Category Archives: payson real estate

Why are folks buying homes in 2021?

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We are seeing an explosion of activity in the real estate world that began last year and has shown no sign of slowing down. Indeed, as the pandemic pushes on, impacting economies globally, we can surely anticipate continued growth in the market. This buyer’s market is a roller coaster that only goes up for the time being. It seems to be a perfect storm of reasons why home purchases will be continuing in the upward trend for the foreseeable future. Families are reevaluating what home needs mean for them in the world we now live in. The following are some of the factors impacting the upswing in the market.

Extra time at home: While always a refuge from the world, the space where we live has in the era of COVID-19 have become much more central in importance to almost everyone. Combining mandatory and voluntary quarantine periods, caution has dictated far more hours spent within the four walls of home than any other time in memorable history. With so much spent time, families often begin noticing where gaps exist in creature comforts. Home hunters are therefore on the lookout to fill these voids, seeking out the perfect fit for their needs and wants.

 

Record low interest rates: With interest rates at jaw dropping lows under 3%, sometimes getting close even to 2%, the financial pros of home buying are hard to dispute. While technically a seller’s market, the low interest rates currently abounding for home loans puts the ball squarely in the buyer’s court in the way of advantages.

 

Work from home culture: The pandemic has altered the work situation for many. Employment has shifted to accommodate a home based office setting in the interest of both safety and cost effectiveness for employees in regions spanning the nation. As such, expanded floor plans or modified layouts are higher on the hit list of “must haves” for house hunters in recent months to meet those new needs.

Outdoor space: Even as entertaining and social gathering slowly begins to trickle back into what was the norm prior to the pandemic, people are approaching their regained freedoms with an understandable abundance of caution. Time spent home also leads to the unfortunate side effect of cabin fever and an overwhelming urge to find space to get out in nature or simply stretch your legs. To make get-togethers more easily done with safety in mind, and to make home more of an oasis, home buyers are seeking out properties with bigger acreage and/or easy access to outdoor amenities that fit the bill.

 

Renovation avoidance: Quarantine time has been spent for some homeowners with a eye to renovation to make their particular wants and needs a reality. For others, however, such a large undertaking is simply an undesirable amount of effort. Many want the convenience of a turn-key experience, getting what they want without the hassle, time, or expense of professional or DIY remodel work. From a seller’s perspective, the strong seller’s market makes the usual practice of costly renovation work to attract buyers is by and large minimized, as the demand for properties becomes more and more frenzied.

 

Home ownership needs are changing and the market is doing an admirable job of keeping up with demands of what today’s homeowner is seeking. Now is certainly the right time for home ownership and an experienced real estate professional is ideal liaison to making the process straightforward and seamless. Contact our offices today to set up a consultation for how to make the necessary first steps in your home buying adventure. Our experts are ready to make the dream come true for your family.

 

 

Should you sell during the holidays?

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Should you sell during the holidays?


Scale back on holiday decorations. Buyers want neutral. Depending on how into decorating sellers are, this could go into either the pro or con column. A seller might want to look into a professional home stager to do their holiday decorations and get them just right. Don’t leave gifts under the tree. There is no reason to welcome in thieves along with potential buyers. Make it smell (and taste) great with freshly baked cookies. Below are a couple of pros and cons to selling during the holidays:

Pro – Buyers that are looking for a home during the busy holiday season are usually more serious about finding a home and are ready to make a decision.

Con – Homebuyers could get the false impression that a seller is desperate and give a low offer if they keep their property listed during this season

Pro – Being in a home during the cold months means a seller will get to see the heating system in action. Ditto for how well the home is insulated and if there is any issue with draftiness around doors and windows. That is a definite plus.

Con – People have more flexible schedules during holiday season, meaning they can view the house at any time. This can become inconvenient for a seller at this very busy time of year (think parties, family time, gift wrapping, baking, etc) Is it worth the hassle?

A seller can consider taking their property off the market during the holidays. They can discuss with their agent if this is a good strategy. Relisting in the new year could ultimately benefit them. New eyes. Fresh start.

There are points both for and against to contemplate when deciding whether or not to list or keep a property listed during the holiday season. In any scenario, it is always wise to seek the counsel of a trusted real estate professional who can guide them with seasoned advice to make the best choice for their situation.

