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Real Estate

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Dayv Morgan

By Dayv Morgan

At about 50,000 people, the city of Maricopa is significantly smaller than Maricopa County, which boats a population of 4.2 million.

Despite our small-town feel, Maricopa does almost double the ratio of VA home loans over the Maricopa County housing market.

Between January and September, VA loans made up 12.4 percent of the loans for closed home sales in the city. Maricopa County’s VA loan figure was 6.9 percent over the same period.

Because VA home loans require veterans to occupy the homes they purchase, it could safely be assumed we have a very patriotic city with twice as many veterans and active duty servicemembers purchasing homes per capita as the Phoenix area.

There are many benefits for those who qualify for a VA loan. According to the U.S. Department of Veterans Affairs, generally there is often no down payment unless required by the lender, no private mortgage insurance, no credit score requirement and VA loans can also be used to refinance an existing home.

Veterans and active duty servicemembers who meet certain length-of-service requirements are usually eligible for a VA loan, along with other certain groups of individuals. To learn if you are eligible, call the VA at 1-877-827-3702.

Dayv Morgan, HomeSmart Success

844-811-7653

DayvMorgan@gmail.com


This column appears in the November issue of InMaricopa.

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Dayv Morgan

By Dayv Morgan

The end of summer brings with it the cooling of the Maricopa housing market.

The affordable housing in the city makes it a popular location for new families who try to plan their purchases toward the end of the school year so they can move over the summer break. Generally, things tend to slow down slightly in the fall after school starts and we get closer to the holidays.

Between October and December 2016, the median sold price decreased each month by $1,000.

2016
October: $174,000
November: $173,000
December: $172,000

Many anticipate a large demand from winter visitors or Canadians purchasing during these months. While this may be true in one local subdivision, the overall market tends to be slightly down as autumn also marks a time of year when houses take longer to sell.

Houses sat on the market for the longest amount of time last year during December at an average of nearly 82 days. October came in second at almost 80 days.

The number of listings that went under contract in 2016 was lowest in December and highest in March.

Province is often the exception to the trends. The retirement community is usually slow in the summer, but sees an uptick in activity in the fall when winter visitors make their way into the city.

Province homes under contract by month in 2016:
July: 5
August: 6
September: 8
October: 10
November: 20

Dayv Morgan, HomeSmart Success, 844-811-7653, dayvmorgan@gmail.com


This column appears in the October issue of InMaricopa.

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Photo by Mason Callejas
  1. 43335 W. Little Drive

The most expensive home sold in Maricopa Aug. 16-Sept. 15 has been called “the castle” by neighbors and is noted as one of the most luxurious in town. It backs up to The Duke golf course and includes an RV gate and three-car garage. The house first sold in 2004 for $313,000 and then dove to $177,000 in 2011 before doubling its value in 2012 to $370,000. Its sale price this year is another 23-percent improvement.

Sold: Sept. 15
Purchase price: $455,000
Square feet: 2,851
Price per square foot: $159.59
Days on market: 133
Builder: Hacienda
Year built: 2003
Bedrooms: 4
Bathrooms: 2.5
Community: Rancho El Dorado
Features: Tons of custom features, from knotty elder doors and roman blinds to a granite table named “The Continent” and an outdoor pergola with a heated pool and pebble tech spa.
Seller’s agent: Peter Ashijian, Ahwatukee Realty
Buyer’s agent: Mary Ann Toohey, The Maricopa Real Estate Company

  1. 20470 N. Lauren Road, Homestead North, $375,000
  2. 22265 N. Van Loo Drive, Rancho El Dorado, $332,000
  3. 19500 N. Lariat Road, Glennwilde, $320,000
  4. 44544 W. Granite Drive, Cobblestone Farms, $304,000

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Photo by Mason Callejas

1. 41322 W. Lucera Lane

The least expensive home sold in Maricopa Aug. 16-Sept. 15 was an LGI home in Glennwilde. Listed as a short-sale, it sold for $6,500 under the asking price. The three-bedroom, 4-year-old house is 1,393 square feet on a 5,457-square-foot lot. It was previously listed in 2015 for $160,900.

