What I learned in Real Estate this week - 11/22/15

Have you ever confronted a toddler about eating a cookie before dinner only to have them deny the accusation? But what they don't realize is they have chocolate all over their face. Guilty as charged, they refuse to admit their wrongdoing until you hold a mirror up for them to see their reflection. I had a similar event occur this week with the manager of a escrow agency. 

An agent under my brokerage had been dealing with a nightmare of a transaction the past six weeks. The seller he was representing challenged him and kept him on his toes at every turn. In spite of the obstacles he was able to get the buyer and seller to the closing table only to have a previously negotiated cost on the wrong side of the final settlement statement. Early on in the contract negotiations my agents seller refused to pay for a home warranty and specifically reference the section number and line number of the contract and stated that the home warranty was to be changed to read 'paid for by buyer'. Both parties signed this counter offer which referenced the agreed upon change. The seller did however agree to pay a percentage of the buyers closing costs which also was referenced in all the appropriate sections of the contract and was signed off on by both parties...read more. 

Animals of the MLS

If this week's featured pet on Animals of the MLS could talk they would either be telling us to "come on in" or "go away". Either scenario is a possibility, however, we do know that they are eagerly awaiting a guest to come to the door while they check out the activity happening on the front porch. If I had to guess, we could probably find this guy gazing out of his favorite window multiple times per day to make sure there aren't any mailmen, stray cats, or passing vehicles he needs to bark at. 

I'm sure this furry friend of the family is most likely the type that patiently waits by the front door for their owners to come home. Ample tail wagging, jumping, and vigorous barking most assuredly ensues upon the sellers returning from work each day. The problem with this habit is that it will perhaps be repeated when any potential buyers stop by to view the property. Unless the animal is removed or kenneled for showings, a potential home shopper may get an overly enthusiastic greeting when they visit this house. Small children, elderly clients, or those buyers who have a fear of animals will be turned off by such an exuberant reception even if the animal is well intended. 

As for the picture of the front porch itself I'm not sure what the agent was attempting to highlight. It's not a large enough area that you can sit out on a warm evening while sipping an ice cold beverage, swinging on your porch swing and waving at the neighbors. There isn't anything particularly enticing or intriguing about the front door. It seems fairly standard and nothing to boast about as a selling feature. Other than a small amount of greenery and the dog peering at you through the glass there's really nothing "alive" about this photograph. Normally I'd have a suggestion or two about how a picture could have been taken better but in all honestly I would have just skipped this one altogether. This isn't a porch that needed to be highlighted in any way as a selling feature to potential buyers. It's not as if it's necessarily an undesirable space, I'm just guessing there were other parts of the home that could have been touched upon instead. 

If you're selling your home in Gilbert, Arizona or the East Valley let the experts at Zion Realty help you. We take professional photos and put together a perfect marketing strategy to sell your property. Contact us today!

Land is selling once again in San Tan Valley, Arizona

It's been years since I've had the opportunity to represent a buyer that is interested in purchasing land. When the economic recession hit, land values along with home values took a nose dive. In the past few years here in Arizona both of these values have increased and land owners are now embracing the prospect of being able to sell their properties once again. This past week I was contacted by a buyer interested in a 5-Acre piece of land in San Tan Valley, Arizona which is an area about 15 minutes outside of Gilbert. 

I've been a representative for both buyers and sellers on land transactions dozens of times throughout my real estate career. Purchasing and selling land is a completely different type of real estate business. There are so many contrasting aspects you need to consider such as easements, utilities to the property, road maintenance, and zoning laws..read more. 

Avoid these Home Improvement Mistakes to Sell Your Home Faster

Owning your home means more financial responsibility than merely being an occupying tenant in a rental property. There are a considerable amount of additional costs that go in to purchasing a house such as Home Owners Association fees, insurance, maintenance, and repairs. In spite of the extra expenses having a place to call your own gives you a sense of pride and accomplishment as well as provides a fantastic investment opportunity as equity is built over time. 

One of the best aspects of purchasing your own residence is the ability to put a personal touch in to the decor and style. Paint colors, flooring, lighting, or total room redesigns are all just waiting for you to choose and customize. However, a home owner not only needs to keep their finger on the pulse of todays shifting trends and styles. They should also be thinking of a future when they themselves will be selling the place they called home and new buyers will be viewing their property with as much scrutiny as they once had during their home search. 

Personalizing your home can backfire when taken too far. Potential buyers may be turned off by the custom touches you thought were picture perfect. Here are some home improvement mistakes to avoid that might turn your home in to a hard-to-sell property:

Converted Bedrooms

Most individuals want rooms to serve their original purpose when the home was built. During your time as the home owner whether you closed in a closet, knocked down a wall, or expanded an opening to install french doors, most buyers will have a hard time accepting your alteration. Chances are you probably converted a room to fit your personal needs. But most likely your needs will not be those of the potential buyers viewing the home. These major changes to a floor-plan will also bring in to question the quality of the rooms alterations and whether or not a buyer should be worried that the transformation was done professionally.  

Enclosed Garages

Enclosing a garage space can also turn out to be a negative selling feature. Especially here in Arizona, a garage can serve two very important functions. First and foremost, it shields our vehicles from the damaging effects of the intense Summer Sun. Secondly, most homes built in Arizona do not have basements or attic space for storage so residents use some or all of their garage space to make up for this shortcoming. If you enclose a garage it takes away two desirable features of a home that potential buyers could view as unfavorable. 

