Terry Forsberg's Blog

Buyers want to know. AWC answered.

terryforsberg — Sat, 19 Feb 2011 14:33:11 +0000

Many people searching for homes in Arizona go directly to the local multiple listing system (ARMLS) to see all of the homes currently on the market.
While searching for homes, they will come across many homes with a listing status of AWC and wonder what that stands for.
What does AWC stand for? AWC stands for “Active With Contingencies.” This home listing status is used in lieu of placing the home in the “Pending Sale” status as there are hurdles that need to be cleared before the sale can move forward.
What it means to a potential buyer is that the home is on the market and it being marketed to the public as a home for sale, but that there is a contingency in place that needs to be cleared before another buyer can move forward with the purchase.
When you see an AWC status, the person or entity selling the home is looking for other backup offers in case the existing offer/contract with the contingency falls through.
There are three different categories of AWC with one of them AWC-I or AWC- Seller Written Instructions being a very common one in today’s market.
• AWC-C or AWC -Contingent Offers: This AWC status indicates that there are is another offer or contract on the home, but there are “contingencies” involved. The contingency on the contract or offer would need to be cleared before the sale can be completed. An example would be if the seller had accepted an offer where the buyer has another home to sell prior to being able to close on the new home purchase.
• AWC-I or AWC – Seller Written Instructions: This status has exploded in popularity in the last few years due to the large number of short sales in the Scottsdale and Phoenix real estate markets. The “I” stands for written “instructions” to keep the listing in an active, although with contingency, status. It can be used in different scenarios, but I would say the majority of the time when you see an AWC status on a Scottsdale home listing, it is referring to a short sale. So, when you see this in the case of a short sale, it means an offer has been accepted by the seller, but now the seller’s lien holder(s) have to approve the offer. Once lienholder(s) has/have given their approval and the deal can move forward, these listings can then move into Pending status.
• AWC-O or AWC – Existing Option to Purchase: This one is pretty rare to see. The “O” means that there is an existing “option” to purchase the home. Basically, the seller and option holder agreed to sell the home to the option holder at some point in the future. However, the option holder is not obligated to buy the home, so if they walk away from the purchase, a new buyer can step in.
Buyer can always find another property in this market but have to remember to monitor back up offers. Make sure you have an exit plan and written parameters signed by seller to escape the backup if you find another home.

Timing is everything, happy home hunting. Remember it’s one of the best times in years to buy your Arizona home.

Best Regards,
Terry

Terry S. Forsberg, Associate Broker, CRS, GRI
Certified Distressed Property Expert,
RE/MAX Fine Properties
Arizona CRS Chapter Secretary
602-410-9547 Mobile Fax 480-355-9585

OH, BY THE WAY, I’m never too busy for your referrals!

Terry@TerryForsberg.com www.TerryForsberg.com

terryforsberg — Mon, 08 Feb 2010 23:18:57 +0000

LENDER HAS APPROVED THE SALE, JUST NEED A CONTRACT. Back on the market 2-6-10 will not last. Great property on a huge lot. There’s a large AZ room (not included in Sq FT) with an invigorating Hot Tub Spa. This home is ready for some TLC, Trane A/C replaced in the last 6 years. Kitchen opens up to the Family Room with Fireplace. Located across from recent new construction neighborhood. Large 2 car Garaage and plenty of room in the backyard for the kids plus a pool. Roof replaced in 2006, should be horse property buyer to verify. MLS 4241503. http://ping.fm/aMXgE

terryforsberg — Fri, 30 Oct 2009 14:36:34 +0000

http://ping.fm/ujWPI

terryforsberg — Tue, 11 Aug 2009 22:45:23 +0000

The Arizona Department of Housing (ADOH) will offer 22 percent in purchase assistance to qualified homebuyers purchasing an eligible foreclosed home in the state. ADOH provides help in the form of a deferred second mortgage loan for purchase assistance. This is a 0% interest second loan and will be completely forgiven at the end of the designated time period.

