North Scottsdale Public Parks

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north scottsdale park photoFamily friendly North Scottsdale as well as its communities of Sonoran Hills and Grayhawk, have several beautiful public parks for everyone to enjoy.  Ironwood Park, 18650 N. 94th Street, has amenities like a shaded playground and a lighted tennis court and lighted basketball court, making this a popular night-time destination.  Nearby Thompson Peak Park, 20199 N. 78th Place, has 4 lighted softball fields plus 2 full basketball courts, as well as a shaded playground.  Down the road is the community park of Grayhawk, which features a large playground as well as 2 baseball fields, 2 full basketball courts, 2 tennis courts, and 2 sand volleyball courts (all lighted) plus 2 soccer fields as well as a large open grass area.

Scenic Sonoran Hills Park, 7625 E. Williams Drive, features 10 acres of space, including a softball field, lighted tennis courts, 2 full lighted basketball courts, picnic areas as well as 2 separate playground areas for different age ranges.  To the east is the Florence Ely Nelson Desert Park, 8950 E. Pinnacle Peak Rd, which features amenities such as a multi-use room that can be reserved, as well as a spray pad, playground, full lighted basketball court, picnic areas as well as a desert botanical nature trail.   For the fitness-minded, Pinnacle Peak Park, 26802 N. 102nd Way, features a picturesque hike on a 1.75 mile trail (each way, no loop) with 1,300 feet elevation gain.  Rock climbing is also available in designated areas in this 150 acre park which also has a restroom, and 7 drop-in ramadas with picnic tables.

Staging and Design in North Scottsdale

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contemporary-dining-roomWhether you are a homeowner seeking to sell your home, or a homeowner who wants to transform your space, there are some general principles of good design that will maximize your space, no matter your ultimate goal.  For example, the living room or great room is usually a room that most potential buyers will view immediately upon entering your home, and it’s a room that most homeowners enjoy on a daily basis.

First, consider the art of furniture arrangement.  There are a few simple design rules that are easy to remember and follow when it comes to placing furniture.  Always create a comfortable walking space between a sofa and a coffee table, with a minimum of 12 inches but 18 inches is ideal here.  Any furniture in a conversation area should be no more than 8 feet apart.  Appropriate lighting for reading in your seating arrangement is a must.  (This lighting will both brighten and showcase your space for potential buyers, as well as help you to maximize your own enjoyment of this space).  Finally, anchor your conversation area with rugs if you have hardwood or tile floors.

Second, address the arrangement of accessories in your space.  Accessories and artwork are small investments in modernizing your home as these details really count.  If you’re staging your home for sale, keep accessories and art that are universal, and that don’t showcase your personal hobbies or tastes.  If you’re redesigning your home, then be sure to surround yourself with all of the things you love.  Regardless of your motivation, there are some general design rules when it comes to accessories.  Group in odd numbers, preferably with three or five pieces.  Try to group accessories in different heights; for example, use one tall, one small and one medium piece, to create visual interest.  Finally, try to always incorporate a living accessory such as a plant or shell into each room, to infuse life into the room.

Finally, the art of wall arrangement is the last item to consider when it comes to staging or redesign.  Wall art can help to add balance as well as texture or drama to a room.  Wall art can be paintings, mirrors, sconces, shelving, or ironwork.   The right height of this art is critical.  Generally speaking, a center of a painting should be at eye level as you are entering the room.  Also, scale is very important.  For example, hanging any type of art over a couch, the art or grouping should be at least 3 feet across, but ideally is 4 to 5 feet across.  Finally, in the case of groupings of wall art, don’t separate artwork more than 5 inches away from each other.

These are just some starting points of staging and home design, as the possibilities are endless.  When all is said and done, the art of staging a home is similar to the art of redesign in that the goal is to create a home in which someone would aspire to live.  If you will continue to live there, then all the better!

Contact Us to learn more.

Buyers Often Overestimate Mortgage Requirements

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Sixty-five percent of recent survey respondents feel home ownership is a dream come true or an accomplishment to be proud of. But when it comes to achieving that dream, many consumers may sit on the sidelines because they’re overestimating what it takes to make it come true.

