May 29, 2018

Verrado Homes For Sale | 5 Reasons Why to Sell This Summer!

Verrado Homes For Sale |  5 Reasons Why to Sell This Summer! 

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: 5 Reasons Why to Sell This Summer! 

 

Here are five reasons listing your home for sale this summer makes sense.

 

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

 

2. There Is Less Competition Now

Housing inventory has declined year-over-year for the last 35 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don't wait until this other inventory comes to market before you decide to sell.

 

3. The Process Will Be Quicker

Today's competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae's latest Origination Insights Report, the average time it took to close a loan was 41 days.

 

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer's market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 5.2% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

 

5. It's Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

 

Source.. KCM Cheryl Benjamin Blog



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If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don't hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate   

 

 

Posted in Verrado
May 22, 2018

Verrado Homes For Sale | How Current Interest Rates Can Have a High Impact on Your Purchasing Power

Verrado Homes For Sale | How Current Interest Rates Can Have a High Impact on Your Purchasing Power

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: How Current Interest Rates Can Have a High Impact on Your Purchasing Power

 

According to Freddie Mac's latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a home within the national median price range while keeping your principal and interest payments between $1,850-$1,900 a month.

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don't hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate   

 

 

Posted in Verrado
May 15, 2018

Verrado Homes For Sale | Access: An Important Factor in Getting Your House SOLD!

Verrado Homes For Sale | Access: An Important Factor in Getting Your House SOLD!

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: Access: An Important Factor in Getting Your House SOLD!

 

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

 

 1.- Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their       convenience.

 2.-Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little      delay in being able to show the home.

 3.-Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.

 4.-By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start      working in that area prior to purchasing their home. They often like to take advantage of free time during business hours     (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in     advance or may be unable to wait 48 hours to see the house.

 5.-Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) –      This is the most difficult way to be able to show your house to potential buyers.

 

With May proving to be the best month to sell your home, access can make or break your ability to get the price you are looking for, or even sell your house at all.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate   

 

 

Posted in Verrado
May 8, 2018

Verrado Homes For Sale | Home Inspections: What to Expect

Verrado Homes For Sale | Home Inspections: What to Expect

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: Home Inspections: What to Expect

 

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

 

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following 5 areas when choosing the right home inspector for you:

 

 1.- Qualifications – find out what's included in your inspection and if the age or location of your home may warrant specific        certifications or specialties.

 2.- Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home.        The more detailed the report, the better in most cases.

 3.- References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their        experiences.

 4.- Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these       groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued       training and education are provided.

 5.- Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The       inspector is only human after all, and it is possible that they might miss something they should have seen.

 

Ask your inspector if it's okay for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed.

Don't be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

 

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate   

 

 

Posted in Verrado
May 4, 2018

What You Need to Know about Arizona Property Tax

For homebuyers searching to purchase a home in Arizona, there are many facts they take into consideration before deciding. School districts, proximity to shopping and other neighborhood amenities are among those considerations. Homebuyers moving from out of state are attracted to our beautiful climate, outdoor activities, sports teams, variety of entertainment choices, and relatively low cost of housing. However, it’s a good idea to understand how Arizona property tax works so that you as a homebuyer can fully understand the financial commitment you’re entering when buying a home. Arizona Property Tax Loving Phoenix Team

Arizona Property Tax Guidelines

While you don’t need to commit property tax descriptions to memory, it’s a good idea to have an overall concept of what Arizona’s property taxes are and what they entail. The Arizona Department of Revenue provide several helpful manuals if you really want to dig deep into such matters, but overall, you simply need to have a clear understanding of what is considered a residential property and how taxes are assessed. 

How Homes Are Assessed

In Arizona, assessors use computerized systems to value single family residential property for property tax purposes. To accomplish this, they use both computer assisted appraisals and mass appraisals. Computer assisted appraisals are appraisals done in mass by a computer, which is much more efficient and accurate than individuals handling appraisals for tax purposes. They also leverage mass appraisals, which are essentially the systematic appraisal of groups of properties. Why is it important to understand both?  Because both are used when determining Arizona property tax. Mass appraisals are essentially fee appraisals, and both are used to determine overall property tax by determining the value of your home.

How Home Values are Determined in Arizona for Tax Purposes

There are two methods used by Arizona appraisers for placing a value on your home. One is replacement cost minus depreciation, and the other is sales analysis. Replacement cost minus depreciation is just that:  the cost to build your property today brand new. It looks at home size, materials used, features, and other construction costs. Then it takes into consideration of what a vacant lot would cost. Together, that’s replacement cost. Depreciation is wear and tear of the home, usually determined by appraisers such as age and damage of the home. They use depreciation tables to determine loss of value, then subtract that from the replacement cost. 

Sales analysis basically looks at similar properties in the area to determine the home value. An average price is determined looking at size, age of home, construction and material quality and overall condition, with some consideration given for the home’s individual qualities as well. While both methods are reliable, most single-family homes in Arizona are valued using the sales analysis. You can find out home your home’s value was assessed by contacting your County Assessor’s office but know that you typically won’t have a choice as to how your home is assessed.

Understanding how Property Tax in Arizona is Computed

Now that you understand how homes are assessed and appraised, now you can better understand how property tax in Arizona is computed. First, it’s important to understand that AZ property taxes for owner-occupied residences are based on assessed value, not market value. Homeowners typically believe it’s the market value that drives taxes, but that is incorrect. It’s also important to understand that the property tax rate varies depending on schools, utilities, water districts and bonds, so homeowners need to be aware of what the rate is for their area when purchasing a home. The average tax rate on homes in Arizona before exemptions and rebates usually lands between $12 and $13 per $100 of assessed value. You can find average property tax rates by county on the AZDOR site. The average effective tax rate in the state is 0.77%. If you live in another state or have ever researched property taxes in other states, you’ll quickly realize that ours is well below the national average!  Want more specifics on how to calculate your property tax rate?  There are several handy AZ property tax calculators out there to get a fair idea.

