Scottsdale Real Estate Blog - Judy Orr

Assessed Value vs Market Value of Your Scottsdale Home

Understanding a home’s true market value is about more than pictures, software assessments, and price-per-square-foot. Whether you’re a current homeowner thinking of selling or are house-hunting, it’s crucial you understand what factors affect home valuation. By partnering with a local market expert, Scottsdale home sellers will avoid pricing their house out of the market (the kiss of death in real estate) and buyers will ensure they get a good deal on their next home.

So, how do you accurately calculate a home’s value? After all, the value a home that is assessed by its town and county and the one it’s given when it’s listed are often dramatically different from one another. Which one is accurate and what does it all mean? Read on to learn more.  …

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What is Your Scottsdale Home Buying Power?

The first thing you need to do before ever contacting a real estate agent to start showing you homes is to find out what you can actually afford.  Many agents won't take you out until you can show them a pre-qualification letter from a lender.  And sometimes if the agent has never heard of that lender, or it's an online lender that isn't trustworthy, the agent will ask you to get pre-qualified by their preferred lender.

Then there are some agents that will show you a couple of homes to get to meet you, but once you've seen some they will ask you to get pre-qualified before they show you any more.  I have done that and some of those buyers, who thought they were fully qualified, ended up falling in love with a home I showed them, only to find out…

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Top 5 Home Design Trends of 2017

You can usually spot new design trends by looking at new construction, especially new subdivision models.  Most builders keep themselves up-to-date with current decorating styles.  One builder I met said they will build one spec home using a cool tone (grey) and the next one with a warm tone (beige).

The current trends are all about utilizing rich color, maximizing texture, and creating comfortable interiors you can’t wait to relax in. Use these trends to get inspired to makeover your home’s interiors and create spaces you love that also appeal to your personal style. Remember, if you plan to sell in the next few years, you may want to avoid doing anything dramatic and instead incorporate small changes that would appeal to buyers.  We plan on…

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5 Tips to Increase Your Scottsdale Home’s Value Up to 28%

Great curb appeal not only makes your home the star of the neighborhood, it can also improve its value and help you sell it for more. Whether you’re thinking of listing your home or just want to make your home the envy of your neighbors, here are several ways to increase your home’s curb appeal.  Download a pdf here.

1. Make your home’s exterior look like new.

For many potential buyers, the condition of the exterior of a home can offer clues to the condition of the interior. The first place to start when boosting curb appeal is the exterior of your house.

Paint.  Paint is the best way to make your home appear newer. While you can paint your home yourself, if it’s large or more than one story, consider hiring a professional.   FHA financing,…

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How Will Higher Interest Rates Affect the Housing Industry?

Interest rates keep going up on a day to day basis.  As I'm writing this, rates are above 4%.  We haven't seen that figure in a while!  

So before anyone panics, I'd like to go down memory lane to when I purchased my first house.  We were given a 10 year mortgage at 10.5% interest with a 20% down payment (the 3 bedroom, 1 bath single level home on a crawl in in a Chicago suburb called Evergreen Park cost $18,000).  We made it into a cute little dollhouse.  We didn't balk at 10.5% interest - those were the going rates.  But look at that low price!  In only about 3 years we sold it for $47,500 - those were the days.

I remember when the market went wild when rates fell to 8.5%.  It was definitely a seller's market at that time.  It was difficult for…

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All About Buyers and Sellers in 2016 - Infographic

Here is an infographic of some real estate buyer and seller profiles of 2016 that I thought many people would find interesting.

Home Buyers

Age

Nothing really shocking to me about buyers.  It is interesting to see how the average age has changed since 1981.  I bought my first house in 1976 at the age of 22.  That house cost $18,000 and it didn't hit me at the time but instead of a 30-year mortgage, we were given a 10-year mortgage!  We were happy with our 10.5% interest rate.  I still drive past that house whenever I'm in the area.

Marital Status

I normally work with married couples but I do get single buyers.  In fact, I worked with a couple this past year (they never did buy, but that might be good) that had just started dating and I…

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A Quick Slideshow of Some of Our Marketing Techniques

The slideshow below is a quick version of some of the techniques we use to market your property.  For the full online version please click here (this version will give more detailed information for each slide).  

Our Marketing Plan - Created with Haiku Deck, presentation software that inspires;

We will never ask our sellers to do something we wouldn't do to sell our own home. We've sold multiple properties ourselves.  It's not fun, especially when you live there. But we want to work with our sellers as a team to get your home sold in your time frame and at the highest price possible.

If you're thinking about selling your home please interview The Judy Orr Team.  Call us at 708-536-8200 or use our Contact Form.

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How Much Is Your Home Worth?

Click the photo above to go to the page for your instant market value.  This isn't just for homes in Cave Creek - it will change when you click on the page.  Just put your address in.  I've tried different home value programs and have come back to this one as it gave the closest value for my own home.  This value is based on sold and closed properties, which is what an appraiser goes by.

Buyers can also use this tool for a home they're interested in to see if the home is priced correctly.  However, I create a manual CMA for my buyers so they can get the best data available.

Keep in mind, this is an instant online value based on your location and the few quick questions for you to answer.  This will give you a price range and show you area…

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Generational Real Estate Trends for 2016

Below is an infographic from the National Association of Realtors®

As a baby boomer, I get confused about the generations that have followed me, so I'm going to list them:

• The Lost Generation - born 1890-1915 - I don't remember this generation, but my grandparents were in it - both are gone
• The Interbellum Generation - born 1901-1913 - I didn't realize generations could overlap
• The Greatest Generation - 1910-1925 - more overlapping - my parents were in this one
• The Silent Generation - 1923-1944 - my parents were also in this one
• Baby Boomers - 1945-1964 - My husband and I are in this one
• Generation X - 1961-1981 - My daughter & one son are in this generation
• Generation Y - Millenials - Gen Next - 1975-1995 - more overlapping…

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7 Things That Can Turn Buyers Off

I just read an article online regarding 7 things that can turn buyers off when viewing homes for sale. Sometimes sellers don't want to believe their agents when they try to tactfully explain these things to a seller when taking their listing. I'm going to review the 7 things in this article in my own words:

1. Pets - I just showed a Scottsdale home to buyers yesterday and no one from the listing brokerage mentioned the huge dog (looked like a mastiff) that was in a big cage in the empty dining room.I jumped when I entered the room and saw him. He didn't bark and barely moved, but this could have scared other agents and buyers right out of the house. He was a formidable though gentle giant who surely was not a watchdog but for his imposing size. There…

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