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| Community Updates, Tips and News |
Today's Tips |
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 Read a good book? Hear of new road construction starting? Witness vandalism? Have a family member in the military who would appreciate a letter?
Share your thoughts with residents in the neighborhood... POST IT HERE!!
**Please keep your comments clean and appropriate for readers of various age groups. All messages and comments are read and approved before posting.
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Scottsdale Gallery Offers Free Community Events
Posted on: 2009-09-14
Art Source for Design, the newest addition to the Scottsdale arts scene is planning monthly events, offering the community free evenings of art, live music, food and wine. This month's grand opening event drew over two hundred guests who enjoyed a three hour live performance by acoustic duo Carolyn Sills & Gerard Egan, fresh off their European tour. Attendees also enjoyed wine tastings provided by AZ Wine and delicious chef tastings by local restaurants Arrivederci Restaurant, Bad to the Bone, Pasta Primo, Grapes Pizza & Wine Cuisine and Fresh MInt.
'The idea is to come together to provide a free enjoyable
evening for guests and at the same time gain exposure for local businesses. It's a win-win situation', states
gallery director Judi Bagnato.
Due to the overwhelming success of the opening night event, Art Source for Design will host monthly events, artist exhibitions, fundraising auctions, all bringing together local artists, musicians and chefs.
Vist www.artsourcefordesign for more info or call 480-991-9170.
Website: www.artsourcefordesign.com
Email: info@artsourcefordesign.com
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5 Reasons to Use a Licensed Realtor When Buying Property
Posted on: 2008-11-06
1) Our services are free to you. Buyers do not pay ANY commissions.
2) Today’s realtor knows how to efficiently search properties online that meet your criteria, desires and needs foregoing long days and weeks driving around in the car looking at unnecessary properties. We search properties daily, so we can find them much quicker knowing which codes and criteria to enter in the MLS narrowing the potential list of “go sees”. AND, a good realtor will preview the selected properties before taking you out, eliminating potentially wasted time for you.
3) The negotiation of the property is our expertise. You need a third party, unattached and knowledgeable professional to keep you from making poor buying decisions for a purchase worth hundreds of thousands of dollars. You may be emotional and may want to make any offer possible to get the property you fell in love with at first site.
We know how to strategically structure an attractive offer to the seller through a fair price, appliances, home warranties, closing cost contribution, etc. With that in mind, we also know how to get you the best possible price. The realtor knows how to accurately assess the neighborhood’s current market value the property is located in to strategically create the right offer.
4) Beyond the negotiation process is the actual transaction. The realtor knows the real estate laws, rules and regulations which will guide you through the transaction. We handle all the paperwork and track time periods so that nothing falls through the cracks. We know when to order a home and termite inspection, what kinds of additional addenda are required, and what additional legal rights YOU have. For example, what’s on the buyer advisory, the value of a home warranty, explaining the Seller Property Disclosure Statement and what to be aware of, explaining what terms like “Superfund or WQARF” are and what they mean to you…etc.
There are also other valuable things your realtor can point out. For example, you have allergic reactions to scorpion bites, and the particular community you are interested in has an abundance of scorpions throughout the area.
5) The entire team that comes with your realtor will all watch out for your best interests. They’re qualified and trustworthy professionals that work with your realtor every day. For instance, a quality home/termite inspector that won’t do a poor job on the inspection that would later come back to haunt you; a reliable mortgage broker that will guide you to the right mortgage program that meets your specific needs so you don’t end up finding a loan officer out to make a quick buck who over approves you, setting you up for a foreclosure in 2 years; an efficient and knowledgeable escrow officer that will guide you through that stack of paperwork your signing at the title company.
Why would you spend hundreds of thousands of dollars, most likely the biggest purchase you’ll make in your life, without using a licensed professional? Would you walk into a trial hearing without an attorney representing you?
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How To Drive in Phoenix, Arizona
Posted on: 2008-08-12
1. 'Phoenix' actually consists of Scottsdale, Chandler, Anthem, Paradise Valley, Maryvale, Ahwatukee, Gold Canyon, Tempe, Mesa, Gilbert, Glendale, Peoria, Tolleson, Avondale, Goodyear, Litchfield Park, Sun City, Sun City West, Sun Lakes, Surprise, and half of the Mexican border.
2. The morning rush hour is from 5:00 am to noon. The evening rush hour is from noon to 9:00 pm. Friday's rush hour starts on Thursday morning.
3. The minimum acceptable speed on most freeways is 85 mph. On Loop 101, your speed is expected to match the highway number. Anything less is considered 'Wussy'.