Understanding C.L.U.E. Reports

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Understanding C.L.U.E. Reports

Also known as a Loss History Report, a CLUE Report is a record of insurance losses. Each month, participating homeowners and auto insurance companies report claims history information, which goes into a central database called the Comprehensive Loss Underwriting Exchange (CLUE).

These reports will show you the past 7 years of insurance claim history of the current homeowner. If you are a perspective buyer, it is important that you request this documentation from the current property owner before moving forward with a purchase. Homeowners can also request a free CLUE report.

When it comes to insurance companies, they exclusively use C.L.U.E. reports to underwrite and rate new policies. They have very little use for them outside of those factors, as they already have loss histories for existing policyholders and properties within their database.

If you find a mistake in a report, such as an incorrect loss payment or claim report, one can dispute it by contacting the company directly. Let them know what the issue is, and they will contact the insurance company on the individual’s behalf.

If you would like to obtain a C.L.U.E. report, you can request a copy from LexisNexis toll free at 1-866-312-8076 or by visiting personalreports.lexisnexis.com.

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

 

Home Inspection – What’s the Big Deal?

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As the buyer of a new home, you might be advised to have the home inspected before the sale closes. While it’s so easy to get caught up in the excitement of the new house and want the sale to close as quickly as possible, it is important to have both a home inspection and a WDO inspection.

  •  Home inspection will check the structural condition of the home and includes the electrical, plumbing, roof, heating and AC.
  •  WDO inspection is typically referred to as a termite inspection, but termites are only one type of wood destroying organism. Carpenter ants and rodents can also wreak havoc with your home.

Why is this so important?

You might be thinking you don’t need the Home Inspection at all, especially if it’s a brand new house. But there are several reasons that an inspection is highly important.

It can save you from a really bad deal. If there are flaws in the home, you, as the buyer, can negotiate price with the seller, ensure that the seller pays for repairs before the closing of the home, or, depending on the level of damage, back out of the sale completely.

It can save you major legal problems down the road. An inspection can reveal illegal installations that were added or done outside of building codes that can be dealt with before it becomes your obligation to adjust or pay for down the road.

It can save you money. It can also help predict future costs, by revealing the age of certain aspects of the property like heating, plumbing, roofing, and other fixtures.

It can help you decide what to fix and when. Inspectors know their field well. Their task is to do an extensive inspection of the house including the plumbing, electrical, foundation, crawl spaces, attics, basements, and many other things. At the end of the inspection, they can give you tips and advice on how to handle current damages that need to be repaired right away, versus the ones that can be put off for a while longer until your budget allows it. They can also tell you which items should be repaired versus completely replaced, and recommend good contractors or product brands.

It can identify potential pest problems.

Some evidence of rodents is obvious, such as droppings or suspicious holes in a wall. However, resident pests aren’t always so easily spotted. This is another reason that having a WDO inspection done on your potential house is a good idea.

One of the primary pest concerns is with wood-destroying organisms (WDO). This includes any wood-boring pests, but mainly focuses on the most common perpetrators in this department: termites. Getting a WDO inspection is crucial because the inspector is trained to find subtle evidence of termites in a house.

It’s important to be sure the inspector is licensed in pest control to ensure a quality inspection. This also means they can identify potential termite threats that would otherwise get past even a savvy home buyer.

A termite inspection is worth every penny, because according to turnerpest.com these pests cost people over $5 billion a year.

Who pays for the inspection?

There are times when the seller might have the home inspected before putting their house on the market, so that they can adjust the asking price of their home, and also so that they have an inspection report to give to potential buyers. If not, then it’s your responsibility as the buyer to get an inspection on the house. Usually you’ll have a stated number of days in your contract to do so, and it’s your choice who to hire. Prices for a full inspection can range anywhere between $250 to $500 depending on the location and the size of the property. If you’re unsure which inspector to hire, ask your realtor for recommendations.

In short, home and pest inspections aren’t the most exciting part of the home buying process, but they are very important and shouldn’t be skipped because of the time, money, and problems that they will save you down the road.

 

 

 

 

 

Why Prequalify?

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 When shopping for a new home, it’s easy to go straight to property listings and open houses. But there’s a key factor in home purchasing that should take place long before you ever start looking: prequalifying for a loan.

