No. And Yes, I Hate It When I'm Right. - 09/30/11 05:25 PM
You work this business long enough - you get a lot of people asking for your advice - some take it, some don't - some just debate whatever you say!
A few months back, someone came to me for property management advice. I shared my opinion on the best rent range, improvements to make, best ways to select tenants, etc. I also suggested using a property manager because she had never been a landlord. If she didn't want to hire me - there are many in Tucson to pick from. Her response to everything I said? NO.
Fast forward to … (6 comments)
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Investing In Real Estate Isn't Just About Buying Property. - 09/29/11 09:27 AM
It's about creating a financial situation to buy and continually invest.
Many people are looking at real estate right now for investment purposes - and too often I come across those that think, "I'll just buy a cheap home, rent it and make some money." If this is your goal - you might do OK - but the odds of being successful at investing in real estate will be short lived.
Investing doesn't just begin with buying - it begins with research to buy the right home. Some best tips:
· Buy what you can afford first and … (4 comments)
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Careful! That Person Might Speak Your Language! - 09/28/11 12:48 PM
Just another reason why Sellers should not be home when a buyer comes to view it!
Went out with some buyers yesterday - they wanted to take a second look at a home they loved! Felt the price was right and before making a solid offer - wanted to just be sure.
This time, the Sellers and family were home. After pleasantries, the Buyers began looking all around. The Sellers, amongst themselves began talking. In a different language. And they were talking about the Buyers. I understood enough - you see here in Tucson - it's always a good idea to … (17 comments)
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Doesn't Hurt To Ask! Or Does It? - 09/27/11 08:16 AM
Coming across this alot these days - people asking for everything they can think of - especially if they are buying or renting a home. Why not?! Right?! It doesn't hurt to ask is something I hear often.
Or does it?
Over the past six months, a tenant called asking for repairs of all sorts. Seems the thought process is - it's not my house so why should I do anything to improve it? The owner is very kind and tried to address each issue best he could. And then came a call a month ago. The soap dispenser mounted … (68 comments)
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Prices Keep Falling - Why Should I Buy - They Might Drop More? - 09/26/11 07:44 AM
A question that comes up often when talking with Buyers. Especially those that are still waiting for prices to drop more before they buy.
So why should you buy now? There is no one answer for everyone. But there is one factor anyone considering buying should keep in mind - price isn't everything. If the cost of buying a home right now is affordable for you - then it's definitely a time to buy.
In Tucson, prices are falling. Many houses are selling for below $45/sq ft, while others that are not bank owned are priced at $60/sq ft and don't … (9 comments)
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Arizona Experiencing Another Wildfire. - 09/26/11 07:07 AM
News out today reveals that Arizona is experiencing yet another wildfire. The fire has burned over 2,000 acres but so far no wildlife or structures.
It's still warm here in Arizona, and the winds are prevalent. Both contribute to difficult conditions for fighting fires. Though the current fire was lightening caused, the previous Arizona fires have been human caused.
Just a few tips if you are out enjoying camping or any other activity in Arizona forests:
Volunteer to clean leaves and any plant growth on the soil bed of thick forests to remove dry brush that can fuel a fire. Don't smoke … (9 comments)
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By Opening This You Agree To The Terms & Conditions. - 09/25/11 02:18 PM
I bought something the other day. It came with an instruction manual all wrapped up in a sealed package. The sticker on the package read, "ATTENTION: By opening the contents of the package you are agreeing to the terms and conditions contained herein."
OK. But I can't read the terms and conditions unless I open the package so I can't read it ahead of time. Hmmm. I opened the package and looked at the terms and conditions only to realize, there is no possible way I could read and understand it all in the time it took to open the package … (8 comments)
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Two Tucson Things To Do Today! - 09/25/11 09:06 AM
Here are a couple things to do here in Tucson today if you don't already have a bunch planned:
Tucson Greek Festival. This is a fun day for the entire family! Food, kids games, music, dancing, rides, and more food! Today the event runs from 12:00noon until 6pm - and there are free shuttles to take you right to festival - so you can just park and ride! Don't miss the fun!
Oktoberfest on Mt. Lemmon. It's still hot here in Tucson and if you want a break from the heat - head up the hill to Mt Lemmon's Ski Valley … (4 comments)
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Are You On Demand? - 09/25/11 08:44 AM
Meaning - are you there and will you handle what people want when they want it handle?
I hope not because it's the best way to run yourself ragged, to effectively lose clients and lose respect. And once people know they've got you on demand, it doesn't stop!
As was the case with a friend who called yesterday, "I was in the middle of cleaning my house, I dropped everything when they called to see the house - and they never showed up."