Wallpaper

In recent years, wallpaper has made a major comeback in design styles. Modern and sophisticated colors and patterns have replaced the stripes and florals of the 80's and 90's. However, that doesn't mean wallpaper is universally accepted as a desirable decor choice. Think twice before adorning your walls with this style option. Potential buyers may view wallpaper as a headache to remove and take your home off the list of possible options.  

Pet doors

Constantly opening the door for your four-legged friends every time they want outside can be a never ending task. Installing a pet door can help maintain an animal owners sanity as well as provide consistent and convenient access to the outdoors anytime nature calls.  But not all home shoppers are pet owners. There are many individuals that will view a large hole that's been placed in the side of a home or through a door as an eye sore as well as a repair item that will need to be addressed if they purchase your home. Over time doggy doors can also get damaged, and become covered in dirt and pet hair if not properly cleaned and maintained. A filthy pet door in poor condition will alienate a large pool of potential buyers. Before having one installed, take this in to consideration. 

Face lift Fails

We've all been to the house of a friend or family member who decided to tackle a home improvement project based upon an on-line article they read or perhaps a YouTube video inspired them to try their hand at home enhancement. Either way, poorly refinished kitchen cabinets, crookedly laid floor tile, or incompetently installed light fixtures can spell disaster when attempting to resell your home. If you are handy with a hammer or skilled with a saw then by all means, enjoy the satisfaction attained from upgrading your property on your own. But if you are unable to replicate that which a professional can accomplish then you may want to lay aside your tools and call in the experts. 

Overbearing Landscapes

Plenty of homeowners have a green thumb and a desire to improve their yards by planting lush bushes, tall shade trees, seasonal flowers, and decorative water features. What you may consider a relaxing paradise others may view as a maintenance nightmare. Not everyone in the market to purchase a property is looking for a never-ending weekend landscaping project. If you go overboard with your outdoor improvements it could be a turn off to a large pool of home shoppers who don't have the same appreciation for nature. There's nothing wrong with enjoying the fruits of your labor being able to walk barefoot across your perfectly manicured lawn and trimming your carefully sculpted hedges. Just keep in mind that a garden utopia for you might mean a tough sell in the future as some individuals simply don't have the time or desire to handle the upkeep.

Shabby Sheds

Having a designated outdoor covered and enclosed storage space to lock-up and protect tools, equipment, seasonal holiday decorations, and any other item of value can be an appealing feature to a home buyer. But if your outbuilding has seen better days and is one more heavy rain storm away from completely falling apart then this property upgrade will be considered more of a hazard to those viewing your home. Thoughts of how to tear down and dispose of the dilapidated structure will begin to run circles in a buyers head distracting them from other more positive aspects of your dwelling.  If you are going to enhance your home owner experience by adding a shed to your property then be prepared to keep it looking as fresh and neat as the main home itself, otherwise it will be a major detraction when it comes time to sell.  

Home improvements are a marvelous way to add your personal touches around your residence and is just one of the many positive aspects of home ownership. However, these enhancements should be carefully considered with an eye on the future not just on the present. The overwhelming majority of individuals will own and sell multiple properties in their lifetime meaning at some point you will need to attract potential buyers for your home. Your property will need to appeal to the tastes and desires of a broad audience if you hope to compete against other available abodes on the market and have your home sell quickly. 

If you or someone you know are interested in purchasing or selling property in the Gilbert, Arizona or East Valley areas then contact us today! We'll give you our expert and professional advice on how to prepare your home for sale, or what to look out for when buying a home. 

The Most Expensive Home sold in Arizona last week

The most expensive home that sold in Arizona last week was a $6.5 million dollar luxury new build in the Scottsdale subdivision of Silverleaf. I've highlighted plenty of homes in this neighborhood for this series because Silverleaf is one of the most sought-after areas of DC Ranch. Unfortunately the builder didn't provide very much information on the subject property or show any pictures due to the fact that it will not be complete for another few months. So to satisfy my audiences insatiable desire for my weekly report on a fabulously exclusive estate that sold in Arizona last week I'm going to mix it up. I'm choosing to highlight a not-often featured style of residence in the Arizona market that is still an excellent example of luxury at it's finest...read more. 

October 2015 Market Report - How much is my Gilbert, AZ Home worth?

Every home owner wants to know how much their property is worth. Prices have long since stabilized for the most part here in Arizona and the dramatic shifts in upward and downward pricing have largely ceased. Bidding wars are few and far between and are only reserved for those most sought after locations around the Valley where properties rarely come available. But what can a home owner expect to get from their Gilbert, Arizona home? The current Sold to List ratio in October saw the third straight month in declines in this statistic. According to the numbers, home owners are getting 96.6% of their asking price when selling their home. This percentage still keeps Gilbert in a healthy market and is almost an entire percentage point above 2014 levels. 

The Sold to List price average is still at it's highest level in the past year which shows a strong and stable real estate market here in Gilbert, Arizona. This is also a good reminder to sellers that although you can list a home for sale at whatever price you feel is fair, the free-market will dictate what the home is worth. Ultimately, a home is only worth what someone is willing to pay for it...read more.