Greater Phoenix Area Real Estate Podcast

3 Things You Should Know About the Home Flipping Craze

Info@TAGRealEstateAZ.com (Andrew Altman) — Thu, 17 Aug 2017 08:41:00 -0700

Home flipping is all the rage right now. Here’s what you should know if you are thinking about cashing in on this trend.

There are a variety of opportunities in the 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.

Home flipping is usually defined as buying a home and then reselling it soon after for a higher price. 10 years ago, it was a mainstay of the real estate boom that led to the financial crash. After some years of lower activity, it's back in full force, thanks in part to popular TV shows such as "Flip or Flop" and "Flipping the Block." If you're curious about home flipping, here are three facts you should know right now: 1. Home flipping is more profitable than ever. A recent Waco home that appeared on HGTV's show "Fixer Upper" was originally bought for $28,000. It was thoroughly renovated and is now being listed for $950,000—over 30 times its original price. In 2016, the median flipped home sold for $189,900, which is $62,624 over the median purchase price of $127,276. That's a 49.2% return, the most profitable return since 2000—the first year for which such data is available. 2. Home flipping is caused by different factors than 10 years ago. Back then, many flipped homes were speculations. In other words, investors would buy a home and then just wait, hoping that the price would go up so they could sell. The current flipping trend appears to be a positive response to current market conditions, such as the overall shortage of homes for sale, a lack of new construction, and a steady rise in home prices.

Demand still outstrips supply, for now.

3. Home flipping affects all home buyers and sellers. If you're a buyer, you can clearly benefit from the home-flipping craze. Flipped homes are available at all price ranges, from entry-level to luxury homes. If you are a seller, then the boom in home flipping means you might face tougher competition when the time comes to sell your home.The good news is that demand still strongly outstrips supply for now. These conditions won’t last forever. If you have any questions or you're even considering investing in a home you can flip yourself, get in touch with me by giving me a call or sending me a quick email. I’d love to hear from you.

Why Are U-Hauls Cheaper to Rent in Phoenix?

Info@TAGRealEstateAZ.com (Andrew Altman) — Thu, 13 Jul 2017 10:11:00 -0700

Did you know more than 1 million people use U-Haul trucks for moving each year? Phoenix is one of their top destinations, which has brought rental rates down.

I came across an interesting article about U-Hauls recently that I wanted to share with you. I’m taking a little break from real estate today in order to bring you this news. Did you know that more than 1 million people use U-Haul trucks to move each year? That number is amazing to me. Where are they moving the most? As it turns out, Seattle, Portland, and Phoenix are the destinations. There is a surplus of trucks in Phoenix because of this, and it has brought their rates way down.

Phoenix has a surplus of U-Hauls.

If you’re planning a move from Phoenix, whether it’s in or out of state, you’ll be able to get a much better deal on a U-Haul truck here than anywhere else. In New York or San Francisco, it costs almost three times as much to rent one. If you have any questions for us or you’re thinking about making a move, give us a call or send us an email. We would love to help you.

Selling vs. Renting out: Which Is Best for You?

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 7 Jun 2017 11:24:00 -0700

Today I’m discussing the topic of renting out your home versus selling it. There are benefits to both depending on your unique situation.

Should you rent your home out or sell it? How can you ensure you make the right choice?

First and foremost, make sure you have a real estate agent you trust. When we have a consultation, we focus on what is best for you and your family and what your specific goals are. In this particular situation, if it’s better for you to rent your house out instead of selling, we won’t tell you to sell in order to make a commission.

Make sure you have a real estate agent you trust when deciding to rent out or sell your house.

The main reason you would want to rent right now is that the Phoenix rental market is at an all-time high. We would love to sit down and show you some comparables during a free consultation.

Also, if you’re buying another home, you can take advantage of these unusually low interest rates. Rates are expected to rise, so if you want to purchase a new home, now is the time.

If you have any questions about whether you should sell your house or rent it out, give me a call or send me an email. I’d be happy to help you.

How Can Professional Photos Benefit Your Home Sale?

Info@TAGRealEstateAZ.com (Andrew Altman) — Fri, 19 May 2017 11:03:00 -0700

When selling a home, getting professional photos taken is key for a few reasons.

