SHEW NEWS by
Sarah Shew
Associate Broker Sarah Shew, Keller Williams
Keller Williams Realty Professional Partners
(623) 640-1219 sarah@sarahshew.com Issue 37, September 2010
Sarah’s Frequently Asked Questions can tell you that nicer properties (by
Keeping in Step with the
Q: How’s the real estate market? that I mean properties that are pretty SHEW TEAM
A: It sucks. Next question. much move-in ready) in the lower
price ranges get snapped up pretty
Q: I keep seeing houses on line but quickly.
when I call about them, they’re al-
ready under contract. What’s up Q: How much down payment do I need?
with that? A: That depends. Assuming we are talk-
A: Houses that are in “active” status in ing about buying a place that you
the multiple listing system get their want to live in—not an investment
status changed, by the seller’s agent, property-– veterans can buy with
to “active with contingency” when an zero down, with some exceptions.
offer is submitted to the short seller’s FHA loans require 3.5% of the sales
lender. Most properties for sale are price as down payment.
short sales—that could change, but
that’s the way it is right now. The Q: How about interest rates?
sites that MLS feeds to don’t distin- A: Your lender is the best person to ask
guish between A for Active and about interest rates. I’m seeing 4.5%
AWC for Active with Contingency— for some buyers and it could be
so a listing may look like it’s for sale, lower for others. I have no clue how
but not . long we can expect bargain rates like
these.
Q: Have we really hit the bottom of the
Special Points of
market? Q: Do you do short sales?
Interest in This Issue
A: Boy, I hope so! How much lower A: Yes. I work with sellers who need to
• Sarah’s FAQs
can prices go??? I heard on the news do short sales, and with buyers who
• From the Heart of Sarah
today (and I almost never listen—it want to buy them. Almost all my
• Positive Positioning
depresses me) that Valley prices sta- business is short sale related right
• Time to Buy—Interest
bilized in April and began to creep up now, and I don’t see that changing Rates vs Price Reduction
in June and July. A couple of months any time soon. • Movies
don’t make a trend—but I can tell • The History of Labor Day
you that it is not easy to find prices More questions? Call Sarah at
as low as a few months ago. And I 623.640.1219. Thanks!
Sarah Shew, Keller Williams Realty Professional Partners Page 2
From the Heart of Sarah
August. It came. It went. Most of The Primary Election was in Au-
my business in August has been gust. If you missed your
about waiting for short sale lend- opportunity to vote, re-
ers to make decisions. It feels a member to register—
little like climbing up a steep hill— you’ll have another
and sometimes when you get to the chance in November.
Positive Positioning
top, you can see the prize and slide Don’t miss out. If you’re in Mari- Self-control—from the
on down to close with a happy seller copa County, you can ask to be put Greek egkrateia meaning
and happy buyer and agents who get on the list for mail in ballots—just restraining passions and appe-
paid. Sometimes go to http://recorder.maricopa.gov/ tites—the opposite of excess,
when you are at the and look at frequently asked self-indulgence. Here are
top, you tumble questions. Looks like they’ll take passages:
down backward—no early ballot requests as early as Sep-
prize, just a tumble tember 6. Like a city whose walls are
purely for exercise. broken down is a man who
And sometimes you lacks self-control. Proverbs
just climb. And climb. And climb I worked the Primary. Very low 25:28
for what seems like forever—and turnout—but lots of people voted
then you hear from the seller’s by mail. I managed to hurt my back As Paul discoursed on right-
lender and …. the first day I worked, but, thanks to eousness, self-control and
Home Chiropractic (and ice), I the judgment to come, Felix
am on the mend. Should you need was afraid and said, "That's
One of my short chiropractic treatment and are near enough for now! You may
sales had a happy 59th Av and Cactus, the number to leave. When I find it conven-
ending in August. call is 602.692.5770. ient, I will send for you." Acts
Great house. Well 24:24-26
priced. Short wait.
Very cooperative Did you know I help people find
So then, let us not be like
seller and happy buy- rentals? When you know someone
others, who are asleep, but
ers. Would that all transactions who is looking for a rental on the
let us be alert and self-
were so smooth. west side of the valley, let me
controlled. 1 Thessalonians
know—I’ll be glad to set up an auto-
5:5-7
mated search and help them look. It
There are several others—not such would be my pleasure. But since we belong to the
a short wait—but hopefully all will
day, let us be self-
have happy endings. We’ve heard
Big indoor rummage sale coming controlled, putting on faith
from sellers’ lenders on all of
up on Saturday, October 2—7am to and love as a breastplate, and
them—most wanting price nego-
2pm—SE corner of 59th Avenue and the hope of salvation as a
tiations but not all.
Mountain View in Glendale. All do- helmet. 1 Thessalonians 5:7-9
All prices have been
countered—we nations are tax deductible, and all
know approvals are proceeds go to a worthy cause. The
on their way on public is invited—and very welcome.
some but not so sure
on the rest. It takes patience to get
all the way to a happy ending on a Bless your hearts!
short sale. But patience is a virtue,
yes?
