Well obviously if you have lived in Arizona for more than 24 hours, you know this plate is reserved for us fortunate enough to live in the Grand Canyon State. A new law that went into effect on January 1st 2009 suggest the legislature may not have know that. Or if they did know it they did not give the law enforcement members of this state enough credit to recognize it on site.

The new law says your license plate must be clearly legible so that even the name of this state at the top of the plate is not obscured. So if you have a license plate frame, like many sports fans to promoting their favorite team, then there is a good chance the state name is blocked and your plate is in violation.

So how much will this minor violation cost you if you get pulled over for the violation? It will be a $135 fine. So unless you are wanting to donate a little more to the budget deficit, make sure you check your plate before you leave for work this morning.

So now it is my turn to share and tag 7 others.

I love country music and classic metal

Yea it’s a weird combination I know. When I was young I loved heavy metal music such as Judas Priest, Tesla, Metalica, AC/DC, Ozzy, Guns n Roses, Led Zepplin and the rest of usuals. Not only did I listen to it, I lived the part with long hair, an earring, ripped jeans and the party scene. My parents always listened to country music and I hated it. But somewhere around 1997-1998 I found a couple of Shania Twian and Garth Brooks songs that I liked and started searching for those songs. It wasn’t long before I was listening to country on the radio all the time. It took me a good year to actually admit this to anyone. Today my ipod is filled with both. I still have every album Judas Priest ever did right next to every album by Rascal Flatts. Did my taste change? Obviously it did a little, but I believe country music changed. It is not nearly as twanggy and today’s country is more like southern rock.

Life before real estate

I have only been in real estate for a few months now, so what did I do before? Well short answer is a lot, but the main career I had was political consulting. I spent over a decade managing and consulting on various campaigns from state senate races up to gubernatorial and presidential races. I even served as a state rep in NH for one term. I had a fairly successful career and made a very good living. It was the lifestyle that eventually got to me. It is no exaggeration when I say I was working 80-90 hours most weeks and I had no idea who my kids were. I enjoyed it a lot and still love politics and am always looking for ways to keep my toes in the water just a little.

Habitual idea guy

My mind is always working. I have a former political buddy @timothylennon and we talk all the time about ideas. The ideas could be anything from new blog ideas, to a business idea to how we are going to strike it rich this week. If you could get paid to sit around and just think of new ideas on new businesses I would be a natural. I am always looking for a way to do something new in a new way and a way to capitalize on it.

Sports fanatic

I am a sports fanatic. Baseball, football, basketball, hockey, NASCAR, I love them all, but baseball is my favorite. I am typically a New England fan as I grew up there. I am a huge Red Sox fan from the first moment I can remember and also love the Celtics and Bruins. The one that does not fit is football. I am a Jets fan from the days of Freeman McNeil, Wesley Walker, Richard Todd, Johnny “Lam” Jones and the sack exchange. My latest ideas (see item 3 above) is to combine these 2 and I am preparing to launch a blog on valley sports bars as soon as I finish my redesign of the Reeves Team real estate websites. To this day I still remember almost every event in life around a sporting event that was happening at the same time. It helps great with uselesss trivia, which I must say I am pretty good at.

Coast Guard

I joined the Coast Guard on April 1, 1991. I remember watching the NCAA championship game between Duke and Kansas in the hotel room the night before I shipped off to boot camp. This may have been the best thing I ever did for myself. Three years after graduating high school my life was going nowhere. I was more interested in partying with my friends all night long than I was in anything else. One night when I was getting ready for bed, was so sure I was not going to wake up after to much partying that I actually wrote a note saying good-bye to everyone. The next morning I did wake up but somehow I realized I was in trouble. That day I made plans to join the service. After being in for a couple of years I could not wait to get out, but that being said it was still the best thing for me at that time.

I became a techno geek after saying I would never own a computer

Somewhere around 1990 my parents got their first computer. I could not believe it, who needed a computer? I would never have one of those, what a waste. Then in late 1991 my wife, a computer science major, needed a computer. I drove from NYC where I was stationed in the Coast Guard to New Hampshire to pick up that same computer my parents had. They had just upgraded to a x286 and I was getting their old one. I gave it to my wife for Christmas with still no plans to ever use it. Then I installed Prodigy. OMG this Interwebs thing was amazing. From that moment on I became a techno-geek. I read every PC magazine I could get my hands on and spent as much time as possible leaning DOS then later UNIX/LINUX and Windows. I have always tried to stay ahead of the curve when it comes to technology. It is a hobby I enjoy very much.