Many consumers have misperceptions about the credit score, down payment, and income requirements needed to qualify for a mortgage, according to a survey released by Wells Fargo and Ipsos Public Affairs of more than 2,000 U.S. adults. A high percentage of home owners are still unaware of recent efforts by lenders and the government to enhance the availability of credit through lower down payment programs.

Two-thirds of consumers surveyed believe they need a very good credit score to purchase a home, with 45 percent believing a “good credit score” is over 780 (many lenders consider scores over 660 to be “good”). Consumers also tend to overemphasize credit scores as a single factor that determines whether they’ll be able to buy a home. But a credit score is not the sole criteria. Many lenders will consider a loan applicant’s entire financial picture, including income, assets, debt-to-income ratio, credit history, credit scores, and the amount of the loan compared to the value of the property.

Also, the survey found that consumers tend to overestimate the down payment funds needed to qualify for a home loan. Thirty-six percent of respondents said they believe a 20 percent down payment is always required, the survey showed. However, down payment options are available as low as 3 percent or 3.5 percent for some loan programs.

“The American aspiration for home ownership is alive and well,” says Franklin Codel, head of mortgage production for Wells Fargo Home Mortgage. “Home ownership has traditionally been the vehicle through which many people build wealth and financial stability. Home-buying and its downstream financial benefits strengthen the U.S. economy with strong neighborhoods and vital local businesses. For the millions of consumers who express a desire to own a home, it’s essential that lending and housing professionals provide clear, simple information to build consumer confidence about buying a home.”

Source: “Consumers’ Misconceptions Temper Desire for Home Ownership,” Business Wire (June 16, 2015)

Owners Place High Value on Good Yards

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Don’t underestimate the importance of a beautiful yard to home owners and their neighbors. 84 percent of adults say that the quality of a home’s landscape and yard would affect their decision on whether to purchase a home or not, according to a new survey of more than 2,000 adults conducted by the National Association of Landscape Professionals.

The majority of Americans want to live amid nice landscaping. The survey found that 91 percent of Americans believe it is important to live in close proximity to trees, grass, or nice landscaping. Midwesterners are the most likely to rate the importance of landscaping the highest (at 94%), followed by the West (89%) and Northeast (87%).

“Across the board, the survey reveals that Americans deeply value surrounding natural elements and yards where they can spend time outside their homes,” according to the National Association of Landscape Professionals.

Eighty-four percent of home owners surveyed said that it is important to have their yard well-maintained, and 71 percent also say it’s important for their neighbors to have well-maintained landscapes as well. But the survey finds that only 33 percent of Americans say they believe they have the knowledge and skills to keep their lawn and plants healthy and appealing.

Study: Home Ownership Linked to Happiness

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Home ownership can lead to higher levels of well-being, according to data from the OECD Better Life Index, which gauges the quality of life worldwide by factoring in such things like housing, jobs, civic engagement, health and safety.

The heightened sense of happiness that comes from home ownership may be more than just getting a new home but more closely tied to the basic need for shelter, says Aida Caldera Sanchez and Caroline Tassot, authors of an analysis about the index. Also, home ownership can lead to status and independence – qualities that often are linked to happiness, their analysis shows.

On the well-being index, housing outperformed all the all other indicators monitored – like education, safety, and environment – by the highest amount in the Midwest, with 75 percent of the states ranking housing as most important to happiness. In the South, housing tops all other indicators in 70.6 percent of the states, and in the West housing was tops in only 15 percent of the states compared to the other indicators.

View how housing stacks up in your area at the OCED Regional Well-being website.

Source: OCED Regional Well-being and “Homeownership Linked to Happiness,”

Scottsdale Area – Year to Date Residential Activity Report

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Here are year to date Scottsdale area home sale activity statistics by zip code.