4. Forget the traffic rules you learned elsewhere. Phoenix has its own version of traffic rules. For example, cars/trucks with the loudest mufflers go first at a four-way stop; the trucks with the biggest tires go second. However, in the East Valley, SUV-driving, cell phone-talking moms ALWAYS have the right of way.
5. If you actually stop at a yellow light, you will be rear ended.
6. Never honk at anyone. Ever. Seriously. It's an offense that can get you shot.
7. Road construction is permanent in Phoenix. Detour barrels are moved around for your entertainment pleasure during the middle of the night to make the next day's driving a bit more exciting.
8. Watch carefully for road hazards such as drunks, dogs, barrels, cones, cats, mattresses, shredded tires, rabbits, vultures, javelinas, roadrunners, and the coyotes feeding on any of these items.
9. Maricopa Freeway, Papago Freeway and the 'I-10' are the same road. SR202 is the same road as The Red Mountain FWY. Dunlap and Olive are the same street too. Jefferson becomes Washington, but they are not the same street. I-17 is also called The Black Canyon Freeway as well as The Veterans Memorial Highway. The SR51 has recently been renamed to Piestewa Freeway because Squaw Peak Parkway was too easy to pronounce. SR101 is also the Pima FWY except west of I-17, which is also The Black Canyon FWY, and The Veterans Memorial HWY. Lastly, Thunderbird Rd. becomes Cactus Rd. -- but, Cactus Rd. doesn't become Thunderbird Rd. because it dead ends at a mountain.
10. If someone actually has their turn signal on, wave them to the shoulder immediately to let them know it has been 'accidentally activated.'
11. If you are in the left lane and only driving 70 in a 55-65 mph zone, you are considered a road hazard and will be 'flipped off' accordingly. If you return the flip, you'll be shot.
12. For summer driving, it is advisable to wear potholders on your hands.
13. Please note that there are many, MANY more issues to the phenomenon of driving in Phoenix -- like the 4-cars-through-a-red-light rule -- but these will at least get you acquainted with our unique life on the road.
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How to Price Your House to Sell in Today’s Market
Posted on: 2008-07-30
This market is unlike what many realtors who have only been in the business a few years have experienced and has been forgotten by those who have sold real estate for over ten years.
Accurate Comparative Market Analysis. Be sure you/your realtor researches the neighborhood comps accurately. The pending contracts are key to you as a new listing on the market. In a declining market, you MUST be ahead of the activity. This is why pending sales tell us such important information, such as what homes must be listed at to attract potential buyers. They have more current data than the properties that sold a few months ago and are more relevant than the active listings sitting on the market.
Pay close attention to the square footage of the homes under contract in the neighborhood. What is the average dollar per sq foot of those homes? How long was each of the properties with pending contracts on the market?
How quickly do you want to sell? Compare the list price and days on market of the pending sales. Does your home fit into the same sq foot range? If not, how long has it been since a home of your size has sold? For instance, your house is1100 sq ft and the ones that are under contract are all between 1500 and 3000 sq ft.
The active listings are important as well. How many are on the market within your size of home? What is their condition compared to yours? How many short sales and foreclosures are coming up? An abundant amount of upcoming short sales and foreclosures will only decrease the value of your home. Therefore, your home should be priced on the aggressive side to get it sold quicker at a higher price.
Foreclosures and short sales matter. Many clients tell me that those houses don’t count because “their” house is in good condition. Unfortunately, they do count. In most cases, appraisers work for the lenders. They are appraising the value of the home to protect the lender’s asset.
Abundant inventory and upcoming short sales and foreclosures are a factor in the appraisal. Therefore, if you price your home too high because it’s in “mint” condition, and you’ve received an offer (so you’ve had it off the market for about 2-3 weeks as PENDING) and the appraisal doesn’t come in at purchase price, you’ve just wasted another 3 weeks off the market in which the cumulative days on market has increased during that time. YES, it’s true.
What about cash buyers? If you have enough cash to buy a house without a mortgage, I have one question for you. Put yourself in the buyer’s shoes, would you pay more than the appraised value for a property even if you had cash? Probably not, that’s why you have enough cash to buy a property outright.
Price Reductions should be appropriate. If you’ve had more than 10-15 showings in the first 30 days and no offers, a price adjustment is probably necessary. I’m not referring to a few hundred dollars or a couple thousand dollars –this is referred to as ‘chasing the market’ and you will always be one step behind. Talk this over with your realtor and look at the facts. The numbers don’t lie. No one’s “opinion” matters here. If the market won’t accept your asking price or even make an offer, it might not be fair but it is reality. Remember, your house is only worth as much as a buyer is willing to pay for it. How many homes went from Active listings to Pending contracts since you listed? Why did you miss those buyers?
