Spring Cleaning Dos and Don’ts!

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As the Spring season approaches, you might be looking to make some improvements to your home. Spring cleaning is an infamous pastime that you might have lamented during your childhood having to sacrifice great weather days to spruce up the home. However, as an adult, Spring represents a season of renewal, which can be channeled into your seasonal cleaning and home improvement process.

Getting started on your Spring cleaning might have you perplexed and possibly overwhelmed. That’s okay. Read on for a few tips and a few practices to avoid in order to make it a productive Spring season.

Do: Get Rid of Clutter

Decluttering is a great way to free up more space at your home, which will make your living space less cramped. You can declutter by donating items you no longer need or use, or you could even have a garage sale in order to make a little extra cash.

If you can implement a rule, use the 90-day principle, which means if you haven’t used something in 90 days or more, it’s probably safe to get rid of it.

Don’t: Bite Off More Than You Can Chew

One common theme among homeowners is that many have lofty DIY projects that they set out for themselves during the Spring and Summer seasons. Instead, try to make smaller objectives instead of taking on grand-scale projects, especially if you’re a working professional.

One way to keep things manageable is to focus on a specific room or area of the house. Start with the kitchen and work your way into the bedrooms and maybe even the garage.

Planning larger projects takes more time and larger projects have a way of not getting done over the course of a weekend. You don’t want to set a project out for yourself that takes months to complete as part of your Spring cleaning strategy.

Do: Finish What You Start

Making a strategy will help you zero in on what needs to be done around the house, not to mention force you to land on your end goals once your Spring cleaning is done. Set out tasks for yourself to complete on your off days. Try not to plan projects that will take more than one or two days to complete. This way you can make sure that you don’t begin a new task/project until the task at hand is finished.

Don’t: Clean From Bottom to Top

Working smart instead of hard is of the essence when it comes to Spring cleaning. Clean from top to bottom, this way the last thing you end up cleaning are the floors after everything has been cleaned and dusted. This will make sure that you don’t backtrack or clean objects and areas of the floor more than once.

Ready to Sell? Contact Elise Fay Group Today!

If you’re planning on Spring cleaning as a way to prep yourself for selling your home, I’m here to help. Call The Fay Group at 602-329-7782 today to learn more about how I can help you get 5% more for your home. Happy Spring cleaning season!

 

Tips for When it’s Time to Move

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When it comes time to move you might be faced with more than a few decisions and actionable items to handle, all while adjusting to a new environment.

Whether you’re moving across town, across the country, or even to an international location, it’s important to have all of your ducks in a row. Below, Elise Fay Group goes over a few tips that will help make your big move less stressful.

Remember to Plan Ahead

Planning is your best bet to make it through your moving day with your sanity intact. First, make sure that your utilities are shut off at the place you are moving from and turned on at the place you are moving to. You don’t want to jump the gun and find out the hard way how much you need services like electricity, water, and even the internet. When you get all this set up ahead of time you will save yourself a tremendous amount of discomfort.

Plan ahead when it comes to getting help with moving your belongings as well. Rent any sort of van or truck ahead of time and make sure not to wait until the last minute. Rental companies are notoriously swamped toward the end of the month because, guess what, other people out there happen to be moving as well.

If you can plan your move during the week instead of the weekend you will beat the rush and have some breathing room when it comes to relocation. Taking a little bit of time off of work will make sure that your schedule isn’t slammed as well. Make this process as easy on yourself as humanly possible.

Do Your Research

Make sure to look into whichever moving services you plan to use. You don’t want to hire a company that has a bad track record when it comes to customer service. Take a look at review sites and consumer reports to double-check and make sure that your moving company isn’t going to damage your belongings.

While it’s important to save as many dollars as you can, make sure that you’re not skimping on the quality side – you will end up paying for any half-measures you end up taking.