 You might wonder why you should set out to prequalify for your mortgage loan before you even start house hunting. Of course there’s no harm in just casually looking for possible houses, but a with a pre-qualification in hand, it will give you a guided direction to know where to start looking, before you spend time and energy searching for homes in a neighborhood you can’t afford.

There are a lot of benefits to being pre-qualified when house hunting, especially in today’s market. One, when you sit down with a lender, you have the option of discussing loan options that fit your budget instead of running your search based on estimations. Two, the lender can check your credit so that you’ll know if there are any issues ahead of time. You can also learn the maximum available loan which will guide you to houses in your price range, saving you time and energy and helping to narrow down your search. And lastly, in today’s market, home sellers will actually be more willing to negotiate with you if you have a pre-qualification. Having a pre-qualification shows to the seller that you’re serious about buying, and sometimes, with other offers on the table, having a pre-qualification can be the asset that tips the scales in your favor.

 In short, taking time to apply for a pre-qualification is always beneficial, not only for the time and energy it will save you in the long run, but because of the peace of mind it will give you as you shop for you new home.

Should I buy an existing home or build a new home?

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Many times new home owners are caught between the question of should I buy an existing home or build a new home of my own? This is a great question, and it really comes down to the potential owner’s personal preferences in several different areas. To make it easier to decide, let’s break it down into the pros and cons of each.

 

Pros of buying an existing home:

 

  • For an existing home, one of the main pros is convenience. You can move in immediately after closing and are instantly ready to begin your new life.
  • You also have the potential of upgrades when buying an existing home. You can upgrade the house or the property in small ways — or major ways — in your own timeframe and whenever your budget allows.
  • Another upside is that the cost of an existing home can be negotiated, unlike when building a home, where prices are fixed, and sometimes there are unexpected costs.
  • With an existing home, most times, you are usually moving into an established neighborhood, which gives you the ability not only to socialize and entertain, but it usually means that stores, schools, and hospitals are nearby.
  • Another benefit to buying an existing home that’s sometimes under-considered is the landscaping. If you move into an existing home, you’ll have mature landscaping and trees to work with and add to, as opposed to having to cultivate the bare lot of a newly built site.

 

Cons of buying an existing home:

 

  • One of the cons of buying an existing home is somewhat of an obvious one — you will always be competing with other buyers for the home, whereas you’re less likely to have steep competition over a vacant lot.
  • Another downside is the compromise on some of the existing features of the home. Unless you’re lucky enough to find your perfect dream home, it’s likely that you’ll have to settle on some of the aspects of the house and its floor plan.
  • You may also end up needing to repair or restore certain aspects of the home, such as heating, cooling, or roofing, depending on its age and condition.

 

Now let’s look at some of the positives and negatives that come with building your own home.

 

Pros of building your own home:

 

  • When building your own home, you can have it designed to fit your lifestyle and your preferences and get exactly what you want.
  • You can also have custom details put in, things that make your house unique and intriguing.
  • Should something go wrong with an aspect of your new home, large repairs are usually covered by a warranty.
  • New homes are also more energy efficient and can cost you less in the long run.
  • A new home is also less likely to contain toxic construction materials than an existing home, and you can take special measures to ensure the building materials you use are as eco-friendly as possible.

 

Cons of building your own home:

 

  • When building your own home, the timeframe will be the main issue you face. You’ll have to budget a length of time in advance for the new house to be built, and sometimes, unforeseen things happen, pushing your timeframe out farther than expected.
  • Building your own home can also be more expensive than outright buying an existing home; with a new home, there tend to be more upfront costs and not much room for negotiation on purchase prices or closing costs.
  • There can also be extra costs you hadn’t budgeted for, either when choosing to upgrade certain aspects to your home, or paying for unexpected issues that weren’t budgeted for.
  • If you’re building on an untouched lot, there can be extra time and money required for the lot itself, either to landscape the bare lot when the home is finished, or to shape the lot / remove trees to fit the new house.
  • Lastly, there are impact fees to consider when building a new home, which is a tax usually imposed on new builders to cover the “impact” made on schools, roads, fire departments, etc.

 

When choosing an existing home or building a new one yourself, there are many pros and cons to both sides. In the end, it comes down to time, money, and what you’re looking for in your dream home.