Why You Should Know Your Property Tax Before Buying

It’s important to understand property tax for several reasons including unanticipated reassessments or rate hikes, supplemental bills in the first year of ownership, and significantly higher taxes in the second and subsequent years of ownership. Homebuyers should contact the local assessor’s office to research their properties to get a full understanding of liability. While property taxes can’t be avoided, understanding how they work and what your anticipated property tax will be makes the buying process that much smoother!

If you are in the market to buy or sell a home in Glendale or any other Phoenix realty and want to know more about the process, give us a call at 623-206-9936. We’ll help you house hunt and find a property which best suits your wants and needs.

Posted in Buying
May 1, 2018

Verrado Homes For Sale | How Much Has Your Home Increased in Value Over the Last Year?

Verrado Homes For Sale | How Much Has Your Home Increased in Value Over the Last Year?

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: How Much Has Your Home Increased in Value Over the Last Year?

 

Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year.

CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.

The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from February 2017 to February 2018 (the latest data available).

It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor that determines how much your home has appreciated over the course of the last year.

Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.

 

Bottom Line

If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate    

 

 

Posted in Verrado
April 24, 2018

Verrado Homes For Sale | Thinking of Selling Your Home? Why You Need A Pro in Your Corner

Verrado Homes For Sale | Thinking of Selling Your Home? Why You Need A Pro in Your Corner

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: Thinking of Selling Your Home? Why You Need A Pro in Your Corner

 

With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.

Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

 

Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:

 

 * The buyer who wants the best deal possible

 * The buyer’s agent who solely represents the best interest of the buyer

 * The buyer’s attorney (in some parts of the country)

 * The home inspection companies, which work for the buyer and will almost always find some problems with the house

 * The termite company if there are challenges

 * The buyer’s lender if the structure of the mortgage requires the sellers’ participation

 * The appraiser if there is a question of value

 * The title company if there are challenges with certificates of occupancy (CO) or other permits

 * The town or municipality if you need to get the CO permits mentioned above

 * The buyer’s buyer in case there are challenges with the house your buyer is selling

 * Your bank in the case of a short sale

 

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Let’s get together and discuss all we can do to make the process easier for you.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate    

 

 

Posted in Verrado
April 17, 2018

Verrado Homes For Sale | Rising Prices Help You Build Your Family’s Wealth

Verrado Homes For Sale | Rising Prices Help You Build Your Family's Wealth

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: Rising Prices Help You Build Your Family's Wealth

 

Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

 

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home this January. If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?

 

Since the experts predict that home prices will increase by 5.0% in 2018, the young homeowners will have gained $12,500 in equity in just one year.

Over a five-year period, their equity will increase by over $48,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

 

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate    

 

 

Posted in Verrado
April 10, 2018

Verrado Homes For Sale | What Is Private Mortgage Insurance (PMI)?

Verrado Homes For Sale | What Is Private Mortgage Insurance (PMI)?

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: What Is Private Mortgage Insurance (PMI)?

 

When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

 

What is PMI?

Freddie Mac defines PMI as: 

“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%. 

Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.” 

 As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that: 

“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.”  

According to the National Association of Realtors, the average down payment for all buyers last year was 10%. For first-time buyers, that number dropped to 5%, while repeat buyers put down 14% (no doubt aided by the sale of their homes). This just goes to show that for a large number of buyers last year, PMI did not stop them from buying their dream homes. 

Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:

 

The larger the down payment you can make, the lower your monthly housing cost will be, but Freddie Mac urges you to remember:

“It’s no doubt an added cost, but it’s enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

 

Bottom Line

If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and help you make the best decision for you and your family.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate     

 

 

Posted in Verrado
April 3, 2018

Verrado | What Should You Look for In Your Real Estate Team?

Verrado | What Should You Look for In Your Real Estate Team?

 

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: What Should You Look for In Your Real Estate Team?

 

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender? 

The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market. 

As the financial guru Dave Ramsey advises: 

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. Ask your friends and family for recommendations of professionals they’ve worked with in the past and have had good experiences with. 

Look for members of your team who will be honest and trustworthy; after all, you will be trusting them to help you make one of the biggest financial decisions of your life. 

Whether this is your first or fifth time buying a home, you want to make sure that you have an agent who is going to have the tough conversations with you, not just the easy ones. If your offer isn’t accepted by the seller, or they think that there may be something wrong with the home that you’ve fallen in love with, you would rather know what they think than make a costly mistake. 

According to the Home Buyer and Seller Generational Trends Report: 

“Buyers from all generations primarily wanted their agent’s help to find the right home to purchase. Buyers were also looking for help to negotiate the terms of sale and to help with price negotiations.” Additionally, “Help understanding the purchase process was most beneficial to buyers 37 years and younger at 75 percent.” 

Look for someone to invest in your family’s future with you. You want an agent who isn’t focused on the transaction but is instead focused on helping you understand the process while helping you find your dream home.

 

Bottom Line

In this world of Google searches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need to know before you even know you need it.

 

Source.. KCM Cheryl Benjamin Blog

 

If you are looking to move to Verrado, allow us to help you find the perfect home, If you have any questions about Verrado, the schools, the amenities or the surrounding community, don’t hesitate to call on us at 623–206–9936    

We will be happy to help you.    

Our agents specialize in Verrado Real Estate    

 

 

Posted in Verrado