Have you heard of a HECM?

Have you heard of a HECM?

Home Equity Conversion Mortgage?

Are you or your spouse 62?

You could live in your home without any mortgage payments.  Did you know that?

Its true.

 

Jacqui Hamilton
Concord Mortgage
jacqui.hamilton@concordmg.com
623-900-1935

What do Harvey and Irma mean for you and having your new home built?

As Irma heads to Florida, Houston is in the early stages of picking up the wet pieces and trying to look forward to sunshine filled and dry days.  

One area that is affected nationwide after a disaster like major Hurricanes is building supplies.

Building time frames will get longer in Arizona, and other states not affected by Harvey and Irma.   

Suppliers prioritize their materials to those locations hit hardest. (and it is mandated by the government that they do)  Builders in other areas and states have delays in their construction due to lack of materials.  This also means that the builders don’t require as many employees to just hang around and wait to swing their hammer.  The combination of lack of materials and fewer on hand workers result in delayed construction build times.  

If you are already contracted with a builder for your new home, plan on your closing date being pushed out.  If you are about to have a builder start your home, and they previously informed you of a 5-7 month build time.  That just got extended to 7-9 months.  

The builder purchase contract has a clause to allow them up to 2 years to get your home built.  Now they don’t want to take that long, but they have the right to.  That clause exists for times like these.

Many of the construction workers will leave states where they have resided and move temporarily to the areas that have been ravaged by nature.  Creating another challenge of not enough construction workers available when the supplies are once again readily available.  

Our prayers and donations are directed to helping so many recover from unimaginable loss.  

 

CantaMia – a new 55+ retirement community

dreamstime_l_5059099CantaMia is another great example of locating an Active Adult Community within or adjacent to a multigenerational community.   It offers the opportunity for the 55+ family members to enjoy their extensive exclusive Active Adult facilities as well as share the additional recreational activities with their families who live in the Estrella ranch community.   This I think is the best of both worlds.   It is also interesting to see that as families in Estrella grow and reach the empty nest stage, they are purchasing in the adjacent CantaMia!

CantaMia was designed by Engle Homes, but no construction was started. It was saved from bankruptcy by Joseph Carl Builders, who then joined with Avatar homes (AVHI on the NASDAQ) under the name of Vitalia by AV Homes.   The total number of homes when built out will reach 1700, a fairly small community by some standards.   The recreational activities however are equal to those of the much larger communities.  The 29,000 sq ft Village Center has indoor and outdoor pools, a beautifully equipped demonstration kitchen, an excellent variety of exercise and activity centers as well as a mini café and wine bar.  The workout room boasts a cushy bamboo floor and the computer room and fitness center have instructors from Estrella Community College.  The common areas use reclaimed water for irrigation in keeping with their entire energy saving theme.  There are 14 model homes to guide your home choice, with emphasis being on their Green building techniques.  Check the current prices on our website.  The builder is a member of the Environments For Living, and is a Green Certified Builder.  The homes have been tested for efficient use of utilities and are awarded very high scores. All homes include solar as an energy source.    In keeping with the Green living, the exercise, cooking and activity programs are designed to encourage healthy life choices.  CantaMia’s Sierra Estrella Mountain views and many lakes provide a tranquil and relaxing setting in which to enjoy your healthy retirement.

CantaMia, an Arizona Active Adult Community

I recently visited CantaMia and discovered this jewel in the Estrella Mtns

Is the New Home market picking up?

new-construction

The Arizona Republic today has an article about Signs of Life in the new construction home market.  Reading through the article the only real “news” is that the New Home Builders are buying up land again.  The article mentioned the amount of $90 million purchased recently.   This lets me know that the builders are seeing and expecting more home sales.

Hopefully they are correct, and the trend of confidence in the housing market continues.

Artesia a New community next to McCormick Ranch


As you gaze across Camelback Lake from the McCormick Ranch Golf Club you see a strange site in this area.  You see new construction.  Starpointe’s new community Artesia is not in McCormick Ranch, but is just next door and so I am including it in the area communities.

The community located off Scottsdale Rd just north of Indian Bend Rd is in a great location, with restaurants (including the soon to open Roka Akor) and shopping walking distance from the homes.  The community will have a fitness center, yoga and aerobics room, massage rooms, lap pool, spa, clubhouse with theater, event/ game rooms, state of the art golf simulator, pet spa and much more.  The community besides being on the golf course will also have 10 acres of private park area, four miles of walking paths, and water gardens.

In Artesia there are two styles of buildings.  The first has what they are calling Residences, single level condos, starting from $354,900 for a one bedroom unit, on the first thru third floors, and two bedroom units starting from $434,900.  On the fourth floor they have the Penthouse with 2260 sqft, and 1211 sqft of private wrap around deck, I am sure the views will be stunning.  The pricing is $1,199,900 for the penthouses.

The second style is the Brownstone collection, three story units starting at 2907 sqft with private garages, and  views of the Pines course at McCormick Ranch.  The prices start from $1,064,900.

If you are looking to be close to everything Scottsdale has to offer, and looking for new properties in an urban setting, Artesia may be right for you.