First Year of Homeownership Tips

Are you a first-time homeowner feeling more than a little confused about what you need to focus on during the first year of your home owning experience? Have you just bought a home for the first time in a long time and need a refresher on what this first year might bring? Either way, you’re in the right place! Despite sometimes being overwhelming, buying a home is an exciting experience! Once you are handed the keys to your new house, you may find yourself at a loss for what to do next. Should you dive right into remodeling? Should you save money? Below, are a few of my tips for the first year of homeownership, whether this is your first experience or you’re a pro:

Wait a While on Remodeling
Some professionals recommend waiting at least the first year before you worry about any remodeling in your home. Depending on your situation, this may not be practical or necessary, but you should wait at least six months until you’re settled in your new home and have decided for sure what you want to focus on with your remodeling budget. Your tastes and popular trends in home design may change quickly, so it’s best to “sleep on it” for a little while before making such big changes.

Fix Little Problems
While big projects can wait, if you notice small issues around your home, take care of them before they get out of hand. For example, if you notice your dishwasher makes a strange noise during one of its cycles or that your garbage disposal has quit working, take care of these problems as soon as possible. You never know when they could lead to something more significant that’s going to take a lot more money and time to fix.

Make a Budget
This is great advice for anyone in any situation and any walk of life, but it’s especially true for new homeowners. Make a budget and try your best to stick to it. This way, you’ll be able to put aside plenty of funds for savings that can be used at a later date to get started on those remodeling changes and DIY projects, too. And this will also mean you’ve got some extra padding in your budget for those inevitable times when a major appliance gives up without warning or a storm knocks down your fence.

Are you considering selling your home? Get started with this free home value estimate.

Desert Living: Why Arizona is the “It” Place

August 1, 2019/0 Comments/in Area Information, Home Buyer Info /by efay

If you’re thinking about relocating to Arizona, you’re in for a treat. There are a lot of incredible reasons to love Arizona. So whether you’re a new resident or a local who’s lived here your whole life, you’re sure to find something you’ll enjoy about this great state. Though the long-time residents of Arizona have always known how wonderful it can really be, it’s beginning to be more and more popular with people looking to move somewhere with a great climate and plenty to see, do, and get involved in, too. Check out the list we’ve put together below to see what might draw you to Arizona, too.

The Desert Scenery

You can’t beat the kind of scenery going on in Arizona. This state is full of incredible vistas and amazing mountain ranges, desert colors and flora and fauna you’ll have to see to believe. Depending on where you live, you might even have a great view of the desert right outside your own window.

Plenty of Outdoor Experiences

Do you love getting out and exploring the great outdoors? How about biking, hiking, horseback riding, or playing outdoor sports all year round? With the great weather in Arizona, you can do all that and a lot more. Plus, there are so many incredible outdoor locations to explore that you’ll never run out of options.

Wine Country

Arizona has a great wine country, especially in the Sedona Valley region. There are tons of great wine tours you can join just about anywhere in the state, and most vineyards will gladly offer a tour as well.

Golf, Golf, Golf

Arizona is where it’s at when it comes to golfing. There are dozens of golf courses in any given part of Arizona, so no matter what you’re looking for, you’re sure to find it. And if you live in a gated community you may even end up with a golf course as part of your home’s amenities, too!

Great Local Cuisine

Foodies are falling in love with Arizona because of the unique cultural dining experiences to be found throughout the state. Don’t be afraid to try all the variations of cactus you can find, including jelly, honey, and even margaritas made with cactus ingredients.

Get to the Grand Canyon

Last but not least, the Grand Canyon is in Arizona, and you can get there pretty easily from anywhere in the state. Visiting this site is a unique experience every time, so it’s worth it to get out and explore—especially if you’ve never gotten to before.

When you’re ready to find your new home in the Arizona desert, call me at 602-329-7762.

New vs Pre-Owned Homes

June 13, 2019/0 Comments/in Home Buyer Info /by efay

When it comes to making a decision between buying a newly constructed home and buying a pre-owned house, the first thought that is likely to strike the mind of the prospective buyer is location and price. While price may be a factor in any business transaction, there are other things to look out for when purchasing real estate. Let’s take a look at the benefits and disadvantages of buying a new home from a builder vs buying a pre owned home from a private seller:

1. Location of the home

Pre-owned home (Pro): This is one advantage of owning a pre-owned home. Most pre-owned homes are situated in already established areas with access to schools, banks, and other social infrastructure.

New home (Con): Most newly constructed homes are built in locations outside the main city area. This is because of the fact that most of the main city area is already occupied, and the only available space for new buildings are on the outskirts. While this might be a good location for some people, however, it implies that you’ll have to commute every day to places like schools, office, and shopping malls.

2. Availability of new features

New home (Pro): New homes are built based on the latest designs and feature the latest technology. Most new homes come with more amenities and appliances which are seldom found in older homes. However, you are getting a blank canvas in the backyard and you’ll be expected to landscape the front of your home within a short period of time

Pre-owned home (Con): An older home lacks some of the latest technological features of modern smart homes. This might be an issue for some people who are tech-savvy. Depending on what the buyer is looking for, some homes may need remodeling, new appliances and other updates.

3. Ease of acquisition

New home (Pro): Buying a newly constructed home is easier than buying a pre-owned one. It takes a shorter period of time in searching for and concluding the acquisition of a new home than it is for an old one. However, most builders estimate 9 months to complete a home. This may work for your advantage if you are trying to sell a current residence and need some extra time to prepare financially.

