Buying & Selling Homes Simultaneously

Buying & SellingBuying & Selling Homes Simultaneously

Buying and selling homes simultaneously can seem quite daunting and raise many questions, especially regarding timing. When should you list the home you’re selling? At what point should you begin looking for a new home? What happens if you get an offer on the home you’re selling before closing on your new place?

The key to combining your buying and selling processes is timing. Taking the time up front to consider your options and make educated timing decisions will increase the chances that you’ll get to seamlessly move from the old home into the new space. So, how do you make those smart timing decisions?

Find an expert. A good real estate agent is a knowledgeable and reliable expert on buying and selling homes simultaneously.. The agent researches and understands current trends which will help you time your transition to the new house while also getting the most money from the house you’re selling.

Know the Market. A real estate agent is also a great resource to educated you on your local market. The agent uses current market data, the condition of your home, neighborhood comparable homes and other factors to determine a realistic selling price for your listing.

Understand your Finances. As you look at your options, know where you stand financially, how much equity you have in your current home, and how much money you can reasonably use toward the down payment of a new house. Homeowners who have enough equity to sell their existing home and can come up with a down payment for another one are going to have an easier time buying and selling at the same time.  Before the real estate shift in 2008, homeowners often leveraged the equity in their home to open a home equity line of credit (HELOC). They would borrow 95 to 100 percent of the home’s value and then use that money toward the down payment of the new home. This made it really easy to close on a new home and sell the current home quickly. Today however, depreciated home values and strict lending options have made it difficult to open a HELOC. Know that there are many options for those homeowners in all financial categories. Understanding your finances will help when you discuss this process with your agent.

Make Quick Fixes. Price and home condition are the two most important factors that effect the sale of your home. As explored specifically in previous posts, investing money up front to update the yard, repaint the walls or make other small fixes has been proven to significantly increase the likelihood that your home will sell more quickly.

Start Shopping for the new home. If you and your agent agree that listing your home is a good decision for you, it’s time to begin your home search process. If possible, start looking at homes before you put yours on the market so that you have an idea to the timeframe it could take to find the new place based on your search criteria.

When you’re ready, list the home. Putting the home on the market is a careful process that depends largely on how fast you think you will be able to find and close on your new home. The previous step, shopping for the new home, will help make that decision. Keep in mind, if you put the home on the market and the right buyer puts in an offer more quickly than you anticipated, there are contingencies you can add to the contract to give you more time to find your new home.

Buying and selling homes simultaneously has its challenges, but with the help of a solid agent, homeowners make it happen everyday. Elise Fay & Associates would be happy to walk you through some of the buying and selling scenarios or help begin your home search process. Give us a call!

Staging & Selling Before the Holidays

Staging & Selling Before the Holidays

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Staging & selling your home before the holidays can help save stress and give you time to focus on family and holiday festivities. Getting your home sold before year end is ideal so you can start the new year fresh. There are a few tips to help the process started and assist in running smoothly and effectively.

Take advantage of the tax write-offs. Often, part of staging a home includes purging. If you have a large amount of items you’re having trouble parting with, consider the tax credits for donating. Add up the value of the items you might be willing to donate and look at the tax savings using a Goodwill or Salvation Army calculator. This might be the perfect motivation to help let go of the items you don’t really need.

If you’re relocating or downsizing and won’t be able to take all your items, consider using home listing photos with a list of contents you’re looking to get rid of on Craigslist or other goods selling site as an alternative to donation. Selling before the Holidays is an effective idea especially, because people might be in the market for some gently used or vintage gifts.

Use Online Coupons. By now, we’ve all heard of sites like Groupon, Deal Chicken, Living Social, Amazon Local, etc. These sites offer local goods and services a a discounted price. The cost and effort of staging can be a hurdle for sellers. Search these sites for offers for cleaning services, painting, etc. Affordable ways to get these jobs done may get your home ready to show more quickly and with a lot less effort on your part. Especially during the holiday season, the last thing you want to be doing is a lot of work on the house. Let the professionals help make the staging a success at a discounted price.

Shop Ahead. If you’re selling to move into another property, you likely have either already found that property or at least have a solid idea of housing and new furnishings to make the place your own. If you have the budget, shop ahead for the furnishings. Things like furniture, non permanent lighting, decor, etc. for your new place might help stage the space you’re selling in the mean time.

No matter your situation, staging & selling before the holidays is a great idea and, with a little help from Elise Fay & Associates, you can get a smooth process started right away. Just give us a call!

