Mark Finchem's (mfinchem) Blog

How is Tucson doing? The sub $175k market continues to show strong sales and low Months of Inventory figures for many areas of town. Above $175k we are still seeing a higher Months of Inventory. For your sellers, this is a critical piece of information. If they are in price range above $175k you ...

New release!  The newest version of the Home Buyer Tax Credit is now taking aim at what some are calling "Movers".  No matter if your moving up in size, down in size, across te country or just across the street you are a mover. The site link is http://mfinchem.longrealty.com/Content/Content.aspx?...

With any new program there are questions about what can be done and what can't.  here are a few relivant facts for both first Time Home Buyers and the group many professionals are calling "Mover's". Fact #1...Existing homeowners can use the credit.  The question I have had to answer several times...

The Treasury Department has just released new rules to help simplify the 'short sale' process.Visit https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf to view the full article. This is a 43 page document that details what and how.  The Supplemental Directive 09-09, "Help For America's ...

People buy homes for many reasons but nearly all view the purchase as an investment.  As such confidence in value usually plays the biggest roll of all.  I've heard it said often, "the buyer sets value".  For if there is no buyer willing to pay what the seller wants, there is no transaction and t...

Buyers need to know and we need to educate people that if interest rates go up just one percentage point, to six percent, as the New York Times suggests analysts are predicting, that will raise the cost of purchasing a home and wipe out a $10,000 decrease in price. Some buyers are sitting on the ...

REALTORS work in the ultimate pay for performance environment.  We don't get paid if we don't perform and we are held accountable for everything we do.  So, if we are held to the high standard of care and ethics (NAR Code of Ethics), shouldn't the rest of the players in the system also be held ac...

I recently attended a closing with a client -first time home buyer- who commented on the AED hung conspicuously on the wall near the Escrow Officer's private office. He asked, "Is that for resuscitating people who have a heart attack when they see the final cost?"  A few minutes later my young bu...

WOW!  The Your Way Home Arizona Program is a program that is now officially open and ready for approved buyers. The state of Arizona has created a program that will allow buyers who qualify to access a grant of 22% of the purchase price if they buy bank owned foreclosure properties. These propert...

The suspense is over.  The President signed the Bill effectively providing an extension and an expansion of the Homebuyer Tax Credit.  There are still some unanswered questions out there and we are waiting for some of them to get cleared up.  The Bill now will cover a large majority of homes in t...