Need Remodeling Help?

Here is a step by step guide to help you hire a quality home improvement contractor.

Before talking to any contractors the first thing to do is create a budget for the project. Without a budget you will be flying blind and may end up over spending. Having a tight budget will also help you make decisions about what kind of fixtures, and materials to purchase. Most products have a wide price range and having a budget will help keep you in line when making buying decisions.

After you have your budget dialed in get three written estimates from three different contractors. Be sure the estimate is complete; getting a “written” estimate on the back of a business card is not a sign of a good contractor. Getting three estimates will enable you to compare prices from different contractors. Reliableremodeler.com is a great service that will help you get free estimates from quality contractors for free.

Take the time to talk with each contractor and get a feel for which one you will be most comfortable working with and having in your home. Be sure and pay attention to things like who shows up on time and who is prepared to talk about your project. If a contractor shows up late to your appointment chances are they will show up late when working on your project.

While you are in the process of selecting a contractor it is a good idea to make sure they have the proper license, insurance, and bonding. All three of these items are in place to protect homeowners. Working with a contractor who isn’t licensed or doesn’t have the proper insurance might come back to haunt you. A good contractor will show you copies of these documents when they present your written estimate.

The next step is to check the references of the contractor you are leaning towards selecting. Be sure to ask specific questions about their experience with the contractor. “Did the contractor show up on time?” “Did the contractor clean up after themselves?” If you want to be more aggressive you can ask the contractor for the names and numbers of their last three jobs and call those instead of their handpicked references. This will provide a more realistic overview of the contractors daily work habits and skills.

The last step is to select your contractor and have them provide you a timeline for the completion of the project. Having a timeline will help ensure your project is completed in a timely manner.

For more tips on preparing your home for sale, visit Tracy Thompson online at TalkToTracyHomes.com or AZHomeBuyerHelp.com

Do You Have an Extra $5 Million?

The sale of a DC Ranch home for $9.5 million ranks as the third highest ever in the Valley. The almost 11,000 square foot home is located on a 2 acre parcel in Silverleaf. The two top home sales in the Valley were a 2001 house for $10.5 million and a 2005 estate for $11.4 million. Both properties are located in Paradise Valley,

The MLS currently lists 113 properties priced $5 million and above. The most expensive being a $19.9 million estate located on 10 acres with approximately 25,000 square feet of living space. I have posted the listing on my site just in case you are interested in making a record-breaking home purchase.

Now if you find yourself not being able to afford much over say $6 million rest assured. There are 41 homes available today in the $5-$6 million range. There are even a few over 10,000 square feet. Many of these properties are still in various stages of the construction process allowing the buyer to make customizations. All of these properties are able to be viewed by qualified buyers.

Investment Opportunities

I currently have 3 properties that are great investment opportunities


2 West Phoenix 4-plexes
New Roof, New A/C, Fresh Paint. Own 8 units for residential financing. Fully rented. See also 3135 W. Almeria. To be sold together. Parking lot and landscaping in progress.
More Information http://www.InvestorRentals.com

Glendale Town House
Spacious 3 bedroom home is located in a great looking complex shaded with Pecan trees. The community features a playground and community pool. Within walking distance of schools shopping and transportation. New flooring, appliances and hot water heater. Don't pass up this great property. More Photos http://www.AZHomeBuyerHelp.com

Buckeye is positioned for greatness.

I had the opportunity to visit Tartesso this past weekend. Tartesso is the first of the ‘Road to Nowhere’ sub divisions. All I can say is WOW. I was so impressed with the amount of infrastructure already in place. Many roads are in and the entrance looks to be close to completion. Houses in Tartesso will start at $225,000. The average price for a new home in metro Phoenix was nearly $250,000 in January, according to R.L. Brown, who publishes the Phoenix Housing Market Letter. Tartesso, sitting west of the White Tank Mountains on 12,000 acres, has been approved for 40,000 homes.

Tartesso's main thoroughfare will be Sun Valley Parkway, which historically has been called the "Road to Nowhere" after development dreams turned sour in the 1980s. Developers are ready to fill the 160 square miles of desert with 300,000 new homes in one of the last large pieces of undeveloped land in the metro area. Buckeye's Sun Valley area will be metro Phoenix's next big growth corridor. Planners are projecting that 500,000 to nearly 1 million people will move to the area in the next 40 years.

More development along the Sun Valley Parkway is on the way. Stardust Development is partnering with Sterling Centre Corp. to build Tartesso Town Center, a 3.5 million-square-foot project planned for the entrance to the community. Developer El Dorado Holdings is partnering with Sonoran West Properties to develop Douglas Ranch, the state's biggest planned development. Douglas Ranch will cover 35,000 acres, more than twice the size of Manhattan. Douglas Ranch will eventually have 84,000 homes, 250,000 residents, four freeway interchanges, and dozens of office parks and malls.

