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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

FamRmAfter1

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.

Easy Luxury Fixes Buyers Love

Easy Update
Easy Luxury Fixes Buyers Love

There are several 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 refining details, outlining the third installment of our ideas for luxuries buyers look for and how to accomplish them effectively. Contact the Fay Team to quickly achieve list ready status.

Adding, improving or tweaking details in your home can add great value without breaking the bank. A few easy and even DIY ideas include:

Updating baseboards or adding crown moulding

Adding interior or exterior shutters to windows

Painting moulding, baseboards, mantles and/or door trims a contrasting color

Replacing doors or light fixtures; a new light fixture can change the feel of a room completely

Replacing dated faucets, sinks, toilets, hardware, door handles

Exterior paint updates; eaves, doors, trims & fences

Built-ins: Adding built-ins for books, in closets, desks or even recycling centers in the kitchen  feels luxurious because it eliminates furniture and offers a polished look and efficient use of space.

Dedicated Spaces: Dedicating a space to an activity can make a big difference in the perception and feel of the area or room. Choosing the right color paint, appropriate furniture and places for supplies are key here. Think office or craft room for example; use bright colors in these spaces as research shows bright colors foster creativity.

If you’re looking for more easy luxury fixes buyers will love, contact Elise Fay or the Fay Team for more ideas on how to make your listing shine.

 

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.

Three Easy Fixes for a Great Home Showing

Stinky-HouseThree Easy Fixes for a Great Home Showing

How Vodka, a Laundry Basket & a Fabric Softener Sheet can help close your deal.

No, this isn’t an episode of MacGyver, simple things you already have at home can help eliminate some common reasons your home is still on the market.

There are three easy fixes for a great home showing sellers forget, but buyers notice, that are easy and inexpensive to tackle.

Smell Your Way to a Sale

One unseen factor that could be keeping your house on the market is odor. The variety of odors that could be present are endless, most commonly cigarette smoke, pet odor or a musky scent in a bachelor pad for example. Here are a few odor issue easy fixes for a great home showing:

  1. Orange you glad you drink coffee?

You can put orange peels and/or coffee grounds in a bowl for a little decorative piece or put them in the trash can or garbage disposal. Orange peels and coffee grounds are both odor neutralizers.

2. Happy Hour Mist

Vodka grabs and evaporates odors, so make a freshening mist to spray before a showing. Recipe: Two parts water, one part vodka (You can also use this to clean   glass…just spray on mirrors or windows and wipe clean with newspaper)

3. Good old fashioned vinegar

A bowl of vinegar in a room will soak the odor.  Put a bowl out the night before the showing and the odor will disappear overnight.

4. Fire away bad scents. Grab a match and a small bowl of water. Set the bowl on a surface in the room with the odor.  Let the mach burn 7-10 seconds then submerge in the water.

A Scummy Deal Breaker

Soap scum is generally found in the kitchen or bathrooms which are some of the most important spaces in a home and also are often used before or even during a showing. One quick way to lose the scum for a great home showing:

Grab a fabric softener sheet and a plastic glove and you’re in business.  Just wear the glove and use the dryer sheet to wipe away soap scum on tubs/showers/sinks, etc.

“Necessary Clutter”

Every home has clutter that’s necessary to the home’s functionality. Staging this clutter is easy and important. A few of my favorite ways to store those essentials that are easy fixes for a great home showing:

Use storage baskets, canvas bins, etc. to store things in any room: toys, magazines, crafting supplies, etc.

One of my favorite ways to de-clutter the garage or backyard is with laundry baskets.  All the kids’ outside toys, balls, etc. can be thrown in the baskets and if it rains, the water will not pool in the bottom of the basket.

These simple, quick and inexpensive fixes could remove an obstacle in the way of selling your beautiful home; why not try one and see (or smell) the difference! For more tips on how to prep for a killer home showing, contact Elise Fay and the Sibbach Team.

Businesses Love Glendale AZ

Glendale AZBusinesses LOVE Glendale AZ.

Doing Business in Glendale:  Yes once again Glendale will be host to the 2015 Superbowl.  The first one in Glendale in 2008 put the city on the map as it was recognized as one of the most successful Superbowls in history. As Glendale prepares for this Super Event, there are other projects which have been set in motion; again helping to make Glendale a destination city.

St. Joseph’s Westgate Medical Center broke ground in Jan 2013 on its new 35-acre Glendale medical campus. Glendale’s 3rd hospital they will be investing more than 44 million for the new 24 bed location in 2014.  This year Midwestern University will also debut its new veterinary school.

In other big news, Luke AFB will have more F-35As assigned to its base in Glendale, more than any other in the Air Force. They will have 6 squadrons totaling 144 jets when the base fully transitions to an F-35A training center.

Glendale Glitters award-winning festival has been recognized by CBSnews.com as one of the top five holiday light displays in the country. This free event which just completed its 20th year typically attracts tens of thousands of people each year. The award also recognized the neighborhood and business participation throughout the city. So who were the other cities on this list? San Diego, Portland Oregon, Arlington Texas, and Somerville Massachusetts.  Yeah for Glendale!

Luke Days is Back!

Luke DaysLuke Days is back on the calendar.

Luke Days 2014 – March 15th and 16th at Luke Air Force Base is an open house and air show. The US Air Force’s premier aerial demonstration team, the Thunderbirds, will be performing both days. A display of the F-35A Lightning II should also be available for viewing. Previous crowds at Luke Days typically average more than 100,00 spectators each day. There will be food, games and attractions for the whole family. Visit www.luke.af.mil for more information.

 

 

Sedona’s Cathedral Rock-“8th Wonder of the World”?

Sedona to have the “8th Wonder of the World”?Sedona Arizona

Yes it’s true…Cathedral Rock is in the running to become the “8th Wonder of the World”.
Inspired by the newly developed 8th Wonder of the World contest created by Virtual Tourist, The Sedona Chamber of Commerce asked our 30,000 Visit Sedona Facebook fans “What are the 7 Wonders of Sedona?” Below are the complied results in order of popularity:

  1. Cathedral Rock
  2. Boynton Canyon
  3. Bell Rock
  4. Slide Rock  State Park
  5. Devil’s  Bridge
  6. Palatki  Heritage Site
  7. West  Fork Trail

As you can see from the results above, our fans, visitors and locals alike choose Sedona’s Cathedral Rock as the #1 most iconic spot in Sedona, Arizona. We therefore nominated Cathedral Rock into the running to become the 8th Wonder of the World. It seems obvious that with vivid crimson spires and copper sandstone monoliths, Cathedral Rock was a perfect nomination choice.

Official voting is now open until September 30, 2013; and Cathedral Rock is listed as one of the 324 locations around the world. Although Sedona is small, sometimes considered to be a hidden gem, we know we can count on the support of locals and national/international visitors who have marveled at the beauty and majesty of Sedona’s Cathedral Rock. Ideal for a romantic hike, a family adventure, a photographer’s greatest ally or thrill seeking adrenaline junkies; Cathedral Rock has something to offer all ages and interests.

We hope we can count on your VOTE for Cathedral Rock as the 8th Wonder of the World. You can vote every day until September 30, 2013!

Reprinted courtesy of the Sedona Chamber of Commerce.