How to Ease the Stress of an Inherited Property

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Inherited homes often come with a lot of baggage.

Outside of the property itself, you are often coming into possession of valuables and other things that were left behind within the home. 

These extra belongings can make the task of inheriting a home seem daunting. So when you hire an agent to help you sell the home it is important that you hire one who specializes in probate.

I personally partner with many different people including a probate attorney who is capable of handling some if not all of the paperwork associated with this process. Also on my team I have people able to come in and do an estate sale.

They will be able to come in and help sell off the inventory on the property for you outside of the things you set aside to keep, and the things that are leftover can then be donated or removed.

Our team consists of a number of individuals all qualified to get the home ready to sell.

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No matter what avenue you take, having a probate expert to help you out will be essential.

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However, if you are in a situation where you are ready to be done with the property immediately without going through any of the steps above, we do have cash investors who can come to the table and buy the property within 24 hours.

Whatever option you choose should be the one that will remove the most stress from your life.

But no matter what avenue you take, having a probate expert to help you out will be essential.

Also, you can click here to visit our website to get more information on the process.

If you or anyone you know could use our help or if you have any other questions feel free to get in touch by giving us a call or sending an email. We look forward to hearing from you soon.

Should You Work With Family to Help You Buy or Sell a Home?

Should you hire a friend or family member to help you buy or sell a home? If you hire someone based solely on those reasons, it usually doesn't end well.

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The saying goes that you should never do business with friends or family because it can jeopardize or wreck the relationship. In my opinion, no relationship is worth wrecking over real estate.

This is a controversial topic, and I’m not saying you shouldn’t ever do it because there are always exceptions to the rule. If the agent is very good and has a great track record, I don’t see a problem with that. However, if you hire someone just because they’re a friend or family member, it usually doesn’t end well. I can’t tell you how many people with a canceled or expired listing that I’ve talked to whose relationship with their friend or family member is strained because the house didn’t sell.

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No relationship is worth wrecking over real estate.

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My advice is to hire a professional who’s not related to you. Someone who’s not a friend or family member can be candid with you and tell you what you need to hear to get your home sold. A friend or family member might not tell you things because they’re more worried about sparing your feelings and damaging the relationship. Well guess what? If you’re not getting the information you need and your home doesn’t sell, the relationship is going to be damaged anyway. Don’t risk it, and don’t wreck it.

I’d love to talk to you more about this topic or any others you may have questions about, so feel free to call or email me anytime. Take care, and make it a great day!

How Secondary Homes Affect You

Phoenix has a sizeable secondary home market. Many people live in this area during the cold months and don’t sweat it out in the summer. They come into town around October or November and stay until March.

What does this have to do with you and your home sale?

Well, most secondary homeowners sell their homes while they are living in them. That means a lot of secondary homes come on the market in the fall and spring. If you live in a neighborhood that has been inundated with secondary homeowners and you’re thinking of selling your home, this directly affects you.

When more secondary homes are on the market, you will face more competition.

Conventional wisdom dictates that it is best to wait until fall or spring to list your home because it’s a better time to sell. The problem with selling in the fall or spring is that you will be facing a lot of competition from secondary homes. Not only that, you will wind up in pricing wars and, when you’re competing with secondary homes, the odds are not in your favor.

If you are looking to sell your home in a market saturated with second homeowners, it might be prudent to put your home on the market ahead of the competition.

If you have any questions, please don’t hesitate to contact me. We can come up with a strategy for the best time to list your home so that you get a better price. I would be happy to help you!

How Do Window Coverings Affect Your Home’s Value?

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Window coverings for you home aren’t talked about much, but they are very important and do in fact affect the resale value of your property.

There are many different kinds of window coverings. Blinds, drapes, shutters, and sun screens are all common. However, do your window coverings work? How long have you had them? If yours are old or outdated, or you don’t have any, Chris from B&B Blinds is here today to talk to us about why they are so important. They have a special offer as well.

B&B Blinds is currently celebrating their 15-year anniversary and opening a new showroom in Gilbert. They want to pass on the celebration to all of our clients! They are currently offering a 20% discount on all products when you come visit their showroom.

You can check out a sneak peek of the showroom here, on a segment that they did with ABC 15 recently. You can also learn more about how to enter their Home Makeover Giveaway, which includes a free set of blinds. As you can see in the video above, there are a lot of great options.

