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Consider These 6 Things When House Hunting
Before you make an offer on what you deem is the “perfect” home, make sure to consider these six tiny details, that although small, could turn an ideal house into a purchase you may regret.
- Check Your Cell Reception: Does your future dream home have cell reception? Check your signal when you’re on the property and see if it has dead spots, poor/limited data connections, or flat-out “NO SERVICE” messages. If you plan to telecommute or skip having a landline, this is especially important. While you can try and live on VoIP connections, WiFi, and other options, the hassle of a hole-in-cell coverage can wear on you.
- Calculate Your Commute: When clocking your commute, make sure you don’t use a Saturday or Sunday afternoon. Instead, try it during rush hour on a Monday (in bad weather if you can swing it). You might be surprised how school zones, backed-up interstate ramps, new construction, and peak transit schedules extend that commute. Calculate the commute for urban commutes as well. Even if you don’t drive to work, you’ll want to evaluate the commute in real-world conditions.
- Check the Delivery Zone: Restaurant delivery areas are often drawn like congressional districts, so if you can, check out what the local food delivery options are like ahead of time. Lookup a few places, call them and verify they deliver to your address. (Asking the average delivery time is a good idea, too.)
- Do a 24/7 Check: The home may be in a neighborhood that is quiet and peaceful on a Saturday afternoon, but what was it like on Friday night? What kind of traffic is there in the mornings? There may be an excessive number of children playing in the street in the afternoons after school. It is wise to do a drive-by at various times of the day and multiple days of the week to make sure you don’t have surprises pop up.
- Give it the Sniff Test: Do you smell sewage, gas, or anything equally unpleasant? Sewage systems in older homes can sometimes get clogged or damaged by tree roots. Luckily, some sewer or plumbing companies can send a camera through the pipes to detect breaks or blockages. How does it smell outside? Some neighborhoods have distinct odors from nearby farms, landfills, water treatment plants, and industrial parks. It is vital to give it the sniff test inside and out.
- Touch EVERYTHING: Turn on every faucet and light switch, open every window and door, and flush the toilets. Buying a house is a big step, and you need to know how everything works firsthand. Don’t forget to taste the water. There are water treatment options, but water quality is something you will want to know before becoming homeowners.
Markets can be super competitive, but remember that you’re planning on living in this new house for a considerable amount of time. (Most people would tell you at least 5 – 7 years.) Perhaps your priorities don’t include these six details, but they might to other buyers when you’re ready to sell.
As a realtor, I truly respect the time it takes to find the best home for the best price. I diligently do my homework for you to find what you are looking for. Contact me at
928-916-1921, and I’d be happy to show you around homes for sale in the Prescott area.
Information on Homes for Sale
What is an MLS?
The chances are that you have spent a little time online searching for homes. After all, most home searches begin online or on your phone. You may have even used a broker’s website or a site like Realtor.com, Trulia, or Zillow to help you browse listings.
Source of Listing Information
Back in the day, before the Information Age revolution, brokers gathered and exchanged information about their properties. The idea was fairly straightforward: I’ll help you sell your properties if you help me sell mine. It’s a “private offer of cooperation and compensation.” Cooperation meant the real estate industry could thrive, and buyers and sellers could enjoy smoother transactions.
This spirit of cooperation gave rise to Multiple Listing Service(s) (MLS). By consolidating information about housing inventory in an MLS, listing brokers and buyers’ brokers can easily share up-to-date information about homes on the market. Though an MLS is typically a private database available to brokers, much of the data is syndicated to outside sites in the interest of casting a wider net for buyers and sellers.
Since the MLS is the primary source of information about a property, it tends to be the most accurate. In addition to the information available to the public online, the MLS may also contain private data for use by brokers only, such as times the home is available for showings and seller contact information.
There are upwards of 850 MLS databases in the U.S. As you can imagine, just as technology and the real estate market change, the structure of the MLS is continuously being analyzed and revised to make it as user-friendly for the industry as possible. There is market pressure to centralize these into a national MLS database. Undoubtedly, we are sure to see changes in the future use of the Multiple Listing Services, but the core benefits to home sellers and buyers are certain to remain.