Invest in Moving Materials

It might be tempting to fly by the seat of your pants when it comes to moving, but it’s a good idea to stock up on moving supplies that will make your experience less difficult. Make sure you have boxes, packing tape, bubble wrap, a dolly, tie-downs, and markers to label your boxes.

Moving materials will help protect your items and help you organize your move. However, make sure that you only purchase what you need to stick to your budget.

 

Contact Elise Fay Group Today

If you’re planning your next move and looking to buy or sell your home, we can help. We’ve been the area’s top realtors since the mid-1990s. We live and work in the North Glendale area and possess unparalleled experience selling homes in Glendale, Peoria, N. Phoenix, Desert Ridge, Surprise, Buckeye, Goodyear, and our surrounding communities. Get in touch today if you’re looking to buy or sell a home with style.

Benefits of Purchasing a Home Warranty

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One of the early purchases you might make as a homeowner is your home warranty. In fact, a home warranty is such a common helpful resource for homeowners that it’s often negotiated into a purchase contract which means you receive warranty coverage as soon as you close on your home.

A home warranty is a contract you enter with a warranty provider to gain repair coverage for your home. It’s a great alternative to needing to file an insurance claim if something, like the AC, goes out. A home warranty claim is a lot more cost effective for the homeowner (typically around $60 for the trip charge) compared to filing an insurance claim where you then have to pay a hefty deductible before you get your repair made.

If your home warranty wasn’t included with your home purchase, you can also pay for a home warranty on a monthly or annual basis. When a problem occurs with an appliance or one of your home systems, you’ll give your provider a call to file a claim. With a snap of your fingers, a service specialist will be there to diagnose the problem and provide applicable service. Since you’re already paying for your warranty, you generally won’t have to shell out any more cash in a problematic or emergency situation.

What Exactly Do Home Warranties Cover?

Home systems covered by warranty usually include electrical, heating (including your water heater), interior plumbing, ductwork, and in some cases more.


Major appliances covered by many warranties include air conditioning (which is usually optional), dishwasher, garage door/garage door opening system, garbage disposal, oven/stove, refrigerator, pool-related equipment, and more.

Home Warranty Benefits

Home warranty benefits include peace of mind knowing that you’re covered whenever a problem happens. Many homeowners worry about the functionality of their home systems and appliances, sort of like worrying about an automobile that is not covered by a warranty. Whenever a problem happens you will usually have to pay a hefty sum completely out of pocket. With home warranty coverage you can rest at ease.

A home warranty will also save you time. If you need to file a claim, all you have to do is contact your provider and they will make it simple and easy on you. If you have to go out of pocket for repair, you’ll spend more time comparing the prices and services of contractors. 

Having a strong home warranty will help you stick to your budget and continue to build your savings. Without coverage, random problems might seem to come up right when you’ve put a little bit of money away, draining a huge amount of your savings in the process. With a home warranty, you can anticipate exactly how much you’ll spend on a monthly or yearly basis.

Contact Elise Fay Today

If you have questions about whether or not you should purchase a home warranty or questions about becoming a homeowner, Elise Fay Group can help.

With over $22 Million in sales, our team has developed a solid reputation as Top Real Estate Agents in the West Valley and Phoenix-Metro areas. We have unparalleled expertise in the current real estate market. We work with integrity, loyalty, and professionalism. Elise Fay Group aims to provide stellar customer experiences at every stage of the homeownership process, whether you’re buying, selling, or somewhere in between. Contact Elise Fay Group today to learn more about who we are, what we can do for you, and how we can help you achieve the living situation of your dreams.

What to Expect During a Home Inspection

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One of the necessary parts of buying or selling a home is getting a proper home inspection, which helps secure the sale and gives both parties peace of mind.

I’ll put it this way: without a home inspection, buyers can easily overlook or miss key issues with the house. There can be foundational problems, plumbing issues, and even electrical issues that both the buyer and seller might not know about.

A home inspection is a necessary measure to take for many reasons. But what should you expect when getting a home inspection?

What is a Home Inspection Exactly?

