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Saturday, January 31, 2015

How Much To Spend On Your Remodel Projects

#HowMuchToSpendonRemodel

Here's a question from our clients.

The answer, of course, is.... it depends.

When you started that bathroom remodel, you planned to redo the floor and paint the cabinets and put in a new shower stall. But gradually you did more and more. Now you’re moving the shower to where the bathtub used to be, you’re bringing in new cabinets and instead of putting down ceramic tile, you’re laying travertine. Have you gone too far? Maybe not far enough? Will you ever get your money back when you sell?

You can get some answers to those questions for metro Phoenix in the 2015 Cost Value Report published by Remodeling Magazine, read by building industry professionals. 

Read here: http://www.remodeling.hw.net/cost-vs-value/2015/mountain/phoenix-az/
to get some idea of what you can eventually get back.

As you might expect, the report says bathroom and kitchen remodels are the most costly and do recoup quite a bit at resale. However, you don’t need this report to tell you that no homeowner ever recovers every dollar spent on remodeling in a resale. But, sometimes you can, sometimes you get more, and sometimes really much more depending on your property and its location.

So it's a case by case review of each individual home. There are a number of factors involved.

The best approach is to call us for the property you would like to purchase, or a current property you decide to renovate to keep or to sell.

So... what about that bathroom? An upscale remodel, described in the report, would more than double the size of an existing 35-square-foot room to 100 square feet. All fixtures would be relocated and replaced including tub, toilet and shower. The new shower would have ceramic tile walls and a frameless glass enclosure. This renovation would cost an estimated $49,349 in Phoenix, according to the Cost Value Report. You would recoup $34,532 at resale – an estimated 70 percent recovery.

A midrange remodel keeping the same bathroom size and footprint but changing all fixtures would cost $15,317 in Phoenix and recoup $12,474 at resale – an estimated 81.4 percent recovery.

One extra “Richard Bazinet” recommendation: In a house with one-and-a-half baths, converting that powder room to a full bath is an investment that can make a huge difference in the value of your house and how fast it sells. Adding a bedroom can be a huge investment in a new value for the property.

And if you live in a luxury, high-end area, a barebones remodel might not fit what buyers want in your house. The same warning fits in a modest subdivision. Overdoing a renovation may not fit what buyers expect to pay for your house. In some cases, a remodeling job out of synch with the neighborhood can detract from rather than add to your home’s value. You see this sort of problem with houses that has been renovated in the wrong neighborhood.

There are many opportunities in the Phoenix Scottsdale market right now, and it's a question of choosing the right ones.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Tuesday, January 27, 2015

Confused On Type and Mortgage Loan Amounts in Phoenix Scottsdale?

#ConfusedOnTypeandMortgageLoanAmounts?

Here's a great and very common question from my clients. One about mortgage loan types and amounts. Being in the business of real estate everyday, you become accustomed to expressions and the jargon of the industry. But when looking at it from the consumer's point of view, I can see why it seems confusing.

So here are the simple, quick and fast, basic, rounded up mortgage loan types (and the words used) and their amounts you'll encounter when you purchase a home that you'll finance.

1. The conventional mortgage loan. Typically with a down payment of 20% or so, sometimes less, backed by Fannie May and Freddie Mac up to $417,000.

2. The jumbo mortgage loan. Same a above but from $418,000 and up.

3. The FHA mortgage loan. Typically with a 3.5% down payment, it involves mortgage insurance premiums, and up to $271,050. This may vary by county.

4. The VA mortgage loan. Typically, zero down payment, and up to $417,000 although there is no real loan limit so higher amounts are certainly possible.

5. The Foreign National mortgage loan. Typically 25 to 35% down, no real loan limits as most of those mortgage loan follow the same guidelines of the loans described above except of course for the VA mortgage loan program.

6. And other types of mortgage loans such as private money, hard money, seller financing, investment, construction, with variables scenarios, parameters and amounts depending on the situation.

