Tips to Help You Afford Property in Arizona

Tips to Help You Afford Property in Arizona

Tips to Help You Afford Property in Arizona

 

Life is made up of small journeys. Often, these journeys are about pursuing a particular goal. That goal could be obtaining a degree from a four-year college, or getting a promotion at a particular company, or starting a family, or traveling to a new country every year. 

Another common objective that is part of the American dream is owning property. Property can be a huge asset. It may serve as your primary home, but it could also be a business venture to bring in additional income. 

Unfortunately, buying property can be expensive. The real estate market in the United States is huge, and even in Arizona, you need significant resources to be able to own residential or commercial property. To help you accomplish your goals, here are some tips to help you afford property in the Grand Canyon State.

Consolidate Your Debt

Building up your savings is necessary if you want to afford a down payment on property. The biggest inhibitor to your ability to save money is probably debt. Whether you owe money for student loans, car payments, or credit cards, this debt will significantly affect your path to property ownership. Paying down this debt as quickly and consistently as possible will improve your savings and increase your credit score, which helps make mortgages more affordable. Focus on the higher-interest debts first, such as credit cards and student loans. When you have additional cash to use, put it toward those principals. Lenders will analyze your debt to evaluate risk, so decreasing it will improve your chances of being approved. 

Choose the Right Real Estate Market

Throughout Arizona, there are hundreds of different real estate markets. Their location directly impacts the price of properties in the area. For example, the cost of living in Scottsdale is higher on average, so homes and commercial properties tend to cost a bit more. If affordability is an obstacle for your goals, then you may need to check markets that are smaller or have a less competitive real estate sector. This will yield lower prices on properties that could cost hundreds of thousands of dollars more in a bigger market like Scottsdale. 

Select the Best Financing Product

Few buyers can afford to pay the full price of a property upfront. If you are trying to purchase a home, then you will likely turn to conventional home loans to complete the transaction. A FHA loan or USDA loan is available to lower-income borrowers who do not have a great credit score. A VA loan is useful for veterans, active military, or surviving spouses to significantly lower the cost of a home. If you are choosing to invest in a rental property, then a DSCR loan in Arizona can be approved based on a down payment and the projected rental income of a property versus its total expenses. For a commercial property, you could potentially get a SBA loan to help your business buy a building to use as its base of operations. Affording property all comes down to choosing a financing plan that suits your situation. 

Browse Comparable Properties

Negotiation is a key phase of all real estate transactions. Sellers want to get as much as possible for their properties and buyers want to get a great deal. There may be a bit of back and forth before a price is agreed on. One strategy to help negotiate down what you believe is a high price is to look for comparable properties in the same market. Compare the amenities that each of these listings offers and see if they match your interests. If the price is much higher than the others, make this known to the seller as to why you want it for less than they are offering. You can also use the inspection report as leverage to drive down the cost if there are issues that will need to be addressed once you own the property.

Have a Cosigner

Maybe you have limited income or a poor credit score, but owning a home would get you out of the rent trap. If you cannot be approved for a loan due to these limitations, you could benefit from a cosigner. This person’s stronger financial situation will help the loan get approved while you are still responsible as the owner of the property. The danger to the cosigner is that they will be held liable if you miss payments. 

Property in Arizona Can Propel You Toward Your Goals

Whether your goals are to own a home, raise a family, build a business, or retire more comfortably, owning property may be a big part of those objectives. Since property can be very expensive, no matter where in Arizona you are looking, it is crucial that you understand these strategies to make affordability more realistic.

Desert Ridge Aviano Market Update July 2023

Desert Ridge Aviano Market Update July 2023

Desert Ridge Aviano Market Update July 2023

 

The Aviano at Desert Ridge real estate market has been active in recent months, with a healthy number of home sales and a stable pricing trend. Here’s an overview of the recent home sales and prices per square foot for both active listings and sold properties in Aviano at Desert Ridge.

Recent Home Sales: Over the past few months, there have been several closed listings in Aviano at Desert Ridge. Here are some notable recent closings:

  1. 3649 E Sands Dr
    • 5 beds, 3.5 baths, 3,699 sqft
    • Closed on 06/20/2023 for $1,165,000
    • List Price to Sale Price Ratio: 301.43 / 314.95
    • Active Days on Market (ADOM): 33
    • Cumulative Days on Market (CDOM): 33
  2. 3824 E Expedition Way
    • 6 beds, 6.5 baths, 6,850 sqft
    • Closed on 05/18/2023 for $1,580,960
    • List Price to Sale Price Ratio: 244.53 / 230.8
    • ADOM: 17
    • CDOM: 17
  3. 22823 N 38th Way
    • 5 beds, 3.5 baths, 3,585 sqft
    • Closed on 04/10/2023 for $1,160,000
    • List Price to Sale Price Ratio: 327.75 / 323.57
    • ADOM: 47
    • CDOM: 25

Please note that the above sales data represents a sample of recent closings in Aviano at Desert Ridge, and it’s advisable to consult with a real estate professional for a comprehensive list of all closed listings and their details.

