Archives for October 2013

Halloween Happenings in Scottsdale Area by Joe Szabo, Scottsdale Real Estate Team

October 28, 2013 szabogroup

Halloween parties can be great fun for children, but adults love this time of year as well. Here are some restaurants, hotels and bars that let me know that they are having a special Halloween event. Some are family-oriented, and some are for adults only. I add listings here as I receive them, so check back often as Halloween draws near. They are listed in date order.

_{All dates, times, prices and offerings are subject to change without notice.}

Pumpkins at the Peak at Pointe Hilton Squaw Peak

Pointe Hilton Squaw Peak Resort will be transforming its River Ranch into a festive, “spooktacular” carnival where guests and locals are invited to indulge in Halloween treats, family-fun activities, live music and an opportunity to give back to the Phoenix community. Guests are asked to bring two cans of food or $5 per person to benefit St. Mary’s Food Bank, which works to alleviate hunger in the Valley. Parents and children will experience more than 20 activities and craft booths ranging from fortune telling to ring tosses. Children are encouraged to wear costumes.
See pictures of Halloween festivities at Pointe Hilton Squaw Peak.

Pointe Hilton Squaw Peak, 7677 North 16th Street, Phoenix
In 2013: Friday, October 25 from 5 p.m. to 7 p.m.

The Shout House’s Black Light White Out Halloween Party

Windows will be blacked out and normal lighting will be replaced with black lights so the whole club will glow. A variety of electric drink specials will be served. Dress in anything that glows, such as white clothing, glow bracelets and necklaces and glow in the dark nail polish and lipstick. For those who want to really glow, The Shout House will offer a paint station, where guests can accessorize themselves with non-stainable, neon, glow in the dark paint. The piano players will, from time to time, cover their hands in glow in the dark paint and play without stage lights. A 21-and-over, non-stop, audience request driven show, the performers involve audience members in sing-alongs, roasts and on-stage interaction. Without a reservation, admission to The Shout House is $5 per person. For more information or reservations, call 623-772-1500.

Westgate Entertainment District
In 2013: Friday, October 25 from 7 p.m. to close

Cave Creek Wicked Pub Crawl

Courtesy Cave Creek Wicked

Take the free fun bus to five of the most popular saloons in Cave Creek for wicked staggered costume contests, specialty themed cocktails and prizes. Big Earls Greasy Eats, Smokehouse Grill, Buffalo Chip Saloon, Harold’s Cave Creek Corral, Tap Haus. 21+ only.
See pictures of the Cave Creek Wicked Pub Crawl.

Various bars in Cave Creek
In 2013: Saturday, October 26 from 6 p.m. to 2 a.m.

Halloween Howl at The Venue Scottsdale

The Halloween Party, sponsored by Hot 97.5, is a benefit for The Boys & Girls Clubs of Metro Phoenix. A DJ will be playing music. Costume contests with cash prizes, drink specials, photo booth, dancing, onsite soothsayers and readings. General admission is $30 and VIP is $60. 21+ only.

The Venue Scottsdale, 7117 E 3rd Avenue, Scottsdale
In 2013: Saturday, October 26 from 8 p.m. to 2 a.m.

Resident Evil at W Scottsdale

W Scottsdale will be transformed into Resident Evil. Watch the dead rise from the ground. Climb the steps of W Scottsdale, where your fate will be determined. Will you survive? 21+ only. Tickets are $25 (plus fee) online. DJ on the WET Deck and a performer in the Living Room. For VIP table reservations, call 602.405.0099.

W Scottsdale, 7277 E. Camelback Road, Scottsdale
In 2013: Saturday, October 26, doors open at 8 p.m.

