Buying a home in Phoenix is an important decision. Sometimes, there seems like there is so much information flying around the various media, it's easy to lose focus. Stick to the basics, and you can't go wrong. When you are buying real estate in Phoenix, here are some of the LESS common factors to consider:
The commute: What is your commute to work? What's traffic like? Do you have access to public transportation, if needed?
School districts: Do you have or plan to have school aged children? How does the school district rate? How close is the school of choice? Did you know we provide FREE School Reports rating every school in the Valley, including private and charter schools? If you want it, Just ask!
Access to shopping: How close is your favorite grocery store or mall?
Are you on city or septic? Which utility company will you use? Do you have city water or well? And don't forget access to cable or high-speed Internet!
Public safety: How close are police and fire departments? How are the emergency medical services? Is distance to the nearest hospital important to you?
Recreation Areas: Do you have recreational interests to factor into your home search? How close is the nearest park, lake, mountain, or hiking trail? If you are moving to a new community, you may want to check out playgrounds and fitness centers.
All of these factors and more contribute to a quality of life that will affect your enjoyment of your new home. When you are ready to purchase a home, we welcome the opportunity to help you. Our team closes 7 times more homes than the average Realtor, and that's because we do it right. We KNOW the in's and out's of this very challenging real esate market in Phoenx, and we can guide you every step of the way.
Tuesday, August 24, 2010
Monday, June 14, 2010
Buying a Home in Phoenix, AZ
It's hard to believe you need to consider your next move before
purchasing real estate in Phoenix, AZ! It is always prudent to shop for a new home
with an eye on potential resale value down the road. While I can't
predict what the future will bring, here are some simple things you
can look for:
Views: Homes with a view often sell for a premium. This can be a
double edge sword as beauty is in the eye's of the beholder. Not
all buyers will place the same premium on views.
Lot Size and Shape: Level or rectangular lots are the most
desirable. Much of the value in real estate is in the home, not
the landscape. As a buyer, do not pay a premium for someone else's
landscaping efforts.
Neighborhoods: Buy a smaller house in a nicer neighborhood. Rather
than buy a large home with smaller homes around it, buy a smaller
home surrounded by larger homes. This will improve your
appreciation opportunities. Real Estate in Phoenix AZ is typically in subdivisions, and your Realtor can check the surrounding properties for you easily.
Closets: Closet space is always an issue.
Kitchens and Baths: A spacious, updated kitchen is among the most
important features in a home. Real Estate Buyers in Phoenix AZ often look for granite counters, updated cabinets, and plenty of counter space. Updated baths are also important.
Garages: The bigger the better.
Backyard Features: Decks and patios generally yield almost a
dollar-for-dollar return.
So, although it seems strange to consider your next move before making this one, Real Estate in Phoenix AZ is no diferent than any other place....location location location. It's important to have the features noted above when buying. But if they are not there, many can be added. What you can't add is location....views, lot size, size relative to neigborhood, etc. Be sure to consider these items when making your next move.
purchasing real estate in Phoenix, AZ! It is always prudent to shop for a new home
with an eye on potential resale value down the road. While I can't
predict what the future will bring, here are some simple things you
can look for:
Views: Homes with a view often sell for a premium. This can be a
double edge sword as beauty is in the eye's of the beholder. Not
all buyers will place the same premium on views.
Lot Size and Shape: Level or rectangular lots are the most
desirable. Much of the value in real estate is in the home, not
the landscape. As a buyer, do not pay a premium for someone else's
landscaping efforts.
Neighborhoods: Buy a smaller house in a nicer neighborhood. Rather
than buy a large home with smaller homes around it, buy a smaller
home surrounded by larger homes. This will improve your
appreciation opportunities. Real Estate in Phoenix AZ is typically in subdivisions, and your Realtor can check the surrounding properties for you easily.
Closets: Closet space is always an issue.
Kitchens and Baths: A spacious, updated kitchen is among the most
important features in a home. Real Estate Buyers in Phoenix AZ often look for granite counters, updated cabinets, and plenty of counter space. Updated baths are also important.
Garages: The bigger the better.
Backyard Features: Decks and patios generally yield almost a
dollar-for-dollar return.
So, although it seems strange to consider your next move before making this one, Real Estate in Phoenix AZ is no diferent than any other place....location location location. It's important to have the features noted above when buying. But if they are not there, many can be added. What you can't add is location....views, lot size, size relative to neigborhood, etc. Be sure to consider these items when making your next move.
