portland park condos in Phoenix, AZ

What’s Driving the Condo-Building Frenzy in Phoenix?

Phoenix is seeing a boom in housing construction, but this is taking the form of condos, lofts, and townhomes. In fact, the ratio of shared housing developments to single family homes is stunning, with the shared dwellings surpassing SFHs (single family homes) easily.

The Phoenix metropolitan area is growing at a staggering rate; while the city used to be known for having the highest amount of vacant space back in 1997, it’s now seeing that land filled with more and more complexes, sparking bidding wars and fast speculation. Even older buildings that are somewhat decrepit are being bought out and either remodelled or replaced.

Read more about the condo building frenzy in Phoenix.

phoenix property management

How to Hire a Phoenix Vacation Rental Property Management Company

It is always a smart move to consider hiring a rental property management company to assist you with your vacation rental. Even though most home owners will be comfortable letting their family members or friends handle the details, a hired qualified manager offers much more. You can be assured that your guests as well as your investment are always in good hands. However, the problem is always finding the right rental property manager to hire. Below are several tips that you can use to ensure that you get the best rental property manager company available in Phoenix, AZ.

Search Online And Check Reviews

The first place to look is to do a search online using search phrases like “property management phoenix” or even “property management scottsdale” if you need to search in other areas of the Phoenix Metropolitan area. These companies will have experience dealing with the Phoenix market and will know it better than even yourself. The top results will have reviews posted online for sites like Google+ Local or even Yelp. Read those carefully and call the top three or five that you feel have the best reviews and best information on their website.

How Long Have They Been In Business?

The first thing that you need to know is how long the company has been operating in Phoenix, AZ. This is important as it tells you the level of understanding that they have in the local market. There is a big difference between a recently started company and one that has been in the market for several decades. You should ask about the staff size, local regulations, seasonality and any other factors that can affect the performance of your property.

What Are Their Rates?

You will also have to find out about the charges and contract terms of the company. In most cases, vacation rental apartments will charge between 30% and 50% of the nightly rental rate to get a full service manager. This is a significance portion of your rental income. You should therefore ensure that you know how long you will be bound to the contract with the management company, this ranges between 6 months and 12 months. You should choose one which you are comfortable with. If you do not want to get locked in by the contract, you should ask the manager to include an out clause that will depend on the performance of the property.

Find Out About All Of Their Services

You should never assume that the property manager will sort everything. This is why you have to get a full list of all the services offered and their fees. This way you will ensure that you get the services that you need including repairs, check-ins, maintenance and walkthroughs. The best vacation property management companies are always willing to service all types of guests. This is especially the case when you are hiring them for on-the-ground tasks only. You have to clarify this from the beginning to ensure that you have a flexible and service-oriented person working for you.

What Resources Does The Property Management Company Have

It is crucial that you hire a property manager with all the necessary resources required to market and book your vacation rental. They should be able to cover the cost of having your home listed on some of the top Scottsdale vacation house rental management websites. Their staff should also be able to respond to inquiries as soon as possible. The website that they use should be mobile friendly and allow different modes of payment when customers want to book the rentals. You will also want a property management company that frequently updates you on your property condition. This will depend on how often they perform the walkthroughs. You should consider talking to some of their current and previous clients to get an idea of how the company operates. This way you can be assured of finding a solid Phoenix property manager for your rentals.

my phoenix rental home

Property Management Services for Vacation Homes

vacation home managementFor many landlords and landladies, a property management company that can offer them great services and lessening the hassle to rent the property, particularly vacation homes. Basically, there are quite many benefits of hiring such company to manage your vacation rental home in Phoenix AZ. Here are some of those benefits:

Reduced tax stress

In Phoenix, rental incomes need to be reported just like a trade or business does, with every payment made to gardeners, plumbers, accountants, decorators and other involved contractors requiring information return to IRS. A property management company can deal with most of this annoying paperwork for their clients (landlords) and/or keep some meticulous records, which helps you have accurate, up-to-date tax fillings and also avoid any fines.

Convenience

Being a property owner, especially a landlord means managing the tenant details, the physical property and other personal and business concerns. Hiring a good property management company to care of these things can save you a lot of work and expenses, this will result in fewer anxiety and headaches and a higher return on investment.