Consider signing a Price Reduction form for your realtor in advance. Your realtor will not reduce the price without consulting you first and mutually agreeing on a new price. If you suspect he/she would, then why did you hire a non-trustworthy realtor to handle the most expensive asset you own?
No Reduced Price Signs! This is a classic and common error on behalf of realtors around the globe. You get stressed out and then your realtor gets stressed out and panics. He/she puts out the PRICE REDUCED sign rider and plasters it all over the MLS and marketing material. This has only informed the public that your house has something wrong with it and won’t sell. Take a proactive approach…..look at the comps again and I bet that price reduction is in order.
Remember, full time licensed realtors sell homes every month whereas you may only sell a few throughout your lifetime. They are trained and educated in the legal requirements and will protect you and the most expensive asset you own. “Home sellers who use a real estate professional can expect to sell their homes for 16% more, on average, than sellers who try to do it themselves.”-- 2005 National Association of REALTORS® Profile of Home Buyers and Sellers
I suggest interviewing three realtors before making your choice.
Upcoming topics:
• Ten questions to ask prospective listing agents
• Home & Design: What’s In and What’s Out
• 10 Tax Changes for 2008
Website: www.PhoenixHomesForLife.com
Email: Kelli@85085RealEstate.com
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| State budget agreement nears
Posted on: 2008-06-24
Programs that rely on state funding may not be able to keep their doors open. And teachers are waiting for their contracts for the new school year. Meanwhile, the Arizona legislative leadership has all but run down the clock in closed-door sessions at the State Capitol.
The end of the fiscal year (June 30th) is literally hours away – yet only today are we hearing of a deal on the state budget.
To read more about the proposed budgets, click here.
With the announcements of the budget proposal, little time remains for public scrutiny. While it is the responsibility of the governor and legislators from both parties to make sure moderate, forward thinking policies are reflected in the state spending plan, it is our responsibility to hold our elected officials accountable to pass a budget that protects families, education, and veterans.
Let your legislators know that each proposal deserves scrutiny, and that we expect them to ensure the budget protects Arizona’s future.
Review the budget and write your legislators if you see something that raises a red flag. Make sure your voice is heard – before it’s too late.
Email: KelliGrant@85085RealEstate.com
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Buyer Beware! Fuel Economy Technology a Bust
Posted on: 2008-06-17
Although the topic is not directly about real estate, it is about people and their money. It’s a tough economy and as we're all well aware of, we've seen our share of real estate and lending scams! And, as if the economy wasn't struggling enough, we have yet another way to be taken advantage of through our desire for a better environment or from our stress of continually increasing gas prices.
Have you heard of the Pre-Ignition Catalytic Converter claiming, “The PICC, Pre-Ignition Catalytic Converter is a breakthrough new technology that could get your car up to five times the gas mileage!”
Recently, a family member contacted me who was thrilled that they had found something they thought would be the golden ticket to saving fuel costs . . .and saving the environment. Several phone calls were put out to mechanics about installing this “revolutionary” technology that was sure to be the next big thing, and since it wasn’t well-known yet - they were excited to be getting it at a fair price before supply and demand went through the roof and the cost tripled.
BUYER BEWARE!! I immediately opened my trusty source for everything you want to know and more, the good 'ol Internet. I Googled the term PICC fuel and found all of the following information that supports this is a TOTAL SCAM. What’s most scary is that there are ads in reputable magazines such as Popular Science, so why would someone question its validity? It sure sounds good!
I share this with you because it enrages me as much as any real estate or lending scam would. Taking advantage of people who are completely frustrated and vulnerable in such uncertain times is UNacceptable. So, please click the links and forward to any friend or family member who may contact you with this golden key to the future either because they are passionate about saving the environment or simply cutting their fuel costs in half. And, if all these links still don’t convince you (you’re dillusional), remember that by installing this, you would void all manufacturer’s warranties on your vehicle.
