Ya’ll know that I’m a big fan of our locally-owned businesses. That’s why I’m a member of Local First Arizona and why I created the Phoestivus Market.

So, I was happy to have the opportunity to represent a very creative dress and accessory maker here in town as she sells her home and workshop. Jennifer Wood and her husband Aaron are relocating and they are listing a beautiful mid-century home that is tailored for the home-based artist or craftsman.

They adapted a 300 square foot work shop so that Jennifer could produce the French-influenced pieces that you can find at Mignonne Handmade. Jennifer makes each piece by hand, using solid brass and gold plating, as well as high quality, hand-dyed silks.

I particularly like the story behind this listing because it speaks to so much of what his happening in Central Phoenix these days. More and more people are rejecting the long commute and they are working from home. Not only that, but they are finding (or re-finding) craft and trade skills that America lost much of over the last few decades.

The combination of local production and skilled trade means that many homes will adapt to the new normal.

In this case, the owners took a basic extra room, guest house situation and made it a very adaptable space, suitable for anybody who has (or is thinking of having) a home business.

Have a look at the listing here. This is a rare example of a Central Phoenix home with a two-car garage. They’ve created a functional and comfortable space in the back for family. The living room is large and great for kids or entertaining.

Let me tell you a few reasons why I think my new listing on Roosevelt and 10th Ave is a great opportunity.

1) It is a short sale and very well priced. There are so few short sales left. That’s good, but it also means fewer chances to get some great deals.

2) It is very close to all the great things downtown. It is close to Grand Ave. galleries and Roosevelt Row, as well as one of my favorite places to appease my sweet tooth: Treehouse Bakery.

3) It has a garage, which is rare downtown.

4) The owner did a lot of work on the kitchen, which you get to benefit from. Oh, and the wood floors look great.

5) There are two rooms, each of which has its own little den. That’s perfect for first time home buyers or renters.

This home is only $135,000 –or whatever we convince the bank to take!

Please give me call if you’d like to see it at 602-456-9388.

The next time you are around Copper Star Coffee or one of the other locally owned gems on 7th Ave, swing in to the Woodlea Historic Neighborhood and see the my listing at 1109 W. MacKenzie.

Or, you can touch on this link to see the listing right now.

This is truly great renovation. Check out the “before” picture, below. The owners made it their goal to retain and respect the historic qualities of this 1,445 square foot, 3br/1.75ba home on a double lot of land. When you make an offer on this house you actually have to write in the sale of two lots. This is a great big space in an established CenPho historic neighborhood. 

The owners kept the original marble honeycomb tile and flat subway tile in the kitchen and bathroom. They also completely renovated the wood floors and kept the original kitchen vent hood for a touch of historic charm. 

They made detached garage operable again by rebuilding much of the structure. They added fixtures and features throughout the house, but also added new touches like an expanded master bathroom, a 21-SEER air conditioner in the master addition, a patio sitting area. They also re-built the front porch over-hang. Other modern touches include the 6-burner stainless steel stove and recessed lighting.

I was hosting our first open house last week and the neighbors were thrilled with the work that had been done. You will be, too.

I used to live in this neighborhood and I can tell you it is a great place to live, with wonderful people and easy access around town.

Please give me a call at 602-456-9388 to see the home.

==========Pre-renovation Photo===========

If you owe a debt to someone and they cancel or forgive that debt, the canceled amount may be taxable. Same goes for mortgage debts. Hence, the creation in 2007 of the Mortgage Debt Forgiveness Relief Act. The IRS explains the concept surprisingly well. This act expires in 96 days, the end of this year, after the holidays; much sooner than you realize.

People have been opining this whole year about the possible extension of the $1 billion mortgage debt forgiveness relief provision at the end of the year. I’ve been hearing the following:

“Should I short sell before the end of the year?”

“Can I count on the hopeful January 1 extension?”

“The $1 billion mortgage debt relief provision allows me to avoid paying taxes on mortgage debt forgiven by my lender, but it expires at the end of the year! My chance to short sell and still seek tax relief is disappearing quickly!”

“But I hear these holiday months aren’t as slow as one might think. Oh, no! I’m almost out of time to avoid the tax repercussions of selling my home short!”

Let’s be clear on what the act does.

