In this month's issue:

Featured Article: "How will a Short Sale Effect Your Credit?"&"The Top 10 Credit Don'ts"
Featured Properties for Sale
Investment Properties
Business Owner of the Month: Brian Krob with Aline Architecture Concepts, LCC.
Fun Facts and Tips: The 10 Rules of Air Travel
Pets of the Month:  Sassy and Uno
Community Leader of the Month: Renee Targos with Food for the Hungry
Referrals and Contact Information
 
Featured Article
How Will a Short Sale Effect Your Credit? By Alyssa Samuelson

Although we don’t know the credit score computing equation, we do know that something as serious as a short sale or foreclosure can have devastating effects. I hear the question all the time, “How much will my credit score go down if I short sale my home?”

There is no simple answer to this question as it depends on a variety of factors such as your current credit score, number of open accounts, past history of collections or delinquent accounts, and how the lender will report the short sale, just to name a few. There is a common understanding out there that the higher your score the more it is likely to fall.

The most damaging factors to your credit in a short sale situation are late or missed payments. Fair Isaac (which developed FICO scores) recently provided some insight into how credit is affected by late mortgage payments:
30 days late: 40-110 points
90 days late: 70-135 points

The good news is that in most cases Short Sales are not reported on your credit as a “Short Sale”. They are more commonly reported as settled or settled for less than owed. On the other hand, a Foreclosure is in fact reported as a “Foreclosure” on your credit. This simple standard of reporting can weigh heavily on your credit as currently the “Foreclosure” line item will most likely hit your credit hard. However, the reporting of settled or settled for less will not have as dramatic of effect, if at all, via a Short Sale.
Under current Fannie Mae underwriting guidelines a person is eligible to obtain a new home loan with 2-3 years of the short sale. However, under the same guidelines a person with a foreclosure will have to wait 5-7 years to obtain another home loan.

It is important to keep this in mind when choosing whether to short sale your home or allow it to go to foreclosure. The credit implications of a foreclosure far outweigh the credit effect of a short sale. Of course, it is always important to seek legal and tax advice when you are making a decision between these two options. We are here to assist in any many possible and also have a network of legal and tax advisors available for consultations.
http://www.southscottsdalehomes.com/blog/

 
Top 10 Credit Don'ts
By: Linda Ferrari
THE TOP 10 CREDIT DON’TS DURING THE LOAN PROCESS
 
1. DON’T DO ANYTHING THAT WILL CAUSE A RED FLAG TO BE RAISED BY THE SCORING SYSTEM. This would include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. The less activity on your reports during the loan process, the better.
2. DON’T APPLY FOR NEW CREDIT OF ANY KIND. Including those “You have been pre-approved” credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor or lender, you lose points from your credit score immediately. Depending on the elements in your current credit report, you could lose anywhere from one to 20 points for one hard inquiry.
3. DON’T PAY OFF COLLECTIONS OR CHARGE OFFS during the loan process. Unless you can negotiate a delete letter, paying collections will decrease the credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, do it through escrow – at closing.
4. DON’T MAX OUT OR OVER CHARGE ON YOUR CREDIT CARD ACCOUNTS. This is the fastest way to bring your scores down 50-100 points immediately. Try to keep your credit card balances below 30% of their available limit at ALL times during the loan process. If you decide to pay down balances, do it across the board. Meaning, pay balances to bring your balance to limit ratio to the same level on each card (i.e. all to 30% of the limit, or all to 40% etc.)
5. DON’T CONSOLIDATE YOUR DEBT ONTO 1 OR 2 CREDIT CARDS. It seems like it would be the smart thing to do, however, when you consolidate all of your debt onto one card, it appears that you are maxed out on that card, and the system will penalize you as mentioned above in 4. If you want to save money on credit card interest rates, wait until after closing.
6. DON’T CLOSE CREDIT CARD ACCOUNTS. If you close a credit card account, you will lose available credit, and it will appear to the FICO that your debt ratio has gone up. Also, closing a card will affect other factors in the score such as length of credit history. If you HAVE to close a credit card account, do it after closing.
7. DON’T PAY LATE. Stay current on existing accounts. Under the new FICO scoring model, one 30-day late can cost you anywhere from 50-100 points, and points lost for late pays take several months if not years to recover.
8. DON’T ALLOW ANY ACCOUNTS TO RUN PAST DUE --EVEN 1 DAY! Most cards offer a grace period, however, what they don’t tell you is that once the due date passes, that account will show a past due amount on your credit report. Past due balances can also drop scores by 50+ points.
9. DON’T DISPUTE ANYTHING ON YOUR CREDIT REPORT once the loan process has started. When yousend a letter of dispute to the credit reporting agencies, a note is put onto your credit report, and when the underwriter notices items in dispute, in many instances, they will not process the loan until the note is removedand new credit scores are pulled. Why? Because in some instances
10. DON’T LOSE CONTACT WITH YOUR MORTGAGE & REAL ESTATE PROFESSIONALS. If you have a question about whether or not you should take a specific action that you believe may affect your credit reportsor scores during the loan process, your mortgage or real estate professional may be able to supply you with the resources you need to avoid making mistakes that could drop your credit scores or possibly cause you to loose the loan.
 