Sunday, May 23, 2010
Moving and Packing in Phoenix, AZ
I ran across the following article from Realtor Magazine. This is reprinted with permission from NAR, copywrite 2009. As I sell Real Estate throughout Phoenix, AZ, I am frequently asked for tips on Moving, packing, etc. This was some excellent advice, and seems to sum it up well. So, read on, follow this advice, and you'll have a much easier move.
17 Tips for Packing Like a Pro
Moving to a new home in Phoenix, AZ can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you’ve covered all the bases.
1. Plan ahead by organizing and budgeting. Develop a master “to do” list so you won’t forget something critical on moving day, and create an estimate of moving costs. (A moving calculator is available at REALTOR.com)
2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
3. But don’t throw out everything. If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you’d feel if you no longer had it. That will eliminate regrets after the move.
4. Pack similar items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it's time to unpack.
5. Decide what, if anything, you plan to move on your own. Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that day.
6. Remember, most movers won’t take plants. If you don't want to leave them behind, you should plan on moving them yourself.
7. Use the right box for the item. Loose items are prone to breakage.
8. Put heavy items in small boxes so they’re easier to lift. Keep the weight of each box under 50 pounds, if possible.
9. Don’t over-pack boxes. It increases the likelihood that items inside the box will break.
10. Wrap every fragile item separately and pad bottom and sides of boxes. If necessary, purchase bubble-wrap or other packing materials from moving stores.
11. Label every box on all sides. You never know how they’ll be stacked and you don’t want to have to move other boxes aside to find out what’s there.
12. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.
13. Keep your moving documents together in a file. Include important phone numbers, driver’s name, and moving van number. Also keep your address book handy.
14. Print out a map and directions for movers. Make several copies, and highlight the route. Include your cell phone number on the map. You don’t want movers to get lost! Also make copies for friends or family who are lending a hand on moving day.
15. Back up your computer files before moving your computer. Keep the backup in a safe place, preferably at an off-site location.
16. Inspect each box and all furniture for damage as soon as it arrives.
17. Make arrangements for small children and pets. Moving can be stressful and emotional. Kids can help organize their things and pack boxes ahead of time, but, if possible, it might be best to spare them from the moving-day madness.
When buying or selling Real Estate in Phoenix, Az check with your Realtor for tips on movers, on moving, on packing, and all things related to your move. We've been through hundreds, if not thousands of moves with our clients. Take advantage of our experience.
17 Tips for Packing Like a Pro
Moving to a new home in Phoenix, AZ can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you’ve covered all the bases.
1. Plan ahead by organizing and budgeting. Develop a master “to do” list so you won’t forget something critical on moving day, and create an estimate of moving costs. (A moving calculator is available at REALTOR.com)
2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
3. But don’t throw out everything. If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you’d feel if you no longer had it. That will eliminate regrets after the move.
4. Pack similar items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it's time to unpack.
5. Decide what, if anything, you plan to move on your own. Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that day.
6. Remember, most movers won’t take plants. If you don't want to leave them behind, you should plan on moving them yourself.
7. Use the right box for the item. Loose items are prone to breakage.
8. Put heavy items in small boxes so they’re easier to lift. Keep the weight of each box under 50 pounds, if possible.
9. Don’t over-pack boxes. It increases the likelihood that items inside the box will break.
10. Wrap every fragile item separately and pad bottom and sides of boxes. If necessary, purchase bubble-wrap or other packing materials from moving stores.
11. Label every box on all sides. You never know how they’ll be stacked and you don’t want to have to move other boxes aside to find out what’s there.
12. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.
13. Keep your moving documents together in a file. Include important phone numbers, driver’s name, and moving van number. Also keep your address book handy.
14. Print out a map and directions for movers. Make several copies, and highlight the route. Include your cell phone number on the map. You don’t want movers to get lost! Also make copies for friends or family who are lending a hand on moving day.
15. Back up your computer files before moving your computer. Keep the backup in a safe place, preferably at an off-site location.
16. Inspect each box and all furniture for damage as soon as it arrives.
17. Make arrangements for small children and pets. Moving can be stressful and emotional. Kids can help organize their things and pack boxes ahead of time, but, if possible, it might be best to spare them from the moving-day madness.
When buying or selling Real Estate in Phoenix, Az check with your Realtor for tips on movers, on moving, on packing, and all things related to your move. We've been through hundreds, if not thousands of moves with our clients. Take advantage of our experience.
