Arizona Real Estate Notebook

Here some inside baseball from Realtors about setting the list price of your home from the Arizona Republic. A home owner commonly believes their home is worth more than it actually is worth but during the crazy market of 2004 and 2005 those overly optimistic sellers often turned out to be right. A seller would [...]

I haven’t personally been involved in any seller carryback mortgages. I associate seller carryback financing with high interest rates. That is, when interest rates are high, sellers may have to finance the sale themselves to get the property sold. Bob Bruss (see article linked) tauts them as a good option for some retirees when they [...]

Bob Bruss has another item about how a real estate gift becomes a lose-lose situation. For more articles, click “Today’s Top Real Estate News” under my photo.

Many people who can’t afford to buy a home, or think they can’t, are attracted to lease purchase agreements, a lease with an option to buy the home. I saw a lease purchase ageement several months ago from one of the largest property managers in the Valley that was so skewed in favor of the [...]

I wouldn’t want to own a home on land owned by someone else. Nevertheless, there are a few communities in Scottsdale built on leased land. The Briarwood communities and Scottsdale House pop to mind. Bob Bruss mentions the disadvantages of owning a home on leased land. The only advantage I can see is they tend [...]

Probate ain’t cheap. He said there is an expedited procedure, but it will take about six months, maybe longer. His fee, according to the state statute, will be about $6,400. Bob Bruss didn’t mention it but you can also avoid probate in Arizona by using a beneficiary deed. For more articles, click “Today’s Top Real [...]

Yes, “title insurers readily admit they pay out less than 10 percent of premiums collected for title claims” yet “title insurance is a ‘necessary evil’ for real estate owners” says Bob Bruss. For more articles, click “Today’s Top Real Estate News” under my photo.

Dian Hymer says (and she’s right) the perfect house doesn’t exist – not at any price. Just make sure your compromises don’t leave you wanting to move again soon. For more articles, click “Today’s Top Real Estate News” under my photo.

I had a client who nearly got ripped off big time by an online mortgage company. I referred her to a mortgage lender I know (John Michaels at O’Dowd Mortgage, 602-248-4200) who gave her a far better mortgage with far lower fees. But apparently not all online mortgage sites are rip off artists. The Mortgage [...]

“Dream on, my friend!” I love this response from Bob Bruss. For more articles, click “Today’s Top Real Estate News” under my photo.

If you use the Firefox browser, you gotta check out the Fasterfox extension for Firefox. I just installed it and browsing is visibly faster for me! Very nice.

Home Sellers: Bob Bruss says raising the commission you pay your Realtor can pay off; cutting rates doesn’t always save money.

Bob Bruss has tips for finding the best fixer-upper houses.

I don’t do dual agency where I personally represent both the buyer and the seller. Bob Bruss has a column about home buyers disadvantaged by a dual agent. Here’s the problem. If I represent both the buyer and the seller, I have to “go neutral.” In particular, I can’t give either party advice on the [...]

• Pros and cons of joint-tenancy home ownership. The article mentions “tenancy by the entireties” which isn’t available in Arizona and isn’t needed because married couples in Arizona can hold property as “community property” or “community property with right of survivorship.”

• Moving out may bring fast home sale. • Common homeowner mistake is a key cause of probate delays. Available for a short time online. Also see “Today’s Top Real Estate News” in the “Recommended” box under my photo.

Bob Bruss on three types of homes investors should avoid. (Availabe for a short time online.) For more tips, click on “Today’s Top Real Estate News” in the “Recommended” box under my photo in the upper right corner.

Don’t make this extremely costly mistake. Bob Bruss points out that if you own your home as sole and separate property and your spouse dies, you will receive no tax benefits because… you didn’t inherit anything.