Arizona Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 16, 2019

iBuyers: Is Convenience Worth the Cost?

 

On average, sellers are likely to make 13% - 15% LESS with an iBuyer versus a traditional broker (source: Sklarz & Miller, 2019).  While technology has influenced and in a lot of ways improved the real estate industry, the iBuyer phenomenon (such as Open Door, Zillow Offers, OfferPad, etc.) might need a closer look.  Is the convenience worth the cost?  When selling one of your major assets – your personal home - it is crucial to have professional representation to protect you.  In fact, iBuyers represent themselves as the buyer in real estate transactions, not you the seller. These companies will purchase your home with a quick close date, however there is a good chance you will be leaving money on the table. 

Costs to Seller

Silver Alliance Realty:  4% - 6%

Open Door:  6% - 16%

Zillow:  7%+

OfferPad:  7% - 14%

(Open Door info from recent Lennar contract, Zillow info from recent press release, OfferPad info from official website)

There is usually not a negotiation process when selling your home with an iBuyer.  The iBuyer company compares your home to recently sold homes in your area to offer you an initial Sales Price then does their inspection to subtract costs of repairs (which they decide on) and then often adjusts your Sales Price downward.  You have a certain amount of time in which you can respond to this offer.  If you accept, a close date is set and the transaction moves forward.  Homeowners not prepared or understand how to work with an iBuyer may be paying a high price for  some convenience.

 

When selling your home with Silver Alliance Realty you are guaranteed outstanding representation and personalized service that protect your best interests.  It is our mission to make you the most money possible.  We offer superior contract negotiations, seller representation, a personalized marketing plan and more.  Over 60% of Silver Alliance Realty clients are either past clients hiring us again or a referral from a past client.  

CALL US ABOUT OUR DISCOUNTED RATES WHEN YOU ARE SELLING AND BUYING YOUR HOME AT THE SAME TIME. 

 

Sources:

Dr. Michael Sklarz & Dr. Norman Miller (iBuyers: A new choice for home sellers but at what cost?) 2019

Aug. 6, 2019

Deter Insects with Essential Oils

Pesticides are highly toxic and detrimental to humans and pets alike. The next time you see a pest in your home, reach for essential oils instead of the can of insect spray. These recipes for homemade insecticides contain absolutely no dangerous chemicals, are highly effective, and as an added bonus, smell wonderful.

Cockroaches:

Instead of spraying your kitchen with dangerous chemicals or laying down roach motels in the same cupboards you keep your food in, mix one-half cup of water, two tablespoons of salt, ten drops each of clove, cypress, and peppermint essential oils in a tinted spray bottle, and shake well. Spray in areas frequented by cockroaches. As a double-whammy, soak a few cotton balls with five drops of clove oil and place them in the back of your cupboards, behind the stove, and under the fridge.

Ants:

Ants navigate by smell, leaving scent trails that other ants follow, which is why you often see them entering your home in a long line. Peppermint oil is highly effective at blocking the scent trail and killing existing ants. Fill a spray bottle with water and add about fifteen drops of peppermint oil. Spray around the areas where ants seem to frequent, and spray the ants themselves to kill them. If you can find the location where the ants are entering your home, apply some peppermint oil to a cotton swab and draw a line around the entry point to prevent more ants from coming in.

Mosquitoes:

DEET, or N,N-diethyl-meta-toluamide, is the most common ingredient in insect repellant sprays, and it’s a nasty chemical that requires a number of safety precautions when using it. Fortunately, there is an alternative to the toxic bug sprays you find in the stores. This concoction of essential oils is highly effective at repelling mosquitoes and other flying insects, it’s completely nontoxic, and it smells delicious. In a tinted spray bottle, add four drops each of citronella, lemongrass, rosemary, eucalyptus, and mint essential oils to one-quarter cup of witch hazel. Spray it on your skin and clothes to repel mosquitoes, flies, and other flying pests.

Silverfish:

These creepy, silvery creatures love high humidity, sugar, and flour and often take up residence in dusty old books and newspapers. Eucalyptus citriodora essential oil is very effective at eliminating silverfish and preventing further infestation. Mix ten drops of the oil with a cup of water and spray the areas where you see the insect.

When purchasing essential oils, make sure to choose the therapeutic grade oils, which are generally pure and highly concentrated. Quality essential oils are always sold in a tinted glass bottle to prevent deterioration of the chemicals in the oils. Store your essential oil concoctions in a tinted bottle away from sunlight and heat sources.

