Putting More Equity in Your Pocket

The numbers are out, and the Phoenix Metro real estate market is going strong!  Sales are up 13.8% over last month and are 5.6% higher than last year’s sales.  Housing inventory numbers for new and total inventory were up, but inventory remains low with only a 2.43 month supply of homes. Home prices have also increased in the past year, with the average sales price up 5.6% and the median sales price up 6.3%. Days on market have continued to be consistent for the last quarter and is currently at 69 days on market.

For the first time in 2019, we saw a year-over-year gain in sales volume, the second highest sales volume on record.  Lower interest rates and higher loan limits are helping the market lift. Based on the current activity, we also expect strong sales numbers for May.

Another factor for a strong real estate market is that Phoenix was named as the top destination in the country according to a recently published Redfin Migration Report.  More than a third of people searching for homes last quarter were from out of town. Many are coming from California and expensive cities from other states, for our low cost of living and great weather.  This trend has been increasing thanks to strong job growth and major companies like Allstate, Intel, Boeing, Microsoft, & Facebook moving or expanding operations in the Phoenix Metro.

If you’re considering moving up or down, now is an opportune time to make that move. Let us show you how much more our 20+ years of experience will put in your pocket! Call us at 480-355-8645 or email Info@LocateArizonaHomes.com today!

Top 3 Allergen Hideaways

Most of us in Arizona suffer from allergies.  Here are some helpful tips to relax and enjoy your summer.

Itchy eyes, a runny nose, and constant sneezing can make it tough to relax and enjoy the summer, even in your own home. Here are some of the main places allergens are hiding and tips on how to get rid of them:

Carpets

Carpets are a common trap for an array of allergens like dust, pollen, and pet dander. If possible, replace carpets with tile or wood flooring. If that’s not an option, frequent vacuuming can help remove allergens. Use a vacuum with a microfilter vacuum bag, multilayer vacuum bag, or HEPA filter if possible. These variants trap more allergens than a regular vacuum.

Beds/Blankets

Fabrics like blankets and pillow covers are a haven for hidden allergens, so be sure to wash your bedding frequently. Hypoallergenic bedding is also available. Organic cotton and bamboo are two cost-effective options for sheets and pillow covers that can reduce the amount of spores, mites, and dander in your bedding.

Surfaces

Dust and pollen tend to settle on top of bookshelves, cabinets, and end tables. Frequent dusting will help cut down on these allergens. Replace the filters and clean the grates in your cooling and heating systems monthly to help minimize the amount of dust and pollen settling in your home.

As always, if we can be a resource to you for allergies, buying or selling feel free to contact us!

Call 480-355-8645 Or Email Us Info@LocateArizonaHomes.com

 

How Smart Home Devices = Potential Home Insurance Savings

If you are thinking about updating your home this summer? Discover ways you can protect your family and save time and money with smart devices. You’ll also find tips for clearing allergens out of your home and advice to help you pack your home for a stress-free move. If you’re still looking for your dream home, give me a call. I’ll help you find a home you’ll love!

Smart homes are now more accessible and powerful than ever before. You can run anything from a doorbell to a slow cooker with your phone. Surprisingly, this can do more than just save you time; it can save you money on your home insurance. These days, it’s not uncommon for insurance companies to offer discounts or premium reductions to homeowners who implement smart home devices. Some of the most common discounts go to those implementing technology that improves the safety, security, or energy management of your home.

Safety

Smart home devices can ensure your house and belongings are protected even when you’re not there. Systems and devices that monitor for burglary, flooding, carbon monoxide, or fire can limit the short and long-term risk to your house. Some insurance policies will take these smart monitoring systems into account and offer you a discount for the reduced risk.

Security

Homes with security systems in place are three times less likely to be burglarized, and many home insurance companies will offer premium credits, some up to 15 percent off your insurance rate, to those who take active steps to protect their home.

Energy Management

Smart energy-management technology can save you money in a couple different ways. First, you can lower your energy bill by remotely controlling your thermostats and lights. Second, you can use energy-management technology to provide backup power for appliances and electronics during power outages.

Let us know if we can point you in the right direction for “smart” device.

Call 480-355-8645 OR Email Us Info@LocateArizonaHomes.com

Welcome to 2204 E Spruce Drive, Chandler

Cozy corner house! Open floor plan, tiled throughout main living areas, inside washer/dryer included, ceiling fans throughout. Enjoy your private backyard and covered patio. Large master bedroom with full bathroom and laminate wood floors. Garage shelving. Low maintenance desert landscape. Security system can transfer to buyer.

For more information visit our website

Visit our website:  WWW.LocateArizonaHomes.com

Call 480-355-8645 Or Email Us Info@LocateArizonaHomes.com

Welcome to 1380 W Windsong St., Apache Junction

Not your standard Manufactured home. Custom-Newly Remodeled in 2013 with the Southwest feel. 2”x 6” walls with extra insulation and stucco outside walls (low utilities), and block retaining wall around entire foundation.

1296 SQFT Garage with 8 car bays, 12” concrete floor and 20′ x 20′ shop/storage, plus Carport that can be used for horse shade. Nice Kitchen with pantry, breakfast bar and Oak Cabinets.

Full length front porch added in 2017. Fenced backyard, Native landscape front, Australian trees, fruit trees, grape vines & bushes providing privacy with an Italian Garden feel. Sits on 1.25 Acres of horse property with a ”No Climb” horse fencing, no wasted land here!

Great view of Gold Field Mountains and Superstition Mountains and many more! Must see to truly appreciate!

For more information visit our website

Visit our website:  WWW.LocateArizonaHomes.com

Call 480-355-8645 Or Email Us Info@LocateArizonaHomes.com

A Word Homeowners Need to Understand

What is your mortgage balance? Well, that is one answer, but the new tax law has a very specific reference for the term Acquisition Debt as it relates to Phoenix Metropolitan home owners, and others around the country. So read on to learn more, then talk to you tax adviser as to the effects this will have on re-financing your current  mortgage, or buying a new home here, in Chandler or in another part of the country.

Acquisition Debt is the amount of money borrowed used to buy, build or improve a principal residence or second home. Under the new tax law, mortgages taken after 12/14/17 are limited to a combination of $750,000 on the first and second homes. The mortgage interest on this debt is tax deductible when itemizing deductions.

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It is a dynamic number that is reduced with each payment as the unpaid balance goes down. The only way to increase acquisition debt is to borrow money to make capital improvements.

Prior to the new law, homeowners could additionally borrow up to $100,000 of home equity debt for any purpose and deduct the interest when itemizing deductions. Mortgage interest on home equity debt is no longer deductible unless it is for capital improvements.

Acquisition debt cannot be increased by refinancing. Some confusion occurs because mortgage lenders are concerned in making home loans that will be repaid according to the terms of the note and using the home as collateral. That does not include making a tax-deductible mortgage.

Another thing that adds confusion to the issue is that the lenders will annually report how much interest was paid in a year but only the amount that is attributable to acquisition debt is deductible.

Even if the interest on the cash-out refinance is not deductible, it may be advantageous to pay off higher interest debt such as credit card debt and replacing it with lower mortgage debt.

It is the responsibility of the taxpayer to know what part of their mortgage debt is deductible. The challenge becomes more difficult after a cash-out refinance. Homeowners should keep records of all financing and capital improvements and consult with their tax professional.

The key here is to consult with your Denver tax adviser BEFORE a re-finance to find out the effects on your tax return. Most good loan officers will be able to answer the question, but a tax adviser is best. To find either a tax adviser or a loan officer CONTACT US TODAY.

CALL 480-355-8645 or EMAIL Gina@LocateArizonaHomes.com

WWW.LocateArizonaHomes.com


Don’t Let a Killer In

Arizona enacted a law many years ago that requires a carbon monoxide detector within 15 feet of every “sleeping area” before the home is sold. Arizona is pretty good about this as they only cost $40-50 and are easy to install. Here is part of why the state legislature enacted this law…

Carbon monoxide is a silent killer you don’t want in your home but because it is colorless and odorless; you may not even be aware the deadly condition exists. The Center for Disease Control says more than 400 people in the U.S. die annually from carbon monoxide poisoning and over 10,000 require medical treatment each year.

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Unmaintained furnaces, water heaters and appliances can produce the deadly gas. In addition, other sources could be leaking chimneys, unvented kerosene or gas space heaters or exhaust from cars or trucks operating in an attached garage.

The Environmental Protection Agency suggests the following to reduce exposure in the home:

  • Keep gas appliances properly adjusted
  • Install and use an exhaust fan vented to the outdoors over gas stoves
  • Open flues when fireplaces are in use
  • Do not idle car inside garage
  • Have a trained professional inspect, clean and tune-up central heating systems annually

Headaches, nausea, vomiting, dizziness and feelings of weakness or fatigue are a few of the most common symptoms. Lower levels of exposure to carbon monoxide may be mistaken for the flu.

Carbon monoxide alarms should be on every level of a home and especially, in sleeping areas. The alarms can be purchased for as little as $25 and plugged into the wall like a night light.

Regardless of the government requirements, no one would want to put their family, guests or themselves at risk for something so deadly.

Please let me know if I can get you any further information on this topic.

Call 480-355-8645 Or Email Us Info@LocateArizonaHomes.com


Welcome to 3259 S Danielson Way, Chandler

Exclusive Listing at 3259 S Danielson Way in Chandler’s Markwood North,

This gracious, single-level home is conveniently located in sought-after Chandler Unified School District, near highways, major employers, parks & shopping.

Beautiful foyer graced with high arches welcomes you to this open, split floor plan. Vaulted ceilings and warm neutral colors make this turn-key. Home has just been upgraded with new exterior and interior paint and all new carpet.

Chef’s kitchen features gas cook top and gourmet hood, built-in double ovens, center island with breakfast bar, granite countertops, and custom oak cabinets featuring microwave cupboard, shelving and glass fronts.

Separate formal living and dining areas in addition to the open concept kitchen and family room. Master bedroom with ensuite master bath with double vanity, separate shower and garden tub.

Large, private rear year features full length covered patio with beautiful pavers that lead to eating area with barbecue, great for entertaining.

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For more information  Visit our websites: 

WWW.LocateArizonaHomes.com

http://www.locatearizonahomes.com/blog

Call 480-355-8645 Or Email Us Info@LocateArizonaHomes.com

Do You know the Tax Difference in Second Homes?

Many folks who live in the valley have 2nd homes in the mountains. Some are fishing cabins while others are condos for ski weekends, or you might find a true replacement residence. The truth is that some of the tax law changes form last year might affect those home owners. So read on…

A principal residence and a second home have some similar benefits, but they have some key tax differences. A principal residence is the primary home where you live and a second home is used mainly for personal enjoyment while limiting possible rental activity to a maximum of 14 days per year.

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Under the 2017 Tax Cuts and Jobs Act, the Mortgage Interest Deduction allows a taxpayer to deduct the qualified interest on a principal residence and a second home. The interest is reduced from a maximum of $1,000,000 combined acquisition debt to a maximum of $750,000 combined acquisition debt for both the first and second homes.

Property taxes on first and second homes are deductible but limited to a combined maximum of $10,000 together with other state and local taxes paid.

The gain on a principal residence retained the exclusion of $250,000/$500,000 for single/married taxpayers meeting the requirements. Unchanged by the new tax law, the gains on second homes must be recognized when sold or disposed.

Tax-deferred exchanges are not allowed for property used for personal purposes such as second homes. Gain on second homes owned for more than 12 months is taxed at the lower long-term capital gains rate.

This article is intended for informational purposes. Advice from a tax professional for your specific situation should be obtained prior to making a decision that can have tax implications.

I would love the opportunity to assist you in connecting with a tax professional!  Call or email me today 480.355.8645 OR Info@LocateArizonaHomes.com


When Neighbors Don’t Seem to Care

Many times I have addressed this issue when marketing a home for sale. In the old days neighbors would band together to water and mow the front yards of abandoned, or even properties that were in foreclosure. Some folks do run into financial issues. and my experience has been 2 fold: a. they appreciate the help or b. they bury their heads even further hoping things will fix themselves. Either way, a neighborly offer of help may be the most appropriate way of approaching the folks involved. You might even find they could use help from someone like myself (introductions appreciated).

A home that isn’t being maintained like others in the neighborhood can negatively affect your visual sense of appeal and in some extreme cases, even affect property values. It might be an overgrown yard, a fence in need of repair, excessive noise, unruly pets, paint peeling on the home or even a car or boat parked in front of the home that hasn’t moved in weeks.2676519-250.jpg

Most people want to be good neighbors and may be willing to correct an issue once it is brought to their attention. A practical, but possibly confrontational, solution is to contact the responsible person and describe your perception of the issue. However, they may not always agree with the same urgency and it might be necessary to seek other remedies.

An owner-occupant may be more sympathetic to the neighbors and willing to correct the issue. If you think the home might be a rental property, check with the county tax records to identify the owner. They may be unaware of the situation and welcome the notification to protect their investment.

Another alternative might be to notify the homeowner’s association, if there is one. One of the benefits of a HOA is to enforce community appearance standards as set in the covenants or bylaws that specify how properties must be maintained. This could be a less personal method of reaching a beneficial outcome.

If the source of the problem is a code or housing violation, the city may be the ultimate authority. Most cities have a separate code and neighborhood services division and some cities have 311 for non-emergency assistance.

Talk to your neighbor first! We friend that had a barking dog out back and she barked well into the early morning hours in our quiet  neighborhood. The past 5 years there was no history of this from the dog but their blood was boiling! When they had calmed down and called the neighbor explained his son had fallen off a roof, broken his neck, and they had been spending their days and nights at the hospital, never thinking about the dog. So before you turn them in to the authorities, or any other part of the world, be neighborly and talk to them first.

If you need any assistance with tax records or HOA information, feel free to contact us, we would love to help!

Info@LocateArizonaHomes.com  480.355.8645