Thursday, April 29, 2010
Some Tips for Canadian Buyers
Right now, the Canadian dollar is near par, and Real Estate in Phoenix AZ is down substantially off it's peak in 2006. That has led alot of Canadian buyers to look at picking up a second home here in the Phoenix area. There has not been a better time to buy for Canadians for as long as I can remember.
When buying Real Estate in Phoenix AZ, there are some things Canadians need to rememeber. First, financing is difficult, unless you have a US Social Security Number. If you don't, I have had a client get a loan through US Bank, but they are the only lender I've heard of willing to finance a US Loan for a Canadian buyer. Without that, you'll need to pay cash. If you have enough equity in your Canadian home, you can take out a second on that to pay cash for your purchase here.
The next item is your Earnest money. When buying a real estate in Phoenix AZ, all buyers are required to put down a certain amount of earnest money. You cannot write a check on a Canadian account to do so. It takes 30-45 days for an international check to clear, so Title companies will not accept is. Be prepared with cash, or to do a wire Transfer. Don't plan on opening an account here and writing a check from that....you need a US Address to open an account, and you won't have that until after you have bought.
Last, pay attention to the condition of a the home. Yes, you can get a good deal on a foreclosure. However, Real estate in Phoenix AZ is now priced where an owner occupied sale is typically priced competeitively with a foreclosure, once repair costs are factored in. When you live in another country, making repairs is difficult, time consuming, and risky. If you can avoid it, do.
That's pretty much it. Buying real estate here in Phoenix can be a smooth process if you know what to expect, and you have an agent experienced in international transactions. But if you do, and you are ready, now may just be the best time to buy you will ever see.
When buying Real Estate in Phoenix AZ, there are some things Canadians need to rememeber. First, financing is difficult, unless you have a US Social Security Number. If you don't, I have had a client get a loan through US Bank, but they are the only lender I've heard of willing to finance a US Loan for a Canadian buyer. Without that, you'll need to pay cash. If you have enough equity in your Canadian home, you can take out a second on that to pay cash for your purchase here.
The next item is your Earnest money. When buying a real estate in Phoenix AZ, all buyers are required to put down a certain amount of earnest money. You cannot write a check on a Canadian account to do so. It takes 30-45 days for an international check to clear, so Title companies will not accept is. Be prepared with cash, or to do a wire Transfer. Don't plan on opening an account here and writing a check from that....you need a US Address to open an account, and you won't have that until after you have bought.
Last, pay attention to the condition of a the home. Yes, you can get a good deal on a foreclosure. However, Real estate in Phoenix AZ is now priced where an owner occupied sale is typically priced competeitively with a foreclosure, once repair costs are factored in. When you live in another country, making repairs is difficult, time consuming, and risky. If you can avoid it, do.
That's pretty much it. Buying real estate here in Phoenix can be a smooth process if you know what to expect, and you have an agent experienced in international transactions. But if you do, and you are ready, now may just be the best time to buy you will ever see.
Sunday, April 11, 2010
From Phoenix to Maui Real Estate
Hello Again from Ground Zero in Phoenix Real Estate!
Today we are going to do something a bit different. I've just gotten back from Maui, and I thought it may be interesting to compare Real Estate in Phoenix to Maui. Two very different markets, but with alot of similarities too.
If you are looking for Real Estate in Phoenix, AZ you have alot more choices than Maui.....prices in Maui cluster in the $300-$600 per SQUARE FOOT range. That means that, in Phoenix Real Estate terms, your 1300 sf home that sells for $120.000 here will sell for $400,000+ in Maui. Ouch. Affordable housing there is considered below $200.000. It's an interesting Real Estate Market. Condos on the beach are less expensive than say, California, but homes inland are more expensive. Go figure?
This also means that you need 3-4 times more for a down payment, AT A MINIMUM. Why? First, higher price equals higher amount down, even with the same percentage required. Second, FHA loans cap out, and you will need to put more money down to bring the loan down to an allowable amount.
For investors, it is interesting to note Maui County's policy on rentals. Quite a bit different than Real Estate in Phoenix AZ. If you are planning to use the home as a rental in Maui, they Double (that's right, DOUBLE, your property taxes. Imagine how THAT would go over in Phoenix.
Phoenix Real Estate is down over 50% from the bubble high of 2005. Maui homes are down about 25-30%. The belief there is that values will continue to drop some more, but in Phoenix not everyone is so sure. Prices in Phoenix have shown signs of stabilization.