Haunted Hotel Ball at Hotel Valley Ho

Local DJs Decipha and Tranzit will be spinning dance, house, top 40, and hip-hop music in the ballrooms. Partygoers are encouraged to dress their best for a chance to win the costume contest, with a $1,000 cash prize. Early-bird tickets (limited number) are $30. Cash bar. VIP table packages are $750 and include eight tickets, reserved seating, two premium bottles, and a private cocktail server. 21+ only. Advanced tickets are recommended, as the event has sold out every year. Hotel rooms are offered at a special rate of $199 nightly Thursday, October 24 through Monday, October 28. Reservations can be made at www.hotelvalleyho.com (promo code “boo”), or at 480.248.2000 by mentioning “Haunted Ball.” Hotel room offer subject to availability, and cannot be combined with other offers.
See pictures of the Haunted Hotel Ball!

Hotel Valley Ho, 6850 E. Main St., Scottsdale
In 2013: Saturday, October 26 from 9 p.m. to 2 a.m.

Pumpkin Carving Contest at Four Peaks Brewing Company

Pumpkin carving contest at the brewery prizes. Family friendly, but anyone under 21 years of age must be accompanied by a parent. Prizes.

1340 East 8th Street, Tempe
In 2013: Tuesday, October 29 from 6 p.m. to 10 p.m.

Nightmare on Princess Drive Haunted Halloween Ball

Fairmont Scottsdale Princess

With this year’s theme of “Zombies: The Apocalypse,” guests are greeted at the haunted hotel in grand style, with a walk through the murky fog on the star-studded black carpet to The Plaza Bar’s Stone Rose Lounge’s moonlit, fire pit patios which are transformed into a flood of fire with red and amber lighting elements, fixtures and features.The moat surrounding the outdoor bar will be colored red, with red glass orbs suspended from above, while the entrance to the lounge is draped in a zombie-themed mural with a 3-D zombie chase scene on the catwalk. The Plaza Bar servers will be dressed as zombies and the bartenders as zombie-hunters. A DJ will mix the best lounge and dance music, while a vampire pianist tickles the ivories on a grand piano. Influencing the fun, tantalizing potions include the “Flash Fire,”Zomberry,” and the “Pale Horse.” A costume contest at midnight brings a coffin full of prizes. Admission to the party is complimentary. Guys and ghouls can also R.I.P. in comfort with a reserved table with bottle service by calling Stone Rose Lounge at 480-419-3190. Event parking is $10 for self-parking and $12 for valet. 21+ only.
See a picture of Halloween festivities at Fairmont Scottsdale Princess.

The Plaza Bar at Fairmont Scottsdale Princess, 7575 East Princess Dr., Scottsdale
In 2013: Saturday, October 26 from 9 p.m. to 2 a.m.

Zombie Prom Night

Calico Jack’s

The Zombie Prom King and Queen Zombie will be crowned, Zombie Run to follow at midnight.

Calico Jack’s Mexican Cantina, Westgate Entertainment District
In 2013: Saturday, October 26

Keeping Remodeling Costs Down by Joe Szabo, Scottsdale Real Estate Team

October 25, 2013 szabogroup

Ready to put a little “sweat equity” into your home? Don’t sweat it. It doesn’t mean you actually have to do your entire remodel yourself. After all, you’re not a professional contractor, right? That’s why you’re hiring a pro. But if you’re willing to roll up your sleeves and get a little dirty you can save yourself some money while adding to the value of your home.

Do It Yourself

It is possible to cut the costs of a remodel by doing your own demolition, including such chores as tearing out carpet, removing lighting and plumbing fixtures, and clearing the kitchen of old appliances. You can also cut down on costs by doing the painting yourself and the clean up. How much you’ll save by doing these things yourself depends on many factors, including the size of your remodel. It’s possible to save $1,000 or more on a major kitchen remodel by doing some of the demolition yourself. And if you’re good at painting, and the project is sizable, you can save possibly several thousand dollars or more by painting yourself. Don’t mind doing major clean up? Again, if you do it you could save $500 to several thousand dollars.

