Arizona Living Real Estate Blog

Most people love to get out and mingle with their fellow neighbors throughout their communities during the holidays and in Lake Havasu, there will be a few holiday events going on that will help make that happen.

21^st Annual Turkey Trot

11/21/2009 - Come join the fun in the 5K race / 2 mile fun run or you can just walk.  Race begins at 7:30 a.m. at Sara Park.  The entry fee is now $27.  For more information, contact the Lake Havasu City Parks & Recreation at (928) 453-8686.

Western Welcome Club of Arizona Holiday Boutique

11/21/2009 - Bring the whole family for this free event at the Community Aquatic Center on 100 Park Avenue from 8:00 a.m. to 2:00 p.m.  For more information, contact Willie at (928) 855-2238 or Carolyn at (928) 855-5583.

London Bridge Thanksgiving Regatta

1127/2009 - Here's a great day of fun for everyone at the London Bridge Yacht Club from 9:00 a.m. to 3:00 p.m.  The race begins and ends in Thompson Bay.

If you have visitors coming into town this Thanksgiving holiday season or you just want something to do yourself, check out some of these great events.  They are sure to keep you and your visitors happy and busy while they are in town. 

Find more events around the Lake Havasu area by visiting the Lake Havasu City Convention & Visitor's Bureau.   

Enjoy your Thanksgiving holiday season.  ~ Realtor® Cheryl Westwood

Homeownership is one of the biggest dreams of many Americans.  Due to record numbers of homeownership and cheap mortgage rates, many homeowners are prime targets for scams.  Therefore, I'd like to take the opportunity to point out three of the top current real estate scams to help homeowners, buyers and sellers from losing thousands of dollars or their home.

The top three real estate scams that can be found right now include identity theft via mortgage request, loan flipping and the old bait and switch.

The bait and switch technique is a fraudulent method where a loan product is publicized at a beneficial rate (bait).  Later, the product or rate is subsequently changed for the gain of the lender (switch).  For example, one interest rate is guaranteed to you at the time of selling a loan, but a higer rate is given at the time of closing.  This practice is deceitful and illegal.

When obtaining a mortgage quote or getting pre-approved for a mortgage, many consumers believe that their financial details are secure.  However, on many occasions, your financial details can be hacked within 24 hours of your credit bureau inquiry and even your loan officer is unaware of your financial details being swiped away.

Loan flipping is another type of mortgage scam that is common in the real estate industry.  Loan flipping denotes frequent refinancing of a mortgage within a short time, giving very small gains to the borrower.  Lenders who flip loans ask too much for an origination fee with every consecutive refinancing.  These fees are usually asked for based on the whole loan amount, not only on the increased amount summed up with the loan principal through refinancing.

If you are considering a mortgage refinance, a home equity loan or buying a home, you should find a lender you can trust.  It is very important to shop around and do your homework before making a final decision and never give your personal details until you are confident that the individual or company you are talking to is someone you can trust.

To protect yourself from being scammed, the best offense is a good defense.  Research and make inquiries often.

Keller Williams Arizona Living Realty ~ Realtor® Cheryl Westwood

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Today, there is a variety of choices of lenders to choose from and often homebuyers find themselves asking which lender is right for them.  Today's choices include mortgage brokers, banks, Internet lenders and home builders.  And each lender has its own advantages and disadvantages of using them.  Therefore, I would like to go over the different types of lenders to help homeowners make a sound choice when it comes to buying a home.

Types of Lenders:

Banks - Advantages of banks are that they are regulated by state and federal agencies, many branches provide you with one-on-one access and your current banking relationship can get you a reduced mortgage rate.  Disadvantages of banks include being limited to only offers the bank has to offer, some may lack negotiation leverage when it comes to publicized rates and you may not get the best rate.

Mortgage Brokers - Advantages of mortgage brokers include having access to a wide variety of lenders, you can shop for the best rates to save money and you can quickly find another lender if your first application is turned down for some reason.  Disadvantages of mortgage brokers include that they are free to set their own pricing and many will mark-up the wholesale rates to whatever they want, services will vary from broker to broker and many function as a lender's agent and have the lender's best interest at heart, not yours.

Home Builders - Advantages of home builders is that it's a good way for first-time homebuyers to qualify and the buyer doesn't take title to the property until the home is complete.  Disadvantages of home builders include them favoring lenders who offer higher rates and sometimes they can pressure you into getting their loan instead of using a lender of your choice.

Internet Lenders - Advantages of Internet lenders are that they allow you to shop for competitive rates online.  Disadvantages of Internet lenders include a greater learning curve for the homebuyer to understand the borrowing process and the abundance of spam that comes with it.

With careful planning and consideration, you can choose the right lender for the loan you need.  I hope this article helps make that choice.

Keller Williams Arizona Living Realty - Realtor® Cheryl Westwood

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Using this 10-point scale will help you keep your credit in check to help you buy your dream home with purchasing power. 