Prices per Square Foot for Active Listings: Currently, there are 3 active listings in Aviano at Desert Ridge. The prices per square foot for these listings range from $270 to $300. It’s important to note that the actual sale price may vary based on factors such as the property’s condition, location within the community, and additional features.

Prices per Square Foot for Sold Properties: The recent closed listings in Aviano at Desert Ridge have shown varying prices per square foot. The average price per square foot for sold properties in the past few months has been approximately $280. However, it’s crucial to consider that individual property characteristics and recent market conditions can significantly impact the actual prices per square foot.

Market Outlook: Aviano at Desert Ridge continues to be an attractive community for buyers looking for a desirable location in the Phoenix area. The neighborhood’s well-maintained properties, amenities, and proximity to shopping, dining, and entertainment options contribute to its popularity.

As with any real estate market, Aviano at Desert Ridge is subject to fluctuations based on various factors, including supply and demand dynamics, interest rates, and the overall state of the economy. It’s advisable for both buyers and sellers to consult with a real estate professional who can provide up-to-date market insights and guidance tailored to their specific needs.

Please note that the information provided above is based on the most recent data available, and the market conditions may have changed since this update. It’s always recommended to consult with a local real estate agent for the most accurate and current information regarding Aviano at Desert Ridge’s real estate market.

Desert Ridge Estates Coming Soon

Desert Ridge Estates Coming Soon

Desert Ridge Estates Coming Soon

 

Desert Ridge Estates, located in Phoenix, Arizona, is an exciting new residential development by Oasis Builders that promises a luxurious living experience amidst the natural beauty of the Sonoran Desert. With meticulous attention to detail, these homes offer modern designs, high-end finishes, and a range of amenities, making Desert Ridge Estates an exceptional place to call home.

Desert Ridge Estates will feature a collection of 150 single-family homes, thoughtfully designed to cater to the needs of contemporary living. These homes will range in size from 2,500 to 4,000 square feet, providing ample space for comfortable family living. With open floor plans and an emphasis on natural light, these homes will create a welcoming and inviting atmosphere for residents and their guests.

The architectural styles within Desert Ridge Estates will showcase a blend of modern and desert-inspired designs, harmonizing with the surrounding natural environment. Each home will boast high-quality craftsmanship and premium materials, reflecting a commitment to excellence and longevity.

Residents of Desert Ridge Estates will have access to an array of amenities designed to enhance their lifestyle. The community will feature a clubhouse where neighbors can gather, socialize, and participate in community events. Additionally, a sparkling community pool will provide a refreshing escape during the warm Arizona summers. Residents can also enjoy leisurely walks along well-maintained walking trails, connecting them to the beauty of the desert landscape.

Beyond the community itself, Desert Ridge Estates benefits from its prime location in Phoenix. This vibrant city offers a wealth of recreational, cultural, and entertainment options. Residents can explore nearby golf courses, indulge in shopping at upscale malls, or discover the diverse culinary scene with a variety of restaurants and cafes.

With its excellent schools, healthcare facilities, and convenient access to major highways, Desert Ridge Estates provides residents with the ideal balance of tranquility and accessibility. The community is committed to creating a strong sense of community and fostering a safe and inclusive environment for all residents.

In summary, Desert Ridge Estates in Phoenix presents an extraordinary opportunity to reside in an exquisite new development. With its thoughtfully designed homes, luxurious amenities, and breathtaking surroundings, Desert Ridge Estates offers an exceptional living experience in one of Arizona’s most desirable locations.

Keller Williams, 72SOLD form strategic partnership

Keller Williams, 72SOLD form strategic partnership

Just Announced..

Keller Williams, 72SOLD form strategic partnership

 

Keller Williams, the world’s largest real estate franchise by agent count, has entered a strategic partnership with 72SOLD, the leading home selling program in America.

Founded by Greg Hague, an Arizona-based attorney and real estate broker, 72SOLD has an advanced home sale process that is more convenient for sellers, increases their sale price and provides more control over closing and move dates.

Through the partnership, Keller Williams agents across the U.S. and its international regions will gain access to the 72SOLD program.

“We’re excited to partner with Greg and the 72SOLD team, which has systematized a home sale model that delivers, driving a powerful experience and strong results for home sellers,” said Gary Keller, executive chairman, kwx, an integrated home experience company. “With this partnership, our agents have the opportunity to further scale and fuel their success.”

Since 2020, more than 8,900 homes have been sold using the 72SOLD program. On average, sellers who used this program had a median sale price 10.9% above the MLS median, according to 72SOLD.

“Partnering with Gary and Keller Williams is the opportunity you dream for,” said Greg Hague, founder, 72SOLD. “We currently dominate the Phoenix, Arizona market and the demand for 72SOLD services has expanded rapidly across Arizona and a multitude of U.S. states.”

“And, to fully embrace opportunity, we’re partnered with KW to rapidly scale our offering across the globe,” said Hague.

72SOLD is headquartered in Scottsdale, Arizona, and its services are available to consumers to date through more than 500 local cross-industry real estate agents in 38 U.S. states.

Austin, Texas-based Keller Williams has more than 1,100 offices and 200,000 associates. The franchise is also No. 1 in units and sales volume in the United States.

Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders.

Visit kwx.kw.com.

72SOLD developed a new, more advanced way to sell a home that maximizes competition among buyers and creates an atmosphere of scarcity, fear of loss and opportunity to enhance a home’s sale price over the traditional method. The program also eliminates the inconvenience of daily showings, and gives sellers more control over their closing and move dates. 72SOLD’s home selling program has been featured on ABC, CBS, and NBC News, showcased in Forbes and received several U.S. trademarks.

Visit 72SOLD.com.

For the full article go to: https://yourvalley.net/stories/keller-williams-72sold-form-strategic-partnership,307884

4 Tips for a New Homeowner

4 Tips for a New Homeowner

4 Tips for a New Homeowner

 

Oftentimes, the excitement of becoming a new homeowner results in a person losing a bit of focus on some important issues surrounding early days in a new residence. This is a perfectly understandable situation. In the end, owning a home is a significant personal achievement and likely the most important financial investment a person makes during the course of a lifetime. As a result, there are four tips a new homeowner needs to bear in mind.

 

Don’t Break the Bank to Personalize the Premises

When you move into a new home say in Scottsdale, you naturally may want to make changes to the property. This is likely the case even if you move into a new build. This natural tendency can result in unnecessary and even dangerous overspending.

By the time you take occupancy of a residence, you’ve already spent money on a down payment and other expenses. You likely are not in a financial position that you can embark on a course of additional significant spending.

Thus, you need to pay close attention to the bottom line when it comes to a desire to personalize and make changes to your new home. You can personalize and make alterations to your home over time and in increments.

 

Stay on Top of Vital Maintenance

Although you need to maintain some control over personalization and improvements when you initially move into a new residence, you cannot ignore maintenance issues. If you’ve rented in the past, you no loner have a landlord or property manager that is responsible for tending to maintenance issues. You need to make certain that you include money in your monthly budget to be set aside for use when a maintenance issue arises.

 

Hire Experienced Contractors

Unless you are an experienced “do-it-yourselfer,” don’t embark on home improvement projects on your own and without the assistance of experienced, qualified contractors. Shop around and get multiple estimates for a project; you will find that there can be significant price differences from one contractor to another for the same work. You will also want to undertake thorough due diligence to ensure that a particular contractor is duly licensed, bonded, and insured.

 

Seek Professional Tax Assistance

Your tax situation changes when you become a homeowner. As a consequence, you should seriously consider engaging the services of a tax preparation specialist to assist you with your tax return after you do become a homeowner.

3 New Downtown Phoenix Developments

3 New Downtown Phoenix Developments

The Phoenix housing market is booming right now. In the past year, home values have increased by 7.5%, and they’re predicted to rise by a further 5.4% over the coming year. As a result, an increasing number of individuals are flocking to the city and it’s now the 5th most populous city in the whole country. This has led to Downtown Phoenix primarily focusing on developing affordable housing for the nation. But which new developments promise to offer Downtown Phoenix habitants the most for their money?

Broadstone Roosevelt Row

One of Downtown Phoenix’s newest developments is Broadstone Roosevelt Row. The development consists of more than 300 apartments which sell for an average of $266,000 each or can be rented for between $1,400 and $1,800. Each unit benefits from its own balcony, air conditioning, granite countertops, and walk-in closets among other things. And even if you’re an existing Downtown Phoenix homeowner you can benefit from such amenities. By tapping into the equity in your home, you’ll have access to the funds required to upgrade your existing property. Meanwhile, older homeowners can utilize a reverse mortgage to get their hands on the cash. This is ideal if you’ve just moved into a property in the area or you’re wanting to increase the value of your home before putting it on the market.

The Stewart

Situated along Central Avenue, The Stewart is an impressive 19-story family complex, consisting of luxury studio, 1-bed, and 2-bed apartments. Each apartment is packed full of modern features, including quartz countertops, energy-efficient expansive windows, ceiling fans, and pendant lighting. Meanwhile, the onsite amenities include a rooftop pool, skyline views, and a fitness center. The Stewart officially opened on May, 22 and interested parties can expect to pay upwards of $1,400 per month to rent one of the development’s elusive apartments.

Block 23

Unlike The Stewart, Block 23 is still undergoing development and is set for completion by the end of 2019. The development will consist of around 330 apartments, with parking, offices, restaurant, and a grocery store set to complete the construction. There’s no word as of yet regarding how much apartments in Block 23 will go for, although it’s fair to say that they’ll fall within the Phoenix average of between $1,275 and $1,482.

The new developments going up in Downtown Phoenix have created a whole host of new accommodation options for locals. And while these exciting new apartments are great for the local housing market, it’s important to note that there are other great properties in the area which should be considered too.

If you are looking for a loft in the Phoenix area Andrew with The Holm Group is here to assist you. Feel free to call at 480-206-4265 with any questions. The Holm Grouprepresents both buyers and sellers throughout Phoenix and the surrounding cities. Whether it’s a loft, custom home, luxury home, or a single family home you can rely on The Holm Group to ensure a smooth and successful transaction. Remove the stress from buying or selling and let The Holm Group assist you today.