But before you leap in and negotiate with your contractor over how much you’ll save if you add a little sweat equity to the project, take a deep breath and think it through. Be realistic. Your contractor may cut the cost of the project by $1,000 if you agree to do your own kitchen demolition, meaning removing all appliances, removing plumbing fixtures, and knocking down a half wall. Do you have the tools for the project? Do you know how to turn off the water main and the gas while you take out appliances? If you get the refrigerator out of the kitchen, then what? Do you have a truck to take it to the dump? And if you’re a weekend warrior swinging a sledge hammer for the first time in 25 years, what happens if you pull your back and can’t get back to your office the next day?

Cleaning up after a construction project also is likely to be a bigger and much messier task that you might imagine You’ll need a shop vacuum cleaner, for starters, and you’ll have to figure out how to dispose of a lot of leftover bits and pieces of construction materials ranging from insulation and bits of drywall to wads of duct tape. Sound fun?

Joe Szabo Scottsdale Real Estate for Sale

If those “sweat equity” opportunities don’t sound inviting, there are others that can save you money. Most people can paint interior walls and cabinets. The risk you run by painting yourself of course is moving in without getting the painting done which will not only diminish your own pride in the remodel but is ultimately harmful to cabinets, wood work and drywall, all of which need protective coats of paint.

Other Cost Cutters

For many people, there are ways to minimize costs that don’t involve getting in overalls and wielding a paintbrush or sledgehammer. For instance, if you’re doing a kitchen or bathroom remodel, take the time to really research appliances and fixtures. Make realistic decisions about whether the $6,000 “professional” cooking range is really worth $5,000 more than a very good, less glitzy one. Do you really need the Scandinavian bathroom fixtures that look like modern sculpture and cost as much as a half a year of college tuition? Maybe. Maybe not.

The same principle applies to kitchen and other cabinets. Yes, custom cabinets are often beautiful. But you might be surprised at how good-looking and sturdy some of the ready-made cabinets are at home improvement centers. Again, you might end up saving $10,000 on kitchen cabinets by purchasing them ready made rather than having them custom built.

Finally, the best way to cut costs is work out a good plan with your contractor before the project starts, then stick to it. Change orders cost time and money. Don’t make them.

Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit https://scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.

What to Expect at a Closing by Joe Szabo, Scottsdale Real Estate Team

October 21, 2013 szabogroup

Joe Szabo Scottsdale Real Estate for Sale

You’ve survived house hunting and the bidding and negotiating on your new home, and now it’s time to make it yours. But to do so, you have to sit down with various people, which may include the seller, your real estate agent, title and mortgage company officials and possibly your attorney at what’s known in real estate lingo as the “closing table.”

At closing, you will close on the purchase of your new home, and if you are taking out a mortgage, on your home loan, as well. The whole process may take about an hour. Here’s what’s expected of you:

Complete the walkthrough

Before the actual closing, you’ll most likely have the opportunity to perform a walkthrough of the property and confirm that the condition of the home is as it should be, as specified in the sales contract.
Bring enough cash

At closing, you’ll be paying for your share of the closing costs, and will be bringing the down payment, so be sure to bring a certified check or a cashier’s check. Your lender will provide a lender’s check for the remaining balance that’s due on the home.

Your HUD Uniform Settlement Statement (which both you and the seller will sign) will detail the closing costs (plus all the monies involved in the transaction), as well as who is expected to pay them.
Show id

You will also be required to show proof of your identification, such as your driver’s license or passport.
Proof of insurance

Bring a copy of and proof of payment for your homeowner’s insurance, plus your flood insurance policy, if you have one. Your lender may want to review these before allowing you to close on the home.
Sign on the dotted line

To transfer ownership of the home, both the buyer and seller will be required to sign several documents.

You may be required to review and sign the purchase agreement, a promissory note for your loan, mortgage documents, title documents, the settlement statement and the truth in lending statement (which will outline the costs of your loan, your payment schedule and amount financed), while the seller will also sign the settlement sheet — and, importantly — the deed to the home to transfer ownership of the property to you. Copies of these documents will be filed at the county recorder’s office, but be sure to keep your own copies as well.
Take the keys!

Once all the necessary paperwork is completed and everything is in order, you will be given keys to the home. While you will no doubt immediately change the locks upon moving in, the keys are the final sign that the home is indeed yours.

