North Scottsdale Real Estate Agent

Being a Realtor with Coldwell Banker Residential Brokerage and after viewing so many homes with many clients, remodeling your home may be of paramount importance. In and out of so many homes, people seem to want the newer, more modern style.

Many homes in the Scottsdale, Arizona area are getting older and there is hardly any land left to build new homes. There is plenty of land in Arizona to build new homes, but most of the building is going up on the outskirts of Phoenix in cities such as Surprise, Queen Creek, Casa Grande, and Anthem.

The people that want to buy in Scottsdale are not going to be able to buy a brand new home unless they knock the home down with a bulldozer and start from scratch. If you are a home owner, here are some suggestions that may help increase your re-sale-ability. Granite counter tops in the kitchen would probably be your number one. Try to make sure that the granite you pick out compliments the paint in the kitchen. If the paint in the kitchen is out-dated, you may want to consider re-painting the kitchen, and doing granite counter tops.

When discussing flooring, it seems every one prefers tile over any other type of flooring. Tile in the bathrooms and kitchen would be a great place to start. The really big twenty four inch tile is more popular than small tile. When thinking about doing tile in your home, ask a professional tile expert about which tile would look best. There are so many minor cosmetic things a home owner can do to make the property look more desirable.

So many homes appearances are absolutely destroyed by paint issues. People get bored, or they think they are professional painters, and decide to paint a room bright purple, or pink, or green. There is no problem with painting a room a color you like, but if you decide to sell the home, have all the walls re-painted back to the original colors of the home. Paint is such a cosmetic item, and such an easy fix. If possible, try to have the entire house one color such as white or light beige. It may not be a good idea to have dramatic colors through out the home. Your taste in style is probably not the same as the people that are coming to view your home that may possibly purchase your home.

Light fixtures are a relatively easy fix. Out dated or old light fixtures can be easily replaced, and are relatively cheap. Old corroded faucets in the kitchen and bathrooms is also a relatively easy fix, and not too expensive. Electrical outlet covers, probably the easiest of all, can be replaced extremely easily. If they are cracked or missing, take the extra time to replace them.

When someone purchases a home in Arizona, ninety nine percent of the time they are going to do an inspection on your home. When the buyer does an inspection on your home, their inspector is going to notice every small detail. Many reports include problems such as slow draining sinks and bath tubs, electrical outlet covers cracked or missing, light bulbs out, doors do not open and shut properly, cracked tiles on roof and many other minor issues. The fewer things an inspector puts on a report, the better that is for the seller.

Major remodeling projects might include adding a pool, or a basketball court, or a putting green, or even a playground type structure for the kids. A pool would be an extremely lovely upgrade for a home in Arizona with out a pool. It is so hot in Arizona, and homes with pools are not as common as one would think.

Unfortunately, no guarantees can be made that any of the above mentioned items will increase your property value, or guarantee that your home will sell. There are never guarantees when discussing Real Estate. The above mentioned items may or may not help when selling your home. Do not attempt any of the above projects without consulting with a licensed, insured, trained professional first.

The Real Estate market is forever changing. Factors beyond our control has a tremendous affect on the United States Real Estate market. It is impossible to forecast market conditions, but it is imperative to know where we are today by looking at recent events to make an informed decision about buying or selling Real Estate in Arizona.

Right now in Arizona, it is becoming harder and harder to get a loan for a few different reasons. Many banks in Arizona have gone out of business because of an extremely high foreclosure rate. The reason many banks went out of business is because these banks home buyer approval standards were too low. When something like this happens, the other banks that are still in business begin to tighten up their home buyer approval standards. The banks now are requiring more documentation on buyers, and raising the bar when discussing getting approved for a home loan. Banks are going to want buyers that have higher credit scores, make more money, and have a very good work history.

About a year ago, the Arizona market was booming, it was nearly impossible to get a home without competing with four or five other buyers for the same home. Out of state investors were coming in and buying up a lot of Real Estate in Arizona because the interest rates were at a nearly all time low, and home prices were affordable. Investors drove the home prices up to a point where it became un-affordable to low and average income families. Home builders in Arizona decided to start building massive communities to feed the investor frenzy. The prices topped out, and began to fall. On top of this fall, the interest rates started to climb. Now, in many areas of Arizona, builders are stuck with homes that are built with no one to buy them. Residential re-sale sellers are having the same problem. Who would buy a home in Arizona when home values are dropping, and interest rates are climbing?

