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, info@ScottsdaleRealEstateTeam.com 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, info@ScottsdaleRealEstateTeam.com 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, info@ScottsdaleRealEstateTeam.com 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 No matter how many great political or lion-eating-dentist costumes we’ll see this year, being an adult at Halloween can be a bit of a bummer. Between obligatory “clever” costumes and the egregious lack of candy at most adult-themed Halloween parties, there’s not a lot of giddiness left in the holiday for the grownups. In honor of the bygone days of candy-trading and itchy wigs, we rounded up a few of the fun, quirky, nostalgic spooky traditions of yore — some of which are alive and well today. Maybe we can’t trick or treat anymore, but we can delight in remembering the highlights of our childhood Halloweens.

Trick or treating

Ah, door-to-door sweets retrieval from strangers. It’s the day every kid looks forward to all year, but how on earth did this tradition come about? Turns out trick-or-treating actually has a couple of sources. One is the early Celt tradition of dressing up like demons at the end of the year — the idea being, if you ran into one, he’d think you were part of his posse. The other is a later practice from the Middle Ages known as “souling,” in which poorer members of the community would go to wealthier homes on All Souls Day and offer prayers for their dearly departed in return for “soul cakes.” Over the centuries, soul cakes gave way to Snickers and prayers gave way to tricks, but the practice of going house-to-house remains.

The classic witch costume

Before TV and movies made vampires and werewolves and witches ridiculously attractive, there was the classic witch, made famous in “The Wizard of Oz” and beloved as everyone’s last minute go-to costume. All you needed was a broom, which your parents were no doubt super happy to surrender for a night, and maybe a pointy hat — which, as it turns out, wasn’t actually associated with witches until the 18th century. Bonus points for green facepaint and nose warts.

Front lawn graveyard

Let’s be honest. We’ve all been secretly terrified by this. Maybe you passed the yard while out on a jog, maybe you were a kid trick or treating, but at some point, those bones sticking out of a well-manicured lawn took you by surprise.   Yearning to re-create this childhood favorite in your own yard? If you can’t get your hands on plastic gravestones, there’s always the classic “dead body in the front yard” thing. Just make sure everyone knows it’s fake, unless you want the cops to show up. Seriously.

The Monster Mash

Okay, so maybe it’s not “cool” to dance to, and you still regret that time you chose it at karaoke, but you gotta hear this song at least once in October, right?   Inspired by ’60s dance records and the simultaneous horror movie craze, Bobby “Boris” Pickett’s “Monster Mash” actually topped the charts when it was released in 1962 — and again in 1973. How about a 2015 revival? Put it on repeat at your Halloween bash and see if it catches on.

The Singing Ghost

Speaking of Halloween music: Once motion activation got going, you couldn’t trust any doorway. Things have gotten a little more sophisticated since, but step under any awning on Halloween night in the ’90s and there was a solid chance you were going to hear this “eerie” tune.

The ‘Scream’ mask

Ah, “Scream.” It brought Neve Campbell back to the silver screen, knocked off Drew Barrymore in the first scene (spoiler alert?), and gave teenage dudes everywhere the perfect Halloween costume to terrify and annoy their friends from 1996 to this very day.

The Addams Family

Whether you watched the show in the ’60s or the movies in the ’90s (ideally both), the Addams are the iconic “all together ooky” Halloween family you know and love — and fear. (Unless, of course, you were a fan of “The Munsters,” instead.) Bonus points to the mysterious and spooky gang for offering a huge variety of fun Halloween costumes, most of which are relatively easy to pull off —except for, say, Cousin It. Nobody wants that much hair in their Halloween candy.

Jack-o’-lanterns

Believe it or not, the reason we all have to struggle with these kits every October is because of an Irish folk legend about “Stingy Jack.” This Jack dude apparently tricked the Devil — twice! — and wasn’t allowed to go to Heaven or Hell upon his death. Instead, he was doomed to roam the earth forever with a coal lantern which, for some reason, he put into a turnip. Fast forward a few centuries and “Jack of the Lantern” becomes jack-o’-lantern, pumpkins take over for turnips, and Stingy Jack, for all we know, is still wandering around, turnip in hand. 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, info@ScottsdaleRealEstateTeam.com 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 Real estate markets ebb and flow just like the seasons. The spring market starts hopping when the sun comes out, flowers bloom and winter is over. Conversely, fall signals the beginning of a slower market, which could be good for buyers. If you’re in the market for a home, here are some reasons why fall can be a great time to buy.

Leftover spring inventory may result in deals

Home sellers tend to go on the market for the first time in the spring. They often list their homes too high out of the gate, which could mean that a series of price reductions follow during the spring and the summer months. These sellers have fewer chances to capture buyers after Labor Day. By October, buyers are likely to find desperate sellers and prices that may, in fact, be below a home’s true market value.

Fewer buyers are competing

Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. These families have exited the market, which means less competition. That translates into more opportunities for buyers. Taking out an entire segment of the housing market provides millennial, single, and baby boomer buyers some breathing room. You’ll likely notice fewer buyers at open houses, which could signal a great opportunity to make an offer.

Motivated sellers want to close by the end of the year

While a home is where an owner lives and makes memories, it is also an investment — and one with tax consequences. A home seller may want to take advantage of a gain or loss during this tax year. Buyers might find homeowners looking to make deals so they can close before December 31st and get that tax benefit. Ask why the seller is selling, and look for listings that offer incentives to close before the end of the year.

Homes for sale near the holidays signal a motivated seller

As the holidays approach, the last thing a homeowner wants is for their sale to be dragging on and interrupting their parties and events. If a home has not sold by November, and it’s still sitting on the market, that homeowner is likely motivated to be done with the disruptions caused by their home being listed for sale.

Many homes don’t show as well once the landscaping fades

The best time to do a property inspection is in the rain and snow, because the home will be truly exposed for buyers. The same holds true for fall, when flowers die, trees start to shed their leaves, and beautiful landscapes are no longer so lovely. Scratching the surface of the pretty spring home season and fall reveals home flaws, making it a great time to see each home’s true colors. It’s better to see the home’s flaws before making the offer, instead of being surprised months after you close. 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, info@ScottsdaleRealEstateTeam.com 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.