Pulte bought or bought options on several parcels of land totaling about 4,100 acres east of the Sun Valley Parkway between Missouri and Northern avenues. Pulte will build one of its all-ages Anthem communities there. Pulte is building Sun City Festival in the northern part of the Sun Valley area. Pulte also is developing property in Tartesso.

I’ve posted pictures and information on builders and floor plans on my website.

Thinking about selling in 2006?

If you are thinking of selling your home this year, the time to start planning is now. I'm not one to sugar coat reality. The Phoenix real estate market has changed. What was insanity during the summer of 2005 has returned to something more normal in 2006. This is a good thing. We are starting to see things level. I no longer have to write an offer on a property in the driveway so I can compete with 20 other buyer's. I firmly believe buying a home is not something one should do on impulse.

Days on market have tuned to weeks and pricing has actually dropped slightly. In the Phoenix area, the median price of an existing Valley home fell January to $257,000 from $260,000 in December. While a record high of 10,700 homes sold in August, 5,260 existing Valley homes changed hands in January.

What does this mean if you are planning to sell? The inflated prices we saw last summer are gone. Sellers who insist on over-pricing their homes will become frustrated while they sit on the market unsold. Last summer, because a house could sell in just days not weeks, most REALTORS left marketing by the wayside. Now, in order to sell a property, good agents have returned to their marketing plans to help sell a home.

All of this requires planning. Preparing your home for sale, knowing what repairs should be made, staging your property, ordering marketing materials, and more. These are all things your REALTOR can help advise you. In fact, talking to an agent a few months before you plan to sell is a great idea. He or she can walk through your home letting you know what, of anything, you can do to increase the value of your property. The REALTOR can also help you devise a timeline to prepare you for what should be done when.

Now is also the time to keep your finger on the pulse of your neighborhood. Pay attention to the prices of houses as they go on the market, how long they stay on the market, and what they actually sold for. You can be the best informed seller in your neighborhood. Just click here, if you live in Maricopa county, and I will set you up to receive an email when homes in your neighborhood are listed for sale or sell.

West Valley Update

Live in the West Valley

I decided today I would check into the status of the new Cardinals Stadium, Glendale Arena, Westgate, Zanjero, and everything else going on in that part of the valley. I used to live less then 1 mile from where the arena now stands. When I lived there, it was farm land. Over the years that farm has sustained a running joke between my husband and me about drowsiness that I will not bore you with here. I was quite fond of that farm.

Well the farm is no more. A peek at the Cardinals web site had provided me with some of the information I was looking for. Stadium progress has been quite impressive. Just driving past the stadium one gets the feeling that this is going to be like something never seen before. The Cardinals have provided virtual tours and progress photos on their web site. The season ticket selection process is underway and there seems to be a big push for new ticket holders for coming season. It is hard to believe the first game is just a few months away.

Real progress can be seen at the Westgate site. This is great news not only for those living in the area but also for the city of Glendale who is relying on the tax revenue to offset some of the cost associated with this project. The webcam is a nice way to view the progress. The addition of Lowe’s 20 screen Cineplex and Yard House restaurant will finally create a reason to be in the area other then arena events.

Zanjero has announced the addition of a 160,000-square-foot Cabela's outdoor-outfitters megastore. We can also expect two 100-room hotels, a Hampton Inn and Homewood Suites, will take its place. The hotels will join a 100-room Marriott Residence Inn, bringing the total number of rooms at the project to 300. I wish I could dig up more information on this site but so far, not much.

The Glendale Arena has been the recipient of numerous awards since it opened and managed to weather the NHL strike well. The arena has hosted everyone from the Rolling Stones to Britney Spears. If you have not taken in an Arizona Sting Lacrosse game, now is the time. Ticket prices are very reasonable and can provide a fun family evening.

If you would like more information on the growing West Valley, visit TalkToTracyHomes or AZHomeBuyerHelp. Or call Tracy Thompson at: 623-326-0597

