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Friday, July 26, 2013

15 Tips For Building Your Real Estate Portfolio

15 Tips For Building Your Real Estate Portfolio

We still have awesome mortgage interest rates (read my previous blog at http://phoenixscottsdalerealestate.blogspot.com/2013/07/interest-rates-are-too-high-really.html) and competitive real estate prices. Yes, prices have gone up quite some. But we have not seen anything yet. They will go up higher. Why we still have some great pricing.

You make money on the buy side, not on the sale side.

So looking at real estate to add to your portfolio is not only smart but we are in the best time period, now! Education and experience are critical to finding good values and navigating the market. You are not expected to have those skills and knowledge, why you need an experienced and competent realtor to help you with this.

Here are the 15 tips to build a robust portfolio:

1.      Know the market you want to buy into. Location, trends, price ranges you can afford, historical trends and rental prices.

2.      Run through the financial scenario and analysis for your return on investment. I have a great investment analysis tool I can provide to my clients for each target property.

3.      Always arrange your financing BEFORE you look for property. Be ready.

4.      Start small and build up. Learn where the sweet spots are in the market.

5.      Never, never, never buy on price. Always buy on value.  Pay attention to location, noise nuisances, crime, schools, access to transportation, potential new developments, and the general attitude of the neighborhood.

6.      Find the ugly ducklings, the needy for a remodeling or the ones with the problems to fix. They represent the under-priced properties. Ideally, you want properties you can purchase, spruce up, remodel and finance for 70% of the after repair value (ARV) or less.

7.      Be careful not to overpay for a property. It just makes for a bad start. But don't expect either to get properties at low ball prices. This is simply not happening in the valley right now. And beware of those advertised 'wholesale' prices which are more of a sales pitch than anything else. I always wondered where they come from anyways, as many I have seen, have higher prices than normal everyday resale prices.

8.      Consider all the costs to renovate or fix before flipping or for rental-ready homes. If you are going to do it, do it right or just stay out of it.

9.      Look for properties that may border vacant land or at the edge of new developments because they have the greatest potential to increase.

10. Make sure you work with a competent and reliable contractors, handymen, and other specialized trades like painters, roofers, plumbers, electricians, etc...

11. Research all the tax implications that would apply to you for your real estate portfolio.

12. When selling, even renting higher priced properties, stage the property.

13. Use banks, mortgage brokers and private lenders to finance your properties. And have some cash for renovations and repairs.

14. Grow your portfolio into different types of properties to reduce risk. Combine single family detached, condos and commercial properties.

15. Work with an experienced and competent realtor to help you select, analyze, negotiate and purchase properties. Use the same realtor to sell or rent.



So when you are ready to build your portfolio, I'd be delighted to hear form you. If you need to be connected with a preferred lender, I can help you there as well.

And if you are ready to search, you can do it here: http://phoenixscottsdalerealestate.blogspot.com/2013/07/2-better-ways-to-search-homes-for-sale.html

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

15 Tips For Building Your Real Estate Portfolio

Thursday, July 25, 2013

2 Reasons Why You Need To Renovate Your Landspace

2 Reasons Why You Need To Renovate Your Landspace


A 5% investment in your landscape of your property can increase its value by as much as 15%. As well, great landscaping may reduce the amount of time your house for sale stays on the market as it improves the cub appeal. So even if you are not selling, it's always a great time to improve your landscaping, improve how you feel about your house and really make it a place where you enjoy spending time.

So, how do you make it stand out more?

1. Plant flower beds or cacti in each corner of the house, this makes the house look larger.

2. Revitalize your shrubs by cutting the dead ends and trim them down to make them look less wild.

3. Add mulch and fertilizer once in a while.

4. Create more privacy with large shrubs.

5. Use no more than three colors for flowers, cacti, flowering shrubs and trees.

6. Focus on the foliage of the plant. Choose plants that have leaves in a variety of shapes, textures and patterns. Choose flowers, cacti, shrubs and trees that bloom at different times of the year.


2 Reasons Why You Need To Renovate Your Landspace

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Sunday, July 21, 2013

2 Better Ways To Search Homes For Sale (or Rent) in Phoenix Scottsdale

2 Better Ways To Search Homes For Sale (or Rent) in Phoenix Scottsdale



Can't find what you are looking for? Looking for much better ways to search available homes for sale? Looking for real access to information? Tired of going to popular web sites and inaccurate lists of homes that are no longer on the market? 

Tired of using the amateur consumer sites like Zillow, Homes and Trulia? Tired of being spied on, traced, your computer IP address and keywords being captured and analysed, your name and email being used and given to third parties so they can bombard you with advertising and Me, Me, Me sales pitches?

Way #1
Then let me hook you up directly into the MLS that professional Realtors use. Complementary, easy, fast, anonymous, 100% accurate to the minute, customizable to 'your' parameters, use sliders or text boxes, or by map, and at your own pace, as much and as often as you want. Ready? Go to  http://goo.gl/JfB9y

Need more details... then you'll know where to click for an email with the details. If you want to.