If it’s too good to be true, it probably is! The links below are just a few of the sites that I found with facts, news stories and bulletins about the creator of PICC, Dennis Lee, this so-called technology and other scams he’s created. I encourage you to search the facts for yourself if this was something you were considering!
http://www.funwithbutter.com/search/label/Automobile
http://www.electricitybook.com/dennis-lee-scam/
http://www.phact.org/e/z/dennisLeeonstealsanddeals.WMV
http://www.phact.org/e/dennis.html
http://www.nmsr.org/denislee.htm
http://www.rv.net/FORUM/index.cfm/fuseaction/thread/tid/21034695.cfm
Website: www.85085RealEstate.com
Email: KelliGrant@85085RealEstate.com
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Buying a New House Before Foreclosing
Posted on: 2008-03-21
Walk Away or Stay?
There are thousands of homeowners facing foreclosure who simply walk away from their properties and their mortgages. The lenders are left to deal with the financial fallout.
It’s starting to become a business decision and not just a financial duress decision causing homeowners to walk away. Many who owe more than their houses are worth abandon their homes and mortgages and it just might make financial sense, especially if you are not too concerned about the hit to your credit score.
Some homeowners are combining that strategy with a new one. They are buying new homes before their old homes go into foreclosure, and then walking away from the old homes and the old mortgages.
What these homeowners hope to achieve is getting out of their current untenable mortgage situations with a new home and a new mortgage. And it appears that so long as the homeowners don’t mind seeing their credit scores tumble, this strategy will work.
The homeowners will need to come up with a new lender and sizable down payment for the new home, but once they’re in, there is nothing that the old lender can do.
Since the new home with the new mortgage, has no connection to the old home and the old lender, the old lender can not come after the new home to collect any debt owed on the old home.
What is also a sign of the times is that there are now realtors who specialize in helping homeowners pursue this strategy and lenders who also specialize in these situations.
Is this the right thing to do? I was raised with traditional values that you should pay back the money you borrowed. However, when a colleague approached me with the concept, I have to admit that it made me think. I have clients who continually ask my advice about the home they purchased in the height of the market . . and when they consider the crushing blow they’re taking, they want to know what they can do.
Some have crunched numbers and it may take an additional 7 yrs to break even...and if there are short sales and foreclosures attracting buyers who can enter the neighborhood for up to $300,000 less than what others entered into - what does that mean to the neighborhood? Are these new neighbors taking care of their homes and their yards in the same manner? Are they upgrading and landscaping to the same level as those that paid hundreds of thousands more for their homes?
Even when the overall market returns, will the neighborhood be an entirely different community than when others purchased the home? And, if you’re at a time in life saving for retirement and the primary residence was supposed to be an appreciating asset - is it better to walk away with a minor ding on your credit for going through a short sale and 'starting over'?
I don’t have the answers, but I can say that, suprisingly, this concept made me stop and consider!
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What Recession?
Posted on: 2008-02-28
Excuse my candor on this one!
So, yesterday I'm listening to two gentlemen talk about how they don't see this so-called recession but the media sure keeps trying to convince us we're in one. Neither of their businesses has been affected by it- profits are up about 25% from last year. I was intrigued by the conversation. The housing market has undoubtedly caused some pain for a few industries, but I think that was an interesting point to ponder. It's not the first time I've heard it and I have to say I agree.
And, THEN I saw a clip of Good Morning America this morning about 'Recession Rescue'. I saw this couple talking about how they're upside down in auto loans and Diane compared it the housing market. 'Is this the next sign of recession?' or something like that. WHAT?
Did I really just hear that??? Are you KIDDING me?? My favorite part is
'Extended Car Loans Mean You'll Be Paying Much More in the End'
No Sh**! Really?? That is the actual GMA headline. This should be one of Jay Leno's headline jokes.
Don't even tell me that a sign we're in a recession is: some'one' (I have a different word) trades in a brand new car for another brand new car within a year or two of buying it (not leasing it), and had a 100 year loan on it (and did this 3 times in 5 yrs) and doesn't understand that they're accumulating more debt every time they do it and that it has to be explained that they will pay more in the end by doing this. Maybe they thought when they gave the car back and got a new one, they were getting a 'do-over' and it was a wash.
Here's Your Sign.
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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| The Rotten House
Posted on: 2008-02-20
DISCLAIMER: I don't condone this behavior, approve of such acts, or recommend doing this at home....but it sure is funny!!
The Rotten House
She spent the first day packing her belongings into boxes, crates and suitcases.
On the second day, she had the movers come and collect her things.
On the third day, she sat down for the last time at their beautiful dining room table by candle-light, put on some soft background music, and feasted on a pound of shrimp, a jar of caviar, and a bottle of spring water.
When she had finished, she went into each and every room and deposited a few half-eaten shrimp shells dipped in caviar into the hollow of the curtain rods.