MLS Databases in Arizona
What MLS databases are in Arizona? Better Homes and Gardens Bloomtree Realty uses PAAR and ARMLS for their MLS Database. The great news, we have recently changed our platform to make searching easier for our clients. Now, even though I am a real estate agent in Prescott, Arizona, you can search the entire state of Arizona from my website. The website directly taps into both the PAAR and ARMLS databases to give you more options when searching for homes for sale.
The listing feed that you can use on our website is one of the most user-friendly and most accurate feeds in the industry.
If you have questions on one of the properties you view, contact me and we can help answer your questions.
Don’t Neglect to Inspect a Home Yourself
Home inspection professionals are trained to spot problems and evaluate a home’s overall condition. Home inspectors will do their best to be ethical and thorough. However, they are also still human, and as a result, sometimes details escape their attention.
If you’re making a significant investment in a home, there’s no reason you have to leave 100% of the inspection up to someone else. There are areas you can review for yourself (or hire an outside party to check).
Before you sign off on the house, don’t neglect to review these commonly overlooked areas:
Roof:
Yes, inspectors will consider the roof condition, but they probably won’t be on top of the roof when they do it. This is one area where checking it out yourself or hiring a roofing contractor to take a look can be a significant benefit during negotiations.
Fences:
You might not think there’s much to inspect here, but replacing a fence is expensive. What looks sturdy on a sunny day can turn into a giant repair after a storm. This is especially true of wooden fences.
Drains:
Fill up tubs and sinks and see how long it takes them to drain. If they’re slow, you’ll want to know why. It could be something as simple as a clog, but better safe than sorry.
Fireplaces:
Home inspectors will often give these the once-over, but it is unlikely for them to light a fire. If you can, make sure these operate as expected. Also, find out when the chimney was last cleaned, and how often it was maintained. If the owner had burnt wood in the fireplace or wood-burning stove, no matter what kind of wood, the chimney should be cleaned regularly to prevent a chimney fire. Click here for a video tutorial that shows you the signs of when your chimney is ready to be cleaned and gives instructions on how you can quickly sweep your chimney.
Heating/Cooling:
The time of year might impact how thorough an inspector is with the heating and cooling system. Even if it is a hot summer day, don’t forget to run the heater, and vice versa, even if it is a snowy winter evening, run the A/C. Heating and Cooling units are big-ticket items, and you will want to be sure it performs as expected.
Electrical Panel & Outlets:
Your inspectors will review the homes electrical, but once again, things may be missed. To be thorough, check each room’s outlets by plugging in a phone charger. Along with this, open up the electrical panel. Is it neat and organized, or is it a tangled mess with disconnected wires?
Pricing is directly tied to a home’s condition, so don’t overlook the opportunity to protect yourself from repair bills. Along with this, problems found in the inspection process can present you with leverage in negotiations.
Ready to hunt for a home in great shape? Let me help you with your search. Contact me today: (928) 916-1921.
Tips to Start Your Home Search
In today’s housing market, low inventory dominates many conversations in Prescott and in many areas of the country. With less inventory available, this increases the need for preparation for homebuyers when a house becomes available. Without preparation, you may miss out on a great opportunity. To help out, we have summarized five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence to know whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.
2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’
Do you need a walk-in pantry in the kitchen to be happy with your home choice? Would a three-car garage be a convenience or a necessity? Before you start your search, list all the features of a home you would like. Qualify them as ‘must-haves’, ‘should-haves’, or ‘absolute-wish list’ items. Taking time to recognize your priorities at this stage of the game will help you stay focused on what’s most important.
3. Research and Choose a Neighborhood Where You Want to Live
Every neighborhood has a unique charm. Before you commit to a home based solely on the house itself, take a test drive of the area. Make sure it meets your needs for included amenities, how far is the commute to work or school, look at the school district, check out the neighborhood noise, and survey the traffic.
4. Pick a House Style You Love and Stick to It
Evaluate your family’s needs and settle on a style of home that will best serve those needs. Just because you’ve narrowed your search to a zip code doesn’t mean you need to tour every listing in that vicinity. For example, if you need all of your bedrooms on the same level, avoid two story-homes that don’t meet those criteria. If you don’t want to spend time working in a yard, avoid touring homes with large yards and high maintenance.