The 2007 Mortgage Debt Relief Act allows taxpayers to exclude up to $2 million of forgiven debt on their principal residence in calendar years 2007 through 2012. With one caveat: The discharge of debt must be directly related to the decline in the residence’s value or in the financial condition of the taxpayer.

The Mortgage Forgiveness Debt Relief Act was originally going to expire at the end of 2010, but lawmakers decided to extend it until the end of 2012. If it does expire, anyone who receives mortgage forgiveness on day one of 2013, or after that, will have to face paying income tax on a forgiven debt.

Isn’t it in the President’s budget?
Didn’t it pass the committee level in the Senate?

Yes/But… We don’t know the outcome of the election in November and nothing is moving in Congress for the next 6 weeks. This time bomb very likely won’t be voted on before the end of the year, what with their attention consumed with the nation’s budget crisis.

Furthermore, given that it takes 3 to 6 months to close on a short sale…Are you really willing to take the risk that the act will be extended?

What’s the bottom line?

List now and be more certain that you will avoid that tax liability. I strongly advise you consult with a tax attorney!

[referee photo: compujeremy] [house photo: surprise truck]

There was a great story on KJZZ yesterday morning on their Changing America series. Reporter Peter O’Dowd talked about how retirees are moving into downtown areas and urban cores along the Valley Metro light-rail line.

Finding homes for these folks in CenPho is driven by a need I saw coming years ago: Baby Boomers—the post-WWII generation born between 1946 and 1964—are changing the way we view retirement. I say that because I have helped many folks in their retirement years as they search for homes in downtown. So, this story really hit home.

“As a group,” said Landon Jones in his book that coined the word, “[Baby Boomers], were the wealthiest, most active, and most physically fit generation to that time, and amongst the first to grow up genuinely expecting the world to improve with time.”

It should come as no surprise, then, that 60 housing units are opening at the end of this month in downtown Phoenix, along the “pedestrian friendly street with historic sidewalks and that sort of thing”—which is how Gordan and Company Developer Brian Swanton described Lofts at McKinley in the KJZZ piece.

The Lofts will attend to the lower and middle income residents, 55 years and older. It’s just a few blocks from a light-rail station. When the complex broke ground last year, KPHO reported,

Despite the lower price tag, amenities will not be cheap. Tenants met by doormen, high end appliances and even green products. Recycled water for irrigation purposes. Rent will range from $400 to $900. Eligible tenants must have an annual income between $18,000 to $32,000.”

There aren’t many seniors or retirees who can afford early retirement these days. Guaranteed pensions are even less likely. Swanson said that by 2013 close to 300 units for seniors will be available along the light-rail line between Phoenix and Mesa.

Shannon Scutari, who leads the Sustainable Communities Collaborative (and is quoted in the KJZZ piece), “helps coordinate a 20-million dollar fund to kickstart financing for affordable housing near transit. Without various stacks of private money, Scutari says the banks just aren’t interested in taking the risk on their own.”

Encore on Farmer is another senior housing complex that opened January in downtown Tempe.

The prospects are not just for rentals, but also for home sales in CenPho and downtown. This is what I find so exciting. I love the diversity. As a famous baby boomer said, “The times they are a changin’….”

There are plenty of homes, town homes, patio homes and condos for sale that meet this need. Please give me a call at 602-456-9388 if you are interested to learn more.

[Lofts at Finley photo: combusean] [Baby Boomers photos: NGOA&ENGAF]

Hey, all. This is outside of CenPho, but I want to help my friend Ron rent his 2,200 square foot home in Tempe. It’s a great home with a big garage and pool, very conveniently located in Tempe.

Check out this link for detailed information.

The rent is only $1,500  NOW $1,450 per month, a great deal for such a large house. It is also walking distance to a local school.

Please give me a call with questions at 602-456-9388.

Please spread the word. We have two open houses this weekend.

Saturday from 12:00 noon to 2pm – 140 E Coronado Rd.

Villa del Coronado is one of the most sought after and unique co-op communities in Phoenix, steps away from museums, light rail, health clubs and restaurants. This 2 bedroom, 1.75 bath home has seen numerous improvements over recent years: opening up the living and dining rooms, UV protecting on the windows, renovating the kitchen a installing a beautiful master bathroom. Don’t miss the huge 5′ x 24′ living room balcony and the 5′ x 14′ off the master bedroom. Located in an elevator building, this unit is one of the few with a permitted full size washer and dryer and a detached garage! Cash buyers or seller may carry. All utilities and property taxes are included in the monthly HOA fee. This is perfect for refined downtown living.

