Sellers
How much is my house worth?
The best way to find out how much your house is worth is by getting a Comparative Market Analysis (CMA) done by an experienced REALTOR®. On a typical CMA we'll look at closed (and possibly pending) sales within the last 3-6 months within the same geographic area of your property that are most similar to yours. Usually the ones closest (same subdivision) within the last 3 months are prioritized. While you can get broad estimates using automated online models the prices vary quite a bit. A REALTOR® can best advise on price as we can adjust for other factors such as the condition of the property and upgrades/improvements that an online estimate does not consider.
The best way to find out how much your house is worth is by getting a Comparative Market Analysis (CMA) done by an experienced REALTOR®. On a typical CMA we'll look at closed (and possibly pending) sales within the last 3-6 months within the same geographic area of your property that are most similar to yours. Usually the ones closest (same subdivision) within the last 3 months are prioritized. While you can get broad estimates using automated online models the prices vary quite a bit. A REALTOR® can best advise on price as we can adjust for other factors such as the condition of the property and upgrades/improvements that an online estimate does not consider.
How long will it take to sell my house?
According to ARMLS data, the average house was on the market for 55 days as of August 2020. However, there are many variables including the list price, location, condition, showing availability and time of year that effect market time. If you'd like to get a more accurate idea as to how long it'll take to sell your house simply contact us and we can walk you through the options and realistic timescales. You can technically sell your house within a few days if it's the right price!
According to ARMLS data, the average house was on the market for 55 days as of August 2020. However, there are many variables including the list price, location, condition, showing availability and time of year that effect market time. If you'd like to get a more accurate idea as to how long it'll take to sell your house simply contact us and we can walk you through the options and realistic timescales. You can technically sell your house within a few days if it's the right price!
Should I invest in upgrades and improvements to increase the value of my house?
Upgrades and improvements in a home attract buyers but things like a pool, solar panels, upgraded kitchens and floors etc rarely increase the house value by as much as the cost to install the additions. However they will help you get the most money for your house over one that does not have improvements. As a general rule, inexpensive things like paint touch ups, a thorough clean and tidy, trimmed trees, mowed lawn, working light bulbs, and a generally well staged house with good curb appeal will generate more value for your dollar than major upgrades.
Upgrades and improvements in a home attract buyers but things like a pool, solar panels, upgraded kitchens and floors etc rarely increase the house value by as much as the cost to install the additions. However they will help you get the most money for your house over one that does not have improvements. As a general rule, inexpensive things like paint touch ups, a thorough clean and tidy, trimmed trees, mowed lawn, working light bulbs, and a generally well staged house with good curb appeal will generate more value for your dollar than major upgrades.
Do I need to invest in repairs before selling?
No, but it could affect price. Getting the house into an acceptable condition yourself will net the greatest return but there's plenty of people who will buy a house no matter what the condition as long as it's priced right.
No, but it could affect price. Getting the house into an acceptable condition yourself will net the greatest return but there's plenty of people who will buy a house no matter what the condition as long as it's priced right.
Why do I need an agent, can't I just sell my house myself (FSBO)?
For Sale By Owner (FSBO) is always an option if you understand the legal documents, state and local rules, and local market. Just bear in mind the buyer is likely to have their own agent who'll be working against your interests. If you want the most exposure of your home, you'll want to get your property listed on the MLS to expose it to the most number of buyers. 92% of homes are sold using an agent as it's usually simpler, more cost effective overall and means you have someone representing your interests.
For Sale By Owner (FSBO) is always an option if you understand the legal documents, state and local rules, and local market. Just bear in mind the buyer is likely to have their own agent who'll be working against your interests. If you want the most exposure of your home, you'll want to get your property listed on the MLS to expose it to the most number of buyers. 92% of homes are sold using an agent as it's usually simpler, more cost effective overall and means you have someone representing your interests.
Buyers
How much money do I need to buy my first house?
Your lender will be able to give you the best answer but there are many different loan programs depending on your income and credit score. We've helped people buy houses from 0% down to all cash! If you'd like us to put you in touch with a few lenders let us know.
Your lender will be able to give you the best answer but there are many different loan programs depending on your income and credit score. We've helped people buy houses from 0% down to all cash! If you'd like us to put you in touch with a few lenders let us know.