Proximity

map of arizonaThis is another advantage of having someone take care of your rental property, especially when living away from its location. A local property management company in Phoenix will have quicker access to your rental properties, saving you the effort and time of going there yourself, particularly if you live out of the city. For instance, these companies will perform or recruit others to perform regular repair and maintenance to your property. This helps prevent further damage, hence saving you unnecessary expenses. These professionals will also be the frontline in case of occurrence of an accident or any act of nature that damage your rental home.

Long term savings

The vigilance of a property management company that keeps your tenants and property under scrutiny assures that you will get the best out of both. They are there to make sure any slightest issue in your property is dealt with while small; for instance, plumbing repairs and bathroom renovations can save you from huge expenses over time.

Tenant interface

These companies can also perform a task, which several property owners would rather avoid; dealing directly with their tenants. These companies have a group of professionals who handle maintenance calls and issues, field all complaints and most importantly collect rent. Since you hire them to interface closely with your property and its tenants, they can quickly identify any issues with lease violations or late payment so that the appropriate action can be taken quickly.

In a nutshell, apart from these benefits of hiring a property management company in Phoenix to manage your property, there is also much more that comes with these agents.

If you are curious about what property management services include, this video from Ascent Property Management (http://ww1.ascentpm.com/) will answer all your questions. read more..

mortgage broker for phoenix home buying

Why You Should Use a Mortgage Broker To Buy Real Estate

A mortgage broker could be one of the best types of people that you could ever hire when it comes to taking a look at real estate in Phoenix. A broker is a person that will broker a mortgage loan on your behalf and provide this to a mortgage lender or bank. It’s all with the intention of trying to give you the most favorable rates that you could ever hold. This is a great advantage in its own right but there are many other advantages that come with hiring such a person for your demands.

Get the Best Advice

A mortgage broker is not going to try and steer you towards one particular lender or bank. That broker will give you the advice that you could use when trying to find out if someone is worth doing business with and if that person has the right rates for your situation. It’s all about finding a choice that suits your needs the most regardless of what you might have a desire for.

Get Better Rates

Since a broker is not directly affiliated with any lender, that person can quickly negotiate plans to get rates that are in your favor. You might find after a while that a rate from a broker’s services could be better than what you might get on your own.

The Broker Is Paid By a Lender

You don’t have to pay money for a lender’s services. Instead, the broker will be paid by the lender as a result of facilitating the origination of a new loan. In addition, brokers tend to be paid the same amounts by all lenders and brokers based on the values of the properties they facilitate, thus ensuring that the broker will not be biased towards one provider that might pay a little more money for getting a sale facilitated.

It Works For All

Mortgage brokers work hard with negotiations because they understand that every person has their own particular needs with regards to their credit. In particular, a broker may provide you with options that are appropriate for your demands even if you have bad credit. More importantly, your broker will adjust one’s strategies for providing you with a good deal based upon the credit history that you hold. This should really give you more out of your demands for finding a good loan.

Make sure you look around with the assistance of a mortgage broker like the Community Lending Centre when buying real estate. This is a free service to have so you will have nothing to lose.

stage your home with house cleaning

Stage Your Home For Selling By Having it Professionally Cleaned

Anyone who has bought a home before can tell you, that you can go through dozens of homes seemingly looking at the same thing, until eventually you see the house that makes you say “This is it. This feels like home.”

And from the other side, anyone who has sold their home knows that the ordeal can be frustrating to try and hope that someone feels that way about entering your house and wanting to write up an offer for purchase!

First Impression is Very Important When Selling

So what sorts of things can you do to try and better position your home for sale? Well, obviously there is the usual stuff like keep the beds tidy, turn on some lights and leave the cat with a friend or family member. However, something that is often overlooked is the general cleanliness of your home, which is going to be the new buyers first impression.

Have you ever noticed when you go to a friend’s house, that there home a distinct smell, one that can be good, bad or indifferent? Well, you generally won’t notice what your own home smells like, but visitors sure will!

The selling process can be stressful enough with having to determine where you want to move, line up financing, timing of the sale and purchase, packing, the list goes on. Why not alleviate some of your burdens and hire a professional house cleaning company?

Getting your house professionally cleaned in an effort to stage it for sale is not only something that saves you the time in doing it, but it also changes the buyers perception when they enter your home. They are more likely to find themselves immediately being warmer about your home when they come through the door and have a clean, fresh smell.

