Buying Arizona Real estate

Buyer – You NEED exclusive representation!

The basic issue … in Arizona, the broker/agent you see named in any form of advertisement or promotion for a new or re-sale property is to some extent the representative of the Seller of that property. He/she has specific duties to the Seller and is legally limited in giving you advice as a Buyer. New … Continued

Closing Costs for Home Buyers

Buying a home, you likely anticipated needing a down payment and moving expenses, but you may not have considered the rather substantial fees and expenditures known as closing costs. Closing costs are explained below, as well as the ways and means of minimizing them, and possibly avoiding them all together. What Are Closing Costs? Closing … Continued

6 Steps to Buying a Home

As we say in numerous places, buying a home should be an exciting adventure … and fun. But it is easy to get frustrated and stressed during the process, especially when there are genuine time pressures involved. Presented below are the steps you need to take to empowered yourself with insight and knowledge of the … Continued

Arizona Real Estate Fundamental Change

As of February 1, 2017, the AAR (Arizona Association of Realtors®) implemented a substantial number of changes to the forms involved in most Arizona residential real estate transactions. One of the changes to the Purchase Contract -Feb2017 was rather fundamental. Pursuant to section 5a, the Premises are now being sold “… in its present physical condition … Continued

Arizona Home Sale Closing – Likely not what you think!

As defined in the Purchase Contract -Feb2017,  an Arizona home sale closing is a very specific and precise event. “Closing” is the moment of the recording of transaction documents at the County Recorder office where the property is located. An Arizona home sale transaction closing does NOT occur when the seller and/or buyer sign their … Continued

Metro-Phoenix Housing Market – Extremes Prevail

Metro-Phoenix Housing Market June 2015 to June 2016 appreciation range by by Zip Code … 22% to -4% (yes, that’s a minus sign) 22% – 85006 … very near downtown Phoenix, northeast -4% – Gold Canyon … 40+ miles east of downtown Phoenix Perhaps the extreme nature of the current market is best illustrated by … Continued

Credit Rating – Current scope too limited

What payment histories are considered in determining a credit rating? How many of the following do you think are included … Rent payments? Utility payments? Cell phone network payments? Consider this situation … we’ll use “Kelly” as the name of a hypothetical young man or woman who graduates college, having been able to do so … Continued

FREE MONEY!! AzHFA – Renters … Check this out!

Mr/Ms. Renter … You are likely paying more to rent than you would pay monthly to buy the equivalent home or condo!  In Maricopa County, i.e., metro-Phoenix, rents have increased that much, interest rates are still that low, and home prices are still reasonable. While low rates is good news, there’s even better news!  You may … Continued

Flipping Homes – Facelift to Teardown

Flipping Homes – buying properties to promptly resale at a profit. A rare idea just a couple of decades ago, is being attempted rather commonly these days. And with an extreme range of results – from spectacular success to equally spectacular failure. Is there an overall indicator of the likely success level that can be … Continued

Lies, Damned Lies, Statistics and Zestimates

Housing Market Stats

Let me be clear: the Zillow “Zestimate” home value estimates are as good as those from any other “automated valuation model” (AVM). Unfortunately, as will be evidenced below, all AVMs are unreliable predictors of the price buyers are likely to be willing to pay for a specific property because … (1) the data AVMs have … Continued