We have a dynamic duo in this weeks edition of Animals of the MLS. They may be small in stature but I bet their bark is mighty. Especially when they both ban together against a common foe like a neighborhood cat outside or a passing garbage truck. These two best friends both look like they were surprised by the agent in the room. Curious enough not to move yet subtly keeping their distance. One of them seems to feel hiding behind the coffee table was their best option in this scenario as you can barely see their cute little face peering just above the center piece. The other more brave fellow is definitely comfortable being out in the open to most likely follow the agent around from room to room no doubt doing their best to remain under foot and in the way!...read more.
Another new agent to the Gilbert, Arizona Zion Realty team!
I'd like to officially welcome Jeremy Demers to the Zion Realty team! Jeremy was recently licensed earlier this year but isn't completely new to the real estate industry. He was previously a licensed home appraiser before going in to the health and fitness industry. His personal goals of investing in real estate made him realize he had a passion for real estate so he took the necessary steps to become an agent..read more.
Is your daily commute really worth a lower mortgage payment?
There is a phrase in the real estate industry that has been widely used for years. It's connotation is meant to be humorous but it does have a serious, underlying tone. "Drive until you qualify" means that the farther away from a major city in which you purchase a home, the better your chances of being able to qualify for a monthly mortgage payment low enough to afford.
Generally speaking, when new home communities spring up on the very outskirts of town, they cannot charge the same pricing for a home located in the heart of a major city. Homeowners won't have the shopping centers, jobs, and infrastructure directly around them if they decide to move out to extreme boundaries meaning they will need to commute in to major areas for most of life's necessities. Higher commute costs will dramatically cut in to an individuals monthly budget. This being the case, home builders must lure buyers to these properties with lower pricing and affordability. But just how much are you saving as a homeowner being able to afford a lower monthly payment yet expending hundreds of extra dollars per month on commuting costs?
Using the following data and statistics from AAA as well as an on-line commuter cost calculator I reached some startling results:
1. Average daily round trip commute distance: 40 miles
2. Average monthly days worked: 20 days
3. Average MPG on a vehicle: 20 mpg
4. Current National Gas Price average: $2.77
5. Average vehicle size: Mid-Size to Intermediate
6. Average monthly car payment: $250.00
Total Estimated monthly cost of commuting: $827.20
Total Estimated yearly cost of commuting: $9,926.40
These estimated total costs factor in not only the above statistics, but also normal wear and tear on vehicles, higher insurance premiums for high mileage drivers, routine maintenance, oil changes, and total lost wage earning potential from time spent traveling. If you're like me, these numbers should be startling and make you second guess purchasing that home far out from the boundaries of where you work and play. You may save a few hundred dollars per month on your mortgage by living farther out of the city but these numbers help make it more clear just how much more you're actually spending overall.
There are also other factors when deciding to purchase a home which will require an extensive commute. You will most assuredly get more home and more land for your dollar in these outlying areas. If you have a large family and are in need of space to stretch out then you may have no choice but to shop in these farther out reaches depending upon your budget. Maybe you and your family enjoy being outdoors and living outside of the city boundaries allows you a quicker escape to your favorite weekend trails, lakes, and mountain get-aways.
At the end of the day, what you really need to factor in to your decision on purchasing a property that will require a long distance daily commute is time. Time is our most precious commodity. You need to ask yourself if having a slightly larger home or a bigger lot size is really worth the extra time you will spend on the road each and every week away from your friends, family, and activities that you could be enjoying.
Finding the right home for you requires thought, research, and help from the experts at Zion Realty. Contact us today for professional guidance on how and where you should buy your next home.
"The Cop says he's Nuts". A tale of Disclosure.
A few days ago in my weekly Sunday wrap-up blog post What I learned in Real Estate last week I wrote about a disturbing, rather alarming note left on the front door of a Condo in which I was holding an open house. I stopped holding open houses alone years ago for safety reasons. Thankfully no major incidents happened while myself and another one of my agents were there. As soon as I returned home I scanned and emailed the note to the owner of the Condo as they are a Canadian investor and do not live here in the U.S.
The note was threatening enough, however, that I needed to report the incident to the proper authorities. As soon as I could I placed a call to the local police department and read the note in it's entirety to the clerk who answered the non-emergency line...read more.
The Most Expensive Home sold in Arizona last week
The most expensive home that sold in Arizona last week comes with a bit of a twist. It's not so much a home as it is a homestead! This 20-acre working horse ranch in Scottsdale, Arizona was sold for $2,125,000.00. The home itself is very quaint and unassuming. At a modest 2,100 square feet it has all of the essentials to modern living. A nice workable floor plan with an open kitchen and large bedrooms are about the only items for which this home can boast. But whoever was in line to purchase this property certainly didn't have luxurious amenities on their mind. The property includes 6 barns with 121 stalls, a lighted and covered arena, two outdoor arenas with announcers booth, a cutting pen, round pens, 8 separately fenced shaded turnouts, 5 casitas, 6 RV hookups with water, electric and sewer, and direct gated access to Tonto National Forest...read more.
SOLD - 533 W Guadalupe Rd
If you blinked, you missed out on the opportunity to buy this completely renovated Condo in Mesa, Arizona! Zion Realty sold this property within 4 days for Full asking Price! The buyer and seller could not be happier!