No, we’re not talking about your lovely Christmas trees.

Arizona State University’s Downtown Phoenix campus recently installed solar panels on the roof of  the Walter Cronkite School of Journalism and Mass Communication. These new solar panels are the first of their kind at the Downtown campus. The project cost approximately $815,000 and includes 322 panels which will produce 122,335-kilowatt hours of energy, not to mention are super cool. This is just one of many ways in which the schools plan to two conserve 20 megawatts of power every year by 2014.

And Why not? Sun is Arizona’s most bountiful resource. Those of you who have driven past the VA, Couldn’t help but notice their energy efficient parking structure. This past august, Duke Energy Renewables, purchased the Ajo Solar Project, in Pima County and The Bagdad Solar Project, located in Yavapai County, which collectively generate 20MW every year. More recently , Big Wigs from Greater Phoenix Economic Council  met with Senators Kyl and McCain in a lobbying effort for the growing industry. All just pieces in the bigger solar powered future of Arizona.  What does that mean for you? Recently, APS announced that customers could expect a 21% decrease in their bills thanks to their renewable energy programs, like partnering with Duke Energy Renewable.

ASU will of course be reaping in these benefits along with federal and state tax credits. The Downtown solar panels are just one of many ways in which the schools plan to conserve 20 megawatts of power every year by 2014.

I’m thrilled and honored to be listing 90 West Virginia, historically the Fairhope School.

This 4,183 square foot Spanish Revival home is THE flagship Willo Neighborhood property, sitting on just about 3/4 of an acre. There is no other parcel of this size in Willo, as this home was once the Fairhope School.

This recently-renovated 4-bedroom, 3.5 bath property includes a guest house, pool and incredible features, which you must see to believe.

Owning this property is like owning a piece of Phoenix history.  Built in 1930, the Fairhope school was a private academy for young ladies. It was billed as a modern marvel because it had the amenities to actually heat lunches for the children to eat.

In 1949, the school was remodeled in to a bed and breakfast called the Yum Yum Tree. It stayed that way until the 1970s when it was traded to a local attorney named Neal Roberts. Who is Neal Roberts you might ask? Well, this is where the history gets truly amazing.

He was one of the individuals implicated in the famous assassination of Arizona Republic journalist, Don Bolles at the Clarendon Hotel in June of 1976. Roberts owned the property and lived and worked there.

Sad history, yes, but this is the stuff that lovers of historic homes live for.

Later still, there were attempts to make it a bed and breakfast again. In fact, you can still see it listed on Trip Advisor.

The current owner and his wife lived at the Yum Yum tree for a short time in the early 1990s. So inspired by the history of the building and their memories, they bought the property and renovated it in 2008 with the help of well-known Phoenix Architect, Jerry Cook. Their work earned them the 2009 Phoenix New Times “Best Historic Renovation” honor.

I will have more “before and after” photos for you soon. For now, enjoy the “now” photos, below.

This is the kind of property that a true lover of history and architecture will naturally seek out. Viewings of this home are by appointment only. Please contact me at 602-456-9388 for more information.

Some features include: solar panels, bamboo flooring & tankless water heaters, fully restored 1950’s O’keefe & Merritt stove, Paperstone counters, walk-in pantry and an 800-bottle wine room.

Beautiful glassed gate doors attach structures to make one seamless property.

The veranda is classic Spanish Revival.

How did the know this was my dream kitchen?

Now, kids, repeat after me, "O'Keefe & Merritt stove."

They put the "master" in bathroom.

Naturally-lit master bedroom.

This is living!

The way a Phoenix pool SHOULD look.

You’ve probably noticed by now that I am a huge fan of reuse and re-purposing in Phoenix. With all the available space downtown, why not?

The Cathedral Town homes are a great example of adaptive reuse. This building, which used to be owned by the church across the street as rental property, has transformed in to elegant and (actually spacious) urban condos.

The developer, Metro West Development,  took an historic 1913 building and converted it into four modern townhouse-style condo’s ranging in size from 1,674 to 1,886 square feet. Located about 200 feet away from the Arts District light rail stop, the condos are just a short walk from dozens of local restaurants, markets, large entertainment venues, as well as Hance and the Downtown Civic Space Parks.  And though the neighborhood surrounding is great, it’s what’s inside that really gets me excited.

Metro West Development has a history of great work in downtown renovations. The Cathedral Townhomes have been stripped to the bone and rebuilt.  While these homes have been updated, the developer has gone the extra mile to maintaining a historical feel. Homes come with new Kohler fixtures, quartz kitchen countertops, double hung windows (many original that have been restored), and historically accurate high baseboards.

Through the years, I’ve seen many renovations and I’m genuinely impressed by this one. Three of the units are still available. The condos are currently priced in the $200s with a 140/mo HOA fee.

I don’t represent these homes, but I’m happy to show you. Please contact me at 602-456-9388

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As you may have realized from the festive pink everything and Komen walk earlier this month, that October is breast cancer awareness month. One group, Don’t be a Chump! Check for a Lump! stays active all year round.

Next Friday November 4th from 5:30 to 8:30 Don’t Be a Chump will be holding their second annual Fall Fling Shopping Extravaganza. The event will support local artists and vendors while reminding men and women to examine themselves for lumps monthly and schedule their next mammogram.

I went to this event last year. It was amazing. Lots of very cool stuff. For instance, if you are a fan of Amy Love’s Love Buttons, then you need to be there.

In addition to their nearly monthly events, Don’t Be a Chump sends out monthly reminders through e-mail to anyone who signs up on their website. The goal of organizations like this, as well as Breast Cancer awareness month, is to increase awareness of the disease and to raise funds for research into its cause, prevention, diagnosis, treatment and cure. If you haven’t done your monthly exam and scheduled your next mammogram make sure you do it today!

The Fall Fling Shopping extravaganza will be held at 528 W. Lynwood, Phoenix, AZ 85003. More info can be found on the Don’t Be a Chump’s Website 

For more information on Breast Cancer Awareness Month visit their website and to find a certified mammography provider visit the National Cancer Institute.

You’ve heard me ramble on about how great it is to live in Central Phoenix. It’s the truth! CenPho is the place to live and offers residents so much that other cities just don’t offer.

But, check this out. Here’s another reason you should consider moving in to CenPho if you are not already here: a long commute may increase your chances of divorce by 40%. Really.

One recent study in particular conducted by the Umea University in Sweden showed that there was a large increase in the risk of divorce with an increased commute.

OK. I’m being a little facetious. But there is probably some truth here. The two hours you are NOT travelling to and from work you could spend with your main squeeze at the Phoenix Art Museum, or one of the upteen thousand new restaurants downtown.

One thing the study does not mention is the importance of the aesthetic on our lives. Even though Phoenix has torn town waaay too much of its architectural heritage, what’s left still gives people something that the burbs can’t –a sense of space and identity.

A sense of history really brings out the artistic side of people with architecture and individuality when it comes to homes and businesses.

The various cultures and demographics of everyone living in CenPho make it so unique and lively that there is something for everyone. I’m constantly reminded of Richard Florida’s book The Rise of the Creative Class.  Its kinda old news now. Remember when he came to Phoenix in about 2003 to speak and we filled up the Orpheum? Much of what he said has held true, despite the economic downtown

1) If you build an organic (versus top-down) community, the creative class will come.

2) Areas with dense urban centers and creative outlets survive economic downturn better than other areas.

This is true of Phoenix. We saw it ten years ago and we see it today.

I’m just sayin’.

I’ve had first time home buyer clients who are frustrated by how much distressed property there is in the market. They can’t afford a renovated home, but they can’t afford to fix up the property on their own.

Well, there is an answer.

The U.S. Department of Housing and Urban Development (HUD) offers homebuyers the opportunity to secure a loan known as a 203(k) loan. This loan is administered through the Federal Housing Administration (FHA) and gives homebuyers the necessary funds to rehabilitate a home.

Many times, a bank will be hesitant and may reject lending money when the home is not habitable. This is where the 203(k) loan comes into play and can help homebuyers obtain the necessary funds to not only buy the home but to purchase the necessary upgrades to make it habitable.

This loan is an incredible opportunity and is coming into play more now than ever since the housing market took a dive. With many people facing foreclosure, they stripped their house of everything that wasn’t, or was, bolted down leaving the house a complete disaster. This loan gives homebuyers the chance to come in and fix up the house.