To Pool or Not to Pool?

Photo courtesy of www.shimmeringwaterspoolservices.com

Photo courtesy of www.shimmeringwaterspoolservices.com

To Pool or Not to Pool?

Are you one the many families in the Valley who can’t decide whether or not to install a swimming pool in the backyard? Before you take the plunge, here are some things to consider.

Most importantly, think about why you want a pool. Adding a pool is an expensive endeavor and, realistically, just because you spend $40k on a pool does not mean that it will add the same amount to the value of your home. It could even add nothing to the value, depending on current market and neighborhood standards.

The only real reason to add a swimming pool to your home is because you want a pool. The investment lies in the fun, enjoyment and recreation for your family, enhanced appearance of the yard and the cool escape from hot summer temperatures. If you’re only looking to add a pool to your home with the expectation that you will recoup the cost upon sale, it’s really not worth the investment.

The fact is, there is no definitive answer as to whether a pool will or will not help sell your home. Many Phoenix area buyers want a pool. Some people fall in love with homes, but don’t buy because there isn’t a pool and they don’t want to go through the installation process physically or financially. Although already having a pool appeals to some buyers, there are also many buyers who won’t look at homes that have a pool at all.

My personal opinion, as a buyer, is that if the home is perfect except it doesn’t have a pool and I want one, I’d have one installed. Were I a buyer looking for a home and did not want a pool, I would not consider looking at homes with one. This is simply because having a pool filled and landscaping the yard seems like unnecessary work, whereas adding a pool would be a value to my family’s enjoyment and recreation.

Only you can consider whether the investment is right for your family and answer the ultimate Phoenix homeowner question: to pool or not to pool?

For more information on adding a pool or other upgrades to your home and their potential values, contact Elise Fay or the Fay Team.

Legend Springs School Fun Run Fundraiser

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Legend Springs School is holding a Fun Run this October

The Boosterthon Fun Run, Rock’n Town Live, a musical festival theme all about community, will kick off on Tuesday, October 14. The event promotes health, character-building and fun for the students and provides a great way for the community to get involved in giving back. Students will gather pledges for the number of laps they’ll complete at the Fun Run on Thursday, October 23.

Elise Fay is a proud sponsor of Legend Springs school and the Fun Run Fundraiser.

Legend Springs School is located at 21150 N. Arrowhead Loop; Glendale, AZ 85308 in the Deer Valley Unified School District

Arizona Restaurant Week Fall 2014

restaurant weekArizona Restaurant Week Fall 2014 is September 19-28. This affair offers foodies a plethora of dinning opportunities they might not typically choose and the chance to get outside their own neighborhood to try something different. Options are endless, ranging from spicy Southwestern to fine-dining options to soothing comfort food. Restaurants offer special pre-fixe menus and pricing during restaurant week, so it’s the perfect time to try new fare. Prepare your taste buds for some of the best food in the Valley!

Here, I outline some of my favorite restaurants participating in Restaurant Week Fall 2014. Be sure to check out the Arizona Restaurant Week website for all 139 greater phoenix restaurants. More restaurants are being added daily. Click on any of the restaurant names below to visit their website.

My favorites in the Valley:

The Mission: Latin Cuisine; Don’t miss the Primarita margarita or the espresso churros; Hands down my favorite restaurant in Greater Phoenix

Beckett’s Table: American Comfort Food; Don’t miss the hand-crafted cocktails or the grits

The Gladly: Contemporary American; Don’t miss the chimichurri chicken or the whiskey list, I’m a whiskey snob & the list here is phenomenal

Other Arizona Restaurant Week participants you don’t want to miss; these are some of my staples for date nights:

Barrio Queen; Mexican; Don’t miss the signature guacamole, it’s seriously amazing!

Bink’s; Contemporary American; Don’t miss the hand-crafted cocktails or the Polenta Cake

Bluehound Kitchen & Cocktails; American Comfort Food; Don’t miss the prohibition era cocktails or the tater tots appetizer

Capital Grille; Steaks & Seafood; Don’t miss the bone-in Kona crusted steak, my favorite entree at this go-to special occasion gem

Central Bistro; Modern Italian & French; Don’t miss the warm goat cheese or grilled artichoke appetizer

Chelsea’s Kitchen; Modern American; Don’t miss the tuna tartare & guacamole or posole appetizer

Citizen Public House; Contemporary American; Don’t miss the bacon fat heirloom popcorn…it’s sinfully divine

