Why Is Location So Important in Real Estate?

Why Is LocationSo Important in Real Estate?

Location should be your first consideration when purchasing a new home. And your second. And your third. The reasoning behind this advice is simple: In some locations, homes are desir- able. In other areas, they are not. Desirable homes receive a higher demand from potential home buyers, which means you should be able to sell your property quickly. And since high demand pushes up prices, you should also be able to sell it at a good price.

Why Choose the Best Location over the Biggest House?

What is it about location that makes it so vital to your real estate selection? Put simply: it’s the one variable that is out of your control. The layout, condition, and amenities of any home can be changed with a little money and imagination. You can even change the size of your house with the right permissions. The one thing you can’t change? The property’s location. This is why real estate agents advise their clients to buy the worst house on the best street̶you can always add value later by fixing up the property. In the meantime, you get all the community and resale benefits of a premium location.

Location Affects Quality of Life

Location is important because “home” is more than just the physical structure where you eat and sleep. The neighborhood and surrounding community have a big impact on your quality of life. For example, most people have to work, but if there are no major employers in the area, or if the public transportation is lacking, getting to work will be unnecessarily hard. You might find bargains in these areas, but the trade-off is time spent on your daily commute. For most people, time is a priceless commodity for which they are willing to pay, so a more expensive property closer to work is preferable.

Access to Jobs, Schools, and Entertainment

Well-located properties typically have good transportation infra- structure and are located near a concentration of jobs. Other sought-after attributes include a top-rated school district, low crime, and access to shops, restaurants, and entertainment. When you buy a home in a location with these features, it’s usually a solid long- term investment. A premium location is always more expensive, so for tight budgets some form of compromise is inevitable. The advice remains the same, though: always buy in the best location you can afford.

Article by Any Presentations 
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4 Reasons to Sell Your Home During the Holidays

1) Motivated Buyers – Those who take the time to look during the busy holidays are
more likely to be serious buyers!

2) Less Competition – With less homes on
the market during the holidays, the serious
buyers have fewer homes to choose from.

3) Homes Show Better Decorated – What
a great way to capitalize on how cozy and
inviting your home looks when decorated
for the holidays.

4) Winter Visitors and Snowbirds – People
visiting the Valley could be a sale for you.

5 Smart Upgrades for the Most-used Rooms in your Home

Courtesy of Brandpoint

Kitchens, bathrooms and bedrooms are typically the rooms in any home that get the most use, which could also be why homeowners, when surveyed, consistently cite those rooms as the ones they most want to renovate. It makes perfect sense to upgrade the rooms where you spend the most time, but in high-traffic areas, you can't afford to make changes just for the sake of cosmetics. You want improvements that can enhance your enjoyment of a room and its functionality.

Here are five smart improvement ideas from Velux America:

1. Add organization/storage
Clutter and chaos not only make a room function less efficiently, it can impact your mood as well. Adding organization and storage to rooms where clutter typically collects - such as bedrooms, living rooms and game rooms - is an easy, cost-effective way to improve the function of the room and how you feel about spending time in it.

In bedrooms, maximize closet space by installing organization units. A variety of manufacturers offer ready-made units you can install yourself. Or, for a bit more investment, you can have a professional closet organizer custom-make a unit to fit your space and needs. In living rooms and game rooms, built-in shelving and cabinetry is a functional and beautiful way to improve organization.

2. Improve ventilation
Air flow is critical to the health of your home and everyone who lives in it. Ventilation in kitchens and bathrooms carries away excess moisture that can cause mold and mildew, and creates a fresher, more healthful environment by exhausting stale indoor air.

Bathrooms should be equipped with exhaust fans, and kitchen hoods should vent to the exterior of your home whenever possible.

3. Replace older, inefficient fixtures and appliances
Fixtures and appliances are key elements of kitchens and bathrooms. Older ones not only look dated and shabby, they can cost you money because they use more electricity and water than newer, more efficient models.

Replacing old faucets, shower heads, dishwashers and washing machines with newer models that use less water can reduce your water bill and give kitchens and bathrooms a whole new look. Energy Star-qualified appliances such as stoves, clothes dryers, refrigerators and washers also use less electricity than older appliances, so you can also lower your energy bills.

