relocation: Time is of the Essence - Don't be too late!
- 03/04/18 06:52 PM
“Time is of the Essence: The parties of this contract agree that time is of the essence in the performance of the obligations described herein.” The sentence written above is an example of a Time is of the Essence clause.
What does it mean to use and agree to a “time is of the essence" clause? It means that the signing parties agree to and understand that the dates and times specified in the contract terms are crucial. That failure to act within the specified times amounts to a material breach of the contract.
Why is this simple sentence so important? The general rule in contract … (4 comments)
relocation: The American Dream Alive and Well - Part 2
- 02/24/18 09:08 AM
I recently posted an article about how I was able to help a First Time Homebuyer achieve his dream of homeownership (see The American Dream Alive and Well). In that article, I commented that it was a very rewarding experience, despite the small commission. Sometimes in real estate, you cannot count your reward only in terms of dollars and sense. But one of the things that I did not include in that post was the downstream effect of closing a transaction like that one. You see, what I failed to mention in the original article was that my client was so happy … (2 comments)
relocation: Is your Home Inspector a deal killer?
- 02/18/18 06:34 PM
Home Inspectors play a very important role in the sale of a home. A good Home Inspector can assess the home and provide both buyers and sellers with worthwhile evaluation of the current condition. But like all facets of the transaction, the inspection must be performed by a competent and qualified individual. A bad or unqualified inspector can kill a deal that otherwise would go smoothly. Over the years I have had the pleasure to work with dozens of Home Inspectors, some were very good. But I have also had the displeasure to have to deal with inspectors that were not so good. … (3 comments)
relocation: Crazy Little Thing Called Love.
- 02/12/18 09:05 AM
It's Valentine week and love is all around us. For many people finding the right home is like finding your true love. You walk into a house and your heart starts to beat a little faster. You begin to imagine yourself relaxing in the living room, entertaining friends on the patio or sunning yourself poolside. It’s love at first site. But what starts out with that head over heels feeling, can change quickly if you lose sight of the reality of the situation. Love can make you overlook flaws that you wouldn’t ignore if you were standing on solid ground instead of cloud … (3 comments)
relocation: Think housing is tough in the U.S.?
- 02/04/18 10:51 AM
Home ownership has always been an important part of the American Dream. Our system has made homeownership easy for a large segment of the population. But housing is not as easy or inexpensive in other parts of the world. Here are some interesting factoids about housing in Japan. A new home in Japan cost 5-8 times the annual income of the average Japanese vs.the 2-3 times that of an average American home. The typical loan term for Japanese homes is 20 years, with a 35% down payment. The taxable value of a house is controlled by its building material. Wooden houses are considered … (3 comments)
relocation: Showing the wrong home.
- 01/26/18 10:30 AM
Recently I had an experience that is probably not all that uncommon, yet interesting. I was showing homes to a buyer client in one of those subdivisions with all the short winding streets. I was using the directions from the MLS plano and pulled up in front of the house. Everything thing looked correct, right street, right agents’ sign, lockbox on the door, etc. As a habit, before entering any home I ring the doorbell even if I think it is unoccupied (see my blog article Showing Occupied Homes to understand why I always ring first). To my surprise, a nice young … (2 comments)
relocation: Going Where The Weather Suits My Clothes
- 01/25/18 07:54 PM
I relocated to Phoenix from Illinois in 2001 and have never looked back. I remember my first November here, I was speaking with a few friends back in the Chicago area and I told them I hadn’t worn long pants since I arrived. They, of course, were gearing up for winter and were pulling their winter clothes out of the closet. They were busy cleaning the gutters, putting up storm windows and tuning up the snow blower. Since then I have learned that migrating to a new part of the country doesn’t just take planning, it requires some new thinking as well. I … (5 comments)
relocation: Rules are made to be broken... Or, are they?
- 01/14/18 03:16 PM
In today’s society rule breakers are often lauded as creative, thinking outside the box, even genius. We often hear that rules are meant to be broken. When Dick Fosbury perfected the “Fosbury Flop”, he was thinking outside the box. Since there was no rule that stated which direction a jumper needed to approach the bar. He merely found a better way to do something within the rules. When Charles Ponzi devised his infamous “Ponzi Scheme”, he was also thinking outside the box. I would bet he would argue that rules are meant to be broken. But the Securities and … (0 comments)
relocation: Being Different Can Lead To Success.
- 12/22/17 10:50 AM
In today’s modern world it is often hard to differentiate yourself from the conventional. In business, we are often taught that in order to succeed you must follow accepted business practices. Memorize your scripts, set your goals, mimic successful people, etc. While all of this is good advice, sometimes the things that make you different from others may be the key to your happiness. My argument can be easily substantiated by one simple example. Rudolph the Red Nose Reindeer. Rudy was so ostracized by his peers that they wouldn’t even let him play in any reindeer games. Until they discovered that they needed … (1 comments)
relocation: Why a condo may be your best choice.