How long does it take to buy a house?
Once you find a home it can take anywhere from a few weeks to 6 months or more with around 3 months being a general average although it can vary substantially. It often depends on how it's being funded, whether or not you find the right home and if any issues arise for instance during the inspection or appraisal. However we'll work with you for as long as it takes, even if you don't plan on buying for another 6 months or so it's good to prepare by talking to an agent now so that you understand the process and we can keep a look out just in case your dream home comes on the market!
Once you find a home it can take anywhere from a few weeks to 6 months or more with around 3 months being a general average although it can vary substantially. It often depends on how it's being funded, whether or not you find the right home and if any issues arise for instance during the inspection or appraisal. However we'll work with you for as long as it takes, even if you don't plan on buying for another 6 months or so it's good to prepare by talking to an agent now so that you understand the process and we can keep a look out just in case your dream home comes on the market!
How much house can I afford?
Getting pre-qualified by a lender is the best way to find the answer to this. While you could try doing various debt-to-income calculations yourself or use an automated online model it's best to talk to a mortgage broker or banker as there are simply so many variables. We can recommend a few if you'd like!
Getting pre-qualified by a lender is the best way to find the answer to this. While you could try doing various debt-to-income calculations yourself or use an automated online model it's best to talk to a mortgage broker or banker as there are simply so many variables. We can recommend a few if you'd like!
Is it better to buy or rent?
This comes down to every individuals personal circumstances but if you plan on living somewhere for at least 3+ years, buying a house usually starts to make more sense financially. The benefits include building equity in an asset (essentially putting a portion of your housing payment into savings as opposed to spending it all on rent), having a fixed payment while rents increase each year, control over your property, and owning an asset that increases in value long term (as long as you can hold onto it through the downturns). Closing costs are usually the biggest drawback which is why the longer you stay in it the more it makes sense to buy, and when you start getting into 10+ years of ownership the financial benefits can add up into the tens and hundreds of thousands.
This comes down to every individuals personal circumstances but if you plan on living somewhere for at least 3+ years, buying a house usually starts to make more sense financially. The benefits include building equity in an asset (essentially putting a portion of your housing payment into savings as opposed to spending it all on rent), having a fixed payment while rents increase each year, control over your property, and owning an asset that increases in value long term (as long as you can hold onto it through the downturns). Closing costs are usually the biggest drawback which is why the longer you stay in it the more it makes sense to buy, and when you start getting into 10+ years of ownership the financial benefits can add up into the tens and hundreds of thousands.
What's the process for buying a house (in Arizona)?
-Step 1: Find out how much you can afford by getting pre-qualified with a lender or getting proof of funds together if paying cash. One of the two is required in order to make an offer.
-Step 2: Find the perfect home. We'll look through all of the MLS listings to see what's available and narrow down your search criteria. Get set up on a search of houses currently on the market so you get notified as soon as the right home becomes available (the best homes can go under contract within a day or two). Also remember many online services show homes as active when they are actually under contract and unavailable.
-Step 3: Make an offer. We will guide you through the contract and all of the documents that go along with the Arizona purchase contract.
-Step 4: Open escrow. Once your contract is accepted you deposit your earnest money into an escrow account with a title company. The title company performs many tasks to ensure the home can be legally transferred to you.
-Step 5: Inspections. The typical inspection period is 10 days from contract acceptance to get all of your home inspections done. During this time you must complete any and all inspections that are important to you. We'll walk you through all these steps at the time.
-Step 6: Appraisal. Unless you are paying all cash, your lender will order an appraisal to make sure the value of the home is truly as much as you've agreed to pay. As long as it appraises for as much as you've agreed to pay you'll continue to step 7. If it doesn't appraise we'll walk you through various options at the time.
-Step 7: Final Walkthrough. Within a few days before closing you'll walk through the home to check it's in the same condition as when the offer was placed and that any agreed upon repairs are complete.
-Step 8: Signing and Recording. Once the escrow account is fully funded and you sign the remaining title documents you'll be good to close on the agreed upon date, at which point the title company will record your new home with the county. Once recorded, you will receive the keys and you're now a homeowner!
Ready to get started? Contact us today!
-Step 1: Find out how much you can afford by getting pre-qualified with a lender or getting proof of funds together if paying cash. One of the two is required in order to make an offer.