5. Document Your Home Visits
Once you start touring homes, the features of each home will begin to blur together. Having a journal or notebook to organize your thoughts and comments for each house would be helpful. Keep your camera handy and make notes to document what you love and don’t love about each property you visit.
Being prepared is your best advantage. Get your ‘must-haves’ and ‘must-nots’ ironed out, check with the mortgage company, and of course, enlist the help of a realtor to research homes that meet your criteria.
When you are ready to start searching for a home, give me a call, I will put my resources to work for you: 928-916-1921
From Bad Comes Good: Trent Beaver Proves Adversity Can Breed the Top 1% In the World of Real Estate
Sometimes, it’s the negative experiences that serve as the push we need to dive into something totally new and scary. For real estate agent Trent Beaver, this couldn’t be more true.
Following an initial bad experience in real estate, Trent wanted to learn more about the game so he could avoid that kind of downfall again. Pursuing his own real estate licensing to ensure clients and home buyers never went through what he did, Trent committed himself to being the very best in the Arizona market.
Tips for a Faster Home Sale
When selling your house, there are a few key things you can prioritize to have the most significant impact for a faster sale:
- Make Buyers Feel at Home
Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make buyers feel like they belong in the house. According to the 2019 Profile of Home Staging by the National Association of Realtors, “83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”
Not only will your house spend less time on the market, but the same report mentioned that, “One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”
If you don’t have time or the budget to stage the entire house, the four rooms you should focus on are the Living Room, Kitchen, Master Bedroom, and Dining Room. For example, for the dining room, make sure the dining table is the right size, and the paint is light and bright. For the master bedroom, make sure all of the clothing is appropriately hung and have unnecessary furniture removed. The kitchen should appear decluttered and functional, and the living room should have the accessories kept to a minimum.
- Keep It Organized
Since you took the time to declutter, keep it organized. Before buyers arrive, pick up toys, make the bed, clear off the fridge, toss the newspapers, and put away clean dishes. As mentioned above, the kitchen is one of the most important rooms to stage to attract more buyers. Put out a scented candle or some cookies fresh from the oven. Buyers will remember the smell of your home.
- Price It Right
More inventory coming into the market guarantees there will be some competition. You want to make sure your home gets noticed. A key to selling your house is ensuring it is Priced to Sell Immediately (PTSI). Proper pricing means you’ll be driving more traffic to your property and ultimately creating more interest in your home.
To help give you an idea of your home’s value, we have on our website a calculator to see what homes have been selling for in your neighborhood. Click here to see the current list of homes that have sold near you, then give me a call, and we can discuss the price of your home.
- Give Buyers Full Access
I know that we all have busy lives, but one of the top four elements when selling your home is access. If your home is available anytime, that opens up more opportunities to find a buyer right away. For some buyers, especially those relocating, time is limited. If they cannot get into the house, they will move on to the next one. Let’s chat about how we can make your home accessible.
If you want to sell your home, in the least amount of time, at the best price, and with as little hassle as possible, you need to enlist the help of a seasoned real estate professional. Let’s connect today to determine what you need to do to sell your home as quickly as possible. (928) 916-1921.
Be Satisfied with Your Lender Selection with These Tips
Homebuyers often do not realize how complex and competitive the lending process can be. For many (especially first-time buyers), there is only a hazy idea of “the bank” approving or denying them a mortgage. Understandably, many consumers are not educated on how to shop for a loan or that investing a little time upfront can result in profound savings and a sense of satisfaction instead of disappointment.
Articles are popping up, statistics are rolling in, and we find that homebuyers are regretting their mortgage. According to the Wall Street Journal, “in a recent survey, 21% of home buyers regretted their choice of lender,” and for first-time home buyers, 27% regretted their choice of lender (The Wall Street Journal). A Zillow study concluded that “17% of young homebuyers regret their purchase” and that “more than a fourth have regrets about their mortgage, saying they rushed through the process” (The OCR) . . . We want to help you avoid this disappointment.
