Recent Posts: Home Buying

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Solar Panels, Part 2 – Lease Transaction Traps.

Leased solar panels interfere with and sometimes prevent sales and closings. Buyers that sign a contract to buy a home with leased panels will need to qualify to take over the lease. If the solar company decides the buyer doesn’t qualify, unless the seller buys out the lease, the deal is dead. Plus the lease […]

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Don’t Under-Budget your Custom Home.

Its said that over 50% of custom builds never get off the ground. The number one reason is that many people do not prepare a realistic, comprehensive budget. To avoid disappointments, early consultation with an experienced builder is essential. A competent builder is a valuable partner in avoiding pitfalls and offering plan alternatives that will […]

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Solar Panels, Part 1 – Lease Transaction Traps.

You have solar panels on your home and you decide to move. You assume that the presence of solar panels will be a marketing plus, maybe even get you a higher price. That should be case, but when the panels are leased, it might not. Some buyers will balk when they learn that they’ll need […]

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Why New Homes Are Expensive.

New-home prices have risen higher than anticipated when comparing those built in 1970 to homes built today with similar characteristics. According to an analysis by economist Tom Lawler, new homes are selling for an average of more than double what they sold for in 1970, after adjusting for inflation. New-home prices should be up only […]

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5 Ways to Save for a Downpayment.

Saving up enough money for a down payment can be tough. The best way is to segregate funds dedicated to that purpose on a regular basis through a separate account – like a savings account. Then try these methods: 1. Set up automatic transfers from your checking account to your savings account on a monthly […]

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Horrifying Home Stories for Halloween.

A real estate photographer was taking photos of an old home with the agent present. Afterwards he looked at one of the photos taken in a room with a mirror when the agent was standing behind him. But in the reflection from the mirror, instead of showing the agent, the picture had an old man […]

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More Horrifying Home Stories for Halloween.

An agent’s buyer had a sister-in-law that was a medium. After the buyer put a contract on a home, the sister-in-law went through the home during the inspection to make sure there were no malevolent spirits lingering. As she left, she said: “I got rid of two, but there is a spirit in the front […]

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Arizona Has the Best Cities for Families.

Chandler is the best city in the U.S. to buy a home big enough to raise a family in, according to SmartAsset.com. Other Phoenix-area cities highly ranked were Gilbert at #3, Scottsdale at #8, with Glendale and Mesa also in the top 15 of the 100 cities analyzed. Los Angeles, New York City and Chicago […]

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Why Do You Need Title Insurance? Part 1.

Title insurance is an indispensable part of a real estate transaction. It’s a standard requirement in most real estate contracts and its required by lenders. It also protects the buyer and seller from title defects if later something goes wrong. Examples of covered defects include where an executor transferring real estate never had the probate […]

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Decoding Sale and Loan Docs, Part 5.

In What’s in a Preliminary Title Report? I told you about the importance of the preliminary title report/title commitment. The commitment is an important buyer “Transactional” category document (see Part 1‘s description of the four categories), because it is the prerequisite to issuance of title insurance. The title company researches the public records, and excludes […]

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Decoding Sale and Loan Docs, Part 3.

Educational documents/documents you may need after closing.  Educational documents mainly are directed at the buyer/borrower, and most give information about the mortgage process. These contain info which may be useful and should be read. The loan related papers can generate questions that the loan officer should be able to answer. Documents that may be needed […]

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What Do You Need to Afford a Home?

The monthly amount necessary to acquire/own a home should be no more than around 28-30% of gross income. Include in this payment the monthly anticipated loan principle and interest, homeowners insurance, real estate taxes and association fees. To calculate that amount divide your gross income by 12, then multiply by .28 or .30.

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Where are the Highest Natural Disaster Risks?

RealtyTrac’s 2016 U.S. Natural Disaster Housing Risk Report rates counties for risks of natural hazards, such as hurricanes, wildfires, tornados, earthquakes, or floods. The 3 states whose counties had the highest risk index (high and very high) were California Florida, and Oklahoma. In those 3 states the largest counties that have the most properties at […]

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Decoding Sale and Loan Docs, Part 2.

First in the analysis of documents used in residential transactions are junk documents. The documents that fit in this category are non-negotiable or provide minimal or no useful information. Most are directed at borrowers, and are acknowledge that disclosures required by law have been given by lenders. For example, that borrowers must receive a Good […]

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Paradise Valley Luxury Living at its Finest.

Our latest listing is a masterpiece of contemporary architecture, modern design and luxury. This completely remodeled one-of-a-kind, solid block home is just under 4,200 sq. ft. and has 4 bedrooms, 31/2 baths. The opened floor plan features a top-of-the-line gourmet kitchen and a see-through, glass-backed, stack stone fireplace, enjoyable from inside the great room and […]

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