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They want to pass on the celebration to all of you.

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I’ve known Chris for over 20 years, and we are very excited about this special offer they have made to all of our clients. If you have any questions for us or for Chris about how blinds and other window coverings affect your resale value, give us a call or send us an email. Chris can be reached at christopher.thomas@blindsaz.com or at 480-991-1500. Make sure you share this video with your friends and family as well, so they can share in the savings too! We look forward to hearing from you soon!

How Does Paying Less Commission Cost You More?

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call me at (480) 596-2900 for a FREE home buying or selling consultation
Today’s topic is all about why paying less commission will end up costing you more. The average agent will typically charge 6%, so why are there agents charging 4% and 5%? 

If an agent is going to reduce their fee to sell your home, most of the discount brokers we’ve experienced do not do anything except list your home on the MLS. The home then takes longer to sell, and the longer a home takes to sell, the lower the offers come in. You might save 1-2% on commission, but you’ll lose 3-5% on the sales price. That’s tripping over dollars to reach for pennies.

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You get what you pay for in an agent.

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Any agent that will reduce their paycheck by 33% or 66% for your business is not going to be strong enough to negotiate for your home. If they can’t even defend their paycheck, how are they going to defend the equity in your home?

You want an agent who will market your home aggressively, use a professional photographer, have a great team behind them, and negotiate top dollar for your property. Everyone on our team who negotiates contracts is a certified negotiation expert (CNE). We’re getting almost 2% more for our homes than the average Realtor and our clients are walking away with almost $7500 more in their pocket.

Don’t get caught up in a low commission because the truth is, you get what you pay for. You want top dollar and the best bottom line you can get. Any agent that is any good in any town is going to charge 6% or more. Anyone charging less is either part-time, new to the business, or has less than 5 years experience.

If you want to get top dollar for your home or know someone else who is looking to sell, give us a call or send us an email and we’d be glad to help you out.

How Will TRID Affect Buyers and Sellers in Phoenix?

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The CFPB implemented TRID, or the TILA-RESPA Integrated Disclosure, on October 3rd. TRID extends the period of time the buyer has to read the closing documents during a real estate transaction.

It’s important to note that your close of escrow could be delayed. In total, there is a six-day period for the transaction to be completed. The CFPB has determined that consumers would be better served by having a shorter time to review the new Closing Disclosure before signing the loan documents. This results in consumers having three days after receipt of the Closing Disclosure to review the contents of the form. However, the three-day review period begins upon receipt of the form by the borrower. This results in a six-day period from mailing to loan signing.

Your closing disclosure will also change. The HUD settlement statement will still be present, but it will look different than before because it is now called the Closing Disclosure. The breakdown is going to be more finite, so it may cause some confusion when these changes are first implemented. We recommend that agents call the title company if you have any questions, rather than trying to answer them yourself.

The biggest thing that the buyer needs to be aware of is that transactions will take longer to close. They will be given more information that they need to look at before they can close the transaction, so it will take a little longer. The good news is the extended time frame gives you more time to ask questions and understand exactly what is going on.

If you have any questions about this major development, please don't hesitate to contact us. If you need to get out of your home quickly, some of our lenders do have loan programs available that aren't subject to TRID regulations.

We look forward to speaking with you!

Should You Rent Your Current House or List It?

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call me at (480) 596-2900 for a FREE home buying or selling consultation 

Should you sell your home or should you consider renting it out for extra income? This is a question we get all the time, and an important one to know the answer to if you're thinking about selling.

Often, homeowners will decide not to sell their home because they are not happy with the current market value. There are a few assumptions to make if you're looking to sell your home for more money in the future than it's worth now: that the market is going to continue to go up, that you'll have the right tenant in the property, that you're going to manage the property yourself, that you stay in the state, and that you're not the kind of person who worries about whether a tenant is taking care of your home.

Owning rental properties myself and being a landlord, I can tell you there are some big risks to renting your home. You need to do a lot of screening to make sure you get the right tenant. Additionally, you're taking a gamble that the market is going to improve in the coming years so you can sell it for more than you can now. I typically advise my clients not to rent out a property for a short period of time. If there is equity there, it's typically best to sell the home, take the equity out, and not convert the property to a rental.