Considerations when Choosing a Contractor by Joe Szabo, Scottsdale Real Estate Team

October 18, 2013 szabogroup

joe szabo scottsdale real estate for sale

However you choose to find a contractor, please make sure you get several bids from several companies. And be aware that bids from different contractors may not compare apples with apples. For instance, Plumber Jones’ bid to redo your bathroom may be attractively low compared to Plumber Smith’s. But what you may not realize till the end is that Plumber Jones’ idea of bathroom fixtures are the cheapest ones he can find at the home improvement center, whereas Plumber Smith uses elegant fixtures from an upscale supplier. Always be sure you understand what kind of materials will be used even if it means asking a lot of questions. Any contractor who won’t take the time to answer your questions gets crossed off your list.

And now a word about money: NEVER select a contractor based solely on money. The lowest bidder may sometimes be a good choice. But the old adage that you get what pay for is especially true in the construction industry. Contractors who do high-quality work hire high-quality subs and, because they’re experienced and skilled, they charge more. They are also less likely to cut corners by using shoddy materials or slap dash construction techniques. Contractors can charge by the job or by time and materials according to the project’s overall budget. If a contractor comes in with an especially low bid ask him how he figured the numbers. Does he pay his people a lot less than the competition? That’s a red flag that his workers are inexperienced. Does he get a “good deal” on materials? Where? Why? All busy contractors get some kind of discount at the suppliers they regularly buy from. So if a contractor with a low bid says he gets a super-low price on materials, they are very possibly sub-standard in some way.

You should also select a contractor who is not only skilled and reliable but who is someone you can get along with. You may be on the phone with your contractor several times a day. You will be discussing money, how much of it you have, and what you want to do with it. You may have to work through disagreements over details. A contractor with lousy communication skills or someone who simply rubs you the wrong way is not the guy for you no matter how much your neighbor liked him.

Healthy Appraisals Key in Mortgage Lending by Joe Szabo, Scottsdale Real Estate Team

October 14, 2013 szabogroup

Joe Szabo Scottsdale Homes for Sale

The vast majority of home mortgage transactions will require your lender to obtain an appraisal. A healthy appraisal is a key factor in the mortgage lending process and can kill a transaction as fast as a 300 credit score.

Think about why this is true. A good appraisal is the best reassurance that the lender won’t lose its pants on the transaction. If the borrower defaults, the lender still has a marketable property that can be sold to recoup its losses. All of which makes it understandable why lenders are so picky about appraisals. And with recent changes in the industry, the focus by lenders to obtain good appraisals is at the forefront.

Appraisals typically cost anywhere from $350 to $400. However, if the house is gigantic, multi-unit or in the boondocks, it could run more. The cost varies on property type, location and square footage.

The most common type of appraisal is the Uniform Residential Appraisal Report (URAR). It consists of interior and exterior photos and sometimes (depending on the age of the home), a complete cost breakdown of the property and comps (comparison sales of homes nearby that meet the proper criteria). These comps help determine the “market” approach. Each comp sale is adjusted in value when stacked against the home being evaluated (the one you’re buying or refinancing). Usually you will see a comp below the value of your home, in line with the value of your home, and a third above the value of your home. Kind of like the three bears. But if the valuation gets tricky, you can see fourth, fifth and sixth comps. The net value of the comps is estimated based upon the approaches used to come up with the appraised value of your property (meaning the appraiser performs some type of calculation that’s kind of like an average, but not necessarily a true average. Confused yet?)

URARs also, typically but not always, reflect a cost approach, which determines what the value would be based upon what is estimated it would cost to rebuild the home, less depreciation. The final estimated value of the home is then determined by using a melding of the market approach described above and cost approach (if applicable).

Lori Babb, Staff Appraiser for Mortgage Investors Group of Knoxville, TN, further explains comparables. “The best comparables are those similar in size, style (ranch, basement rancher, 2 story, etc.), age, and are close in proximity to the dwelling being appraised,” she explains. “Unique properties will typically require more adjustments than the average properties.”