Over the last few months, prices have continued to drop. Sellers and builders are giving buyers incredible incentives to buy. A few weeks ago in the United States, Wall Street took a big hit because of foreign market fluctuations. There was a huge loss on Wall Street and worried many that the United States may be facing another recession. The United State economy thankfully started to bounce back after the big loss. What does this mean for the consumer?

When Wall Street takes a hit, and the United States economy indicates a possible recession, they drop the interest rates to stimulate the market. The interest rates at this point in time are actually very good. Many sellers in Arizona right now are re-financing, and many buyers are beginning to buy because the prices have dropped to a point were the average person can afford a home. When the prices start to level out, and the interest rates drop, it may be an extremely good time to buy in Arizona right now. If you have a high interest rate and you are a home owner, now is a great time to re-finance your home. It is not the best time to sell right now, but not impossible. The home just needs to be priced correctly. The days buying a home one month, and selling the home a month later for a forty thousand dollar profit are gone, for now. So if you are selling, you home needs to be in the top one or two in the neighborhood when talking about price per square foot.

A title company plays a tremendous role in Real Estate transactions in Arizona when discussing buying or selling property. They are the ones in charge of all of the monies handled between the buyer, seller, Brokers, and Realtors. They are in charge of transferring the title of a home from one party to another. Title companies are the ones who put the property in your name.

A Realtors first step after getting an excepted contract in Arizona is to open escrow with the title company. The buyer and seller agree in the purchase contract who the title company is going to be. Once this is determined, it is usually the buyers Realtor who opens escrow because the buyer is the one putting up earnest money to be lost in case the contract is breached.

Opening escrow means, delivering an excepted purchase contract with the buyers earnest money to the title company. Once this is done, escrow is opened, and that is the beginning of the purchase contract.

Title companies in Arizona are the ones who receive the money from the buyer or the buyers lender to give to the seller and/or payoff the sellers lender. The seller must provide who their current mortgage is through so that the title company can pay off the balance of your loan. After the loan is paid off, and the closing costs, the seller gets what is left over which is called the sellers proceeds. However, if a the person selling has no mortgage there is nothing to pay off except closing costs.

There is paperwork that the buyer and the seller need to sign in order to successfully complete a Real Estate purchase contract. The title company organizes the paper work in an orderly fashion, and has both the buyer and the seller come to the office to sign. Once all paper work is signed by both parties, the title company delivers the paperwork to the bank that is funding the loan. The bank which the buyers lender obtained a loan for the buyer, wires the money to the title company. This is when all monies are dispersed to the appropriate party. The title company gets the money from the lender, then delivers the money to pay the Realtors, the Loan Officers (if applicable), the seller, and any other party that requires compensation for being a part of the sale. Of course, the title company takes a cut. Usually the closing costs are split between the buyer and seller depending on the terms of the contract.

A title company is the battery of the operation, the hub. With out their organization there would be too much confusion. If you do not know a good title company to use when purchasing or selling Real Estate in Arizona, please ask a qualified professional Realtor to suggest one. The title company deals with every person involved in the transaction. It is important that a title company has organization, and great communication skills. A good title company will notify the appropriate party when something may be wrong so that it may be fixed by the right person.

It is important to develop a relationship with a good title company. Once a relationship is built, you begin to know how each works, making the job a little easier. You will know the title companies phone numbers, names, fax numbers, and e-mail addresses by heart. If you are always using a different title company, it is a new set of information to learn.

There are several steps to take when purchasing a home in Arizona. This check list, coming from an Executive Sales Associate with Coldwell Banker Residential Brokerage in Arizona, will help any person thinking about buying a home in the valley of the sun.

Your first step when purchasing a home in Arizona is to make sure to find a Real Estate Professional that is aggressive, knowledgeable, and educated. There is no requirements necessary when talking about education to become a Realtor. Anyone can become a Realtor as long as very basic guidelines are met. Would you rather have a high school drop out represent you, or a Realtor with a college degree? Ask your Realtor how much experience they have, ask to see diplomas, or even go as far as asking for letters of recommendation so that you can have physical proof that you are putting the biggest investment of your life into the right hands.