It’s a pretty well-known fact that if you’re selling your home, you’ll need photos in order to market it. However, taking photos with your phone will lead to a sub-par representation of your home online. Using professional photos, on the other hand, will benefit you in many ways. Whether you have a $15,000 listing or a $1.5 million listing, professional photos are key to your marketing strategy. In fact, 92% of buyers start their home searches online, so their first impression of your house will come from the photos. You’ve probably seen smartphone photos of homes online. They make the property look dark, dirty, and fail to highlight the best features of a home. Professional photos are going to draw the buyer’s eye to your listing. If they are looking at 10 homes online and your home is the only one with professional photos, I guarantee they are going to come look at your home first.

92% of buyers start their home searches online.

Arizona plays host to a lot of snowbirds as well. Those people will look at your home 10 to 20 times before even making it here for the winter. Professional photos will make sure your listing stays at the top of their list, even as others pop onto the market. If you’re on a golf course, drone photos are fantastic for highlighting the area. If you have a specifically unique house, a 3-D interactive tour is a great way to go. I can help you with those things, but I am always going to start with professional photos in order to get your home sold faster and for more money. If you have any questions, please feel free to give me a call or send me an email. I look forward to hearing from you!

Do Open Houses Really Work?

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 3 May 2017 08:39:00 -0700

An open house can help you sell your home. However, its success depends on a few different variables.

We get asked all the time by home sellers whether open houses actually work in drawing buyers to a listing. The answer is that it depends on three specific criteria:

1. The time of year. Do you want to go to an open house in the middle of summer when it’s 120 degrees out? Probably not. Most homebuyers won’t want to either. Open house attendance during the summer months is usually very low.

2. What kind of community are you in? Certain communities are known for their open houses and have them quite frequently. This is especially true in many 55 and old communities.

Whether an open house works or not depends on three criteria.

3. The market. Is it a fast-selling or slow-selling market? If it’s a fast market and you’re getting multiple offers, you probably don’t have time for an open house. You don’t really need one in that case either.

If you have any questions for us or would like to sit down to talk about your listing and what you should do to help it sell more quickly, give us a call or send us an email. We look forward to hearing from you.

The Delicate Art of Buying and Selling at the Same Time

Info@TAGRealEstateAZ.com (Andrew Altman) — Tue, 18 Apr 2017 09:28:00 -0700

How can you juggle buying and selling at the same time? These are the best strategies we use.

We’ve been running into this situation a lot lately. A seller sells their home, but hasn’t secured a home to buy yet. What are your options here? First, you could do a rent-back from the buyer. If they don’t necessarily need to be in the home on the closing date, you can rent it back from them month to month until you find the home of your dreams. You could also rent another place. This is a difficult one for some people because they don’t want to have to move twice or put all their stuff in storage. If you do go this route, I recommend renting a furnished rental so you can get your things in storage and just take a suitcase with you to live out of in the furnished rental until you purchase a new home.

A rent-back is a great option.

How can we help in a situation like this? Well, we’ve run into this situation numerous times. People don’t usually have the finances to buy before they sell, so we’ve seen just about everything. Our experience pays off because we can sit down with you and your family and discuss your individual situation to figure out what’s going to work for you. If you have any questions for us at all or if you want to sit down for a consultation, we would love to serve you like we’ve served hundreds of families already. We look forward to hearing from you!

Why Ask Your Realtor to Find You a Lender?

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 3 Apr 2017 08:58:00 -0700

Choosing the right lender can be a tricky process, but Realtors are better equipped than anyone to help you find the right fit for you.

Should you reach out to your Realtor to help you find a lender? Absolutely. All lenders are a little bit different, and they each offer different products. Depending on your situation, we can help guide you in the right direction for a good fit. What specifically, though, are the advantages of going with a lender that your Realtor recommends? For one thing, a lender chosen by your Realtor has already been pre-screened and is almost guaranteed to be good at their job. You also know that they will close the loan on time. When you pick a lender from a Google search, on the other hand, you never know what you’re going to get.

What kind of lender you need depends on your individual situation.

To that point, is it better to go with a larger institution, a smaller bank, or a mortgage broker? It really depends on your individual situation. Larger institutions take a little bit longer to close the loan. Sometimes this can be a disadvantage in a multiple offer situation. Mortgage brokers are usually quicker to close the loan, but some don’t offer the products that smaller banks offer. Smaller banks can sometimes give you an advantage in the low down payment category. If you have any questions or need help finding a lender, please feel free to give me a call or shoot me an email. I look forward to working with you!