4. Freshen the foundations
Every room benefits from a good foundation, and that doesn't just mean sturdy flooring. Wall color, flooring materials and trim are fundamental elements in any room. Simply repainting walls and woodwork can completely change the way any room looks. Or, if you like the colors you have, a fresh coat in the same color will make the room look brighter and newer. Replacing worn carpeting or dated tiles, or refinishing a hardwood floor are also great ways to improve the foundations of any room.

5. Add natural light
Most rooms in the home look better and are more functional in natural light, and more daylight can help reduce the need for artificial light. What's more, there's no arguing the positive mental and physical health effects of natural light. Daylight stimulates the body to produce Vitamin D and boosts brain levels of serotonin, which is thought to be associated with positive moods.

Adding skylights is a practical, cost-effective and attractive way to bring more natural light into virtually any room. Remote-controlled, solar-powered fresh-air skylights from Velux America provide not just natural light, but passive ventilation, a real plus in kitchens and baths.

In kitchens, Energy Star-qualified fresh air skylights increase natural light and ventilation without requiring any loss of wall space you could better use for cabinetry. In bathrooms, they provide the perfect combination of privacy and healthful natural light and ventilation.

Visit www.whyskylights.com to learn more.

Three Factors for Determining Real Estate Comps

Three Factors for Determining Real Estate Comps

Whether you are buying a new home or selling your old one, “comps,” or comparable sales, are important. As a seller, they can be used as benchmarks to properly price your house. The last thing you want to do is undervalue it, which could end up losing you money, or overvalue it, which could make your prop- erty sit on the market for way too long. As a buyer, comps pro- vide a ballpark figure that you can expect to pay in the current real estate market and, thus, help prevent you from over- paying for a property. The following are three things real estate agents keep in mind when looking at comps:

Look at the Location

As a seller, one of the first things to consider when looking for comps is location. This means looking at homes sold in your neighborhood. The same goes for buyers, who should compare nearby houses for sale to determine their house’s value. If you can’t find comps from the same neighborhood, then keep other boundaries in mind, such as school districts.

When Was the Home Last Sold?

The real estate market fluctuates a lot over the years, which means values can rise and dip substantially over time. If you can, look at houses that were sold within the last six months for a good comp. Even better, look at pending sales. Pending sales are deals in place between buyers and sellers that haven’t gone through yet, which means they are the most up-to-date comps you’ll find. Obviously, pending sales are something you don’t have access to on your own, so it’s helpful to have the assistance of a real estate agent who does have access to that kind of information.

What Are the Home’s Features?

Location and time frame are huge factors in find- ing a good comp but so are the home’s features. A one-bedroom, one-bathroom home is a bad comp for a three-bedroom, two-bathroom home. These aren’t the only features that should be compared, though. A house with a luxury kitchen full of updated, energy-efficient appliances may sell for more than a house with a normal kitchen full of out-dated appliances. Obviously, the odds that you’ll find a perfect comp, whether you’re a buyer or seller, are pretty slim when you consider that most houses have different features. It’s something you should keep in mind, though, when evaluating comps to get a better understanding of how the home you want to buy or sell compares in terms of value. 
Article by Any Presentations 

Always be up to date with where your real estate market stands by visiting www.SilverAllianceRealtyAZ.com. If you are looking to rent or purchase a home in Arizona click here: www.SilverAllianceAZHomeSearch.com

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13 Priceless Staging Tips

Applying these priceless and simple staging tips will help make a great first impression when your home is being shown to potential buyers!