-Step 2: Find the perfect home. We'll look through all of the MLS listings to see what's available and narrow down your search criteria. Get set up on a search of houses currently on the market so you get notified as soon as the right home becomes available (the best homes can go under contract within a day or two). Also remember many online services show homes as active when they are actually under contract and unavailable.
-Step 3: Make an offer. We will guide you through the contract and all of the documents that go along with the Arizona purchase contract.
-Step 4: Open escrow. Once your contract is accepted you deposit your earnest money into an escrow account with a title company. The title company performs many tasks to ensure the home can be legally transferred to you.
-Step 5: Inspections. The typical inspection period is 10 days from contract acceptance to get all of your home inspections done. During this time you must complete any and all inspections that are important to you. We'll walk you through all these steps at the time.
-Step 6: Appraisal. Unless you are paying all cash, your lender will order an appraisal to make sure the value of the home is truly as much as you've agreed to pay. As long as it appraises for as much as you've agreed to pay you'll continue to step 7. If it doesn't appraise we'll walk you through various options at the time.
-Step 7: Final Walkthrough. Within a few days before closing you'll walk through the home to check it's in the same condition as when the offer was placed and that any agreed upon repairs are complete.
-Step 8: Signing and Recording. Once the escrow account is fully funded and you sign the remaining title documents you'll be good to close on the agreed upon date, at which point the title company will record your new home with the county. Once recorded, you will receive the keys and you're now a homeowner!
Ready to get started? Contact us today!
Why do I need an agent, can't I just find and buy a house myself?
In order to get accurate and up to date information on what homes are available you'll need to go through a licensed real estate agent who has access to the local Multiple Listing Service (MLS). Websites that pull data from the MLS don't always show the accurate status of the home. This can become frustrating when you find out the home is already under contract with another buyer. We can search the MLS using extremely specific criteria and be confident that the results are accurate, then once you've selected some of your favorites, we'll be able to show you the house as soon as possible using our lockbox key. If you like a house, we'll be able to write up a contract for you and negotiate offers with the knowledge and experience we've gained over the years. If you're new to buying a house we'll walk you through the whole buying process every step of the way, from finding a lender, opening escrow, title, inspections, appraisals, walkthroughs, signings, all of the many different things involved with buying a property. This is why according to the 2016 NAR report, 88% of buyers used an agent with 6% buying directly from a builder or builders agent.
In order to get accurate and up to date information on what homes are available you'll need to go through a licensed real estate agent who has access to the local Multiple Listing Service (MLS). Websites that pull data from the MLS don't always show the accurate status of the home. This can become frustrating when you find out the home is already under contract with another buyer. We can search the MLS using extremely specific criteria and be confident that the results are accurate, then once you've selected some of your favorites, we'll be able to show you the house as soon as possible using our lockbox key. If you like a house, we'll be able to write up a contract for you and negotiate offers with the knowledge and experience we've gained over the years. If you're new to buying a house we'll walk you through the whole buying process every step of the way, from finding a lender, opening escrow, title, inspections, appraisals, walkthroughs, signings, all of the many different things involved with buying a property. This is why according to the 2016 NAR report, 88% of buyers used an agent with 6% buying directly from a builder or builders agent.
I found a house without the help of an agent and I want to buy it, what's next?
It's strongly recommended to seek out an impartial agent to write up an offer and represent you throughout the transaction. While it may be tempting to ask the Listing Agent to write up a contract or represent you, always remember that the Listing Agent has a fiduciary duty to the seller and there can be conflicts of interests. Given the size and scope of buying such a large asset, it's not recommended to go into it without a knowledgeable and experienced agent who fully represents your interests and not that of the sellers.
It's strongly recommended to seek out an impartial agent to write up an offer and represent you throughout the transaction. While it may be tempting to ask the Listing Agent to write up a contract or represent you, always remember that the Listing Agent has a fiduciary duty to the seller and there can be conflicts of interests. Given the size and scope of buying such a large asset, it's not recommended to go into it without a knowledgeable and experienced agent who fully represents your interests and not that of the sellers.
General Questions
What's the difference between a REALTOR® and a real estate agent?