Featured Properties for Sale
 
1743 E. Saratoga St, Gilbert:  $125,000; 3 bedroom, 2 bath; 2 car garage 1629 square feet; (Offer)
Great location, Great Opportunity!
http://1743esaratoga.epropertysites.com/
Great location, great price, don't miss this opportunity! Home features separate laundry, 2 car garage, large formal living area, vaulted ceilings, kitchen open to great room, b-fast bar, large master w/his/her closets, separate shower/tub w/glass block, dual sinks. The list goes on! Tenant has lived in home for 7 years, will stay or go. Paying $1100/month.
 
3190 W Sunshine Butte DR Queen Creek, AZ 85143  $95,000 (offer)
Adorable Home In Great Community With Pool!  STEAL this one before bank gets it!
http://3190wsunshinebuttedrive.epropertysites.com/
Adorable home with pool! Don't miss out on this spectacular opportunity, feels like a model home! 3 bedrooms /2 Baths, designer paint throughout including ''his and her'' kids rooms! Upgraded carpet and tile throughout. Kitchen has breakfast bar and eat in area, large pantry, and is open to living area. Home has vaulted ceilings, dual pane windows with sunscreens, separate shower/tub in the master and large master walk in closet. Cute curb appeal, desert landscaping in front for easy care, exterior of home freshly painted. Backyard is a dream - new pool, synthetic grass which looks and feels GREAT and requires minimal maintenance. Large covered patio to enjoy your outdoor time! Additional concrete slab poured to side of driveway for more parking room. Home is in immaculate condition!  This is a short sale being professionally negotiated by an attorney, so none of that nonsense with all those other short sales out there!  THIS HOME WILL GO FAST!
 
 
12229 N. 91st Way Scottsdale, AZ 85260  $675,000
Custom North Scottsdale Home in Gated Community- Move in Ready!!!
http://12229n91stway.epropertysites.com/
Beautiful custom home in a gated community! Lots of space here with 5 bedrooms and efficient, flowing floorplan, over 3500 square feet. Large master suite offers fireplace in bedroom, huge bathroom with double sinks & granite jacuzzi tub, and extra spacious walk in closet. Beautiful upgrades, including tile, granite, and designer blinds/shades. Gourmet chef's kitchen includes island with gas cooktop, granite slab counters, upgraded cabinets and all built in refrigerator. Back yard oasis featuring gorgeous heated pebbletec pool and spa, outdoor fireplace and BBQ area, fruit trees, and the perfect amount of grass. Also offered are mountain views, RV garage, tons of storage and a great convenient location -close to everything! This home has been impeccably maintained and is move in ready!
 
 
747 E Marigold Pl, Queen Creek, AZ 85242 $89900 (offer)
Awesome Deal in Johnson Ranch - Beat the Bank!!!!
http://747emarigold.epropertysites.com/
Great Johnson Ranch home at a GREAT PRICE! This two story home boasts 4 bedrooms, 2.5 baths AND LOFT! Large walk in master closet and shower. Lots of closets and storage space throughout home. Formal living and dining room, kitchen opens to family room. Nicely landscaped front and back yard. Two car garage, large laundry room. Half bath downstairs. Open staircase for dramatic entry. One house away from park with lots of grass and playground. Price reflects that home needs new carpet and some paint.  Home is a short sale and being professionally negotiated by an attorney to make the process easier for you!
 