1. Keep everything clean. A messy or dirty home will cause prospective buyers to notice every flaw.
2. Clear all clutter from counter tops. Stash or throw out newspapers, magazines, junk mail, etc.
3. Wipe kitchen counter. Place dirty dishes in dishwasher.
4. Let the light in. Raise shades, open blinds, pull back the curtains, and turn on the lights (day or night).
5. Close the windows to eliminate street noise.
6. Try to get rid of odors such as tobacco, pets, cooking, etc., but don’t overdo air fresheners or potpourri. Fresh baked bread, cookies, and cinnamon can make a positive impact.
7. Wipe bathroom counters, flush and close toilets.
8. Check that sinks and tubs are scrubbed and unstained.
9. Hang clean attractive guest towels in the bathrooms.
10. If possible, you, your children, and pets should be gone while your home is being shown. Some potential buyers might be afraid of unfamiliar animals.
11. If you are home during a showing, keep noise down, turn off TV. Soft instrumental radio at low volume is fine, but avoid vocals.
12. Make beds with attractive spreads.
13. Clean trash cans and put them out of site.
14. Keep the garage door closed and the driveway clear. Park autos and campers away from your home during showing.

Easily search all homes for sale in Arizona by visiting www.SilverAllianceAZHomeSearch.com
Also, stay connected by following us on Facebook www.Facebook.com/Platt.Team.AZ

Thinking About Buying A Home - 6 Ways to Improve Your Credit Score

START HERE with Silver Alliance Realty

Step 1: Get Credit Score into Great Shape

The higher the credit score, the lower the mortgage interest rate.  Most lenders agree that a credit score of 740 or higher qualify buyers for the best mortgage interest rates.

Here are some helpful tips to increase your credit score:

  

o   Keep your balance low in relation to your available credit

o   Pay your bills on time

o   Make more than the minimum payment

o   Don’t open a lot of new accounts over a short period of time.

o   Pay off credit card debt rather than transferring it

o   Review your credit report regularly and correct errors

(information provided by www.whatsmyscore.org)

Consult with your lender who will give you the best strategy to improve your credit score.

Step 2: Contact Tom and Mary!!
www.SilverAllianceRealtyAZ.com
www.Facebook.com/Platt.Team.AZ
Tom Platt
(602) 615-8470
Tom@PlattTeamAZ.com

If you are currently not working with a lender, we can provide you with the names of experienced and trusted lenders we frequently work with.

We receive no compensation from any lenders we refer to our clients.  We work with these lenders because they have repeatedly gotten the job done for our clients. 

5 Forces Changing the Real Estate Industry

The global service economy is currently being transformed by five powerful forces. These forces include government policies, social changes, business trends, advances in information technology, and globalisation (Wirtz et al., 2012). Being aware of these and how they effect the real estate industry will help realtors strategically plan for the future.

Government Policies

Whether organisations like it or not, government institutions do have a hand in effecting the service economy. By implementing regulations and policies, governments can change the way an industry is run. For example, government policies effected the real estate industry in the United State by enforcing a new lending law, TRID, in October of 2015. Before TRID real estate transactions were able to close quickly, even with changes to buyer’s closing costs. After the law was implemented, transactions take three to five business days longer if any minimal changes were made to closing costs (Winzelberg, 2015).

Social Changes

As society changes the service industry follows. Social changes can include consumer expectations and lifestyles (Wirtz et al., 2012). In the real estate industry, social changes can clearly be seen between generations. As the world’s baby boomer generation ages, more people are likely to purchase homes in retirement communities or sell their current homes in order to afford assisted living. Additionally, Generation Y’s are not purchasing homes as a result of school debt and an increased desire to purchase experiences and travel internationally.

Business Trends

The third force that is transforming the service landscape are business trends. Considering a major business trend is moving toward self service technologies, it is extremely crucial for realtors to showcase why being represented by a real person is worth the extra money. Another business trend that is growing is the importance of networking and building business allies (Wirtz et al., 2012). Many real estate brokerages have strategic partnerships with home warranty companies, title agencies, lenders, handymen, and electricians.

Advances in Information Technology

Arguably the strongest force that is effecting the service economy is the rapid advancement in information technology. The internet and mobile devices make it possible for consumers to have endless knowledge at their fingertips. Realtors are adapting to this force by offering free home searches on their websites. Consumers are enjoying the power of being informed and have come to expect it. Continuously, offering extended services that are embedded in technology is a great way to build relationships with your consumer.

