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Presenting The Premier Homes Team!
After 7 years as a solo agent and helping over 250 homeowners both buyers and sellers, I am branching out as with a real estate team! Business has been running at max capacity for the last few years and I’m always looking for ways to continue to expand, help more, educate more, but never let my service to my clients falter.
After much thought, discussion and sleepless nights, the decision was made to create a real estate team. It was a way to continue achieving goals, but provide this value to more people as well! My number one priority has always been providing stellar service to clients, because after a bad experience of purchasing a home personally, I have always promised myself I would never let my clients experience what I did.
My number one priority for my team members is to provide value to them, educate them in providing value to clients, and help them be the best REALTOR that they want to be. Just because I’ve been successful doesn’t mean they’re going to use the same ways or methods I did. If they don’t enjoy that aspect of the business I’m wanting to learn from them and what they enjoy doing. Then we can help create the plan for them to build their business and elevate them to their next levels of success.
Big things come to those who work hard. When opportunity isn’t knocking, build a door. Learn something new every day and don’t be afraid to ask questions.
-Trent
How to Dispute an Error on Your Credit History
Discovering an error on your credit history can be an unpleasant surprise when you’re attempting to get pre-approved for a mortgage. Though most people don’t think about the details of their credit report until the need to secure a loan, it’s an excellent idea to check your report for inaccuracies periodically. Checking your credit reports is easy to do. Each of the nationwide credit reporting companies, Equifax, Experian, and TransUnion, are required to provide you with a free copy of your credit report, at your request, once every 12 months.
What Happens When Your Find an Error?
If you discover an error on your credit report, the recommended way to attempt a correction is through a dispute letter. Dispute letters allow you to request the reporting agency to correct the error. Though it may take a little time to get the errors fixed, cleaning up these mistakes can have a direct (and favorable!) effect on your credit score. Higher credit scores help you secure lower interest rates and better terms on your mortgage.
Here’s what you’ll need to include for each mistake on your credit report that you find:
- Refer to which account has the error.
- Spell out precisely what is incorrect about the account and reference where it appears in the report.
- Outline the requested changes and explain why those changes are necessary.
- Include supporting evidence or documentation which will bolster your claim.
- Send the letter by certified mail with a return receipt requested so that you can document what the credit reporting company received.
For example: “In my report, the Chase Visa ending in XXXX shows my account is still active. I closed this account in 2012. Please market the account ‘closed’ on the report, not ‘active.’ Included is a letter from Chase bank, confirming the date of the account’s closure.”
It’s a good idea to keep copies of everything you send. Also, be sure to send the correction to all three major reporting agencies (Equifax, Experian, and TransUnion) as well as the original creditor (i.e., the credit card company, utility, etc.). You can find the current dispute mailing addresses on these company’s websites. Federal law mandates that agencies must help you within 30 days. Keep records of your disputes and when/how you communicated with the agencies.
An article by Experian offers insight on credit scores and disputes. Filing a request has no impact on your score. However, once your dispute is processed, that is where your credit score could change. Along with this, updating or changing information such as identification or address information will not affect your credit score.
Why Clean Your Credit
Having the cleanest credit report as possible will result in a higher credit score, which in turn increases your chances of getting pre-approved for a mortgage. A low credit score results in a much higher interest rate when you apply for a home loan. Besides, if you have a low credit score, you will be required to contribute a much larger down payment of cash.
When looking to be pre-approved for a mortgage, you first need to get your credit report as clean as possible, pay off as many debts as you can, and make on-time payments. One of the hands-on things you can do today is set up payment reminders and pay your bills on-time. Take these steps, then sit back and watch your credit score rise!
According to the law, negative credit information stays on your credit report for seven years. On the other hand, positive information can remain on your credit report indefinitely. That is why getting your credit in shape is a crucial step to take when you’re preparing to buy a home.
I help buyers prepare every day! Contact me today. I would love to help you buy your next home, (928) 916-1921.