So, say you’re Bill Gates and want to secure a mortgage on a $200,000 home He’s got the best credit profile a lender could imagine, yet the house appraises for $175,000. Deal or no deal? You better believe it’s no deal. The sales price will have to be lowered, or Mr. Gates will just have to pay cash for his new home (you think he can afford it?). The point is, your average Joe won’t go ahead with the deal without a price adjustment, and he will be obligated to pay for the appraisal regardless of the outcome of value.

Dan Tyrell, principal of Knoxville area’s Tyrell Appraisal Service, Inc., has this comment about value, “When determining value of a single family house, beauty is more than ‘skin deep’. Fresh paint, new carpet, new appliances, and nice landscaping all enhance the marketability of a house. Not so obvious items also impact the appraised value of a house. For instance older houses that have replaced plumbing/electrical systems, updated HVAC systems, newer roofs, replacement windows, etc. lower the effective age of the property which in turn increases the appraised value.”

There are other types of appraisals that are not as common, like an Automated Valuation Model (or AVM). In this case, different factors combine to ensure the value of the home (it’s worth $200K, but your loan amount is only $100K) and your unbelievable credit worthiness (800 credit score!), allowing you to skip purchasing a typical appraisal. You may also only be required to get a “drive by” appraisal, where the appraiser just inspects the exterior of the subject for size, looks at the lot and makes you wonder who that person standing by your mailbox is.

Most lenders control what appraiser is used to determine the value of your home. After all, it’s their money on the line. The appraisal is such an important factor to the mortgage transaction – make sure you’re satisfied with the results. Your lender will make sure it is satisfied!

September Paradise Valley Arizona real estate market update

October 11, 2013 szabogroup

Happy Fall! It looks like the real estate market has cooled off just like the weather. The median home price in Paradise Valley Arizona has decreased from $1,197,500 to $990,000 since August 2013. However it is up 14.8% since September 2012. New listings are up from August with 69 listings as opposed to 56 from the previous month. The great news is that new contracts and closed sales are also up 10% and 23.3%, respectively. The market is starting to balance out making it a great time to buy or sell in Paradise Valley.

September Paradise Valley Arizona real estate market update

Considering a purchasing or selling a property in Paradise Valley? Take advantage of the great market conditions and get your home listed for sale.

We hope that you enjoy reading and analyzing the Paradise Valley Luxury Home Report and should you have any questions or comments, please feel free to Contact Joe Szabo at 480.688.2020 or email him directly at [email protected] or [email protected]. You can also visit https://www.AZLuxuryHomes.com or https://scottsdalerealestateteam.com to find out more about Paradise Valley Homes for Sale and Estates for Sale in Paradise Valley and to search the Paradise Valley MLS for Scottsdale Home Listings.

Please note that this Paradise Valley Real Estate Blog is for informational purposes and not intended to take the place of a licensed Paradise Valley Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale and Paradise Valley Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Paradise Valley, The Szabo group delivers experience, knowledge, dedication and proven results.

Finding a Contractor when Selling your Home by Joe Szabo, Scottsdale Real Estate Team

October 11, 2013 szabogroup

joe szabo scottsdale real estate for sale

There are 3 main ways to find a contractor for an upcoming home improvement or repair project:

Personal Referrals
Homeowners should talk to family, friends, and co-workers about reliable companies. It’s a great way to get a personal testimonial from a trusted source. Also, keep an eye out for neighbors’ projects that seem to be going well.

Advantages of personal referrals:

Referring friend or family member may have already shopped around to find the best offer in the area
Their opinion of the contractor’s service is trustworthy
Homeowners can view the quality of the work

Disadvantages of personal referrals:

Homeowners may not need same type of work done on their house
Friend or family member may be able to afford a higher budget
Friend or family member may have a different style of house or be in a different neighborhood

Phone Books/Directories
Homeowners can use a local directory to look up a contractor. Yellow pages and white pages have anything from a basic listing, which has the company name and phone number, to a full-page advertisement, which lists the company’s details and full range of services.