Every REALTOR® is a licensed real estate agent but not every agent is a REALTOR®. A REALTOR® is an agent who is a member of the National Association of Realtors as well as their state and local association and are held to a higher standard of ethics. Every agent I work with is a REALTOR® so you can be confident they're held to that higher standard.
Every REALTOR® is a licensed real estate agent but not every agent is a REALTOR®. A REALTOR® is an agent who is a member of the National Association of Realtors as well as their state and local association and are held to a higher standard of ethics. Every agent I work with is a REALTOR® so you can be confident they're held to that higher standard.
How many licensed real estate agents are there in Arizona?
Over 70,000 people hold an Arizona Real Estate license according to ADRE. This is why it's so important to work with a top agent who is full time and experienced.
Over 70,000 people hold an Arizona Real Estate license according to ADRE. This is why it's so important to work with a top agent who is full time and experienced.
What are some of the forms I'll need to know and read?
Here's a list of the main forms related to buying/selling houses in Arizona, it's good to get familiarized with them before you're put on the spot to sign things:
Buyer Advisory - Primary resource for anyone looking to buy a house. It's strongly recommended to read through it especially if you're a first time buyer as there's so much good information. Agents are required to provide it to you and have you sign at the bottom to confirm you've received it.
Real Estate Agency Disclosure And Election (READE) - This is purely a disclosure form to explain who your agent is representing and if you agree to that. It doesn't oblige you to work with that agent or form any sort of commitment, it's designed to make consumers aware of who's representing who and disclose if there are any conflicts of interest on the brokers part.
Residential Purchase Contract - This is the boilerplate contract most buyers will use when purchasing a house in Arizona. We can assist in filling it out, then it'll get sent to the seller for them to sign or reject. Definitely read through it so you know exactly what you're agreeing to before you submit an offer!
Seller's Property Disclosure Statement (SPDS) - If you get your contract accepted, the seller has 3 days to provide a completed version of this form to the buyer. It's a legal requirement that sellers disclose any material facts that they're aware of about the house, even if they're not asked or don't use this form.
Buyer's Inspection Notice And Seller's Response (BINSR) - This is where a buyer gets to list any items you disapprove of that come up during the inspection period, and gives the seller the opportunity to respond.
Residential Lease Agreement - This is the boilerplate form for lease agreements although some property management companies will use their own. If you're interesting in leasing it's useful to read and know this form whether you're a landlord or tenant.
Arizona Residential Landlord And Tenant Act (ARLTA) - This is another must know for landlords and tenants as it goes into detail about the rights and responsibilities of each side under the law and supersedes any agreements that were signed.
Here's a list of the main forms related to buying/selling houses in Arizona, it's good to get familiarized with them before you're put on the spot to sign things:
Buyer Advisory - Primary resource for anyone looking to buy a house. It's strongly recommended to read through it especially if you're a first time buyer as there's so much good information. Agents are required to provide it to you and have you sign at the bottom to confirm you've received it.
Real Estate Agency Disclosure And Election (READE) - This is purely a disclosure form to explain who your agent is representing and if you agree to that. It doesn't oblige you to work with that agent or form any sort of commitment, it's designed to make consumers aware of who's representing who and disclose if there are any conflicts of interest on the brokers part.
Residential Purchase Contract - This is the boilerplate contract most buyers will use when purchasing a house in Arizona. We can assist in filling it out, then it'll get sent to the seller for them to sign or reject. Definitely read through it so you know exactly what you're agreeing to before you submit an offer!
Seller's Property Disclosure Statement (SPDS) - If you get your contract accepted, the seller has 3 days to provide a completed version of this form to the buyer. It's a legal requirement that sellers disclose any material facts that they're aware of about the house, even if they're not asked or don't use this form.
Buyer's Inspection Notice And Seller's Response (BINSR) - This is where a buyer gets to list any items you disapprove of that come up during the inspection period, and gives the seller the opportunity to respond.
Residential Lease Agreement - This is the boilerplate form for lease agreements although some property management companies will use their own. If you're interesting in leasing it's useful to read and know this form whether you're a landlord or tenant.
Arizona Residential Landlord And Tenant Act (ARLTA) - This is another must know for landlords and tenants as it goes into detail about the rights and responsibilities of each side under the law and supersedes any agreements that were signed.
Have a question that isn't here?
Contact us and we'll be happy to answer!
Contact us and we'll be happy to answer!