Way #2 (best)
You are busy - you don't have time to look for yourself? Just the facts Jack? Or you are the type that likes to delegate or let others do the work and just interested in the accurate, to the minute and precise results? Or prefer to let the pros do it? And you like daily updates too? Sent to your email with full description and photos? Maybe no daily updates but just access to the information?

We'll do the search for you, parameters and all, to the smallest detail as possible, all delivered in your own private MLS intranet web portal. All this complimentary (aka, FREE) .... Ready? Go to http://goo.gl/30BLR

Really, it's that simple.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate
www.wildwestrealestate.us

2 Better Ways To Search Homes For Sale (or Rent) in Phoenix Scottsdale

Thursday, July 18, 2013

Interest Rates Are Too High! Really?

Interest Rates Are Too High! Really? 
Rising mortgage interest rates concern prospective buyers, but they may not know rates are still lower than normal. They’ve gone up but are they high? Click on the source link below the graph to see the source data.
US Home Mortgage 30 Year Fixed National 5-Year Avg
Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate
Interest Rates Are Too High! Really? 

Monday, July 15, 2013

Are You Missing the Best Arizona Real Estate Buying Bonanza in Decades?

Are You Missing the Best Arizona Real Estate Buying Bonanza in Decades?


Has your best chance at getting a great deal on your dream home or investment property passed you by?

The answer is NO! 

But you certainly did miss the very bottom — the intersection of low home prices and rock-bottom mortgage rates.

But it’s still a bonanza out there for prudent buyers! Real estate is still incredibly low priced, mortgage rates are still reasonably low and great wealth still can be earned from owning quality properties for the long term.

Long-term ownership
The most likely scenario where a real estate buyer increases his or her wealth — and “increasing wealth” is the reason most people desire to own real estate — is by holding property for the long term. When you own long term, you pay down your mortgage along the way, the property’s value hopefully will increase over the years and you skip the exorbitant transaction costs that go along with buying and selling real estate over and over again. So don’t buy a home or investment property unless you are virtually positive you will own it for years. You generally have to own a property for around 7 years to start earning any equity.

And keep this in mind: If you have that long-term ownership goal, the recent uptick in property prices shouldn’t be big a deal for you, because in 10, 15 or 20 years, the values should be much higher. In fact, in 15 years you’ll hardly remember what you paid today; you’ll just be bragging about how it was the best investment you ever made.

How about a secret? Buy good quality real estate. That's right.

Beware: You can’t just buy any property and expect it will add wealth to your financial picture. You have to buy nice properties that are affordable to you — no get-rich quick schemes.

Many properties are wealth-draining, not wealth building. It’s usually the ones that sound like incredible deals, but they end up being too good to be true. A few types of properties that usually diminish your wealth are fixer-uppers, fancy prize properties, land, properties in mismanaged homeowners associations, rent-to-own deals, and properties in bad areas. Most of those are going to be wealth-destroying for a variety of reasons.

The best way to get you into the right properties is to call me.

To sum it up - 3 reasons to buy now!
The bottom has passed — a perfect storm of low prices and low interest rates is gone, gone, gone — but it’s still a buying bonanza out there for savvy buyers. And prices are rising!

If you are buying a personal residence, buy a home you can afford. If you are buying rental properties, buy properties that pay for themselves.

You want to know how or run the number? Call me. 

Interest rates for mortgages and home prices are still very reasonable — as long as you have a long-term ownership perspective. But rates will also rise.

And the emergence of new construction & remodeling.

Most importantly, don’t worry about what the news says and all the negative or positive commentary on the airwaves. Buy a great property for yourself, and you will hopefully enjoy the rewards down the road.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Are You Missing the Best Arizona Real Estate Buying Bonanza in Decades?

Friday, July 12, 2013

Arizona Monsoon Or Not, Dust Everywhere in Your House?

Arizona Monsoon Or Not, Dust Everywhere in Your House?



Desert dwellers like us in Arizona are always dealing with dust and often worried about the air quality in their homes. One possible way to cut back on dust, allergens and chemicals in your home is to have a serious cleaning of your duct work.

Superficial duct cleaning performed by many companies can waste time and money. But competent duct work cleaning companies who do this process and job for you should use an eight-inch diameter vacuum hose and a duct scrubbing device. A semi-rigid air hose that uses about 200 psi pressure and a multi-directional pressure tip is a good scrubber. The high-pressure air dislodges the dirt from the inside walls of your duct work and is vacuumed to a large vacuum unit that is usually mounted on a truck. Handheld units are not adequate and should only be used in areas with limited access. And good companies will also clean out your dryer vent as well.

Once those ducts are thoroughly cleaned, you can help keep them that way by using only good quality, 1-inch paper pleated filters on the intakes for your air conditioning system. Change those filters frequently – probably every month in the summer. Those filters are found inside the grills that take in air from your home and then feed it into your HVAC system. As well, you may want to consider an additional electronic filtering filter system that zaps impurities from the air traveling through your blower system.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Arizona Monsoon Or Not, Dust Everywhere in Your House?