This does two things: 1) increases the value of the home and surrounding area and 2) boosts the economy of the community by having another family living and buying in the area.

My friend Jeannie Bolger, of Nova Home Loans is well versed in helping you get these “fixer-upper” loans. Jeannie has been trained to help guide clients through the entire process.

But as with any mortgage, there are some criteria both the homebuyer and the home must meet:

1)      The homebuyer must meet FHA financing guidelines which means a FICO score of 640 or more and a debt to income ratio of 31/43 (see FHA for more info)

2)      The home must be the primary residence

3)      For the home to qualify, it must be existing for more than one year

4)      The work must be completed by a Licensed General Contractor – sorry do-it-yourselfers

5)      Work starts after you close on the home and must be completed within 6 months

There are also two types of 203(k)s that homeowners can choose from depending on the extent of the work required:

1)      Streamline 203(k) – this includes uncomplicated repairs and improvements to home up to $35,000 and no more than 2 subcontractors needed for entire project

2)      Standard 203K – this is for major repairs and improvements along with structural improvements to property exceeding $35,000 – up to 6 months PITI (principle, interest, taxes and insurance) can be included in mortgage if property cannot be occupied during construction. A Licensed General Contractor is needed if layered work is involved

These 203(k) loans are a great way to get our housing market back up and running. With a wide selection of homes in the Central Phoenix area, there is something for everyone.

And don’t forget, the Realtor, Lender, HUD Consultant and Contractor will hold your hand throughout the WHOLE process.

If you would like more information on the 203(k) loan, or just on homes in CenPho, give me a call today at 602-456-9388.

If I have to hear another person predict a massive “shadow inventory” I’m going to turn green, and you wouldn’t like me when I turn green.

Well, not really green, more like red with some veins popping out on my forehead and my head spinning around.

So what am I talking about? Well, I’m a news junkie and when I hear every pundit on TV prattle on about  a shadow inventory, like its the forthcoming of the “four horsemen of the house-pocolypse,”  Where is the data to back it up? If they were looking at the same data as I am, then they wouldn’t be saying this nonsense.

I mean, come on, just do some quick research and see for yourself. The Cromford Index is the best guide out there and comes directly from the MLS as well as the county court and recorder’s documents. I would say those are just a teensy bit credible, I mean after all, they take the information directly from sales, right?

Yeah, that’s what I thought.

So what exactly is a shadow inventory? At its core, shadow inventory refers to properties, which are on their way to foreclosure or are already foreclosed that have not yet been sold or put on the market (for whatever reason, we don’t know).

Well, here is why there will be no shadow inventory in the Phoenix area:

1)      A house will not be part of any inventory of foreclosed homes until it has been given a foreclosure notice (see “Pending Foreclosures” on the graphs below). Even if it is a short sale, it probably has a foreclosure notice pending, so it is likely part of the big purple area below. A foreclosure notice is when the bank sends you a note to say, “Dearest customer. We noticed you stopped paying your mortgage. While we love you very much, we will throw your sorry butt out on the street by such and such date unless you pay up. Signed, Your Favorite Bank.”

(Click on graphs to enlarge)

That’s it. That is all there is. You could try to argue that more homes are going to go in to foreclosure because the economy is going to go in to a double-dip recession, but it is waaaay too early to predict that. Further, the foreclosures are going down because the market is clearing of those properties that were purchased at the peak of the market. There are just fewer of them now.

So, please. Tell your friends. Tell your family. Tell your neighbors and strangers whom you don’t even know.

Let’s put this shadow inventory myth to bed for good…

If you are buying a house, this means the inventory is dropping and prices are going to go up. So, don’t delay. If you are looking to sell a house, times are getting better for you. Either way, call me at 602-456-9388.

Did you notice how some major stores are starting to close up shop in urban settings which in turn is affecting the surrounding areas?

I’m talking about major stores such as Target, Best Buy, even Safeway – these stores are considered “anchor stores” because they “anchor” and are supposed to bring stability to the local area. That Target at 7th Ave and Camelback has been closed for a couple years now.

So, what happens when one of those stores closes its doors?

I started thinking about this over the weekend after hearing an interview on National Public Radio about the subject and they used the book store Borders as an example since they are closing up stores after filing for bankruptcy.

