Archives for November 2015

By Joe Szabo, Scottsdale Real Estate Team

Not all real estate agents are created equal. Like all industries, there are plenty of terrific pros, but once in a while a bad apple rubs a buyer or seller the wrong way and spoils it for the rest of us.

If you’ve had a bad experience in the past, don’t let it happen again. If you aren’t comfortable with your current agent, stop everything. You can find wonderful agents in every market — don’t move forward until you have.

Once you find an exceptional real estate agent, you’ll discover plenty of reasons to be thankful for them.

They’ll be there for you during the difficult moments

In the middle of a transaction that seems to be giving you more heartache than love? Maybe it’s not the “deal” you thought it was, or something just doesn’t seem right?

A good agent will take your call at 10 p.m., hear you out and support your decision not to move ahead. Buying or selling a home is a serious financial transaction — not to mention one with huge emotional and practical considerations.

Your agent should uncover any issues and, if it’s the best decision, suggest backing out of the deal before you even bring it up. They’ll be on your side, and looking to build a long-term relationship — not just make a quick buck.

They’ll help get your house ready for sale in record time

A good listing agent doubles as a project manager, designer, and connector of all things quick and fast for home improvement.

Thinking of selling, but daunted by the idea of prepping your home, making necessary fixes or simply deep cleaning? Good listing agents take on the burden and alleviate unnecessary drama from an already stressful time in your life.

With your approval, your agent can muster up a team of painters, stagers, floor finishers, home organizers — and the list goes on. As the lead on prepping your home for sale, your agent will be your single point of contact and get the job done quickly.

They know you’re juggling work, kids and all the other parts of your life

A real estate transaction can be so tedious. Someone always wants a random signature or a document notarized. Inspectors and appraisers need to get into the home, and sometimes one of the parties has a last-minute request that you can’t ignore.

A good agent realizes you have a life outside your real estate transaction. She’ll drive to your home late at night or catch you in the lobby of your office building in between your meetings for that important signature. He’ll open doors, get second bids, sometimes pull weeds and even walk your dogs.

Tasked with making your life easier and your transaction as smooth as possible, a good real estate agent is full service 24/7. And they love doing it.

They’ll send you helpful data about your home long after you’ve closed

Some agents do their deals and move on, seeing your purchase or sale as transactional. But good agents know that their services continue long after you close.

Homeowners like to know what’s going on in the market and how their investment has fared over time. Agents see homes in person each week, and can take note of comparable homes and keep their past clients informed about the market.

It’s true you have a lot of information at your fingertips already, but having an active agent keeping you in the loop, without even asking, is the best.

They have the inside track because they’re well-connected and well-liked

Often, deals fall into place because of the strength of the relationships a good agent builds over time. Being well-connected with other agents, bankers, inspectors and deal-makers means they can help you find opportunities off the market, get the attention or time you need, or get your offer to the top of the pack in a competitive bidding situation.

A truly great agent constantly has your interests, wants and needs in mind, and uncovers opportunities to find the house or the buyer of your dreams.

If you’ve found your dream agent, you have a lot for which to be thankful. If you haven’t, find a good agent and get them on your team. They can make all the difference.

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 www.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.

By Joe Szabo, Scottsdale Real Estate Team

With the holiday shopping season already under way (earlier than ever!), you may be thinking Black Friday is the time to buy that HDTV or budget laptop you’ve been eyeing. After all, the prices are so attractive. Just $150 for a name brand TV? Prices on bargain model laptops starting at only $99? The deals are pretty hard to resist.

Don’t just fixate on electronics, though. Consider purchasing items for your home, too. Sure, these purchases may not be as sexy as a sleek new phone, but there are plenty of great deals on items you’ll use year-round.

Large appliances

This is the time of year when you see retailers bundle sets — like washers and dryers, for example — and sell them at a discount. And the savings can be significant — up to several hundred dollars off, plus free local delivery and haul away. Special financing may also be available.

Don’t need a set? Don’t worry — individual appliance deals are impressive, too.

Oh, and if you have your heart set on that pricey, but oh-so-worth-it, Dyson vacuum cleaner, now is a good time to buy one.

Kitchen items

Need a new blender? Coffee maker? Microwave? It’s an ideal time to purchase these types of items as well, as the deals are better than average, according to dealnews.com.

And there’s no time like the present to complete your dream kitchen. Keep an eye out for normally expensive brands which may now be affordable, once you consider the rebate.

Tools and hardware

Whether you’re in the market for a storage cabinet, mechanic’s tool set, generator, lawn and garden gadgets, or snow blower, you’ll find it available at prices that won’t break the bank.

Tabletop essentials

You’ll see savings on everything from holiday collectibles to ornaments and figurines — just in time for the rapidly approaching holiday season. Whether you’re hosting relatives, entertaining guests, or just feeling festive, Black Friday is a good day to shop for tabletop essentials that can help set the mood.

