Rent a Vacation Home and Save

High fuel costs and a shaky economy aren’t causing all travelers to cancel their summer vacations, but they are prompting people to look for ways to stretch their dollars.

One way of getting more for your money: hit the Internet to find a vacation rental instead of a hotel room, gaining space and possibly saving a couple of bucks. 

Renters have a variety of sites to consider when looking for a rental: Zonder.com, VRBO.com, CyberRentals.com and craigslist.org.

Here are three ways travelers can ensure they’re getting the best rental:

• Ask for more photos. While many of these Internet listing sites offer several photos of the property, you may want to ask for more of them 
• Ask specific questions. Ask the owner for recommendations of nearby supermarkets, where to get breakfast, the proximity to area attractions or any other features you’re interested in 
• Do more investigating. Web tools such as Zillow.com can give you an idea of the property’s value, and Google Earth can help confirm the area’s surroundings. 
• Know what is included. Some rentals provide necessities such as linens, others don’t. Know exactly what is provided so you’re not caught off guard when you arrive.

Full Article

Source: Amy Hoak, The Wall Street Journal, 5/25/08

From Hotels to Your Home ~ Fine Furniture and Accessories

Looking for designer quality on a dime?  Then head to the IRCA Hotel Services showroom and warehouse where you can comb the aisles for some of the best furniture bargains in town.

You can find everything from tissue boxes, flat-screen TVs, comforters, drapes, carpets, mattresses and headboards to lamps and framed artwork.  All from the hallways, suites and lobbies of luxury resorts, such as the Bellagio in Vegas or Marriott’s Camelback Inn Resort, Golf Club & Spa in Paradise Valley.

What: IRCA Hotel Services
Where: 2620 E Greenway Road, Phoenix 602-787-8478; 1360 W. Southern Ave., Mesa 480-615-7200
When: Hours for both locations are 9am to 6pm Mondays and Saturdays and 9am to 8pm Tuesdays through Fridays.

Source: Susan Felt, The Arizona Republic 5/24/08

New Financing Guidelines for Anyone with 4 or More Financed Properties

Effective August 1, 2008 Freddie Mac will NO longer allow financing where a borrower owns more than 4 financed properties, the previous number of properties allowed by Freddie/Fannie was 10.  This is a significant change and will impact anyone who has 4 or more financed properties.

If you or someone you know owns more than 4 properties (including primary residence, 2nd home and investment properties) it is important to immediately consider the following:

 1. If you own more than 4 financed properties and any of your loans are on an adjustable rate you have a 30-45 day window to get those loans refinanced to a 30 or 15 year loan.  If you do not do this now you will be stuck with an adjustable rate loan indefinitely.  If the terms on your adjustable rate are not good then you need to refinance now.

2. If you are looking to purchase a property you need to do it now!  If you already own 4 or more properties and are looking to purchase a new one and wait you will find it much more difficult to obtain financing and will most likely encounter higher rates and greater down payment requirements for using a bank that does not follow Freddie Mac and Fannie Maes guidelines.  

These new guidelines will have a huge impact on many of us as we build our investment portfolios.  If you have any questions, need to refinance or buy a property before the deadline, contact me right away at Maria@SolerEnergyProperties.com or 602-366-5073.

Krispy Kreme is Back in Arizona!

After a long hiatus, Krisy Kreme reopened its store on Superstitions Springs Blvd. in Mesa.  Bring on those hot, glazed doughnuts!

Arriving at a Price for your Home

The Washington Post recently had some tips on how to price a home if you’re selling:

• Don’t base the price on what you paid or what your neighbor got a few years ago.
• Do examine the pries of homes for sale in your neighborhood, as well as the prices of comparable homes that have sold in the past three to six months.
• Don’t pick a real estate agent because he or she suggested the highest list price.
• Do pick a real estate agent who offers a thoughtful explanation for the price he or she is suggesting
• Don’t go overboard with remodeling.
• Do make minor improvements so your home is in as good or better shape than the competition.
• Don’t set your price based on emotional attachments.
• Do ask your real estate agent to reasses the price every few weeks to make sure your asking price is in sync with the market.
• Don’t be stubborn.  If weeks go by without any offers, the price most likely does not reflect the value of the home.  It’s time to consider cutting the price.
• Do be patient.  You might have to wait longer for buyers to pull money together know that lenders have toughened their standards.

These are great tips that will put you in the right mindset to get your house sold.  If you’d like to discuss any of these or are just wondering what your house may be worth, contact me by email at Maria@SolerEnergyProperties.com or call me at 602-366-5073.

H&M Is Coming to Arizona!

H&M will open its first Arizona store in spring 2009 at Scottsdale Quarter, an open-air shopping center going up across the street from Kierland Commons.

I love H&M and always make it a point to go shopping there when I’m in DC – I’m so glad they’ll be in AZ soon!

Should you Pay Off Your Mortgage Early?

Paying off your mortgage early will save thousands of dollars, and you’ll get a reliable rate of return on your investment (you save the interest you would have paid on your mortgage).  Yes, you’ll lose the mortgage interest tax deduction when that happens.  But if you’re in the 25% tax bracket, for example, you’d only get back a quarter for each $1 in interest you pay – not such a big break.  If you’re debt free and maxing out your 401(k) and IRAs, which offer tax breaks, paying up early isn’t a bad idea.

Source: Money Smart, Sharon Epperson, 5/11/08

Appliance Cheat Sheet

Before making a big-ticket purchase, it helps to learn your options.

When you first set foot in a showroom filled with hundreds of appliances boasting various bells and whistles, it’s hard to know which features are most important. 

To make the shopping experience a bit less harried, Real Simple put together a guide to what really matters when getting a new washing machine, refrigerator, dishwasher, range or microwave.

 Source: The Arizona Republic, 5/10/08

Model Perfect 2 Bed 2 Bath Townhouse $139,900

Spacious & bright 1-story home in peaceful secluded neighborhood. Only one common wall feels like a single family home! Vaulted ceilings and open floor plan – feels much larger than sqft. Bright kitchen with plenty of counter and cabinet space plus a breakfast bar. Large master bed and bath with mirrored closet and sliding doors to private patio. Second bed and bath just as spacious. Wood floors in great room, tile in kitchen and baths. Covered patio and yard ideal for pets big and small. Other extras: fireplace, built-in BBQ, washer/dryer, wood blinds and home warranty. Make sure you see the large community pool for those hot summer days!  Click here for more info and pictures!

Home Price Drop Accelerates

Home-price declines are accelerating nationwide, pushing a hoped-for turnaround in the housing market further down the road.

The Standard & Poor’s/Case-Shiller index that measures home prices in 20 major metro areas dropped 12.7% in February from a year earlier — the sharpest decline in the data’s two-decade history.

Areas of the country that saw the greatest run-ups in prices in the first half of the decade are now seeing some of the steepest declines. Home prices in the Las Vegas, Miami and Phoenix markets fell in February by more than 20% from a year earlier.

 Even after sharp drops for more than a year, however, home prices in Los Angeles, Miami and Washington, D.C., remain more than double their levels at the start of the decade.

Full Article

Source: Sudeep Reddy, The Wall Street Journal, 4-30-08