You may be thinking the same thing I was at first that with these anchor stores leaving, the surrounding neighborhoods and community would be greatly affected in a negative way. Well, in many cases that may be, but for cities and developers who get on the ball, these closures can lead to positive developments.

If approached with the right mindset by city leaders, smaller stores and boutiques can come in and flourish, filling the void and revitalizing the area. This is what makes the Central Phoenix area so amazing! There may not necessarily be major anchor stores in the area, but it’s the artistic boutiques and small shops that fill in the holes like grains of sand between large rocks that make the area a solid and thriving community!

Most of you probably remember when, Richard Florida (of the famed book Rise of the Creative Class) came to town in about 2003. The interview on NPR with a Brookings Institute researcher really just backs up the same arguments.  Although major anchor stores leave and are replaced, as long as there is a culture that brings people together, you will have a community.

Further, a few failed stores in a whole line of smaller stores has less of a devastating impact that the loss of an anchor store.

This is what makes Central Phoenix such a dynamic micro-economy and why I love working and selling homes in the area. There is so much life and vitality that is often missing in other areas. There has been so much work done over the past decades to revive the area that just makes it the place to live!

I’ve love to hear what you think about this.

If you were one of those homeowners who had a foreclosure recently, did you know that you could become a homeowner again sooner than you think?

There is no doubt that a foreclosure affects your credit score, but according to Jeannie Bolger, Senior Loan Officer with Nova Home Loans, it all depends on your situation.

“After a foreclosure, your credit score will definitely go down between 100 and 200 points on the credit FICO score,” said Bolger. “But it’s a tough question because everyone’s situation is so different and it depends on past payment history, mortgage late payments and debt.”

But Bolger also said the waiting period after a foreclosure for an FHA loan is 3 years, for a VA loan it is 2 years, and a conventional loan is 4 years. Although this seems like a long time, it is a perfect time to re-establish your credit and make yourself more desirable for a loan.

And if you did foreclose on your home, Bolger believes there are some important tips you need to follow.

“Do not overbuy and really know what your budget is,” she said. “Have an emergency fund to allow for ‘unexpected’ emergencies and have a savings account to make mortgage payments if you lose employment or get sick.” Have your credit run 6 months after the Foreclosure by a mortgage professional so you will be better prepared to meet the minimum FICO score requirements required by the loan terms.

If you or someone you know foreclosed on a home, there are options available to ensure homeownership again. The US Department of Housing and Urban Development offers tips about foreclosure and information about the process.

If you would like more information on what it takes to buy a home again after foreclosure, give me a call today at 602-456-9388 and I can find you the perfect home in the valley!

Let’s face it, everyone and their grandmother has a cell phone these days.

Aside from the fact that teenagers can’t hold a conversation that includes eye contact, they are great things.

They are so amazing that 90% of Americans send text messages. This is a staggering number! I wonder if they count the “ppl wh txt w/o vwls”?

Another increasing trend is the number of Americans using smartphones! Over 34% of Americans use a smartphone in their daily life and that number is only increasing.

So what does this have to do with you? Well, if you are selling a house, there are new ways to give buyers instant access to information about a home! The number of people using apps, text messages, and a new thing called Quick Response code, or QR for short, are on the rise.

This is what I am most interested in when it comes to using this new technology as an advantage.

Remember last week’s blog post about how short sales are an increasing share of the Central Phoenix market? Unfortunately, this is the new reality for at least the next few years. But if you need to short sell your home, don’t worry! Using tools such as text messages and QR codes, I can help your home get seen above the other homes on the market. (See also my post from yesterday on other Short Sale Resources I’ve developed.)

Want to know how it works? It’s so simple and you can try it yourself!

Text the special 6-digit code on the flag to the number and you will receive information on this house.

Or, if you have a smartphone and a barcode scanner app on your phone, scan the special code and you will be directed to a special website with information on the house.

HOW COOL IS THAT?!?

Using this technology is a great idea and can really help increase the number of people that view the home. Using the old-fashioned flyer box is fine; the problem with those is the fact that you will have to continuously check and replace the flyers otherwise there might be a missed buyer.

Smartphones are amazing pieces of technology and having the ability to quickly access information can make buying or selling a home much easier.