Those of us who have been around a while have the skills to handle those types of calls … (6 comments)
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Things You Can't Do On Really Long Home Inspections! - 09/24/11 09:05 AM
Had a very long home inspection, five, almost six hours - not counting the drive which was 45 minutes each way! As the Buyers followed the inspector around I tried to entertain myself!
And thought about a few things that you can't do on really long home inspections:
· Take a short walk - because the minute you leave - you'll be needed!
· Cook a meal - with whatever the owner has on hand (serious - I had a client once who thought it was OK to fix a meal using the sellers food!)
· Watch TV - talk about being disinterested … (8 comments)
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The Cure For A Bad Work Hangover. - 09/23/11 07:48 AM
There's no explaining my day yesterday - it's as if I woke up and thought, "Hey bring on as many frustrating things as you can throw my way..." !
On just five hours of sleep, I'm up earlier than usual to tidy up yesterdays messes and start new today . But it's not always easy - kind of like having a bad work hangover. So what's my cure for a work hangover? No magic pill or drink - just some mind, attitude changing thoughts to start:
Be positive. Any tough situation is better when you look for the positive side to … (12 comments)
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Car Free Day In Tucson! - 09/22/11 09:38 AM
Today is car free Day in Tucson - the idea is to encourage the public to help reduce pollution and try out alternative forms of transportation.
And what will one day hurt to try something different!? You can take a bus, walk or ride your bike! Today, I will be riding with my daughter to school on her bike with several of her friends - here's why:
· First - why not!? I rode my bike to school when I was younger and to give my daughter the same experience doesn't hurt a thing!
· The majority of our … (8 comments)
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What's Making Tucson News Today?! - 09/21/11 03:37 PM
Lots of little things here and there with the city of Tucson and ongoings - here are a few things that are going on around our city:
We've got an Arizona Senator that wants to do away with the dollar bill. The idea is that it will save money over the years.
More money saving topics on the table - Tucson is considering trash pick once every two weeks instead of every week.
We've got an equinox for the next few days - when the sun rises and sets almost at the same time. This can cause some issues when … (2 comments)
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Can I Just Say.. Well There Are No Words..Speechless! - 09/21/11 11:56 AM
Going through MLS listings this morning, I came across some agent only remarks that made me think, "Wow - it must be bad if something like this really needs to be written out."
Here is one that I saw on two listings:
THIS IS A FIX UP SO UNDERSTAND NO FHA UNLESS 203K WHICH IS A LOAN PRODUCT NOT AN AMOUNT.
Now, doesn't it make you wonder who these agents are that don't understand this? For sport, I called the listing agent and here's what he said, "The property was listed at $62,000. The buyer agent submitted an offer of $203k … (3 comments)
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If You Do It Over And Over Again - You Will Lose Over And Over Again. - 09/20/11 05:06 PM
So disappointing when Buyers make offers and repeatedly lose out to someone else's offer.
Buyers tend to blame their agent or start to think that maybe now isn't the right time to buy when they keep making offers but aren't successful. Truth is - at least here in Tucson - home prices are pretty darn good. And even if you have to pay a little more than what you wanted - the odds are - you are still getting a good deal.
Here are some tips to keep in mind if you are in this losing situation and want to … (6 comments)
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Personal Or Professional? It's Not An Either Or - Just Be Yourself. - 09/19/11 08:29 AM
Been reading posts here about including your personal business with professional business. This morning I decided my opinion is: I don't really think it's "either or".
I think it's just about being yourself. And if being yourself means including your personal life - so be it. If you choose to be strictly professional - no problem there either. It's all personality based and there are some clients that want to get to know the person they are working with, and there are others, like an investor I work with who said to me the other day, "Oh - you have … (8 comments)
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Take Some Time To Stop And Smell The Wildflowers! - 09/18/11 07:24 PM
I know the saying goes "take some time to stop and smell the roses" ... but in this case - all Arizona had to offer today were Arizona Mt Lemmon wildflowers.
Alhough not an award winning photograph - it was simple taken with my cell phone after I cycled halfway up Mt Lemmon this morning. As many cyclists passed me - all in an effort to make good time or test their ability to ride up the hill - I found myself getting caught up in chasing down a few cyclists myself.
And then I thought, wait a minute, what's the rush?! It's … (9 comments)
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Six Under $60k And Net $600 A Month! - 09/18/11 09:10 AM
I get asked a lot these days, "Could you really make any money from owning rental property these days?"
My answer: If you look at real estate as a long term investment, if you are diligent about saving money and if you have realistic goals. You can.
This is one example of what I recently negotiated for some buyers who want to set up rentals properties over the next few years: $60,000 purchase price, 4.1% interest rate on an investor loan, $350 a month mortgage payment (PITI), rental income $995.00. If you do the math - you can see they have a … (3 comments)
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Newbie Property Managers: Ways To Lower Your Liability Risk! - 09/17/11 01:37 PM
These days, many real estate agents are moving into the property management business as a way of supplementing their income. If it's a route you are thinking of - keep in mind - it's one of the biggest areas for liability problems for those who haven't learned the ropes yet!
