How do We Track Our Calls?

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today we want to talk to you about call tracking. If you want to increase your business, you have to know how many calls you are making in a day, how many calls it takes for you to get an appointment, how many appointments it takes for you to get a signed agreement, and how many signed agreements it takes for you to get a closing. 

The easiest way to track your calling is with the use of a dialer. There are a ton of great ones out there, like five9 or callfire. What they will allow you to do is call more people in less time, while also giving you a visible figure of how many people you call each hour. 

The average contact rate is about 10%, but the more calls you make, the more contacts you will have. It really changed the game for us, knowing how many people we were contacting daily and hourly. 

If you have any questions, or would like to tell us about some things that have been working for you, please reach out to us. We are always here to discuss things with you. 

How to Recognize a Good Offer on Your Home

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Hey there, welcome back to our blog. As a seller, how exactly do you recognize a great offer on your home? Well, there are a few tips and tricks we have picked up we would like to share with you. 

The first thing to do when an offer comes in is make sure that all the signatures and initials are there to make it a valid contract that could close if you were to sign it. 

The second thing to look at is if the buyer is qualified and with a reputable lender. Make sure that pre-approval they have is a real pre-approval and not conditional. Also contact their lender, and do some research to make sure that they are reputable. 

The next thing to do is look at how much money the buyer is prepared to put down on your home. The more they put down, the better their buying power. It also helps you as the seller feel more confident with their purchase. 

Earnest money is another thing to look at. Typically, it's 1% of the purchase price, but more earnest money means more strength from the buyer.

As the market starts to soften you will see buyers out there looking to sell their current home before they purchase a new one. Make sure the offer you get isn't contingent on the buyer selling their home first.

Finally, take a look at the buyer's financial history. This will help you to determine if they are going to afford payments and make them on time. 

There you have it, the things to look for in an offer. Thanks for joining us today, we hope to see you soon. If you have any questions at all, feel free to let us know. Give us a call or send us an email and we will get right back to you. 

How to Gain an Edge as a Buyer

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

If you are a buyer out there in the Phoenix market, how do you make a competitive offer? We hope to answer that question with today's topic: How to gain a competitive edge as a buyer.

The first thing you should do is try to figure out the seller's motivation. Do they want to sell because they need a quick close? Are they moving out of state? You are likely to get the best deal if you can match the seller's motivation.

The next thing to look at is how long a property has been on the market. If it's only been there a few days, you will have to be a little more competitive with your offer. If the property has been on the market for a longer period, the seller may be more inclined to take a discount on the offer.

Typically, once you come to contract, how quick you close will dictate how much of a discount you get on the property. If you have cash or a lender that can close quickly, you may be able to get a little better price for taking the property off the seller's hands.

When you make the offer, make sure you don't have any contingencies and make sure it's the cleanest offer you can make. We can't tell you how many times we see offers come in where the buyer is asking the seller to pay for everything from closing costs and HOA fees, to appraisal reimbursements. 

If you need help writing an offer or have any questions for us, lets us know by giving us a call or shooting us an email. We'd be happy to help out. 

Simplifying the Foreclosure Process

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

The foreclosure process can be incredibly confusing. Today, we break it down and make it easy to understand. It helps to look at it as a 5-step process:

1. Missed payments: After you have missed your payments for 3 to 6 months, the bank is going to send out a public notice of trusty sale.
2. Waiting period: Once the public notice has been sent, you have 90 days to take action.
3. Public auction: If 90 days pass after the initial public notice, your home will be auctioned off at the courthouse steps. If you don't make the payments you owe at this point, a third party can buy your home.
4. REO property: If nobody bids, or if the amount isn't above what's owed, your home becomes what is referred to as a "real estate owned" property. At this stage, the bank will designate an agent to sell the property. This stage could take anywhere from 6 to 15 months.
5. Sold: After all this has happened, the foreclosure is finally over. The process varies in length - depending on the quickness of the filings and how quickly the various parties move to bring the process to an end.