A House Cleaning Company May See and Smell Things You Don’t

House cleaners can sometimes be more observant about your home as well when passing through the home and being your own front-line maintenance team. From pointing out chipped paint to needing to grout the bathroom shower stall, they will generally be able to find some imperfections in the home that are minor, but can change a buyers first impression when touring through your home.

Even if you are a good house cleaner and take good care of your home, there are areas that you may neglect without even knowing it. That cobweb that you’ve ignored and no longer noticed in the lighting fixture can be removed with the expert care of a professional. They will even get into scrubbing the corners of your tile flooring and baseboards, again, taking the level of deep clean up a notch higher than most people do when cleaning their own home.

Buying a new home should be exciting and a fun thing for you and your family! Ignore the messy parts of scrubbing toilets and walls, and leave that to a professional house cleaning company to make your house shine when it’s ready to hit the market.

real estate seo phoenix

Importance of SEO to Realtors in Phoenix

You might have heard about the term SEO and don’t know how it can be used to promote your real estate business here in Phoenix. If you are a realtor, you will start seeing your efforts to acquire more clients paying off by having them find you online. The cost of using this form of marketing is cheap and you can try various methods of SEO.

You Do Need to Be Careful With SEO

It’s important to note that you should be careful when choosing the methods of SEO you use to boost your site’s ranking with search engine optimization. There are some techniques that, if used, can cause the negative effect on your search engine pages. There are many people who have had very good strategies that would have landed them on the top at the search engines but fail due to adding poor methods of SEO. The search engines have become more serious when it comes to ranking pages.

Below are some of the importance of using SEO (click here for more). The results can be seen after implementing the SEO plan. You will start having more visitors and increase your chances of closing the next deal.

Build Your Brand

search engine optimizationSEO can be used to build a brand for your business. If a person searches ‘real estate’ and ‘Phoenix’, the goal will be to have your webpage appear in search results. The first impression of the person searching is that the pages appearing first will be the best. This will make them start trusting the brand and will believe you will deliver. The customers can also view the services offered by the real estate company. They will also be able to learn more about your real estate firm or practice.

Snowbirds Looking for Homes May Find You

People who live thousands of miles away, including those snowbirds from the north or even Canada, can find you and learn more about the firm. There are many people who want to buy a property but they are not physically present in that location. If the person searches for the real estate firms in that location, he/she will likely find your company. This can translate later to a sale.

Using SEO as a tool for marketing will save you costs. There is a chance you are spending a lot of money on marketing, but you don’t see the results you expected. With SEO, you are sure the visitors are interested in what you are offering. This means the cost of acquiring a customer is much cheaper than other forms of marketing.

Using SEO as a marketing tool has become very popular because it is easy and cheap. If you don’t know anything about SEO, you don’t have to worry because you can use the services of an SEO agency here in Phoenix or anywhere, for that matter.

phoenix real estate by fulton homes

Has the Real Estate Market Recovery Driven Canadian Buyers from Phoenix?

Photo courtesy of Fulton Homes

The greater Phoenix real estate market has begin to show signs of improvement after several down years in the wake of the 2009 financial crisis. An improvement in the labour market and unemployment, coupled with the boom of oil production throughout the United States has left many of the markets that were deeply affected showing signs of recovery in real estate property values.

So does this mean an end to the influx in capital from investors north of the border in Canada looking for properties south of the border? In regions such as California, Nevada, cities across the greater Phoenix region, and into Florida, buyers found the strength of the Canadian dollar, and value on American home prices to be too good to pass up. This led to countless deals on foreclosed and short sale homes as many looked for investments to hold and sell, or to vacation to in the frigid Canadian winters.

A Noticeable Decline In Real Estate Purchasing

Speaking to a Maple Ridge Real Estate agent Kris Mugridge, Partner of The Cardas Mugridge Group, says many of his buyers have noticed a decline in interest south of the border.

“There was once a point that many could get into the market and find condos and small homes from $40-$50,000, and that seems to now have passed. Many of these once troubled markets have begun to show signs of recovery and values have bounced back, making the price less attractive to get into the market.”

In real estate markets like Vancouver, BC, the average price for a single family home is in the ranks of Tokyo, Hong Kong, London and New York city, making for one of the least affordable North American markets.

“On paper, there is certainly lots of appeal in buying a property south of the border within only a few hours flight away, however, the US market doesn’t appeal to most of my clients as it maybe once had” notes Mugridge.