These are a few common mistakes that lead to liability issues:
Simply not having any idea what you are doing - but thinking you do because you have a friend who is a landlord. Best advice: work for a property management company, take some property management courses and spend some time learning … (5 comments)
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Overpriced: Basic Perspective For Those Fluent In Numbers. - 09/16/11 05:55 PM
Interacting with a very analytical type fluent in the language of numbers. He came up with some fascinating numbers and statistics regarding home prices, declining values and it even included an area analysis spreadsheet of a home he wants to invest in. With overlays!
Impressive. But a little over my ability to absorb that much information in the amount of time available!
After reviewing comps, checking market history, and analyzing other information -we settled on price. Thinking we were set, I heard a heavy sigh and then, "Let me ask you again, how can we really tell if the price is still too high?" … (1 comments)
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Paying Rent Is Not Throwing Money Away. - 09/15/11 11:45 AM
Don't waste your money on rent - you are just making the landlord rich! How many times have we heard this? To me - that's like saying, "Don't buy a new car - you're only making the dealer rich!" And these days some cars cost more than a house in Tucson - not to mention it's a depreciating asset the minute it rolls off the car lot! Anytime we spend money - we are making someone else money. So it's time to rethink that mindset.
Whether your idea of wasting money is a home, a car, organic foods, college, expensive shoes … (14 comments)
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When You're Done Wiping Away The Tears Of Laughter - Can We Talk About The Offer?! - 09/14/11 04:23 PM
It seems like anything goes in this market - from full price offers, to multiple offers to low ball offers and even lower than that offers! If you aren't crying tears of frustration - you are crying tears of laughter because that seems to just make it all better for the moment.
No matter - my best advice for anyone who gets an offer in this market - WORK WITH IT!
Laugh at it, pretend to throw it away, make fun of it - anything you want - but DO NOT *NOT* RESPOND to it! Why?
Because it may be … (30 comments)
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I'm Working With Mike Jones - But I Haven't Met Him! - 09/14/11 09:35 AM
Wondering what to write about this morning - I turned on my phone and got a text message from Mike Jones.
I've talked to Mike several times on the phone over the past year - more lately since he qualified my newest Buyer - so we talk a lot, text more and hopefully we'll interact a lot more if the offer is accepted!
So here's just a little about what I know about Mike - he:
· is patient
· follows up quickly and stays in follow up mode
· takes whatever is thrown at him in stride and finds … (6 comments)
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If You Would Want To Know - Perhaps Your Buyer Does Too! - 09/13/11 03:48 PM
Surely we can all name some stigmas people have about home buying that prevent them from buying, prevent them from even looking at a home or on the positive side - make people want to buy a home more!
What bothers one person may not another. I've had Buyers tell me they don't want to buy a house that may be haunted, has granite (because of radon), is on a former landfill site, and the list goes on! With so many stigmatized properties out there - it's important to stay on top making proper disclosures.
Most important things about disclosures … (5 comments)
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How Long, How Many And How Many Times? - 09/12/11 12:43 PM
As much as it takes!
I am loving my newest Buyers! They are fun - everything is so exciting to them - they have the most unique questions about home buying and text throughout the day to check in - just in case I need to reach them!
Over the past couple weeks, as with many home buyers who fall madly in love with a home - these Buyers have driven by the home probably 20 times and *needed* to see it several times before making their final decision. Since they worked around my schedule, I was happy to show them the house … (38 comments)
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9/11 In Tucson - 09/11/11 08:21 AM
For all - we remember. Tucson honors 9/11:
Walk in Remembrance 10th Anniversary of 9/11 Walk & 5K Military/First Responders Fun Run - Reid Park, East 22nd Street and South Country Club Road. Walk, Arizona Search and Rescue canine demonstrations, Tucson Fire Department parade of fire engines, 9/11 remembrance ceremony, apple pie and ice cream social. 7 a.m.-noon.
Tucson Firefighters, Tucson Police and Military Sept. 11 Memorial Event - Park at Tucson Convention Center east parking lot, 260 S. Church Ave. Ceremony at Fire Central, 300 S. Fire Central Place, at 8 a.m. followed by 21-gun salute, flag raising and playing … (4 comments)
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There Are Fairytales With Knights In Shining Armor All Around! - 09/10/11 07:14 PM
In my corner of Tucson today, I took note of a few things that seem unimportant, yet each had that storybook ending with a different kinds of knights in shining armor!