So, there best approach is to call me to discuss your home purchasing plans and I'll have you connected with the right competent and professional preferred mortgage lenders specific to your situation.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Saturday, January 24, 2015

Save BIG Money With Your FHA Mortgage Loan in Phoenix Scottsdale

Starting Jan 26/15, FHA has reduced the mortgage insurance premiums for you to get an FHA mortgage loan.

That means BIG savings for you. How BIG? On a $200,000 loan, about $1,000/year. How does this grab you?

So, if you were considering getting into a new home purchase with a FHA mortgage loan with a very low down payment, as low as 3.5%, while the getting is good - stable Phoenix Scottsdale pricing and low mortgage loan rates, now would really be a good time to call me.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Save BIG Money With Your FHA Mortgage Loan
#Buynow

Sunday, January 18, 2015

Service For Life January 2015 Business Of The Month

#ServiceForLifeJanuary2015BusinessOfTheMonth

Service For Life Magazine Jan 2015 Business of the Month is Ashley R. Carlson, Author



Type: Author – writing awesome fantasy novels!

Who: Ashley Carlson            

Description: Ashley R. Carlson is an author drawn to writing fantastical elements, complex relationships, and characters who rise above their circumstances. Her debut steampunk-fantasy novel, “The Charismatics,” was released December 13, 2014 to rave reviews on Amazon and Goodreads. Available at Amazon.com and Goodreads.com.

Contact: www.ashleyrcarlson.com, on Twitter @AshleyRCarlson1, and on Instagram @ashleyrcarlson. Her email is ashleyrcarlson13@gmail.com, so please reach out to the author!

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate



Thursday, January 15, 2015

Check Out The JANUARY 2015 Issue of Service For Life

#JANUARY2015IssueofServiceForLife



http://hosted.vresp.com/1331145/25c8db99f2/547436781/3a0b628891/

What a fun newsletter this month.
How about that... our Business Of The Month is author Ashley Carlson! Find out about her latest book.... I'm delighted to have her as a client too!
So.... are you causing damage to your car without knowing it? In today’s Service For Life!® Free consumer newsletter, I’ll show you how to avoid the five most common “bad car habits” that wear down your vehicle so you can save thousands in car repair bills.

How about a brain teaser? Take the challenge...

You’ll also learn how to quickly fix a running toilet, three little-known smartphone tricks, and ways to protect your kids online – plus fun facts, a trivia challenge to win movie tickets, and lots more.

Friday, January 9, 2015

7 Reasons You MUST Buy A House NOW in Phoenix Scottsdale


Ladies and gentlemen, it's a new year and a new beginning. So lets start fresh.

I'll give you 7 reasons to right now buy a house in Phoenix Scottsdale. If you have been procrastinating, it's time to get off the fence and get moving.

1 .Prices of real estate in Phoenix Scottsdale are stable. But not for long. Watch for potential increases in the second quarter and still tight available inventory that will add pressure to pricing and negotiations. This is pretty well as good as it will get.

2. Mortgage are still cheap. For now that is. You can get a 30-year mortgage loan for 4%. What's not to like about this? Mortgage rates won't get any lower, and we expect a significant rises into the second quarter.

3. You save on taxes. Deducting your mortgage interest, deducting your property taxes, deducting FHA premiums and points.

4. It's yours. When you buy a property, you own it - you have something. When you lease a property, you own nothing - you end up with nothing. In fact, you are using your money to pay for someone else's asset. A home purchase is more than a place to live - it's an investment,

5. You’ll get a better home, and it won’t cost you as much to buy as it might to lease! Generally speaking, it almost cost less to own a home than to lease it.

6. Sooner or later, the market will always go up. Real estate is a long-term investment. Just like that retirement plan contribution that you forget about for the next fifteen to twenty years, what appreciation your house goes through next month, next quarter or next year pales in comparison with where it will be five years down the road and beyond!

7. You can have someone else pay the mortgage for you. That's right. buy and then lease it. All you have you need is a down payment, your mortgage payment is effectively paid by your tenant. How does it get any better?

So there you go. 7 great reasons.

Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate