Congratulations! You are prequalified for a home loan. You have been saving for a down payment, and suddenly you realize there are additional costs associated with obtaining a home loan. These are called “closing costs. Closing costs are the fees and charges in excess of the purchase price of the property that’s due at the closing of a real estate transaction. Throughout the escrow process, there are third parties—such as your title company and your mortgage lender, that have performed services. Closing costs include the fees these professionals (as well as others) charge for services to final ..read more

Are you considering building a team for your real estate business? What an exciting time! As popular as real estate teams have become, keep in mind, not all teams are created equal. Splits, support, guidance, and deal opportunities vary greatly. Before we dive into why an agent would want to build a team or why they shouldn’t, let’s review different types of real estate teams. Here are some of the most common types of teams that exist: Employee/employer – Standard, requires no explanation. Leads assembly line – These types of teams are similar to a call center feel; Call this number, read thi ..read more

Marketing is the key to maximizing the revenue potential for so many products, and vacation rentals are no exception. For your property to stand out, remember that it’s more than just bedrooms and bathrooms, you’re selling a vacation destination. Think about what makes your property desirable. It might help to write down a list of the top 5 or 10 things that made you choose this property to purchase. Was it the location? The views? The outdoor space? A heated pool that can be enjoyed year-round? Chances are the same things that caught your eye will be the same features that’ll land you guests ..read more

What do consumers want from their real estate agent? High touch and a high level of service go hand in hand with agents who treat real estate as a profession. Those who stay educated and stay organized can operate a highly successful real estate business. In today’s digital-first world, a consumer can “comp” a property on their own. They can also get all the property information, neighborhood statistics and other important data that is typically provided by a real estate agent. As agents, we need to go the extra mile with the service we provide so that we can protect the value that’s associate ..read more

Any Realtor who has been in the Valley over the last several years should now be well aware of the historic neighborhoods in the central core of Phoenix as well as the surrounding cities in the Valley. It follows that the attention from the real estate community is all about the strong demand among buyers for historic houses, older neighborhoods, and their interesting or unique architectural styles. Together, these are the characteristics that define the historic neighborhoods, drive the market demand, and ultimately their economic value. July’s monthly newsletter for the Arizona School of Rea ..read more

As a buyer, there are certain contractual obligations you must meet when purchasing a home with lender financing. In lieu of paying cash, buyers are required to qualify for a loan in order to complete the purchase. The best practice is to complete a loan application with a lender and be prequalified before making an offer on a home. It’s the buyer’s responsibility to provide the required down payment and ensure that the buyer’s lender deposits the remainder of the purchase price into escrow prior to the close of escrow. How to Prepare to Make an Offer on a Home Not sure how to get started, how ..read more

Seems like an easy yes or no, right? The answer is like most, it depends. It depends on your goals, finances, and expectations. It also depends on the person. If you’re investing in a vacation rental and have a plan for managing it, then I say yes, it’s a good idea. If you think buying a house and turning it into a vacation rental means automatic returns on your investment without lifting a finger or hiring someone else to—you’re in for a surprise. More on that later. First, let’s review the state of the market for vacation rentals in Arizona. What’s the Vacation Rental Market Like in Arizona ..read more

When people see you as a leader in the real estate community, it’s common to get asked about the state of the market. I would be a multi-billionaire ten times over if I had a dollar for every time I hear… How is the housing market? How is Arizona doing? Are we in a bubble? Is this spike in home values and sales going to continue? Are you worried? That said, I’m still compelled to whip out the crystal ball from my back pocket and share my thoughts on the matter, so here goes. The State of The Real Estate Market Here’s the current theme. Buyers and sellers are crying and the real estate agents t ..read more

A historic home in Arizona? Almost sounds like an anomaly. Surely there is nothing old enough to be historic in a state founded in 1912… That is the popular perception among many people, but it is fundamentally incorrect. The problem stems from the perception of what historic really means. Preservationists accept the definition adopted at the federal level in the criteria for listing on the National Register of Historic Places – which is 50 years. Sounds like a long time ago, but it’s really not. In 2021, the 50-year rule puts the age threshold date for historic home status at 1971 (Yikes). In ..read more

When I started Tru Realty back in 2010, I was shocked by the quality of trained agents in the market. I was operating as an investor/property flipper on the commercial side of the business. It was clearly evident to me that the level of professionalism on the commercial real estate side of the industry is much higher than on the residential side. The problem (or opportunity) as I saw it was commercial agents treated real estate as a profession; on the residential side, more agents sold real estate as a hobby. When I started working in residential real estate I found myself listing properties a ..read more