Is a Phoenix Home Warranty Worth the Money?

Phoenix Home Warranty Can Save Homeowners Money

Now as much as ever homeowners are looking for savings where ever they can be found. With that thought in mind we ask, is a Phoenix Home Warranty worth the money?

There is a Phoenix Home Warranty to fit every homeowner or Buyer

With the price of a Phoenix home warranty ranging from $300 – $600 dollars depending on the desired coverage there is a plan for every buyer. If you are considering purchasing an existing home as part of standard real estate transaction your Realtor can negotiate that the Seller pay for your warranty.

The Phoenix home warranty is designed to cover you when specific systems and appliances fail

Landmark Home Warranty specifically reported that 3 out of 4 clients have at least one repair made within their first year of having the warranty and while those repairs range in cost, they can represent a significant savings.

The following table represents what a typical repair can cost without a Phoenix home warranty:

Heating System: $130 – $3,500

Water Heater: $115 – $1,500

Dishwasher: $98 – $1,250

Air Conditioning:  $130 – $4,000

Oven/Range:  $110 – $2,700

Kitchen Refrigerator:  $110 – $3800

Plumbing:  $95 – $7,500

Electrical System:  $85 – $2,500

With a Phoenix home warranty homeowners can save themselves the pain of those prices by just paying a $60 service call fee for each of these covered items.

Depending on your comfort level with service contractors, you will also like the added convenience that the contractor who works on your home comes from a preselected pool professionals and your home warranty company will pick up the bill. Your Phoenix home warranty company can also be very savvy when it comes to understanding a typical home systems and appliances, and therefore could save you time and money by troubleshooting simple issues with you over the phone when you call for service.

Maybe of greatest importance to our Phoenix housing market is the limited availability of R-22, also known as Freon. Since the 1980’s the government has been phasing it out due to environmental concerns. The replacement coolant, R-410A or Puron is not compatible with most existing Air-Conditioners, and without a Phoenix home warranty you will eventually be stuck time and costs associated with finding Freon and compatible parts, or upgrading your system to be compatible with Puron.

Below is a video provided by Landmark Home Warranty who would love to help you with your Phoenix home warranty needs.

httpv://www.youtube.com/watch?v=CquFvX4ToWo

Please post your comments below if you have questions about acquiring a Phoenix home warranty.

11 Steps to Buying a Phoenix Home Series-Financing

Secure a Phoenix home loan before you start your home search

Phoenix home loan
If you have been following the future posts in this 11 Steps to Buying a Phoenix Home Series we touched briefly on how to establish or clean up your credit if needed. Now for the purposes of this series moving forward we will assume you have a least a 620 credit score, a steady documented income for the previous 12 months and your DTI is 41% or less as indicated in our previous post regarding debt-to-income ratios…the next step is to get pre-qualified with a Phoenix home loan.

Ask for referrals to qualified Phoenix home loan specialists

Word of mouth is the best way to find a great loan specialist for your Phoenix home loan and your Realtor is a great place to start. Your Realtor should have excellent referrals for you as they tend to use the same preferred lenders over and over again that make them look good and give their clients the best service available. Just like any business if you do a good job, word gets out about your services and others refer you business. I do not recommend just haphazardly going online and completing online questionnaires or applications. 9 times out of 10 your information is sold and you can get bombarded with loan professionals. Find a few that come highly recommended by asking your family, friends, neighbors and Realtor and start there.  A lender should be able to take a phone application and/or secure online application and have answers for you the same day. Unless of course you go to a brick and mortar bank where a pre-qualification can take up to five business days.

Understand the terms and fees associated with your Phoenix home loan

After you complete the application process via online, over the phone or in person you will be provided with a pre-qualification letter that will state the amount of financing you qualify for. In Arizona specifically your Phoenix home loan qualification letter may be issued on as an LSR or Loan Status Report. An LSR will be required to write any offer and typically required prior to view homes. If this is your first time buying a home and applying for a Phoenix home loan you will have several questions. Your lender should be able to tell you your rate (which can still change until you lock it), your estimated mortgage payment including taxes and insurance, your estimated closing costs to bring to the closing table (which you can negotiate the Sellers contribute to), and your required down payment for your particular Phoenix home loan program. First time home buyers will typically use an FHA loan with 3.5% of the purchase price required as a down payment.

Example: 100,000 purchase price x 3.5% = $3500 down payment

There are also Phoenix home loan programs such as a USDA loan which allows first time home buyers to purchase at $0 down provided the property is located in a qualifying area. Phoenix-Metro areas that qualify mainly are Queen Creek, San Tan Valley as well as parts of Apache Junction.

The next step once you receive your Phoenix home loan qualification letter is to select a Realtor to represent you if you have not already done so which we will discuss in the next post in this 11 Steps to Buying a Phoenix Home Series.

Alamosa Estates, Chandler Homes For Sale–Featured Community

Alamosa Estates, Chandler is an upscale community in South ChandlerAlamosa Estates, Chandler Foreclosure Homes For Sale.

