Average selling prices were $135,000 for single family homes and $99,000 for condos and duplexes. Interest rates are at a 37 year low now. This, coupled with the first time buyer's refundable tax credit of up to $8,000 makes today the best time to buy a home in the memory of most agents in the business today.

Jim Little, your Sun City REALTOR

Sun City has 11 golf courses, 3 of which are country clubs. For those who don't golf, Sun City has 7 recreation centers offering sports includin swimming and tennis and pickleball to name a few. Each recreation center has a pool, as well as facilitied for every imaginable hobby, kept current to reflect today's interests and desires. One example is the personal computer clubs. It was 24 years after Sun City was started that the first personal computer was commonly available. At this time there are over 140 activity clubs. Rec fees are currently $420 per couple for a year (4/1/07) Golf fees range from $13 per round in the summer, (Yes we do golf in the summer) to $1186 unlimited as of Oct. 2006.

We are a proud neighbor and supporter of Luke Air Force Base, about 6 miles west. Luke provides services to our many veterans and military retirees.

All of the services you could desire are in Sun City and the immediate area. Malls, shops, hotels, restaurants, medical and hospitals are all convenient.

Homes and condominiums for sale in Sun City range from a studio condo listed for $69,500 to a 5 bedroom custom at $725,000

For more information on Sun City, please fell free to contact me

Jim Little, your Sun City REALTOR® 800-877-1776 or 623-521-6768

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

MLS # 4150795

Offered for only $140,000

Enter this fine 2 bedroom, 1.75 bath home through the Saltillo tiled courtyard, a beautiful place to enjoy breakfast, cocktails, or just sit and watch the world go by.

The home has a light and bright kitchen with breakfast nook, all appliances are included. It also has a large living/dining room with neutral plush carpeting. The spacious Arizona room opens to a covered, screened patio on the north side. It is a perfect to enjoy alfresco dining.

Also included are a 2 car garage and a utility/laundry room with washer and dryer.

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

"What is the market going to be like if I buy a home today?"

Unfortunately, in the short-term my answer has to be, "I don't know".

I have never been an agent who recommends short-term purchases, flips or investor remodels, so I have to give my clients my long-term answer.

In the long-term I look the the history of how the market in the Sun City neighborhood has behaved over the last 5 years.

In spite of the price decreases since the 2005 "Bubble" market, the Sun City Neighborhood real estate market has performed well,  with an appreciation rate of 30+% in Zip code 85351 in the 2003-2008 period, and an appreciation rate of 43 % in 85373 over the same time frame. (Source, Arizona Republic, 3/22/2009)

It looks like real estate beats the stock market doesn't it?

With today's low prices, plentiful inventory, and hisotrically low interest rates PLUS and $8000 refundable tax credit from the government, isn't now a great time to buy?

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

    After doing hours of research, I am sad to say the plan is disappointing to say the least. Looking at just two of the valley’s many communities here are my findings.

Sun City Arizona, a retirement community, average sales price in 2006 = $224,414. In 2008 the average was $179,139, a 20% loss in value.

Surprise Arizona, a family community, average sales price in 2006 = $273,244. In 2008 the average was $$204,477, a 25% loss in value.

The Arizona Regional MLS reported decreases of up to 30% in overall.

    Mr. Obama emphasize the plan was to help “responsible borrowers”. After careful reading of the speech and further explanations on the White House blog site, it is obvious that “responsible borrowers” EXCLUDES:

VA (Our honored Vets aren’t responsible?)

FHA ( A government sponsored program to broaden homeownership)

ALT-A

    ACCESS TO REFINANCING:    

This plan is available for “responsible borrowers” with a conventional, conforming loan and a property with an appraised value greater than the current mortgage value. The plan hopes to allow borrowers to take advantage of today’s lower interest rate, resulting in lower monthly payments. It also allows borrowers to refinance with resulting loan-to-value ratios greater that 80%. It requires that the new loan and costs be no more than 105% of current market value.

The problem with this plan is that a conforming loan, the target of this plan, had a 20% down payment requirement. Valley home values have dropped 36% or more between 2005 and 2008. There is no way an average Phoenix area home will qualify under this plan.

    HOMEOWNER STABILITY INITIATIVE

This plan seems to address the Alt-A and sub-prime loans of recent years. If the value of the home is lower than the mortgage balance, the borrower MAY be eligible for a government sponsored modification of that loan for FIVE years.