Dirt bike

I love motorcycles. I got my first 3-wheeler when I was about 6. Then just a few months later my father let me trade the 3-wheeler for a 22-rifle and I upgraded to a Suzuki DS-80 dirt bike. I raced enudro for a while. I was never a great enduro racer, but I enjoyed it a lot. When I was 17 I got my first new street bike. To this day I still enjoy riding and own a Suzuki RM-125 which I need to upgrade one of these days. My son is turning 4 in a few months and I cannot wait until the day I can get him his first dirt bike.

Justin said I’m supposed to post the rules, so here they are:

1. Link your original tagger(s) and list these rules in your post.
2. Share seven facts about yourself in the post.
3. Tag seven people at the end of your post by leaving their names and the links to their blogs.
4. Let them know they’ve been tagged.

And I just can’t wait for these 7 individuals to tell all about themselves.

Rob Gibbs

Nick Bastian

Evo Terra

Jeff Moriarty

Daniel Rothamel

Paul Martinez

Joel McDonald

My mother with 3 of my kids at rail opening

It is finally here, after years of planning and $1.3 billion, the METRO light rail has finally hit Phoenix and the Valley.

I am one of the few from Mesa who this will benefit. Living in west Mesa I am only a couple of miles from the furthest east stop on the rail, which is Main and Sycamore. Mesa could have really benefited from the light rail if it had gone into east Mesa. East Mesa to downtown Phoenix can be a a tough commute and the light rail could have greatly benefited those who wanted to work in the city, but wanted to live in a more rural area like east Mesa. Downtown Mesa also could have benefited from an expanded rail. With the museums the city has invested so heavily in, Mesa could have used another easy way to get commuters to their hidden treasures.

There is plans to expand the METRO in the coming years and hopefully central and east Mesa will be included in those plans. Until then we will have to just deal with what we have, which is a new clean, quick and convenient way to get to Tempe and downtown Phoenix.

I was one of the estimated 150,000 who braved the chilly (for Central AZ) weather on Saturday to take a crowded ride on the rail. I was happy with what I saw and look forward to using it to get to ASU games, Diamondback games and to Central Phoenix. I know not everyone is thrilled with the METRO project, but I hope the nay-sayers give it a chance before they give up to easily.

Thank you to Justin and Tammy McHood at the Arizona Mortgage Team for submitting this guest column.

If you are in the market to buy your first home, congratulations! In the ups and downs of the real estate cycle, we are currently in a buyers market because inventories are high and interest rates are low. One of the most common questions we get from first time home buyers is “what does it take to qualify for a loan?” and the answer to that question really depends on each individual situation.

In today’s market, the three most commonly used loan programs for first time home buyers are USDA loans, VA loans and FHA loans.

USDA Loans
The USDA loan is a great loan program if you are considering buying a home in an area that has been designated “rural”. Generally speaking, if the area that you are interested in living is in Maricopa or Pima county, it will probably not qualify for a USDA loan – but if it is in the State of Arizona and is not in Maricopa or Pima county, there is reasonably good chance that the property will qualify for the USDA program.

Here is a map where you can see if a specific property qualifies for the USDA loan program.

A few of the highlights of the USDA loan program include:

• A total of around $200 is required out of pocket (as close to “no money down as I know of right now)
• Need above a 620 middle credit score
• Property must be designated “rural” by the USDA
• Need to meet income guidelines

FHA Loans
The most popular loan option for first time home buyers is the traditional FHA loan. In recent years as other mortgage programs have been eliminated by lenders, the FHA loan is now as popular as it ever has been.

With FHA loans, you have a choice of 3 basic loan programs, the 1 year adjustable rate loan, a hybrid adjustable rate loan and the 30 year fixed rate loan. Right now, the FHA fixed rate loans are by far the most popular option because fixed rates are close to the same interest rate as the adjustable ones are – and sometimes even lower!

A few of the highlights of the FHA loan program include:

• 3.5% down payment required
• Seller may pay other closing costs such as discount points, 2/1 buydown account, etc.
• Need above a 580 middle credit score
• Must be primary residence

VA Loans
In order to qualify for a VA loan, a veteran must meet the eligibility guidelines set by the Department of Veterans Affairs. VA Loans enable veterans that qualify to put no money down on a mortgage loan up to $417,000 in Arizona.

As with both the FHA and the USDA programs, the VA program is more popular this year than last year – mostly due to the elimination of many first time homebuyer programs. I would also expect to see a rise in the number of VA loans being done now that FHA requires a 3.5% down payment and VA still allows up to 100% financing.

A few of the highlights of the VA program include:

• A VA loan requires a funding fee that can either be paid by the borrower or may be allowed to be financed into the loan. This funding fee may also be waived under disability guidelines established by the VA.
• VA loans can finance single family residence home, condominium or manufactured home Need above a 580 middle credit score, but it must be your primary residence
• Must have a valid Certificate of Eligibility (COE)
• Must be your primary residence

As a summary to the three most popular programs for first time homebuyers, here are some of the most popular “rules of thumb” as it relates to picking the best financing option for your new home:

Are you a veteran? Go with a VA loan.