How to Make Your Offer Stand out in a Multiple Offer Situation

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 22 Mar 2017 12:41:00 -0700

If you’re a buyer in this market, you might find yourself in a multiple offer situation. Here are a few ways to ensure your offer gets accepted.

With inventory so low in the real estate market, it’s common to run into multiple offer situations. Today, I wanted to provide you with a few ways to ensure your offer beats out the rest.

First, make sure you hire a real estate agent that you trust. A good real estate agent will know tips and strategies to make your offer stand out and get accepted. They will also keep in close contact with the seller’s agent to find out everything they can to highlight your offer.

Keep in mind that sometimes the seller isn’t just looking for the highest price. Some sellers want a quick close date, no concessions, or a specific type of financing. If you have that information before making an offer, you’re definitely going to have the upper hand.

A good agent will find out everything they can to highlight your offer.

There are also some very important factors that will help position you to submit the best offer. You need to be very competitive in regard to the sale price, have a high earnest deposit, and reduce the time it takes to complete the inspection.

If you would like to schedule a consultation or have any further questions, please feel free to give me a call or shoot me an email. I look forward to hearing from you.

Why Can’t You Trust Zillow?

Info@TAGRealEstateAZ.com (Andrew Altman) — Thu, 19 Jan 2017 09:01:00 -0800

Zillow’s own CEO sold his home for 40% less than the Zestimate.

Can you trust Zillow home valuations?

It’s very risky. All Zillow does is create an algorithm, which is a mathematical equation that is right sometimes and wrong many other times. When looking at different neighborhoods, the type of neighborhood you're in can go a long way in determining how close Zillow’s Zestimate will be.
If you’re on an acre of land in a farm community, the Zestimate may not be as accurate as it would be if you were in a tract home community. Zillow can’t see the inside of your home. They don’t know about things like updates or whether the home was a distressed sale. There are simply too many factors that go into a home’s value, so you need to work with a trusted real estate advisor to get an accurate home valuation.

Zillow’s own CEO sold his home for 40% less than the Zestimate.

In fact, Zillow's CEO himself probably doesn’t trust their Zestimates. He recently sold his home for a staggering 40% less than what that Zestimate said it was worth!

If you have any questions about home values or you’d like a free, accurate valuation of your Phoenix home, give me a call or send me an email. I’d be happy to help.

How to Increase Your Home's Resale Value

Info@TAGRealEstateAZ.com (Andrew Altman) — Fri, 6 Jan 2017 09:20:00 -0800

There are a lot of ways to increase your home's value when it comes time to sell. They can be large or small-scale projects depending on your individual situation.

How can you increase your home's resale value?

To make the best first impression on buyers, you want to bring in a professional to give you advice on decluttering and staging your home. If you don't want to go through a full renovation, there are a number of small improvements you can make to your home in order to increase its value.

In fact, these are the kinds of upgrades we specialize in.

Sometimes, for example, you can just paint cabinets instead of replacing them. Replacing carpet is also a fix that takes less than a day. The same goes for painting a few walls.

You can increase your home's value with small, easy improvements.

These are just a few of the suggestions we might give you if you brought us out to your home for a look at your individual situation.

Once you figure out your home improvements, how can your real estate agent improve your home's value? That's a bit trickier. Most agents put a sign in the yard, put the home on the MLS, and pray that it sells. That's not how we do things at the Altman Group. We have a comprehensive marketing plan to get you more money in less time.

If you have any questions about adding value to your home or how we can help you sell fast for more money, give me a call or send me an email. I'd love to continue this conversation with you!

Why You Should Bring Your Realtor to Visit a New Build

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 5 Dec 2016 08:16:00 -0800

If you’re interested in purchasing a new construction home, here is why you should bring your Realtor with you on your first visit.

If you’re visiting a new build site, should you take your Realtor with you? The answer is always yes!

The common misconception is that you’re going to get a better deal without a Realtor present because they’ll subtract their commission off of the sale price. This is not true. In actuality, the builder has the Realtor’s commission in a separate marketing budget.

In addition, a Realtor can help you negotiate a price. When you walk in off the street by yourself, the builder is not going to tell you that the price of the home is negotiable. What we can do as Realtors is negotiate you a better deal. Sometimes this means a percentage off of upgrades, and other times it means that we can simply get you a lower purchase price.

A good Realtor can help you negotiate price.

In fact, recently we got one of our clients $46,000 off of the purchase price of a new build in Gilbert, Arizona!

