Finding Opportunities in Fountain Hills Fixer-Uppers!

Whether you are buying a Fountain Hills home as an investment, as a vacation home or primary residence, there are good reasons to include fixer-uppers in your home search! Homes that need a little work tend to sell for less. You might also find a "diamond in the rough" in a preferred neighborhood that could provide an excellent return on investment.

You do not need to be an expert handyman to consider buying a fixer-upper. However, there are a few rules of thumb you'll want to follow to avoid getting in over your head. Here are tips to keep in mind!

1. Look for fixer-uppers in the best neighborhoods. Location plays a strong role in home value.

2. Avoid homes that have structural defects or serious damage. Labor-intensive projects can be more expensive in time and money then they're worth.

3. The ideal fixer-upper is a home that is basically sound, but outdated. Condos can provide excellent opportunities for interior renovations and resale. A word of caution - the condo association may have rules regarding the nature of renovations and materials allowed. It's a good idea to review the association rules and make sure your plans are viable.

4. Know what you can handle. Are you willing to give up a few nights and weekends to tear out carpeting, paint the walls, and refinish hardwood floors? Make a list of the tasks that you know how to do. Shop for your Fountain Hills home with your skill set in mind.

5. Get professional estimates for the repairs you can't handle yourself. For example, if the home inspection reveals a problem with the plumbing, have a plumber examine the issue and provide an estimate. You can place contingencies in your purchase offer to cover these situations. I will help you!

6. Use appropriate financing. Fannie Mae's HomePath Renovation Mortgage allows you to finance both the purchase and repair of the home with one loan, and one closing. The FHA "203K" mortgage allows you to finance new appliances, cosmetic updates and repairs along with your home purchase. Both are excellent programs, but they do have limitations on the degree of repairs that can be financed. I will refer you to trustworthy mortgage professionals who can tell you more about these options.

7. Work with a local real estate expert! I have worked with real estate investors for many years, and I can help you find the best opportunities in Fountain Hills real estate! Whether you are looking for Arizona properties that have potential for a quick return, or you have a buy-and-hold strategy in mind, I will find the homes that best match your needs.

Please contact me today!

Tina Nabers

Nabers Property Management & Real Estate

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Will Fountain Hills home buyers find fewer homes and higher prices?

Real estate trends for the Phoenix-Scottsdale metropolitan area are pointing to higher home demand throughout 2014, according to a recent HousingWire article. At first glance, it would appear that we could expect fewer homes on the market in Fountain Hills as a result.

But like all statistics and news headlines, it pays to look at the details within the facts! Let's break down what's happening and how it may affect Fountain Hills real estate.

First, the good news: home demand is up and likely to remain steady through 2014. Our local economy is adding jobs, and Arizona continues to attract new residents. We also have "boomerang buyers" returning to the housing market, thanks to a forgiving mortgage program by the FHA. We also have investors who continue to absorb distressed properties.

All these elements help support our improving home values, which is great news for Fountain Hills home sellers! Of course, many would-be sellers who postponed placing their homes on the market in recent years may be ready to test the water in 2014. As more home sellers enter the market, the resulting increase in home supply could tame future price increases.

However, the entry-level price ranges, generally including homes priced under $150,000, will continue to face limited inventory. This is where Fountain Hills home buyers will have some challenges. While we have fewer cash buyers in the market today, they are not limiting their investments to distressed properties. As foreclosures and short sales become harder to find, investors are casting their nets wider to secure affordable properties that will appeal to new households.

Will Fountain Hills home buyers find fewer homes on the market in 2014, and face higher prices? As it stands, this is very possible for price ranges below $150,000. This does not mean you won't be able to find an affordable home - but it does mean you should be pre-approved for your mortgage and work with an Accredited Buyer Representative who can help you!

For those of you thinking of selling your Fountain Hills home, now is the time to obtain expert advice and prepare for your opportunities on the market. Get started with my free e-book, "450 Ways to Sell Your Home Faster!"

Buying or selling Fountain Hills real estate? Contact me for your personal real estate consultation!

Tina Nabers

Nabers Property Management & Real Estate

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Fountain Hills Welcomes The Great Fair and Memorial Golf Tournament!

Fountain Hills will welcome visitors from near and far during the Great Fair of 2014! Now in its 27th year, the Great Fair has become one of Arizona's most famed events.

This year, the annual Great Fair takes place on February 21 through 23, from 10:00 a.m. to 5:00 p.m. Admission and parking are free!