The loan amount in Maricopa County can be up to $342,250 and this type of second would be 22% of this loan amount or $68,450. These loans are for Foreclosed properties only.

Have clients that are coming to Arizona? Call me and we can get them some incredible financing if they qualify and you will get a great referral.

Best Regards,
Terry

OH, BY THE WAY, I’m never too busy for your referrals!

Terry@TerryForsberg.com www.TerryForsberg.com

The Arizona Department of Housing (ADOH) will offer 22 percent in purchase assistance to qualified homebuyers.

terryforsberg — Tue, 11 Aug 2009 22:40:04 +0000

The loan amount in Maricopa County can be up to $342,250 and this type of second would be 22% of this loan amount or $68,450. These loans are for Foreclosed properties only.

Have clients that are coming to Arizona? Call me and we can get them some incredible financing if they qualify and you will get a great referral.

Best Regards,
Terry

OH, BY THE WAY, I’m never too busy for your referrals!

Terry@TerryForsberg.com www.TerryForsberg.com

7 social media blunders that might hurt your career

terryforsberg — Tue, 30 Jun 2009 16:21:54 +0000

It was so gratifying to see this story earlier this week confirming what we’ve all thought a billion times — that people shouldn’t fixate on their blackberry/iPhone while another human being is talking to them — and even more importantly, this article points out, not in a meeting with their boss, who might be going over important stuff that relates to, um, their ongoing employment.
As social media tools, and the devices that let us use them, become more commonplace, Barbara Pachter, author of “NewRules@Work: 79 Etiquette Tips, Tools, and Techniques to Get Ahead and Stay Ahead” warns of some costly blunders professionals can make when using social media:
1. Criticizing your employer. One woman recently posted on her Facebook page, “Attending another stupid work meeting. Can’t wait to get to the bars!” People are still posting negative comments about their company or boss on social networking sites. You can get reprimanded or fired because of it. Why would you bite the hand that feeds you?
2. Posting offensive photos and videos on Facebook or YouTube. Recently two Domino’s employees lost their jobs after posting a video of themselves doing unmentionable things to a pizza.
3. Not having a strategy if you don’t want to accept a friend request from a client or boss on Facebook. You don’t want to offend someone by denying their request. Think about the person and what would be the best way to say “no.” You can explain that you are saving Facebook for your family and friends and ask them to please join you on LinkedIn. You can ignore their request on Facebook and just send them a LinkedIn request. You can also accept the invitation and use the privacy controls to limit which sections of your profile they can see.
4. Using your BlackBerry under the table. People think you are ignoring them and there can be consequences. One company lost a large contract because their vice president played with his BlackBerry during a meeting with the potential client.
5. Sending ludicrous tweets on Twitter. I don’t need to read what you ate for dinner. Do I care? Be helpful to people so they want to hear what you have to say.
6. Placing your Blackberry or iphone on the table when meeting with someone. You are so ready to drop them and connect with someone else!
7. Not participating in Facebook, LinkedIn, Twitter, etc. You are missing out. If you do not participate, you will never know how social media can help you and your business.
Posted in Saving money, Your job |

June 26, 2009 at 4:28 am by Tracy Ormsbee
Article source = http://blog.timesunion.com/thelist/category/saving-money/