After you have chosen and trust your Realtor, your next step is to get pre-qualified for a loan. This is a very simple process. A lender of your choice or a lender that your Realtor recommends will ask you a series of questions which only takes about 10 minutes to make sure you are qualified to purchase a home. Lenders want to know your job history, your credit score, your income, and how much debt you have. As long as you have a good work history, a descent income, and your debt to income ratio’s are in good standing, you should have no problem qualifying for a home loan. If you already know a lender that you want to use Realtors are not encouraged to try and steer you away from the lender you know and trust. It would be a good idea to make sure you are getting the best deal possible. To get the very best deal possible you must talk to more than one loan officer. Loan officers make more money if they give you a higher interest rate because the bank that is funding the loan will pay the loan officer more money. The higher the interest rate, the more money that bank makes, and the more money the loan officer makes. Many loan officers are willing to make less money by giving you a better interest rate. Some lenders will even make no money on the back end of the loan and only charge a one time up front fee which is usually one percent of the loan. Try to get a lender that will not charge you on the back end of the loan because it will cost you thousands of dollars more over a period of time.

Once you have chosen a Realtor that you trust, and have a lender you can trust, you next step is to find your home. Many different factors play into what type of home a person will choose. For many families, school districts are important. For others, location or type of home. Real Estate agents are not allowed to tell you what areas they think you should live in. You have to tell them what area you want to live in, or what school district, or what city, and they will help you find a home from this point forward. Tell your Realtor what is important to you such as a fireplace, a pool, an all tile roof, what year the home was built, how many bedrooms, bathrooms, or anything else that may be of importance to you.

After you have told your Realtor what you want, your Realtor will show you what is available in the areas you requested. At that point everyone hops in the car and goes to look at the homes you want to see. It is usually best to look at home on Saturday and Sunday because the traffic is light, and it makes it less hectic for the home owner.

Now, you have found the house you want to purchase after looking at thirty homes. You love this house and don’t want to lose it. Depending on the market conditions will determine the aggressiveness of the contract. When writing a purchase contract for a home, it is important to know how many days the home has been on the market, how much the owner of the home is going to make on the sale, and how long the owner has lived in the home. If the home has been on the market for two years, it would probably be a good idea to offer a very low price. If the home has been on the market for one day, and there were 20 people in line to see the home the day it came on the market, you may want to consider offering over list price. The sticker price is rarely the purchase price.

Depending on the home buyers financial position will determine the terms of the contract. Right now in Arizona as of 2/27/2007, it is extremely common for people to get into homes with zero down because the seller will usually pay for all of the buyers closing costs. In the purchase contract just ask the seller to pay for all of the buyers closing costs. Depending on the price of the home and the type of loan the buyer is acquiring will determine the buyers closing costs. After the buyer and seller have agreed on all terms, price, and conditions we open escrow with the title company of your choice. If you do not know of any title companies your Realtor will probably suggest one. It is now time to move into the due diligence period.

Due diligence is a fancy work for an inspection period. It is very important to get an inspection done on the home so you know what is wrong with the house. Every single house usually has a list of very minor problems. Every once in a while you will run into a major problem that will affect your decision to buy the home. You may back out of the contract at any time if you find a major problem with the home during the inspection period. After the inspection period is over, it is harder to get out of the contract. Once the seller and buyer have agreed on the terms regarding what is to be fixed and what will not be fixed, it would be a good time to start thinking about home owners insurance.

Just like finding a good lender, you want to find a good home owners insurance agent. You want to talk with several, not just one, for the same reason you want to shop a lenders rates. Talk with several insurance agents to make sure you are getting the best rate with the best coverage. Cheaper does not always mean better, however, you may be able to get the same exact coverage for cheaper if you find out what is available. If you don’t know many insurance agents, your Realtor should be able to recommend a few.

Now you have a good Realtor, a good lender, a good title company, a good home inspector / termite inspector, and a good insurance agent at this point. All you really have to do at this point is to make sure you get everything your lender needs to process your loan such as bank statements, tax records and pay stubs. Depending on the type of loan you are getting will determine the type of paperwork the lender will need from you, it seems to be always different for each buyer.

At the end of the buying process, the lender will deliver the funds to the title company, the buyer and seller need to sign all documents, and all the monies are dispersed to the appropriate parties from the lenders funds.

It is now time to move into your new home. Once the title company records the deed in your name, you can move in right away. Many people move into their home using a truck and their families help, and others hire help.