CVC Minute Clinic. My daughter has been sick since Thursday. Not able to break the fever, we took her to the Minute Clinic down the street. It took just a few minutes to get diagnosed by a nurse. If you ever took a sick child to an urgent care - you will know the blessing of this - a total of 1/2 hour to get from home to the clinic … (6 comments)
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Spend Your Tucson Saturday Night With A Six Pack Of Concerts! - 09/10/11 08:40 AM
September is always the month in Tucson when things start happening - the weather cools down a little, running season kicks off and people start coming back to Tucson - including music artists!
Tonight - Tucson has six concerts around Tucson that you can enjoy - outdoors or in:
Xtreme Muzik The Tour
John Rich and Kenny Alphin country music's duo, also known as Big & Rich light up the stage on Kino Sport Complex, 2500 E Ajo Way and are joined by country music artist Gretchen Wilson and Cowboy Troy. It startsd at 4pm today and costs $37 … (2 comments)
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If You Know It Disclose It ~ Avoiding Non-Disclosures For Non-Owners! - 09/09/11 05:53 PM
This month, the Arizona Association of RealtorsÒ released the Residential Lease Owner's Property Disclosure Statement (or the Leasing PDS) to be used in additional to the Residential Sellers Property Disclosure (SPUDS).
Although the Landlord Tenant Act obligates landlords/owners to make repairs and maintain fit living conditions for tenants, this new form/addendum offers a real solution to the disclosure problems that can occur during tenancy. This seems like a very valuable tool to help owners make the proper disclosures as well as reduce the liability for the representing agent.
Highlights of the five sections of the form - as written by the AAR include:
… (3 comments)
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How Would You Look Wearing The Front Page Of The Paper? - 09/09/11 07:44 AM
From time to time I read stories or hear things about what people do - who seemingly think that "it's not so bad", "it's just this one time" or "no one will find out" and wonder, "What were they thinking?!"
Today - another story with these words "Arrested - Fraud - Realtor - Escrow Agent - Federal Charges" on the front page of the local news. Cringe.
Some people who cross the line of right and wrong think they won't get caught. But I believe everyone has their day and if what you are doing is wrong - you will … (11 comments)
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Does A Tenant Get The Short End On A Short Sale? - 09/07/11 04:11 PM
So - you decided to rent your home. All is going well and you get it rented with someone who signed a one year lease.
A month later, you decide to sell the home - and it's short sale - and it sells in about five months. The new owner (buyer) comes along and is now threatening to evict the tenant because the tenant hasn't moved out.
Can the tenant stay in the home for the rest of the lease term?
Yes. Because of a 2009 federal law that requires a new owner after a foreclosure to honor the lease … (9 comments)
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Touchy Feely Side Of Real Estate - Things People Will Never Forget. - 09/06/11 09:48 AM
Weeks ago I met a very nice couple. They sold their home and have been looking for another one. As we talked more, the wife mentioned she didn't really like their agent. She felt he didn't want to take them to see any homes unless it was one they would buy - she felt they weren't high enough on his priority list because they were a lower end price point and she felt like he didn't really understand what they needed and wanted.
Digressing for a minute, why people think they are stuck with an agent they don't like and one … (22 comments)
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Did You Stick Round Tucson For Labor Day?! - 09/05/11 07:46 AM
While many people take advantage of a three day weekend by leaving town - if you decided to stick around Tucson here are some things that are happening today:
The Annual Labor Day Picnic in the park at Reid Park Bandshell. The event honors working families and union members and is open for everyone to enjoy hot dogs, musical acts, dancers, labor history exhibits, children activities and fun games. From 10am until 2pm the admission is free.
The annual Labor Day Run at Saguaro National Monument kicks off running season in Tucson! The event is an 8 mile loop around the monument … (6 comments)
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Will You Spend The Night At Our House Next Time? - 09/04/11 07:27 PM
The second day of a long weekend and what started out as a "nothing planned and do nothing" weekend - it has sure been quite the opposite! And no complaints from me!
Our plans consisted of going to our home up on Mt Lemmon and doing all of nothing for a few days. After arriving we just unpacked, went out to the deck, put our feet up and here comes a car full of friends who happened to see us drive by!
That was at 10:30am! An hour later, here comes another car full of friends who also happened to see … (8 comments)
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I'm Hot. Really. - 09/01/11 05:30 PM
There is that moment in every Arizona homeowners life - especially in the summer - when you say, "Dang it - I should have called the AC service guy last week."
6am - realizing the AC stopped working - I checked the weather. Then began dialing for repair folks. By 7am it was near 85 degrees in the house. Pschologocially, 85 sounds better than 113 - but- I was stil hot and getting hotter. Once I found someone who could come - not fast - but at least today - I began to wonder what other people do when their AC breaks! Here's one thing … (11 comments)
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