Category Archives: News

Closing Day: What Can I Expect?

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This is it: your dream home! You found the place, made your bid, haggled out the specifics, struck a deal, and got through the financing paperwork mountain. Now it is time to close. What does that mean? Let us break down the closing process and put your mind at ease, to let you sail through these final few steps to home ownership.

The home closing is the final step in the long process to home ownership. Closing is completed when the deed and title is transferred from the seller to the buyer. Copies of financing documentation and proof of insurance are then transmitted to the county recorder as well.

Typical buyer costs: As can be expected, the closing process does involve some significant fees. Lenders are required to give an estimate of closing costs within three days of your applications, according to the Real Estate Settlement Procedures Act. In some cases, the lender’s fees are negotiable, and sometimes the seller will pay some of the closing costs. The fee scales for lenders and realtors also vary, so there is never one set price. Attorneys and third-party escrow holders are professionals that charge for their services as well. The general rule of thumb advises to anticipate 2-5% of the home purchase price for closing cost fees. With this model as a guide, for example, using 2019’s median home price of $315,000, the low end of average closing costs would likely be about $6,300 (2%).  Fees vary depending on the price of the home and the lender fees applied. Comparing different lenders can help to minimize fees in the closing process.

What is included in closing costs?

  • Origination fee or broker fee (0-1% of loan amount) — Typically includes all the small fees charged by your lender or broker to set up the loan
  • Mortgage points or “discount fee” (0-1% of loan amount) — Optional upfront fees paid to lower your mortgage rate
  • Title insurance ($300-$2,500+) — Fees paid to check historical records and make sure the property can be legally transferred to you
  • Escrow fees ($350-$1,000+) — Fees paid to a third-party “escrow company” that handles funds and facilitates the home sale
  • Home appraisal ($500-$1,000+) — Fee to evaluate the home’s fair sale price or refinance value
  • Prepaid taxes and insurance ($1,000-$4,500+) — Generally you pay six months to a year of property taxes and homeowners insurance in advance when you close

Agent representation during closing Agents are required by law to represent you as the buyer, and to place your interests above their own. This principle is known as “fiduciary duty.” An agent can help navigate the complex closing process and help handle anything that may be confusing with the escrow officer. Being a professional who consistently deals with homes closing, your real estate agent has the experience needed to navigate the process and advocate for you. Your agent will be able to be present with you during your final walk through, note any unresolved issues, spot and correct any errors in closing paperwork, and assure that all terms and conditions of the contract have been satisfied before the deal finalizes and the deed transfers ownership.

What do I need to bring with me?

  •  Photo Identification for all signers
  • (Cashier’s check, checkbook, or information for wire transfer transaction)
  • Proof of Homeowner’s Insurance
  • Any documentation from any point in the purchase process, from contract to close (for you to reference)

When do I get my keys? It is a common misconception that at the end of this long and complicated process, you will be handed your keys.  The reality is that in Arizona, home buyers rarely see keys to their new purchase at the closing.  It takes between 24-48 hours for lender monies to fund the loan, assuming no problems arise. Once this is done, the new deed must be recorded with the county. After that official confirmation is in hand, your agent will at last arrive to present you with your keys.

 