Why Are There Less “Snowbird” Home Buyers Now?

So what caused this shift if prices are still significantly below that of a typical Canadian market?

  1. Tax regulations make it difficult to navigate clearly. Coupled with estate planning, it can be challenging to confidently sink significant amounts of capital into a foreign market. Often it means having to find a new accountant familiar with the US tax system, which may not be easy for most to find.
  2. Health care costs. The typical snowbird purchasing a secondary property is over the age of 50. Health insurance abroad from home markets can be quite expensive, and is a cost that must be considered if one decides to make frequent trips. Speaking with one Canadian who had property in a Scottsdale RV Park, he noted he had to return home to step foot in Canada every few months to get a better deal on travel medical insurance. Not exactly a practical vacation!
  3. Maintenance costs. Managing plumbing, heating, air conditioning, landscaping, and the rest of the upkeep around one home is hard enough. Doubling it to a second home doesn’t become any easier! Foreign investors need to be cautious about working on their own properties as well, as immigration rules have heavy restrictions on what a foreigner can and cannot do while in the country.
  4. Travel time and cost. As more low-cost carriers have begun entering many markets, driving down most airfare prices, air travel still remains a significant expense for many travellers. Furthermore, as owners get older and mobility issues begin setting in, it can become all the more challenging to endure the flights that you maybe once had as a young individual!

Although it may be easy for a buyer to browse Maple Ridge MLS listings and be envious of a US Real Estate market like greater Phoenix, there are certainly more things to be concerned with than the cost of purchasing when it comes to buying that next property.

Reasons Why You Should Invest In Phoenix, AZ Real Estate

Featured photo by DPPed (Own work) [CC-BY-SA-3.0], via Wikimedia Commons

The real estate market is one of the best investment choices especially for realtors wishing to invest around Phoenix, Arizona. The real estate market collapse was indeed a blessing in disguise for Phoenix, the boomer region that has seen an upsurge in real estate profits ever since. Other than the excellent home value, many investors prefer Phoenix for many reasons. Here are some of the reasons why many people turn to Phoenix and why investing in the city is a great idea.

Snowbirds Invade Phoenix in the Winter Months

Snowbirds or retirees who prefer spending the cold winter days in warm and pleasant weather mostly choose Phoenix. This provides a great demand for properties to rent and buy, which is why you should be among those benefiting from this market. Such people look for the most prime property and are ready to pay $20,000 for homes near resorts and other luxury amenities. There are therefore pleasant returns for investors who can get anything from 9-12% annually.

A Fast Growing Population

Phoenix population is growing fast as the economy diversifies, making real estate a smart investment choice. The fact that there are great job opportunities including top institutions such as Arizona State University makes Phoenix a magnet for career people. So why not use this moment to multiply your revenue through investing in real estate to house the massive population?

Natural Resources

Phoenix, AZ has a rich real estate potential considering its wealth of natural resources that make people want to live there. The South Mountain Park and botanical gardens like Desert Garden attract new dwellers to the area every year. Investing in such an area is great as there will be plenty fun activities that residents can engage in and this is definitely a great selling point. Regular visitors prefer buying real estate to use when they are in the area and rent it out for the rest of the year.

Lots of Sun

Phoenix boasts 320 years of splendid sun in a year, making it an ideal destination for ardent golfers. People dream of setting up home in phoenix because then they can enjoy unlimited golf at world famous courses like Superstition Springs Golf Club and Arizona Baltimore Adobe. Besides golf, other sports enthusiasts like to buy real estate in the area because then they will share homes with major teams like Cardinals Football Team, Phoenix Coyotes Ice Hockey team and the Phoenix Mercury Women’s’ NBA team to mention but a few.

Phoenix is the Hot Spot for Real Estate

People are constantly looking to live in Phoenix for the great sunny weather as statistics show the area as one where real estate properties never sit empty for long. This is why every potential investor seeks property in the area rich with foreclosure properties that every investor would love.

Phoenix, AZ is ideally the real estate hot spot of Southwestern U.S but benefits certainly do not come without sheer hard work. You have to prepare and parade your property in the best possible way to attract anyone seeking to buy. A good marketing strategy, choice of location and size of property are some ingredients for absolute success in the Phoenix real estate market that every investor must consider.