Nook Kitchen; American; Don’t miss the Arancini appetizer, any of the pizzas and the strawberry basil shortcake

The Henry; Contemporary American; Don’t miss the Chai Lime Ginger Beer (it’s non-alcoholic) or the short rib potsticker appetizer, it’s seriously mouth-watering; My favorite newer Valley restaurant

T. Cook’s; Contemporary Mediterranean; At this AAA four diamond & #1 rated restaurant in Phoenix by Zagat, anything you order will not disappoint; My favorite fine-dining restaurant in the Valley

The Arrogant Butcher; Gastro Pub; Don’t miss the Short Rib Stew, one of my favorite entrees in the Valley

The House Brasserie; Contemporary American; Don’t miss the House Brisket & Biscuit or the Jidori Chicken

If you’re looking to dine out near home, there are a few Arrowhead Ranch area restaurants participating in Arizona Restaurant Week Fall 2014. The consistently enjoyable fare at these places close to home make them a great choice for dinner if you have to get home to a babysitter and don’t want to waste date time driving.

Betty’s Nosh, 67th Ave. & Loop 101, specializes in stuffed mushrooms & seafood; Firebird’s Wood Fired Grill, 83rd Ave. south of Bell Rd., specializes in steaks & seafood; The Melting Pot, locations throughout the Valley, specializes in fondue meals, great for a group.

Bon Appetit!

Easy Luxury Fixes Buyers Love

Solar Panels

Easy Luxury Fixes Buyers Love

There are several easy luxury fixes buyers love. No matter how tight their budget, buyers will have a wish list of features that feel luxurious.

Here, we focus on energy efficiency, outlining the first installment of our ideas for luxuries buyers look for and how to accomplish them effectively. Look for more on the blog in weeks to come. Or, if you can’t wait, contact the Fay Team to quickly achieve list ready status.

Automation:  People love when they can cross remembering something off their list. Or, in today’s technology obsessed world, remove one of the many reminders Siri is managing for them.

In Phoenix, the summer months can hit the pocketbook hard with electric costs. Installing an easily programmable thermostat is a great little luxury fix buyers will love. The Nest Learning Thermostat is a great option. It features auto-schedule, which means it programs itself in about a week, creating a personalized schedule based on changes you’ve made and continually adapting. It also has an auto-away feature, which senses when you’ve left the house and automatically adjusts the temperature to avoid high energy costs. Most convenient of all, you can change the temperature and adjust the schedule from anywhere using a smartphone, tablet or laptop. Cost is right around $200 upfront, more or less depending on home size and number of devices.

Solar:  8 out of 10 homeowners have said they would install a solar system at home if cost wasn’t a factor. In Phoenix, where it’s sunny nearly every day of the year and one of the hottest places in the country in the summer, a solar system is definitely a viable luxury for any home buyer.  Installing a solar system can create a double luxury of allowing homeowners to run their home on a renewable energy source and also to reduce monthly energy costs.

In some areas, costs can be quite low for solar panels. Some companies may pay for the system, install for a low cost and pay for maintenance while the customer only pays for the power used each month. While these deals are not available everywhere, it’s definitely something worth looking into for the energy savings.

Considering one of these energy updates for your home is a little luxury fix that will go a long way. Whether the update is for your own enjoyment or you’re looking for an easy luxury fix buyers will love, energy efficiency is a win-win for the environment and for your listing.

Look for more easy luxury fixes buyers will love next week. Or, contact Elise Fay or the Fay Team for more ideas on how to make your listing luxurious.

 

 

 

Top Arrowhead Ranch REALTOR®

Arrowhead Ranch Realtor

Arrowhead Ranch

Top Arrowhead Ranch Realtor

In order to be a top Arrowhead Ranch REALTOR®, I am client centric. I do more direct marketing for my clients than other real estate agents. I listen to my clients, give guidance on ways to maximize the value of their home, and act with their best interests in mind. This ensures a smooth experience from listing to closing.
The difference between me and other Arrowhead Ranch realtors is that I am energetic, eager and driven. I’ve been in the Arrowhead Ranch market for over ten years and I am an ambitious marketer online and offline. The Fay Team markets homes directly to the consumer, so we drive more people through our listings than the competition. Many other agents rely solely on the MLS to sell homes.

The majority of our competition is tired, intermittent or part-time. We’re different. We’re progressive, We’re aggressive. It’s the only way we know how to be a top Arrowhead Ranch REALTOR®. Call Elise Fay & The Fay Team to start the progressive home listing process today.