• Planning for the Purchase – How much should I put down? Who can help me with financing? How long is a typical escrow period? Will my close of escrow change if I buy a short sale or if I  build a home? How long is the inspection period? How do I build my negotiating power before I write a contract?

• Knowledge of the Local Market – Searching the Phoenix MLS for Phoenix Homes for Sale is just part of the process.  Equally important is understanding the Local Market.  What are the local schools like? Are we near a superfund site? What are comparable homes recently sold? Who can help me paint, install carpet or make other repairs?

• Finding That Special Home – Where can I find that perfect floor plan? Are there homes available that are not in HOAs? We really would like a diving pool, not a play pool, is that possible? Are there homes that allow horse privileges?

• Troubleshooting Challenges That Arise – What happens when the seller needs a new roof? We love the home and our appraisal came in low—what’s next? The seller is a bank and is not going to fix the holes in the wall, should we cancel?

• What Are the Best Deals in Town? – Is this home a good deal? What are typical costs for real estate transactions in the Phoenix Real Estate market? A great real estate agent knows what a good real estate transaction is for their market. Knowing the market is a key to knowing what kind of home a buyer may be able to purchase and what fees are typical. A good agent also knows where to find the best properties and floor plans.

Are you ready to get started finding that special home? Our Phoenix AZ Realtors can help you with all these questions and much more! Contact us at www.ThompsonGroupAZ.com or 480-776-5214 today!

 Marketing and Selling Homes is Serious Business.

A well planned and executed sale of a home allows the homeowner to move forward with their next phase of life. However, mistakes may cost thousands of dollars and hours of stress when escrows are canceled. Nothing may be more important in the transaction than the knowledge and experience of the agent giving you advice. So, here are a few good questions for you to ask your agent:

• What do you know about the area? At times, knowledge of the area can be the key to selling a home. Buyers that are new to the area need to know information about schools, movie theaters, shopping and more. An agent who lives in the area can help buyers identify how they will enjoy the area –  and many times, the home will sell quicker.
• How do you market my home? Believe it or not, some agents think that ordering a “for sale” sign and putting your home in the Phoenix MLS is how to sell a home. This is only the beginning! Great agents should be able to deliver to you a written marketing plan tailored for the Phoenix Real Estate market along with success stories from using that plan.
• How much are the costs of selling my home? In order to plan for the future all homeowners with Phoenix Homes for Sale need to know the amount of money they will have after the sale of the home. Great agents should be able to estimate the cost of real estate commissions, title fees, loan costs, repair costs, and property taxes.
• When will the buyer’s loan be approved? Without loan approval, the sale of the home cannot close escrow. In tracking a lender’s process, a great agent should know how to use the LSU (Loan Status Update) form, what “PTD” conditions are, and what is the time needed for a lender to get loan documents to title after full loan approval. Being able to track the lender’s progress is essential for a seller to know whether they will close on time or not.
• What is breach of contract and how do you handle this? In the Arizona purchase contract, the seller is unable to exit the contract while the buyer retains over five  exits from the contract. However, if the buyer is in breach of contract, then the seller may exit the contract. Breach of Contract occurs when the buyer takes actions that are contrary to the written contract. This is a serious situation that experienced agents should have a plan to handle.

Do you want to learn more about how to make your home-selling process go smoothly? Our knowledgeable Phoenix AZ Realtors are here to help ensure just that. Contact us at www.ThompsonGroupAZ.com or
(480) 776-5214.

• Overall Home Supply – At the end of March, the total number of Phoenix Homes for Sale for the entire Phoenix MLS was 16,268. Year over year, this is about a 1% increase in housing inventory.  The number of sold listings for the entire month of March is 9,621. Based on the March sales, the inventory of active listings represents a 1.7 month supply. With inventory of homes well under 20,000, the Phoenix market should continue to see appreciation of Phoenix homes.

• Local ZIP code of 85224 – HOT! The Chandler ZIP code of 85224 shows that in March there were a total number of 48 active real estate listings, with the total number of sold listings coming in at 71. In other words:  there’s less than a month supply for this popular Chandler ZIP code.

• City of Chandler – EVEN HOTTER! If you are looking for a “starter” home in Chandler, inventory is low. For the entire city of Chandler, the number of active listings for single family homes between 1,200 and 1,500 square feet is 26. The number of sold listings in March came in at 83. THAT means there is less than a one month supply of homes.

• Phoenix Home Sales –Year to date, the Phoenix MLS recorded sales of 22,102 homes – or an average of 7,367 homes per month. That’s a stellar start for 2013 for Phoenix AZ Realtors and this data shows buyer demand is continuing to be robust.

Do you need to consider a short sale to unload a burden of debt? Or are you looking to maximize your selling price? Here at the Thompson Group, our goal is to show you the BEST options for your situation. Give us a call at 480-776-5214 or find us at www.ThompsonGroupAZ.com .