How to Look for a Lender
Nerd Wallet has provided a short article that helps you hunt for the best mortgage lender. Here are five tips they suggested:
- Get your credit score in shape: The lower the credit score, the higher the interest rate. Elevate your credit score by paying off high-interest debts and lower your overall debt. Also, double-check to make sure your credit report is accurate and error free.
- Know the mortgage lending landscape: Understand the common types of home lenders: credit unions, mortgage bankers, correspondent lenders, saving and loans, and mutual saving banks.
- Get preapproved: By getting a mortgage preapproval, you will have an edge when bidding against other buyers.
- Compare rates from several lenders: Search for the best mortgage rates online. Once you have several quotes, compare the costs, and you can use your research to negotiate for the best mortgage rate.
- Ask the right questions: After you have compared rates, ask for referrals from friends, family members, and look up online reviews and independent rating agencies to learn about the lender’s merit. Then when it’s time to meet, ask questions such as: (1) What is their method of communication? (2) How long does their preapproval, appraisal, and closing take? (3) What lender fees are there? (4) What are the down payment requirements?
Warning Signs of a Predatory Lender
- Big Fees
- Penalties for Paying Off Early
- Inflated Interest Rates from Brokers
- Steering and Targeting
- Adjustable Interest Rates That “Explode”
- Promises to Fix Problems with Future Refinances
- Repeated Refinances That Drain You
- Not Counting Taxes and Insurance
For more information on each of these warning signs, refer to Responsible Lending’s article on this topic.
Are you looking for a mortgage broker to help you navigate the lending process? I’m happy to refer a few. Get in touch today: (928) 916-1921.
How to Understand “Price Per Square Foot”
Price per square foot is a real estate concept that is easy to understand but equally easy to misuse. The formula is pretty simple: To determine the price per square foot, you take the house’s sale price and divide it by the house’s square footage.
Price per square foot is useful in looking at broad market comparisons, such as comparing one entire metro area to another or looking at an area’s average change over time. It is not, however, accurate in figuring out the value of your home.
Why? Unfortunately, the price per square foot fails to consider the most important factors when pricing a home.
First and foremost, it makes assumptions about the home’s amenities. We all know the quality of materials used in home construction and the condition of the home’s appliances and other features can dramatically impact a home’s value. A kitchen with Italian marble surfaces versus one with pressboard countertops will have completely different values. Price per square foot in a given neighborhood will blend these homes and produce an average.
Second, the price per square foot assumes locations are identical, but in almost any metro area, there are up-and-coming neighborhoods as well as neighborhoods in decline. Price per square foot near an abandoned industrial zone will vary considerably from one near a well-established downtown district with an excellent walkability score.
Third, even the simple calculation of price per square foot can influence how the total number of square feet has been calculated. If one has a garage converted into an in-law suite, and another home doesn’t, which square footage is valid? And what about the house or lot size? Sometimes above or below-grade lots can influence the price per square foot as well.
Compare Subdivisions
One of the things I love about technology is information. Our website offers Market Trends for each of our towns, as well as area subdivisions. The reports outline the number of properties for sale, new listings, days on the market, and average sale prices. Take time to click around and look at different areas; it is quite fascinating.
We also offer information about Price per Square Foot. For example, the average price per square foot in American Ranch in Prescott is $433, the average price per square foot in Forest Trails in Prescott is $352, and Prescott Ridge in Prescott Valley has a per square foot price is $606. (These are prices at the time of publication, click on each area to view the current numbers.)
Resources and Tools
Price per Square Foot helps compare areas, but when it comes time to set a value for your home, we have other tools to help you determine that number.
When valuing a home, we work hard to get an accurate value that considers dozens and dozens of factors. If you would like a real estimation of your home’s value in its current condition and location, we would be happy to help. We have resources and tools available that take into account numerous variables to arrive at an accurate value. Get in touch today, and we will show you what goes into determining the optimal value for your home: (928) 916-1921.
How to Understand “Price Per Square Foot”
Price per square foot is a real estate concept that is easy to understand but equally easy to misuse. The formula is pretty simple: To determine the price per square foot, you take the house’s sale price and divide it by the house’s square footage.
Price per square foot is useful in looking at broad market comparisons, such as comparing one entire metro area to another or looking at an area’s average change over time. It is not, however, accurate in figuring out the value of your home.