In short, Real Estate in Phoenix, AZ has frankly fared more poorly than Maui. That's the bad news. The good news, is that it has created an unprecedented buying opportunity in Phoenix Real Estate. The median value is now down to $140.000. Prices are at 2003-4 levels. Sooner or later, they will return to historical norms, meaning that Real Estate in Phoenix AZ has probably 5-6 years of apprecdiation at the historical norm of 3% to catch up on now. That's 15-20% unrealized appreciation. Now that's a sound buy!
Today we are going to do something a bit different. I've just gotten back from Maui, and I thought it may be interesting to compare Real Estate in Phoenix to Maui. Two very different markets, but with alot of similarities too.
If you are looking for Real Estate in Phoenix, AZ you have alot more choices than Maui.....prices in Maui cluster in the $300-$600 per SQUARE FOOT range. That means that, in Phoenix Real Estate terms, your 1300 sf home that sells for $120.000 here will sell for $400,000+ in Maui. Ouch. Affordable housing there is considered below $200.000. It's an interesting Real Estate Market. Condos on the beach are less expensive than say, California, but homes inland are more expensive. Go figure?
This also means that you need 3-4 times more for a down payment, AT A MINIMUM. Why? First, higher price equals higher amount down, even with the same percentage required. Second, FHA loans cap out, and you will need to put more money down to bring the loan down to an allowable amount.
For investors, it is interesting to note Maui County's policy on rentals. Quite a bit different than Real Estate in Phoenix AZ. If you are planning to use the home as a rental in Maui, they Double (that's right, DOUBLE, your property taxes. Imagine how THAT would go over in Phoenix.
Phoenix Real Estate is down over 50% from the bubble high of 2005. Maui homes are down about 25-30%. The belief there is that values will continue to drop some more, but in Phoenix not everyone is so sure. Prices in Phoenix have shown signs of stabilization.
In short, Real Estate in Phoenix, AZ has frankly fared more poorly than Maui. That's the bad news. The good news, is that it has created an unprecedented buying opportunity in Phoenix Real Estate. The median value is now down to $140.000. Prices are at 2003-4 levels. Sooner or later, they will return to historical norms, meaning that Real Estate in Phoenix AZ has probably 5-6 years of apprecdiation at the historical norm of 3% to catch up on now. That's 15-20% unrealized appreciation. Now that's a sound buy!
Wednesday, March 3, 2010
Win Win Negotiations in Phoenix Real Estate
In todays Real Estate market in Phoenix, AZ, many buyers feel they can offer any price and the seller will have to accept, given market conditions. That was arguably true 2 years ago. Last year, however, was a turning point for Real Estate in Phoenix.
Over the last year, the available inventory of homes on the Phoenix AZ MLS fell by over 40%. Prices stabilized, and actually began rising at the end of the year. Recent statistics show even foreclosure prices have increased almost 2.5 % from Jan 2010 to Feb 2010.
In short, the tides are turning. To get an offer accepted, it needs to be a reasonable offer..."lowball" offers are typically rejected, and if not, usually result in a "retaliatory" counter offer, close to full price.
To ensure success, make it a win-win with both parties feeling they
have been treated fairly.
One of the best reasons to hire a real estate agent is that an
agent represents you and negotiates on your behalf. Agents act as
buffers, negotiators and advisers to help make the purchase process
a pleasurable experience.
When you make an offer, the seller can accept, decline, or counter
it. The best tips to ensure that your offer is accepted include:
1. Be pre-approved by a lender
2. Provide a substantial deposit
3. Limit your contingencies
4. Offer a fair price. Bargain, but realize that in most instances in Phoenix AZ
real estate today, the seller is not desperate.
My goal is to get you the best home under the best conditions at the best price. I will negotiate on your behalf, working hard to help you make a
smart buy.
The best negotiations are those in which the buyer and seller feel
the transaction was fair. The seller gets to move on and you get a
new home!
I'll be happy to answer any additional questions you might have
about the negotiation process. When you are ready to purchase a new
home in the Metro Phoenix, AZ area, give us a call to see what we can do for you.
Over the last year, the available inventory of homes on the Phoenix AZ MLS fell by over 40%. Prices stabilized, and actually began rising at the end of the year. Recent statistics show even foreclosure prices have increased almost 2.5 % from Jan 2010 to Feb 2010.
