Blog Archives

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Loan Limit Increase.

The Federal Housing Finance Agency has increased the conventional loan limit from $484,350 to $510,400. This gives borrowers more buying power, allowing them to avoid more expensive Jumbo Loans and their stricter restrictions. So you can now afford to buy more home in the metro Phoenix area – one of the hottest housing markets in […]

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Buy A New Home.

New home sales in the Phoenix metro area were up 36% in October 2019 over that same month in 2018. In addition, single-family building permits in October 2019 were the most issued since July 2007.This means new home construction is finally catching up after years of below average building activity. New homes have on average […]

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Shopable vs Negotiable Home Buying Costs.

A service is shopable in the home sale process if there are different providers which quote different prices. An example of shopable service costs are a home warranty and a home inspection. But escrow and title services (the biggest costs) are not really shopable in Arizona as prices for these service are similar from company […]

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Horrifying Home Stories for Halloween, #2.

An agent checked out a new listing of an old home. All of the bedrooms of the home were in the basement. The agent walked down the stairs into a long, dark hallway that lead to what appeared to be the master bedroom. Every turn she took in that room she felt someone was watching […]

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Horrifying Home Stories for Halloween, #1.

About a week prior to close of escrow the sellers received a letter from a person called “The Watcher.” The letter claimed a right of possession to the home. Following close of escrow, the buyers began receiving threatening letters from The Watcher, who advised the buyers of its history of keeping the house under close […]

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What is a CFD?

A Community Financing District is a method of paying for an improvement (like sewer lines) which benefits a number of properties. The impact on an owner of a home within a district is a periodic payment paid through the property tax collection process. CFD payments can be expensive and last for years. To ascertain whether […]

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Phoenix Real Estate Rocks!

May 2019 was a record-setting month for home sales in the Phoenix metro area. New all-time records were established for both sales volume and total dollar volume , as well as for the number of homes sold and the most money spent. The monthly median sales price set a record high reaching $278,000. That means […]

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The Seasonal Market.

Peak times for home contracts to be signed are the spring in the Phoenix metro area. In some cities there is another up tick in the late fall, but any sales increase after the summer is minor here. Low points for closed sales typically are in January and February – a reflection of low contract […]

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What is an Incurable Defect?

An unfavorable property characteristic that can’t be fixed, such as a location on a busy street, is known as an incurable defect. This requires the value to be adjusted downward from that of a comparable home to reflect the “defect”. What does this mean to a buyer? Using a home on a busy street as […]

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Buy a Home Anywhere in Arizona.

Thanks to the Arizona Assoc. of Realtors, we now have access to homes listed for sale in Tucson, Prescott, Sedona, Lake Havasu, Yuma and most of the rest of Arizona. This means that SimplySOLD can now offer an expanded level of service to our local, Canadian and international clients. The change involves the decision by […]

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Get Home Buying Help, Part 3.

Get an Advocate. The most important advantage of real estate representation is having an advocate that puts your interests ahead of all others. A good agent can look at any given situation, give you advice and options, and then obtain the terms you need so you can move onto the next step. For example, requesting […]

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Buying a Oceanside Home in Mexico.

When purchasing coastal property in Mexico, a Fideicomiso is necessary. A Fideicomiso is a living trust format, used to circumvent the prohibition against the acquisition of ocean front land by non-Mexican citizens. Its probable origin is the fideicommissum originated by the Romans. It was created in order to avoid the strict regime that prevented non-Romans […]

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Checking on Your New Build Home.

The purchase of a new home is different from that of a resale due to the construction required. You should try monitor the building process to the extent possible. It is a good idea to regularly visit the site and take pictures. The best times are when framing, plumbing and electrical rough are taking place, […]

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Get Home Buying Help, Part 2.

Get a Good Deal. When you don’t have an agent, finding the perfect home is a challenge. Agents see homes enter and leave the market every day – homes with diverse styles, prices, and neighborhoods. Agents are able to see when patterns emerge, and can tell you if a home is appropriately priced or over […]

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Get Home Buying Help.

Part 1 – Get What You Want. Shopping for a new home can be a daunting task. You may know exactly what you want or a good idea of what you’re looking for, but you still have to find it. That can mean countless hours of scouring listing after listing, poring over every minute detail […]

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