She then cleaned up the kitchen and left. When the husband returned with his new girlfriend, all was bliss for the first few days. Then slowly, the house began to smell.
They tried everything; cleaning, mopping and airing the place out.
Vents were checked for dead rodents and carpets were steam cleaned.
Air fresheners were hung everywhere. Exterminators were brought in to set off gas canisters, during which they had to move out for a few days and in the end they even paid to replace the expensive wool carpeting. Nothing worked.
People stopped coming over to visit. Repairmen refused to work in the house. The maid quit.
Finally, they could not take the stench any longer and decided to move. A month later, even though they had cut their price in half, they still could not find a buyer for their stinky house. Word got out to the local Realtors and eventually even the local Realtors refused to take their calls.
Finally, they had to borrow a huge sum of money from the bank to purchase a new place.
The ex-wife called the man and asked how things were going. He told her the saga of the rotting house. She listened politely and said that she missed her old home terribly and would be willing to reduce her divorce settlement in exchange for getting the house back.
Knowing his ex-wife had no idea how bad the smell was, he agreed on a price that was about 1/10th of what the house had been worth, but only if she were to sign the papers that very day. She agreed and within the hour his lawyers delivered the paperwork.
A week later the man and his girlfriend stood smiling as they watched the moving company pack everything to take to their new home......... And to spite the ex-wife, they even took the the curtain rods!!!!!!
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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| Mortgage Forgiveness Debt Relief Act of 2007
Posted on: 2008-02-19
When a borrower is unable to meet the monthly mortgage payments on their home, the borrower will lose title to their home through:
1. A Short Sale
2. Foreclosure, or
3. Deed in Lieu of Foreclosure
But, did you know that under Section 108(a) of the Internal Revenue Code of 1986, a mortgage lender who forgave debt was required to provide a 1099 Form to the IRS stating the amount the borrower had been forgiven? The amount of debt forgiveness on a home is then taxed as ordinary income, for any of the previously three mentioned methods.
For example, you owe $250,000 on a mortgage and the lender reduced the amount owed to $200,000 to facilitate a short sale. Under current tax law, the $50,000 in forgiven mortgage debt becomes taxable income.
Unfortunately, the majority of people in a situation where that can't make the mortgage payments are in financial distress (DUH!) and are unable to pay the additional taxes.
Relief is in Sight!
On December 20, 2007, President Bush signed H.R. 3648, known as the Mortgage Forgiveness Debt Relief Act of 2007. It amends Section 108(a) of the Internal Revenue Code of 1986 to ensure that any amount forgiven on mortgage debt secured by a principal residence will not be taxed. It was effective as of December 20, 2007 and applies to indebtedness discharged on a principal residence before January 1, 2010.
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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| Common Credit Repair Scams & How to Avoid Them
Posted on: 2008-02-16
There are many legitimate organizations that help consumers fix their credit, but others are just waiting to take advantage of those needing help.
In today’s world of easy credit, bad credit and heavy debts are not uncommon. For many people, debt and credit problems become unmanageable. If you are looking for help, beware of several common credit-fix scams. First, understand that if there are errors on your credit report, such as debts that aren’t yours, you can fix these errors yourself for free. But, if your report is correct and simply contains information that you wish wasn’t yours, there isn’t much you can do. Creditors can keep debts on your credit report for seven years, and there is no magic trick that will make them go away.
Keeping that in mind, watch out for the following, as presented by Bankrate.com:
1. We speak the credit bureaus’ language or know some secret regulation that can make unappealing items on your credit report vanish.
Remember that there is no such thing as a secret formula that corrects unappealing citations on your report to make them go away. Some companies offering these services will just take your money and disappear. Others will bombard credit bureaus with frivolous disputes, and while these items are under investigation, they may temporarily be omitted from your report, after which they will return. The company, however, will show you your miraculously “clean” report and collect its fee. Also, keep in mind that the Credit Repair Organizations Act forbids any company from accepting money until after it does what it has promised, says Susan Grant, director of the National Fraud Information Center. Remember that scams will usually ask for money upfront.
2. We’ll convince the creditor that you don’t really owe the debt.
This works similarly to the first scam. Companies will concoct a scheme for you to challenge the debt or will claim that they will issue a deluge of procedural requests that will persuade the creditor to drop the claim.“Federal agencies have described these schemes as bogus,” says Deanne Loonin, staff attorney with the National Consumer Law Center. If you believe that you may actually have a defense with regard to a debt, you should consult a lawyer.