Donʼt Make These 3 Home Buying Mistakes!
There are numerous rollercoasters in life, and buying a home can be one of them. But, when done correctly, the rollercoaster doesn’t need to be as big as California Screamin’, it can be more like the gentle curvy track at the carnival.
As a realtor, my goal is to save buyers and sellers pain and stress. When it comes to buying a home, there are myths about the home shopping experience that must be addressed. The tips below, plus several other tools that I have up my sleeve, will help you make a successful home purchase . . . one that won’t be a scary ride, instead it ends with a smooth transaction.
Myth #1: “That house has been on the market so long I bet we can easily work the seller down.”
Maybe, but not necessarily. Days on the market, also abbreviated as DOM, is the time between when a home is listed on the MLS and when it is sold or taken off of the market. In Prescott, in the Spring of 2020, a house was on the market for an average of 110 days. There were times in the past that the average days on the market was much lower, and times when it was higher. A home on the market for 100 days isn’t necessarily going to go for a ‘bargain’ just because of the days on the market. Exceptionally high days on the market could mean almost anything. One possibility, the seller could be unrealistic about their price. Alternatively, the seller may not be particularly motivated to sell for emotional or other personal reasons. This is when you need to rely on the experience and training of your realtor to negotiate on your behalf.
Myth #2: “I want to look at foreclosed homes because they’re a real bargain and the banks need to unload them.”
Unfortunately, there are several reasons a home may arrive in foreclosure. It could be a death in the family, illness, or divorce. Once the home is in the hands of the banks, the rules of negotiation change. Banks, like entrenched sellers, don’t always make rational. You can have a hard time determining the reason a bank chooses to reject an offer for a foreclosed or distressed property. Rejection may be based on financials which seem counterintuitive. The truth is, many distressed sale transactions can be longer and more stressful than regular sales. If you are looking for a bargain or a fixer upper, contact me and I can set up a personalized search that will alert you when inventory meeting your criteria becomes available.
Myth #3: “I liked this house a lot, but with this market, I bet it will still be there if I decide to buy it.”
It is incredibly painful to see a client fall in love with a home, but fail to make a move to purchase that home. If you fell in love with it, it is highly likely that someone else will fall in love with it as well. Just because a property has been on the market a little while doesn’t mean it will stay on the market. Ask yourself, if you don’t make an offer on a home, are you comfortable losing this home?
My job as an agent is to represent your interests and do my best to protect you along the way. If you’re pursuing a home purchase in the near future, please contact me today at (928) 916-1921. There are many other ways I can lower your stress and help you find a great home.
What are the Quad-Cities?
The Prescott Area is a diverse area that offers a variety of housing options. You will often hear the Prescott Area referred to as the Quad-Cities. But what are the Quad cities?
The Quad-Cities are made up of Prescott, Prescott Valley, Chino Valley, and Dewey-Humboldt. The Quad-Cities have approximately 105,000 people and are located in northern Arizona. To help you out, here is a little information on each of the towns in the Prescott Quad City area.
Chino Valley, Arizona
Chino Valley, Arizona, offers a rural lifestyle with shopping, dining and entertainment just 15 miles away in Prescott or Prescott Valley. Approximately 10,000 people live in the 63 square mile town of Chino Valley. Chino is conveniently located 35 miles south of Interstate 40 and the town of Ash Fork, making commuting a breeze. Families can enjoy ball fields, skate park, and horseback riding trails. There are four schools operated by the Town of Chino Valley: Del Rio Elementary, Territorial Elementary, Heritage Middle school, and Chino Valley High School.
Dewey-Humboldt, Arizona
Dewey-Humboldt, Arizona, is known as “Arizona’s Country Town”. It is a rural area with a spread out feel. With a population of just under 4,000 people, residents enjoy the small-town feel, but have shopping, dining, and entertainment only a few miles away in Prescott Valley. The Prescott Country Club and Golf Course, the 55+ Villages at Lynx Creek, and the Quailwood subdivision are popular housing communities in Dewey-Humboldt. They offer a perfect setting for retirement or a quiet place to raise a family.