The Great Fair is a juried art show that attracts nearly 500 highly-talented artists and craftsmen from around the world. Materials and mediums of every imaginable type are on display during the event.

One-of-a-kind artistic creations will be available for purchase, including sculptures, wood carvings, jewelry, paintings, photography, metals and more. This is the perfect place to find gifts, conversation pieces and accents for your home and yard.

Don't worry about the weather - the Great Fair takes place rain or shine! There are also plenty of shady areas and rest stops to keep you comfortable. While you're there, enjoy live music and entertainment, delicious food and the popular beer garden. After the fair, savor local cuisine at our fine restaurants. There is something to please every palate!

Pro golfers and aspiring amateurs return to Fountain Hills for the 2014 Memorial Championship Disc Golf Tournament! Tournament begins February 26, events end March 1. You must have a 2014 PDGA membership to enter as a contestant, but spectators are welcome.

Arizona's reputation as a golf mecca is well-earned, thanks to challenging, professionally-designed courses surrounded by breathtaking scenery. Come to Fountain Hills for the Great Fair, and stay for our 5 world-class public golf courses!

Let me be your guide to beautiful Fountain Hills! If you'd like to take a look at our wonderful homes for rent and sale, please let me know!

Tina Nabers
Nabers Property Management & Real Estate
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Winter Weather Warms Up Home Searches in Fountain Hills!

As much of the nation grapples with the most brutal winter in recent memory, homeowners in Fountain Hills can count their blessings! Our weather forecast calls for sunshine and temperatures in the 70's during the next two weeks. No snow, no windchill, no frostbite...no wonder so many people look to warm-weather states like Arizona for vacation homes and retirement property!

Home buyers from around the country are looking at homes for sale in places like Arizona and Fountain Hills right now. According to Trulia, as the mercury goes down, home searches in sunbelt states heat up! From December 1 through January 21, warm-weather states saw a 4.4% increase in home search activity, each time northern temperatures dropped by 10 degrees.

Specifically, home searches in metro Phoenix went up by 6.9% as temperatures dropped elsewhere! The only metro scoring higher in home search activity was Miami at 7.3%. (We may be biased, but the better real estate deals are here in Arizona!) As a whole, home searches in warm-weather vacation areas are up by an average of 5.5%.

Migration to sunbelt states has been going on for decades. This winter has provided extra incentive for residents of the frozen north to shop for better weather! And with our advanced medical centers, Fortune 500 companies, and excellent golf and recreation, the Phoenix-Scottsdale area will continue to attract home buyers. People may visit for the climate, but they stay for the lifestyle!

If you are thinking of selling your Fountain Hills home, now is the time to obtain expert advice and prepare for your opportunities on the market. Spring break is just around the corner, and our tourism season can turn into home buying season! Get started with my free e-book, "450 Ways to Sell Your Home Faster!"

Let me help you with home staging tips, top-dollar strategies, and more! Contact me for your personal home selling consultation. I'll be happy to share the latest homes sales activity and trends!

Tina Nabers

Nabers Property Management & Real Estate

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Want Top Dollar for Your Fountain Hills Home? Don't Sell on Your Own!

Whenever the Arizona real estate market is on a roll, Fountain Hills homeowners can be tempted to try and sell a home on their own. Especially when for-sale-by-owner services spring back up, promising big results for an up-front fee. But the truth is, you rarely do better going it alone! Here are just a few reasons why!

1. Trust. Real estate professionals adhere to a code of ethics and standards of conduct that protect home sellers and buyers alike. We are licensed and regulated. We are educated in many different areas of specialty. As resources for the community, we provide market information and guidance free of charge through websites, blogs, social media and more.

2. Price. Automated, online home values are very generalized and can be "off" by thousands of dollars! This is because they do not take condition and amenities into consideration. These values are a starting point for discussion, but should not be used as a price basis when selling - or buying - a home! Only an experienced real estate professional can provide an accurate comparative market analysis and insights on sales trends.

3. Negotiation. The objective of selling your home is to obtain the best possible sales price in the shortest amount of time. There's much more to it than listing a price and then sticking to your guns! Sales contracts and contingencies get complicated, and without tactful negotiation, deals don't happen. Real estate professionals are trained negotiators and skilled diplomats.

