Title Insurance.... it shows up on your closing settlement statement, it's hundreds of dollars, and most people have no clue what it is, why it's there or why they HAVE to buy it. (Well, you don't HAVE to buy it, if you're paying cash for your real estate. But if you are financing your purchase (like 99% of people do) then your lender will REQUIRE you to purchase title insurance to protect THEM, not YOU. Owners policies are available, and you should get one ...) There is a great overview of … [Read more...]
Phoenix condos are Going NUTS!
For those who've been following the Phoenix real estate market recently, you've no doubt noticed a significant slowing in the single-family home (SFH) market. This shouldn't be that big a surprise given how insane that part of the market was in the first half of the year. SFH's were flying off the market, inventory was incredibly low and appreciation rates were staggering. As I've blogged here, that market HAD to slow down--it simply wasn't sustainable at that torrid pace. Now we're seeing … [Read more...]
On Bad Real Estate Agents
I am a real estate agent, and so is my lovely bride. I happen to think we are pretty good at it. Helping people buy and sell real estate is our job. It's how we pay the mortgage and feed the children. Given that, it's important that we do it well. So we always "give it 110%". There are a lot of real estate agents. Something like 9,000 in the Phoeinx area. That's a lot of competition. Competition is good--it encourages everyone in the profession to do better. Why then are there so many … [Read more...]
A True FSBO Story
For those that haven't read the previous post, or who don't know what "FSBO" stands for... it's For Sale By Owner. You know, when someone decides to sell their home themself, rather than utilize the services of a real estate agent. In a market like us Phoenicians are currently in, it seems like it'd be easy to sell a home yourself. Heck, you could probably sell a cardboard box or a tin shed if you just plant a sign in front of it. Well.... maybe not. I do see quite a few FSBOs moving … [Read more...]
For Sale By Owner (FSBO)
For Sale By Owner, also know as "FSBO". The idea here is you can sell your house yourself, thereby saving all that commission money you pay a REALTOR®. Granted, I am a REALTOR®, so I am a bit biased in what I am going to say here. “Why in the world would you want to put the sale of the most valuable asset you own into non-professional hands?” I am NOT saying that people out there are non-professional. What I am saying is that unless you sell real estate for a living, you are NOT a real … [Read more...]
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The Phoenix Real Estate Guy was started by Jay Thompson, and I have a little blogging problem... he liked to say...