20 Reasons to Love Payson Arizona!

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  • National Park in your backyard. Tonto National Bridge, just 10 miles north of Payson, is believed to be the largest natural travertine bridge in the world. This amazing sight is breathtaking with, or without the hike down and passing under, letting the light reflect playfully through the waterfall that flows over the top and into a refreshing pool below.
  • Fresh air. Payson is home to the world’s largest ponderosa pine forest, which serves as a natural scrubber for the air. The result: pure clean blue skies, puffy white clouds, and an atmosphere that begs to be breathed deeply. That’s what we call real world aromatherapy.
  • Deep rooted western history. Payson is home to the world’s oldest continuous rodeo. While Prescott’s rodeo technically started in 1888, that town paused their rodeo for the years of WWII. The Payson Pro Rodeo began in 1884, but the “experts” did not find the early days of the Payson Rodeo to be ‘organized’ enough for consideration toward the record. However, Payson took no pause during those war years, so the title of oldest “continuous” rodeo was distinguished as an official title for Payson. In any event, every year in August, Payson hosts a spectacle for the senses. Tourists flock from around the globe to experience the broncs and blood of our old west tradition.
  • Year-round festivals. The Rim Country boasts a vivacious year of regional festivals, fairs, and other activities, enjoyed by locals and visitors alike. With four seasons of livable outdoor weather, the Payson area offers an array of festivals catering to myriad tastes and passions in every month of the year.
  • Outdoor recreation galore. Do you fancy hiking? Horseback riding? Rappelling? Water sports? Mountain biking? Then Rim Country is calling your name. The Payson area is ripe with natural beauty and topography for the active adventurer. Come play with us!
  • Animal friendly community. Locals like to joke that it is easier to be an animal than a human in Payson. They aren’t far off. Our community is full of animal lovers. Our humane society is second to none, and our pet owners, well…just try to find anywhere you can’t take your beloved Fido in our little community. We love the furry kiddos here, and it shows!
  • The Heart of Arizona. Literally, we are geographically at the center of the state. We boast an intimate small-town community, while also just one hour from the larger metros in any direction. That gives us literally the best of both worlds. Come here for the intimacy, stay here because you can escape to the “hustle and bustle” of easy commerce and conveniences without any hassle.
  • Geologic playground. Payson is, quite simply, a rockhound’s paradise. Diamond Point, just east of Payson, has one of the largest natural Amethyst mines in the United States. The desert surrounding Payson is flooded with agate geodes. Ranging in diameter from tiny to almost grapefruit sized, these brain-like rock spheres are abundant hidden-treasure Easter eggs for geologists to crack open.
  • Longhorn Pride. We are a proud community who invests in their youth. Years ago, our public school system adopted the mascot of “Longhorns” to apply to students in all levels of education; elementary, middle, and high schools. Today, public school students in grades K-12 now identify as Longhorns. This establishes community ownership, pride from youth, and extends generations beyond. We are proud to cheer our Longhorns to victory, no matter their age or sport/activity. WE. ARE. PAYSON. LONGHORNS.
  • Iconic water tower. This landmark says home to locals. To visitors as they enter town from the busy metro Phoenix area in the south, it whispers: peaceful retreat.
  • Weather! Due, in part, to the cosmic fortune of our ideal 5,000 foot altitude (yes Payson is also technically a MILE HIGH town) we experience all four distinct seasons without suffering through any of them. Score!! We get the picturesque aspects of each bit of winter, summer, spring, and fall, complete with bragging and Facebook posts, but also get to avoid the extreme seasonal discomforts experienced by our neighbors in any direction.
  • Sunsets that practically invented the postcard industry. Stop and look at the sky at sundown. Look a bit different than what you’re used to? We do it differently here in Payson, where the sky gets painted every evening in sprightly fun colors and fancifully delights senses. Camera phones come out quite often here. No Instagram filters needed for this spectacle. We have the real thing.

 

  • Faith: With a population just over 15,000 and active places of worship numbering over 70, we are a town with no shortage of options for your spiritual needs. In fact, many new residents list access to a preferred place of worship among the top reasons for relocating to our area.
  • Casual Friday, every day. We definitely don’t tend towards the gussied-up, fancy types. Even our higher-brow industries do it a little less formally than the big cities. Jeans, hoodies, and ball caps are standard. If it is fancier fare, we have to spell it out in advance, or understand that a cowboy hat and some boots, maybe times twenty, might show up to the occasion.
  • Life moves a little slower. We notice the things that the big city folk seem to look past. Like sunsets, conversations with neighbors, and the world shutting down in a snow storm. These are the pleasures and perks of small town life in Payson.
  • Smiles, waves, conversation. Friends, family, acquaintances, and yes, even strangers are acknowledged and engaged with here. We see you.
  • Dark Sky Community. In 2017, Payson attempted to become the 5th officially recognized dark sky community in the world. While the bid did not eventuate politically, we pride ourselves on our commitment to enjoying the stars in the sky, and keep our lights low in the evening hours to be able to see the celestial light show that greets us from above each night.
  • Nature up close and personal. See the squirrels, and the elk, javelina, even the occasional bear. Hear the birds, heck, smell the fish. We have nature here, in so many forms. Our flora and fauna are incomparable, and we are able to experience it on a daily basis.
  • That view of the Mogollon Rim. In a word: breathtaking.
  • Traffic? Nonexistent. Test us. Come on up.

