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Freddie Mac Community Auction

Monday, July 26, 2010

by Cindy Flowers

When: Saturday Aug. 7, 2010

Where: Phoenix Convention Center - West Ballroom 100 N 3rd St, Phoenix, AZ 85004

Time: Registration Starts Promptly at 12:00 p.m. Auction starts promptly at 1:30 p.m.

What to bring: Last 2 years W-2, last 30 days pay stubs, last 2 months bank statements, recent utility bill, $1,000 Cashier's Check - Checkbook for balance of 3% Earnest Money Deposit.

Properties open for inspection from 12PM to 4PM on 7/24/10, 7/31/10 & 8/1/10. Please check individual property for specific open house information.

Winning Bidders at this auction qualify for the following: Two year Limited HomeProtect Home Warranty** and Up to a 3% Buyer’s Closing Cost assistance.

**On properties with a total purchase price of $25,000 and higher.

ATTENTION BIDDERS, BROKERS & AGENTS: You must click on the orange button to the right to register for this exclusive, not open to the general public, auction. Buyers' agents who register will earn 3% commission. Please see our Terms and Conditions for more information.

FREE COMMUNITY FAIR from 11:30am - 1:30pm. Please view the brochure for more information.

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Should I Buy a Home Now?

Monday, June 28, 2010

by The Bill and Cindy Flowers Team

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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