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Friday, May 29, 2009

FHA approves the use of the $8,000 first time buyer tax credit as downpayment funds!

FHA has approved the use of the $8,000 first time buyer tax credit as downpayment funds for first time buyers, as of May 29th, 2009.

View more specific information on FHA's website


Tidbits about how this will work from FHA's website:

Secondary Financing

Consistent with existing FHA policy, FHA will permit entities covered by Section 528 of the National Housing Act to use the current authority to offer tax credit advances with second liens in a manner consistent with the requirements in 12 U.S.C. 1709(b)(9). Eligible government agencies and instrumentalities of government are described in handbook HUD-4155.1 5.C3 and 5.C4.


Conditions:
• The tax credit advance, when combined with the FHA-insured first mortgage may not result in cash back to the borrower.
• The second lien may not exceed the total amount needed for the down payment, closing costs, and prepaid expenses.
• Secondary financing may be “soft” (silent) or require a monthly repayment.
• If payments are required, they must be included within the qualifying ratios and, when combined with the first mortgage, cannot exceed the borrower’s reasonable ability to pay.
• Payments must be deferred for at least 36 months to not be included in the qualifying ratios.
• If the tax credit advance loan has a short term for repayment, it must also provide that if the borrower fails to repay by the designated deadline, principal and interest payments begin automatically or the loan converts to a “soft” second.
• The secondary financing may not require a balloon payment before ten years.

Wednesday, May 27, 2009

UNDER CONTRACT-1513 W. CULVER ST!

UNDER CONTRACT!
1513 W. CULVER ST.
PHOENIX, AZ 85007
3 BEDS, 2 BATH
$275,000
MLS #4175453



1930 Spanish Revival located in desirable Historic FQ Story district! Great location in the heart of downtown! A truly one of a kind jewel from the past! Past visual award winner!

New & refinished Oak hardwood flooring throughout! Large living room w/original stone fireplace & separate formal dining room! Custom stained glass in living room and hall bath! One-of-a kind chimney art!

New tile in brand new bathrooms! Hall bath features black and white tile, pedestal sink, wainscoting, and tub/shower with newer door!

Professionally landscaped w/new watering system in front & back with low voltage lighting! Custom paint throughout! Updated copper plumbing & electrical, newer roof & newer air conditioning! Wireless alarm system! Windows have been restored!

White recessed panel cabinetry, tile counters & stainless appliances in the galley kitchen exude charm! The pantry is also great storage and is located right next to the inside laundry with stackable front loading washer and dryer! Cellular shades!


Breakfast room overlooks sparkling diving pool w/new plaster & decking and a new pressure-treated and stained wood gazebo and large covered patio that are perfect for entertaining! New pool pump! Terra cotta cool decking paired with flagstone stamped concrete on the covered patio gives a distinctive look. There’s even a tuff shed in the side yard! The grassy area and fountain really make the space. At night the lighting on the tress looks awesome!


There was an add-on in 1961 which is a great sitting area! French doors lead to the back yard. For extra security and energy efficiency, roller shields have been added.

The master addition was built as a nursery and is perfect! The master bath features black and white tile, California closet system and gray wainscoting. Faux wood blinds complete the master suite along with the contemporary 3 blade ceiling fan.


The home office features sconces and fabulous winter green paint with custom shoe storage in the closet! All bedrooms have California closet organization systems!

Don’t miss out on this home that is not just a cosmetic rehab!

Monday, May 18, 2009

New listing in FQ Story!

1513 W. CULVER ST.
PHOENIX, AZ 85007
3 BEDS, 2 BATH
$275,000
MLS #4175453



1930 Spanish Revival located in desirable Historic FQ Story district! Great location in the heart of downtown! A truly one of a kind jewel from the past! Past visual award winner!

New & refinished Oak hardwood flooring throughout! Large living room w/original stone fireplace & separate formal dining room! Custom stained glass in living room and hall bath! One-of-a kind chimney art!

New tile in brand new bathrooms! Hall bath features black and white tile, pedestal sink, wainscoting, and tub/shower with newer door!

Professionally landscaped w/new watering system in front & back with low voltage lighting! Custom paint throughout! Updated copper plumbing & electrical, newer roof & newer air conditioning! Wireless alarm system! Windows have been restored!

White recessed panel cabinetry, tile counters & stainless appliances in the galley kitchen exude charm! The pantry is also great storage and is located right next to the inside laundry with stackable front loading washer and dryer! Cellular shades!


Breakfast room overlooks sparkling diving pool w/new plaster & decking and a new pressure-treated and stained wood gazebo and large covered patio that are perfect for entertaining! New pool pump! Terra cotta cool decking paired with flagstone stamped concrete on the covered patio gives a distinctive look. There’s even a tuff shed in the side yard! The grassy area and fountain really make the space. At night the lighting on the tress looks awesome!


There was an add-on in 1961 which is a great sitting area! French doors lead to the back yard. For extra security and energy efficiency, roller shields have been added.

The master addition was built as a nursery and is perfect! The master bath features black and white tile, California closet system and gray wainscoting. Faux wood blinds complete the master suite along with the contemporary 3 blade ceiling fan.


The home office features sconces and fabulous winter green paint with custom shoe storage in the closet! All bedrooms have California closet organization systems!

Don’t miss out on this home that is not just a cosmetic rehab!

Monday, May 4, 2009

NEW LISTING: 2/2 model perfect townhome in gated enclave at Las Sendas

Quick Details:

7445 E. Eagle Crest Drive #1121

Mesa, AZ 85207

1347 square feet

2 bedrooms

2 bathrooms

$215,000

MLS # 4167626



View Virtual Tour And Photo Slideshow Here!


View More Information On Our Website www.TwinsAndCoRealty.com!



LOWEST PRICE IN CACHET AT LAS SENDAS! Camelback & Red Mountain views! This model home perfect, ,turn-key townhome is updated with designer accents. Home features neutral carpet and ceramic tile flooring, paired with warm paint tones. The great room features a tile-lined gas fireplace and a formal dining area, with access to a private walk-out deck. A 2nd deck is located off the 2nd bedroom. The kitchen features recessed panel maple cabinetry, double basin sink & Energy Star appliances. The master suite is split from the 2nd bedroom & features a walk-in closet & full bathroom. Residents can enjoy Cachet's pool & fitness center, along with the endless Las Sendas amenities including 25 miles of hiking trails, championship golf,6 tennis courts, various sports facilities, clubhouse & community pools/spas.













































Offered by



Twins & Co. Realty

Jennifer Hibbard, P.C.

REALTOR, Owner, ABR, GRI, Eco-Broker, B.S. Marketing

View our website at www.TwinsAndCoRealty.com

E-mail me at J@TwinsAndCoRealty.com