Staging Your Home To Sell

 

One of the most important things you can do to get your Phoenix real estate ready to sell is to stage it properly. Staging is the process of cleaning and preparing the property with the goal of selling it quickly once it has been listed. Performing this step of the selling process correctly can significantly shorten its time to sale. Here’s what you should know about staging your home.

Staging Professionals

For sellers who do not have a lot of time or who may not fully know what to do to appropriately stage their home, it may be a great return on investment to hire a staging professional. This specially trained individual will assess the home and provide a list of items that must be corrected prior to listing. He or she understands how to optimally place furniture and accent pieces to create the most appealing first impression. You have literally seconds to impress a potential buyer when they walk through your home, and this trained pro knows exactly what to do to get the highest possible offers. If you have already moved into a new home and the sale property is vacant, your staging consultant may use rental furniture to create the perfect atmosphere.

Cleaning and Purging

Regardless of whether you stage your Phoenix real estate by yourself or you hire someone to do it, you’ll need to take care of some tasks during the process. The home should be empty of all clutter and immaculately clean. Counters should be free of nonessential items. No objects should be left on steps or in corners. Clear out cluttered closets and garages.

Renting a storage unit for a short period of time can be very helpful in the decluttering process, since excess furniture and all of those boxed holiday decorations can be neatly stored offsite and out of the eye of critical buyers. As you pack your nonessentials, place the boxes in your offsite storage as well. The more open, spacious and clean the home looks, the more likely you are to obtain an offer after a showing. Don’t forget about cleaning carpets, windows and window blinds. 

Maintenance

Upkeep of a property is always important, but never more so than when selling your Phoenix real estate. Repair any cracks in the walls, both inside and out. You’ll want to touch up any paint scratches or scuffs, oil squeaky hinges, tighten doorknobs, replace spent light bulbs and make any small repairs that have been lingering. Dripping or leaky faucets or toilets detract from the perception of the home and may cost you in the long run. Make sure that the landscaping is well done and the yards look clean and fresh. Your realtor can help you identify things that should be addressed before listing. 

Staging is critical to successfully (and rapidly) sell Phoenix real estate. Our extensive experience will help you complete your home sale efficiently and at the highest price possible. Contact us today for your pre-sale consultation! 

Cut Mortgage Insurance

Making additional payments toward the principal of your mortgage will do three things for the homeowner: save interest, build equity and shorten the term on fixed rate mortgages.

These things should be beneficial enough to justify the extra payments but another huge advantage is available to those who have private mortgage insurance on their loan. Mortgage insurance rates vary but can range from seventy-five to two hundred dollars a month on a $200,000 mortgage.

Lenders are required to automatically terminate mortgage insurance when the principal balance reaches 78% of the original value of the property. It is important for homeowners to monitor their balance because sometimes lenders may inadvertently fail to terminate the coverage.

Mortgage insurance is a necessary but expensive requirement for many people who are limited to a down payment of less than 20%. Eliminating the need for it can save thousands of dollars over time.

The Consumer Financial Protection Bureau, CFPB, issued a compliance bulletin on August 4, 2015.

The Life of Luxury

Real estate in Phoenix encompasses a wide variety of different home types, neighborhoods, lifestyles and price tags to suit just about any buyer. Some very special homes on the market right now offer the best in Phoenix living, without a multi-million dollar price tag.

845 W. Edgemont Avenue (5232236)

This gorgeous 3-bed, 3-bath golf course home will take your breath away! Located in the historical Encanto Manor neighborhood, this house has been carefully renovated to update the home without losing the significant parts of its storied past. Shining granite greets you in the sunny kitchen, which also features new cabinets and modern appliances. Throughout this home you’ll find rich wood floors and all of the perfect touches you could wish for. You’ll spend many mornings gazing out of the glass-walled breakfast nook at views of palm trees and green fairways. Last but not least are the luxurious bathrooms, immense walk-in closet and a gorgeous large patio with stone accents.

3,026 square foot ranch style home; large lot. $609,000.  

  

31 E. Orange Drive (5262116)

This practically new 4 bedroom, 3 bath is located within minutes of downtown and within walking distance of fantastic restaurants and shopping. Built in 2012 in Historic Windsor Square means you’ll have the perks of a newer home with the charm and allure of a culturally significant neighborhood. You’ll enjoy many nights on the back patio after enjoying a wonderful dinner in your gorgeous modern kitchen. Truly a stunning home, the split floorplan means you’ll have privacy and space. Double sinks in the master bath accompany a jetted tub you’ll love sinking into after a busy day.