Why? Unfortunately, the price per square foot fails to consider the most important factors when pricing a home.
First and foremost, it makes assumptions about the home’s amenities. We all know the quality of materials used in home construction and the condition of the home’s appliances and other features can dramatically impact a home’s value. A kitchen with Italian marble surfaces versus one with pressboard countertops will have completely different values. Price per square foot in a given neighborhood will blend these homes and produce an average.
Second, the price per square foot assumes locations are identical, but in almost any metro area, there are up-and-coming neighborhoods as well as neighborhoods in decline. Price per square foot near an abandoned industrial zone will vary considerably from one near a well-established downtown district with an excellent walkability score.
Third, even the simple calculation of price per square foot can influence how the total number of square feet has been calculated. If one has a garage converted into an in-law suite, and another home doesn’t, which square footage is valid? And what about the house or lot size? Sometimes above or below-grade lots can influence the price per square foot as well.
Compare Subdivisions
One of the things I love about technology is information. Our website offers Market Trends for each of our towns, as well as area subdivisions. The reports outline the number of properties for sale, new listings, days on the market, and average sale prices. Take time to click around and look at different areas; it is quite fascinating.
We also offer information about Price per Square Foot. For example, the average price per square foot in American Ranch in Prescott is $433, the average price per square foot in Forest Trails in Prescott is $352, and Prescott Ridge in Prescott Valley has a per square foot price is $606. (These are prices at the time of publication, click on each area to view the current numbers.)
Resources and Tools
Price per Square Foot helps compare areas, but when it comes time to set a value for your home, we have other tools to help you determine that number.
When valuing a home, we work hard to get an accurate value that considers dozens and dozens of factors. If you would like a real estimation of your home’s value in its current condition and location, we would be happy to help. We have resources and tools available that take into account numerous variables to arrive at an accurate value. Get in touch today, and we will show you what goes into determining the optimal value for your home: (928) 916-1921.
How Much Equity Does Your Home Have?
The dream of homeownership is about more than just a stable place to live, exempt from landlords’ whims and decisions. For many, homeownership is a piece of the wealth-building picture, essential to a future retirement or financial independence. The idea is pretty basic: You purchase a home and pay it down while hoping the home’s value increases over time. Generally speaking, this is what happens over time. As you go, you build what’s called “equity.”
What is Equity
Definition of Equity is “the market value of a homeowner’s unencumbered interest in their real property—that is, the sum of the home’s fair market value and the outstanding balance of all liens on the property.” If you were to sell your home and pay off the mortgage’s balance (and any other debts, such as home equity credit lines or liens), the cash you would have leftover is your equity. Your “equity position” changes over time due to a variety of factors.
As you’ve probably noted, your home equity position’s most significant variable is the home’s actual market value. A variety of factors can influence your home’s value, including the market demand for homes in your area, local amenities, schools, your home’s particular features, upgrades you’ve made, condition issues, plus quite a bit more. So how can you tell your equity position?
First, you need to know what you owe on your home. Finding the amount owed is as simple as checking your mortgage statement to see your principal balance. This number can differ slightly from your actual payoff amount due to closing dates, interest, and other issues determined during the sale. For this calculation, your principal balance is the number you need to know. If you have any other debt on the home, you need to add the value of this debt to the principal balance (this might include credit lines, liens, or second mortgages.)
Home Value
Next, you need to know the value of your home. Zillow and Trulia sites use “automated valuation models” to give you an approximate home value. These models are generally not very accurate when it comes to your home’s value as they exclude many crucial factors. Often, they come in quite a bit higher. They can, however, give you an idea of general changing trends in your market over time.
Hiring an appraiser is one way to determine your home’s value from a more bank-like perspective. While an actual sale may be above the appraisal, this thorough, conservative option is an excellent way to go. The downside? You may have to pay up to $500 for the assessment.
Knowing the correct value of your home is crucial when it comes to selling your home. Having a home priced correctly is one of the number one reasons homes sell fast. On the flip side, a home priced too high can cause the house to sit on the market too long. The right price is vital. Get in touch today if you want to learn more: (928) 916-1921.