Prescott, Arizona
Prescott, Arizona, located in Yavapai County, is a breathtaking town filled with beauty and charming history. This friendly town sits at an elevation of 5,400 feet with approximately 43,000 people calling it home. Prescott was officially named “Arizona’s Christmas City” by Governor Rose Mofford. Most people refer to Prescott as “Everybody’s Hometown”.
Prescott Valley, Arizona
Prescott Valley, Arizona, is a thriving town just a few minutes east of historic Prescott. Prescott Valley was the seventh fastest-growing place among all cities and towns in Arizona between 1990 and 2000 and has approximately 42,000 people calling it home. Located at an elevation of 5,000 feet, many retirees live in Prescott Valley due to the relatively inexpensive housing and the mild climate. Prescott Valley has a large retail center, an indoor Event Center, and Yavapai Regional Medical Center Hospital. The mild climate, convenient location of 85 miles north of Phoenix, and surrounding lakes, fishing, and hiking trails make Prescott Valley an attractive location for families and retirees.
If you would like information on what each of our towns have to offer, I would love to help. Give me a call at: (928) 916-1921.
Updating Your Bedroom Before You List
Everyone can argue what room in the home is the most important. While the kitchen and living room are largely important, the bedroom also ranks high in importance. When buyers are touring a home, they will envision themselves living there, and a stale bedroom with outdated style can be a deal-breaker. Instead of scaring off potential buyers, use these tips to update and freshen up your bedroom’s stale design to create a relaxing calming space.
Fresh Paint: Remove Outdated Wallpaper
A fresh coat of paint is a huge step in updating your bedroom. Does your bedroom have a paint color that could be off-putting to buyers? Is there outdated wallpaper? Remove that wallpaper, or off-putting color, and choose a neutral color to create a relaxing space. Light gray or blue are often recommended colors. If there is wallpaper involved, don’t be afraid of the wallpaper removal process, here are tips by HGTV for wall paper removal.
Bedding
Make your bed look as comfortable as possible! Puff it up and make it cozy, or, consider purchasing a fancy comforter. Create an inviting place they will want relax in. Ballard designs presents multiple possibilities to arrange your pillows to ‘cozy up’ your bedroom.
Mirrors
Mirrors can offer reflected light to make a bedroom look bigger, however, too many mirrors can create a fun house environment. Find a balance, don’t go overboard, but instead, one or two mirrors strategically placed can create a larger looking bedroom.
Remove Popcorn Ceilings
Popcorn ceilings can date a room. Popcorn ceilings catch dust easily, are difficult to clean, and hard to repair. Removing your popcorn ceilings will instantly modernize your bedroom. This Old House offers three popular options for removal, include scraping, covering with a new layer of drywall, or skim coating with plaster to create a new texture.
Light & Windows
Lighting is essential, but make sure it’s the right kind of light. Don’t create a dim dark space, and don’t utilze fluorescent lighting. Instead, take advantage of natural light, lamp light, and low light. Clean the windows to receive the most natural light. Along with this, choose light bulbs with warmer tones.
Remove Frills
Excessive frills can scream “Outdated!” Check those bed skirts, window dressings, and curtains. Toning down the frills will bring your outdated look up to date.
Declutter
Lastly, but most importantly, declutter. Remove distracting knick-knacks off nightstands, organize the closet, and store away roughly 2/3 of your belongings. Consider using the Kon Mari Method to remove the clutter from your life.
These steps will freshen up that room and take it to the next level! If you need someone to evaluate your interior appeal, I would be happy to share my thoughts and guide you towards maximizing your home’s appeal!
How Property Taxes Can Impact Your Mortgage Payment
When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?
When applying for a mortgage, you’ll see one of two acronyms in your paperwork, P&I or PITI, depending on if you are including your taxes in your mortgage payment.
