Maricopa Real Estate Market Update & October 2017 Home Sales.

Our city had 161 sales in the month of October.
According to Cromfordreport.com , our median, annual appreciation for the city of Maricopa is 8.9%
Here is the complete list of sales in two files that you may view and/or download from DropBox. I’ve added a column to note when the home has a private pool.

Sold Homes in Acacia Crossing, Cobblestone Farms, Homestead, The Lakes, Province, Rancho El Dorado, and the Villages

Sold Homes in Alterra, Desert Cedars, Desert Passage (Smith Farms), Glennwilde, Meadows, Palo Brea, Rancho Mirage, Santa Rosa Springs, Senita, Sorrento, and Tortosa

Note: The subdivision is provided by the listing agent of each property.  (Some agents will enter the community name or parcel with the subdivision name). If you have a specific address, please contact me and I will gladly research it for you.

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From realtor.com: How to figure out your home’s value

Ever curious how much your home is worth? Zillow, Redfin, and many other sites have an automated algorithm that may or may not be accurate. Here’s an article to give you a general idea on how an experienced REALTOR evaluates your home to come up with your market value.

https://www.realtor.com/advice/sell/find-sales-price-home-neighborhood/

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8 Frightening Things in Sellers’ Homes That Can Scare Buyers Silly

No matter how gorgeous your home is, it could contain an item or two that happens to scare the pants off anyone who walks through your door. That might not be a problem if you don’t like guests, but it could very well be a big problem if you’re trying to sell your place!

Here are the 8 Frightening Things
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Arizona Contracts – Buyer-Seller – The Process and Flowchart

Our clients often ask why does it takes so long for a buyer to close on the home and obtain a loan. The contract brings in many participants to successfully close a transaction.

  • The REALTORS for the Buyer and Seller
  • Loan: Loan Officer, Processor, and Underwriter
  • The Appraiser – who works for the Lender
  • The Inspector – who works for the Buyer
  • Escrow Officer – The neutral party managing the Funds, Title Commitment, Insurance, Loan payoffs, Property taxes, and HOA demand letters.

Here’s a flowchart to give you a general idea of the process (days/deadlines vary by contract and loan type)

Buyer Transaction Contract Timeline.JPG

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5 (Totally Legal) Tricks to Boost Your Credit Score Fast

So, you’ve decided next year is the year you’re finally going to buy a house. Congrats! But now you’re a little panicked because your credit score isn’t exactly going to make lenders swoon.

You’re not alone. The national average credit score is 695, while only half of consumers fall in the desired 700-plus range. Although you certainly can get a mortgage with that score, you’ll need a 740 or higher to get the best rates. And that point is not lost on potential home buyers, 45% of whom wait for their credit scores to improve before applying for a mortgage.

While credit history isn’t built (or, for that matter, destroyed) overnight, there are still some things you can do right now to boost your credit score—fast. Here are some sneaky yet totally legit ways you can improve that all-important three-digit number in record time.

Here’s the Five Ways to Boost Your Credit

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Tour de Force: Don’t Make These 10 Huge House-Hunting Mistakes

You’ve been thinking about settling down and buying a home for a while now, and you finally think you’re ready. It’s time to tour some digs!

But hold up—you need a game plan. House hunting is about more than popping into a few open houses and picking the one you like best. In fact, there’s a science to it: A smart search means you’ll save time, money, and your sanity during the rest of your home-buying process.

So before you hit the trail, make sure you’re aware of some classic mistakes to avoid. We promise—it’ll mean happy hunting from here on out.

10 Huge House-Hunting Mistakes

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When to adjust your Homeowner’s insurance

Here’s a great article from a fellow REALTOR:

Homes often grow and change alongside the people living in them. If you’ve added expensive furnishings or made substantial upgrades, it’s important to re-evaluate your homeowners insurance and make sure your policy reflects those changes. Here are four instances when it may be beneficial to review and adjust your coverage.

Remodeling or Renovation Work
Home improvement projects typically increase the value of your home, which usually calls for more coverage. But that doesn’t necessarily mean your insurance rates will automatically increase. In fact, some projects, like adding a new roof, may help you save on your monthly home insurance premiums. Just be sure to notify your provider before any work begins.