 

 

Homeowners Associations – Are they for you?

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What is a homeowner’s association (HOA)?

A homeowners association (HOA) is an organization in a subdivision, planned community or condominium that makes and enforces rules for the properties and their residents. Homeowners associations are started by property developers, then turned over to the homeowners after a certain number of properties in a subdivision have been sold.

Initially, in a new development, the purpose of a HOA is for marketing and selling homes and lots. After the majority of homes are purchased and occupied, the purpose of the HOA transitions and becomes primarily focused on management and upkeep of home exteriors and any shared communal areas to maintain the corporate property values for the subdivision as a whole, and that it functions fairly and efficiently.

Generally speaking, if a home within the boundaries of an existing HOA is purchased, the new owner becomes a member of that HOA as a compulsory condition of owning the home. As a member, they will be required to pay fees, and agree to abide by all the rules and regulations laid out in any applicable HOA governing documents regarding their home, including but not limited to Articles of Incorporation, CC&Rs (Covenants, Conditions, and Restrictions), and By-laws.

HOAs have a board of directors or governors, elected to enforce and oversee the HOA’s rules and regulations. Typically, the board of directors is comprised of homeowners also living within the boundaries of the HOA. An HOA describes its rules in a document called the Declaration of Covenants, Conditions and Restrictions (CC&Rs), which set certain conditions on owners and their properties. The conditions may include structural restrictions such as the type of fences or landscape allowed, or minor selections such as the color of paint on a house. This document usually also outlines the penalties for violating the CC&Rs, which may include fees, forced compliance or in some cases, litigation.

Some things that may be covered by these types of governing documents include (but aren’t limited to):

  • Fencing
  • Landscaping/vegetation
  • Paint colors
  • Maintenance standards
  • Parking
  • Rental guidelines
  • Noise
  • Pet restrictions
  • Meeting information
  • Membership fees
  • Fees for Common Area Maintenance (C.A.M.) or amenities
  • Penalty disclosure for violation/non-compliance

How prevalent are HOAs?  Approximately 25% of homes today are governed by HOAs.

Pros and Cons of HOAs

Pros:

  • Homes governed by HOAs tend to maintain higher property value and resell at premium prices because of overall community standards being kept high.
  • A HOA could potentially pay for or subsidize high cost repairs or upgrades such as roof repair or major landscaping.
  • HOAs promote tight-knit community bonds, sometimes organizing neighborhood activities such as movie nights, holiday themed events, or babysitting co-ops.
  • Safe, clean, and well-maintained common areas and amenities like parks, pools, and community rooms.
  • Increased community pride, neighborly communication, and sense of belonging.
  • Added layer of support when dealing with issues such as neighbor disputes.
  • HOAs are a deterrent for “troublemakers,” thus naturally weeding out less desirable neighbors.

Cons:

  • Can be costly.
  • Management is different from HOA to HOA.
  • Rules can be restrictive, a con for free spirits wanting carte blanche on personalization of home exteriors. Not ideal for those wanting Aquamarine colored homes, or 3 am block parties, for instance.
  • If you break the rules, fines up to and including home liens can be imposed against you.
  • Total privacy is not a probable expectation.

Before you buy:

When deciding whether to purchase a home governed by a HOA, here are some factors to consider.

First, you will want to read and understand all of the governing documents, and make sure the regulations and restrictions outlined are something with which you are comfortable living. Consider not just move-in, but any future plans might that be affected by the rules listed, such as exterior painting, remodeling, home addition, or outbuilding possibilities.

Secondly, look at the fees, and factor the costs into your home budget to make sure it is financially viable, understanding that many HOA fees are an annual, semi-annual, or even monthly recurring expenses.