Alamosa Estates, Chandler is located in 85249 zip code just East of S. McQueen Road, South of Ocotillo and North of Chandler Heights. Great location close to shopping, restaurants, entertainment venues, schools and the 202 & 101 freeways for easy access to/from the Phoenix-Metro area.

Alamosa Estates, Chandler offers basement homes with upgraded lot sizes in 85249.

Basement homes in Arizona are rare compared to other parts of the US. In Arizona you only have to dig about 18 inches to place pipes when building a home whereas in other parts of the Country you have to dig about 4-5 feet to place pipes below the freezing line. Therefore, the expense to build and finish a basement in other parts of the Country where the whether is colder is not great. In Arizona, adding a basement increase the cost by $20 – $25/sq.ft. according to Scott McDonald, founder of the Wall Company which means it is less expensive to build a second level than it is to build a basement home in Arizona.

Search below all homes for sale in Alamosa Estates, Chandler.

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What To Expect After Listing Your AZ Short Sale

AZ short saleGearing up for your AZ short sale transaction can include quite the waiting game.

Assuming you have already completed the steps outlined in our previous post in this Listing Your AZ Short Sale Series you should now be ready for your Realtor to submit your short sale package to the bank(s). Some banks will not accept any documents from your short sale package until you have a fully executed offer and others will accept the initial package upfront and accept an offer on the property after the fact.

It can not be stressed enough that when listing your AZ short sale each bank is different, however, waiting times for your file to be assigned to a negotiator once the complete package is submitted ranges from 30 to 90 days on average.

It is helpful to have a Realtor call in for updates on your AZ short sale progress on a regular basis.

Many Realtors work in conjunction with a negotiator as well that will call in several times a week to get updates. It is important that your Realtor does this or has the manpower/team/negotiator in place to do this

Getting to a ‘bank approved’ price on your AZ short sale will require patience.

Once a negotiator is assigned to your account the bank will order an appraisal or get a Brokers Price Opinion (BPO) to help determine what the home is “worth” in the current real estate market.  Then they will supply to you in writing either an acceptance of the current offer with a demand letter or with a counter identifying the bank approved price that they are willing to accept for the AZ short sale.

Closing on your AZ short sale will most likely take place X days after bank acceptance and varies by Buyer

A Short Sale Addendum will be included with the Buyers offer and states when the closing date will be or it can be X days after the bank acceptance.  The bank may also state a closing date with their acceptance notice. There will be an inspection period unless otherwise waived just like normal transactions.  The bank and the Buyers are pretty much negotiating at this point and banks rarely if ever negotiate any repairs in an AZ short sale.

The Perfect Vacation Home: How To Search For One

If you take time to compare, it would be easier for you to become aware that buying a vacation house is more affordable at present that it was several years ago. When five years ago, you thought that purchasing a vacation home in a very nice location like somewhere around beaches is an impossible dream to obtain, things have been quite different in greater dimensions at present. Beach houses for sale listings are flooded with a wide variety of choices. From simple beachfront properties to luxury country club vacation homes, for sure there’s absolutely something that you can get for yourself.

While it’s true that buying a vacation homes isn’t anymore an impossible dream, it is always important that you take the fundamental steps to avoid the likelihood of your dream turning to be a financial obstacle in the long run. This article will give you with some insights on what necessary guidelines you need to concentrate on when purchasing your dream home. This is to make certain that you do not straw away from the safe side since real estate investment is something that requires big amount of money and failure means having to face the fruits of the wrong actions for a long time.

Estimate all the necessary expenses.

Make sure that you have spent sufficient time estimating all costs that would be spent on insurance, basic utilities, maintenance and other dues. Check out possible repairs that may be required as well as needed updates before you sign the agreement contract or even verbal closing of deal with the current owner of the vacation home.

Pay attention and make careful decisions regarding special matters.

Location is always the top concern when looking to purchase a vacation home. If you would like to be part of the wonderful community of Beach real estate, it’s vital that you make sure that the qualities of the city is what you are truly in search for. This is to make sure that you would not be deprived of the recreational activities that you want to enjoy as well as the economic pleasures that you want to benefit from the location of your next home. While it is true that you have nothing to complain from all the good things that this awesome place can offer to all kinds of individuals, still it is necessary that you do not neglect checking on this area as well.

Organize your finances.

This is a big investment, so it’s necessary that you ensure everything in your financial stability is well ironed completely. You need to check your credit report, get all your loan documents and insurance information and make sure that they’re properly organized before you contact a realtor. This is something that you need to consider before you start looking for a house in the area of your dreams. Work on your way to pre-qualifying for a loan as it can make your search easier. Always remember this is a huge investment so you have to be careful and logical about every matter concerning this purchase.

Another great article by Helen Dinger Real Estate, Junction, Realtors This article, The Perfect Vacation Home: How To Search For One is available for free reprint.