Sold: Aug. 24
Purchase price: $121,000
Square feet: 1,393
Price per square foot: $86.86
Days on market: 122
Builder: LGI Homes
Year built: 2013
Bedrooms: 3
Bathrooms: 2
Community: Glennwilde
Features: Reverse osmosis, full master suite, built-in microwave, two-car garage
Seller’s agent: Coree Adams, The Maricopa Real Estate Company
Buyer’s agent: Bryan C. Adams, The Maricopa Real Estate Company

2. 37167 W. Mondragone Lane, Sorrento, $136,900
3. 36553 W. Pampoloma Ave., Tortosa, $139,000
4. 46156 W. Barbara Lane, Maricopa Meadows, $143,500
5. 41368 W. Parkhill Drive, The Lakes, $145,000


This item appears in the October issue of InMaricopa.

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By Pat Lairson

The city of Maricopa is certainly on the map for many homebuyers as an affordable, safe and attractive place to live. For these reasons, and as prices go up all over the Valley, there is increased demand for houses in Maricopa.

January-July
Median price 2017 – $193,416,  2016 – $176,041
HOA homes sold 2017 – 1,080, 2016 – 1,061

Current
In terms of number of houses sold and average sold price, 2017 has already proven to be a great year for Maricopa real estate. Here are some current numbers to educate you on the Maricopa real estate market.
Looking at the first 6 months of 2017, the median price of homes sold is already an average of 9 percent higher than last year. The current median price of a home sold during this time period was $193,416, compared to last year with a median price of $176,041. The number of homes sold in 2017 through July, is about 1,080 single-family dwellings in an HOA subdivision.
Inventory is holding at about a 60-day supply of homes, which is considered somewhat low. New-builds are not always included in these figures, as only spec homes are usually added to the Multiple Listing Service. There has been a substantial growth with new builders continuing to build and buying up empty lots in various subdivisions. Fulton for example will be building approximately 400 new homes in Glennwilde, while DR Horton covers the remaining empty lots in that subdivision.
The rental market is going up, too. Inventory has held steady at just under 30 rental homes available at any given time in 2017. The average rental price is $1,180 a month.Many homes are getting multiple applications. There is still a loan program available that can help renters become homeowners by offering a no-down-payment assistance option.This is helping renters with good credit but limited funds become homeowners in this competitive rental market.

Future
The real estate forecast from many real estate sources for 2018 is still very positive.Home prices are predicted to rise at a steady but reasonable pace. Interest rates maycontinue to rise but at a modest pace as well. The demand for housing is predicted tocontinue in the Phoenix area overall, according to the Home Buying Institute.
Maricopa has some wonderful, new, commercial industry coming to help support the residential needs, too. As long as supply remains steady, we should see a year very much like 2017.

Pat Lairson is a Realtor with Maricopa Real Estate Company. She can be reached at 520-280-5862 or PatLairsonRealtor@gmail.com.

Chris Dunham (left) and John Morgan

Marc David Montgomery and the Home Bargain Planet team have been bought out by Keller Williams Luxury Group and will help to spearhead The Real Estate Guy and Associates segment directed by top selling agent Chris Dunham.

John Morgan, CEO of Luxury Group, says it was a victory for his two offices located in Tempe and Gilbert: “Let the invasion begin! Landing this team we felt was of vital importance as our group markets luxury homes all over the valley, and Maricopa is a great place for that. Province and some of those big marvelous golf lot homes in Rancho El Dorado are great targets for our unique brand to market. Since Chris Dunham is all over the valley and is lead generating machine in and of himself, for just attracting buyers of every price point, we are very lucky to have him and Mr. Montgomery.”

Dunham and Montgomery worked together for three years at John Hall and Associates mostly during the real estate crash selling and procuring HUD Homes. As they sold home price points which stayed under the crashing market, their work not only paid off in the amount of deals they were producing together, but is also now being paid off by the vision they developed of opening their own company together in the future.