Scottsdale Area – Year to Date Residential Activity Report

For 01/01/2015 To 4/23/2015

Property Type Zip Code Current Active New Pend Sold Sold Volume Average Sales Price ADOM CDOM % Of List
Residential 85251 411 564 90 309 99,588,069 322,291 84 90 96.0
Residential 85252 1 2 1 0 33 33
Residential 85253 489 361 38 123 182,010,449 1,479,760 165 191 93.3
Residential 85254 374 506 77 260 107,960,547 415,233 85 95 96.7
Residential 85255 809 709 88 358 270,814,325 756,465 129 148 96.0
Residential 85257 131 245 51 170 37,785,197 222,266 72 80 96.8
Residential 85258 434 480 59 257 109,645,377 426,636 100 111 96.1
Residential 85259 304 324 50 160 95,798,412 598,740 121 136 96.4
Residential 85260 328 444 73 262 110,193,287 420,585 92 101 96.8
Residential 85262 577 358 52 163 164,182,571 1,007,255 187 215 95.6
Residential 85263 128 77 22 43 19,312,450 449,127 179 201 95.2
Residential 85264 3 2 0 0 139 135
Residential 85266 285 262 48 96 65,692,284 684,295 129 146 96.9

Business Cycles and Buying a Home

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Recession and Expansion

buying_home_cycleThere are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and…

…they buy new homes.

Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates even further. If it slows enough, we have a recession.
During such a time, fewer people are buying homes. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment – perhaps because of a layoff in the family.

Supply and Demand

When the supply of available houses is greater than the supply of buyers, appreciation may slow and prices may even fall, as happened in the early eighties and the early to mid-nineties.
If you are lucky enough to purchase a home during a slow period, you can be reasonably certain the economy will begin to show strength again. At times, real estate values may even surge drastically. In many regions of the country, this is precisely what occurred in the late eighties and nineties.

Should You Try to “Time the Market”?

One problem with attempting to time your purchase to the business cycle is that no one can accurately predict the future. Another challenge is that interest rates are generally higher during a depressed market and income may not be keeping up. For that reason, fewer people can qualify for a home purchase than in more prosperous times.

Why You Should Not Wait

Plus, this strategy generally works best for first-time buyers. People who already have a home usually need to sell it in order to buy their next one. If a “move-up” buyer wants to buy a home during a depressed market, that means they usually have to sell one during the slow market, too. If a seller wants to sell his home to take advantage of a “hot” market when prices are fairly high, they generally have to buy their next home during that same hot market.
It tends to equal out.

Finally, the business cycle can change over time. Since 1983, we have had two fairly long expansions with only a slight recession in between each. You would not want to wait nine years to buy a home, would you? You could miss out on a substantial amount of appreciation by waiting, and end up paying much higher prices.

Tips on Getting Your Home Ready to Sell

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When conversing with real estate agents, you will often find that when they talk to you about buying real estate, they will refer to your purchase as a “home.” Yet if you are selling property, they will often refer to it as a “house.” There is a reason for this. Buying real estate is often an emotional decision, but when selling real estate you need to remove emotion from the equation.

You need to think of your house as a marketable commodity. Property. Real estate. Your goal is to get others to see it as their potential home, not yours. If you do not consciously make this decision, you can inadvertently create a situation where it takes longer to sell your property.

The first step in getting your home ready to sell is to “de-personalize” it.

De-personalize the House

The reason you want to “de-personalize” your home is because you want buyers to view it as their potential home. When a potential homebuyer sees your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about owning the house. Therefore, put away family photos, sports trophies, collectible items, knick-knacks, and souvenirs. Put them in a box. Rent a storage area for a few months and put the box in the storage unit.

Do not just put the box in the attic, basement, garage or a closet. Part of preparing a house for sale is to remove “clutter,” and that is the next step in preparing your house for sale.

Removing Clutter

(Even though it may not be clutter to you)

This is the hardest thing for most people to do because they are emotionally attached to everything in the house. After years of living in the same home, clutter collects in such a way that may not be evident to the homeowner. However, it does affect the way buyers see the home, even if you do not realize it. Clutter collects on shelves, counter tops, drawers, closets, garages, attics, and basements.

Take a step back and pretend you are a buyer. Let a friend help point out areas of clutter, as long as you can accept their views without getting defensive. Let your agent help you, too.

Kitchen Clutter

The kitchen is a good place to start. First, get everything off the counters. Everything. Even the toaster. Put the toaster in a cabinet and take it out when you use it. Find a place where you can store everything in cabinets and drawers. Of course, you may notice that you do not have cabinet space to put everything. Clean them out. The dishes, pots and pans that rarely get used? Put them in a box and put that box in storage, too.