3. We will get you a brand-new, clean credit file. Remember that this is always illegal.
Companies may try to persuade you to apply for a new taxpayer identification number or employer identification number for the purposes of building a new credit history. This is a felony. Be especially vigilant of this one, because you may not realize what you are being asked to do because part of the con is not to explain the entire scheme. Besides being illegal, the “new” credit report would still list your name and address, which would still be connected to your old debts.
4. Call our 900 number for details on our credit-fix strategies.
This can be combined with any scam, and more than likely, the con artists will try to keep you on the phone as long as possible, extending huge per-minute charges.
5. We’ll clean your credit fast and use our contacts to get you a credit card, mortgage or loan.
This is a newer scam, and one of the most costly. Consumers who really need money or loans are especially susceptible to this, and can be persuaded to pay huge amounts to the scam. Some companies mimic credit-counseling agencies or mortgage companies, and will hit you up again and again, until you have nothing left. Since there are legitimate non-profit groups that help educate consumers with regard to their credit, it is best to keep a tight hold on your wallet and be wary of any quick-fixes or big promises. A little reference-checking on the Internet should quickly reveal the legitimacy of any companies.
Generally, be wary of companies that initiate contact, outrageous promises or huge fees. You should also be careful of two common mistakes that are not scams, but are costly. Refinancing your home to pay off credit cards is a bad idea since your home is now on the line. Also, since you are entitled to free copies of each of your credit reports annually, be careful of companies that ask you to pay for them.
Andorra Credit Repair Corporation is one reputable agency that you can contact with additional questions.
Your annual free credit report can be obtained at AnnualCreditReport.com. This site is sponsored by the three major credit reporting agencies, TransUnion, Experian and Equifax. You set up a log in and password, and it tracks the date and will remind you to pull your report again on the anniversary the following year.
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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| How to Be Smart Investing in Real Estate
Posted on: 2008-02-13
Your Primary Home is First.
Buying your own home gives you a place to live and teaches you the cost of home ownership, financing and market conditions. You receive tax benefits and an asset that you can sell, many times for a profit. You will also learn about property maintenance and build your own network of professionals who can prove to be invaluable when investing. Finally, your first home could later turn into your first investment property! When you decide to upgrade or get a bigger house, you might be able to keep your first home as a rental property. Consult your real estate advisor to find out if your house would make a good rental property.
Knowledge is Key.
Being a savvy investor takes more than just buying up properties. Having a good knowledge base goes a lot further than a “sixth sense” for good deals. Use the Internet, read books by reliable authors, and attend investment groups and college courses. These are all good resources to learning the best investment practices. You should also tap into other successful real estate investors and real estate agents for information.
Professional Help Is Essential.
Although you may not think you need help, a trustworthy and honest professional may be the partner you need. When it comes to spending tens or hundreds of thousands of dollars, I'm sure you want to invest it wisely. You go to a dentist for your teeth, a CPA to prepare your taxes, a doctor when you feel sick....so why would you think a realtor is any less necessary as an important professional to include on your family team? Real estate is usually what people spend the most money on in their lives and yet they'll take short cuts and risk losing thousands of dollars trying to be an expert on their own. Realtors manage real estate transactions every day, whereas you may only handle one every few years.
Management companies take the pain out of property management. For instance, managing a rental property takes a lot of time, and you will need to be prepared to make repairs, resolve issues and advertise for renters if you are taking on the task yourself. In the long run, a management company may be just what you need. Use the referrals of friends, family and associates to find reliable, honest professionals to help you.
Know the Market.
Before you invest, research the local market thoroughly. There is no universal real estate “bubble.” Each market is different, and has different fluctuations and trends. One market may be good for rental income but not appreciation, while another market may be excellent for appreciation but not for rental income. There are endless variables, and it is important for you to know exactly what you’re getting into. Remember that one area is never the same as another area. Even within your local market, different neighborhoods may have their own fluctuations and pros and cons. Turn to your realtor for advice about your intention and what neighborhoods and areas will best reach your goal.
With these basic tips under your belt, you are ready to venture out into the investment arena. Happy investing!
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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How to Get Your Asking Price in a Buyer’s Market
Posted on: 2008-02-11
In a buyers’ market it can often be tricky to get even close to your asking price. There are, however, a few things you can do to help get a little closer, or even actually get your asking price. A recent Realty Times article discussed some of the following tips that most people can implement to help get the asking price… and sell the house as soon as possible. There are generally three categories that they fall in:
ONE
Finish the unfinished rooms or convert any convertible rooms, such as the basement or a recreational room. Not only does this give an increased amount of usable space, but it can also be used as a selling point since these are expenses that the buyer doesn’t have to incur. Not to mention, there seems to be an increased desire for move-in ready homes where the buyer does not have to do a thing to the house.