“I am a one man show, gunslinger of the home purchase, if you will,” Dunham said. “But I am getting older and the knees are maybe weaker, so I just saw that it was the right time with my boy Marc to make this happen. I think we’re going to do a good job together and make a revolutionary impact on the real estate market, not only in Maricopa but pretty much all over the state.”

“I have not regretted any decision I have made since coming back to America in 2005. Not one.” Montgomery said. “I appreciate every Realtor and team I have ever worked with and trained under. I specifically would like to show my gratitude to Dayv Morgan and Pete Marion of Homesmart Success. I love those guys!”

After several weeks of negotiations with the many different brokerages for their business, Dunham and Montgomery chose Keller Williams Luxury Group. They felt the decision was very difficult so they basically deferred to their wives to help make the final decision. Carey Han is also joining the team.

602-799-7344


This article appears in part in the September issue of InMaricopa.

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Pat Lairson

By Pat Lairson

Buying or selling your home is one of the biggest financial decisions you can make. In fact, it can make or break you.

Making the wrong decision can affect you legally, financially, emotionally and for a very long time. Choosing the right Realtor is vital when selling or purchasing a home. It can take the pressure off you and help ensure your home sale or purchase gets completed.

So how do you pick the right Realtor to help you buy or sell your home?

You may look at a Realtor as a salesperson, but a better title would be a manager. A Realtor manages the process from beginning to end. There are many things that can go wrong in a transaction, but a good Realtor knows how to minimize potential problems from the start and have available solutions to problems if they do come up.

They can help you get your home ready to sell and help you get prepared to buy. Whether buying or selling, one of the worst things that can happen is to go under contract on a home and not be able to complete it. This should not happen if the necessary pre-work is done and good management is in place.

  1. Interview your potential Realtor. Ask them about any problems that could arise and how they would handle it. Talk to other buyers or sellers they are representing. Are they happy with this Realtor? Discuss a few scenarios of “what ifs” and listen to their response.
  2. Is your Realtor available? Find out what hours your Realtor works. Some Realtors don’t work weekends. You want a Realtor that is available when you are.
  3. Ask about marketing. How does the Realtor plan to market your home? Have them show you other clients’ homes they have represented and look at how they write up the listing and what the photos look like.
  4. Getting a recommendation from friends and family is a good place to start, but you should also do your own research. Does the Realtor know the area you live in or want to live in? A good Realtor should be able to connect you to great lenders and other vendors for repairs or other transaction needs.

Maricopa has many local Realtors to choose from. Taking the time to do your homework upfront to find the right Realtor can save you time and money in the end.

We are still in a robust real estate market with no signs of slowing. We are holding at just under 300 HOA subdivision homes currently for sale. The average price of active listings is about $102 per square foot.

Pat Lairson, Realtor, 520-280-5862, PatLairsonRealtor@gmail.com


This column appears in the September issue of InMaricopa.

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Jeremy Winegard

By Jeremy Winegard

If you own a home, you’ve probably been curious as to what your home is really worth. After all, it’s the biggest purchase you’ll probably make in your life. So, you hop on to Zillow and you get their “Zestimate” and now you know, right? Not so fast.

Zillow, along with a host of other online Automated Valuation Models (AVMs), are based on algorithms that look for correlations between property data and calculate a value based on that information. Simply put, this algorithm allows visitors to quickly find a home value estimate by just searching an address.

While that’s all well and good, the calculations don’t take into account everything that a true Comparative Market Analysis (CMA) would. For example, what about that $30,000 backyard that you had put in? The $15,000 in upgrades you made in the kitchen? And the unique size or location of your lot? Probably most importantly, how does your home compare to a similar home in your neighborhood that has actually sold?

“Zestimates” and other AVMs don’t really dig into those facts. But a CMA that’s put together by a Realtor will.