- 12/16/17 09:43 AM
When trying to decide the type of property in which you should invest your hard earned money, many factors may come in to play. While purchase price is always an important part of the equation, there are other ongoing costs that you may have to consider before deciding between a Single Family Residence (SFR), Townhouse or Condominium. But debating the economics of the purchase is only one factor in deciding where to live. A second and equally important aspect of your decision should be your lifestyle. If you are someone that enjoys a large private yard, enjoys working in a garden and … (4 comments)
relocation: Dog Cancels Contract!
- 12/10/17 07:18 AM
Home buyers will typically visit several homes before deciding which are of interest to them. Once they see what they like they may wish to make an offer on the home. In today’s active market buyers do not always have the luxury of multiple visits and time for a lot of research before making an offer. Fortunately, in most cases, the Buyer is offered an inspection period to further research the details of a home. Many buyers believe that the inspection is limited to a physical inspection of the building, but in most states (Arizona being one of them) the inspections(s) cover a broad … (4 comments)
relocation: There is No Place Like Home for the Holidays.
- 12/07/17 11:33 AM
It's Beginning To Look A Lot Like Christmas just about everywhere. The restaurants and stores are all playing Here Come Santa Clause and Run Run Rudolph.
Here in Phoenix, even though it won't be a White Christmas we can still enjoy a Winter Wonderland. After all, what could be more fun than Rockin' Around the Christmas Tree or doing The Christmas Waltz.
So this year let's keep That Spirit of Christmas because Santa Clause is Coming to Town.
We hope you Have Yourself a Merry Little Christmas.
Want to be Home for the Holidays? For the holidays you can't do better than www.Scottsdale-AzHomes.com
… (3 comments)
relocation: Sellers Property Disclosure a Burden or Benefit?
- 12/04/17 09:53 AM
In most states, Sellers are required by law to disclose all known material facts about the property to the buyer, even if the property is sold As-Is. This is especially true with regard to defects and repair history. But disclosing facts about a property is not always easy, the older a house gets the longer the history becomes. Some items like remodeling or redecorating are easily discovered by new buyers. Other items like repairs to foundations or electrical work may not be as apparent to the naked eye. While the burden to discover is typically placed on the buyer, it is important … (0 comments)
relocation: It should be Buyer Aware, not Buyer Beware.
- 11/22/17 09:46 AM
We often hear the phrase Let the Buyer Beware (caveat emptor). The phrase comes from the contract law principle that buyers typically have less information about the property they are purchasing, while the seller has more information. Certain defects, known to the seller, may be hidden from the buyer either inadvertently or purposefully. So as a home buyer how do you protect yourself and somewhat level the playing field? The best way to avoid problems down the road is by using what I call Buyer Aware (conscius emptor). As a buyer, who is about to make one of the largest financial transactions … (0 comments)
relocation: Get to know Phoenix before you relocate.
- 11/11/17 06:12 PM
The Phoenix Metropolitan Statistical Area (MSA) is one of the fastest growing metropolitan areas of the country. Whenever I encounter someone that is considering a move to the area they often ask “Where should I live in the Phoenix area?" This is always a difficult question to answer because Phoenix, affectionately known as The Valley of the Sun, is unlike any other area of the country with regard to employment and housing. The Phoenix MSA (which is officially known as Phoenix/Scottsdale/Mesa) consists not only of Phoenix the largest city, but several other large cities like Glendale, Mesa, Peoria, Scottsdale, Tempe and … (0 comments)
relocation: Showing occupied homes.
- 11/09/17 06:39 PM
Showing occupied homes requires some additional planning and scheduling on behalf of the agent(s) involved. Despite the fact, the sellers want to make their homes available for easy showing it is not always possible to accommodate showing on short notice or during a busy time. Agents wishing to schedule showings of occupied homes must provide sellers enough time to make the home available. A little courtesy like scheduling a day or two in advance will go a long way toward making the visit a positive experience for both the buyer and the seller. No one wants to view a home that is … (0 comments)
relocation: The value of a client is greater than one.
- 11/04/17 10:17 PM
Every agent knows that keeping their pipeline full of clients, both past, and prospective, is the secret to success. Over the years I have created a fairly nice portfolio of past clients that has helped sustain my business while I prospect for new clients. Depending on which study you read, acquiring a new client is anywhere from 5 to 25 times more expensive than retaining one, and research shows increasing retention rates by just 5 percent can increase profits by 25 to 95 percent. That means by managing your prior customer relationships, you’re taking the most important step in maintaining consistent sales. … (1 comments)
relocation: Selling a home with a pool.
- 11/02/17 10:12 AM
Selling a home with a pool places some unique responsibilities to the seller that not be required by houses without pools. It goes without saying that sellers of homes with pools should make sure that the pool is in proper working order. Hardware like filters, pumps, valves, heaters, lights and other miscellaneous plumbing must be functional. There should be no leaks. If a spa is included it should meet all functional requirements as well. But even if the pool meets all of the functional specifications there may be more that is required by homes and homeowners that have a pool. The pool … (1 comments)
“Time is of the Essence: The parties of this contract agree that time is of the essence in the performance of the obligations described herein.”
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