1. The current lender must lower interest rate to the level that the borrower’s debt payment is now 38% of income.
2. The government and the current lender will SHARE further reduction to lower the resulting payment to 31% of income.
3. If the borrower stays current during the five year period of this modification, the borrower will earn $1000/year credit to principal.
4. After five years the payments will increase at a “moderate”, rate, phase over an undetermined amount of time. Unsaid is how much is “moderate”?

The problem is this plan requires the participation of the current lender. Lenders have been notorious in failing to participate in modifications and workouts so far. This is one of the reasons why the project Hope has been such a dismal failure. Some carrot and stick must be applied to this program to make it work. Anything less makes this just a feel good measure.

    Noticeably absent from the current proposals is any plan to encourage buyers to buy existing foreclosed properties. These properties must be absorbed before any meaningful recovery can occur.

    I believe every incentive should be made available to first-time buyers to get them to buy these properties. This should include low down payment FHA loans, expedited FHA 203K (rehabilitation loans), tax incentives, just to name a few ideas.

Jim Little, Sun City REALTOR®

These concerts occur almost every weekend during the fall in Sun City, and are free to RCSC members (all homeowners in Sun City Belong) and their guests.

The October Sun Bowl Concert schedule is:

10/5/08 6:30 p.m. Desert Winds Community Steel Orchestra, Latin, pop, and island tunes.

10/12/08 6 p.m. Arizona Winds, an adult concert band, traditional band music etc.

10/19/08 6 p.m. The Orpheus Male Chorus of Phoenix, founded in 1929, 17 years after Arizona became a state!

10/26/08 6 p.m. Riders of the Purple Sage, classic cowboy/country sounds celebrating our western heritage.

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

Do you really believe that an agent in a metropolitan market can “Specialize” in residential, rental, commercial, land business opportunities, etc? Really? These claims are simply a way of saying there is no specialization, the agent has NO area of specialization, and will grab at any opportunity to make a buck.

It is exactly the same thing with geographic specialty claims. It is about 50 miles from Sun City AZ. to Gilbert AZ. Can an agent in Gilbert “Specialize” in Sun City?

It is often stated “All Real Estate is Local”. Only a local agent can tell you about the particulars on a neighborhood you wish to buy in. Only a local agent will have the contacts amongst agents selling in a neighborhood to help you sell your home.

It is even more important to sellers to have a local agent when the property is vacant. Who is more likely to check your home after a storm, the agent who lives and works nearby, or the agent who is located across the valley?

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

Here are some solution suggestions for dealing with either of these issues.

Are you a prospective buyer who doesn’t like the kitchen, carpet or…? Just get a buyer’s agent who has the mortgage contacts to help you get a Renovation Loan like FHA’s 203K program, or a conventional lender’s similar program.

If you buy an eligible home using a renovation loan, you don’t have to settle for an outdated, inefficient floor plan, ugly carpet, or a home with a great location but not enough space.

Renovation loans can be used for almost any remodel or improvement that will ADD VALUE to the home being bought, up to the FHA area maximum home value. In Maricopa County that is currently $346,250.

There are some qualifications and requirements that MUST be met, and it is imperative that you get good, competent advise from your agent (should know the neighborhood very well) and from a qualified lender. (Please note, not all lenders are qualified to underwrite and fund these specialty loans)

Do you have to sell a home? Are you finding buyers don’t want your outdated home, no matter how low you price it?

Why not select a selling agent familiar with these loans and work with that agent and his mortgage lenders to market the home toward the Renovation buyer? It might help you overcome the 1970’s kitchen, the worn out Avocado Green carpet, the lack of a great room the lack of a garage or home office

Are you interested in the fantastic opportunities in the Foreclosed properties now available?

You probably know that most foreclosed properties are in poor condition. What better way to use a renovation loan than in the purchase and rehabilitation of these homes? An experienced agent, teamed with a professional mortgage banker can help you achieve your goals, and may help you get more house for your housing dollar than you ever dreamed possible.

Don’t be left behind, call today to start your new home search.

Jim Little, your Sun City REALTOR®

Please visit my Web Site, suncityneighborhood.com where you can search the MLS with no registration for free.

It is presumed that the agents not renewing are either agents who are retiring, were part-time, or who had licenses during the boom times and are not willing to put the time and effort into competing in today’s market.

I hope that the remaining agents are the professional level, active agents with a commitment to the real estate industry, and to the clients and customers. I also hope that this will lead to a higher level of professionalism and client care than has been the case in the last several years.