Globalisation

In today’s economy, it is normal and quite easy for a customer or businesses to look outside of their own country in order to satisfy a specific consumer need. This factor is the reason why globalisation is the final force shaping the service economy. Never before has global travel or the transfer of information across continents been so convenient. The real estate industry needs to be prepared to interact with foreign clients on a more frequent basis. Global citizens expect real estate professionals to be able to work with international banks and entities. 

Always be up to date with where your real estate market stands by visiting www.SilverAllianceRealtyAZ.com. If you are looking to rent or purchase a home in Arizona Search Arizona Homes For Sale here.

Follow us on Facebook at www.Facebook.com/Platt.Team.AZ

References

Winzelberg, D. (2015, October 26). The Impact of TRID. Retrieved July 23, 2016.

Wirtz, J., Chew, P., & Lovelock, C. H. (2012). Essentials of Services Marketing (2nd ed.). Pearson.

Build Your Dream Home With Representation

Silver Alliance Realty

*Per builders’ rules, we as your REALTORS® must be present with you on your first visit to a new home site.

5 Reasons to be Represented in your New Home Purchase:

1) Buyer Representation by a skilled Buyer’s Agent is FREE to the buyer. Take advantage of it!

2) Builders will not give discounts to an unrepresented buyer.  Commissions by builders to real estate brokers are contracted and will not change.

3) The site agent is legally bound to represent the best interests of the Builder, NOT the Home Buyer. This period of non-representation is from date of written contract to date of move in.

4) Experienced Buyer’s Agent can and will negotiate in the best interests of their Home Buyer right up to the close of escrow.

5) Experienced Buyer’s Agent will be there for their clients at the Home Design Center and all Final Inspections to be sure all items go smoothly.

Easily search all homes for sale in Arizona by visiting www.SilverAllianceAZHomeSearch.com
Also, stay connected by following us on Facebook www.Facebook.com/Platt.Team.AZ

Update From Your Broker

Update From Your Broker

Hello to Everyone,

Hope everyone has enjoyed this beautiful spring here in the Valley.  Let’s hope our summer weather is as nice as our spring has been!

Home sales remained seasonally brisk in the first four months of 2016. There were 27,915 total homes sold.   Last year at this same time in 2015, there were a total of 26,769 homes sold.  We are projecting steady housing demand as we move towards the annual peak sales months of June and July.

We currently have about 27,000 active listings. Our 2016 average sales prices for the Valley are slightly up 2.3% from 2015. Average days to sell a home are 78 days.  Of course, these numbers vary from city to city and even within neighborhoods.  

Please call Tom or me with any questions you may have. 

Best wishes for a wonderful summer,

Mary

www.SilverAllianceAZHomeSearch.com
Follow us on Facebook at www.Facebook.com/Platt.Team.AZ

Don't Be Fooled by the "We Buy Houses" Sales Pitch

The latest sales gimmick in real estate is a letter that homeowners are receiving in the mail from some real estate agents promising to buy their home in “as is” condition, for cash, with a fast close, and with no costs. While this offer sounds like it is too good to be true; it probably is!

The fine print of the offer probably has the following items/restrictions/exceptions included:

• Offers are typically below “fair market value”. These are ‘for profit’ companies – their profits, not the homeowner’s profits.
• Some offers have a “no commission” sale, but they do charge a ‘paperwork fee’ which could be more than the standard market commission.
• The original price offer may get drastically reduced after the home inspection is done to account for any problems their home may have. What a homeowner was first promised as a sales price may get slashed somewhere along the process.
• Remember that these agents who offer to “buy your home” are representing themselves in this transaction; Not You, the seller. This may create a conflict of interest and may result in the homeowner being taken advantage of.

Remember to protect yourself by talking with a licensed REALTOR® who will represent you and watch out for your best interests. These deals could help someone who needs money quickly from the sale of their home. But for the majority of homeowners, selling their home in the traditional way with a licensed REALTOR® may give them the highest sales price for their home.

For Professional and Quality service call Mary Platt TODAY! Furthermore, to get an idea of what homes are selling for in your area visit www.SilverAllianceAZHomeSearch.com. Also, stay connected by following us on Facebook www.Facebook.com/Platt.Team.AZ