The first step when selling your home in Arizona is to contact a knowledgeable Realtor to help you get your home on the market. It is important to choose a Realtor with experience, aggressiveness, ambition, and willingness to spend time on your best interests.

Once you have found an agent, your second step is to meet with the agent at your home, or at a place most convenient for the person selling their home. In Arizona, there is an average of about 30 pages of paper work, depending on the broker, that needs to be filled out and signed by the seller If you have a good agent, most of the paperwork will be already completed when you first meet your Realtor. However, some information must be filled out by the seller.

After all the paperwork has been signed by the seller, which usually takes about an hour, the Realtor should take pictures of the home for marketing purposes which is the third step. It is important to take pictures of the nicest parts of the home because these pictures will be featured in several marketing programs.

After the Realtor leaves your home with the signed paperwork, and pictures of the home, the fourth step is to insert the information that the seller signed and pictures into the Arizona MLS. This is the main marketing source. The Arizona MLS is where all Realtors can view all the homes for sale in Arizona. It is important to have the most attractive listing possible in the MLS to give your sellers maximum exposure.

The fifth step is to order a sign up in the yard, and initiate all marketing programs. Marketing programs vary from brokerage to brokerage. Arizona Coldwell Banker Residential Brokerage will put your home in the Arizona MLS, put a sign up in your yard with an info tube and sign riders, email marketing, submit your listing to the Southwest Living Magazines, send out mailers to all of your neighbors, and put your home on several national websites to make sure your home gets maximum exposure.

After the home has been implemented into all marketing programs, make sure your Realtor holds open houses. This gives your property additional exposure. If your Realtor does not hold open houses, that is a sign that they are not willing to put in the extra effort. However, some Realtors have more than one client so they have to rotate their clients as best they can. Every once in a while Realtors may want to take a Sunday off here and there.

If all of the things mentioned above are completed, you are getting some of the best exposure a client can get. At this point, the seller just needs to sit back and wait for a contract to come in which the their Realtor will present once received.

The first step when purchasing a home in Arizona is to get pre-qualified for a loan. This is an extremely simple process that only take one phone call to your lender If you do not have a lender, Arizona Coldwell Banker Residential Brokerage can recommend a good lender. During your pre-qualification process, you find out how much your payments will be if you borrow “X” dollars. For example, If you want to buy a three hundred thousand dollar house, put down twenty thousand, and finance two hundred and eighty thousand, you will want to know what your payments will be if you finance this amount. This process determines what your price range will be when searching for a home.

The second step is to find a home you like. Once you find a home in your desired location, your Realtor will help you submit an offer to the seller. The seller can accept, reject, or counter offer. Depending on the sellers response will determine the next step. There is never a formal agreement between the parties until both parties have agreed on the terms and conditions of the contract. Once there is a formal agreement, escrow is opened.

The third step is to conduct inspections which your Realtor will help you with. You hired professional inspectors to make sure the home is in good standings. In every case, there is always something wrong with every house. Even if the home in brand spanking new built in 2007, there will be something wrong. Very rarely will you ever come across a perfect inspection with nothing wrong. Once you find out what is wrong with the house you ask the seller to fix X, Y, and Z. The buyer and the seller most come to terms again. It is a contract within a contract. Once the seller and buyer have agreed on what is to be fixed, the seller makes the repairs and the buyer conducts a final walk through at the end of escrow to make sure all repairs were made.

Step four is to work with your lender to make sure he has everything he or she needs to get your loan done such as pay stubs, W2’s, and bank statements just to name a few items.

Step Five is to conduct a final walk through to make sure the home is in the condition it was in when the contract was first written.

The sixth step is to go to the title company to sign your final documents. Once the funds have been delivered from your lender, all monies are in order, and deed has been recorded in the buyers name, you can receive your keys and start moving in!

All Arizona Real Estate deals are like a fingerprint, no two are alike.

If you have been thinking about buying or selling property in Paradise Valley, Arizona you will definitely want to read this article. The single most important factor when thinking about buying or selling a home in Paradise Valley, Arizona is to obtain a Realtor that knows the area, knows the contracts, and knows how to service your needs. At any time you may click on the link below this article to contact a professional Realtor that will answer all of your questions in person, on the phone, or via email. After reading this article, you will know what to do and what not to do when buying property in Paradise Valley.

