• June 16^th Father’s Day – it didn’t officially become an observed holiday until 1972. – So, to all the Dad’s out there,have a wonderful Father’s Day.  Enjoy the weather. 

At this time of the year, there are two things you should do as preventative maintenance:

• Have the A/C checked in the car.
• Have the A/C checked in your home.  You don't want it to cause issues in the middle of the summer.

Don't forget your vehicles - from tires to coolant:

• Check your tire pressure.
• Check the tire pressure of your spare tire!  Unfortunately, the spare tire is seldom checked. You don't want to discover it's flat when you need it. While your at it - check all of your tires for pressure regularly.
• Check your wiper blades.  Those of us in Arizona will likely see rain in July and August, so you need effective windshield wipers to be safe in the rain.
• Check your coolant level. Give your vehicle every opportunity for it to perform up to your comfort and safety standards.

• Do you use sponges?  Toss them into the dishwasher and/or the wash machine regularly.  They're a magnet for yukky stuff.  Dish brushes always go in the dishwasher when it runs.
• Buying fruits or vegetables?  When you refrigerate them in a Ziplock bag or plastic container, also put a paper towel in the container.  It absorbs the extra moisture so everything from lettuce to berries stay fresher longer.

WHAT'S FOR DINNER?  HOW ABOUT HAVING A CHEF?

HOW DOES A PROFESSIONAL APPRAISER LOOK AT YOUR PROPERTY?

Last week Jay Joseph, one of the most respected appraisers in the Phoenix area, was the speaker at our HomeSmart office meeting.  We’ve heard him speak many times over the years – at many different venues.

When working with a lender in a purchase situation, we know how important it is for the appraised value of the property  to come in at or above the sales price.  If it doesn’t, the buyer and seller must negotiate a solution. Generally, the buyer will come in with more cash and the seller will reduce the price.  They compromise. Once in a while you'll hear of a transaction falling apart because no compromise can be made.  Fortunately, it's never happened with any of our transactions.

Jay said one of the issues that can cause a low appraisal is when the assigned appraiser isn’t "geographically competent."  What he means is that the assigned Appraiser may not be familiar with the area where the property is thus while basic statistics are viable, familiarity with the neighborhood can make or break an appraisal.  With Jay Joseph’s company, he makes every effort to assign appraisals to an Appraiser who knows the area well.  Often when an appraiser is assigned by a lender, it’s the next person on a rotation list…who may know nothing about the specific area.

Most Realtors and Appraisers use a neighborhood’s "price per square foot" as a tool BUT that is just the beginning. There are many variables to know – the condition of the home, the upgrades, pool, location...for openers. 

Most appraisers will add value for a spectacular view (not  just a peek at a mountain peak) or on a golf course (unless the property is off a hole that gets hit by golf balls daily).  A pool adds value depending on the condition and uniqueness (waterfalls, lighting, decking). Owned solar will add value but leased generally does not.  

Here's where we as Realtors must do our due diligence by providing the Appraiser the comps we used in pricing the property. - giving details based on our familiarity of the neighborhood and property.  Jay prefers comps within the past 3-months only; but in areas with little turnover, they will utilize closings for the past 6-months. We always provide two similar listings in the area that are comparable and 4-6 CLOSED sales; truly the basis of value.  The comps should be similar in square footage to the subject home and preferably from the same community/neighborhood. Then the appraiser should be given those Listings/Closed sales with Realtor notes indicating differences in the properties as compared to the subject property (again, location, condition, upgrades etc).

It’s an advantage to know if the appraiser is familiar with that neighborhood – because if not "they don’t know what they don’t know."  Pricing can vary dramatically from neighborhood to neighborhood – even if they are adjacent…or on a different side of a main street.

If you have a unique property and want to hire an Appraiser yourself, ask the company or individual appraiser a few questions in a polite manner…start out with "Please don’t take this the wrong way but….:

1. Have your worked in the area before – are you familiar with this neighborhood?
2. What kind of license do you have?  The right answer is "Certified Residential" or Certified General"
3. And be sure to hire one familiar with the area and/or any specific qualities such as horse properties, rural or high-end areas with all custom homes. 

In some areas there is a mixture of very old homes that have never been updated next to magnificent properties. But the value in the land can be very worthwhile.  You don't want to leave any money on the table in areas of custom lots and homes.

In those cases, call an expert like Jay Josephs –JOSEPHS APPRAISAL GROUP

602-955-4050 or [email protected]     www.JAGinc.net
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The real estate market is HOT in Arizona right now and that brings plenty of opportunities for buyers, sellers, and investors alike.  In this section, we’ll discuss mechanics liens; what they are, what they mean, and why you should approach any extensively remodeled home with a healthy dose of lien knowledge.  

So, what *is* a mechanics lien?  A mechanics lien is filed when a vendor or contractor who furnishes materials, labor, or professional services to a property, but wasn't paid.  It could be that a general contractor OR a homeowner fails to pay a vendor.  Either way, the material-man [company or vendor who provided supplies or services] has the right to file a lien against the property that must be resolved before the home can be sold or refinanced.  The time frame that a vendor must file the lien is 120 days from the completion of the improvement.  Typically, the general contractor will obtain lien waivers from any and all vendors providing services and materials to the property. But what if they don't?

When considering the purchase of a newly remodeled or constructed home still within the lien period, be sure to ask the seller/investor if they have a complete indemnity packet, they can provide to the title company.  This packet typically consists of all receipts, lien waivers signed off on by the vendors, an appraisal, and even financials to prove the seller can cover any costs that may arise due to the work completed.  Once the title company and underwriter have reviewed the entire packet, clearance will be issued for closing, or further requirements of the seller will be requested.  The title company and your Realtor are there to ensure your purchase is protected from any issues negatively impacting your title so you can enjoy your beautiful new home for many years to come.(provided by Angela Kahan, Equity Title)

Note:  When a seller does repairs on a home for our buyers, we request copies of all final invoices/receipts so the buyer has them for their records. Not only does that give them proof of payment but it also gives the buyer the name of the person (s) doing the work in case they ever want them to come back to the property
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1. Combine chicken, grapes and pecans in a medium bowl.
2. Combine mayonnaise, sour cream and lime juice,
3. Mix into the chicken mixture.

• First and foremost, in Arizona we must provide a Prequalification Form showing what the Buyer is qualified to buy.  NOTE: Don't confuse "pre-qualified" with "pre-approved."  Prequalified means the buyer has provided their information - and it looks good.  Lenders rarely pre-approve because it takes time to verify the buyer's information...and be sure it's the same at the close.  A transaction can fall apart at the last minute if the buyer has gone out to buy all new furniture or a car which can skew their credit report.
• Of course, price is paramount for both buyer and seller.
• We,as your Realtors, can advise where to offer depending on many variables.
• Sellers don't like to be asked to pay buyer's closing costs.  Sometimes, if they can't get an offer otherwise, we can explore that possibility.
• Flexibility and a willingness to close whenever is most convenient to the sellers are also nice perks that could put the cherry on top of the offer.