12213 N Escobar Way, Phoenix, AZ 85022 $82,000
Cozy Home in Fabulous Location-Amazing Investment Opportunity W/ Tenant in Place!
http://12213nescobarway.epropertysites.com/
Amazing investment opportunity! Looking for a tenant that pays rent early and cares about the home as if it were their own? Look no further - this beautiful home comes fully ready with a great tenant- lease expires in Oct.& would like to stay as long as possible! (Paying $800/month) Home features 2 spacious bedrooms with walk in closets plus a den. Very roomy, well layed out floorplan with tile flooring, (except in bedrooms), designer paint, and totally updated bathrooms. Eat in kitchen, 2 car garage & large, peaceful backyard with mountain views complete this package. See it today!
 
 
8208 E Sells Dr. Scottsdale,AZ 85251 $160,000
Gorgeous Home in Great Scottsdale Location! With Pool!
http://8208esells.epropertysites.com/
Great home in Amazing Location - minutes to Scottsdale Greenbelt, Indian School Tennis Park and all that Old Town has to offer! Large formal living room with picture window and built in bookcases. Kitchen with breakfast bar is open to family room. Separate laundry room with extra storage. Garage has attached cabinets - perfect for a handyman's workshop! Backyard oasis with newer (2003) pebble tec pool, koi pond, entertaining bar, and lush vegetation. Large covered patio. Stained concrete floors and tile. Carpet in bedrooms needs replacing. Second shingle roof layer added in 2006.
 
 
5150 E Monte Vista Phoenix, AZ 85008 $50,000
Adorable Townhome at a Great Price!
http://5150emontevista.epropertysites.com/
ABSOLUTELY ADORABLE town home in great location close to everything-ASU, Tempe Marketplace, Papago Park, Old Town Scottsdale, airport, DT Phoenix! Town home is currently set up with a master and master sitting room but could be converted back to 3rd bedroom easily. Open floor plan, LOTS of storage, stained concrete and tile down, carpet and wood up. Pre-wired surround sound. Contemporary, neutral colors t-out. Master bath has 2 sinks. Murphy-like bed in 2nd bedroom. Check out the ''hidden shelf'' storage in 2nd bedroom! Balcony overlooks quaint and lush backyard. Community pool. This home is unbeatable at this price & in this location. HURRY!
 
6030 N. Florence Ave. Litchfield Park, AZ 85340 $160,000
Gorgeous Home in Litchfield Park! Excellent Curb Appeal!
http://6030nflorenceavenue.epropertysites.com/
Sick of seeing beat up homes that are missing everything? Look no further.... Welcome home to this great neighborhood in Litchfield park! With lots of curb appeal & space, this home features a large flexible floorplan and 4 bedrooms plus a den. Bright sunny kitchen features island, eat in area and pantry. Upstairs offers 4 large bedrooms with tons of closet space and bonus room/loft area - use your imagination! Master bedroom offers a bonus sitting area. Backyard could use a little bit of work, but other than that, this home is in great condition and move in ready! Short sale is being professionally negotiated by an attorney, so less stress for you. Hurry - this one will go quick!
 
Investment Properties!
 
Now is the time to buy!  We have access to thousands of foreclosures, distressed sales, and wholesale properties.  Call or email today for more details or a list of reduced priced homes!
 
 
Business Owner of the Month
 
Brian Krob & Brian Laubenthal with Aline Architecture Concepts, LLC.
Aline Architecture . Concepts, LLC. is a full service design company formulated in 2010 by Brian Krob, an Arizona registered Architect, and Brian Laubenthal, associate AIA and LEED accredited professional. We have a passion for design and work to capture the client’s vision for any type of project. Our experience includes restaurants, custom dream homes, commercial projects big and small, and various design projects from remodels, to elaborate new structures, clever furniture, abstract graphics, and imaginative installations.
Let us know if you have a design idea and need assistance in making it a reality. Whether it’s the:
·         home owner looking to remodel or add on;
·         entrepreneur looking to start out on their own;
·         business looking to expand or retrofit an existing space;
·         restaurateur looking for concepts, space planning and developing a new restaurant;
·         realtor looking for architectural photography or marketing to help their business;
·         business and home owner who wants a more energy efficient and healthier living/working environment;
·         commercial realtor or developer who needs a space as-built, space planning options, or brochures for their marketing
·         individual who needs custom artwork, product design, or small scale space enhancing features. and many more.
Together we possess 25 years of accumulated design experience in various project typologies, from the initial client vision through full design document stages and construction administration. We specialize in full service architecture and offer other services including but not limited to; environmental consultation, LEED analysis, architectural photography, product development, 3D modeling and graphic art. Our professional philosophy is to generate a holistic design that is environmentally conscious and attentive to the client’s vision, project scope and financial needs. Our firm is flexible to opportunities in the realm of architecture, art and design while being adaptive to the latest technological means to design, present, and coordinate projects.
We are a strong resource and can help answer any questions. Give us a call at 480.225.7359, email info@alinedesignstudio.com or visit our website www.alinedesignstudio.com.
 