Making the minimum payment on your credit card (4) - All credit card companies like it when you take your time paying off your credit card.  The slower you pay it off, the better for them.  This won't necessarily affect your credit score.  However, you shouldn't make this a regular practice.  Paying only the minimum payment will just keep you in debt longer and you'll only end up paying more in interest.  Sometimes, the amount you end up paying in interest may end up being two to three times more than what you originally owed.

Making late payments (6) - Credit card companies are notorious for adding on late fees.  Payments that are made just a few minutes late will accrue late fees, interest charges and other penalties.  Depending on how late the payment is made, the credit company may report the delinquency to the credit bureaus, which will hurt your credit score.  

Missing a payment (9) - Credit card companies really get you when you miss a payment.  They slam you with late fees, interest charges and other penalties.  And, you will most likely see a rise in your interest rate.  You will also have to face a hard hit on your credit report of about 35% on your credit score.  This will result in paying more when trying to get a home loan or prevent you from getting one at all.  Missed payments not only have immediate consequences, but also long-term consequences, too.  Therefore, be sure to pay your credit card payment on time each month.

Purchasing on a card for rewards (1) - Paying off your credit card on time and in full just to grab extra rewards isn't necessarily a bad plan.  Just be careful playing this game.  Most people end up spending more money when paying with plastic.  So, it's easy to get in over your head.

Having too many credit cards (6) - Applying for multiple credit cards just to grab discounts on clothes or other merchandise will most likely have you letting bills slip through the cracks.  This also increases your chances of being a victim of identity theft.  A general-purpose card is all you should need.  It serves its purpose well.

Maxing out your credit cards (7) - Maxing out your credit cards will also have a serious impact on your credit score.  Around 30% of our score is based on "credit utilization."  This is the amount of credit you have used versus the amount you have available.  It also signifies a bad trend in your personal finances when you max out your cards.  Although maxing out your credit cards may not have an immediate impact on your financial pull, it will always show that you are not good at budgeting your money wisely.

Keeping up with your credit at all times will help when it comes to buying a home.  With good credit, you will have more purchasing power.

Keller Williams Arizona Living Realty with Realtor® Cheryl Westwood

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Children all around Lake Havasu City, Arizona are ready for and excited about the Fall Fun Fair that is scheduled for this Saturday, October 17^th.  The youth of the city's residents and visitors will all be enjoying over 80 different games and various other activities at this year's annual event. 

The Fall Fun Fair has been organized by the Lake Havasu City Parks & Recreation Department and will be held at Rotary Community Park from 3:00 p.m. to 8:00 p.m. The first 2,000 children who come to the event with a parent will receive a bag of treats.  Each bag has been donated by the Havasu Community Credit Union.

This year. there won't be the usual costume contest, but a costume parade instead.  Many people around Lake Havasu City already think this will be a big hit for the event.  And, since this is a family-oriented event, attendees are asked to please wear a Halloween costume or a red-white-blue costume if you will be participating in the parade.  This year's theme is "patriotic" to go along with the London Bridge Days parade theme.  The parade will begin at 5:00 p.m. 

The Lake Havasu City Fall Fun Fair will be selling tickets for the games at 25¢ each, with proceeds going to over 40 different contributing organizations.  There will also be a talent show from 6:00 p.m. to 8:00 p.m. at the Lake Havasu Aquatic Community Center. 

Each year, the children of Lake Havasu have so much fun and this year's event sounds like its fun may surpass the others. 

Keller Williams Arizona Living Realty with Realtor® Cheryl Westwood

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As fall sets in, those undecorated walls that were once lit up by the summer sun are now bland and crying out for color.  All these do-it-yourself decorating ideas can be a hot topic at your holiday parties and make you look like a pro.

Some of the trendiest colors in home décor this fall will be bright, aggressive colors, such as all shades of blues, persimmon, butter-yellow and orange.  These colors are happy colors and, in today's economy, everyone wants to be surrounded by happiness and hope.  Happy colors also set good moods.

Trendy color combinations for this fall will include reds paired with yellow.  These color combinations make really bold statements without overdoing it.  It's also very attractive.

Texture is another trend right now.  Adding simple texture to your walls, such as stripes, decals, patterns or wallpaper murals, are great ways to jazz up bland walls.  Many designers believe that wallpaper murals will be popular for a time to come.  They are easy to install and versatile.  They also make a huge impact on a room for an affordable price. 

When decorating yourself, take small steps at first.  Consider what your favorite colors are and how you want to use them in your home's design.  Get creative with simple tricks and don't overdo it by overpowering.  Sometimes, less is better.

In the end, no matter how it turns out, always tell everyone you meant it to look exactly the way it has turned out.  Hey, no one has to be perfect.

Keller Williams Arizona Living Realty with Realtor® Cheryl Westwood

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