P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance. Taxes and Insurance can be included in your payment, although, sometimes you can elect to pay those items directly. Either way, they are all important factors to calculate when you want to determine exactly what the cost of your new home will be.
According to TaxRates.org, property taxes are:
“A municipal tax levied by counties, cities, or special tax districts on most types of real estate – including homes, businesses, and parcels of land. The amount of property tax owed depends on the appraised fair market value of the property, as determined by the property tax assessor.”
Yavapai County Tax
We are fortunate in Yavapai County to have a user-friendly on-line system to be able to look up the property taxes for individual properties. If you are considering a house, and want to look up the amount of past property tax, simply enter the property address on the Yavapai County Interactive Map. http://gis.yavapai.us/v4/ Once you have the address displayed, you can select ‘Taxes’ from the right-hand column and view the taxes for the past 5 years. The Yavapai GIS System also displays assessed values and the amount of previous sales.
A map from Taxrates.org that shows the annual property taxes by state (including the District of Columbia), from lowest to highest, as a percentage of median home value. According to SmartAsset.com, the average Yavapai County tax rate is 0.616%. That means that a home in Yavapai County that has a $250,000 assessed value, would have approximately $1,540 in annual property tax.
The top 5 states with the highest median property taxes are
- New Jersey (1.89%)
- New Hampshire (1.86%)
- Texas (1.81%)
- Nebraska (1.76%)
- Wisconsin (1.76%)
The states with the lowest median property taxes are
- Louisiana (.18%)
- Hawaii (.26%)
- Alabama (.33%)
- Delaware (.43%)
- District of Columbia (.46%)
Bottom Line
When you are considering a home, it is helpful to note that as payments are made, the P & I portion of your loan will decrease over time. The amount of your Insurance premium and Property Taxes will not. Paying attention to the amount of taxes is good due diligence to make sure you know what financial obligations lie ahead.
If you are ready to take the next step and run some numbers on your next home, give me a call at (928) 916-1921. I would be happy to walk you through the process and help you understand the big picture of buying a home.
Trent Beaver
(928) 916-1921
Homeowners Are Happy! Renters? Not So Much.
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits of homeownership might be even more valuable.
In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed:
- More than 80% said they wouldn’t go back to renting
- 88% agreed that buying a home is the “best decision they have ever made”
- 79% believed owning a home has changed them for the better
Those surveyed talked about the “emotional equity” that is built through homeownership. The study says more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeownership enhances quality of life:
- 67% of current homeowners believed their relationships with family and loved ones have changed for the better since they bought a home
- 78% are satisfied with the quality of their social life
- 82% of homeowners said they were satisfied with the amount of time they spend on their hobbies and passions since purchasing a home
- 75% of homeowners pursued new hobbies after buying a home
Homeowners seem to be very happy.
Renters Tell a Different Story…
According to the latest Zillow Housing Aspirations Report, 45% of renters regret renting rather than buying — more than five times the share of homeowners (8%) who regret buying instead of renting. Here are the four major reasons people regret renting, according to the report:
- 52% regret not being able to build equity
- 52% regret not being able to customize or improve their rentals
- 50% regret that the rent is so high
- 49% regret that they lack private outdoor space
These two studies prove that renting is just not the same as owning.
Save for Down Payment
It is understandable, one of the hurdles to becoming a homeowner is saving for the down payment. Below are a few tips on ways to save your down payment and start the journey to home ownership.
Find out where your money goes. For a month or two, track each expenditure, no matter how small. Get an objective picture of where you’re spending the cash.
Get specific about how much you need to save. Even if you’re not 100% sure what your down payment needs to be yet, it’s good to start doing a little math to figure out how much you need to save. Pick a dollar amount and a timeline to hit that dollar amount.
Determine the big moves you can make. If you’re in a three-bedroom apartment and can stomach the idea of scaling down to a one bedroom, how much would you save in rent? What about going from two cars down to one? If you can make it work, these sacrifices will have a huge impact on your savings goals.
