Market Value Versus Assessed Value

phoenix home for saleThere are different valuations of a home’s worth and you should understand the difference between market value and assessed value. It’s important to understand what your home is worth. Knowing your homes value gives you an idea of how much you could receive if you sold the property.  It also plays a part in determining how much property tax you’ll be required to pay.

Market Value is used to determine how much a buyer would be willing to pay for your home. An appraiser, usually hired by your lender, determines market value. This value is a vital tool in helping to decide what price to list a property for. Sellers often want to list based on what they feel a buyer would want to pay. However, it is better to list a property based on current market conditions. Market value is based on recent sales of similar homes in the area, along with other factors.

Assessed Value puts market value in the context of property taxes and is based on the laws of the state or county in which you live. Assessed value is calculated as a percentage of the market value of the property. Assessed value is determined by an assessor’s office. Some offices have databases open to the public for you to see the history of your property, as well as what information what factored into its assessment.

Do you have more questions about your home’s value? Feel free to call me with your questions!  I’m always willing to answer any of your questions so that you can feel comfortable with the home buying or selling process! 602-329-7762

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Why Your House May Not Be Selling

Sibbach Team For Sale signHas your home been on the market for a while now and it seems like no one is coming for it? If this is a situation you find yourself in, the first step is to identify what may be reason.  Many agents ask for feedback from prospective buyers to address anything that may be turning the buyers away from submitting offers.

I’ve been in real estate for over 20 years now and these are some of the common reasons why your house might be still on the market.

Listing Price

This is actually a no-brainer.  In order to sell your house, and in good time, you need to price it appropriately. Inflating the cost of a house will do the owner no good, it will only elongate the time the house will be in the market which makes it even more difficult to sell.  When pricing your house, your agent should make comparisons with similar houses in your neighborhood which were sold and consider the upgrades in your home.  Of course, demand and market conditions also influence the listing price.

Poor Marketing Images

Today, most prospective home buyers begin their search on the internet and make their selections based   on their search criteria and the photos of the houses listed.  Bad or insufficient photographs are a good way of driving away prospective buyers. A good first impression of your house starts on the internet: professional photography of a clean home is where it starts.

You haven’t advertised the house well enough

Similar to the previous reason, inadequate advertising or marketing for your house limits the number of people who can make an offer. These days, it isn’t enough for and agent to market the property locally. Your home should be advertised offline and online via social media and other real estate websites such as and  You want to reach out to home buyers and buyer agents equally.

The house is not in good shape

The condition of your house is a good pointer to how quickly it is going to sell, or not.  A prospective buyer given the choice between a house with working appliances, good furniture and decorations, and another house with outdated features and old appliances will surely go for the former. The reason is not far-fetched as you wouldn’t want to spend so much on renovations and repairs after equally spending so much on purchasing the house.  Buyer love move in ready homes.

You have the wrong agent

Unfortunately, the agent might be the reason your home is not selling.  It is not uncommon for homeowners to enlist their friends or a member of their family as their agents.  This isn’t bad per se, but failing to do your due diligence by carrying out a proper interview means that you are just banking on luck and not expertise. Take your time to interview your agent.  Here are three questions to ask your realtor:

  • How much do you charge?
  • How long will it take my house to sell?
  • How do you market your properties?
  • When is the best time to sell?
  • How many homes have you sold in my neighborhood?
  • Why should I choose you?

I am joined Sibbach Team with Realty ONE Group- the Top 1% in Sales in Maricopa County!  I offer innovative and effective marketing strategies to sell homes for top dollar. The key to success in this market is to stay educated and keep on top of the market trends. With my team of professionals we can help you to make an informed decision…whether buying or selling,  Contact me, I am here to help you!

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Mortgage 101

Home PricesBefore settling on a particular type of mortgage, it is important that you do your due diligence by getting to know the different types of mortgage and their individual advantages. Your lender will typically evaluate your particular needs and financial situation and advise you on what type of mortage is best suited for you.

What is a mortgage?

A mortgage is simply the conveyance or transfer of an interest in a particular fixed property with the intent of using the property as a security for the repayment of a loan. That being said, there are six types of mortgages as will be briefly discussed here.

1. Simple Mortgage

This type of mortgage involves the express or implied binding of the mortgagor/mortgager to the repayment of a loan. This means that the mortgagor has transferred the right of sale of his property to the mortgagee in the event of failing to repay. Although the mortgagee has the right to sell the property, he cannot until after getting a court decree permitting him to do so.