 

Article by Any Presentations

 

Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

Aug. 5, 2019

Brighten Up Your Summer Evenings with Outdoor Lighting

Adding lighting to your yard, patio, or garden is a great way to increase both atmosphere and practical illumination. Here are three ideas for doing it with the best effect:

String Lights:

Quick and easy to install, string lights bring an extra sense of magic and romance to a warm evening. Drape them around garden structures to soften their hard lines, or use them to enhance and highlight natural features.

Try using a mixture of smaller lamps for decoration and larger ones for useful illumination. Also mix in a few twinkling lights for even more atmosphere.

Landscape Lighting:

For larger areas, try using floodlights and lamps, which illuminate relatively brightly and widely. This is particularly effective if placed a little ways away from your main seating area, as it’ll increase the overall brightness without spoiling the feeling of an evening outdoors.

This kind of lighting also has security advantages, especially if you add motion sensors and timers to activate it when you’re not around. However, be sure to use softer, warmer lighting rather than harsh industrial security lamps.

Hanging Lanterns:

Try hanging single lanterns from trees or walls for decoration and ambiance, or cluster a few together for brighter illumination of a particular spot. Lanterns and other hanging lights make a wonderful addition to a pergola or other covered space.

No matter which type of outdoor lighting you choose, always keep safety in mind. If in any doubt, hire a qualified electrician to handle the installation, and make sure they’re experienced in outdoor work. The slight extra costs involved in hiring a professional will pay off with years of atmospheric and safe outdoor illumination throughout every season.

 

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Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

July 25, 2019

Questions to Keep in Mind When Searching for Your Ideal Home

When purchasing a home, you can rely on the inspector to answer questions about the condition of the roof, foundation, and plumbing, but there are other important questions the inspector’s report can’t answer because the answers depend on a homebuyer’s preference. Here are some great questions to ask as you search for your future home:

Does the House Layout Work for Your Lifestyle?

Walk through a potential new home as if you were just starting your day. Does the layout of the house complement your family’s daily activities? Remember, it’s easy to paint walls a fresh color, but it’s not so easy to move them.

Are the Rooms the Right Size?

When the rooms are too small, you will have to downsize your furniture. If the rooms are very large, you may have difficulty placing your furniture in a way to make a room seem warm and cozy. Measure your current rooms and let your real estate agent know what size rooms you are looking for before viewing a home.

Does the Home Have Enough Natural Light?

Large, well-placed windows let in natural light. A house with small windows will seem dreary on cloudy days when not enough light can enter. Windows are expensive to replace, and it is wise to buy a house that has modern, well-placed windows.

Is There Space for Parking?

If you plan to stay in the home you are purchasing for a number of years, take a good look at the driveway and garage. Your children may only be 11 and 13 today, but how will that driveway and garage work when there are four drivers in the family?

Is the Back or Front Yard Usable?

Extra land might sound fantastic, but if the land travels down a hill, then it may not be usable. If you cannot add a patio, an extra room, or a nice garden, the extra land is of little value.

Is There Privacy?

A house can meet most of your needs, but if it is only a few feet away from the neighbors, your privacy will be affected. Most people want to be able to open their windows without listening to conversations in the neighboring house. Think carefully before buying a house that doesn’t have enough privacy.

All these tips have an effect on resale value as well, so asking yourself these questions will help you buy a home that has good future resale value.

Article by Any Presentations

 

Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

July 22, 2019

2019 Outdoor Living and Design Trends

Blurring of Indoor and Outdoor Areas

Beyond windows and patio doors, home designs are truly blending indoor and outdoor areas thanks to features such as folding walls and collapsible screens. For example, imagine a family room that opens up completely to an outdoor patio for easy entertaining, made possible by retractable walls plus smart lighting and strategic heating and cooling sources for seasonal comfort.

Sustainability Is King

As more homeowners are prioritizing green living, outdoor designs that become a part of the local ecosystem are in high demand. This could include planting to support pollinators or integrating edible landscape into the design. Water features are growing in popularity because they add a tranquil element to outdoor spaces while masking unwanted sounds, such as traffic or other noise.

Outdoor Kitchens and Fire Features

In an effort to make outdoor spaces an authentic extension of the home, livability is a priority. That means outdoor kitchens and fire features continue to be top trends. Kitchen additions such as pizza ovens are reflective of the foodie movement, while fire features using gas fuel rather than wood are reflective of the desire for convenience.