4. Exposure. The Multiple Listing Service (MLS) provides a database of homes for sale that is unmatched by any sale-by-owner service. Homes on the MLS are distributed to the largest and most popular real estate websites in the country, and can be viewed by home buyers worldwide!

Getting top dollar for your Fountain Hills home begins with using an experienced real estate professional! My 30 years of experience in Fountain Hills real estate is your advantage when you are selling a home. From market guidance, to home staging advice, to expert sales strategies, my proven methods will help your home stand out from the competition!

I have helped home sellers succeed throughout all market conditions! When you have questions about selling your home, call me! I will be happy to help you! 

 

Tina Nabers
Nabers Property Management & Real Estate
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Fountain Hills Home Prices Showing Gains

It isn't your imagination! Home prices are climbing in Fountain Hills, AZ!

2013 is off to a good start for much of the Arizona housing market. Here is a look at the latest trends!

According to Trulia, the median sales price for homes in Fountain Hills from December 2012 to February 2013 was $297,444.

This is an increase of 31.3% compared to the same period one year ago, or a gain of $70,944 in market value.

Shrinking home inventory is influencing the price trend. The actual number of home sales are down by 21.3%.

Another positive factor is the reduction of foreclosures on the market. Out of the 523 homes listed for sale, 179 of those are in some stage of foreclosure. This is still a higher ratio of distressed inventory than historical norms, but we have seen consistent reduction in distressed inventories.

It's an excellent sign that we are seeing more equity sales in the market. As home sellers recover equity, they are empowered to sell, and this is freeing up some of the pressure on home inventory. We are seeing high-quality homes come to market in the mid-to-upper price ranges. At the end of February 2013, the average listing price in Fountain Hills was $601,813.

In other areas of Arizona, home inventories remain a bit higher. Tucson in particular has more homes on the market today than at this same point last year. This is holding their market back from enjoying the level of price gains we are seeing in Fountain Hills.

Please remember that home price trends will vary one neighborhood to another, depending on recent comparable sales and the presence of any distressed homes. If you are interested in obtaining the current market value of your home, I would be happy to help you!

If you are thinking about selling your Fountain Hills home, my 30+ years of experience in Fountain Hills real estate will be your advantage! I will provide you with a complete home sale consultation to help you price your home correctly, and net top dollar from the sale.

Why wait? Contact me today for expert assistance!

Tina Nabers
Nabers Property Management & Real Estate
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Enjoy Holiday Events in Fountain Hills!

Ready or not, the holiday season is upon us! Whether you need a little help getting into the seasonal spirit, or just want to find good family entertainment, you'll enjoy these upcoming events in Fountain Hills!

Start with the "Stroll in the Glow" in downtown Fountain Hills on December 1, from 5:30 p.m. to 8:00 p.m.!

Experience the visual feast of 60,000 holiday lights and ornaments decorating the Avenue of the Fountains. Stores will be open late, so you have plenty of opportunity to browse our unique retailers along the Avenue. There will be carolers, a tree lighting ceremony, and an appearance by Santa himself, so bring the kids!

The Fountain Hills Theater presents "Christmas Jukebox" November 30 through December 23! This popular, always-original show features holiday music selected by the audience. Enjoy wonderful holiday memories, and make terrific new ones as these timeless songs weave together in an engaging performance. Tickets to the show also make a great gift!

They are also presenting "Annie" from December 7 through December 23. The plucky Orphan Annie will warm your heart in this classic family favorite.

The Fountain Hills Community Chorus offers two holiday concerts, Sunday December 2 at 4:00 p.m. and Monday December 3 at 7:00 p.m. The rich, four-part harmony delivered by this 70-member choir will amaze you. Tickets are $12 in advance, $15 at the door. For more information, call #602-318-5693.

Looking for more to do? The Chamber of Commerce has a list of events you can explore!

If you are visiting Fountain Hills during the holidays, why not put a new Arizona home on your wish list? When you are are ready to enjoy the splendor of panoramic, desert views from your own home, I'll be happy to help you! Contact me today about home buying in Fountain Hills!

Wishing you all the best this holiday season,

Tina Nabers
Nabers Property Management & Real Estate
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AZ Home Building Trends Boost Fountain Hills Home Values

The drought is over for new home construction in Arizona! According to MetroStudyReport.com, new home construction in the greater Phoenix-Scottsdale area is up by 66% compared to last year. Builders have raised their new home asking prices by an average of $15,000 during a six-month period in 2012.