2. Mortgage by Conditional Sale

This type of mortgage refers to a situation where the mortgagor apparently sells the property based on certain conditions. The conditions for sale of the mortgaged property are:

 That on such a payment being made, then the sale cannot be valid, or

 That on default of the payment on the agreed date, the sale becomes absolute, or

 That on such payment being made the person who buys the property shall transfer the property to the seller.

3. English Mortgage

There are three major features of this type of mortgage, which are:

 The mortgagor makes a personal promise to repay the loan on a specific date.

 There is an absolute transference of the mortgaged property to the mortgagee. This also gives the mortgagee the right to sell the property without a court decree.

 The mortgaged property can only be re-transferred when the mortgagor has completely repaid the money on the agreed date.

4. Mortgage based on usufruct

Also called usufructuary mortgage, this type of mortgage is based on usufruct, which is a legal right that allows a person to receive profits from a property owned by someone else. Usufructuary mortgage compels the mortgager to deliver the property as well as giving the mortgage the following rights:

 The right to hold on to the property until repayment is done.

 The right to get part, or the total rent profit from the property.

 The right to receive the rent profits in the place of the interest or the loan or the both.

 The right to incur any liabilities during the course of ownership

5. Mortgage by deposit of title deeds

Sometimes referred to as “equitable mortgage,” this type of mortgage is common with banks as it does not require any registration. It simply involves the transfer of property title deeds by the mortgagor to the mortgagee as a form of security for a loan.

6. Anomalous mortgage

This refers to any mortgage which does not conform to the definition of any of the other types of mortgage. Example of anomalous mortgage is the kind which results from the combination of two or more types of the other mortgage types.

If you are looking to buy a home, I can recommended an experienced trusted lender who will work diligently to help you find a mortgage that meets your needs.

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5 Golf Courses In The Arizona West Valley Worth Visiting

Put These Courses On Your List To Play!

The 500 Club Golf Course

Gorgeous 18-hole championship golf course nestled in the quiet foothills of northwest Phoenix. Designed by Brian Whitcomb, this par 72 layout offer subtle features that will challenge and excite golfers at every ability. The course plays 6867 yards from the championship tees, with a slope of 122 and a rating of 72.2. The 500 Club is truly unique in that it is one of the only public daily fee courses with the magical desert landscape and views of the valley mountains.

Legend at Arrowhead

Designed by Arnold palmer, Award Winning Legend Golf Resort at Arrowhead Golf Club sits on a remote mountain slope 26 miles northwest of Sky Harbor Airport. This beautifully laid out course features 7 lakes and 156 bunkers all surrounded by beautiful valley mountains.The Legend plays 7,005 yards and a par-72 from the championship tees.

Glen Lakes Municipal Golf Course

Originally built in 1966 and designed by Jay Hillhouse, Glen Lakes is located just 5 miles from the Gila River Arena and University of Phoenix Stadium. This course offers a par 33 course featuring 6 par 4s and 3 par 3s. This course can be challenging with 40 foot eucalyptus trees and many bunkers. The 9th hole presents water off the tee and on the approach.

Bellair Golf Club

Known as the best executive golf course by locals, this par-59 layout course features challenges that attract experiences golfers but a shorter more approachable length for beginners and juniors. Bellair features 5 par 4s and 13 par 3s measuring up to 185 to 210 yards in length. This course opened in 1973 and was originally designed by Lawrence, Hardin & Nash.

Grand Canyon University Golf Course

Formerly the Maryvale Golf Course, GCU Golf Course was designed by Ted Robinson Sr. The par-71 golf course measures 7,269 yards from the championship tees. Features include new tee boxes, challenging greens, extended fairways, practice facilities and a 10,000 sqft. clubhouse including a restaurant and bar, second-story practice facility and fully equipped pro shop. A traditional walking golf course accented with beautiful greens, preserved full-grown trees planted in the early 1960s and distinct, memorable holes.

Why You Should Use an Agent vs. For Sale by Owner

Advice for Investment Properties Buyers

If you’re considering getting started as an investor in the Phoenix metro area or looking to expand your current investments, you may be wondering what advice you should keep in mind as you head into a new year. Phoenix is a great place to take up real estate investment, and the area is always looking for investors to buy up properties whenever possible. In order to have the best possible experience doing this, it’s important to understand your role as an investor and to understand a little bit about the housing market in the area, too.  In no time, you’ll be well on your way to an excellent investment experience.