Pre-owned home (Con): Buying a pre-owned home involves some extra steps before the deal is final. These homes need to be inspected for infrastructure, termites and may be in need of some crucial improvements. Some sellers might be resistant to complete repairs or reduce the sell price to compensate the buyer for not fulfilling that request.

4. Renovation and repairs

New home (Pro): As a brand new house, there is almost nothing needed to be fixed in it as everything is still “fresh.” Hence, there is virtually no need to start making repairs or renovations in the house. This also means that you don’t spend more money after finally buying the house. Homes are 100% move in ready and don’t need renovations.

Pre-owned home (Con): A pre-owned home might need some major repairs, new appliances, floors and paint. This means that you’ll have to put in more time and money in restoring the home before actually moving in.

5. Pricing

Pre-owned home (Pro): Since old homes have already been previously occupied, the cost of buying them will be lower than getting a brand new home. There are exceptions though, as pre-owned homes in reputable high demand neighborhoods will still carry huge price tags. However, the price of the home includes established landscape, possibly a pool and window covering.

New home (Con): With all the amazing features and technology fitted in a new home, the price just has to be more expensive.

Whether you are buying a new or pre-owned home, always have a real estate agent represent your interest. Let me how I can help! 602-329-7762

Scottsdale #1 Profitable City for Airbnb

June 7, 2019/0 Comments/in Home Buyer Info /by efay

www.Realtor.com

As you may have heard, Realtor.com recently ranked Scottsdale as the #1 profitable city for an Airbnb! Why are Airbnb rentals so popular in Scottsdale? The City of Scottsdale has long been a popular location for families and American corporate elites looking for a vacation getaway filled with golf, hiking and outdoor adventures.

With the growing popularity of short term rentals across the country, many cities are creating tighter rules or banning Airbnb rentals altogether. Arizona, on the other hand, has gone in the opposite direction. In 2016, Arizona signed a law that prevents cities from banning short-term rentals. So even though Scottsdale may be #1, all cities in the Valley of the Sun allow homeowners to profit from Airbnb rentals!

Scottsdale Real Estate-
Median list price: $685,100
Average daily rate: $301
Occupancy rate: 81%
Active rentals: 5,178

Are you considering purchasing a home to list on Airbnb? Give me a call to discuss what part of the valley may be best for you! 602-329-7762

Popular Architectural Styles in Arizona

May 4, 2019/0 Comments/in Home Buyer Info /by efay

Arizona is home to many building architectural styles which are influenced by the various cultures that populated Arizona many years ago. Phoenix has some noteworthy popular building styles: from Native Indian inspired adobes, Mediterranean style to modern mid-centtury homes that are currently growing in popularity.

Following is an overview of some popular building styles you’ll find throughout the valley:

Spanish Colonial
Spanish Colonial Style or Santa Fe Style is very common is Arizona and typically has smaller windows, flat roofs, orange, reds and blue themed tiles and Saltillo tiles. Many homes have arched doorways and natural wood beams throughout. People often choose wrought iron chandeliers and southwestern styled furnishings, rugs and decorations. The Santa Fe Style is a traditional Southwestern style owing to the warm climate of the region.

Mediterranean Style
Another popular architectural styles is the Mediterranean style homes. A Mediterranean style home is characterized by large, arched windows and ornate columns outdoors and realistic, warm color schemes and sand-textured walls.

Ranch Style
Long, L-shaped one-story buildings with inspiration from the Old West are the hallmarks of Ranch-style homes. A lot of the furniture in these homes are made of leather with the floors totally covered with carpet. While the fireplace may be made from piled bricks, it is easy to move from one end of the house to another due to the openness of the design.

Pueblo Revival Style
This style owes its roots to the homes of the Pueblo Indians during the 8th century. They grew in popularity in the early 20th century. The homes which are also called “Adobe-style” are characterized by the sloping roofs and earthy materials or adobe, which are used in building them.

Tudor Revival Style
Another popular architectural style is the Tudor Revival style. However, there are not so many in the urban regions of the area. These homes are a reference to the English royal architectural style of the Tudor families in the middle-ages. These homes are characterized by their high-pitched roofs and large chimneys.

Contemporary Style
Contemporary homes are increasing in popularity and you’ll find many newly constructed and remodeled homes throughout the valley. Contemporary homes are characterized by open spaces, vaulted ceilings, large windows, untextured walls and minimalistic styled kitchen and bathrooms. Homes of this style are often built to be environmentally friendly, while also using some of the latest home technology to provide comfort. Common materials used in contemporary homes are flat panel wood, glass, steel and compliments mid-century styled furnishings and neutral colors.

What is your dream home? Let me know! Let’s find the type of home that meets your needs and lifestyle.

Market Value Versus Assessed Value

April 4, 2019/0 Comments/in Home Buyer Info, Home Seller Info, Market Reports /by efay

There 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

Get your free home value estimate here!

Why Your House May Not Be Selling

June 27, 2018/in Home Buyer Info /by efay

Has 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 zillow.com and realtor.com. 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!

Contact Elise

Mortgage 101

June 17, 2018/in Home Buyer Info /by efay

Before 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.

Contact Me

5 Golf Courses In The Arizona West Valley Worth Visiting

May 30, 2018/0 Comments/in Activities, Glendale Sports and Entertainment, Home Buyer Info, Peoria Entertainment /by efay

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.

http://www.the500club.com/

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.

https://www.legendatarrowhead.com/

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.

https://www.glenlakesgolfaz.com/

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.

http://www.bellairgolf.com/

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.

http://www.gcugolf.com/

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

March 15, 2018/in Home Buyer Info /by efay