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 www.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.

By Joe Szabo, Scottsdale Real Estate Team

When you buy auto or home insurance, you have basic protections in mind. For home insurance, you’re likely most worried about fire, wind and burglary. For auto protection, you’re concerned about causing or being a victim of a wreck.

Your agent likely outlined some other scenarios where you’d receive help from your policies. For example, standard home insurance policies typically protect other structures on your property, your personal possessions, and other situations. Auto policies, depending on how they’re set up, can protect you if you’re the victim of a hit-and-run accident, and more.

But sometimes the “other situations” and the “and more” never get mentioned. Here are some coverages you likely already have but might not be aware of.

First off: little-known home insurance protections.

Meteors

Have you ever worried about a giant meteor striking the planet? Here’s the good news: Assuming it didn’t lead to a dinosaur-level planetary extinction event, you’d be covered. At least your house would have been, up to the limits of your dwelling coverage — typically set at the amount it would take to rebuild the home from the ground up.

Plus, if the house was left uninhabitable by the meteor, your policy, in most cases, would cover additional living expenses. That could help with hotel, restaurant and other costs while you’re displaced.

Planes and automobiles

Probably trains, too, if that were possible. But yes, if a plane hits your house, you likely can get full coverage from a standard policy. You could also expect coverage for damage to your possessions, and help with temporary lodging.

More likely, of course, is the prospect of a car failing to negotiate a curve and hitting your house. And, yes, you’d have protection (up to your policy limits).

Explosions and riots

You probably don’t walk around worrying that your neighborhood will be overrun by bombs and riots, and the resulting damage to your house. It’s possible, of course, but the chances in most places are slim. But if a riot breaks out in your part of town, it’s nice to know standard coverage could provide protection.

There is, however, one exception and one gray area — it wouldn’t be insurance, otherwise. Acts of war are not covered by home insurance, unfortunately, so if Canada bombs your neighborhood, paying for the damage is all on you. The gray area is terrorism. Is it an act of war? Insurance providers tend to say yes, meaning any damage resulting from it is not covered. But the matter hasn’t been settled once and for all.

Next: auto coverages you might have missed.

Flooding and earthquakes

After years of having it drummed into them, most policyholders know that standard home insurance doesn’t cover flooding. The same is true for earthquakes. For either of those disasters, you’ll need a separate policy. But did you know that auto insurance could cover both of those situations — “could” being the operative word, in this case.

It depends on whether your policy includes comprehensive coverage. Every state but New Hampshire requires liability coverage to help with injuries and property damage from a wreck you cause. And some require other coverages, including uninsured/underinsured motorist coverage, which helps if the driver who hits you has insufficient or no coverage.

But comprehensive coverage is not required by state law (though it could be mandated by your lender). Comprehensive coverage can help, up to your policy limits, in case your car is stolen or vandalized, or if it catches fire or suffers other damage that doesn’t result from a collision (other than one with an animal). And it can help in case your car is damaged by flood or earthquake.

One thing, though: You’ll have to pay a deductible before you get help from your policy. Depending on your provider, you could be required to purchase collision coverage (which helps pay for damage to your car for a wreck you cause) if you want comprehensive coverage. Check with your agent.

Missiles

Remember how home insurance excludes acts of war (and maybe terrorism), but covers explosions? Well, if your policy includes comprehensive coverage, you’ll be protected in case your vehicle is hit by a missile. Again, everything depends on your coverage limits, and you’ll have to pay a deductible, but isn’t it good to know that you’ll be covered for damage from a missile?

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 www.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.

By Joe Szabo, Scottsdale Real Estate Team

Selling a home is nothing like buying one. Whether you’ve been in the home for four years or 40, first-time sellers need to consider some important points before getting started.

You need the right agent

Unless you’re offering the home For Sale by Owner, you will need to sign an agreement with a real estate agent and their brokerage. You’ll also have to pay a commission. Because the agreement contractually ties you to your agent for three to six months, choosing the right one is more important this time around. Unlike when you were a buyer, you can’t simply come in and out of the market.

You’ve got to be ready to sell

In the Internet age, you only get one chance to make a first impression. Information flows more quickly than ever. If you list your home at an unrealistic price or not in the best condition, the number of days on market (or DOM) will add up — and could come back to bite you later.

Sellers who resist their agents’ pricing suggestions may not be emotionally ready to separate from their home. By overpricing it, they will self-sabotage the sale. It’s better not to list your home than to “try” at a high price or in bad condition.

DOM factors into buyers’ offers

A typical buyer looking at a listing will first notice the price and size. They will then scroll through the photos and look at the listing history. If a home has been on the market more than three months, they may think there is something wrong with it.

Or, what’s worse, when you do get serious and adjust your price or condition to what it’s really worth, buyers will penalize you for it by offering even less.