Advantages of phone book:

Homeowners can choose from companies at their own pace.
Homeowners are able to call as many companies as they would like.
Homeowners can review company details in advance to determine how close they are, possibly how big the company is, and what services are offered.

Disadvantages of phone book:

Homeowners have to call each company individually, describe their requirements, and answer the same questions.
Homeowners tend to only call one or two companies. Receiving fewer bids on a project could mean the homeowner will end up paying a higher price.
No direct referrals from trusted friends or family members to rely upon.

Online Referrals
For online referrerals, check with professional organizations such as the National Association of the Remodeling Industry, which has its own certification process for contractors. Zillow also offers a free professional directory where you can find the pro you need, where you live.
There are also host of online companies that provide contractor referral services. Homeowners can post their project on these Web sites and let a set number of contractors contact them. It’s usually a free service for the homeowner. One excellent site to find local contractors, though be sure to look into references and liabilities, is Craigslist – this is one of many.

Advantages of online referral services:

Homeowners will receive multiple bids, which allows them to get the best rate on the work.
Homeowners only have to post their project requirements once and answer questions one time, which saves time.
Homeowners may be able to find additional online resources, such as financing and informational articles.

Disadvantages of online referral services:

The Web site may not be a trusted resource. (Check if any complaints have been filed to the Better Business Bureau.)
The online referral service may not have a contractor, in their network, close to the homeowner.
No direct referrals from trusted friends or family members to rely upon.

Scottsdale Real Estate Market Report – September 2013

October 10, 2013 szabogroup

Happy Fall! It looks like the real estate market has cooled off just like the weather. The median home price in Scottsdale Arizona has decreased from $395,000 to $371,000 since August 2013. However it is up 17.8% since September 2012. New listings are up from August with 900 listings as opposed to 848 from the previous month. New contracts and closed sales are down 12.3% and 7.2% respectively. The hot seller’s market is starting to cool off and balance out the market. Would be a great time for buyers on the fence to make a move!

September 2013 Scottsdale Arizona real estate market update

Considering a purchasing or selling a property in Scottsdale? Take advantage of the great market conditions and get your home listed for sale before the snow birds and students return in the fall.

We hope that you enjoy reading and analyzing the Scottsdale Luxury Home Report and should you have any questions or comments, please feel free to Contact Joe Szabo at 480.688.2020 or email him directly at [email protected]. You can also visit https://scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.

Top Ten Home Improvement Myths by Joe Szabo, Scottsdale Real Estate Team

October 7, 2013 szabogroup

So you have decided to tackle a home improvement project, but like a mosquito buzzing in your ear a question lingers – Are you making the right choices when it comes to investing time and effort into improving your home? It’s a valid concern because not all home improvements are created equal.

To separate fact from fiction let’s take a look at the top 10 home improvement myths:

Any remodeling project will add value to your home

Not true – while many remodeling projects will add value to your home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit your lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms.
Buying the highest quality materials attracts more buyers

Installing the highest quality materials always seems like a wise decision, but it can backfire. For instance, using the most expensive tile in a bathroom may impress your friends, but value conscious buyers may opt for a more affordable home if you have over improved for your neighborhood.
Adding square footage always adds value

A better way to think about this statement is to insert the word useable into the sentence. Square footage in attics and basements that are finished, and by county standards considered livable, may not be attractive to a buyer if the space is sub-standard compared to the rest of the home.
Colors and textures – safe and simple is better

Keeping a home vanilla so that buyers can choose their own style and décor sounds like a safe bet, but it ignores the fact that most buyers just don’t have the ability to visualize the home differently. Without splashes of color and mixtures of texture, you could lose value to other sellers that have taken the time to consult with an interior designer.
Inside improvements are better than outside improvements