In houses over $500,000, offer a free media room. With deals, you can probably have one installed for around $5,000. Media rooms are something many house shoppers see as a neat luxury, and could be the difference between someone going for your house or someone else’s. Just over a year ago, Architectural Digest united with Sotheby’s International Realty Affiliates, Inc. in a consumer-trend study to find that 32% of people seeking a secondary home wanted a media room/home theater.
TWO
You can make the mortgage on your house more desirable by buying down the interest rate. This is something fairly easy to offer someone, and a lower payment certainly makes your home more desirable!
Rather than offering a cash-specific incentive, you can offer something else like a vacation. Again, this makes your offer stand out from other offers.
Offer seller financing. This is actually not that difficult to do if you can make the deal work, and can actually end up earning you some money. Talk to your realtor about the possibilities.
THREE
Offer to pay their HOA fees for a year. This is a practical buyer benefit. If someone is carefully looking at their budget, not having to include these fees in their monthly expenses can be a big deal.
Offer to pay off some of their debt. If this is done as part of the loan program, then it could lead to the buyer qualifying for a larger loan, or a better interest rate. If just a side agreement, then again, it could mean lower monthly payments, which can be extremely important to the buyer.
Finally, you can always offer to pay the closing costs. These tend to be something that is a big hit to buyers’ pocketbooks, and something people don’t adequately budget for when shopping for a new house.
Unfortunately, other than the few aesthetically appealing things you can do to spruce up the house, real incentives tend not to be cheap. They can mean the difference from having to drop your asking price by quite a few thousand… or actually getting what you want! The key to choosing which incentive to go for is to think about what incentive works best for you AND what is a true attraction for the demographic of buyers looking to buy your house and in the community you’re in.
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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Arizona Named Best Golf Destination
Posted on: 2008-01-30
Arizona has been honored as the best golf destination in all of North America! The International Association of Golf Tour Operators honored Arizona as the Golf Destination of the Year in the North America category.
“The global trade organization for the golf tourism industry comprises more than 1,000 companies in 73 countries, including more than 320 golf tour operators in 45 countries. Arizona averages more than 330 sunny days each year, and the state has more than 300 golf courses, according to the group.”
Let’s face it . . .we are the place to be! We have excellent weather at least 7 mths out of the year (shhhhh), no natural disasters to worry about, no snow to shovel….so it’s really not that bad. We have so many economic indicators that are in our favor for the local housing market to be “aweswome” by 2009. Now, if only we all jumped on that mental bandwagon instead of staying in the doomsday mindset.
Clearly, folks, things could be a heck of a lot worse for us. Turn to one of the good cities in the US of A, New Orleans, and count your blessings and quit complaining. The more you stay in analysis paralysis waiting for some imaginary floor to drop -the more stagnant our market will stay. It’s like trying to time the stock market just right - it’s totally unrealistic.
For those of you who keep waiting, you just might miss the perfect home for your family. This is a great time to invest in a home!
Website: www.YourCommunityResource.com
Email: Kelli@YourCommunityResource.com
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Buy a House Now or Wait?
Posted on: 2008-01-29
There are a number of good reasons why buying a home makes good economical sense regardless of the housing market.
1. Homeowners build equity in their homes that can be used as collateral for a home equity loan, or as part of a retirement plan when you finally downgrade into a smaller home.
2. Built up home equity can also be used for putting money down toward your next home.
3. Prolonged home ownerships brings with it equity growth in the form of debt reduction and general inflation.
4. Even if the market starts declining, history tells us that this will only be short-lived, and the market will start increasing again.
5. By using your income to pay off your mortgage, your income is in effect working for you. The opposite is true with renting.
6. One of the biggest benefits to having a mortgage is that, in most cases, the interest portion of your mortgage payment is tax deductible, which can save you a lot of money every year.
Making the decision to invest in such a way is never going to be easy, but by looking sensibly at the market, and by really considering whether the advantages above apply to your specific situation, you are able to make a more informed decision!
Website: www.PhoenixHomesForLife.com
Email: Kelli@YourCommunityResource.com
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Lively Decorating Ideas are In for 2008
Posted on: 2008-01-28
Breathe New Life Into Your Home!
A new year brings plenty of opportunities for new beginnings, so why not give your home one? Whether you are about to put your house on the market or are just a bit bored with your surroundings, some simple changes can make a world of difference.