As you can see, the foreclosure process is much easier to understand when broken down into the different stages involved. If you have any further questions about this topic, we would love to hear from you. Give us a call or shoot us an email. We look forward to chatting with you soon!

What Can an Open House Do for Your Home Sale?

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Many people aren't sure whether having an open house will help sell their Phoenix home. Today we'll talk about the pros and cons so you can decide if it's the right strategy for you.

Pros

• An open house will get more eyes on your home. Many people want to walk through a property and experience it first hand; since many homeowners don't offer an open house, you have an advantage by doing so.
• Your neighbors will likely check it out. This is huge because they may know someone who is looking to move to the area, and people love to pick their neighbors.
• You have control over how your home is presented. This is a nice luxury to have - you get to set the scene so your home shows at its best.
• Some people will check out multiple open houses before buying. If you don't even have the option, many people who might otherwise be interested in your home will never check it out. 
• You get to choose when you show it. You can schedule your open house for a time that works for you. 

Cons

• Nosy neighbors may be an annoyance during the process. This is the flip side of having neighbors who are looking at your home for a friend.
• You attract dreamers. You may get some folks who can't realistically afford to purchase your home, but want to walk through anyway.
• It makes your home vulnerable. You need to be cautious about what you leave lying around the house. It may be best to keep all valuables locked away in the event a burglar uses the open house as an easy opportunity.
• Professional lookers may be an annoyance. People that aren't even considering purchasing a home may come by just because they like to look. 

Overall, we think having an open house is a great idea. The pros outweigh the cons, most of which are pretty unlikely if the open house is done right. It all comes down to using effective marketing and knowing what you're doing. An agent can help with that and more.

If you still have questions about whether an open house is right for you, don't hesitate to give us a call or shoot us an email. We would love to help make your life a little easier. 

The Many Facets of Escrow

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

 Today we are going to talk about a confusing real estate term that describes a number of different things: escrow. We hope you will be better informed and knowledgeable about the subject with our guidance.

When your home goes under contract, an agent will "open escrow". Basically, they are going to take the check from the buyer and deposit it to an intermediate, third-party title company, who will handle all the closing.

The part where it gets confusing is when you work with a lender. A lender will start an "escrow account" where the property taxes and insurance are held and paid for by the lender. This is totally different than the upfront, title portion. At the end of it, you will close escrow, which means that the ownership will now shift from seller to buyer.

If you have any questions about escrow or anything else real estate related, give us a call or send us an email. We would be glad to answer aqny question you may have.

How to Choose Your Best Option for a Mortgage

  There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

  Today's blog is all about mortgages. They are something everybody has to deal with at some point  when buying a new home. Most mortgages fall into two categories: fixed-rate and interest-only.

Interest only mortgages are mortgages where you only pay interest. Whatever balance you start with, you will still owe the same amount at the end. The advantage is your payments are lower because you are just paying interest.

When it comes to fixed-rate mortgages, there are a few options to choose from. One of the most popular in our marketplace is FHA. FHA allows you to buy a home with only putting 3.5% down on any loan amount up to $271,000. The advantage of this one is a small down payment, but you will have to pay PMI. PMI is Private Mortgage Insurance and this is an amount you will have to pay that doesn't go towards your principle balance. It costs a little extra, but that's the price you pay for getting such a low down payment.

Another option is a VA loan, a loan for veterans that can cover up to $417,000. You will have a few additional closing costs, but if you are a veteran, this is a great option.

Balloon mortgages are something you need to be careful with. Anything with the word balloon in it signifies that there will be a set amount you have to pay at some point in the future, so you will need to have a game plan for that.

Thanks for taking the time to check out our blog. If you have any questions about mortgages or anything else real estate related, feel free to give us a call or send us an email. We'd be glad to help.