Sunday from 11am until 1pm- 4729 N 76th Pl. in Scottsdale
This is a great single level home in Villa Monterey. Corner unit with rare side access gate to backyard. 2 bedrooms plus bonus den area. Updated kitchen with granite counter tops, built-in oven, smooth cook top, and eating area. Expansive living room huge window overlooking private yard. Huge master suite with updated bath. Private backyard with covered patio and mature citrus trees.

Sunday from 11am to 2pm – 140 E Coronado Rd.

Villa del Coronado is one of the most sought after and unique co-op communities in Phoenix, steps away from museums, light rail, health clubs and restaurants. This 2 bedroom, 1.75 bath home has seen numerous improvements over recent years: opening up the living and dining rooms, UV protecting on the windows, renovating the kitchen a installing a beautiful master bathroom. Don’t miss the huge 5′ x 24′ living room balcony and the 5′ x 14′ off the master bedroom. Located in an elevator building, this unit is one of the few with a permitted full size washer and dryer and a detached garage! Cash buyers or seller may carry. All utilities and property taxes are included in the monthly HOA fee. This is perfect for refined downtown living.

Check out this new listing at 910 W Portland. This 1931 tudor style home is incredibly preserved and updated by the current and past owners. 

The list of upgrades is impressive: updated wiring, custom window shades, renovator’s light switches with dimmers, water filtration, original fixtures and keys. This property also has a sizeable guest house with its own laundry and bathroom. The home is has 2br/1ba in the front, but a room off of the kitchen is plumbed and ready for a half bathroom. The guest house is also plumbed and ready for a kitchen. 

The current owners have done an incredible job on all kinds of little details, from the restored built-in writing desk to the crown moulding. Features and Improvements to 910 W Portland

I’ve seen a lot of remodels in my time and this is one of the best, for sure! So, click on the picture if you want to see the listing with more photos or give me a call at 602-456-9388.

I am very proud to announce that I have been asked to join the Elite Group at Homesmart.

What does this mean?

It means that  I had to demonstrate my competence and excellence to other elite agents.

Elite Group Agents must have sold a certain (high) volume of homes in the last year and they must have proven sufficient experience, knowledge and professionalism to excel in this rough market.

It means I’m gonna start driving a Cadillac and wearing obnoxious clothes.

Actually, no. That’s not true. I’ll stick to my trusty Prius and conservative attire.

What does this mean to you? 

It means that you can trust that I will do a great job for you, that I understand this market, that I will listen to your needs and that I will represent you the way you deserve to be represented.

I’m sure this may seem like a marketing club for realtors. But I am immensely proud of this. I became an agent in 2008 when the market was collapsing, knowing that if I worked hard in the tough times, I would be that much more qualified when times get better. Further, I reached this milestone in my career in a very short time in this market.

I worked my tail off for my clients to earn this designation and I will continue to apply what I learned then to your needs now.

If you have questions about the Elite Group or the housing market at all, please contact me at 602-456-9388.

Well, the Fairhope House is back on the market. This is bad news for the people who wanted to buy it and for the sellers, but it is great news for you. Here is why. This is a short sale. That means the sellers accepted an offer and then turned to their original lender on the property to get permission to sell at that offer price.

The lender did an appraisal and decided the property was worth $730,000. So, the buyers were not at that price and walked away. While sad, this gives an incredibly valuable piece of information that you could not get in a normal sale or a foreclosure: the drop-dead, bottom line price. This is a pre-approved sales price!

So, please see this link. The new sales price is $730,000.

Now, any buyer can walk in knowing exactly what the buyer’s lender will accept. (If they are lucky, the buyer will get under contract, do an appraisal and might even force the price down further!).

So, please help spread the word. Help us prevent this outstanding property from sitting in the ghostly limbo of foreclosure-land for possibly months. This is an incredible opportunity to own THE FLAGSHIP PROPERTY IN WILLO.

Call me with questions at 602-456-9388.