Third, you may want to speak personally to a few homeowners within the area you are looking to purchase. Ask them how easy, or difficult, the HOA has been to work with to determine if it is something that suits your family, lifestyle, and temperament.

For some people, living in an HOA-controlled community is the right place for them. Others prefer the freedom and independence of living in a property free of outside oversight. As you select a home or community to live in, a good realtor will help you learn the ins and outs of each neighborhood so that you make the decision that is right for you.

Payson’s Market on the Move

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Market on the Move (MOM) is a farmer’s market type event and is being held on the second Saturday of every month through May.  The next Market on the Move is February 8th  from 8 am to 10 am.  Subsequent markets will be held on March 14th and April 11th.

Market on the Move is a great way to stretch your grocery dollars.  A $15 cash donation qualifies you for up to 60 pounds of produce and/or groceries.  Items are on a first come, first served basis.

Come out to Sawmill Crossing Shopping Center and join us!

 

 

Staging your home: Is it worth it?

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What is staging? Home staging is the art of preparing your home aesthetically in the best possible light to be shown to potential buyers. Great staging highlights everything a home has to offer and minimizes any blemishes. The goal is twofold: to get you more offers, and to make those offers higher than they would be without staging, and to do both more quickly than would happen without it.

Tips for making the most of staging: Appeal to the largest pool of buyers by using a few key strategies when staging your home.

  • Declutter! Most importantly, get rid of excess. Papers, books, games, dishes crowding cupboards….and just, stuff. Box it and store it while the house is being shown. Less is always much, much more. Minimize as much as possible, then minimize more.
  • Group furniture strategically. Pull your furniture away from walls and arrange in cozy groupings. Studies have shown that downsized furniture is often used by professional stagers in order to make rooms appear larger, so use the smallest and most delicate furnishings you have.
  • Give rooms purpose. If you have a space that could serve as an “office nook” or mudroom, make it appear as such, even if that hasn’t been how your family utilized the space. Make each room count.
  • Focus on lighting. Simply increasing the wattage on bulbs can literally shine new light on an area. Different color hues can cast different moods in a room as well.
  • Use paint to make spaces larger. Paint is one of the most cost effective ways to give a space a facelift. Monochromatic color between attached rooms can make the whole space appear loftier than it is. Matching paint color to curtain color has the same effect.
  • Embrace color. Accent walls, and pops of color in the form of pillows, towels, and accessories do a lot to add appeal to a room.
  • Use art creatively. Hang things at unusual heights and spacings. Be bold and distinctive to catch attention.
  • Use nature, bring the outside in. Utilize all you can of your native environment when it comes to decor. Branches, local flowers, ivy, fruits and veg from a garden, or distinct stones can all be used attractively to accentuate your home.
  • Make the master bedroom an inviting escape. Make a cozy bed and little else the focal point of a master bedroom. Some even buy a frame and a blow up mattress, adorned with beautiful linens to give the correct scale to a bedroom if their own appears to be the incorrect size.
  • Don’t forget the details, think hotel spa: luxurious towels rolled, baskets, beautiful toiletries that are attractive on their own atop the counter, decorative mirror framing. These things can be very impressive to buyers.
  • Think outside the box and use what you have. Look around the attic, basement or garage for unusual pieces that can be repurposed for display.
  • Keep the fur-babies under wraps. Unfortunately, buyers tend to see pets as a negative when viewing a house.
  • First impressions count. Entryways are a focal area you should concentrate on.
  • Keep your personal life packed away. Religion, politics, excessive family photos should all be relegated to boxes in storage for the time the house is on the market and actively being shown.

What does it cost to stage your home? Staging can be done on a very limited budget, or you can swing for the fences and hire the help of a professional to do the heavy lifting for a higher price tag. The investment is entirely up to you. A do-it-yourself approach is cost effective and very attainable, while professional services have the benefit of experience, resources, and knowing the current industry trends.

 

 What is the return on the investment of staging your home? What’s in it for you? Good staging is key to getting the best offers the most quickly. Recent studies in the US housing market showed that staged homes sold for 6-20% more compared to unstaged or empty homes in the same area. Potential buyers stay longer in homes that are pleasing to the eye, and people who linger are more likely to buy.