To get an in-depth understanding of what your home’s true value is, and what the market will actually bear, you should contact a Realtor who can put together a CMA that is customized for your home. This gives you the best, most detailed and most accurate valuation based on all of the facts of the property.

And when you decide to sell, basing your list price suggested by the CMA greatly increases the odds that the buyer’s appraisal will support your asking price. Remember, if an appraisal comes in lower than the asking price, the bank will not make the loan.

If you’re curious about your home’s value, whether you’re looking to sell right away or not, feel free to contact me. People are genuinely curious about their home’s value, and I’m more than happy to help them get the facts they need.

Jeremy Winegard is a Realtor and accredited buyer’s representative with Revelation Real Estate.


This column appears in the August issue of InMaricopa.

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Pat Lairson

 

By Pat Lairson

As children prepare to go back to school this month, even if you don’t have children you can feel the effects of school starting throughout the city. We drive just a little slower through our subdivisions, and the crosswalks are filled with children walking to and from school.

As a parent, how much did the school your child attends affect your decision to buy the home you are in? How do school ratings affect the property values in a city overall?

As a Realtor, I get asked by buyers about the schools in Maricopa. I usually will hand out a list of schools including the charter schools and community college. A question like, “Are the schools in Maricopa good?” is a loaded question. What makes a school good?

There are usually so many questions within that question that a simple answer cannot be applied. I will direct the buyer to the Maricopa Unified School District website and the charter school websites. There is a wealth of information there about programs that can help a parent decide what school is best for their child. I also refer a parent to websites like Schooldigger.com, which uses a 5-star rating system based on a number of different factors including enrollment, student/teacher ratios and test scores.

In a 2016 Realtor.com study, it was found that homes in the best school districts, on average, sell for higher prices than similar homes in less-popular school districts. Also, one out of five homebuyers said they would pay 6 to 10 percent above their budget for the right school. One out of 10 would double that to 20 percent. So, school ratings can affect property values along with many other factors.

Maricopa is a unique city, though, in that there are multiple schools a parent can choose from within a short distance of each other.

There are 299 single-family HOA subdivision homes on the market for sale. August typically slows down a bit as families adjust to school and a schedule shift. The lowest-priced home is listed at $149,900, and the highest price is $479,900.

 

Pat Lairson

The Maricopa Real Estate Company

520-280-5862

Patlairsonrealtor@gmail.com

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Pat Lairson

By Pat Lairson

Whether renting or owning, everyone needs a place to live. With the price of rents soaring across the Valley, why do people choose to still rent over buying?

The average rental amount in Maricopa is $1,200 a month, and the average rental price in Chandler is $1,811 a month. It takes about three years from the time you purchase your home to gain enough equity to sell it again and have some equity left to put in your pocket. If you know you will live in a certain area for up to three years or are OK to become a landlord should you move, then buying a home now should be on your to-do list.

If you choose to proceed to buy a home, the first step is to get prequalified. The three most typical loan types are conventional, FHA and VA. All require different criteria and different amounts of a down payment.

Any loan where a buyer does not put 20 percent of the purchase price down usually results in PMI, or a private mortgage insurance cost added to your monthly loan amount. In the state of Arizona your taxes and home insurance are impounded into your escrow account so the monthly mortgage you pay will include these two items.

There is still a No Down Payment Assistance program available for buyers who have little or no down payment or simply want to use this program instead of their own funds. It is called Home Plus, and here are some of the qualifications for this program:

  1. AZ E-housing gift amount is between 3 percent and 5 percent, depending on the type of loan, that can go toward down payment or closing costs.
  2. Maximum annual income limit of $92,984.
  3. Maximum purchase price $371,936.
  4. No first-time buyer requirements. Buyers can own other real estate.
  5. Seller concessions are allowed.

This is an awesome way to become a homeowner, and the funds do not have to be paid back.

There are approximately 280 available homes for sale in Maricopa. The current price range starts at $144,000 and goes up to $480,000.

 

Pat Lairson, Realtor
The Maricopa Real Estate Company
520-280-5862
Patlairsonrealtor@gmail.com


This column appears in the July issue of InMaricopa.