Rehab Properties

Phoenix as well as the surroundings areas suffered during the house crash a few years ago, and as a result, there are a lot of homes that have been left vacant or have otherwise come to be damaged. Because of this, you can find properties for sale at very low prices and put some money into them to rehab them and turn them into a great investment. Of course, this is the general principle of real estate investment, but it’s particularly feasible in the west valley, where buyers are looking for move-in ready homes to help make their transition to Arizona living even easier than ever before.

Consider Renting

While there’s a lot more involved in renting out your investment property, you may see a more significant return on it if you’re willing to buy a home and hold onto it for rental purposes. West valley is a great place to offer rentals, and if you’re willing to take short-term rentals you may be in even more luck. Since this area is a favorite destination for snowbirds, you may be able to rent out your property very easily during the winter months when people are coming into town from other, colder parts of the country.

Pick Wisely

Just because a property is affordable doesn’t mean it’s a great investment. As always, pay close attention to location, the condition of the home and its neighbors, and proximity to amenities. Don’t forget that a good view goes a long way, too!

Are you looking for an investment property or a home to remodel to make it your own?  Contact me or call 602-329-7782.

Things To Look for During At An Open House

Are you getting ready to go to an open house? Looking at open houses is one of the many ways you may choose to work with your realtor to find the perfect home to suit your needs. An open house is a lot different from an individual home showing, and the things you’re looking for may be quite a lot different in this situation, too. In an individual showing, you’ll be better able to look closely at potential problem areas or things you want to think about, but in an open house, you’ll need to focus on a handful of factors during the time you spend checking out the home.

Look At The Floors
You’re probably busy looking around at all the bells and whistles of the home you’re touring, but don’t forget to stop and look down every now and then, too. If the floors look uneven, they probably are. If there are tile floors that look as though they were laid in a DIY project rather than by a professional, you may want to consider the potential issues that could come along with this. Of course, a DIY tiling job isn’t always a sign of something wrong, but it does mean you should consider a little harder before jumping into buying the home.

Maintenance Issues
Does the home look like it’s been kept up well, or is it lacking in the maintenance department? Are there a lot of burned-out bulbs, dirty light fixtures, outlets mixing covers, cracks in the decorative molding, or other similar issues? Maintenance problems usually indicate that the homeowners haven’t been keeping up with more serious repairs around the home, either, so pay attention to these. You may think, “I can replace light bulbs myself,” but don’t forget this could indicate bigger problems underneath it all.

Foundation Problems
You probably won’t be able to get a great look at the foundation while you’re looking around an open house, but you can check the inside and outside walls for cracks. Small hairline cracks aren’t really an issue, because these are normal with older homes regardless of their quality. However, if you notice very large cracks, especially those that go from floor to ceiling, you probably want to look elsewhere.

Mold And Water Damage
Always be on the lookout for mold and water damage. If you notice a discolored spot on the ceiling, that’s a water leak and you should ask about it. If you see mold, bring this up as well. You may want to consider checking out other homes if you notice these issues.

Ten Things to Look for in an Older Arizona House

There are a lot of excellent reasons to purchase an older home. They tend to have a lot more character and plenty more stories to tell than newer homes, and they may even be available in architectural styles that aren’t very common in your location anymore. However, there are also quite a few features you need to keep in mind when you’re shopping for an older home. It’s easy to get drawn in by the beauty and charm of an older house, but always remember to think it over before you spring on something that could cause problems down the line.

Look for Hazardous Materials

Older homes may contain a variety of hazardous materials. Any home that was built before 1985 is at risk for having lead pipes, and homes built before 1978 may have lead paint on the walls if they were never stripped in all that time. Homes built before 1980 may also contain asbestos in their insulation, roofs, fireplaces and walls if they haven’t been updated. Homes built before the 1970s may be prone to radon gas buildup and should be tested.

Frame and Foundation

Check the foundation of any older home you’re looking into buying. These homes have been sitting there for a long time and, if they haven’t been kept up with perfectly, there’s a good chance they’re going to have some foundational damage. Take a look at the frame of the home, too. While you may end up with a house that has a real, heavy wood frame—which is great—you may also get one that has too much space between the frame and walls, which can contribute to fire hazards.

Plumbing and Electrical

Lead or steel pipes can be very dangerous and should be replaced before you move into an older home. Many homes have probably already had this taken care of, but not all of them. Make sure you have a home inspection to find out what type of pipes the property you’re considering may have. Electrical wiring may be made of aluminum in older homes, which is a serious fire hazard.

