Monica Monson's Luxurious Living Digital Magazine | June 2009

It's finally here! Check it out and let me know what you think. It includes some fabulous properties at great prices. Enjoy!

Buyer Tax Credit Loan Guidance Coming Soon

Detailed guidance on the federal government's plan to provide short-term loans to borrowers using the First-Time Homebuyer Tax Credit is expected to be out shortly, but a spokesperson from the U.S. Department of Housing and Urban Development, which is writing the guidance, couldn't give a firm release date.

HUD policy staff are "still working out the details on it," HUD spokesperson Lamar Wooley told REALTOR® Magazine today. "So we expect it to be published shortly."

The short-term loan program, which would effectively monetize the first-time homebuyer tax credit by permitting eligible lenders to make bridge loans collateralized by the borrower's expected tax credit, was announced by HUD Secretary Shaun Donovan at the Real Estate Summit NAR hosted on the opening day of its 2009 Midyear Legislative Meetings in Washington last week. At the summit, Donovan said the loans would enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash could be used as a downpayment.

"FHA will permit trusted FHA-approved lenders and HUD-approved nonprofits, as well as state and local governmental entities to 'monetize' the tax credit through short-term bridge loans," Donovan said. "We think the policy is a real win for everyone, ensuring that borrowers can tap into the numerous organizations that are already part of the FHA network to receive this additional benefit. FHA will be publishing the details shortly."

It's unclear at this point what shape the guidance will take and whether authorization for the loans will be available across the board or only in states in which the state housing finance agency already has a tax credit bridge-loan program in place. There are 10 states today that have such a loan program, according to the National Council of State Housing Agencies: Colorado, Delaware, Idaho, Kentucky, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, and Tennessee. You can access details of these loan programs on the NCSHA's Web site, "First-Time Homebuyer Tax Credit Loan Programs."

When it's released, the guidance is expected to be issued as a HUD Mortgagee Letter and will likely discuss which federal, state, and local governmental agencies and nonprofit organizations will be permitted to make the loans, and whether lenders such as FHA-approved mortgagees will be permitted to make the loans. The guidance could also cover how loan amounts will be limited, what happens if repayment problems occur, and what repayment terms would look like. REALTOR® Magazine will be checking with HUD regularly on the status of the guidance and will report its availability as soon as it's issued.

—By Robert Freedman for REALTOR® Magazine

Luxury Estate in Cactus Acres - New to Market

Experience this home at http://www.tourfactory.com/512374

Gorgeous New Listing - Cactus Acres, N. Scottsdale

This beautiful residence is now available for sale. Gorgeous interiors, casual and formal entertainment areas, large chef's kitchen, master suite with spa bath and dual "everything", home theater, lighting automation and so much more. The charming guest casita offers one room with fireplace and a full bath. The backyard is a playground for adults and kids alike offering a freeform pool with rock waterfalls, putting green, grass, sport court, built-in BBQ and plenty of covered patio space. Offered at $2,150,000 Check back for the complete Photo Gallery & Virtual Tour - Will be posted next week!

Gorgeous New Listing - FireRock Country Club

BEST BUY in FireRock Country Club, this gorgeous home offers privacy and an array of amenities. The greatroom offers a large stone fireplace and retractable glass doors that open to an upper patio area. The chef's kitchen is filled with Wolf and Sub-Zero appliances and is adjacent to an intimate dining room. All bedrooms are oversized with private baths and french doors to outside areas. Downstairs, a greatroom with wet bar is perfect for entertaining with a private home theater, fitness/flex room and access to the lower patio. The spa overflows down a rock waterfall into the resort pool below. Click above for the virtual tour.

Monica Monson is now a Certified Distressed Property Specialist

After two days of classes in Scottsdale through the Hogan School of Real Estate, I have been certified in short sales, foreclosures and REO properties. The information was invaluable and I would highly recommend it to agents who are serious about the business and want to know more.

