Wednesday, June 26, 2013

Flagstaff Mortgage Update June 2013


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What's Happening with Flagstaff Interest Rates?
The biggest question everyone has is what is going to happen with interest rates. Well, they are on the rise. Within the past two weeks, there was the largest spike in rates that I’ve seen in my career. Because of this, there will be a fall in the refinance volume. It is a healthy increase in rates, though, because there is such a shortage in inventory.

What Kind of Products are Available?

There has been a push back against manufactured homes. There are still finance options available, but it is a difficult market to get into.

What are Some Up-and-Coming Flagstaff Mortgage Products?

Renovation and rehab loans are phenomenal right now. So, if you are looking to modernize your home, replace those old kitchen countertops, etc., there is some great financing for you.

What Kind of Documentation Will You Need?

When applying for a loan, a lot of people feel like they are being picked on. Extensive documentation and questioning are not unique to you alone. Bank statements, questioning where deposits come from, etc. are standard for all those applying, in hopes to mitigate fraud and default rates.

These are some of the biggest challenges I see in the market right now. If you have any questions please call me at 928.214.7100

Monday, March 25, 2013

Transformation: Depersonalize and Neutralize

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You want to sell your home quickly. The fastest way to do so is to start depersonalizing your home to create a blank canvas. You don’t want to distract the buyer with your personal belongings, so pack up the photos, and let the buyer imagine their own photos on your walls and knick-knacks on your shelves all the while saying, “I can see myself living in this home!” Less is more. To help create the blank canvas, paint is inexpensive and it will increase the value of your home, but you need to choose a neutral palette. The goal is to appeal to the masses because when you do, you get more showings, which leads to more offers and then, ultimately, the highest price possible for your property.

Wednesday, January 30, 2013

It’s Cold Outside But The Real Estate Market Is Heating Up In Flagstaff!

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Here we are almost in February of 2013 and things are heating up! Not outside, but rather in our real estate marketplace. More and more people are out there getting ready to sell their homes and with good reason. Interest rates continue to present fabulous opportunities for buyers and as the weeks and months go on, we will see a LOT more competition out there.

We had a great year in 2012 and we look forward to making this one even better! In fact, our goal is to help at least 202 families by July – and we need your help to accomplish our goal.

Thank you for all your referrals, your trust in us and your continued support. You are the reason we are at the top of the list in Flagstaff real estate and we don’t plan on letting that change anytime soon.

Contact us today if you would like us to help you make your real estate goals and dreams become a reality. There is nothing more rewarding for us than to be able to serve our friends, neighbors and community!

(928) 214-7100

Friday, January 18, 2013

8 Secrets to Getting Your Offer Accepted in a Multiple Offer Situation

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With our shifting real estate market comes new (and in many cases) welcome problems to have to deal with. Take the relatively new occurrence of multiple offer situations in our area lately. After months (and years) of a buyer-controlled market, we are finally seeing fewer homes available and more buyers interested in the choice properties that are out there.

So what do you do if you are a buyer faced with multiple offer competition?  You BEAT that competition!  Here are eight ways to get around those other offers, make yours stand out and GET the home of your dreams!
Avoid a Bidding War in the First Place
One of the easiest ways to avoid a bidding war is to act fast on your interest in a home. If you see it, like it and want it – make an offer on it! There is no reason to delay things because eventually you will have a chance to look back on the purchase while it is under contract and iron out any details. But if you don’t want other buyers fighting for the same house, beat them to it.

Keep The Emotions Out of It
Some overzealous buyers that don’t have their offers accepted lash out and retaliate against the sellers. Expressing anger and disappointment through a letter or via their agent is not a smart way to handle the situation. Often the first offer on a home is not even realized, where the seller revisits other bids received, going to their next choice. If you handle rejection gracefully, maybe with a thank you letter expressing regret but that you’re interested in the home should they change their mind, you may walk away with your dream home after all.

Bring Some Personality to Your Offer
While some agents prefer to make offers on behalf of their clients in writing and other impersonal ways, the best way to do it is by bringing an element of personality into your offer. Write a handwritten letter expressing what you love about the house and that you’ll take care of it just like they have for so many years (if applicable). This will show your sincerity in wanting the house and it will also stick in their minds when they go back to review all offers received on the property.

Choose a Communicative Agent
As mentioned in the previous point, some agents choose lackluster means of communication. When hiring your agent, be sure to select someone that is warm but also on the ball and quick.
Accessibility is key for the buyers’ agent as much as it is for the sellers’. If the seller is to gauge the level of your enthusiasm then they must be getting those signals from your agent.

Know Your Numbers
Sometimes the final sales price doesn’t matter. There will be an appraisal before the home is financed, which is the value that you will end up paying on the home. Knowing in advance gives you a head start over other buyers since you will be armed with knowledge ahead of time and can anticipate a reasonable offer accordingly. You should be aware of price per square foot as well as other comparable sales in the area. Keep in mind, there may not even be a need for a bidding war because the price might be capped by the appraisal anyway.