2,775 square foot ranch style home; 2012 built. $676,000

2016 N Alvarado Road (5308528)

The highly coveted Alvarado Historic District is where you’ll find a gorgeous 4-bed, 3 bath gem of a home. The spacious (and breathtaking) kitchen is suited for both family dinners and gourmet dinner parties. The large butler’s pantry has room for all of your sundries and partyware. The home has new flooring throughout and it is very well maintained. You’ll love the immense open rooms, walk in closets, and dazzling back yard with sparkling swimming pool. This exquisite home has plenty of room for children, pets, and social gatherings.

3,094 square foot ranch style; pool with covered patio. $795,000

1620 SW Palmcroft Drive (5260838)

We’ve saved the best for last in this Palmcroft Historic diamond. The stone touches throughout are complemented by the beautifully arched doorways, wood and tile floors. The crowning jewel of this unique piece of real estate in Phoenix is the 10-bay garage and carport, perfect for the car collector needing a place for their treasures. A separate guest house is a great place for in-laws or guests while you enjoy your privacy in this charming homestead.

3,100 square foot Tutor style home; large lot; 10-bay garage and carport. $950,000.

Real estate in Phoenix has a lot to offer those looking for a more upscale living environment. Tell us about your perfect home so we can help you live the life of luxury!

Lower the Rate & Deduct the Interest

A home can easily be a person’s largest personal asset and it can be a powerful tool to increase financial stability also.

Since most mortgages are amortizing, the loan becomes a forced savings account that reduces the unpaid balance with each payment. The equity could be used to improve a homeowner's financial position involving other loans.

While every homeowner recognizes that they can deduct the interest paid on their mortgage, it is surprising how many don’t know that they can write-off the interest on up to $100,000 of home equity debt assuming there is sufficient equity in the home.

The real advantage to a homeowner is that the money borrowed can be used for any purpose and the interest is still deductible. Homeowners could payoff high-interest rate credit card debt or student loans with a considerably lower rate on a mortgage and deduct the interest on the home-equity debt.

Replacing debt with lower rate loans that have deductible interest can be a strategic decision to financial stability and a debt-free environment. A trusted mortgage professional can help you analyze your individual situation to determine if it would be better to refinance with a cash-out first-mortgage or a dedicated home equity loan.

Things That Kill Your Credit

Some people take their credit for granted and don’t start paying attention to it until they need it. The problem with this is that it could delay if not altogether cause the loan to be denied.

The most common issue is not correcting items on your credit report. A large majority of credit reports have errors but not all of them are critical. Since it takes time to remove them, it is a good practice to review your free credit reports from each Experian, TransUnion and Equifax once a year at www.AnnualCreditReport.com.

Another problem is making late payments. One 30-day late payment could be enough to cause a borrower to pay a higher interest rate or even be denied a loan. Payments have a due date and even when they allow a few days before a late fee kicks in, if it isn’t on-time, it is late.

Maxing out credit cards is another big problem. Ideally, a person wants to have an outstanding balance of no more than 30% of their available credit. As the percentage of available credit decreases, the credit score will go down.

Bad credit can not only keep you from getting the loan you want, it can raise your rates on the insurance you buy. In a study released by the Consumer Federation of America, people with good credit paid less than people with average and poor credit. Their results indicate that some customers with poor credit scores were charged about twice as much as those with excellent scores.

A prudent idea if you are going to be moving to a larger home is to get pre-approved with a trusted mortgage professional before you sell your current home. Occasionally, sellers find out after they’ve sold their home that they can’t qualify for another mortgage.

5 Downtown Phoenix Restaurants to Try

One of the best parts of Phoenix living is the nearly limitless access to outstanding food and drink. Truly a culinary city, there doesn’t seem to be an end to the list of superb restaurants. We’ve picked a handful of amazing haunts for you to try.

Bliss/Rebar

This hip bar/restaurant combination is a fantastic meeting place, especially for happy hour and their late night reverse happy hour. Upbeat music doesn’t drown out your conversation as you enjoy signature treats like Garfield Grilled Cheese with bacon and apples or the Cheesy Mac Balls! The Drink of the Day allows you an opportunity to try new cocktails for a low price. Don’t miss Chillaxin Sunday Phunday!