Like it or not, distressed properties are not going anywhere and in my market of $1 million plus, there are certainly more to come. That's why it's so important to interview agents and choose one who can be your best guide - it's an everchanging process and takes more patience than one can imagine.

If I can be of service, give me a call!

Monica Monson Earns Membership in Prestigious Million Dollar Guild

Scottsdale, AZ, 2009/4/22 – Monica Monson, of Russ Lyon Sotheby’s International Realty, has been recognized by the prestigious Institute for Luxury Home Marketing for her recent performance in the million-dollar and above luxury home market within the Scottsdale.

“Real Estate professionals who have earned admittance to The Institute’s Million Dollar Guild not only have specific upper-tier market knowledge, but they also understand the unique needs of affluent buyers and sellers and recognize the importance of being discreet,” said Institute President Laurie Moore-Moore. “Whether you’re buying or selling a multi-million dollar property, you can depend upon The Institute’s Million Dollar Guild members to have the competencies necessary to help you meet your objectives.”

“To have this recognition of my accomplishments in serving Scottsdale is an honor,” said Monson. “It has strengthened my commitment to the community and its residents.”

Members of the Million Dollar Guild are Certified Luxury Home Marketing Specialists (CLHMS) who have documented their success in assisting affluent buyers and sellers with million-dollar properties. The recognition is awarded by the Institute for Luxury Home Marketing which trains real estate agents in the luxury home market and awards international designations to those who meet stringent performance standards.

Monson has been in the local real estate market since 2002 and specializes in the Scottsdale and Paradise Valley luxury markets. She is a top tier agent with extensive knowledge and years of traditional and online marketing experience. Her premium client services are unmatched in the industry.

About The Institute for Luxury Home Marketing
The Institute for Luxury Home Marketing exists to help real estate professionals around the world provide high quality service to buyers and sellers of luxury properties. Institute members have completed special training to build expertise in the marketing of upscale homes and estates and those who meet performance standards may earn the prestigious Certified Luxury Home Marketing Specialist designation. Information and an international membership list can be found at www.CLHMS.org. Members are also listed on the Wall Street Journal’s RealEstateJournal.com website.

Monica Monson Earns International Designation for Luxury Home Marketing Expertise

(Scottsdale, AZ, 4/22/09) -- Monica Monson with Russ Lyon Sotheby’s International Realty has earned the prestigious Certified Luxury Home Marketing Specialist designation in recognition of her experience, knowledge and expertise in the luxury home market. “Monica Monson is an example of a real estate professional who has worked to develop market knowledge and the special skills and competencies necessary to provide exceptional service in the fine homes and estates marketplace,” said Institute President Laurie Moore-Moore, upon announcing Monson’s designation. “Affluent buyers and sellers can turn to sales professionals who have this designation and be confident that they have special expertise and experience in the luxury home marketplace.”

“I am committed to providing outstanding service to my clients,” said Monson. “The Certified Luxury Home Marketing Specialist designation is evidence of my ability to meet the needs of affluent buyers and sellers. My membership in The Institute for Luxury Home Marketing also provides me with marketing tools and networking capabilities that benefit my clients.”

Monson is an award-winning real estate professional who has gone through special training and met performance standards in the upper tier market. She has been in real estate since 2002 and specializes in the greater Scottsdale luxury market. She is a top tier agent with extensive knowledge and years of traditional and online marketing experience.

For current information on the upper tier market, contact Monica Monson at Russ Lyon Sotheby’s International Realty, 480-250-0848, e-mail monica.monson@sothebysrealty.com or visit www.monicamonson.com.

BEST BUY in Scottsdale's Whisper Rock Estates, WAS $5.2 Million, NOW $2.85 Million!

Whisper Rock Estates, Lot 89

Monica Published in POST Magazine

Here's a link to an article I wrote about Optima CamelView Village, published in POST Magazine. (just found the link...better late than never!) The article was about the Penthouse and the urban lifestyle that Optima offers it's residence. It's an amazing community. Read on to find out why.