Fun Facts & Tips
The 10 Rules of Air Travel
1.No flight ever leaves on time unless you are running late and need the normal delay in order to make it on time.
2. If you ARE running late for a flight, it will depart from the farthest gate within the terminal.
3. If you arrive very early for a flight, it will inevitably be delayed.
4. Flights never leave from Gate #1 at any terminal in the world.
5. If you must work on your flight, you will experience turbulence as soon as you touch pen to paper.
6. If you are assigned a middle seat, you can determine who has the seats on the aisle and the window while you are still in the boarding area. Just look for the two largest passengers.
7. Only passengers seated in window seats ever have to get up to go to the lavatory.
8. The crying baby on board your flight is always seated next to you.
9. The best-looking woman on your flight is never seated next to you.
10. The less carry-on luggage space available on an aircraft, the more carry-on luggage passengers will bring aboard.

Pets of the Month
Sassy and Uno
Cat of the month:  Sassy (Loves people)
Breed: Domestic Shorthair- Grey Tabby
Gender: Female - Spayed
Birthday: 2006-08-25
Thanks for visiting my page, I'm Sassy! Despite what my name suggests, I am a very affectionate and down to earth girl. I would love nothing more than to lay next to you on your couch while you brush my fur (to make me even more beautiful than I already am!). My other favorite thing to is hang out on the enclosed patio for some exciting bird-watching. If you are looking for a special cat that will be a great companion, then look no further!
For more information or to adopt Sassy, please visit http://aawl.org/pet_detail.asp?id=3403
 
Dog of the month:   Uno...STAFF PICK
Breed: Chihuahua mix
Gender: Male - Neutered
Weight: 11lbs.
Birthday: 2007-05-21
Hi. My name is Uno. I am a very sweet guy. I like playing with toys, people and fellow small dogs. Oh, and I love the chase game! I like sitting in laps too... do you have a lap? Cause I will sit in it if you do. I am not big on kissing too much - so I hope that's okay with you. Let's see.... what else.... I like treats. And I like getting and giving love. How do I sound?? If you have a friend for me at home, please bring him or her down to the adoption center to meet me! Please come down and see me soon!
For more information or to adopt Uno, please visit http://aawl.org/pet_detail.asp?id=3403
 
 
Community Leader of the Month
 
Renee Targos with Food for the Hungry
For this month's community leader, we would like to recognize Renee Targos and her work with Food for the Hungry.  Food for the Hungry was founded in 1971 and gave birth to the ministry now at work in more than 26 countries worldwide. Since then, Food for the Hungry has boldly spoken out for and served the poor, sending courageous heroes to help communities transform themselves. Founder Dr. Larry Ward held to the simple premise that “they die one at a time, and so we can help them one at a time.” Again and again, we turn to the words from Scripture from which our name emerged, “He upholds the cause of the oppressed and gives food to the hungry,” Psalm 146:7.
 
As a result of that call and by the grace of God across nearly forty years, Food for the Hungry has been a witness of the transformation of whole families and communities around the globe. We have “helped them one at a time,” and for that privilege, we are both joyful and humbled.
 
In reading this history of Food for the Hungry, our prayer is that you would be motivated yourself to a definitive and passionate response. Can we count on you to join us in responding? That is our prayer.
 
For more information or to volunteer or donate with Food for the Hungry, please visit http://www.fh.org.
 
We are never too busy for any of your referrals!   
 
We can help you or anyone you know who is:
interested in purchasing a property (including multiple first time home buyer programs)
selling a property
in need of finding a renter for an investment property
in need of finding a home to rent
We look forward to building our relationship with you and offering our services whenever you are in need!