Slap on Some Paint
Try something different and stay away from boring beige or wimpy white. Or, at the very least, use the more muted colors with vibrant accent colors on one or two walls. “We’ve gone through an era of everything being very muted and quiet and what we see with the younger generation coming up is that we’re really going to use lots of colors,” says Dixie Lovejoy, owner of Arizona’s Apple Interior Systems, Inc. “Colors on the walls, color on the furniture, such as lime greens, browns, oranges and bright reds.”
A fresh coat of paint will give your home an instant lift since it makes guests (or buyers) feel that your home is clean and well-kept. “Paint is a very inexpensive way to do something new and not have your house seem dated as time goes on,” Lovejoy explains.
Go Big or Go Home
When purchasing accessories, buy bigger and buy less. “People used to buy accessories on a very small scale,” says Lovejoy. “In our office, one of our slogans is: bigger is better.” She means that things like pots, vases, flower arrangements and fountains should all be larger. Replace a lot of knickknacks with one big focal piece. You will make a statement with your decorating rather than making your home look cluttered.
Pillow Talk
Accent pillows are a key home décor item that no home should be without. Pillows can tie together your home’s look, harmonizing colors from the painting above your fireplace with the antique wingback chair. “Accent pillows are kind of a key to all design that ties everything together,” Lovejoy says.
Sliding Away
Sliding glass doors and even French doors are disappearing in newer homes, says Lovejoy. Their replacements are doors that virtually vanish and allow greater access to the outdoors. Installing these doors can replace the eyesore that some sliding glass doors can be. “They actually can slide all the way into a pocket that’s built into the wall or stack on top of each other so it becomes one small window on the left or right side, but the rest of your house is all open,” explains Lovejoy.
Homeowners want more than the typical three-foot opening that French doors or sliding glass doors give. “The newest trend is opening up a 12 to 22 or 30 feet of glass,” says Lovejoy. “It gives you almost the lanai effect like you have in Hawaii where the inside and the outside all become one.” This look is ideal for homeowners who entertain a lot or host big events. These doors allow you to essentially merge the inside and the outside of your home.
The Outdoors Becomes the Indoors
Connected with this trend is the growing trend to decorate the outdoors like the indoors. Patios and decks with fireplaces, couches, chairs and even drapes and pictures are not uncommon and can blur the line between the inside and outside of your home. Today’s designers are incorporating big patterns into velvets and sheer materials on outdoor furniture that still holds up to the elements. These materials allow you to hose off your outdoor couch or chairs or vacuum them to remove dirt or stains.
With Flooring, Hard Is In
Carpeting is on the decline, says Lovejoy. Traditionally, homes have had carpeting in bedrooms and tile or wood in other areas. This is changing to homes that have hard flooring in all parts of the home to create a flow between the different areas of the home, as well as between the inside and outside. “That way, when you open up your house for entertaining, the patio or the lanai on the outside, or your sunroom, has the same surface as the house so you get that huge expanded feeling,” says Lovejoy.
Going hand in hand with this trend is the prominence of rugs. Of course homeowners want some soft areas in their homes, like near couches or beds.
Website: www.KelliGrantSellsRealEstate.com
Email: Kelli@YourCommunityResource.com
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Your Neighborhood Web site is in the process of becoming your most valuable resource
Posted on: 2007-08-04
Thank you for visiting this neighborhood web site designed specifically for the residents of your neighborhood.
It's nearing St. Patty's Day, and my team is working hard to have this as fulfilled as possible before April. Some of the things we're working on are:
** Communicating with your children's schools encouraging them to use this web site to post photos, messages, and events on the calendar.
** Contacting your individual HOA property manager to let them know that they should use the HOA page to communicate effectively with you, the home owner's. There is already a password protected system set up giving them secure access to post board meetings on the calendar, photos and much more.
** Working with local merchants and businesses to provide you with reliable resources, services and coupons.
** Organizing contests for you to win great prizes from participating local businesses.
** Organizing fun neighborhood parties so that you can get to know who your neighbors are and get to know local merchants that provide valuable services & goods to your families.
These are just a few of the things, as I could go on and on! I am very excited to provide you, my neighbors and clients, with this powerful resource. If you have any ideas or comments, please let me know!
Be sure to register for the monthly newsletter. You won't want to miss out on anything!
Sincerely,
Kelli Grant
Your Scottsdale Resource & Neighborhood Real Estate Specliast
Website: www.ScottsdaleHomesForLife.com
Email: Kelli@ScottsdaleHomesForLife.com
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