You see, homebuyers will open all your cabinets and drawers, especially in the kitchen. They want to be sure there is enough room for their “stuff.” If your kitchen cabinets, pantries, and drawers look jammed full, it sends a negative message to the buyer and does not promote an image of plentiful storage space. The best way to do that is to have as much “empty space” as possible.

For that reason, if you have a “junk drawer,” get rid of the junk. If you have a rarely used crock pot, put it in storage. Do this with every cabinet and drawer. Create open space. If you have a large amount of foodstuffs crammed into the shelves or pantry, begin using them – especially canned goods. Canned goods are heavy and you don’t want to be lugging them to a new house, anyway – or paying a mover to do so. Let what you have on the shelves determine your menus and use up as much as you can.

Beneath the sink is very critical, too. Make sure the area beneath the sink is as empty as possible, removing all extra cleaning supplies. You should scrub the area down as well, and determine if there are any tell-tale signs of water leaks that may cause a homebuyer to hesitate in buying your home.

Closet Clutter

Closets are great for accumulating clutter, though you may not think of it as clutter. We are talking about extra clothes and shoes – things you rarely wear but cannot bear to be without. Do without these items for a couple of months by putting them in a box, because these items can make your closets look “crammed full.” Sometimes there are shoeboxes full of “stuff” or other accumulated personal items, too.

Furniture Clutter

Many people have too much furniture in certain rooms – not too much for your own personal living needs – but too much to give the illusion of space that a homebuyer would like to see. You may want to tour some builders’ models to see how they place furniture in the model homes. Observe how they place furniture in the models so you get some ideas on what to remove and what to leave in your house.

Storage Area Clutter

Basements, garages, attics, and sheds accumulate not only clutter, but junk. These areas should be as empty as possible so that buyers can imagine what they would do with the space. Remove anything that is not essential and take it to the storage area.

Or hold a garage sale.

The Effect Changing Jobs Has on Buying a Home

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changes-signFor most people, changing employers will not really affect your ability to qualify for a mortgage loan, especially if you are going to be earning more money. For some homebuyers, however, the effects of changing jobs can be disastrous to your loan application.

How Changing Jobs Effects Buying a Home

Salaried Employees

If you are a salaried employee who does not earn additional income from commissions, bonuses, or over-time, switching employers should not create a problem. Just make sure to remain in the same line of work. Hopefully, you will be earning a higher salary, which will help you better qualify for a mortgage.

Hourly Employees

If your income is based on hourly wages and you work a straight forty hours a week without over-time, changing jobs should not create any problems.

Commissioned Employees

If a substantial portion of your income is derived from commissions, you should not change jobs before buying a home. This has to do with how mortgage lenders calculate your income. They average your commissions over the last two years.

Changing employers creates an uncertainty about your future earnings from commissions. There is no track record from which to produce an average. Even if you are selling the same type of product with essentially the same commission structure, the underwriter cannot be certain that past earnings will accurately reflect future earnings. Changing jobs would negatively impact your ability to buy a home.

Bonuses

If a substantial portion of your income on the new job will come from bonuses, you may want to consider delaying an employment change. Mortgage lenders will rarely consider future bonuses as income unless you have been on the same job for two years and have a track record of receiving those bonuses. Then they will average your bonuses over the last two years in calculating your income.

Changing employers means that you do not have the two-year track record necessary to count bonuses as income.

Part-Time Employees

If you earn an hourly income but rarely work forty hours a week, you should not change jobs. There would be no way to tell how many hours you will work each week on the new job, so no way to accurately calculate your income. If you remain on the old job, the lender can just average your earnings.

Over-Time

Since all employers award overtime hours differently, your overtime income cannot be determined if you change jobs. If you stay on your present job, your lender will give you credit for overtime income. They will determine your overtime earnings over the last two years, then calculate a monthly average.

Self-Employment

If you are considering a change to self-employment before buying a new home, don’t do it. Buy the home first.
Lenders like to see a two-year track record of self-employment income when approving a loan. Plus, self-employed individuals tend to include a lot of expenses on the Schedule C of their tax returns, especially in the early years of self-employment. While this minimizes your tax obligation to the IRS, it also minimizes your income to qualify for a home loan.

If you are considering changing your business from a sole proprietorship to a partnership or corporation, you should also delay that until you purchase your new home.