FEZ

Recently relocated, FEZ is now an even better spot to enjoy weekend brunches, dinner or late night festivities. The Mediterranean-inspired menu features favorites such as lamb sliders, the bleu cheese balsamic burger, or a delicious FEZ lemon & pomegranate grill plate. The menu is very flexible and includes kid-friendly options as well. You won’t want to skip the FEZ gooey brownie!

Switch Restaurant & Wine Bar

The atmosphere at Switch is just one reason you’ll love to go there. The fun drink specialties (including the sweet and spicy “Ombre” cocktail) will keep you coming back for more. The Switch House Burger receives rave reviews due to its wonderful combination of flavors including Angus beef, creamy goat cheese, crispy onion strings and house-made fig dressing. Phoenix living would not be as excellent without frequent visits to Switch! 

Corduroy

Whether you are after drinks and socializing or a delicious dinner, Corduroy will not disappoint. The cheese and bacon board alone is enough to make your mouth water! Speaking of bacon, the bacon-wrapped Mission figs are a blend of peppery-sweet goodness that you’ll love. The scallops and pancetta is another must-try dish. The great service, phenomenal desserts and extensive list of aperitif offerings will add to a sensational experience at Corduroy.

Pizza People Pub

Phoenix living would not be complete without a great go-to pizza place. You’ll find it at Pizza People Pub. Their expanded menu is a gastronomic dream of from-scratch doughs and fun topping combinations. Gluten free and vegetarian diners will also find plenty of temptation at PPP. If pizza isn’t on your favorites list, the house burgers and customizable mac and cheese are sure to please.

Phoenix living means that you are in range of the most delectable dishes you could desire. If you’re not lucky enough to reside in this beautiful valley yet, talk to us about starting your home search!

Checking for Water Leaks

An unexpected, larger-than-normal water bill could lead a person to think that they might have a leak. Before incurring the cost of a plumber, it is fairly easy to run your own test.

Locate your water meter. They’re usually in the front of the house, near the street. In some cases, you might need a meter key to open it; they can be purchased at Lowe’s, Home Depot or other hardware stores.

Step One - Write down the numbers on the meters to get a current reading. Don’t use any water for thirty minutes. If the meter shows water usage during the test period, proceed to step two.

Step Two - Shut off the valves to all of the toilets. If you have a pool with an automatic filler, it has a similar device. Repeat the test again for the same thirty minute period. If the numbers haven’t changed this time, it indicates that the toilets probably need servicing.

If the numbers have changed during step two, it is an indication there may be a leak and it will need to be tracked down. This could be the time to call a plumber or plumbing leak specialist. Your water department may have a consumer help line that can offer suggestions also.

What to Expect with Property Taxes

As a current or prospective owner of Phoenix real estate, there are many important details you’ll want to know regarding your financial responsibilities. Property taxes are one of those details, and planning for them appropriately will help you stay financially healthy. Here’s what you should know about paying property taxes in our fine valley.

Payment Schedules

The most important thing you’ll need to know about your property taxes is when they are due. Maricopa County, which governs most of the valley, typically has two due dates per year. At least half of your total property taxes are due on each of these dates. Of course, you may pay them in full to get them out of the way, but otherwise your half-year taxes are due no later than October 1 and May 1. If your taxes are not paid in a timely manner, the county may place a lien on your property or even sell it to recover past-due tax debts so it’s important to stay current.

Escrowed Taxes

Many buyers of Phoenix real estate are required to pay monthly into a savings (escrow) account that is then used to pay property taxes and homeowner’s insurance. Your loan lender holds this fund and then disburses the payments according to their due dates. Some lenders will send the check directly to you to forward to the county, while others will pay the county directly for the property taxes you owe. Ask your lender in advance how they handle tax payments, so that you can be aware of your responsibilities.

Assessments

Owners of Phoenix real estate obviously hope for their property value to increase. This can help build equity in the property and ultimately provide a higher return on investment. While these are positive things, one drawback to increasing property value is potentially higher taxes. When purchasing a home, the previous year’s tax rate is used to calculate what you should owe in the future. However, it’s very common for the county to reevaluate home values on a periodic basis.

Typically, you’ll receive a postcard from the county prior to a reassessment. Once it’s been completed you will also have the opportunity to appeal if you feel that the assessed value is higher than the true market value. In the case of an increase notification, you’ll want to sock away the difference to either your escrow account or separate savings account to manage the shortage when the bill comes.

Property tax is an obligatory part of owning Phoenix real estate and one that you should seek to understand. Working with an educated and experienced realtor can ensure that you know your responsibilities and what your financial future may hold as it pertains to your home and land.