Payson – Electric Light Parade and Lights on Main

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It’s that time of year again, and Payson is always up for a good time during the Christmas season. The Annual Electric Light Parade is happening this Saturday evening at 6 pm all along Historic Main Street and it will be lined with locals and visitors alike, waving to the 40+ floats from local businesses and organizations. As if that were not enough, the Town of Payson Parks and Recreation/Tourism department has added a new event on main Street that evening to compliment the Parade. Business owners on Main Street have signed up and started preparing for the 1st Annual “Lights on Main” event.

 

Lights on Main encourages all of the local Main Street merchants to decorate the exterior of their building while also creating a fun, interactive experience for families to participate in. Lights on Main is happening from 4-6 pm before the official start of the parade. Merchants will have photo booths, hot cocoa, crafts, snacks, and more all set up for anyone and everyone to come and enjoy before the parade. The goal of the town is to take the event to the next level, while allowing business owners and community members to have fun interaction. So, dress warm and come enjoy the entire evening with your friends and family!

 

Weighing the Value of a Real Estate Agent

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Real estate is a huge field of business with endless ways to invest capital and generate potentially huge amounts of income. Few things are as secure as investment in property and houses. Real estate agents play an important role in this buying and selling business, making the choice of the right agent an essential decision. You can find real estate agents at variable rates, but what is the best choice to make?

Where to Begin?

The first step is to do the math. Play with the numbers and see how much can you spend or make when buying or selling the property. When calculating the cost, include the estimated amount you expect to pay your real estate agent. There are expensive as well as discounted real estate agents out there but you’ll have to choose wisely so that you don’t waste your time and money.

Discounted Real Estate Agents

There are many reasons behind lower commission rates. There are agents who are willing to charge 1.5 percent of the property, but let’s examine why this is so. Here are some things to consider about cheaper agents:
• Less experienced agents may be motivated to just get some sales under their belt and willing to work for less
• They probably aren’t as well-connected as more expensive agents
• They might not offer all the services you need

More Expensive Real Estate Agents

Higher cost doesn’t automatically mean higher quality, but for the most part the old adage “You get what you pay for,” holds true in most investments. In this caliber, you can probably expect these advantages with a more expensive agent:
• Better connections
• You have a knowledgeable agent to handle difficult paperwork and tough negotiations
• Larger skill set and more services provided
• More motivated which equals a better price for your house or property

Final Thoughts

With all of the things a seller needs to do to get their home ready for sale, hiring the right real estate agent is crucial to alleviate the stress. While there are hidden gems out there who might prove to deliver more than their low rates would suggest, buying or selling a home is a huge decision, one you want to make fully informed. It’s worth putting out a little more for a quality agent to ensure the wisest investment.

 

The holidays are just around the corner!

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There’s nothing like the holidays to inspire good cheer and be an excuse to spruce up your home. With a bit of imagination and some expert pointers, any house can be transformed into a cozy holiday home, even on a budget.

 

Pine Cone Decor

An easy way to infuse your home with some holiday accents is to simply take a hike and collect a few fallen pine cones. Nothing says cozy winter like some pine cones adorning your window sills and shelves. Plus, it’s free decoration!

Light it Up

Candles create the perfect holiday atmosphere and are cheap. Red, green, and brown candles add to the colors of the season, bringing warmth into the home and providing a subtle accent.

Throw it Down

Many clothing outlet stores carry seasonal throws and blankets. A plush autumn, Thanksgiving, or Christmas throw is an easy way to splash some holiday style onto a sofa or chair. When the weather starts turning cold, you’ll be glad to have them anyway!

Knobs and Handles

A clever way to temporarily remodel the look of your home for the holidays without spending a fortune is to purchase some new door knobs and drawer handles. During the holiday season, you can probably find reindeer knobs or drawer handles in the style of autumn leaves. Replacing your current knobs with these will instantly give your home a seasonal look and they can easily be removed after the holidays are over.

 

Creativity is Key

Look around you, both in stores and when you take an afternoon walk. There are so many little things that you can add to your home during the holiday season to match the mood and style you want for this time of year. Let your creativity run wild!