The strength in home building activity is good news for area employment, which has experienced a 5% gain in construction jobs during 2012, according to the Phoenix Business Journal. In turn, these jobs help boost our local economy, spurring car sales, retail purchases, and generating spending on dining and entertainment.

But what does new construction mean for home sellers in Fountain Hills? Is there any cause for concern when Arizona home buyers can choose between new construction and an existing home for sale?

Here's the good news: aside from the local economic benefits, new home construction also tends to boost overall home values in the area. This is because home appraisers are looking at the most recent sales in a given area for like-kind properties. It's certainly preferable to have your home compared to newly-built homes on the market, instead of compared to foreclosure sales.

In fact, the median list price for a Fountain Hills home is averaging $364,000, which is 33% higher than a year ago. The median sales price for a Fountain Hills home is $315,000, which is 49% higher than last year. Nothing to sneeze at!

While it's true that home buyers can be attracted to a newly-built home for the bells and whistles, an existing home that is well-maintained in a good location has nothing to fear. Location is often the biggest factor in a home buyer's decision. You simply can't replace some of our beautiful homes in Fountain Hills at today's construction costs! This is just one reason why expert real estate marketing makes the difference when you are selling your Fountain Hills home!

If you are thinking of selling your home, contact me for more information about our Fountain Hills real estate market. I can show you the latest sales trends in your neighborhood, and give you direction regarding the price and sales strategies that would best apply to your home. Because I have over 33 years of real estate experience, I can help you succeed no matter the season, or the market conditions!
 

Tina Nabers
Nabers Property Management & Real Estate
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Fountain Hills Home Sales Show Fewer Distressed Properties

The weather may be cooling off, but home sales in Fountain Hills are heating up! Best of all, we are seeing fewer short sales and foreclosures in the market. Also, the ratio of short sales to foreclosures shows a sharp decline in foreclosures.

Here's how the Fountain Hills and Scottsdale, AZ distressed property ratios looked as of July 31, 2012:

• Zip code 85268 - short sales 14% of home sales; foreclosures 5%
• Zip code 85259 - short sales 16% of home sales; foreclosures 3%   
• Zip code 85255 - short sales 18% of home sales; foreclosures 2%
• Zip code 85268 - short sales 31% of home sales; foreclosures 5%

When considering the impact of distressed home sales, short sales are the lesser of two evils, because these sales are conducted using current fair market value.This preserves the market value of nearby homes. Foreclosures are often sold at a discount from fair market value, which can pull down values of surrounding homes.

Nationally, we are seeing a brighter picture across the board. HousingWire reports that nearly 2.5 million distressed homes will be removed from the "shadow inventory" during 2012.  There is also good news from Lender Processing Services, which reports that mortgage delinquencies are down by 30% since the peak of the housing crisis in 2010. 

If you're still uncertain about buying or selling a home in today's market, keep this in mind: short and foreclosures are a part of any housing market, even in the most robust economies. Waiting for these categories to "disappear" before you buy or sell a home isn't a realistic strategy.

For the latest Fountain Hills home sales data and market activity, contact me! I have over 30 years of experience in Fountain Hills real estate which will be your advantage when buying or selling a home!

Whether you are relocating to Arizona or you are already a resident of our sunny state, I can help you make the most of today's opportunities!

 

Tina Nabers
Nabers Property Management & Real Estate
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Home Buying vs. Renting in Fountain Hills, AZ

If you are a renter in Maricopa County, you may not realize that your cost of living could be cheaper as a homeowner!

A new study by Trulia compared the costs of owning a home against renting.Here's how the study worked and what it means for Fountain Hills.

Trulia examined rental and home sale markets in major metros, from June through August of 2012. When adding up the costs of home ownership, they considered the closing costs, property taxes, homeowner's insurance premiums, and mortgage loan interest. They also considered the effect of itemizing allowable home expenses from income tax.

For rental expenses, Trulia used the average rents for comparable properties and included renter's insurance premiums. They also used a 7-year term of home ownership vs. 7 years of rent for the purpose of the study.

And the result? For Phoenix, AZ, the cost of renting averaged $1,223 per month. The cost of home ownership averaged $625 a month. Homeowners are ahead by $598 a month!

Skeptical? The results are similar in Tucson, AZ. Renting averaged $1,172 per month; home ownership averaged $635 a month. Homeowners pocket the difference of $536!

There are situations where renting makes sense, especially for short-term occupancy. However, if you are looking at seasonal occupancy on an annual basis, ownership still serves you better in the long run. It all comes down to your personal needs, lifestyle, and long-term goals.