 

Article by Any Presentations

 

Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

Posted in DIY, Home Decor, Home Owners
July 12, 2019

July 2019 Real Estate Review

The seasonality in the Maricopa County real estate market couldn’t be more obvious, or consistent. Lots of sales in April, May and June; not as many in December, January and February.

The highs have risen slightly higher each year, but the lows have gotten lower as well. Overall volume per year has remained relatively level over the last 3 years: up slightly in 2017 and then flat in 2018 and 2019 YTD.

-- Chris Butterworth

The Median Price per Square Foot in Phoenix is up 6% YoY in April, to $164.35/sqft from $153.98/sqft in April ‘18. The positive trend can be seen:

• Overall - the chart is rising consistently from left to right.

• April vs April - the 3 darker blue bars show an increase of about $10/sqft per year.

• Trending - We can see each April caps a relatively flat 3-month cycle, before prices surge forward again in the summer months. If the trend holds, we should see a jump in the May number.

-- Chris Butterworth

Real estate graph and comments courtsey of 8 Dollar Farming

July 12, 2019

Housing Inventory Increases as House Prices Moderate

After years of an inventory shortage in the housing market, conditions are finally improving. This all adds up to buyers having more choices when looking for homes. Yet sellers will also have to adapt to the new market conditions, as an increase in inventory often leads to a slowdown in price growth. According to Lawrence Yun, chief economist for the National Association of Realtors, “When placing their home on the market, home sellers need to be very realistic and aware of the current conditions.”

Sales Forecast

Existing-home sales saw a slight decline of 0.4% in April. Of the four major housing regions in the country, two—the Northeast and South— reported a small decline in sales, while in the Midwest sales remained unchanged from the month before. The West, meanwhile, reported gains. Yun expects to see growth in sales in the coming months. “First, we are seeing historically low mortgage rates combined with a pent-up demand to buy, so buyers will look to take advantage of these conditions.” In addition, gains on the job creation front will lead to an increase in wages, which will help offset increases in home prices and improve affordability.

From “For Sale” to “Sold”

One sign of the pent-up demand among buyers is the short amount of time homes are remaining on the market. In April, the average house took only 24 days to sell; this is significantly less time than the 36 days and 26 days properties remained on market in March 2019 and April 2018, respectively. Fifty-three percent of all homes sold in April were sold in less than a month.

Regional Sales Breakdown

Northeast - Existing-home sales annual rate of 640,000; a decrease of 4.5% from both March 2019 and April 2018.

Midwest - Existing-home sales annual rate of 1.17 million; unchanged from March 2019, but a decrease of 7.9% from April 2018.

South - Existing-home sales annual rate of 2.27 million; a decrease of 0.4% from March 2019 and 1.7% from April 2018.

West - Existing-home sales annual rate of 1.11 million; an increase of 1.8% from March 2019, but a decrease of 5.9% from April 2018.

Click Here to learn more about Phoenix, AZ trends

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Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

July 8, 2019

Save on Summer Cooling Costs

Turn Up the Thermostat. The U.S. Department of Energy recommends setting your thermostat to 78 degrees when you are home and even higher when you’re away. If this sounds too balmy for you, try setting it one or two degrees higher than normal and work up from there. You should save about 1% on your energy bill per degree.

Invest in a Few Fans. A great way to supplement your AC is with a fan. They don’t actually cool the air, rather, fans work by moving the air, which makes it feel cooler to us when it touches our skin. For this reason, you should run a fan only when you’re actually in the room. Using a fan will use electricity, but it will be far less than what your AC would use to cool your whole house if you turned the thermostat down by even one degree. Make sure ceiling fans are running the right way: In summer, they should turn counterclockwise when you’re looking up at them.

Close the Curtains. Another way to keep the already airconditioned air inside your home cool for longer is to keep the sun’s rays out as much as you can. Invest in some lined or blackout curtains and close them before you head off to work in the morning. You’ll be amazed at the difference a little extra shade will make.

Service Your AC Unit. Have your AC tuned up as early in the season as possible to ensure it’s running optimally all summer long. The HVAC technician can also tell you if there are any areas of concern that might require a repair or replacement soon so you can start budgeting accordingly.

Article by Any Presentations

 

Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

July 3, 2019

Prepare Your House Before You Go on Vacation

If you’re going on vacation for a week or more, you’re probably doing tons of planning. However, it’s also necessary to spend some time preparing your house for your absence. Otherwise, you might encounter some nasty surprises upon returning home. Those surprises could be really serious, such as burglary or fire, or slightly less serious but still quite unpleasant, such as rotting food or unnecessary power expenses. Use these preparation tips before leaving for vacation to avoid nasty surprises upon your return.

1. Hold the Mail

Place a hold on mail and newspaper deliveries, or ask a neighbor to collect them daily. A mailbox overstuffed with letters or a porch littered with newspapers lets burglars know that the house is unoccupied.

2. Pretend Someone Is Home

Invest in one or two light switch timers. This device turns a light on and off according to a schedule that you punch in. You can install one in the living room and another in the kitchen or a bedroom. The result is that certain lights are regularly going on and off, so the house appears to be occupied.

3. Be Careful with Social Media

If you have thousands of friends and acquaintances on Facebook, it’s probably not a good idea to post that you’ll be away from your house for two weeks. It’s also not a good idea to record a special voicemail greeting announcing that you’ll be out of town.

4. Lawn Upkeep

Ensure that the lawn is mowed, hedges are trimmed, and flower beds are watered immediately before you go away. Use a lawn service to keep things looking fresh and well-groomed while you’re out of town.

5. Clear Out Fresh Food

Unless you wish to be greeted by a strong odor when you return, take the time to dispose of perishable food and all garbage before you depart.

6. Unplug Electronics

The more devices that are unplugged, the less possibility of fire. Also, most devices use some power even when they’re not turned on, so unplugging them saves you money. However, this means that you’ll need to reset electric clocks and reprogram entertainment electronics when you return.

7. Notify Your Credit Card

Communicating with the credit card company should ensure that they do not disallow charges and purchases made at your destination(s). And if you have a home security service, they should also be informed so that they can properly interpret data from your address.

8. Save the Spare Key

If you hide a spare key under a flowerpot on the front porch or above the door frame, retrieve it. If a burglar is clever enough to figure out that your house is unoccupied, it won’t take him long to find a key stashed in one of the usual hiding spots.

9. In Case of Emergency

Make sure a trusted neighbor or friend has your contact information. If, despite all your precautions, something unfortunate happens at your property while you’re away, you’ll want to learn about it sooner rather than later.

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Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

Posted in Home Owners
June 18, 2019

Anticipating a Move? Read These Seven Tips

Moving is a chore that everyone loves to hate. It is time-consuming, fraught with difficult decisions, and physically demanding. But it’s also unavoidable.

Here are some great tips to make your move more efficient and less stressful:

1. Weed Out the Clutter.

Before you start packing, honestly survey your belongings. If there is anything that you don’t want or don’t need, don’t pack it! Instead, sell it, donate it, give it away, or throw it out.

2. Use the Right-Size Box.

A large box full of books is very difficult to lift, while a small box containing only a throw pillow is a waste of cardboard. Before you start packing a room, figure out which box size(s) you need for the items in the room and prepare the boxes for use.

3. Label the Boxes.

The labels should contain two pieces of information: what’s in the box and which room it should be deposited in. If you fail to include the second note, you’ll end up directing traffic all afternoon as the movers ask you where to put each box in your new place. For the same reason, it’s also a good idea to label most other items to indicate their destination (unless the room is obvious).

4. Use Sandwich Bags for Small Hardware.

After taking apart furniture, curtains, and anything else that can be disassembled, store the screws, nuts, washers, brackets, power cords, and similar items in a sandwich bag. Then label the sandwich bag with a permanent marker and tape it to the back of the item.

5. Take Photos before Disassembling Electronics.

If you foresee difficulty figuring out where the wires go when you must reassemble your computer or your entertainment center in your new accommodations, take photos before pulling out all those wires! That will save you many hours rereading the instruction manuals.

6. Pack Important Items Separately.

Jewelry and expensive electronics should be packed separately. Important documents, such as your will, passport, and mortgage agreement, should be packed in a secure container. These items should travel with you rather than be packed on a truck.

7. Prepare an Overnight Bag with Essentials.

When nightfall comes at the end of your long and busy moving day, you’ll be too exhausted to even think about unpacking boxes. So you should bring with you (not in the moving truck) a bag containing everything you’ll need for that night and the following morning—medications, basic toiletries, a change of clothes, a laptop computer (if you have one), and anything else you cannot do without.

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Silver Alliance Realty is here to help you with all your real estate needs.

We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty today.

 

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com