If you're looking to put the money back into real estate, when the real estate market recovers, if you buy another piece of real estate, you'll make more money on that real estate as well in most cases. The question is, would you rather convert your home into a rental and deal with the stresses that come with it or simply invest in another property to live in that will go up in value anyway? I'm not against owning rental properties, I just think there is simply more risk involved in rentals; if you do want to rent, I recommend buying a rental property up front rather than converting a property into a rental.

Of course, there are always exceptions to the rule. If you have any questions about this topic, or if you need real estate assistance, please don't hesitate to reach out to me. I look forward to helping you soon!

Four Ways to Add Value to Your Home

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call me at (480) 596-2900 for a FREE home buying or selling consultation

 It's selling season here in Phoenix, and I want to briefly discuss four different ways for you to make sure that you get top dollar on your home. 

1. Landscaping: Make sure that everything is in supreme condition. This is what initially attracts most buyers, so pay close attention and make sure the exterior of your home looks clean, organized, and inviting.
2. Paint: Repainting your home can bring you a very nice return on the investment. Think of a car with a bad paint job. Do you think someone would be willing to buy that car for top dollar? Probably not, so be sure to repaint your home to add some extra value.
3. Flooring: Buyers need to see great flooring, and so it doesn't matter if it needs to be cleaned or replaced. Just be sure that your floors sparkle.
4. Clean your home again and again: I cannot stress enough how important it is that you clean your home before you sell it. Clean in places that you've never cleaned before, because buyers will notice every little detail. Nothing turns a buyer off more than a dirty home because it tells them it has not been maintained.

Hopefully these four tips can help you to get top dollar for your home in Phoenix. The market is really heating up this year, so be sure to get a head start and get your home on the market right now.

Should I Sell My Home Occupied or Vacant?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
 Call me at (480) 596-2900 for a FREE home buying or selling consultation

If you're selling your home, you're probably wondering whether you should move out now or wait until you have found a buyer. There isn't an easy answer to this - whether you should move before you sell is dependent on many factors.

Do you have a lot of stuff in your home? Does the home feel cluttered? If the answer is yes, you have two options: one, thin out the furniture or, two, completely move out so the home can be shown in its entirety. If a home has too much stuff in it, it will feel cluttered. 

Another thing to consider is whether you can keep your home in show-ready condition at all times. Depending on your situation, it might be better to move out so that the home is clear and clean once buyers arrive. On the other hand, if you're a clean person who doesn't have to clean up after kids, staying in the home while selling might be a more convenient option.

When selling, you should ask yourself whether your furniture is in showing condition. If it is old and ragged, you should either replace it or move out and have your home professionally staged!

If you have questions about the moving process, or if you would like our assistance, give us a call or shoot us a quick email. We're always available to help!

Is Now the Time to Sell Your Phoenix Home?

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call me at (480) 596-2900 for a FREE home buying or selling consultation
Many on-the-fence homeowners ask me if there is a "right" time to sell their home. Today, I'll share my thoughts on the topic so you can decide the best possible time for you and your family. 

If you have a home that's in a 55+ community, there are more buyers in town during the fall and winter months. This is because older buyers flee cold weather areas in the winter to enjoy the wonderful Phoenix weather. While they're here, they will often look at properties to see if they can find a retirement or vacation home that suits their needs. 

If you have a larger home (4+ bedrooms), the crowd you want to market to will be more receptive in the late spring and early summer months. Single-family homes are usually sought by buyers looking to relocate and who come to Phoenix while their kids are out of school. 

If your home doesn't fall into either of these categories, give me a call or shoot me an email. I can pull up the history of your neighborhood and tell you what time of year is best for your specific situation. 

I look forward to hearing from you soon.

How an Amateur Agent Could Cost You Money When Selling Your Home

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call me at (480) 596-2900 for a FREE home buying or selling consultation

With so many Realtors in the Greater Phoenix area, it can be very difficult to select the right one. Today, we share with you some of the most common mistakes people make when choosing an agent, so you can avoid these pitfalls when the time comes for you to make your move.

Most homeowners will use a friend or family member to sell their home. While there is a relationship there, it doesn't necessarily mean they're the right person for the job. Here's a few things to consider:

1. 87% of Realtors are part-time: You don't want to work with someone who isn't completely dedicated to the success of your home sale. You'll leave money on the table and may even make yourself liable for lawsuits. 
   