Adding a Pool or an Outdoor Trampoline
Because these fun home features come with increased risk of injury, they’re labeled an attractive nuisance. Upping your liability insurance can help keep you protected if there’s ever an accident on your property and a subsequent lawsuit.

Acquiring New Valuables
Whether you inherit them or purchase them, expensive goods such as jewelry, art, rugs and antiques should be added to your policy. Increasing your coverage is the only way to safeguard them in the event of damage or theft.

Starting a Home Business
Many home-based business owners don’t realize they have little, if any, coverage from a homeowners or renters insurance policy. Since a new home business likely means purchasing new technology and expensive equipment, you may need to get additional protection.

You worked hard for your home. Secure your belongings by updating your coverage to match your circumstances.

 

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City of Maricopa Real Estate Sales for August & September 2017

Maricpa Real Estate Market Update for August & September Home Sales.
Our city has had over 300 sales in the last two months.
According to Cromfordreport.com , our median, annual appreciation for the city of Maricopa is 9.1%
Here is the complete list of sales in two files that you may view and/or download from DropBox. I’ve added a column to note when the home has a private pool.

Sold Homes in Acacia Crossing, Cobblestone Farms, Homestead, The Lakes, Province, Rancho El Dorado, and the Villages

Sold Homes in Alterra, Desert Cedars, Desert Passage (Smith Farms), Glennwilde, Meadows, Palo Brea, Rancho Mirage, Santa Rosa Springs, Senita, Sorrento, and Tortosa

Note: The subdivision is provided by the listing agent of each property.  (Some agents will enter the community name or parcel with the subdivision name). If you have a specific address, please contact me and I will gladly research it for you.

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From the National Association of Realtors: Millions of Middle-Income Homeowners Stand to Lose Under “Big 6” Tax Proposal

WASHINGTON (September 27, 2017) – A group of legislators and administration leaders known as the “Big 6” today released an outline for comprehensive tax reform that if enacted, according to the National Association of Realtors®, could lead to a tax on homeownership for millions.

According to the Big 6’s framework for tax reform, changes to the current tax code would eliminate important provisions, such as the state and local tax deduction, while nearly doubling the standard deduction and eliminating personal and dependency exemptions. NAR believes the result would all but nullify the incentive to purchase a home for most, amounting to a de facto tax increase on homeowners, putting home values across the country at risk and ensuring that only the top 5 percent of Americans have the opportunity to benefit from the mortgage interest deduction.

NAR President William E. Brown, a second-generation Realtor® from Alamo, California and founder of Investment Properties said that the proposal reaffirms Realtors®’ concerns from earlier in the year and urged lawmakers to keep homeowners in mind as they proceed with comprehensive tax reform with the following statement:

“We have always said that tax reform – a worthy endeavor – should first do no harm to homeowners. The tax framework released by the Big 6 today missed that goal.

“This proposal recommends a backdoor elimination of the mortgage interest deduction for all but the top 5 percent who would still itemize their deductions.

“When combined with the elimination of the state and local tax deduction, these efforts represent a tax increase on millions of middle-class homeowners. That tax increase flies in the face of a reform effort ostensibly aimed at lowering the tax burden for Americans. At the same time, the lost incentive to purchase a home could cause home values to fall.

“Plummeting home values are a poor housewarming gift for recent homebuyers and a tremendous blow to older Americans who depend on their home to provide a nest egg for retirement.

“Congress can still score a win for American families by promoting lower rates and comprehensive reform that doesn’t single out homeowners for a tax hike, while also preserving important investment incentives like 1031 like-kind exchanges. We look forward to continuing the discussion in the weeks and months ahead.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Link to the article on the nar.realtor website     

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Illuminating the murky business of Phoenix-area HOA foreclosures

Most of us who live in the City of Maricopa live in a community managed by a Home Owners Association. Please check out this article from USA TODAY:

Illuminating the murky business of Phoenix-area HOA foreclosures

http://azc.cc/2xIfvG5

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