Only a qualified home inspector can give a proper home inspection. The inspector visually examines a house to document the home’s current condition — both the home’s structure and its systems.

The most common scenario for a home inspector to come into play is after a buyer has their offer accepted, at which point they will bring in an inspector. However, it is not uncommon for sellers to be proactive and get a home inspection before listing a home to be as transparent as possible.

What Does a Home Inspector Look For?

Generally, a home inspector will cover primarily visible areas, which includes:

  • Walls, Floors, and Ceilings
  • Windows and Doors
  • Visible Areas of the Foundation
  • Heating and Cooling Systems
  • Electric System
  • Plumbing
  • Roofing
  • Any Attic or Basement Space

Some areas of the home will end up being inaccessible to a home inspector and might require an additional, more specialized inspector. Such nooks and crannies of the house might include sewers and plumbing intricacies, electrical intricacies, material inspection (asbestos, radon, or pest), pools, HVAC systems and sometimes fireplaces.

If you are unsure about any area of the home that wasn’t inspected by a standard home inspection, you are always free to contact additional specialists. You can always supplement your home inspection process until you are satisfied with the result.

How Much Does a Home Inspection Cost?

If you do a quick Google search, you will find that a home inspection in the Phoenix, AZ area can range anywhere from $250-$350. Larger properties or properties with pools or additional special inspections needed (such as septic inspections) will increase the cost of an inspection.

It doesn’t matter if you’re buying or selling, it’s important to have the right people in your corner, just like you want to hire the right home inspector. With over 12 years of experience in real estate, I am proud to be a part of The Sibbach Team, where we pride ourselves on being a market leader. Contact me today for a superior client home buying or selling experience; Elise Fay at 602-329-7782.

4 Mistakes to Avoid When Selling Your Home

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Avoid these 4 mistakes when selling your home to help you sell fast and for Top Dollar:

1-Feeling Emotional

When it comes to selling your home, especially your first one, it’s easy to feel emotional. You put in a lot of time and effort to find the ideal one, put money aside for a down payment and furniture, and made a lot of memories. When it comes to saying goodbye, most people struggle to keep their emotions in check, but it’s not impossible. Instead of thinking of yourself as a homeowner, start thinking of yourself as a businessperson and a salesperson once you’ve decided to sell your property. In fact, forget that you’re the one who owns the house. You’ll be able to separate yourself from the emotional components of selling the property if you approach the deal solely from a financial standpoint.

2-Setting an Unrealistic Price

Setting the correct asking price is critical no matter the current real estate market. Remember when you or your agent completed a comparative market research to determine a reasonable asking price for your home? Buyers will do the same for your home, so you should be one step ahead of them as a seller.

3-Hiding Flaws

Don’t fool yourself into believing you can get away with concealing severe property issues. During the buyer’s home inspection, any problems will be discovered. You have three options to deal with any issues. Either fix the problem before listing for sale, price the property below market value to account for it, or list the property at a normal price and offer the buyer a credit to fix the problem.

4-Not Preparing 

Decluttering, cleaning thoroughly, putting a fresh coat of paint on the walls, and getting rid of any odors will also make a good impression on buyers. This can be an overwhelming process for many, that is why the Sibbach Team has complimentary stagers to assist you with preparing your home for sale. 

Final Thoughts

It’s critical to understand how to sell a home. By avoiding costly errors, you’ll be well on your way to putting your best foot forward and accomplishing a smooth, profitable sale that every home seller desires.

Ready to sell your home? Call me today, let’s get started! 602-329-7782

home for sale

10 Reasons to Work with a Local Realtor

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1-Local Realtors will know why some homes on the same street are worth more than others.

2-They can determine accurate prices on specific homes in the neighborhood.

3-They may know who previously owned homes in the neighborhood, and why they sold them.

4-They know which streets in a neighborhood are more desirable than others.

5-They know the listing agents in the area and can negotiate with them and get the inside information.

6-They can advise you on which agents take overpriced listings and which take listings at market value.