Setup a separate savings account. Don’t let your dream home money mingle with your regular checking or savings account. Establish a high-yield savings account with a credit union or money market account to protect and build your stash.
Pretend you already have a house payment. Once you determine the approximate amount of what a new house payment would be, start making that payment now. Instead of paying the bank, pay your savings account. This trick is two-fold. It will help you accumulate a down-payment faster, and it will ensure that you are able to afford the amount of the new house payment.
Bottom Line
There are both financial and non-financial benefits to homeownership. As good as the “financial equity” is, it doesn’t compare to the “emotional equity” gained through owning your own home. I would be happy to talk with you about the process to becoming a home owner. Contact me today: (928) 916-1921.
Trent Beaver
(928) 916-1921
Tips for Adding a Bathroom to Your Home
Have you been living with a single-bathroom home? Is the time here to consider adding an extra full-bathroom or “water closet” to your existing layout? First, know that of all the renovations you can make to a single-bathroom home, adding an extra bathroom is one of the soundest investments you can make. With rare exception, the money you put into a second bathroom should pay handsomely when you list your house in the future. The bathroom is one of the most-used rooms in your home and it can have a profound impact on how prospective buyers see your home in the future. If you’ve been curious about the process or want to make the leap to a two-bathroom home without relocating, you’ll want to keep some tips in mind about this special renovation project.
- Think about where you can add a bathroom versus where you think it’s ideal. You’ll want to identify where your existing water and waste lines are in the home. Adding a bathroom across the house ups the complexity and expense.
- Single-story homes with crawl spaces have a bit more flexibility for adding a bathroom since crawl spaces provide easy access for running plumbing lines. If you have a two-story house, aligning your new bathroom (either upstairs or down) with your existing one can ease plumbing challenges.
- Adding a tub can add value, especially if you suspect future buyers might have children.
- Natural light and ventilation are a big plus. While fans are common and should be installed, being able to draw in sunlight or air out a bathroom via an exterior wall can really upgrade the luxury feel.
- Choose high-end design fixtures where possible, especially if the bathroom is small. Innovative luxury options can make the room feel larger and really add that “wow” factor. Consider separating the toilet from the rest of the room via a “water closet” partitioning. Go with neutral palettes and classic tiles for a timeless effect. You can always jazz up the space with rugs, towels, or other bath accessories.
As mentioned, if you are looking at listing your home, money put into an additional bathroom is a smart investment. Reported in Remodeling Magazine in 2017, a bathroom costing roughly $43,000, boosted a home’s value by nearly $23,000. This gives you more than a 53% return on your investment. While not everyone has that renovation budget, that is okay! Any investment in your bathroom can help boost your home’s value.
If adding a bathroom sounds like more hassle than it’s worth, you might want to consider your next move! I’d be happy to help you find a home with your dream bathroom already included! Contact me at today: (928) 916-1921.
Personal Touches Help Win in Multiple Offer Situations
If you’re home hunting in a competitive market, you’ve probably had the heartbreaking experience of losing out on a place you thought you would make your own. It can be frustrating and demoralizing to find out your offer was rejected in favor of another buyer. How can you do your best to make sure it doesn’t happen again?
When a seller entertains multiple offers, it’s important to understand that many different factors are in play. If you’re an all-cash buyer you tend to have an advantage, as potential financing roadblocks are taken off the table. But if you’re like most people, paying cash for a house simply isn’t an option. What then?
First and foremost, make sure you have 100% of your financial house in order. This means pre-qualification for a mortgage as well as proof of funds. Being organized and ready to go will help give you a small edge from the start. Also, be sure you work with an agent who is highly responsive to requests. Sellers don’t need to wait around for information when multiple offers are landing in their inbox.
Beyond these factors, there’s another way to boost your offer’s profile: Personalize it.