If you have any questions about purchasing a new build or anything else related to Phoenix real estate, reach out to me so that we can sit down and discuss a strategy to get you the best deal on a new home. I look forward to hearing from you soon!

Buying a Home Vs. Renting a Home

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 14 Nov 2016 11:38:00 -0800

Should you buy a home or rent a home right now? Which option is better for you? There are a few things you should know before you decide.

Is it better to buy or rent a home right now? There are a couple of important factors for you to consider when making this decision.

For example, the current rental market is at an all-time high. Rents are sky-high right now, which means that sometimes it’s cheaper to buy a home than to rent one.

Rental rates are sky-high right now.

The two benefits of buying a home now are interest rates and lending programs. Interest rates are at an all-time low in our area, and there are some great lending programs available. These lending programs include 0% down loans, 3% down loans, and 3.5% down loans.

There are also grants available to cover your down payment. There are even programs that pay for your down payment and closing costs!

If you want to get into a home for as little as $500 down, we can help you. Give us a call or send us an email and we can help you make an educated decision.

Why Is Housing Inventory an Important Figure?

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 24 Oct 2016 09:47:00 -0700

Housing inventory is an important figure. It measures the supply of homes on the market as well as the demand for those homes.

There are a variety of opportunities in the 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.

What is housing inventory and why is it important to buyers? We are answering those questions and more today.

Housing inventory is a measure of our market’s supply.

Housing inventory is a measure of our market’s supply. Basically, if we stopped listing homes right now, inventory levels measure how long it would take for all of the homes on the market to sell based on the absorption rate.

A balanced inventory is around four months. Anything lower than that is a seller’s market while anything above it is a buyer’s market.

The number of homes on the market is going to affect your value. The more homes that are on the market, the more stagnant the market becomes, and the more competitive you have to be with your pricing.

Low inventory levels, like those in Avondale, lead to competitive markets with a lot of multiple offer situations. Sellers will want to price high and see where the market goes.

If you’re in a high inventory market like the one in Scottsdale, things will be more stagnant and you’ll have to be more competitive with your pricing when selling.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

The Importance of Appraisals in Phoenix Real Estate

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 5 Oct 2016 09:09:00 -0700

Do you know what appraisals are and why they're so important? Appraisals have a significant impact on any home transaction that involves financing.

What are appraisals and why are they important? An appraisal is a third-party opinion of the value of a home. There are two different ways the appraisal process works.

First, if you are listing your home, you can order an independent third-party appraisal before listing to get an idea of the value of your home and to double check with your agent.

If you get an appraisal during the selling process, the appraisal comes after the inspection period to make sure the value of the home meets or exceeds what the bank is going to loan for the home purchase.

Appraisals are ordered by the bank lending the money.

Appraisals are ordered by the bank lending the money, and it will randomly go out to many appraisal companies to ensure that there is no collusion or fraud involved. An appraiser will come out to your home, walk around it, and measure it to give you their opinion of price.

Appraisals are so important to the transaction because if the appraisal comes in below the agreed-upon price in the contract, the buyer might not be able to secure the loan, or they may have to bring extra money to the closing.

For sellers, appraisals are important because they can cause them to lose out on a transaction that's 30 to 45 days in. They may have to start all the way over or lower the purchase price.

These are all reasons why it's critical to have a Realtor you trust guide you through the process.

If you have any questions about appraisals or the Phoenix real estate market, give me a call or send me an email. I'd be happy to help.

Don’t Leave Money on the Table When Selling in Phoenix

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 29 Feb 2016 09:29:00 -0800

Today I have advice for all of my home sellers in Phoenix. You don’t need to spend thousands and thousands of dollars trying to completely remodel your kitchen or bathroom before you sell your home. There are many smaller, more manageable projects that you can try your hand at.

For example, repainting and installing new carpet are always good bets. Getting your carpet professionally cleaned is also an option. Both of these fixes have high returns, and they both have minimal costs.

Landscaping and curb appeal also matter. You need to form a good impression with a buyer, so be sure to repaint your front door, trim your hedges, mow your lawn, and perhaps plant some new flowers. You need to make buyers curious enough on the outside of your home to want to wander inside.

When a buyer walks through your front door, you’ll want to stage your home in a way that’s appealing and inviting to them. Do your best to clear off your counters and your closets. You would be amazed at how much bigger your home feels. Staged homes often sell for much more money, and my stager can come inside your property to give you some advice on how to showcase your home.