Before You Visit a New Home Community

Do Not Visit A New Home Community
Until you have consulted a REALTOR!
Are you finally ready to realize your dream of having a new home built? Have you been reading the weekend newspaper salivating at the builder ads? In your mind, do you already have the prefect Travertine tile selected to match the custom counter-tops in your fantasy kitchen? Have you spoken with a Realtor® to ensure YOU are going to have representation when you make your new home purchase?
If you answered yes to all of the above questions except the last one, you might want to reconsider making what will probably be the largest purchase of your life. The largest purchase of your life. I cannot say that enough. If you plan on strolling into the sales office at a new home development without a Realtor®, you are giving up your rights to representation. The agent working in a new home development represents the seller (in most cases the builder) not you. You are not saving any money by not using a Realtor®.
Let me clear up a common misperception. Many people believe the buyer pays the brokerage fee (commission) to a Realtor®. In almost all cases, including the purchase of a new home, the Brokerage fee is paid by the seller. The buyer does not pay anything to the Realtor® for the work done. I say in most cases because there are occasional times when the buyer might elect to purchase a “for sale by owner” home where there is no fee offered to the buyer’s agent. On these occasions, the buyer will typically pay a brokerage fee to their agent for representing them in the transaction.
Basically, what this boils down to is, as a buyer you have at your disposal a Realtor® who acts in your best interests, helps locate properties, drives you around to view those properties, consults with you on the best choices, writes the contract, arranges escrow and inspections, remains in constant contact with the seller’s agent, the loan office, the title company, and you, ensures all of the required documents are in order, and coordinates your closing. At no cost to you, the buyer. Yep, at no cost to the buyer.
In what other arena can you transact business using a trained professional who is acting in your best interests and pay nothing for that service? Realtors® do not get paid until the transaction closes. So if you purchase a new home, wisely having a Realtor® represent you, not only do you have someone looking out for your best interests, but the Realtor® is happy to do so knowing that until your transaction is complete (it can now take 9-12 months of more for a new home to be built) that Realtor® is not going to be paid a single cent. If you purchase a new home without a Realtor®, you are doing so without being represented in the transaction. There is no one looking out for only your best interests.
Please, keep this in mind when you are ready to make your next home purchase. There is really never a good reason not to represented by a licensed Realtor®. Copyright 2004-2006. Tracy Thompson is a member of the National Association of Realtors®, The Arizona Association of Realtors® and the Glendale Board of Realtors®. To find out more about home buying and selling, contact Tracy at 623-326-0597 or email Tracy@TalkToTracyHomes.com. Sign up for Tracy’s free weekly newsletter at http://www.TalkToTracyHomes.com/ or AZHomeBuyerHelp

So you want to invest in Real Estate

So you want to be a Real Estate Investor….
Standing in the aisle of my favorite bookstore, I was overwhelmed by all of the titles that promise “Real Estate Riches Overnight”, ”Make Millions with NO Money Down”, “Even a Total Idiot Can Get Rich in Real Estate”. OK, I’m thinking we need to define rich and probably define idiot too. Can it really be that easy? Are idiots becoming millionaires overnight? What am I missing?

If you’ve lived in the Valley of the Sun for the past 12 months you have probably noticed the change in the Real Estate market. Insane, Crazy, Extreme. Wild stories of builders raising prices in new subdivisions over $50,000 during the first six months. Your neighbor down the street making a $100,000 profit on a home she has owned less then three years. You can’t help but wonder if it is ever going to end and how can you get your piece of the pie.

First, invest in you. If you do not already own your own home, start there. It makes no sense to rent an apartment while buying properties for other people to live in and lease from you. Your home is the most important purchase the average person will make in their lifetime.

Once you have taken care of your living situation, it is now time to start making decisions about the type of real estate investor you wish to be. Do you want to own single-family homes, condominiums, or even multi-unit properties? How do you feel about raw land? Commercial buildings? What about a parking structure or a business opportunity? You see, the world of real estate is filled with many choices. Most of those choices will be dictated by your current situation. How much time you have to devote to your properties and how much money you have to spend.

Answering the above questions will probably not be easy. You need to form a team of people to help you with your decisions. I strongly urge all of my clients to consult a good accountant and/or tax attorney before making any real estate purchases. Accounting has never been my strong suit and while I can execute a 1031 tax-deferred exchange, I am not qualified to give advice on the tax benefit. That is when we call in the CPA’s.

The rest of your team should consist of a mortgage broker, home inspector, insurance agent, real estate appraiser, escrow officer, and the most important piece of this puzzle a licensed Realtor. I say your Realtor is your most important piece because not only will they help you identify and locate investment properties, but they are the member of your team who helps you coordinate the other members while maintaining contact with the seller and protecting your best interests all at the same time.

Seriously - What do you think of Bubbles?

Maybe I should have kept my mouth shut.

While drinking my morning coffee, I foolishly asked my husband what information he was given by the military when he had to change bases. Had I known what I was getting myself into, I would have just done some research online.

The reason I asked was I have noticed lately a surge in home searching coming from bases in other states. This made me wonder what, if anything, the military did for a service member who was relocating. I know it has been many years since my husband was active duty but I assumed any information was better than nothing. Somehow asking this caused us to get into a housing bubble discussion.

"The Bubble". When I hear about the bubble I automatically picture "The Blob" or maybe "Attack of the Killer Tomatoes". There is such an ominous tone that come with "The Bubble".

My Husband has a much different view of "The Bubble" then I do. This caused me to think of some recent conversations with clients many of whom are concerned about 'The Bubble" but not positive what they need to be concerned about.

So I've decided to ask you.......What does "The Bubble" mean to you and how concerned are you?