Do I Need a Real Estate Agent to Buy from a Builder?

Buying from a Builder

Q: Do I need to hire a real estate agent to represent me when I buy a new home from a builder?

A: Legally, no. But if you don’t, you might be missing out on some tangible benefits that impact your wallet and how much you get for your money.

There are many reasons why an agent is a sound investment during the purchase process with a builder. While some of them can be quite complex (and go beyond the scope of this blog post), here are a few highlights: Continue reading “Do I Need a Real Estate Agent to Buy from a Builder?”

What you need to know before you buy a home

Purchasing a home

Tips For First Time Home Buyers

Okay, first-time buyers… it’s time to turn your dream into reality. Your very own home. I’m sure you have questions. In fact, I’m sure your questions are like most first-time buyers. Which is why I’ve put together this basic answer guide for the most common questions home buyers have.

1. What kind of credit score do I need to have?
Generally, 630 or above is what you’ll want to have. The better your score, the better the terms will be on your loan. Some lenders may give you wiggle room on this, but it all depends on the circumstances. A loan professional can help you navigate this as you go. Continue reading “What you need to know before you buy a home”

Prescott Declared Among ‘happiest and healthiest’ U.S. Communities

Prescott ArizonaPrescott, Arizona, has made the headlines again.  The most recent accolade came from Time Magazine.  The national publication has granted Prescott, Arizona, as one of the “happiest and healthiest cities in America”.  This is prestigious title follows another recent honor made by the Sunset Magazine, who declared Prescott as the “best place to live in the Southwest”.

To determine the “happiest and healthiest” place to live, there were 189 cities identified and over 350,000 people were surveyed.  Researchers based their rankings on the physical, emotional, financial, community, and social health of the communities.  Prescott landed impressively at number 13 out of 189.  In addition, Prescott, also known as “Everybody’s Hometown”, was the only Arizona city that landed in the top 20.

“Happiest and Healthiest” and “best place to live in the Southwest” are both titles that are well deserved.  Prescott’s friendly community and near perfect climate makes it a great place to raise a family as well as a perfect place to retire.

Read the full story here

For information on all that Prescott has to offer, give John Gorden with BloomTree Realty a call at 928-308-0101.  John has specialized knowledge of the diverse communities in the greater Prescott area which has lead him to develop a comprehensive tour of Prescott Subdivision and Neighborhoods that suit your Lifestyle and Budget

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Can I determine how much my home is worth from an internet website?

Purchasing a homeThe answer to this frequently asked questions is NO! Anyone who has bought a home, sold a home, or just looked at homes, has heard of websites such as Zillow and Trulia. These are also commonly referred to as third party real estate websites. Third party real estate websites are not local to every real estate market.

These third party real estate websites provide estimates of home values for practically any home in the United States. How is it possible that a third party website that is headquartered in California or Florida can provide an accurate home value for a home located in Rochester, NY? These third party websites such as Zillow and Trulia, use computer generated home values based on calculations and formulas.

These websites providing inaccurate estimates (or “Zestimates”) can create a false sense of hope and lead to frustration. A home seller who is told their home is worth $20,000 less than the online estimate is going to be understandably upset. It’s critical that when selling a home, the value is determined by a top Realtor in your local area, not an internet website!

Let John Gorden Help You Get an Accurate Value of Your Home – Click Here for More Information

How do you determine how much my home is worth?

Home is worthThere are a handful of methods that Realtors use to determine the value of a home. The mot common method to determining the value of a home is by completing a comparative market analysis. A comparative market analysis is an in-depth evaluation of recently sold “comparable” homes in the past 6-12 months. A comparative market analysis, also known as a “CMA,” isn’t a crystal ball that determines what a home will sell for, however, if performed by a top Realtor it should greatly narrow the sale price range.

A professionally completed “CMA” will take into account amny features of not only a home, but also the local area and neighborhood. Considerations that a professionally complete “CMA” include, but is not limited to:

  1. Square footage
  2. Number of bedrooms
  3. Number of bathrooms
  4. Upgrades to kitchen
  5. Window quality
  6. Roof age
  7. Lot features
  8. Location; primary or neighborhood street?
  9. Style of residence
  10. Flooring type

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What Is The Assessed Value Of Your Home?

Homes for sale Highland Pines PrescttAssessed value is not the same as market value or appraised value. There are many homes that could be sold for significantly more than an assessed value and others that maybe sold for significantly less. The assessed value of a home is used for the purpose of taxes in your local municipality. The assessed value of a home is multiplied by the local tax rate to determine what your yearly taxes are. The assessed value has no impact on how much your home is worth to a potential buyer in the marketplace.

Unfortunately, there are many home buyer’s who believe that a home that is listed higher than the assessed value is overpriced. This the furthest from the truth. Home buyer’s also question if something is wrong with a home if the list price is much less than the assessed value. The bottom line is the assessed value has no impact on how much your home is worth. There are home owners who don’t pay attention to their assessed value, just to find out their municipality has been slowly raising it, year after year, even though the market value hasn’t been increasing.

For information on pricing your home, give John Gorden a call at 928-308-0101.

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