You should also clear out your schedule for the first 21 days of the sale. This time period is crucial, and if you can’t make time to show your home, then it may sit on the market longer and not sell for as much money. Arrange your schedule so that you can be flexible and allow as many showings as possible during this time frame.

If you want more tips on how you can maximize your sale price, please don’t hesitate to ask me. I look forward to speaking with you!

What Do Current Phoenix Market Conditions Mean for You?

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 8 Feb 2016 14:14:00 -0800

Today, I want to share a few market statistics with you to give you a good idea of where we're at.

If you're in the East Valley, $350,000 is your key number. Homes listed under this are getting multiple offers and selling quickly.

Maricopa County as a whole is still a pretty balanced market. We’re at 4.1 months of inventory, which means it’s a touch of a buyer’s market. However, in some pockets of the market we’re seeing inventory as low as 1.9 months, which means homes are flying off the shelf in those areas!

If you’re in the West Valley, the magic number for you is $250,000. Any home under that price is in high demand! Homes that fall under that market are selling incredibly fast and for top dollar, so now is the time to list if you’ve been on the fence and have a property in that market range!

If you would like a more detailed analysis of our current market, please don’t hesitate to reach out to me. I’m always available to help you!

How to Improve Your Credit Score in Glendale

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 4 Jan 2016 12:42:00 -0800

Have you ever heard about credit services here in Glendale? Randall Mills from The Mills Team at Amerifirst is here to answer some questions about credit services today.

What are credit services? They’re a free credit program for clients. We help clients get credit scores to where they’re actually practical and reasonable.

How does this work? We take a quick application and simulate an interaction with credit bureaus. We know how that audience would react, so we work on how to improve them with you. It’s easy.

If you need credit services, give us a call today! I’ll connect you with Randall. I’m here, too, for your other real estate needs. We’re happy to serve you and seal that deal with your dream home soon.

Does a 0% Down Loan Really Exist?

Info@TAGRealEstateAZ.com (Andrew Altman) — Thu, 3 Dec 2015 12:27:00 -0800

Today we are here with Randall Mills with the Mills Team at Amerifirst Mortgage, and we’re going to talk about 0% down home loan programs.

There is a great program from Amerifirst and Maricopa County out there, where the county will pay your down payment for free, for both conventional and FHA loans.

There are some income and credit qualifications you’ll have to meet, but if you aren’t where you need to be with either of those, Amerifirst can help you out.

If you want to save some money in your bank account and utilize a 0% down loan program, give us a call or send us an email and we’ll see if you qualify. Also, if you or someone you know is looking to buy or sell in the next 90 days, we would love the opportunity to help them make a move. Talk to you soon!

Why Are People Waiting to Buy Homes?

Info@TAGRealEstateAZ.com (Andrew Altman) — Fri, 28 Aug 2015 14:51:00 -0700

One thing we know for certain about the real estate market is that it is never going to stay the same for long. Today we want to talk about an interesting trend we’ve notcied in real estate: millennials are waiting longer to purchase their first homes than their parents did.

The typical first-time buyer now rents for an average of 6 years before buying a home, which is up from 2.6 years in the early 1970’s, according to Zillow.

We came across a great article on the topic from MSNBC. If you’d like to read the full story, click here. To save you some time, I will give you my three biggest takeaways from the article.

1. Down payments are a huge factor
Renters in today’s market are struggling to save for down payments and qualify for mortgages. Most first-time buyers still depend on personal savings for at least some of their down payments, but rising rental prices have complicated the task of socking away money for a down payment.

2. Rising rental rates are complicating things as well
Rental rates are causing 46% of renters aged 25-354, to spend more than 30 percent of their incomes on rent, up from 40 percent a decade earlier.

3. Job security is important to millennial buyers
The Money Source, a mortgage lender, examined applications from 5,404 millennial buyers and found that these buyers averaged nearly 4.5 years in their field of work and had held their current job for slightly more than three years. Those figures point to how critical career stability is to a younger generation.

How Can You Stage on a Budget?

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 15 Jul 2015 17:48:00 -0700

If you are looking to sell your home, your goal is to get the most money possible in the shortest amount of time. One of the best ways to add value and appeal to your home is through home staging. You have a lot of options for how you want to go about it. You could hire a professional staging company, but that comes with a hefty price tag. Most of the time, a few simple fixes is all it takes to transform a living room.