Working Smoke Detectors

Always check for working smoke detectors and, preferably, working carbon monoxide detectors as well. If the house doesn’t have any in place, don’t buy it until they have been installed or you have tested for the presence of carbon monoxide in the home. You may be able to negotiate for these alarms to be upgraded if they’re very outdated, too.

If you truly like the charm of an older home, don’t let this stop you form purchasing what you real want. Those homes come are typically located in established neighborhoods, larger lots and are surrounded by mature landscape. Your real estate agent will hire an experienced and thorough inspector who knows exactly what to look for.

Are you looking to buy a home, new or older?  I am a local area expert in the west valley, and I can help you find a home that meets your needs and lifestyle.  Contact me today to get started! 602-329-7782



Tips For Buying a House On A Low Budget

Just because you have a low budget doesn’t mean there isn’t a great home waiting for you to discover it. However, shopping for a home on a budget can be challenging. You may feel nervous telling your realtor or you may not know how to approach your bank about it, either. Just remember that there are plenty of people who buy houses on a budget frequently, and you won’t be the first or the last to do so. And don’t forget to follow the tips below for great results!

West Valley home photo

Consider Foreclosures

Foreclosures are usually homes that were repossessed by a bank or lender because the owner could no longer make mortgage payments on the property. The bank is then trying to sell the property to get it off their hands and recoup the money they lost on financing the home in the first place. Because of this, however, another bank isn’t likely to finance this type of purchase, so you may not have the benefit of a loan to help you out. Also be aware that these homes are almost always left in disarray and poor conditions because the owners couldn’t afford to keep up with repairs – or, in some instances, were angry about the foreclosure and trashed the home before leaving.

Look for As-Is Homes

Once again, you may have trouble getting the bank to approve a loan for an as-is home, but if you’re in good standing with your bank you may be able to qualify for assistance with one of these properties. These homes may have only minor cosmetic damage, but in some cases, they could have serious structural or roof problems that will need to be repaired at your expense. You also must pay for the cost of a home inspection yourself on an as-is property. If you plan to buy an as-is home, be prepared to spend a long time shopping around before you find a home that doesn’t need anything too significant in terms of repairs. Otherwise, you may end up going way over your budget in the long run.

Stay Up-To-Date on Neighborhood Changes

If you live in the city, think about neighborhoods that seem to be transitioning from low-quality to better-quality. While you may have to deal with more growing pains than you might prefer in these areas, at least for a few years, chances are good you can get a great home in a neighborhood many outsiders aren’t considering yet. In a little while, these neighborhoods will improve and you’ll be living in a great part of town. The same is true of suburbs surrounding cities that are expanding. Give it a few years, and you’ll be closer to town than you used to be.

Are you looking to buy a home? Get started with this custom home search.  I am a local area expert in Glendale, Peoria, AZ and surrounding areas.  I can help you find a home that meets your needs and lifestyle.


Three Benefits of Using a Family Trust

Glendale House photoIf you’ve never heard of a family trust, it’s something you might want to learn about sooner rather than later. A family trust is a great way to help the members of your family in the future and leave them something to help out when the time comes. Basically, a family trust is a situation in which you, as the settlor, still have some control over your assets while they are progressively transferred more and more fully to your family members. You can have a family trust set up while you’re still living or you may add one to your will to take place when you are no longer living instead. With a family trust, your family members will be able to take ownership of your home and property eventually. There are several other benefits to setting up a family trust, listed below.

Peace of Mind for Your Family

This is usually the first benefit people think of when considering setting up a family trust. When your assets are transferred over time to your family members, they can rest assured knowing they won’t have to worry as much about money or property issues later on in life. This can also help make you feel better about what will happen to your property and funds after your death as well. Knowing that all of your assets will go to your family may make you feel more at ease too.

Protections from Claims by Collectors

Bill collectors, ex-spouses and others may try to collect payments from your assets. However, if your funds and property are a part of a family trust, this will take precedence over any other claims. This means that no one will be able to reach your funds or your property who you don’t want to. You will eventually reach “personal poverty” and become a beneficiary of the family trust while your family members become the legal owners of your assets instead.

Confidential Dealings

When you set up a family trust, this paperwork is not filed publicly. In this way, you can confidentially take care of your assets without having to let anyone in on the situation unless you choose to. Only the lawyer in charge of your paperwork, you, and the appropriate family members will know about the family trust. This is a great option if you want to involve some members of your family but not others, or if you’re trying to protect your assets from ex-spouses or other relatives who may try to lay claim to them.

Interest rates are still at an all time low.  Contact me today, if you are considering buying a home!

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