You’ll never interface with the brokerage — only your agent

The agent you choose matters more than the brokerage, although you should consider both. If you list your home with Suzy at XYZ Brokerage, Suzy will be your only contact with the company.

Agents are independent contractors who choose to hang their license with a company whose brand and culture match their business. While a well-known or large brokerage is an important consideration for listing, if your agent is successful and someone you trust, they will do a good job no matter the brokerage.

If you get an offer, you have to move soon

Once you get an acceptable offer from a buyer and you sign the contract, the clock starts ticking toward your closing. Many sellers underestimate the amount of time it can take to list, sell and close on a home. Know your market before you list, and put a plan in place for where you’ll move when your home sells. If your market moves quickly and your agent expects the home to sell within a few weeks, it might be better to wait.

The best advice for first-time sellers is not to sell until you are ready. Have a plan, know where you are going, and work with a great local agent early on. You should do what it takes to present your home in its best light and price it right.

Selling a home can be very stressful and emotional. Add on top of that packing and moving, and it’s a lot to deal with for anyone. Be sure you’re prepared before you start the process.

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 www.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.

By Joe Szabo, Scottsdale Real Estate Team

Many homeowners today face a serious housing dilemma. They love their home, its location, and even their neighbors. But they’ve outgrown the space. Do they trade up to a bigger or better house, thus entering a busy real estate market, or stay put and renovate?

Most homeowners have never sold and bought at the same time, nor have they lived through a renovation. Both experiences are incredibly stressful, and many people don’t know what to expect. Here are some tips for making an informed decision.

Know what you’re getting into

It’s helpful to know that it is cheaper to stay in your current home and renovate than it is to sell your home and buy a bigger one. And renovating isn’t as big a deal as one may think.

If you go into it with an open mind and full awareness, it’s not so bad. However, some people are just not cut out for living with dust, disruption, and a little bit of chaos.

Living through a renovation means a constant stress is hanging over you. If you can’t take that in your life, don’t fool yourself.

Check your finances

The most important thing you need to do is understand your home financial situation. Do you have equity in your home? If so, how much, and would you need those funds to either renovate or purchase the new home?

Is a home equity line of credit available to you? Using that money provides the mortgage tax benefit for the interest, which makes an equity line a no-brainer.

What would you need to spend on a new home in your desired location? Just like when you first got pre-approved to purchase the original home, you need to get pre-approved and run the numbers. You may find that the house you can get isn’t much bigger than where you are, or that you have to change areas to get more space.

Define your renovation requirements

What exactly is it that you need? An extra bedroom or bath, more family or community space, a larger kitchen or a master bath? Put it all out there and prioritize.

Can these changes be made within the envelope of your current home, or would you have to expand outside your walls? Renovating inside might mean that you need to leave the home for some time, while an expansion might allow you to stay in the home during the renovation.

Research zoning and building codes

Learn how building and zoning laws will affect your plan to renovate. Find out if expansion is even a possibility.

Many people think that finishing the basement is as easy as putting up some walls and carpet and moving the TV downstairs. But did you know that you likely need two forms of egress or certain height and insulation to make a finished basement meet code? A few hours of an architect’s time can help get you the information you need.

If you want to add on, make sure that your lot is big enough. Town zoning laws only allow a certain percentage of the lot to be covered. If you’re at your max, you’re out of luck.

Set-back laws might mean that you can only expand in the front or on one side of the property. You may find out immediately that what you want to do simply isn’t possible, and the decision is made for you.

Don’t over-improve for the neighborhood

You need a master bathroom and family room or some extra square footage, but will the neighborhood support it? You don’t want to be the biggest or best house on the block when you go to sell. A big master suite or designer kitchen may be just what you want, but will future buyers pay for it?

Do some research, talk to a real estate agent and attend open houses in your neighborhood. If you don’t know, ask. But do not embark on a large renovation project if you can’t get your money back when it’s time to sell.

Get ready for a different kind of stress if you move

Purchasing a new home and selling your existing one simultaneously means instant stress that is intense and compacted in a short period. The stress may come in the form of carrying two mortgages, getting a bridge loan or waiting for your home to get an offer.

Remember how you felt when you purchased your first home? Now double or even triple that.

Expect the expenses

When you sell your home, you need to pay the real estate commission and transfer tax on the sale, and you may be taxed on any gain. When you get a mortgage for the new home, expect more loan and title fees upfront.

While many closing costs and transfer fees are tax deductible, you don’t realize anything from these expenses. The $10,000 in fees might be better spent toward a new bathroom. Before you decide to explore this path, gather some information about costs.

Deciding whether to trade up or sell and buy is incredibly personal. The most obvious thing to do is to check your finances, and see what is out there on the purchase market. Learn what’s happening and understand how you would fare. And even if it’s intimidating, seriously consider renovating. It is incredibly rewarding to be able to make your home even more custom to you.

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 www.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.