7-They can refer you to local home inspectors, and they know if there are any inspections that should be performed that are specific to the area.

8-They know about homeowners associations that may be in the neighborhood, and what their rules and regulations are.

9-They know what attributes a buyer in that neighborhood should be seeking.

10-They know what you need to know before you even have to ask!

Functional Obsolescence Impact on Property Value

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Real estate can exhibit functional obsolescence if its design features are outdated, not useful, or not aligned with market tastes and standards, such as when an old house is located within a neighborhood of new homes.

While functional obsolescence is generally associated with rundown structures or dilapidated neighborhoods, it can also occur in the opposite case. For example, a home may have “over-improvements” when a homeowner renovates and includes features within their home that might not be necessary.

Curable Obsolescence

Curable functional obsolescence refers to any deficiency that can be cured by the property owner. For example, if physical depreciation can be fixed by repairing and renovating the subject property, then the obsolescence would be considered curable.

Incurable Obsolescence

Incurable obsolescence is when the deficiency causing the obsolescence is too costly, impractical or impossible to cure. In these cases, the deficiency is often a factor that the property owner has no control over, such as being on a busy road or under power lines.

Superadequacy  Obsolescence

The final type of functional obsolescence is known as superadequacy, this is essentially the opposite of a deficiency. Superadequacy happens when the homeowner over-improves the property for the neighborhood.

How Much Can Functional Obsolescence Impact Property Value?

If the obsolescence is due to a deficiency, it will undoubtedly lead to a decline in the valuation of the property while curable functional obsolescence will not affect the property value as much. In situations of a superadequacy, it is most likely the homeowner will not be able to get enough money out of the investment to cover the cost of the improvements made.

Ultimately, functional obsolescence creates problems even before we get offers on a home because there will be less traffic through the home resulting in more days on market, leading to only receiving low ball offers. Thus, preventing the homeowner from achieving top dollar.

From June Gloom to June Bloom

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Last year, 2020 – the ultimate “June Gloom”. This year, 2021 is bringing us “June Bloom”! See the red demand line in the chart coming down? How about the blue supply line that has just begun to sideways?

Historically speaking, summer is a busy season for real estate as families prefer to move when the kids are out of school, yet 2020 was an anomaly. Covid-19 test results were peaking last summer, so most of us stayed home to self-quarantine in an effort to keep our families healthy. The real estate market dramatically changed because homeowners took down their for-sale signs because they did not want people (and germs!) entering their homes. This led to even lower supply numbers than we previously had seen.

Demand remained constant because of lower interest rates. As demand remained strong and supply fell we saw prices rise. Supply fell because of a few factors:

  1. Record low building across the country as home builders were still gun shy from the last boom/bust.
  2. Sellers are pulling homes off the market because they didn’t want to invite covid into their home.
  3. Sellers started to see the value of their homes go and it’s hard to sell an appreciating asset.

Multiple offers became the norm. Buyers had to come out of pocket to cover the difference between appraised values and purchase price. Let me say that in a different way. Buyers had to have more cash to buy a house than the norm because when they were under contract for $315,000 or $3,500,000 and the home would only appraise for $300,000 or $3,000,000 it meant they had to negotiate down the seller or come out of pocket to cover the price above appraised value.

Look at these Cromford Market Index numbers  – Cromford Market Index is how balanced the market is between buyers and sellers. 100 is balanced. We’ve been at record highs, but all cities except for Surprise has turned back towards balanced.

Why June Bloom?

Today, as we prepare to turn the calendar to June and summer 2021 is upon us, the real estate market is slowly turning back to normal. Mask mandates are being lifted and for sale signs are going back up – even though we’re still severely under average supply levels.

Because the higher-priced houses have closed and can now be used for appraisals, it’s easier and requires less cash to buy a house today than in February. Appraisals catching up to values means less cash needed to buy a house at the agreed-upon contract price. We actually had a contract for a buyer at $315,000 this week that appraised for $330,000!! Woo-hoo!! Instead of coming to the table with $15k cash, they came to the table with $15,000 of equity.