Congratulations Marilyn!

Marilyn just closed on her home in the East Valley and the Thompson Group hosted a Housewarming party for her March 28th.  Tammy Brown from the Thompson Group represented Marilyn in the transaction as her Realtor.

Marilyn and Tammy laugh when they talk about writing the offer because this home was on her “don’t like” list. Tammy had a gut feel and decided to show the home to her anyway. Marilyn fall in love with the home from the time she walked in the front door!  In these days of multiple offers, they had to be out there first and luckily got this beautiful 2BR home for her.

Marilyn has made many friends as you can see in her housewarming photos. Congratulations to Chuck and Paul, our door prize winners.

And Congratulations Marilyn on your new home!!

Yum!

   Before Photos:                                                                                        After Photos:

• Focus Local and Worldwide. Recently our team got call from a prospective buyer in New Jersey about one of our listings. The caller, who happened to have cash, found one of our listings via the internet. Unable to find a local Phoenix Real Estate agent the buyer called us directly to purchase the home. The buyer remarked, “Your home is beautiful.” While our seller took credit for the beautiful home, we took great pride in making sure there were professional photos that showcased the home. We also took great pride in a marketing plan that showcased the home to a wonderful buyer in New Jersey.
• Focus on the Internet. The internet has huge potential to market our listings, but it is also very risky. While showcasing a home’s best features, the internet can also make a home look very bad. Dark pictures, pictures of small rooms, pictures of the commode, and even the lack of any pictures will dissuade buyers from looking at your home. The presentation of a home over the internet should entice a buyer’s interest enough that they schedule a showing with any Phoenix AZ Realtors to see more of the home.
• Focus on the Phoenix MLS. The Phoenix MLS allows home owners and agents to add lots and lots of features. Important upgrades like granite counters, RV gates, energy efficient upgrades, cul-de-sac lots, vaulted ceilings, etc. are extremely important to buyers. And many buyers and buyer’s agents will search for these important upgrades on the internet and the MLS database.  Every time a buyer searches for features and finds your home, he or she is more likely to want to see your it.
• Don’t Forget Traditional Advertising. With iPhones, tablets, Kindles and many other tech devices, it may be easy to forget the traditional advertising. However, traditional advertising is still very successful for attracting buyers. Newsletters, “Just Listed” notices, and color flyers are still huge attention-getters. While younger buyers under the age of 30 will start their search for a home on the internet, many older buyers will start their search with the newspaper or from items received in the mail. On a daily basis, many Phoenix Homes for Sale are found via the local paper.

A great marketing plan includes aspects of all these items and any other ways of getting buyers to see your home. Remember, the name of the game is exposure, exposure, exposure. Do you have more questions? Do you want to learn more about this or other ways to get the most money from the sale of your Phoenix Arizona Homes? Our team can help. Contact us at (480) 776-5214 or ThompsonGroupAZ.com .

The first expense you’ll get is the earnest money deposit. This is due when you make an offer, and it is typically $1000 or 1%, whichever is greater.  This is actually part of the purchase price of the home, but you pay it well before the rest of the money is needed.

The next expense you’ll get is deposits for turning on the utilities if the seller has turned them off.  This can run from $30 to $200 for each service you’re connecting — electric, water and gas. These need to be on for the inspection and then turned back off until closing.

After that, you’ll pay the inspectors, for their inspection reports. These reports run about $350 – $400, for a basic inspection plus a termite inspection. If the property has a pool, that runs another $50-$60.  This isn’t a required expense, but highly recommended to have someone inspect the home and spot any problems that might not be so obvious. The inspector may recommend getting further evaluations from specialists such as a structural engineer, air conditioning technician, or a roofer, depending of course on the findings in the initial inspection.

Finally, if you are getting a loan, your lender will require an appraisal, which runs $400-$500 and also needs to be done and paid for before closing.

So when you add all that up, it costs $1900 – $2600, to cover the out-of-pocket expenses that are needed before you even pay for the house itself.  Even if you take the $1000 earnest money out of those figures, it still adds up to $900 – $1600, which is a lot of money that most people who haven’t done it before aren’t aware of, and haven’t budgeted for.

Our Phoenix AZ Realtors are experts at helping you find the gems in the Phoenix MLS as you look for Phoenix Homes for Sale.  What’s more, they have many more tips to share with you if you are looking to make a home purchase. Contact us at www.ThompsonGroupAZ.com or 480-776-5214. We’d love to help.

