Upgraded three bedroom Scottsdale home for sale located within the McDowell Mt Ranch community.  Floorplan includes vaulted ceilings, kitchen with granite countertops, under mount sink, maple cabinets with crown molding, bathrooms also include granite counters, tile throughout.  Needs new carpet.

This beautiful Scottsdale home for sale is priced at $280,000 and is offered $45,000 below market value through Monday October 12, 2009.  Then it will go into AZ MLS at $325,000.

The total monthly payment (excluding HOA) on this home with an Arizona FHA loan at 5% would be $1,855 per month.  All offers on this home MUST be accompanied by an underwritten loan approval.

Scottsdale AZ homes for sale - McDowell Mountain Ranch

Home Features; 3 bedrooms, 2bath, 2 car garage and 1548 square feet.  The property taxes for 2008 were $2,271

When it comes to Scottsdale, Arizona activities for the whole family to enjoy, McDowell Mountain Ranch features a wide selection of amenities for outdoor and indoor use. This family oriented community was designed for those living an active lifestyle. Scottsdale McDowell Mountain Ranch homes for sale offer convenient access to these great facilities: a five acre park, a community center with a swimming pool, spa, and courts for basketball, tennis and beach volleyball as well as the wildly popular splash fountain. Several miles of trails for running, walking and getting around connect the area neighborhoods and public buildings. If you’re interested in Scottsdale McDowell Mountain Ranch homes for sale you may fill out an information request and we will contact you regarding your specific requirements.

My wife and I form one of the most successful real estate and mortgage teams in the country.    Our SmartBuyer System is GUARANTEED to save every Scottsdale AZ homebuyer a minimum of $50,000, so hiring the right advisers MAKES A DIFFERENCE!

Call our office at (602) 291-4362 to see how our SmartBuyer System can save you at least $50,000 when buying and financing a home.

Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362

cforms contact form by delicious:days

Here is a monthly snapshot on market and AZ foreclosure activity for Arizona Realtors and buyers:

AZ foreclosure activity continues to be very strong.

Download a graph of sales activity for the last 30 days

Southwest Valley-REO active listings represent 16% of the total listings, and 50% of the sales for the last month.

Peoria and Glendale-REO active listings represent 17% of the total listings, and 54% of the sales for the last month.

Compare to Scottsdale- REO active listing represent 6% of the total listings, 29% of the sales for the last month.

Just a couple of things to note:

1. 94% of sales for the last month are under 400,000.

2. 18% of sales for the last month are approved Short Sales

3. 50% of sales for the last month are REO properties.

The Valley is sitting at a 5 months supply overall. Here is a breakdown by area;

Ahwatukee 6.3 months

Scottsdale 9.2 months

Apache Junction 5.0 months

Camelback Corridor 7.5 months

Cave Creek 6.4 months

Fountain Hills 14.4 months

Goodyear, Litchfield, Avondale, 3.0 months

Luxury Valleywide 34.4  months

Peoria and Glendale 2.9 months

Paradise Valley 19.3 months

To receive a daily list of new foreclosure homes, visit this site!

To receive a daily list of homes by your specific search criteria, visit here!

To learn how to buy a home with $100 Down Payment, visit this site!

For more information, call my office at (602) 291-4362

About This Program:

If you’re looking for a great deal when you buy your new home, you should look at HUD homes.  They have a program that allows you to buy a HUD home with only $100 down.  You will be required to put up some earnest money, but it will be refunded at closing if you get an FHA loan and your offer is accepted.

For homes below $50,000 the deposit is $500 and for homes over $50,000 the deposit is $1,000.  HUD pays up to 3% of your closing costs which usually is enough to cover them.  Normally an FHA loan requires 5% down, but with this special program, you only need to put down $100.   Talk about saving some money!!!

What the heck is a HUD Home?

Also known as HUD, the U.S. Department of Housing and Urban Development was established in 1965 to develop national policies and programs to address housing needs in the U.S. One of HUD’s primary missions is to create a suitable living environment for all Americans by developing and improving the country’s communities and enforcing fair housing laws

HUD helps people by administering a variety of programs that develop and support affordable housing. Specifically, HUD plays a large role in homeownership by making loans available for lower- and moderate-income families through its FHA mortgage insurance program and its HUD Homes program. HUD owns homes (acquired through foreclosure) in many communities throughout the U.S. and offers them for sale within certain guidelines and requirements. HUD also seeks to protect consumers through education, Fair Housing Laws, and housing rehabilitation initiatives.

Now an agency within HUD, the Federal Housing Administration was established in 1934 to advance opportunities for Americans to own homes. By providing private lenders with mortgage insurance, the FHA gives them the security they need to lend to first-time buyers who might not be able to qualify for conventional loans. The FHA has helped more than 26 million Americans buy a home.

The FHA works to make homeownership a possibility for more Americans. With the FHA, you don’t need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down payments than conventional loans. In fact, a FHA down payment could be as little as a few months rent. And your monthly payments may not be much more than rent.

Lender claims paid by the FHA mortgage insurance program are drawn from the Mutual Mortgage Insurance fund. This fund is made up of premiums paid by FHA-insured loan borrowers. No tax dollars are used to fund the program.

A HUD home is one that had an FHA-insured mortgage which has gone into foreclosure.  HUD pays off the bank and then puts the property up for sale to get some of their money back.  The price is set from a recent AS-IS appraisal, which is the price the house would most likely sell for in today’s market in its current condition.

So how do HUD homes get sold?

The house is sold through an auction process where all the bids are sealed.  To qualify for the $100 down program, the offer must be for the full sale amount and the bid will go to the buyer with the highest offer.

And who gets to buy a HUD Home?

Anyone who qualifies can buy a HUD home.  Initially, bidding is only open to owner occupied buyers; however, if no bid has been made after a period of 10 days, properties are made available to all buyers, including investors.

So how do I buy a HUD home?

Buying a HUD home is a lot different than buying a regular house.  For a conventional purchase, usually you write up an offer, the seller looks at it and then accepts it or makes a counter offer.  As stated before, HUD homes are sold through an auction.  You can bid anything you want, but the home usually goes to the highest bidder and if you want to take advantage of the $100 down program, you must offer full price.

Most importantly, call my office at (602) 291-4362 to discuss your options.

Watch for Part #2 of this blog post in the next few days.

RAISE MY CREDIT SCORE – Learn How

View the BEST ONLINE Mortgage Calculator

Bi Weekly Mortgage Strategies To Be Debt Free in 10 years or less!