Are you interested in living in a property that has been designated as “rural”? Go with a USDA loan.

Are you wanting to buy a home with little or no money down? Go with a USDA or VA loan.

Do you have at least 3.5% saved for closing costs and have a credit score below 620 but above 580? Go with a FHA loan.

Do you have a credit score below 580? Plan on spending time getting your score above 580 to be able to qualify for any kind of loan.

By using one of these three great loan programs for first time home buyers, it is still possible to find a great home, buy it for a below-market value, lock in a historically low interest rate and have immediate equity in your home. As with everything, all good things must come to an end and if you are a first time home buyer, don’t miss out on this golden opportunity!

Phoenix at sunset

The Arizona housing market has taken a hit over the last 18 months, but don’t expect it to stay down for long. The main reason? Supply and demand.

Those three words dictate prices, no matter the product. Arizona may have a plentiful supply of housing right now, but we are still growing faster than the national average. With growth will come more families looking for homes to live in. Since 2000 only California, Texas and Georgia have added more new residents than Arizona and only Nevada has had a higher percentage increase over the last decade.

The rate of growth in Arizona was 2.3% this year over last. While that is down from 2.8% the year before, it is still much higher than the national average of under 1%. More than 86,000 people moved into Arizona last year from out of state.

I have been talking to a lady this week who is looking to relocate here after the first of the year from Oregon. And who can blame her when it is in the upper 50’s and sunny two days before Christmas. With a continued influx of new residents to likely continue, look for the market to bounce back here more quickly than many areas of the country.

Used in millions of homes throughout the last quarter of the 20^th century, asbestos insulation can become a real dilemma for homeowners due to causing a variety of health problems, including Peritoneal Mesothelioma and Malignant Mesothelioma. These types of cancer take the lives of thousands each year. 

Non-regulated asbestos material can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. Asbestos removal in public facilities, homes and workplaces must be undertaken by a licensed asbestos abatement contractor. Once the removal is complete, green insulation options should be given serious consideration, such as: Cellulose, Cotton Fiber and Lcynene.

The United States Green Building Council(USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S.  during that year. The numbers continue to improve as more eco-friendly options become available, and those kinds of figures have finally begun to attract those who thought eco-friendly construction was just a bunch of hogwash.

On January 1st the light rail will assume normal hours of operation and will begin charging their regular fees. During the week days the train will arruve every ten minutes from 6 AM until 7 PM and trains will arrive every 20 minutes during other normal operation hours.

We hope to see you next Saturday. If you want more information on the METRO light rail check out our friends at RailLife.com.

Justin McHood of the Arizona Mortgage Team added a comment that discussed just that issue. Here is his comments for everyone.

Many times people I speak with ask me “what is the minimum FICO score that I can have and still get approved for a loan? In today’s mortgage world, many investors are requiring a minimum FICO score of 580 for a FHA loan - so if there is currently a “magic minimum FICO score”.. think “580.”

Thanks Justin. Justin and his wife Tammy are currently on our blog roll which you can find on the right side of this page.

Chart from myfico.com

Your FICO score is based on 5 different categories:

Payment history is 35%
What they are looking for here is if you pay your bills on time. Also any past history of judgments, bankruptcy or collections will effect this number.

Amounts owed is 30%
What is your ratio of debt owned to debt available? The higher the percent of debt owed to debt available the lower your FICO score will be.

Length of credit history is 15%
How long has your account been active? If you have had an account for ten years that will help your score more than an account that has only been open one year. If you have many credit cards and are considering closing some, this is a factor to consider.

New credit is 10%
This includes the number of new accounts compared to accounts that have been opened for a longer time and also new credit inquiries.

Types of credit is 10%
What type of accounts do you have, credit cards, retail stores, mortgages, installment loans etc.

Remember when you hear those ads on the radio trying to sell you something, there is no magic pill or fairy dust to repair your credit. Paying your bills on time and not carrying to large of a balance is the best way to keep your score high. Those tactics will be the best ways to keep your credit score healthy and get the best finance rate you can when buying a home.

For more information take a look at myfico.com

Santa in Marlborough Mesa

The West Mesa community of Marlborough Mesa will be holding their Annual Toy Drive this Saturday, December 13th from 9-12am. Santa will be in attendance and breakfast will be provided. Please bring an unwrapped toy for the East Valley Child Crisis Center.

The event will be held in the Mesa Marlborough Park at the corner of Wycliff and Peralta.