terryforsberg — Tue, 30 Jun 2009 16:19:09 +0000

7 social media blunders that might hurt your career
June 26, 2009 at 4:28 am by Tracy Ormsbee
It was so gratifying to see this story earlier this week confirming what we’ve all thought a billion times — that people shouldn’t fixate on their blackberry/iPhone while another human being is talking to them — and even more importantly, this article points out, not in a meeting with their boss, who might be going over important stuff that relates to, um, their ongoing employment.
As social media tools, and the devices that let us use them, become more commonplace, Barbara Pachter, author of “NewRules@Work: 79 Etiquette Tips, Tools, and Techniques to Get Ahead and Stay Ahead” warns of some costly blunders professionals can make when using social media:
1. Criticizing your employer. One woman recently posted on her Facebook page, “Attending another stupid work meeting. Can’t wait to get to the bars!” People are still posting negative comments about their company or boss on social networking sites. You can get reprimanded or fired because of it. Why would you bite the hand that feeds you?
2. Posting offensive photos and videos on Facebook or YouTube. Recently two Domino’s employees lost their jobs after posting a video of themselves doing unmentionable things to a pizza.
3. Not having a strategy if you don’t want to accept a friend request from a client or boss on Facebook. You don’t want to offend someone by denying their request. Think about the person and what would be the best way to say “no.” You can explain that you are saving Facebook for your family and friends and ask them to please join you on LinkedIn. You can ignore their request on Facebook and just send them a LinkedIn request. You can also accept the invitation and use the privacy controls to limit which sections of your profile they can see.
4. Using your BlackBerry under the table. People think you are ignoring them and there can be consequences. One company lost a large contract because their vice president played with his BlackBerry during a meeting with the potential client.
5. Sending ludicrous tweets on Twitter. I don’t need to read what you ate for dinner. Do I care? Be helpful to people so they want to hear what you have to say.
6. Placing your Blackberry or iphone on the table when meeting with someone. You are so ready to drop them and connect with someone else!
7. Not participating in Facebook, LinkedIn, Twitter, etc. You are missing out. If you do not participate, you will never know how social media can help you and your business.
Posted in Saving money, Your job |

http://ping.fm/8dm1x

terryforsberg — Tue, 28 Apr 2009 02:34:07 +0000

http://ping.fm/JSiRY

A Condition of A Short Sale in Phoenix, AZ

terryforsberg — Tue, 28 Apr 2009 02:14:53 +0000

Condition of Short Sale
Check this condition of short sale that I got on a counter to my contract. I represented the buyer on an offer for a short sale property and the listing agent had this as a condition of sale. ‘Earnest money to be non-refundable for 45 days after contract acceptance and escrow to be opened upon acceptance of seller.’
The purpose is to try and detour buyers from making numerous offers on different properties. Then bailing on everyone of them except the one they ultimately want to call home. Like it or not it did make my buyers rethink making too many other offers.
I find the market evolving as everyone is trying to find the best methods of representing their clients. We are trying to find the shortest route to successful closings on these short sales. With all the banks doing their own thing it is taking some time to get through this learning curve. For me having a professional Short Sale negotiator seems to be the quickest. He has talked with most of the Mortgage holders already, in some cases has closed deals and knows these guys by first name.
Got any other terminology or conditions of contracts for short sales you have seen? I would love to hear it.
Terry
Terry@TerryForsberg.com
www.TerryForsberg.com

Luxury Fountain Hills Condo!!

terryforsberg — Tue, 17 Mar 2009 16:34:36 +0000

Luxury Fountain Hills Condo!!

13606 N Cambria Dr # 109, Fountain Hills Arizona, is as price competitive as you can find. Original price was $305,000and is now listed at $250,000. This two Bedroom, Two Bath and Two Car Garage is turn key condition. Owner occupied, newly painting interior with new furniture (included if you like) and tile throughout. This could be your new winter home or your full time residence.

Check out its website www.CambriaDr.com to see photo’s of the wonderful home. It is a one level townhouse with double patios. It is an elevated end unit with no neighbors on either side has an open floor plan with mountain views and a spotless interior.

This unit has an extended garage with one full wall of storage, comes with a newer roofs that came with a 10 year warranty and newer exterior painting that came with a five year warranty.

The unit is located close to downtown Fountain Hills and The Fountain they are both a short walking distance away.

Priced at short sale values, REO’s or foreclose pricing it is ready to sell.

Contact me at my email address, Terry@TerryForsberg.com or check out my website, www.TerryForsberg.com. You can also call me direct at 602-410-9547. MLS# 4121104

Selling Arizona Real Estate where ‘Timing is everything’.