zest to juice of one lemon
4 Add 2 cups powdered sugar and mix
When cake is done remove from oven and let stand for 2 to 3 minutes and poke holes (LOTS!!) in the cake with a fork. Slowly spoon topping evenly over the cake. This cake is delicious either warm or cold!!!

Scottsdale Restaurant Review for RAZZ's

2009-10-19T09:42:00.000-07:00

Razz’s Restaurant is located on the southeast corner of Scottsdale and Shea in a funky little shopping center called the Windmill Plaza. Razz’s backs Scottsdale Road and is just north of Dairy Queen. (Trust me, you won’t need to stop there for dessert once you’ve tasted Razz’s Venezuelan Chocolate Pate or his Coconut Flan).
It’s lively, friendly and full of wonderful energy. Razz and his staff cook right before your eyes, behind the bar. There are seats at the bar designated as “Razz’s Table”. When you sit there you are wildly entertained with Razz’s flamboyant style and incredible culinary skills as he prepares as many tasty small courses as you are willing to enjoy.
I dare say you won’t find a better chef or more sparkling personality on this planet. My mouth is watering as I write this just thinking of some of the dishes we have had there.
He has some standards and ever-changing specials. Great atmosphere, wonderful service and Fabulous Food!!! You might even be lucky enough to meet Razz’s wife Bobbi Jo who frequently stops by the tables to meet new and old customers and friends.

Check out Razz's website:

http://www.razzsrestaurant.com/

For Rent: 2BR/2.5BA Townhouse in Scottsdale, AZ, $3,250/month

2009-09-15T17:12:00.001-07:00

For Rent: 2BR/2.5BA Townhouse in Scottsdale, AZ, $3,250/month

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First Time Home Buyer Credit

2009-08-25T13:44:00.000-07:00

Questions about first time homebuyers credit?

Cut off for credit is to have purchased by December 1st, 2009 so call us to buy a home!

Follow link below to go direct to IRS site:

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

July 2009 Home Sales Report

2009-08-19T11:51:00.000-07:00

Here is a link to the 2009 July's Arizona Multiple Listing Service Sale Report:

https://www.armls.com/pdfs/HmSalesArmlsJuly2009.pdf

5311 N Palo Cristi, Paradise Valley, AZ | Powered by Postlets

2009-08-12T14:30:00.001-07:00

5311 N Palo Cristi, Paradise Valley, AZ | Powered by Postlets

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It's Official We Are Our Own Real Estate Brokerage!

2009-07-31T09:42:00.000-07:00

We are proud and excited to tell you that we have taken a giant leap and opened our own Real Estate Company. It is called "The Peggy Rauch Group" and we are located on Indian Bend and Scottsdale Road in the Seville Plaza (link to map). Stop by for a visit, we'd love to give you a tour.

For years clients have told us they were unaware that we were actually with one of the larger brokerages. In truth, having developed our own systems, processes and collateral materials, we have really been operating as our own brokerage within a larger brokerage anyway.

Some have questioned "why now?" but as Michael says we are simply doing what experts in every industry always advise -taking advantage of a down market. We are also fortunate that our business model - working in all prices ranges, throughout the Valley , in land and commercial as well as residential helps us through the peaks and valleys of the real estate industry.

The biggest reason for over 23 years of success in this market however is YOU, our loyal clients and friends who have trusted us to guide you through your real estate transactions.

We're still a little nervous as we move into this but I've printed out a couple of quotes I keep on my desk to bolster me and I'd like to share them with you.

"To do anything truly worth doing, I must not stand back shivering and thinking of the cold and danger, but jump in with gusto and scramble though as well as I can."

Og Mandino, Author and Speaker

"Progress always involves risks. you can't steal second base and keep your foot on first."

Fredrick Wilcox, Writer

Black Bean & Corn Salsa

2009-07-06T13:28:00.000-07:00

This salsa is a great accompaniment to carnitas, tacos or just tortilla chips as a snack. Feel free to increase or decrease the spiciness to your liking.

· 1 cup canned black beans drained and rinsed
· 1 cup corn kernels—frozen, canned or fresh cooked
· 1/2 medium sweet red pepper—chopped
· 1/2 medium red onion—chopped
· 1/2 cup ripe tomato—finely diced
· 1/4 cup cilantro—chopped
· 4 green onions—chopped
· 2 fresh jalapeno peppers—seeded & minced
· 2 cloves garlic—minced
· 2 tbsp lime juice
· 1 tsp salt
4 In a mixing bowl, toss together4 all the ingredients. Taste and adjust seasoning to your desired “heat quotient.”
4 Let sit at room temperature for about 30 minutes or refrigereate for atleast one hour before serving.
Once you’ve mastered the “spice aspect” I promise it will become one of your stand-bys for all sorts of get-togethers.