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Glendale, AZ Real Estate Blog

What Affects Property Values?

Posted On: August 14th, 2017 4:53PM

Some of the features that increase property values are obvious-like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

  1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.
  2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.
  3. Mature trees: A big beautiful tree in the front yard is enviable, and it's not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
  4. Parking: This isn't too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That's why having guaranteed parking in urban areas will raise property values.
  5. The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

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Bathroom Trends for 2017

Posted On: August 6th, 2017 7:42PM

Staying on top of the latest trends in home decor isn’t for everyone, but even for traditionalists, it can be fun to incorporate some new ideas. Here are five bathroom decor trends that are appearing in 2017.

  1. Geometric Patterns: Many homeowners are selecting bold patterns in geometric shapes, like chevrons, triangles, or hexagons. These patterns can add intrigue and continuity to your tile or shower curtain.
  2. Plants: Even the best-designed bathrooms can benefit from some small plants. If you have a windowless bathroom, there are some low-light options that can survive with little maintenance.
  3. Dark Colors: This can be tricky to achieve, but it comes with a big pay off. While traditional bathrooms are often painted with brighter whites and greys, opting for darker colors can make a bathroom seem more luxurious and relaxing. Imagine sinking into a deep bath with dim lighting—that might convey the appeal of a darker palette.
  4. Brass Hardware: Trends often come back around, and this year, brass fixtures of the ‘70s are popular once again.
  5. Minimalism: The massive master bathroom is still great, but there’s also some appeal in smaller bathroom designs. Minimalism allows for smaller spaces to feel more intimate, but still airy and open.

 

Bathroom Trend

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Three ways to ease your fears about making a move

Posted On: April 3rd, 2017 7:49PM

With low inventory in many markets throughout the country, many homeowners are afraid to sell their homes because they're concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell-whether to upgrade or find a new neighborhood-there are a few ways to combat the low inventory.

 

Look to buy first In most markets it is a real mistake to put your home up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying. Even if you don't see anything on Zillow, it doesn't mean you can't or won't find the right home.

 

Think outside the box Be proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid as well. Have your real estate agent send a letter to the neighborhoods in the geographic areas where you want to live. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighborhood. You could find a home to buy that may not even be currently listed or for sale.

 

Protect yourself legally Each state varies in how the purchase process is conducted. Talk to your real estate professional about adding a clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.

 

Two girls moving

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10 Housing Markets to Envy in 2017

Posted On: February 3rd, 2017 2:48AM

The national housing market is largely predicted to moderate in 2017, but a handful of metros are expected to beat expectations. In fact, 10 markets are looking like hot-beds for growth in the new year. 

Realtor.com®’s research team has flagged markets that will likely see average price gains of 5.8 percent and sales growth of 6.3 percent in 2017. Those gains would exceed next year’s anticipated national growth of 3.9 percent in home prices and 1.9 percent in home sales. 

As such, real estate professionals in these 10 markets should expect a booming business in 2017. Realtor.com® notes these are the hottest housing markets to watch in the new year, based on price and sales gains: 

1. Phoenix-Mesa-Scottsdale, Ariz.

2. Los Angeles-Long Beach-Anaheim, Calif.

3. Boston-Cambridge-Newton, Mass.-N.H.

4. Sacramento--Roseville--Arden-Arcade, Calif.

5. Riverside-San Bernardino-Ontario, Calif.

6. Jacksonville, Fla.

7. Orlando-Kissimmee-Sanford, Fla.

8. Raleigh, N.C.

9. Tucson, Ariz.

10. Portland-Vancouver-Hillsboro, Ore.-Wash. 

Why are expectations so high for these 10 markets? Realtor.com®’s research team notes that strong local economies and population growth are helping to fuel sales. Also, the top 10 housing markets have other commonalities, such as relatively affordable rental prices, low unemployment, and large populations of millennials and baby boomers.