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Pat Lairson

By Pat Lairson

There does not seem to be any slowdown in the Maricopa real estate market.

With school out, many families are now free to move in the upcoming summer months. Homes prepared to sell, meaning they are decluttered, clean, paint and landscaping in good condition and priced right, are moving very quickly.

If you are a seller, be prepared to see offers where the buyer asks you to pay some closing costs. It is common with the current lending grant program for buyers to also need some help with they’re closing costs. These offers usually are at or above list price, though.

Right now, the number of active listings and homes under contract is even-steven. We have about 280 homes available for sale and about 280 homes under contract, too. This should give you an idea of the pace we are in right now. Since January, 655 homes have closed in Maricopa.

If you have not driven around Maricopa’s various subdivisions in a while, you probably don’t realize how many empty lots are being completed. DR Horton is still building in Homestead in their gated community and in The Villages. They will begin in Glennwilde and Santa Rosa Springs soon. Fulton will be filling in the rest of the empty lots in Glennwilde this summer. LGI is now building in Rancho Mirage, and KB Home is still completing Desert Passage and parts of Homestead.

As you can see, there is a lot going on. If you are selling or buying in Maricopa, using an agent who lives and works in Maricopa is most important. Knowing the area and the market will help ensure an easier and more profitable transaction for you.

Pat Lairson
The Maricopa Real Estate Company
520-280-5862
PatLairsonRealtor@gmail.com


This column appears in the June issue of InMaricopa.

 

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Pat Lairson

By Pat Lairson

 What is happening with the real estate market in Arizona? Are we in a bubble? Will there be another crash? Is buying a home a good investment?

Ask 10 people these questions and you may very well get 10 different answers. The good news is you don’t need to guess or listen to rumors if you are trying to decide to buy or sell a home. There are enough statistical facts a Realtor can provide to you that will help you make an informed decision. Let’s look at some numbers for the Maricopa real estate market.

There are approximately 272 single family homes actively listed for sale on the MLS in Maricopa. The average list price of these homes is approximately $101.55 per square foot. The lowest-priced home is listed at $135,000 and is 1,191 square feet in size. The highest-priced home is listed at $439,900 and is 3,954 square feet. There are 283 homes currently under contract or in escrow waiting to close.

Since Jan. 1, approximately 461 homes sold in an HOA subdivision in Maricopa. We have about a 47-day supply of homes on the market. So what does this mean to the person that wants to sell their home? With a lower inventory and higher price per square foot, if you have been thinking about selling your home, now is a good time to do it.

For buyers, interest rates are still holding steady and depending on credit scores and other factors a buyer can still get an interest rate at or under 5 percent. If you are renting and your lease is ending in the next few months you really should look into buying.

The rental market in Maricopa is off the charts! There are only 27 homes available to rent, and most homes are getting multiple applications. Rental prices have increased dramatically, too, with the average rental price being about $1,200 per month.

There is still a down payment assistance program for Maricopa called Home Plus that can give you up to 5 percent of your purchase price with no payback clauses. If you own a home already and want to upsize or downsize you are in a win/win position.

Get the facts. Don’t let fear or rumors stop you from moving in the right direction for your future. If you want more detailed information about your specific situation, a Maricopa Realtor can provide that for you.

Pat Lairson
The Maricopa Real Estate Company
520-280-5862
Patlairsonrealtor@gmail.com

 

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Realtors (from left) Chad Chadderton, Pat Lairson and Dayv Morgan

Do you discuss the cost of utilities in Maricopa with your clients during the home-search process?

Chad Chadderton, Ahwatukee Realty
This is a major concern of both commercial and residential customers. I explain that our infrastructure was built to accommodate 100,000 people, which was [the] projection by this time. The downturn in the market slowed down our growth, and we are supporting and supplementing the utilities until such time as population catches up.