Thursday, July 11, 2013

Arizona Water Softener Or Not?

Arizona Water Softener Or Not? Has to be one of the most common questions from my clients. And judging by our Arizona homes and comments from my clients is that this opinion is shared 50/50.


So, you may be thinking about installing a water softener, but you’re worried about whether a softener will add extra salt to your water – especially if you’re trying to control your salt intake.

But according to David Perry, Executive Director of the Arizona Water Quality Association, the softening process is an ion exchange system that removes the salts holding calcium and magnesium and replaces them with other salts. You’re not really adding to the total salt level in your water.

By comparison, an 8-ounce glass of Coca-Cola has 30 milligrams of sodium while an 8-ounce glass of softened water has less than 12.5 milligrams. According to the U.S. Centers for Disease Control, a typical 1-ounce slice of bread has between 80 and 230 milligrams of salt, although it depends on the brand.

The Mayo Clinic Web site also advises that the sodium in softened water doesn't amount to much. “It's important to keep in mind that the majority of sodium in an average person's diet comes from table salt and processed foods. Thus, the best way to decrease sodium in your diet is by putting away the saltshaker and cutting back on processed foods,” according to Dr. Sheldon Sheps, hypertension specialist with Mayo.

And, What Can A Softer Water Can Do for Your Home?

If you’re mainly interested in tastier drinking water delivered at your kitchen sink, homeowners should get a reverse osmosis system or distillation unit to remove the chlorine from drinking water and improve its taste. You can also use a carbon filtration system, like those often installed in refrigerators.

But you should buy or rent a water softening system to deal with the 'hardness' of our Arizona water. That’s the only way to end or minimize scale on your shower walls as well as mineral build-up that can shorten the life of appliances and your water-heater. In the process, you can eliminate dry skin problems and cut back on your use of soaps, detergents, shampoos, and fabric softeners

An ion exchange water softener will remove that hardness -- the scale-forming calcium and magnesium ions -- by replacing them with sodium or in some cases potassium.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Arizona Water Softener Or Not? 

Wednesday, July 10, 2013

June 2013 Phoenix Scottsdale Real Estate Market Update

June 2013 Phoenix Scottsdale Real Estate Market Update

Our Phoenix Scottsdale Real Estate June 2013 numbers are in! And they look great! It would be to onerous to give you the breakdown by area (but you can email me or call me for YOUR  specific home value - but you can also go on my website at www.wildwestrealestate.us and request a FREE home value report), but overall, let me focus on the main key market figures:


Overall market values are up a whopping 25% for the rolling year, overall, and up 3% from last month while the average days on the market decreased by 12% for the rolling year and decreased %1.52 for the month to month. This means in simple terms, that properties are selling much faster. The inventory is currently lower at about 2.6 months supply. So definitely house sales from time to market are actually accelerating.

The discount rate, meaning the price at which properties sell versus the listed price is about 2.7% on average - meaning homes are selling at listed price but overall homes sell at 97.3% of their original list price. The negotiating power of the average buyer is much less.  Of course, this will vary by market segment ($) and location.


Sold listings are down in June while the total new homes for sales coming on the market are down as well. So this means our inventory of homes is not getting any better and neither shrinking, while remaining tighter and I expect this will put more pressure on prices as it continue to create almost a shortage situation especially  in the market segment under $500,000.


It remains a great time to buy as we expect values to continue to rise, but also an awesome time to sell as you can get the most favorable terms and conditions.

Here are the median sold numbers per region and how they have been changing: 


Richard Bazinet - Realty ONE Group -Phoenix Scottsdale Real Estate

June 2013 Phoenix Scottsdale Real Estate Market Update

Tuesday, July 2, 2013

The July 2013 Of My Southwest Living Newsletter... Is Now Available!

“Tips For Healthy, Wealthy & Happy Living in Arizona… And A Little Bit About Real Estate…” 

Written in an easy reading format, inside each issue, you'll find tips, suggestions and ideas about money matters, your healthfinancial strategiesfun things to do, unique life ideas, consumer tips, new wordsquotes to live by, brain teasersreal estate matters and suggestions, trivia, free consumer reports, resources and references.... And many more other subjects of interest.


In this month’s Southwest Living! ® Free consumer newsletter you’ll learn six tips – beyond the basics – to sell things fast on this free online classified website.

You’ll also learn how to save money on all types of insurance, what you should and shouldn't eat to fight inflammation, three options for monitoring a teen driver and the latest benefits from using sunscreen – plus fun facts, a trivia challenge, and lots more.

You can subscribe to my free monthly newsletter here at www.wildwestrealestate.us so you can read it on line or have it delivered to your home!

Richard Bazinet - Phoenix Scottsdale Real Estate - Realty One Group

The July 2013 Of My Southwest Living Newsletter... Is Now Available!