Today we are going to go through some of our most favorite, inexpensive home staging tips or you. We hope these will help you save both time and money when it comes time to sell your home.

A fresh coat of paint is always a good idea. Neutral, warm colors work best for highlighting the natural light in your home. This will make it easier to punch up the room with some colorful accessories and pull everything together.

A common design problem facing many homeowners is that they have no real entry way, as their front door opens up to the living room. To fix this, you can add a table, some lighting, and a rug to "fake a foyer" and make it feel like the living room and entryway are two different spaces.

A patterned rug, some pillows, or bright curtains add a ton of texture and an eclectic layer to the space, which is essential to a well-designed room.

In some cases, a "make-under" is just what you need. In the case of most fireplaces, taking some accessories and clutter away enhances the look and feel of the room greatly.

You could spend well over a few thousand dollars with a staging company, or you could do these fixes yourself for around $500. That's a small investment considering the value that you add to your home by adding those pieces.

If you have any questions for us about staging your home or anything else real estate related, give us a call or send over a quick email. We are always here to help, and would love to hear from you!

Phoenix Market Snapshot

Info@TAGRealEstateAZ.com (Andrew Altman) — Mon, 3 Nov 2014 07:42:00 -0800

The market here in Phoenix has seen better days. There is currently a weak demand for homes throughout the area, with the exception of a few pockets. Because of weak demand, the average days on market has risen to 84, from only 61 last year. Our inventory has also increased - to 4.2 months from 3.4 months at this time last year. Additionally, the listing success rate has fallen from 76% to below 70%.

The only good piece of news we have for you today is that average sales price has risen to $250,000 from $225,000. The luxury market is seeing some positive trends, as activity is still strong for homes above $2 million. While overall conditions aren't the best, we will make it through this holiday season. Homes may be sitting on the market for longer, but sellers are getting higher prices in the end. This time of the year is pretty ideal for sellers, as we typically see serious buyers in the fall and winter months.

If you have any questions regarding Phoenix real estate or need a hand navigating this tough market, give us a call or shoot us an email. We can help you make the most of these conditions!

Does Your Policy Cover These Hazards?

Info@TAGRealEstateAZ.com (Andrew Altman) — Tue, 7 Oct 2014 14:21:00 -0700

Most Arizonans aren't likely to purchase flood insurance, even after the recent torrential downpours rendered many homes and streets completely flooded and unnaccessible. Although it's not likely to happen again anytime soon, a lot of homeowner's already learned the hard way that flood insurance is not covered in your standard policy.

This got us thinking: What other kinds of disasters, that you have no control over, are not covered in standard policies. We compiled a list of 6 different potential hazards that aren't covered by traditional policies, but could lose you a lot of money if they aren't covered.

1. Mold

Mold may be covered in some policies on a limited basis, but it is probably not fully covered. Talk to your agent about what kind of mold coverage you have.

2. Sewer Backup

This is important, as for a small extra fee of $40 or $50, you can add this to your current policy to be protected against a sewer emergency

3. Sinkholes

While sinkholes aren't common in AZ, it is required to have a standard sinkhole policy in Florida, where they are much more common.

4. Termites

With termites in Arizona, it's not a matter of if it happens to you, it's a matter of when. Most homeowner policies partially cover termite damage, but may not cover you in all termite related damages. It would be a good idea to check with your insurance agent to make sure you are covered for all types of termite damage.

5. Nuclear Accidents

Nuclear accidents aren't common occurrences, but if your insurance doesn't cover it, you could be in trouble. There is a plant nearby in the Valley.

6. Acts of Terrorism

A lot of issues with this kind of coverage came about after the Boston Marathon bombing. If you live in an apartment or condo you may have partial coverage, but you aren't fully covered if an act of terrorism destroys your home.

These are all things that you want to talk to your insurance agent about, no matter how minisucle or silly they may seem. Flood insurance in Arizona may have seemed like a bad idea until a few weeks ago. Now we have clients that are spending thousands upon thousands of dollars out of their own pocket, just to restore their homes to normal.

If you know anybody in Phoenix that is buying or selling real estate in the next 90 days, please give us a call. We'd be glad to help out!

Teaser: Up until a few weeks ago, you probably would have though somebody with flood insurance in Arizona was crazy. Well, who's laughing now? There are actually a lot of things you have no control over that are not covered in your standard homeowner's insurance policy. To see some of the other disasters that you probably aren't covered for, check out our latest video!