Not necessarily. If a home buyer can’t get past the exterior of your home because it has been neglected or doesn’t offer good curb appeal, all of the work you have done on the inside may not net you any more dollars. To get the biggest bang for your remodeling buck, start from the outside and work your way in.
Adding a bedroom is better than adding a bathroom

It depends on the starting point. If you only have one or two bedrooms to start with, adding a bedroom before adding a second bath is probably a wise choice since most buyers are more attracted to a three bedroom home. On the other hand, if you already have three bedrooms and only one bath, your next investment would probably be in a new bathroom.
Paint hides a multitude of sins

Dry rot? Fungus damage? Mold problems? Carpenter ants? Termite issues? Nothing a can of paint can’t fix, right? Wrong! Not only does this practice violate disclosure laws in most states, it can set you up for liability after the sale as most buyers will want you to foot the bill for these hidden issues.
Converting a garage to living space is a great trade off

Nope. A garage conversion is almost always viewed negatively by future home buyers unless you replace the lost garage with another space of equal size (but then what’s the point?). If you are going to do one anyway make sure that the space can be easily converted back to a garage at the time of the sale.
Doing the work yourself will save you money

For many homeowners wiring a new lighting fixture or plumbing a new dishwasher is a no-brainer, for the rest of us it may end up costing us more later in repair costs when we have to order the work redone by a professional. Another consideration is local and state laws regarding remodeling work. In many states if you have purchased a home to remodel and resell, you must either hold a contractor’s license or hire a contractor to do the work for you.
Pools add value to your home

This is only true if you live in areas where they are must have amenities. Be warned that this isn’t true for most areas of the country and the idea of maintaining a pool for ten months out of the year when it can’t be enjoyed won’t appeal to most buyers.

Becoming an informed home owner is the first step in making wise and profitable decisions when it comes to choosing the right remodeling projects. But don’t stop here. Talk to remodeling professionals, contractors, home improvement specialists, and local agents about what amenities are coveted most by home buyers in your market.

Red Flags for Online Real Estate Scams by Joe Szabo, Scottsdale Real Estate Team

October 5, 2013 szabogroup

Red Flags for Scams

Requests to wire funds via MoneyGram or Western Union

Most scams involve a request to wire funds. Do not wire funds to anyone you haven’t met personally. Scammers create convincing reasons why they need to deal remotely. Likewise, do not accept wire funds that you did not initiate.

Long-distance inquiries

Most scams come from users in foreign countries who claim to be interested in purchasing or renting out a home. Be wary of claims from people who are contacting you from abroad because they are missionaries, U.N. workers, or in the military.

Requests for verification codes

If you are asked to provide a code sent to your cell phone via text or phone call, this is a sign of a potential scam.

Requests for personal or financial information

Do not provide your bank account number or Social Security Number to unknown sources. First verify it is a trusted source and then only provide this information sparingly.

Typos and sob stories

Emails filled with spelling and grammatical errors are usually a sign of fraud. Messages involving stories of family or financial issues, or of agents who charge too high a premium are usually fraud.

Report Scams and Fraud

If you believe you have been scammed, report the incident to the FTC. If you sent money via Western Union or MoneyGram, report the incident immediately: if the recipient hasn’t collected the money yet, the wire transfer company can reverse the transfer.

When reporting scams, include as much as possible of the following: the name and address of the sender, the send location, the date and amount of the transfer, the transfer fee, the date and actual location of the receipt, the name of the receiver, any information recorded regarding the receiver’s identification, the reference number for the transfer, and the details of the nature of the issue.

Archives for October 2013

Do It Yourself

Other Cost Cutters

Complete the walkthrough

Bring enough cash

Show id

Proof of insurance

Sign on the dotted line

Take the keys!

Any remodeling project will add value to your home

Buying the highest quality materials attracts more buyers

Adding square footage always adds value

Colors and textures – safe and simple is better

Inside improvements are better than outside improvements

Adding a bedroom is better than adding a bathroom

Paint hides a multitude of sins

Converting a garage to living space is a great trade off

Doing the work yourself will save you money

Pools add value to your home

Red Flags for Scams