Scottsdale Real Estate Blog

First Time Scottsdale Home Buyers Need Extra Help

For a time in my long career, I was helping a lot of first-time home buyers. Lately, it has been mainly move-up buyers but I recently got a call from a hesitant first-time buyer just starting the process of possibly purchasing a home. It reminded me of the days when new buyers were the largest segment of my home buying clients.

I've always enjoyed working with first-time buyers, whether they were very excited to buy a property or if they were nervous and hesitant. I never push buyers and want to make sure they're well informed and are comfortable with their decision.

Even some experienced buyers need updating to the current Scottsdale real estate market because many things have changed since when they bought previously.  For example, many…

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Scottsdale Real Estate Market Facts 2006

As a seller in today's market, you might be questioning whether the news about the real estate downturn is a bunch of hype that gives your agent an excuse for your home not selling. I subscribe to a newsletter by an Association of REALTORS, of which I am a member.

In one of the articles, it states "Second quarter home sales are down 6.1 percent."  That doesn't seem like a big number, but it's never good when sales are down for Scottsdale real estate in any month from the prior year.

This just reiterates the fact that as a seller of Scottsdale real estate, you need to make sure your property is priced correctly for today's market and it needs to be at top condition in that price range. Why? Because with fewer buyers looking and more homes on the…

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Happy Ending for German Shepherd Rescue

Princess has found a home! When I made the prior post trying to find a loving home for Princess, the German Shepherd that was home alone in a house after her owner passed away and I had the house up for sale, I had hopes for success but was pretty doubtful.

Thanks to the tip from Bern (since switching my website the comments are gone) telling me to post an ad (it was free) on www.petfinder.com. I really didn't have much faith as there were so many ads. Also, as I am a fan of tiny dogs. I just didn't think there would be much interest in a 4-year-old German Shepherd.

Lo and behold, I got a phone call soon after from a wonderful woman who offered to adopt Princess although she already had 2 large dogs and I wasn't sure if Princess would get along with…

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Real Estate is Booming in Scottsdale in 2006

I've been so busy I haven't had much time to post in this blog.  All of my Scottsdale real estate listings have sold as the market in the area is very active.

If you currently have a Scottsdale home for sale that is priced in the median price range or less for your area and you still haven't received any offers then you need to rethink your price.  However, price isn't always the answer.

If your agent has made some suggestions on cosmetic fixes/repairs that would make your property more appealing you might want to tackle some or all of those items.  I can't tell you how many times a Scottsdale home seller could have received more money if they just made some cosmetic changes.  Even with the changes they would have sold quicker and netted more…

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HELP THIS GERMAN SHEPHERD FIND A NEW HOME

UPDATE: Princess has been rescued! Thanks for the inquiries and read the story here.

I was called by a friend and prior client that I needed to get a house listed where the owner passed away.  I found out that there was a German Shepherd living in the house.  I have a fear of big dogs, so I wasn't excited about this idea and I immediately knew I had to help find a home for her.

Meet Princess, the sweetest German Shepherd I've ever met. Although I love animals, German Shepherds were never dogs I would have considered bringing into my home. However, if I didn't already have 3 dogs (2 Pekingese and 1 Dalmation), I would certainly take Princess in if we couldn't find someone.

She is currently home alone as her owner died recently. She has a friend…

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Scottsdale Second Home Sales Hit Record

Four out of every 10 real estate transactions were second-home sales for vacation, part-time living, and/or investment purposes, according to an annual report put by the National Association of Realtors® (NAR). These types of sales hit records in 2005.

Two surveys showed that 27.7% of properties purchased in 2005 were for investment purposes and 12.2% were vacation homes. Many second home purchases are not really a 2nd home, but a 3rd, 4th, 5th, or more because of good investment returns. What I found interesting is that the median distance of a vacation home was 197 miles from the primary residence, and 47% were less than 100 miles away while 43% purchased 500 miles or more away.

In Arizona, a lot of people in the valley, like Scottsdale, will…

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Scottsdale Real Estate is Active

It seems like it was kind of a late start this year but I have personally been super busy since right after Easter.  I just sold a listing in Scottsdale in one day!

If you have a property on the market and it continues to sit with few showings and no offers, you now need to seriously consider reducing price or fixing the property up to show its best at the price you currently have it at.

This might be the busiest time of the year so if you have your place priced too high it might be too late when you finally decide to reduce.  Your listing might become "stale" and if it was priced correctly in the beginning it might have sold for more than it would if you become desperate and lose out on the active market time.

I've seen time and again that…

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Using Your IRA or 401(k) for a Down Payment

Sometimes it seems like there is just no way you'll ever be able to afford to purchase your first property in  Scottsdale, Carefree, Cave Creek, Fountain Hills, Paradise Valley, or another Phoenix area. As prices increase, the dream of homeownership drifts farther away.

There are many different rules and ways of obtaining financing and/or funds. Here are two you might want to consider.  Please consider the date of this post and double-check with your IRA or 401K provider to make sure what the current rules are.

1. If you are a first-time home buyer you are allowed to withdraw up to $10,000 from your IRA without penalty. You will be taxed on the withdrawal, unless you have a Roth IRA, as you were already taxed on those contributions.

2. You'll…

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My Recent Press

Some of my fellow agents, friends, and clients have seen my recent press.  It started a few weeks ago with a Wall Street Journal article about how I lost the domain name for my Oak Lawn real estate website.  Many other news sources across the nation picked the WSJ article.

Please be assured that I did not forget to pay my $9.00 fee.  I relied on my web host to let me know what the problem was when my site first went off-line since I purchased the domain name through them.  They finally figured it out the 2nd time the site went down but by that time it was too late.

The story was captured by two local papers, The Southtown Star and The Chicago Sun-Times.  The Southtown Star article wasn't as bad as the Sun-Times article which made it sound like I…

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Scottsdale Real Estate Buying Trend

Over the past week or two, there has been an influx of activity with my listings and I've had 5 or 6 contracts presented in this short time period. I have noticed a real estate trend that I haven't seen in a long time. Some Scottsdale home buyers are coming in with very low offers.

I believe the lowest I received was $30,000 or more under the list price on a Scottsdale home for sale. Of course, my seller was upset and let me know that he'll hold onto the home and wait for a better offer rather than sell it at such a lowball price.  In fact, not one of these lowball buyers has been successful in getting their offers accepted.

No matter if it's a Buyer's Market or Seller's Market, there will always be potential buyers that will make lowball…

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