Ready for a New Home? House Hunting Tips to Keep in Mind.

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Location

We’ve all heard the real estate mantra: location, location, location. However, this repetition is completely warranted, as it can’t be stressed enough how important location is to the value of a home.

Neighborhood obviously plays a role in a house’s value, but so does the location within that neighborhood. It’s generally best to find a house that is on the low price end in a good neighborhood. The reason for this is the already high-value homes in the area will help bring up the value of the others homes as well.

Research a neighborhood before casting any judgments on it, whether good or bad. While it may seem best to simply invest in an already “good” neighborhood, what does the future of that area look like? Have any large businesses moved in nearby that could affect the immediate vicinity and desirability? When looking for the right neighborhood, see if you can find any projections on where that area is headed. In some cases, the best bet could be to buy into an average neighborhood that shows promise.

 

 

 

 

 

Rub Off that Genie Lamp

The best place to start your house hunt is actually in your own mind. Before you pore over hundreds of listings online, first think about what you really want in a home. This is the fun part! Pull out a sheet (or sheets if needed!) of paper and jot down the things that make a house truly your dream home.

While it might seem simple to write down the things you want, it can be overwhelming to organize the what and why of your list. The best way to cut through the confusion is to break up the list into categories. Not everything you want in a house is about the physical appearance and location. Many elements are intangible, such as the feel of walking through the front door. Do you feel at home when you step through? If the house you are looking at is not staged, imagine what it would be like filled with furniture? Does it start getting a little cramped?

Is having a big yard critical to you? How important is the square footage of the house? Does a million-dollar-view matter?

One of the most important, and most amorphous, elements of a house is convenience. How this is defined will depend on the individual buyer. This is a good time to make another list, one that keeps track of your deal-breakers. Sometimes it’s easier to realize what you have to have in a home by thinking of the things you can’t do without.

 

 

 

Stay on Track

As listings catch your eye, ask yourself what it is that makes them jump out to you. Make note of these important things and add them to the wish list you made above. Now is the time to start browsing listings online and attending open-houses. Your wish list will keep you on track and free from distractions. Any time you get that good feeling looking at a house, notice what causes your excitement.

It’s a good idea to keep a list of the houses you like too. By doing this you can compare and contrast to discover the pros and cons you may have overlooked when viewing them individually.

 

October Events in Payson

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Fall is here and so are a whole slew of fun events! From off-road racing to dog shows, mark your calendar for all of the upcoming events in Payson!

 

Time Out Charity Golf Tournament

This event benefits the Time Out Shelter, helping victims of domestic abuse.

Where: The Rim Golf Club, 300 E Rim Club Dr, Payson, AZ 85541

When: Friday & Saturday Oct. 4th & 5th

 

Rim Country Empty Bowls

The Third Annual Rim Country Empty Bowls is a popular pottery making event with 100% of the proceeds donated toward Payson and Pine food banks.

Where: Majestic Rim, 310 E. Tyler Parkway, Payson, AZ 85541

When: Saturday Oct. 5th, 4:00PM-7:00PM

 

Payson AZOP Grand Prix

Experience two days of thrilling racing on bikes, ATVs, and UTVs.

Where: The Payson Event Center, 1400 S Beeline Hwy, Payson, AZ 85541

When: Saturday & Sunday, Oct. 5th & 6th

 

26th Annual Beeline Cruise-In Car Show

Surrounded by the beauty of Green Valley Park, this car show brings out tons of visitors and culminates with the participants taking a cruise around town.

Where: Green Valley Park, 1000 W Country Club Dr, Payson, AZ 85541

When: Oct. 11th & 12th

 

4th Annual “Dog’s Day Out”

This event includes a dog show and a K-9 demonstration.

Where: Pet Club, 101 W Aero Dr, Payson, AZ 85541

When: Saturday Oct. 21, 9:00AM – 2:00PM

 

Trunk or Treat

The Trunk or Treat Fall Festival includes vendors, a photo booth, a tractor display, and more!

 Where: The Payson Event Center, 1400 S Beeline Hwy, Payson, AZ 85541

When: Thursday Oct. 31st, 6:00PM – 9:00PM