2. Work with a reputable firm: Work with an agent who is with an experienced team, who has seen everything the world of real estate has to offer. 
3. Hire an expert negotiator: A good agent will be able to get you the best possible deal when buying or selling a home. An agent who sells at least 100 homes a year has the expertise necessary to get you what you want.
4. Check the commission: If an agent is charging less than 6%, chances are they're going to do a list-and-leave, where they'll throw your home up on the MLS and sit around hoping someone will come along and buy it. There's no marketing plan to get you more money for your home, and that could cost you.

If you are moving out of town, we can put you in touch with the best agents in other areas, so you're taken care of and your interests are defended. We want to make sure you achieve your real estate goals! If you have questions about selecting the right agent, so you don't leave money on the table, give us a call or shoot us a quick email. We would love to show you how we can help you get the most out of your real estate experience! 

Why Your Phoenix Home Won't Sell

There are many great homes for sale in the Greater Phoenix Metropolitan area. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 596-2900 for a FREE home buying or selling consultation to answer any of your real estate questions.
If you listed your Phoenix home, but were unable to sell it, I'm guessing you've been getting a ton of calls. You've probably had multiple agents promise you that they can get you more money, will charge a lower commission, and have more marketing acumen than your last agent, among many other big claims. You're probably thinking, "My home was on the market before, what makes you think it will sell now?"

Having an expired listing can be a very stressful experience, but it doesn't have to be. I want to share the marketing plan that most sellers use in your situation to get your home sold quickly and for top dollar. Give me a call at (602) 738-9943 and I'll fill you in. Or, if you're not ready to talk to someone yet, you can visit www.ThePenroseTeam.com to get an automated home evaluation for your property to get an idea of what homes are selling for in your neighborhood. This is free, with no obligations required. I want to get you this information so you can make informed decisions in the marketplace!

If you have any questions, or if you would like our assistance, give us a call or shoot us an email at any time. We would love to help you out! 

People Are Flocking to the Valley - Will They Pay Top Dollar for Your Home?

There are many great homes for sale in the Greater Phoenix Metropolitan area. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 596-2900 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we're going to tackle three big events coming to town soon: The Super Bowl, Barrett-Jackson, and the Waste Management Open. These events are going to bring A LOT of people to the Valley - probably more than we've ever had in the valley at one time. But what does this have to do with real estate?

There will be a lot of out-of-town buyers and investors looking at Phoenix real estate during this time. Many of them are coming from colder climates and, when seeing our beautiful weather, will decide they want a place in a warmer area. 

This means there will be a lot of great opportunities for sellers in the first quarter of the fiscal year. If you're looking to sell, now would be the time to do it because there are a lot of eyes on real estate here in the Valley! If you live near the stadium and are thinking about renting out your home during the Super Bowl, give us a call and we'll give you some great resources to make the most of that process. 

As always, give us a call or shoot us an email with any of your real estate questions or concerns. We would love to hear from you!

Renting Vs. Selling

There are many great homes for sale in Greater Phoenix Metropolitan. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 596-2900 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I want to talk to you about a dilemma that many homeowners face when deciding whether or not to put their home on the market. There are pros and cons to both sides of the rent vs. sell debate.

If you want to become a landlord, there are some things you need to consider first before you take the leap. The first thing you need to think about relates to if the property has a pool or not.  If so, your tenants will most likely not service the pool, so you will need to hire a pool maintenance service. You will also need to make sure the pool area is secured and/or fenced.

In addition to these measures, you will also need to update your insurance. An umbrella policy will cover you for any liability you may have. It also might be a good idea to consult with an attorney about making your property an LLC.

Another step you will have to take in the landlord process is hiring a property manager. This person will ensure you are in compliance with the Arizona landlord-tenant act and will have duties such as collecting rent, making payments, and taking care of maintenance around the property.

If you are hesitant about selling your property and decide to wade it out and rent for a while, know that you are taking a gamble. While the market may improve in the future, there is also the possibility that it could get even worse. It's difficult to predict the market in advance and your decision to rent could result in you being stuck with the property as a rental for life. Also, if you don't get the right tenant living in the property, you could be putting the money you profit from the property right back into the house for repairs.

Before you make the decision to rent or sell, call me and lets talk about the value of your property and what you may be able to sell it for right now. I have been a landlord for the last 10 years and in my experience, most of the time it makes more financial sense to sell. But all cases are different, so give me a call or e-mail today and we can go over your individual situation!