In short, the tides are turning. To get an offer accepted, it needs to be a reasonable offer..."lowball" offers are typically rejected, and if not, usually result in a "retaliatory" counter offer, close to full price.
To ensure success, make it a win-win with both parties feeling they
have been treated fairly.
One of the best reasons to hire a real estate agent is that an
agent represents you and negotiates on your behalf. Agents act as
buffers, negotiators and advisers to help make the purchase process
a pleasurable experience.
When you make an offer, the seller can accept, decline, or counter
it. The best tips to ensure that your offer is accepted include:
1. Be pre-approved by a lender
2. Provide a substantial deposit
3. Limit your contingencies
4. Offer a fair price. Bargain, but realize that in most instances in Phoenix AZ
real estate today, the seller is not desperate.
My goal is to get you the best home under the best conditions at the best price. I will negotiate on your behalf, working hard to help you make a
smart buy.
The best negotiations are those in which the buyer and seller feel
the transaction was fair. The seller gets to move on and you get a
new home!
I'll be happy to answer any additional questions you might have
about the negotiation process. When you are ready to purchase a new
home in the Metro Phoenix, AZ area, give us a call to see what we can do for you.
Thursday, February 18, 2010
What's Really Happening in Real Estate
Welcome to another "Ground Zero" report on Real Estate in Phoenix Az. I've been getting alot of questions about where we are heading in the coming year. While I don't have a crystal ball, here is what I see coming, in my opinion.
We finished up 2009 with increased sales. Total Inventory of homes was cut by 1/3 to 1/2, depending on the report. While Foreclosures still dominated, and filled the market, buyer demand ate up the extra inventory, and kept prices stable. In fact, from Sept 09 through Nov 09, prices if Real Estate in Phoenix Az rose 3.5%.
The year 2010 is shaping up to be very similar. There are alot of foreclosures still due to come on the market, but I think banks have learned that flooding the market with all of them, at once, is bad for the market, and for them. It is my opinion they will continue to release them at a slower, steadier pace.
Another thing that banks have learned about Real Estate in Phoenix AZ is that fixed up homes sell better, and for more, than trashed ones. I see a trend developing where banks paint and carpet foreclosed homes, and make some repairs as needed, prior to selling them. This way they can sell for more, recouping their costs and then some. Not all banks are doing this, but some are.
And, as I said in earlier blog, 2010 will be a year of short sales. In fact, I had my first situation this past week where a bank came to client of mine, and THEY SUGGESTED A SHORT SALE IN LIEU OF A LOAN MODIFICATION!That has never happened in my experience before, but is a sign of banks being more proactive this year in the Phoenix AZ Real Estate Market, to prevent foreclosures.
Sales were a bit slower in January but February has been strong, and indicators are that they will continue to be for the coming year. Forecasters predict a 5% rise in Metro Phoenix AZ Real Estate prices in 2010,and that, along with predicted higher mortgage interest rates, suggests it is a good time to buy and invest.
We finished up 2009 with increased sales. Total Inventory of homes was cut by 1/3 to 1/2, depending on the report. While Foreclosures still dominated, and filled the market, buyer demand ate up the extra inventory, and kept prices stable. In fact, from Sept 09 through Nov 09, prices if Real Estate in Phoenix Az rose 3.5%.
The year 2010 is shaping up to be very similar. There are alot of foreclosures still due to come on the market, but I think banks have learned that flooding the market with all of them, at once, is bad for the market, and for them. It is my opinion they will continue to release them at a slower, steadier pace.
Another thing that banks have learned about Real Estate in Phoenix AZ is that fixed up homes sell better, and for more, than trashed ones. I see a trend developing where banks paint and carpet foreclosed homes, and make some repairs as needed, prior to selling them. This way they can sell for more, recouping their costs and then some. Not all banks are doing this, but some are.
And, as I said in earlier blog, 2010 will be a year of short sales. In fact, I had my first situation this past week where a bank came to client of mine, and THEY SUGGESTED A SHORT SALE IN LIEU OF A LOAN MODIFICATION!That has never happened in my experience before, but is a sign of banks being more proactive this year in the Phoenix AZ Real Estate Market, to prevent foreclosures.
Sales were a bit slower in January but February has been strong, and indicators are that they will continue to be for the coming year. Forecasters predict a 5% rise in Metro Phoenix AZ Real Estate prices in 2010,and that, along with predicted higher mortgage interest rates, suggests it is a good time to buy and invest.
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