Sarah Shew, Keller Williams Realty Professional Partners Page 3
Time to Buy – Interest Rate versus Price Reduction
By Geoff Rooker, Branch Manager /CMPS
Is now the best time to buy a home? With today's low home prices, many people
may be asking that question. Obviously there are a number of incentives, such as low
rates, that make now a good time to buy. But some consumers may still be wonder-
ing if they should wait or if now is the best time to take the plunge.
One way to determine whether the time may be right for you to buy a home is to What’s playing at the
start looking at the rents in your community. When a full mortgage payment movies?
(including principal, interest, taxes and insurance) begins to equal or fall lower than
I saw Inception the
rental rates, the market is typically near the bottom – and that means you'll likely be-
other day—am still trying
gin to see housing prices begin to stabilize or even head back up. In many parts of the to figure it out, but liked
country, we have already seen this occur. it—even if I did sit on the
edge of my seat the whole
time. What did you
Since the Fed's Mortgage Backed Securities purchase program ended, the markets
think?
have seen much more volatile price swings…and rates overall are off their lows. For
potential buyers who are waiting to see if home prices come down a little more, that
means the wait could well cost you more money in the long run. I saw the trailers for Get
Low—looks good to me
even though the reviews
Let's look at an example to see why. Say a home buyer wants to buy a home that
stink out loud. Did you
costs $300,000. But the buyer wants a better deal on the home, so she delays a like this one? I don’t
transaction until the home is reduced by $10,000. If, in the meantime however, rates know how NOT to like
were to rise .75% to 5.25% and the buyer financed 90% of the purchase price, the Robert Duval and Bill
amount of total payments over a 30-year term would be over $35,000 more than pay- Murray….
ing the $300,000 purchase price and locking in the 4.5% interest rate. In other words,
the buyer would save $10,000 only to end up paying $35,000 more. I THINK I might want to
see The Company Men
Now these prices and rates are just for the sake of example. But the point is that coming in October—as
home prices are already very affordable…and rates are still low for now. So in the long as it has a happy end-
end, waiting for a home price to reduce may end up costing you much more than you ing (I am big on happy
expect if rates rise. endings)….
Whether you are refinancing or purchasing a home, call me anytime for interest rates Tell us what you’re seeing
quotes and payment information. at the movies. Just send
Bob an email at
Geoff Rooker sarah@sarahshew.com.
Branch Manager / CMPS
LO License #0910943
602-550-5626
www.rookerteam.com
Peoples Mortgage Company
MB# 0904164
SARAH SHEW
Associate Broker
7025 West Bell Road, #10
Glendale, AZ 85308
623.640.1219
623.640.1219
sarah@sarahshew.com
The Shew Team
The History of Labor Day
Just in case you thought Labor Day is all about 50% sales,
here is what the US Department of Labor has to say.
http://sarahshew.com Labor Day, the first Monday in September, is a creation of
the labor movement dedicated to social and economic
achievements of American workers. It constitutes an annual national
tribute to contributions workers have made to the strength, prosperity,
and well-being of the USA.
The First Labor Day. The first Labor Day holiday was celebrated
in 1882 in New York City. In 1884 the first Monday in September was
selected as the holiday, as originally proposed, and the Central Labor
Union urged similar organizations in other cities to follow the example
of New York and celebrate a "workingmen's holiday" on that date. The
idea spread with the growth of labor organizations, and in 1885 Labor
Day was celebrated in many industrial centers of the country.
A Nationwide Holiday. The earliest celebration of Labor Day was
a street parade, followed by a festival for workers and their families.
Speeches by prominent men and women were introduced later, as more
emphasis was placed upon the economic and civic significance of the
The 2010 Susan G. Komen Phoenix holiday. Still later, by a resolution of the American Federation of Labor
Race for the Cure will be held on convention of 1909, the Sunday preceding Labor Day was adopted as
Sunday, October 10th in the State Labor Sunday and dedicated to the spiritual and educational aspects of
Capitol District of downtown Phoe- the labor movement.
nix. Join us and more than 30,000 in Labor Day celebration has changed in recent years, especially in large
either the 1 mile Run/Walk, the 5K industrial centers where mass displays and huge parades have proved a
Run for Breast Cancer Survivor's, the problem. This change, however, is more a shift in emphasis and medium
5K Run, the 5K Walk or Sleep In for of expression. Labor Day addresses by leading union officials, industrial-
the Cure® on Race Day! Race activi- ists, educators, clerics and government officials are given wide coverage
in newspapers, radio, and television.
ties include the Survivor and Co-
The vital force of labor added materially to the highest standard of
Survivor area (Pink Hat Cafe, Survivor
living and the greatest production the world has ever known and has
Goodie Bags), Corporate Village
brought us closer to the realization of our traditional ideals of economic
(sponsor booths) and Community Vil-
and political democracy. It is appropriate, therefore, that the nation pay
lage (breast health informational tribute on Labor Day to the creator of so much of the nation's strength,
booths). freedom, and leadership — the American worker.