• Comparables – Is your home priced right according to comparable properties? Comparable Phoenix Arizona homes that have sold recently can give you a great idea of how well your home may appraise. Active, pending Phoenix homes for sale give you a great indication of where the market is and what your competition is as you try to get that next buyer. Pricing considerably higher than the Active, Pending or Sold properties probably will impede a quick sale and extend your time on market.
• Showings – What kind of showings are you getting each week? Has it been a few weeks since you last saw a buyer’s agent in your home? If so, you are probably overpriced. A good sign that you are priced right is getting 3-4 showings a week from qualified buyers working with Phoenix real estate agents. Sorry, open house traffic and door knockers don’t count.
• Market Changes and Activity – What is the market doing? Are interest rates higher or lower? What’s new on the Phoenix MLS? Are there a lot of bank-owned properties or short sale properties in your area? Does your area attract lots of first-time buyers or move-up buyers? All great questions to ask when deciding on how high or low to price your home.
• Do you really want the truth? Many times sellers and real estate agents just are not able to be honest about how bad the situation is. It’s usually far more useful to understand the realistic factors necessary to accomplish a goal than conjecture about what to do with lottery winnings. Assuming that’s your position, ask your real estate agent for the honest truth:  What list price does your home need to be at in order to sell in the next 30 days? Just be prepared for the answer!

Rather not figure this out on your own? Our Phoenix AZ Realtors would love to help. Contact us at www.ThompsonGroupAZ.com or 480-776-5214.

In most cases, though, this is really a misconception. Money paid out as rent is simply money spent. It’s like burning money – aside from the roof over your head for another month, the only person that benefits from that money is your landlord.

On the other hand, turning your rent payment into a mortgage payment will allow that roof over your head to turn into an investment and allow your money to work for you! There are plenty of Phoenix homes for sale available in the Phoenix MLS, so now may be the time to make a prudent decision.

For starters, every dollar of interest paid on your mortgage is tax deductible. Typically, in the first five years of your new mortgage, most of your payment is interest, and therefore is tax-deductible. For a mortgage payment of $1000/monthly, a homeowner could see $8,000-$10,000 in tax deductions.

Another BIG break available right now is record low interest rates. Current rates are in the range of 3.5%-4.0% and allow for a mortgage amount well over $200,000, if you want to keep your payment under $1000/month. Situations do vary, but most home buyers are surprised at what the kind of home and purchasing power is available to them. We have great mortgage officers available if you have questions!

Another great reason to purchase is that once you own a home, you will have potential for future appreciation. On average, most Phoenix Arizona homes appreciate 3-5% per year, often doubling (or more) the value of your investment over the term of your mortgage. In 2012, Phoenix real estate saw increases from 20-30% in home values. On a $150,000 home, that is an increase in value of $30,000-$45,000.

Finally, aside from the financial advantages, as a homeowner, you have the powerful “Joy of Ownership.”  You get to enjoy your home and your home is now YOUR castle – not someone else’s property that you’re living in temporarily. As a home owner, you can paint the walls, pick out your favorite carpet, enjoy your gourmet kitchen, splash around in your pool… You get to decide how you live!

Today is a great time to buy a home. Our Phoenix AZ Realtors would love to help. Contact us at www.ThompsonGroupAZ.com or 480-776-5214.

The Staging rule of thumb to keep in mind: You are trying to help potential buyers feel that your home will become their castle. To do this, just remember that appealing to a home buyer’s five senses – sight, sound, smell, taste and touch – will be the key to successful staging.

Sight – Light, bright homes with neutral colors and a few colorful accents appeal to more buyers. Bold, vivid colors may be more “you”, but remember that you’re trying to provide more of a “blank canvas” that a potential buyer finds attractive now, but can also visualize making their own.

Sound – Ever heard the expression “the silence was deafening” or “quiet as a tomb”? Well, walking into a totally-silent home can be like that – possibly eerie or oppressive, but rarely welcoming. Leave some soft, light music playing to help provide a tranquil, inviting ambiance.

Smell – Make sure to avoid any strong aromas. Of course it makes sense to make sure noxious smells like pet odors, last night’s fish dinner or poker-game cigars are not the first thing to hit a potential buyer as they enter your home – but don’t forget that exotic incense, heavy floral accents and even cleanser smells can be offensive to many. Make sure your home is aired out well, and then provide simple, clean, subtle aromas with the restrained use of potpourri or air fresheners.

Taste – Could a plate of fresh-baked cookies entice a buyer? Maybe, maybe not – but it would certainly make your home more memorable.

Touch – Physical comfort is important. Remember that “Ahhhh!” feeling you get when you walk into a cool building, getting out of the heat of summer? Any Realtor showing your home – and any potential buyer – is going to be much more comfortable if your AC is set appropriately. Be careful not to over-cool (or over-heat!) but do try to make your home feel comfortable to visitors.

Today’s market can be a great time to sell Phoenix Arizona Homes, but keep the competition in mind. Do you need help with staging and showcasing your home before putting it on the market? We would love to help. Contact us at www.thompsongroupaz.com or 480.776.5214.