Mesa AZ Real Estate Archives - Apache Wells Realty

Buying vs Renting Real Estate: Which is Right for You?

December 2, 2015 by Susan Celano Leave a Comment

Buying vs, Renting Real Estate: Which choice is right for you?

When it comes to Buying vs. Renting Real Estate everyone has heard the old line that renting is just throwing away money. But is buying really better than renting in all situations? The answer to this question depends heavily on individual reasoning, financial situation, and short-term and long-term goals. As an Arizona Real Estate qualified buyer’s agent, let’s break down some of these questions and find out if real estate is right for you.

Finances
The first thing to look at is pretty simple: Can you afford to buy a house? No matter how good a deal you find or how much property values are rising in your area, it just won’t be possible to buy a house if you’re already overloaded with credit card debt or can’t scrape together enough money for closing costs. While banks will often work with buyers to help them get adequate financing, it’s often a good idea to rent for a couple of years while you sort out any messy financial situations.

Additionally, understanding the various aspects of the lending process; what documents will need to be in order, what are acceptable debt to income ratios, what types of loans are available to you, and what dollar range can you be approved for are all part of the home buying process. Often times speaking with a mortgage professional can help you to determine your qualification status by completing a mortgage pre-qualification. Having the expertise of a knowledgeable real estate agent on your side can help you to prepare for the home buying process even if you are not yet able or ready to buy. [Read more…]

4 Arizona Real Estate Pricing Mistakes You Can’t Afford to Make

September 1, 2015 by Susan Celano Leave a Comment

Top 4 Most Common Real Estate Pricing Mistakes

4 Arizona Real Estate Pricing Mistakes You Can’t Afford to Make

When selling Real Estate, there are many factors to consider; Can I afford to sell? What is my home worth? How do I attract the right buyers? If I sell, what are my next steps? These are all important questions to answer BEFORE the home ever goes on the market. As an Arizona Realtor we have seen our fair share of market peaks and valleys. Some of the most common concerns Sellers have are in regard to the listing price of their home. Selecting the wrong listing price can negatively affect how you answer those critical questions, just as selecting the correct list price will make your life a whole lot easier. Here are 4 Arizona Real Estate Pricing Mistakes You Can’t Afford To Make.

Phoenix’s East Valley and the Arizona real estate market has had its ups and downs in the past 20 years. Starting in the late 1990’s and continuing until the 2008 market crash, the population of the East Valley, and the average price of East Valley real estate, rose steadily. For example, the population of Mesa rose nearly 4 percent between 2000 and 2008, and Mesa AZ real estate prices were at record highs when the crash occurred.

After 2008, the Arizona real estate market took a huge hit to its property values. East Valley home values dramatically dropped, in some cases by half. The area has made strides to recover, driven by the fact that the East Valley is still just a great place to live. But many homeowners continue to be frustrated with the value of their East Valley real estate.

Sellers entering the Arizona real estate market today have to be vigilant when it comes to pricing. Mortgage requirements remain strict, and qualified buyers have many options. It’s important to trust a qualified seller’s agent to price your home, to help you avoid the 4 pricing mistakes causing some East Valley sellers to have trouble selling their home.

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The Top 10 Projects to Increase Your Home Value in Arizona

June 24, 2015 by Susan Celano Leave a Comment

The Top 10 Projects to Increase Your Home Value in Arizona:

Your house might be the ideal place for you to live in but adding value to it with the help of remodeling can be helpful if you need a grasping selling price. You might need to sell your house someday and you will need some attractive features in your house that will attract the buyers you want.

As a general rule, the more you direct yourself towards adding a personal style [keeping in mind a general lifestyle], the more likely you will be able to select the correct target market for whom the remodel will provide the greatest benefit. Moreover, keeping your eyes on the return on investment (ROI); trying to maximize it by selecting the areas of the home with the greatest value added benefits to the buyer, and baring in mind that the ROI may not always be positive, it is important to minimize your risk any time you make improvements to your home.

As a Real Estate Agent, I often get questions from sellers regarding which areas of the home to remodel which will provide the greatest value when selling. While this is not always as cut-and-dry as it might seem, there are a few options which historically provide the greatest likelihood of return. To start off, lets ponder a little over the 10 most feasible home improvement projects that can be done which give the best results and a better selling price.

Looking at this info graphic, you can see that the added value for these 10 upgrades can provide a significant return on your sale’s price. By adding a new front door [preferably one that has a half glass 20 gauge steel] it will cost you approximately $1137 with a resale [added] value of about $974. This means that you will realize a recouped cost of up to 85.06%. In the mean time you’ll have the added benefit of a lower maintenance steel door which would be much easier to maintain than a wooden one.

If you have a garage your focus should be on revamping the garage door rather than the whole space. To give the home a nice curb appeal, repaint the street facing garage door or add a new one instead. You can install a four or two section garage door with an automated door opener for a cost of about $1496. However, it will offer a resale value of $1132. The payback is an astounding 75.7%.

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