Buy or Sell Homes in South East Valley of Arizona

There’s nothing simple about getting divorced. Whether you’re going to court or mediation, the end of a marriage costs time, money, and resources. When it comes to real estate and other investments, there are a number of considerations to be made. Where will you live? Where will your ex live? What do you do with the family home? This, along with other financial questions, are important as your life transitions. Before Divorce - What do you need to do with your finances? In her article  Financial Planning Strategies for Divorce , Gilbert, Arizona Financial Advisor Shanna Tingom of Heritage Financial Strategies, reminds couples to make sure they have access to all financial documentation including bank and credit card statements, retirement and other investment account balances, receipts from up to five years, and deeds to real estate, along with a credit report, and update beneficiaries on all accounts. Keep in mind your credit isn’t directly impacted by divorce, or marriag...

Becoming a  real estate investor in the East Valley , or anywhere else, is a big step toward the financial future you desire and as such shouldn’t be taken lightly. Mixed with a traditional retirement plan, real estate offers returns and monthly income that you can access long before you’re eligible to dip into your 401k. Keep in mind it’s a lot more complicated than buying a house, renting it, and collecting income. It takes identifying a clear goal, having a plan for the properties, and a willingness to bend with change. What is a real estate investor? If you have the financial ability to buy a second home, fix it up, and rent it, you may be a real estate investor. Determining whether or not you can afford to become an investor happens when you work with a real estate professional like me, Elaine Beery of Beery Realty, and our team of trusted lenders, to understand if you’re able to qualify for a loan, the loan amount, and loan programs to fit your needs. If you’re a seaso...

After a slow start in 2019, home sales and their corollary “listings under contract” continue their rise into early April, now slightly exceeding the sales and listings under contract for this same period in 2018.  Most of the improvement in sales and buyer interest can be attributed to our continually falling interest rates. Interest rates have declined throughout 2019 since peaking in early November of last year at 4.94% (Freddie Mac).  As of April, rates are down almost a full point from that high, to 4.08% (Freddie Mac, April 4, 2019). The monthly median sales price for greater Phoenix is up 4.6% year over year to $266,000, so buyers and sellers should still expect a relatively competitive market.  However, since much of what is driving our current market can be attributed to falling interest rates, buyers and sellers would be wise to keep an eye on rate changes (and their drivers), as any significant change in rates and rate direction would likely directly and qui...

Your primary residence isn’t an investment, this has been said time and again (especially since the market crashed entirely), but that doesn’t mean that when you go to sell you have to take a loss. Far from it. In fact, as of the writing of this article,  you’ll likely qualify for a tax exclusion  (meaning you won’t pay taxes on this amount of profit from your home sale) of $250,000 if you file on your own or $500,000 if you and your spouse file your taxes together. But, if you sold and there was more than the applicable amount in gains, you’ll have to pay taxes only on the profit above the mark. When you have all your ducks in a row, it gets a lot easier to see what side of that line you stand on. Reducing Your Tax Burden is the Goal When your gain from your home sale exceeds your tax exclusion, there are two ways to help improve the situation with all those receipts you’ve been saving (you have been saving them, haven’t you?). First, you can deduct expenses related...

February finds our real estate market still leaning in the seller’s favor but with definite and continued movement toward a buyer/seller balance. Home supply is still below average, and demand for homes is well below this same time last year. That said, comparing to this same time last year, the number of active listings is up  10.6%  and the monthly median sales price of  $262,000  is up  6.9%. Our continued price appreciation on housing, combined with higher interest rates, naturally makes for less demand, and listings under contract are down  13.9%  from last year. Many buyers are sitting on the sidelines, apparently uncomfortable with current pricing and interest rate uncertainty. The flux in the stock market is also a factor in buyer uncertainty.   On the interest rate front, the Fed has recently announced that it will pause its planned interest rate hikes for 2019 and instead more closely monitor the U.S. and other world economies. Th...

Understanding how your property taxes are calculated can often feel like unraveling one of the deepest mysteries of the universe. However, it’s vitally important that you get your arms around this tax, if you are subject to it, as it’s often a large expense that you may be saddled with for a lifetime. Property taxes can vary wildly, not only between different areas of the country, but even between different parts of the same municipality. Just how do property taxes work? Shouldn’t they be the same for everyone? First, Real Property Versus Personal Property When we refer to “property taxes,” what we really mean is “real property tax.” The term “real property” means the land you own and everything that is permanently affixed to it. For example, if you have a stick-built house, a garage, a shed with a permanent foundation — these are all things that would be considered “real property.” On the other hand, you may also have “personal property,” which is basically anything else th...

You’re ready to make changes to your home. The bathroom is the original from the 1980’s. The kitchen is avocado and orange. The built-in in the living room won’t hold your flat screen television. Sounds like it’s time to hire a contractor in Mesa. Do you need a handyman or contractor? Before you even pick up the phone to call a contractor like  Ken from  Hyre Construction  (480-490-1055)  or  Handyman George of George’s Repair Service (602-628-8906) , both of whom I recommend, take a bit of time to think about your project. Do you need shelves hung on the walls of your office? That’s a handyman’s job. By the rules of the Registrar of Contractors ( ROC ) in total the job a handyman is allowed to do is under $1,000. If you need a light hung up, and you need some drywall patched, perhaps a door or two are off and need to be adjusted, as long as the total billed amount doesn’t exceed $1,000, a handyman is the right person for the job. Are you thinki...