Debunking Myths About Newly Built Homes

Info@TAGRealEstateAZ.com (Andrew Altman) — Tue, 23 Sep 2014 11:16:00 -0700

There seem to be a lot of misconceptions out there about newly constructed homes, at least according to the questions we have been getting. We want to clear some of those myths up for you today so you can get a better understanding of how you should go about purchasing a newly built home.

1. Why use a buyer's agent?

Well, hiring a buyer's agent will help you out immensely, especially with newly built homes. The builder's representative, the listing agent, is only interested in selling the home for the best price for the builder. You want someone on your side who can negotiate for you and read through that dense contract to make sure you aren't making any unfair concessions. We have relationships with these builders and know what they can and can't do in terms of a sale price.

2. Can't you save money by not using a buyer's agent?

This is another common misconception. We can always negotiate a much better deal for you than you can yourself. This is our profession and it's what we get paid to do. We want to get you the best possible deal.

3. Are new builds negotiable?

Yes, some are. We want to touch specifically on spec homes, or homes that are in the process of being built or are already built. A lot of times, these homes have custom options already put in, so the listing agent will discount them to get the homes sold.

4. Does my buyer's agent need to be present for the first visit?

This is probably the most important tip. If you sign up with a builder right off the bat without talking to your agent first, you are waiving your right to representation. You want someone on your side to review that contract and make sure it is beneficial for you.

If you have any questions, or know someone who is looking to buy or sell real estate in the next 30-90 days, let us know. Give us a call or send us an email and we would love to help you out.

How to Have a Successful Closing

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 10 Sep 2014 13:22:00 -0700

It's tough enough nowadays to get a mortgage, but we have seen a lot of similar mistakes that have been preventing people from getting a mortgage in order to buy a home. Here are 10 tips on how to keep your mortgage in place and have a successful closing:

1. Don't change your job

Don't quit your job, either. It will negatively affect your ability to get a loan

2. Don't cosign for anybody

Any small credit change could affect you in the long run

3. Don't buy a vehicle

Unless you plan on living in it, that is. Buying a vehicle can negatively affect your credit to the point that you probably won't be able to buy a home anymore.

4. Don't use credit cards excessively or miss your payments

5. Don't spend money that's set aside for closing costs

6. Don't lie or mislead on your credit application

The smallest little change can affect you

7. Don't buy new appliances

Buying furniture, appliances, or other household items could set you over the edge on your credit.

8. Keep your credit the way it is

9. Don't make large deposits, talk to your lender first

10. Don't pay off collections or charge offs.

Bottom line, always check with your lender before making any changes to your credit, no matter how small they seem. Staying on top of your credit now will only help you in the future.

If you have any questions for us, please feel free to call or send us an email. We'd love to answer them for you.

How Is Your Credit Score Calculated and What Does it Mean?

Info@TAGRealEstateAZ.com (Andrew Altman) — Wed, 27 Aug 2014 07:20:00 -0700

There are a variety of opportunities in the 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.

Your credit score is probably one of the most important numbers in your life. It affects family planning because it determines your risk to lenders, merchants, and vendors. Indeed, if you need a loan for any reason, your credit score will come into play.

3 credit bureaus determine your FICO score. They calculate it using a combination of your financial records: 35% payment history, 30% amount you currently owe, 15% length of your credit history, 10% new credit inquiries, and 10% types of credit (includes loans, credit cards, retail accounts, etc.).

If you have a great score and a substantial amount of money, give us a call. We can help you diversify your investments by adding real estate to your portfolio.

If you are struggling in the credit department, we can help you as well. We have access to resources and people you can talk to that can help you get your financial situation on the right track. A lot of the solutions to your problems are DIY and completely free - so there is no need to stress. In fact, here are 3 things you can do right now:

Check your credit report: There are many free resources you can access online. Check your score once a year, go through it in detail, and get in contact with a credit bureau if you have any problems.
Set up payment reminders: Call your bank and set up reminders so you get an email, a text, and a call to remind you to get your payments in on time. It's free!
Reduce the amount you owe: This is an obvious one and it sounds easier said than done. Pay off the smaller debts first to gain the momentum and confidence to follow through on the higher interest loans.

We hope you find this information helpful. As always, if you or anyone you know is interested in buying or selling real estate in the Glendale area, don't keep us a secret. We would love to make your real estate goals a reality.