Don’t Stray From the Straight and Narrow
Offers that are simple, cleanly written and to the point are the ones sellers respond to the most. Especially in a multi-offer situation, sellers do not want to have to rifle through endless pages of contingencies, conditions, minor detail mongering and other unnecessary things. The easier you make it for the seller, the better your chance to get the home of your dreams. Remember that at the end of the day you can go back and identify any specific wants you may have but just wait until you have an accepted offer.

Choose Your Priorities Carefully
A common request these days is for FHA buyers to request assistance from the seller with closing costs. If you are a buyer that is faced with a multi-offer situation and you have the choice to not ask for closing costs – you may just be able to win your bid after all. Most sellers today are selling their homes after 10, 20 years and they have no idea of the recent trend of closing cost sharing. To avoid this and the potential of losing your bid on the home overall, don’t ask the seller – make alternate arrangements for closing costs. Borrow from someone. Accept a gift from a family member. Tap into your savings.

Do Better Than the Rest
An excellent tool used by buyers in these situations is to offer more than everyone else. Everyone wants more money and in today’s market sellers are already getting less than what they had expected to get. If you have found the home of your dreams pay extra money to make sure your offer is the one that is accepted and it will offset any costs you may have needed to put into a less-than-perfect property otherwise.
Remember, this is a time when more buyers are vying for fewer available homes. So nothing is foolproof and there is always the potential of not winning your bid. The best defense you can have against that happening is to be prepared in advance. Get ready to be disappointed. If the home you are looking at is perfect, chances are there are others looking at it with the same eyes too. Aside from putting into our secrets into play, the best thing you can do is to stay realistic. When the right house comes along – things will fall into place. Good luck!

Wednesday, December 5, 2012

The Flagstaff Real Estate Market Continues to Present Fantastic Opportunities for Buyers and Sellers

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Now, it may seem that it is not possible to have a buyers’ AND sellers’ market but truth be told, we are definitely leaning toward that phenomenon. With our inventory levels lower than they have been in ten years – sellers are starting to enjoy the perks that come from heightened demand in the marketplace. It turns out that fewer homes, combined with great interest rates and buyers’ post-election pent up demand – results in more money in sellers’ pockets. We are also seeing multiple offer situations and in some cases if it’s a great home that is priced well, we are even seeing some price wars.

From a buyer’s standpoint, what better time could you find to buy a home than when interest rates are in the low 3 percent range? Combine that with reasonably low prices and the relaxed lending practices these days then you will quickly realize it’s a win-win combination for all. You can get so much more house for the same amount of monthly payment – and very surprisingly, it’s largely because of interest rates plus depressed prices.

If you know of anyone that is considering selling their homes – we want to hear from them! The market needs more homes for sale. Trust me, they will thank you for it!

As always, I welcome your calls, emails and visits for any of your real estate needs and look forward to helping you achieve your real estate goals!

Monday, November 26, 2012

Celebrating Our 100th Transaction of 2012!

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We love what we do and this year as our business thrived and we got to see through so many successful real estate transactions, you can imagine how excited when we crossed over our 100th transaction!

It’s not even the last month of the year but with the holidays around the corner, I especially enjoyed the opportunity to mark this wonderful occasion with someone special! With a special treat given to one of our favorite clients, Dave Call, a client that has worked with our firm for approximately fifteen years we are now embarking on yet another leg of this amazing journey.

I want to thank each and every one of you for trusting in us, for allowing us the opportunity to serve you and for supporting us throughout the year. We invite you to please share this video with anyone else you may know that would benefit from our services.

Thank you!

Monday, October 1, 2012

Listing Your Home in the Winter – Flagstaff Real Estate Market Snapshot

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Contrary to popular belief, selling a home during cooler months of the year is not entirely a wasted effort. The truth is that many people continue to seek homes during these months and the number of sales does not decline that much as compared to spring and summer selling seasons.

To help illustrate this fact, I have pulled some statistics to show you just how successful other sellers have been in selling during the winter. It turns out that looking at the six-month period from September 1, 2011 through March 31, 2012 – the total number of homes that sold was 624. When you compare that to our current inventory of 679 available homes on the market you can see that the numbers are very close.

What this means is that if we were to keep all existing inventory on the market, based on last year’s trends, we would sell most of the inventory by the end of March. Now, of course that takes into account only a current snapshot of the market but the bigger picture is that winter is not an inopportune time to sell at all!

Keep in mind that taking your home off the market for some time can throw off the stabilizing mechanism that comes naturally in a marketplace where we are seeing declining inventory levels against increased demand. That is why I strongly encourage my sellers to consider leaving their home on the market during this time.

Here’s another statistic that will help you to see why the holiday season does not hold back buyers. Last year in December the total number of homes in Flagstaff that closed was 78 – more than two homes per day! Despite it being directly during the holiday season we still saw plenty of activity in our marketplace. The biggest secret to know is to keep your home on the market in the wintertime.

If you would like a customized look at your property, for help about pricing or anything else you may need – contact us today at 928.214.7100 or via email at We look forward to hearing from you!