Recent Posts: Home Buying

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The Bank of Mom and Dad.

Coming up with a down payment can be difficult for young home buyers and those with high student-loan debt. But many mortgage programs allow parents to help fund their children’s down payment. There are of course hoops to jump through to assure the lender that the down payment is not an undisclosed loan. The money […]

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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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Floodplain Insurance Requirement Dropped.

Hundreds of Scottsdale residents in the Grayhawk master-planned community have been removed from the Rawhide Wash 100-year flood plain. This revision to the flood insurance rate maps means pricey flood insurance is no longer mandatory for those home owners with a federally-backed mortgage that are now outside the boundaries of the 100-year flood plain. Those […]

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Ride-Share House Scouts.

Real estate firms are hiring ride-sharing drivers from Uber and Lyft to search for house flip projects. The drivers look for homes that appear to be good candidates for renovation and sale. One company hires drivers to find potential flip houses in 20 states. Drivers get paid either a sales commission or a fee for […]

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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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Get A Free Down Payment.

There is free money available for certain Arizona home buyers! Millions of dollars are allocated to down-payment assistance to qualifying homebuyers who intend to occupy the home. The AzHFA Home Plus program provides a down payment assistance grant equal to a percentage of the principal balance of the loan (4-5% of the balance) to primary […]

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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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Five things home buyers hate.

Bad listing photos. Poorly executed (i.e., dark, taken from an awkward angle) and poorly chosen photos (of unattractive areas and things, small rooms). Only the best aspects of a home should be featured. More is not better! Messy homes. No boxes should be on the floor, items should be put away, and it needs to […]

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Don’t Overpay for Title Insurance. Part 1, Investor/Builder Rate.

Reduced title insurance premiums and escrow fees are available to certain buyers and sellers, but they are not volunteered. Since title insurance is the biggest escrow/title cost, it’s worth it to find out if a discount applies. One reduced rate that may be available is for builders, contractors, developers, real estate agents, attorneys, or investors […]

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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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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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How to Finance a Fixer-Upper.

The FHA 203(k) program is a loan product designed to help owner-occupants remodel a home. Available when purchasing or refinancing a home, it wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for the area. There […]

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