How do things look in Fountain Hills? Our proximity to Phoenix gives us similar price ranges for housing costs. But why not do some comparisons of your own? I have all the information you need about the beautiful homes for sale in Fountain Hills - and I can also help you find rental properties. Whether you wish to own or rent, there's one thing we can all agree on - Fountain Hills is a wonderful place to live!

With over 30 years of Fountain Hills real estate experience, I have the local expertise to guide you through our fast-changing Fountain Hills real estate market. If you are ready to enjoy the splendor of panoramic, desert views from your own home, let me show you how to get started. Contact me today about home buying in Fountain Hills!

Tina Nabers
Nabers Property Management & Real Estate
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Fountain Hills Real Estate and the Arizona Housing Recovery

There's more good news for the Fountain Hills real estate market! According to the National Association of Home Builders, four metropolitan areas in Arizona are shown in their Improving Markets Index: Phoenix-Scottsdale, Prescott, Tucson and Yuma.

Of the four Arizona metros, Phoenix-Scottsdale has experienced the strongest gain in home prices since 2011.

Cities named in the Index have shown at least six consecutive months of improvement in home prices, employment, and housing permits. Here's how it looks for Phoenix-Scottsdale:

• Home prices are up 13.6% from their low point in June 2011
• Employment has improved by 4.3% since Sept 2010
• Housing permits are up by 4.3% since March 2009

Arizona's housing recovery is also noted in a report by 24/7 Wall Street, which ranked Arizona as #1 in price improvement. According to their analysis, Arizona home prices increased 16.6% from July 2011 to July 2012. Statewide, the median home price as of July 2012 was $248,229.

We are still far from the market peaks of 2007. Distressed properties will continue to affect Arizona real estate for some time to come. However, it is the opinion of industry analysts that we have seen the bottom of the real estate market! With improvements to the short sale processes, continued low interest rates, and strengthening local employment, our home prices will improve at a gradual pace.

Fountain Hills is well-positioned for growth, having the advantages of natural beauty, ample recreation, and proximity to corporate centers, shopping and dining. If you are considering a move to Arizona, start by looking at the beautiful Fountain Hills homes available now!

Whether you are buying or selling a Fountain Hills home, put your trust in my 33 years of local real estate experience! I can help you make the most of today's opportunities in the Fountain Hills real estate market. I will also provide you the courteous, professional service you can count on! Contact me today for help with all of your real estate questions!

Tina Nabers
Nabers Property Management & Real Estate
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Mortgage News for Fountain Hills Home Buyers

What goes down, must come up! Due to recent pricing changes by Freddie Mac and Fannie Mae, mortgage interest rates may tick upwards after October 1, 2012. The government-sponsored mortgage monoliths are increasing the fees they charge to mortgage lenders by 10 basis points, which will increase costs for home buyers.

The motive behind the change is to even the playing field for investors and private capital. Since the housing crisis began, private money fled the mortgage market, leaving Freddie and Fannie guaranteeing the majority of residential mortgages. Now that housing is in recovery, it makes sense to get private capital back into the game. This spreads around the risks of mortgage financing and should reduce the odds of tax-funded bailouts in the future.

Naturally, any increase in lending costs will be passed along to the borrower. According to Bloomberg, the increase of 10 basis points will cost home buyers $4,000 over the life of a $200,000 mortgage. It will be largely transparent to the home buyer, as the increase will be in the form of slightly higher interest rates.

Given that median home prices in Fountain Hills and the greater Phoenix-Scottsdale area are hovering just under $200,000, the mortgage pricing changes should not disrupt anyone's home buying plans. After all, residential mortgage interest is tax-deductible, and the monthly payment impact in Bloomberg's example would be about $11.

Where the concern comes in, is that this pricing change is independent of market factors or economic policies. We have enjoyed low mortgage interest rates and affordable home prices for so long, that it's easy to take these conditions for granted - but they won't last forever. Now is the time to explore the beautiful Fountain Hills homes we have on the market!

As your Accredited Buyer Representative, I provide tremendous experience and local expertise to guide you through our fast-changing Fountain Hills real estate market. If you are ready to enjoy the splendor of panoramic, desert views from your own home, let me show you how to get started. Contact me today and find out more about home buying in Fountain Hills!

Tina Nabers
Nabers Property Management & Real Estate
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