Everything Fountain Hills!

Goodbye 2008! Hello 2009!

I hope that you are all enjoying this holiday season and are ready to ring in a fabulous New Year!  I know that 2008 was disappointing for many so let's try to focus on the positive.  This time will probably go down in history as one of the greatest buyingopportunities for many things. Particularly, stocks and real estate.  While no one has a crystal ball to know exactly when we have hit bottom. A smart investor knows to purchase when prices are down (not necessarily the bottom) and sell when prices are higher (not necessarily the top). This is an absolute buyers market! 

Now, look at the price of gas... I saw a station last week had it at $1.34 a gallon!  Did you ever think we would see that again? Car dealers and retailers are slashing their prices, mortgage rates are down... what are we waiting for?  Let's all go out and do our part to stimulate this economy!  After all, as the 'experts' will tell you, by the time they acknowledge we are in a recession we are half way out of it.  So let's say goodbye to '08 and hello to '09!

May you all have your best year ever!!

A Sage Idea

This is really a hidden treasure. They are primarily a personal catering service, so keep them in mind for your next party or event.  Luckily, their cafe is open for lunch on Wednesday and Thursday from 11 - 2 PM.  I would HIGHLY recommend their Cuban sandwich.  It's slow cooked pork roast is cooked to perfection with just the right spices. They are located at 12015 N. Saguaro Blvd. #102
Fountain Hills, AZ 85268 - (480) 816-1557 or you can vist them on the web at ASageIdea.com. 

Bon Appetit!

Current Market Conditions

It's a GREAT time to be a Buyer! The prices are down to about what they were in 2003-2004 and the selection has never been better. It was officially announced in the Arizona Republic that Phoenix was at the top of declining home prices with a 30.7% drop in the last year. Ouch!! However, homes in Fountain Hills are only down about 15%. About 60% of home sales have been Short Sales or Foreclosures and that continues to drive the prices down. As of December 1st, there are currently 839 homes for sale in Fountain Hills with 522 of those being single family homes. The average price is $752,713. There are 52 homes currently in escrow with an average price of $654,259. The average days on the market were 173. Sellers be patient! There were only 28 homes that sold/closed escrow in November with an average sales price of $401,329. That's a pretty low number of closings. I think we should see things pick-up a bit now that the election is over. Overall, with prices down and interest rates dropping, it's a great time to buy! Call me today at 602.400.0250 or toll free at 888.311.4833!!

Fountain Hills Demographics

Welcome to Fountain Hils!  Located just east of Scottsdale and only 25 minutes from Phoenix Sky Harbor Airport. Fountain Hills currently has a population of about 24,000 people and was voted the #1 Place to Live in the Phoenix Magazine!  Truth be told, Fountain Hills is more of a way of life than your ordinary town.  The exceptional views, prime location and friendliness of the people all work in conjunction to create a lifestyle that is truly unique. Remarkably, stress levels seem lower, and smiles seem to appear more frequently in Fountain Hills. It must  be the delightful combination of year-round mild temperatures and a diverse population from young families to retired executives.

• Population: 23,820
• Population Growth Since 1990: 138%
• Median Age: 45.13 years
• Highest Education Level Attained: High School 16.52%, Bachelors 18.2%, Grad School 11.23%
• Average Household Income: $82,681
• Average Household Net Worth: $726,320
• Total Crime Index: 49 (100 = National Average)

Fountain Facts

Fountain Hills just wouldn't be fountain hills without--The Fountain! The Fountain is listed in Guinness World Records as the tallest fountain in the world.

Visitors come from all over to see the Fountain. Here are some facts about the famous Fountain Hills Fountain:

The Fountain has been operational since 1970.
 
When the fountain is operating, it has a column of water that can reach 562 feet in height.

The Fountain is set in the middle of a 30 acre lake. It spurts a column of water for 15 minutes every hour on the hour between 10 a.m. and 9 p.m., unless weather conditions (wind) prohibit it.

If the wind reaches 10 MPH, the Fountain automatically turns itself off.

On most days, the water from the Fountain only reaches a height of about 330 feet. That's because there are three pumps operating the Fountain.

Usually, only two are in use, with one of them being a backup. When all three pumps are operating together, water stream can get as high as 560 feet.

You won't hear the fountain when it is working--it's very quiet!

Once a year, on St. Patrick's Day, the Town of Fountain Hills adds color--green, of course--to the water.

 

Oh Canada!

There has never been a better time to buy real estate in Arizona! There is an unbelievable selection and prices are back to about 2003-2004! There are many reasons to buy real estate in the United States. If you're Canadian, parity of the two currencies (USD and CD) could be one of them. While I'm not going to make a recommendation on the wisdom of purchasing real estate in Arizona, I would like to inform you of what you might expect when financing a home as a foreign national. If you are considering a second (vacation) home in the United States the terms are a bit more favorable for you. The following is a list of requirements you can expect when obtaining financing:

1. Copies of passport and visa.
2. Last two pay stubs.
3. Last two bank statements.
4. Last two years tax returns. If self employed, a letter from an accountant stating how many years you've been in business, and business tax returns.
5. Verification of 2 years employment history.
6. International credit report - lender will order.
7. Set up American bank account for transfer of money.
8. Generally, the lender will require 25% to 35% down payment.

Of course, it wouldn't hurt to have a great real estate agent! For additional information on Fountain Hills real estate or any other communities you can contact me direct at 602.400.0250 or email me at Lisa@ISellFountainHillsAZ.com.

Housing and Economic Recovery Act of 2008

At a recent RMS Realtor meeting, we had a panel of local mortgage brokers and real estate brokers discussing and taking questions on the new H.R. 3221.  It was obvious to me that most people don't seem to know a whole lot about it!  So, I've done a little research and bill give you some of the key points to know.  Then, I would love to hear from you with any questions you may have.  This ought to force me to get to know it pretty well!

• First-time Homebuyer Tax Credit - 10% of cost of home not to exceed $7500.
• Purchase on or after April 9th, 2008.
• Any single-family, principal residence (including condo's) are eligible.
• Reduces income tax liability for the year purchased.
• Income limit of $75,000 single and $150,000 on a joint return.
• Purchaser (and spouse) may not have owned a principal residence in the previous 3 years.
• 6.67% of credit ($500) to be repaid each year for 15 years.
• Terminates July 1st, 2009.

I look forward to hearing from you!

Lisa...

Welcome to my blog!

 

Thank you for visiting my Everything Fountain Hills blog!  My goal is to provide fresh and relevant information about this great community. Perhaps you are a current resident and want to keep updated on what's happening around town or maybe you are contemplating a second home or a relocation to this area. In either case, this blog is for YOU!  I welcome your questions and comments about any subject you are interested in.  If I don't have an answer I will find one in a timely manner. Of course, you will also find lot's of real estate updates on this blog as well! Check back often, since this is a work in progress and being updated frequently.  I look forward to hearing from you!

Lisa...