How Lenders Determine the Type of Home You Can Afford

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

One question we get all the time is how mortgage lenders determine how much of a home you can afford. When it comes down to it, there are really 4 criteria that lenders look at to determine this - they are what we like to call "The Big 4":

1. Credit Score: 
• Credit scores have a broad range of about 500-600 points. The higher the number the better. Anything over a 700 is going to get you the lowest interest rate and the lowest down payment. Even if your credit score is not perfect, there are still options for you to explore in terms of getting a good loan.
2. Debt-to-income ratio:
• Your debt-to-income ratio is a figure determined by how much money you owe vs. how much money you make. For example, if your debts are $3,000 a month and your income is $6,000, your debt-to-income ratio is 50%.
3. Down Payment:
• Depending on the criteria, your down payment may affect your interest rate, as well as your monthly payments.
4. Income:
• The single biggest factor mortgage lenders look at is income. Simply put, the more income you have, the more home you will be able to afford.

Thanks for checking in with us, we will talk to you next month! Meanwhile, if you have any questions about mortgage lending or what's going on in the Phoenix real estate market, please give us a call. We would be more than happy to help you!

Keep Your Home Safe While Away on Vacation this Summer

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

July is here, and many of us in Phoenix are taking time away from home to get out of the heat. We thought we would share some tips with you so you can feel comfortable leaving your home unoccupied for an extended period of time. Here are a few things you can do to ensure your home is protected:

1. Let your neighbor know you're leaving town. Make those who live around you aware you'll be gone on vacation. They won't police your house, but they'll certainly give it more attention than they would otherwise.
2. Don't tip people off online. People don't usually think of social media in this way, but it can easily tip-off potential burglars. Be sure to be careful what you post online, especially if it concerns your trip.
3. Leave the lights off. If the lights are on for an extended period of time, its a tip-off that the house is empty. Invest in a timer, or simply leave them off.
4. Stop your mail. Nothing says you're gone like an overflowing mailbox. You can always pick your mail up at the post office when you return.
5. Unplug your electronics. This is a smart and simple way you can avoid electrical fires, while also saving a little bit of money on your electrical bill.
6. Remove your spare key. If you have a hideaway key, either put it in a safe place inside your home, or have a friend or neighbor hold onto it. There's no better way to make the burglar's job easy than by giving him the key.

We hope that these tips will make you feel better while you're away. As always, feel free to give us a call if you are interested in buying or selling real estate in the Phoenix area. Have a safe and happy summer!

Phoenix Real Estate Market Update for Spring 2014

There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Phoenix Real Estate Market Update for Spring 2014

Welcome to my real estate video blog. I will be updating you bi-weekly with informative topics meant to increase your knowledge of the real estate market here in Phoenix and abroad. Today I will be focusing on the state of our current real estate market and what it will mean for you.

The Phoenix real estate market has been through quite a few changes over the last two years and we have transitioned from a seller's market to a much more balanced market. We still have a seller's market at some price points, so it depends what your home value is.

However, properties that are priced correctly are getting multiple offers and selling in just a few weeks. Homes that aren't priced well are bound to sit on the market and go stale. Pricing is very important in this market.

Inventory is neither high nor low right now because it really depends on what price point you're looking at. For properties that are priced at $150K or below, it is still a little bit of a seller's market.

If you are a seller looking to move up into a better home, then you should know that our market has appreciated by 40% in the last 24 months. Now would be a fantastic time to get your property on the market if you want to reap the benefits of this appreciation.

If you are a buyer you need to keep in mind that interest rates are still historically low. Your buying power is very high, and you can usually own a home for less than you could rent it for, so it is a great time to be a buyer. 

Overall our market is well balanced and has recovered nicely from where we were just a few years ago.

If you are interested in speaking with me about real estate in Phoenix or if you have any questions about this video, please do not hesitate to contact me. I am always willing to sit down and discuss your individual needs with you.

You can reach me via phone or email. Thanks for tuning in!