 

Source: “Realtor.com® Forecasts Post-Election Economy to Result in Higher Mortgage Rates While Housing Delivers Slower Gains in 2017,” realtor.com® (Nov. 30, 2016)

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6 Reasons To Sell Your Home In 2017

Posted On: January 2nd, 2017 2:13AM

Planning to sell in the new year? Get a head start by listing early.

Being early has its benefits: “The early bird catches the worm” or “Early to bed and early to rise makes a man healthy, wealthy, and wise.” You get the idea. So if you’re thinking about listing your home for sale in Glendale, AZ, in 2017 — or if you already know you will — why not do so early, as in January or February? By getting in on the real estate market at the beginning of the year, you could benefit in some unexpected ways. Here are six of them. 

1. There’s low inventory

When inventory’s low, it’s usually a great time to put your house on the market. Your new listing could cause buyers to pounce when there’s little competition, especially if your home is in a desirable neighborhood. Research conducted by Trulia revealed that 2016 was the year of low inventory.  

2. There’s more urgency

There are plenty of reasons people need to get in a home fast. Many companies transfer employees at the start of a year, for one. Whatever the reason, if you encounter a homebuyer in the dead of winter, they probably need to buy sooner rather than later. And unless you’re in a hot climate, January and February are not the months most people want to be out hitting the streets to browse. Winter buyers often have a sense of urgency — when they find what they’re looking for, they’ll make an offer. 

3. Spring starts early in warm climates

If your home is in a warm climate, you could really benefit by listing your home for sale in early spring. “Traditionally, our real estate website has at least double the number of visitors starting the day after Christmas,” says Glenn S. Phillips, CEO of Lake Homes Realty, a multistate real estate brokerage. “While homebuyers may not be personally visiting houses as quickly, they will be looking online. We advise that listing a home earlier helps a home stand out in the market.” Also, when the weather outside is frightful, “Retirees and people in the market for a second home seek a more temperate climate,” says Denver, CO, agent Matt Vos.
 

Some markets, however, do not experience prime time in January and February. “You might want to wait [to sell] if you have great outdoor space,” says Lucido. “It won’t show as well with snow on the ground and leafless trees.” But if outdoor space isn’t an issue, like in an Glendale, AZ, go ahead and list during the first two months of the year. “New Yorkers will attend an open house even in snowy and frigid weather if it means finding the right new home,” says David Walker, CEO of TripleMint, a New York, NY, real estate brokerage. 

4. There’s early movement for lower price points

“The lower-price-point markets move a little earlier,” says Vos. If you’re a first-time homebuyer and are currently saving in preparation to buy, you might have earmarked that tax refund coming to you for the purpose. “When these potential buyers get a refund on their taxes, they’ll sometimes use that as a down payment to roll into a purchase,” offers Vos. The sooner you turn in your tax return, the sooner you’ll get your refund, usually in fewer than 21 days. 

5. There’s a new administration

Speculation and uncertainty abound whenever a new administration takes the helm. If you think the Trump administration will make it tougher for people to buy a home, you might want to sell early in the year. “Many people worry that some of the reforms laid out in the Republican platform could potentially force buyers to fork over larger down payments,” says Peter Vekselman, a Southeast real estate investor. “This could be a problem for many home sellers as the pool of eligible homebuyers begins to shrink.” Of course, speculation is just that. But if you believe this to be true, “It makes sense to sell a home now,” says Vekselman. 

6. There’s a potential interest rate hike coming

Some people are concerned about rising interest rates this year. If homebuyers think rates will rise, they might buy sooner rather than later. “The interest rates have been very low for a very long time,” says Vos. “As they begin to tick up, you will start to see consumers’ buying power drop because of the cost to cover mortgage payments.”

 

Josh Moffitt, president of Silverton Mortgage Specialists in Atlanta, GA, agrees: “It is all an unknown, but there is some thought that rates could continue to rise in 2017 like they have been doing slightly at the end of 2016.”

 

Article courtesty of Laura Agadoni from Trulia blog post.  Click here for blog post.

What tips for selling your home in early 2017 do you have? Share your suggestions in the comments!

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