In the chart below you can see the Cromford Market Index turned 3 months ago! That’s a good thing. Another reason why I love this chart is because the CMI is overlaid on average appreciation levels. You can see the last time the CMI dipped below balanced, it took almost a year for prices to stop appreciating.

Supply has started to creep up.

Demand is starting to creep down.

We’re by no means back to a “buyer’s market” but at least we’re done going to an ultra extreme “seller’s market”.

If you are a buyer and were worn out by the craziness and cash reserve requirements, the good news is it’s getting a little easier. Yes, prices are higher than a year ago, but at least the difference in purchase price can be financed.

2021: The Year to Save THOUSANDS on Commissions

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2021

Supply & Demand
Active listing count in ARMLS is the lowest ever, with only 4364 properties for sale. The average number of active listings for this millennium is 28,539!

Last year finished as the 2nd highest number of sales through MLS; 105,368. The record in 2005 was 106,810. We have 40% more people in Metro-Phoenix in 2021 vs 2005 but we haven’t seen the number of sales exceed that record year.

When Will This Market Stop?
Two most important watch items – declining stock market will hurt the luxury momentum and/or interest rates rising at a quick pace. In 2013 interest rates rose by 1% and inventory rose by 11,000 homes immediately following.

Lower Commissions
One of our new tools in 2021 allows the seller to pay half of the traditional fees to sell. We’re excited to talk with you about it!

Last but not least, THANK YOU!
We’ve helped more clients this past year than ever. We appreciate your continued support and love bringing commission savings tools to you.

Call or Text me at 602-329-7782!

www.GoodGlendaleHomesForSale.com

Homebuying During the Coronavirus

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house for saleWith mortgage rates at all-time lows and an uncertain future due to the current Covid-19 pandemic, is now a good time to buy a home? It may feel contradictory to purchase a home at this time, however, for people who feel confident about their job security and finances, this might be the perfect time to buy.

Why Making the Move Now May Be Right for You

House hunting during the coronavirus can have its benefits. There may be less competition for the houses in the areas where you might be planning to move, and sellers may be more motivated to sell or more flexible on price. Once the crisis passes, there may be more house hunters back on the market and prices may escalate due to a more competitive market that benefits sellers rather than buyers, so taking a few steps forward now will put you ahead of the game.

Use This Time to Research the Market

Despite the decrease in the number of newly-listed homes, there are still excellent options in property listings. This is a time to research the market and find your preferred property in a community you like. Take this time to expand your search to other surrounding neighborhoods that might have homes with excellent value for money, amenities, and facilities.

As you spend more time at home, it’s an opportunity to assess your current home and determine the level of functionality and comfort it offers you. That helps in knowing your priorities when searching and, consequently buying a home.

Get Preapproved for a Mortgage

When you do find the home of your dreams, being preapproved for a mortgage proves to the seller you are serious. It’s possible to get preapproved online through some banks. Mortgage preapproval is a letter from a lender that indicates how much you are qualified to borrow from the lender, at a specific interest rate.

Virtual Home Viewing

Many real estate agents post virtual tours of properties for sale on their websites. When you take a virtual tour or attend a virtual open house, you can get a realistic view of the property. Then, with a click of the mouse, you can see all the details that are important to you. In addition, by touring homes virtually, you can see many more than would be possible in a single day with your real estate agent.

Prepare Your Home For Sale

While entertainment, sports, and other social events are canceled, take advantage of this while to prep your current home for the market. Preparation may include anything from mowing the lawn, exterior repairs, tidying the gutters, and decluttering the interior.

Start with a DIY approach to reduce expenses before calling the professionals. Do an online home improvement search to note the additional décor that can enhance the visual appeal of the home.

Do you have questions if now is the right time for you to buy? Call me today, I’d love to help answer all your questions and find your new home when the time is right for you! 602-329-7782