When purchasing a home, your first step is to get pre-qualified for a loan. To get pre-qualified for a loan you need to speak with a lender. If you already have a lender, great! If not, then your Realtor should be able to recommend one to you. Your lender is going to ask you a series of questions. How much money are you putting down? How much money do you make a year? How much debt do you have? What your lender is trying to find out is how much you can afford towards a monthly mortgage payment. They are going to ask you for pay check stubs, bank statements, and possibly other documentation depending on your situation. After you are pre-qualified for a loan you will know how much money you are putting down if any, how much your payments are going to be, and what type of loan program you are going to be in. There are several to chose from so it is important that you communicate with your lender about your financial needs. Do not pick the first lender you meet. Shop your lenders because each lender has different programs, different rates, and different company policies. This alone can save you thousands of dollars.

After you are pre-qualified for your loan, it is now time to start shopping for the home of your dreams. You need to tell your Realtor what is important to you. Do you want a pool? Is square footage important? How many bedrooms and bathrooms are you looking for? Is school district important? Is the city you live in important? How far from work are you going to want to be? After you have told your Realtor exactly what you are looking for, a search will be conducted on your behalf to find the home you are looking for. Once you see the results of the search, your Realtor will drive you around to all the homes you want to view in person.

Finally, you found the home of your dreams. It is now time to write an offer to the seller with your Realtor. Your Realtor will quarter back the entire process for you. Once you write the offer, the Realtor will deliver it to the selling agent. The selling agent will review the offer with the seller. They will either accept the offer, reject the offer, or counter offer. After the seller and the buyer have come to an agreement and all the contracts have been signed by both parties, escrow is now opened.

The length of the contract will be decided by the buyer and the seller in the initial offer. A standard contract lasts about thirty days, but some contracts last up to ninety days depending on the needs of the buyer and seller. The very first thing that happens after escrow is opened is the inspection period for the buyer. The buyer is allotted a certain amount of time to conduct a thorough inspection of the property. It is a very good idea to hire a professional inspector when buying a home. Your Realtor should be able to recommend a good home inspector to you. Your inspector will check the plumbing, the electric, the roof, the over all quality of the property, and then hand you a report.

After the buyer obtains the home inspection report, the buyer will ask the seller to fix certain items that were found in unacceptable condition. The buying Realtor will deliver this list of items to the selling Realtor for the seller to review. It is another little contract within a the main contract. The seller and the buyer need to come up with another agreement on what is to be fixed and what is not to be fixed. If they can not come up with an agreement the buyer has the right to back out of the contract unless that right was waived for some particular reason.

The buyer and the seller have now agreed on what is to be fixed and what is not to be fixed. During escrow, the seller will be fixing the items that the buyer wanted, and will also be packing up to move. The buyer will be packing their home to move in to the home they are buying, and making sure that their lender has all the documentation they need to fund the loan. Make sure that you communicate with your lender, there is nothing worse than having to pull up six months worth of bank statements the day before you are moving in to your new home. In order for the loan to go through the lender needs certain documentation that will be communicated to the buyer frequently.

The loan has funded now. The buyer and the seller will now have to sign the closing documents at the title company. The lender will deliver the funds to the title company for the buyer, and from those funds the seller will get the proceeds from their sale. The title company will then transfer the deed of the home from the seller to the buyer through the county recorders office. After this step is complete, the buyer legally owns this property and can start moving in.

It is of paramount importance to use an educated, aggressive, and experienced Realtor when dealing millions of dollars. A bad Realtor could cost you literally tens of thousands of dollars. You need your Realtor to negotiate the price for you, and negotiate the terms of the contract for you so that your best interests are represented. If you find a home for two million dollars, the seller may accept two hundred thousand dollars less than the asking price. You never offer the list price, offer way below as a starting point. During the inspection period, you want your Realtor to get everything they can out of the seller. You do not want to be making repairs on your move in day.

Do your homework when selecting your Realtor. Ask questions. Does my realtor have an education? Does my Realtor know the area? Does my Realtor have experience? Does my Realtor have credentials? You do not want a high school drop out representing you when making the biggest investment of your life. Click the link below to get in touch with a fantastic Realtor in Paradise Valley, Arizona.

A lease option purchase is not a bad idea with the current market conditions. This type of Real Estate transaction has a little bit more paper work involved, but it may be worth the extra effort. Many clients have been inquiring about lease option purchases. This article goes over in great detail how they work, and how to execute a lease option purchase successfully.