While most sellers want to go with someone who will pay the most for their home, you should never discount the emotional dynamic to the home selling and buying experience. Though sellers are ready to move on, they often want to feel as though their home is going to someone who genuinely appreciates it and needs it.
Work with your agent to craft a personal letter as to why you love the seller’s home. What features do you love? How will this home help you personally, professionally, or with your family needs? Include a photo of yourself and/or your family. Putting a human face on the offer can transform your offer from one more name in a pile of numbers into a genuine person worthy of living in the seller’s home. Have pets and kids? Bring them into the picture!
Tips to Keep in Mind While Writing Your Letter
Build a Connection: Look for a connection that you and the seller share. This could be being in the same line of work or noticing a hunting sign. Build on that connection.
Keep it Short: Don’t write a novel, share your point, build a connection, and add a few reasons why you’re are the best buyer.
Leave Out Remodeling Plans: If you plan on remodeling, be mindful of the seller’s protectiveness over their home. While they are selling their house, they still have emotional attachments to different areas of their home. They may not be fond of knowing that you are wanting to destroy parts of it.
Have your agent personally deliver the offer. A lot of offers are going to be electronically transferred, dumped into a crowded email inbox. While an electronic offer can be convenient, delivering a beautifully prepared package complete with the personalized letter and picture can makes an impact on the seller.
I will go the extra mile in helping you attain your dream home. Contact me at today: (928) 916-1921.
Boosting Your Home’s Value on a Budget
Want to boost your home’s value, but don’t have the budget for a big renovation? Don’t worry, there are a multitude of home improvements that can be done without having a big budget.
However, when making your home improvements, it is vital to ask yourself, “Will the money I invest be recouped in the sale of the home?” The best renovations not only cover their costs, but they will boost your home’s value and provide you with a nice return. The key, of course, is identifying home improvements which will deliver the biggest return for the smallest investment.
Here are renovation projects that are both easy and inexpensive ways to dial up your home’s appeal and value:
Paint the front door: You might not have the budget for full exterior paint job, and that is okay, but have you looked at your front door lately? It’s a focal point from the street and if it’s looking weathered, updating it with a fresh coat of semi-gloss paint will improve its appearance and will impact your curb appeal. If you have more room in your budget, consider replacing the door entirely.
Paint the foyer/entry way: Interior paint is an obvious improvement, but you don’t have to make it an all-or-none proposition. Where do people enter your home? Like the front door, your point of entry is the first impression of the inside of your home. Refresh the point of entry of your home and make it look brand new.
Change light fixtures and switch plates: You probably don’t even notice your light fixtures anymore, but buyers will. Swapping out the fixtures and modernizing the look goes a long way. Same goes for switch plates, replace the old (and possibly dirty) with fresh new stylish ones.
Upgrade kitchen and bath fixtures: Do you need a new sink, or do you just need a fresh faucet? It’s amazing how much a deluxe kitchen faucet upgrade can change perceptions of a kitchen. Same goes for the bathrooms: Faucets and even a new toilet can do wonders. Along with this, a detail that often gets overlooked is door knobs. Replace old doorknobs on kitchen cabinets, or anywhere around your home.
Garden upgrades: Fresh borders on your flower gardens, new flowers, and fresh mulch are all small touches which refresh a home’s exterior. Remember that simple lawn maintenance can pay off in the end. It is believed that “the cost of maintaining your lawn is only about $330. In exchange, you can recover a value of 303% or $1,000 from this basic fix, according to the National Association of Realtors” (CheatSheet).
Clean Carpets: Having your carpets professionally cleaned in an inexpensive investment to quickly update your home and make it feel cleaner. It is often suggested not to replace wall-to-wall carpeting before you sell your home because homeowners like choosing their own carpeting. Therefore, cleaning is the best option to create a clean feeling environment.
Want a second pair of eyes to advise you on your remodeling, big or small? I am happy to help you make a checklist to prepare your home for sale. Contact me at today: (928) 916-1921.
Trent Beaver
(928) 916-1921