Pat Lairson, Maricopa Real Estate Company
I always go over the utility bills with potential buyers. If we can get a history of utility bills from the seller we do. If not, some utility companies will give out the lowest and highest bill from the previous year and this is helpful. I explain that we have a private water company and even if you don’t turn your water on your bill will average $100 a month. I also make sure they are aware of what their HOA assessment is per month and what that covers. This is very important information for a prospective buyer to know as it could affect their monthly mortgage affordability.

Dayv Morgan, HomeSmart Success
I don’t discuss it very much, other than saying that the average water/sewer bill is in the low $100s. I find that electric bills vary widely from house to house based on a) which company built the home, b) the size, maintenance and SEER rating of the AC unit, and c) the temperature that you set your thermostat. Google the rates for SRP and APS. In summer they are actually higher than the per kwh rate of ED3.


This article appears in the April issue of InMaricopa.

Fulton Homes has purchased parcels in Glennwilde. Photo by Raquel Hendrickson

After an eight-year hiatus, Fulton Homes is coming back to Maricopa.

Fulton plans to build 400 homes in the Glennwilde subdivision starting in 2017.

Dennis Webb, vice president of operations for the developer, said the new construction activity in the city and interest rates were important factors for the return.

“The pricing of homes has substantially improved,” he said.

Fulton Homes created Cobblestone Farms, where it constructed around 900 homes at the beginning of Maricopa’s establishment as a municipality. When the economy collapsed and the housing bubble burst, Fulton and most other developers left, at least temporarily.

Interest rates during the construction boom were around 7 percent. Now, that is around 4 percent and is expected to rise in 2017. Webb said that is a significant component.

He said the housing boom in Maricopa was an exciting time, and Fulton Homes was putting in many of the young city’s most expensive houses.

“We had a great product in Cobblestone,” Webb said. “I just drove through there again, and it still looks pretty good.”

Fulton Homes’ plans for Glennwilde are three products – small, medium and large.

Webb said the small home will be 35 feet wide with square footage between 1,500 and 2,300. In the medium range, the homes will be 1,700 to 3,400 square feet. The large homes will be 2,000 to 4,000 square feet.

Customer demands and tastes have changed in the past eight years, and Webb said the company is moving with the times.

“We listen to our customers and take into account what they want,” he said.

That means energy-efficient homes with lots of storage space, courtyards, large garages, great rooms and more bathrooms. Potential customers can visit the Fulton Homes Design Center in Tempe before they buy to examine what elements are most important to them.

Another important factor in Fulton Homes’ decision to take on parcels in Maricopa was the fact the lots were finished. Though the property had gone through a few owners in the past few years, the lots are shovel-ready.

Permits have not yet been pulled, but the company expects to start construction in the first quarter.

“We want to have the highest quality homes in Maricopa,” Webb said.

He said Fulton Homes had a good year in 2016 and expects 2017 to be even better.

“We think Maricopa we’ll be a good one for us,” he said.

Fulton joins Richmond American Homes in filling in the lots in Glennwilde.
Fulton joins Richmond American Homes in filling in the lots in Glennwilde.

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A Glennwilde home sold for $295,000 last month. Photo by R. Mason Callejas

From Aug. 15 to Sept. 15, two Maricopa homes sold for $295,000, which was the top price during that period. Both are two-story homes with swimming pools. The six-bedroom home on The Duke golf course was on the market more than three months and dropped its asking price by $4,999. That was an increase of 35 percent over its selling price five years ago. The other home is in Glennwilde and lasted just over a month on the market after lowering its price by $4,900. That was still 9.3 percent higher than its price in 2014.

41872 W. Monteverde Court

Sold: Sept. 9
Purchase price: $295,000
Square feet: 3,506
Price per square foot: $84.14
Days on market: 37
Builder: Unknown
Year built: 2007
Bedrooms: 4
Bathrooms: 2.5
Community: Glennwilde
Features: Spectacular swimming pool, wine refrigerator, loft, two stories, downstairs master suite
Seller’s agent: Jetaime Marie Green, Russ Lyon Sotheby’s International Realty
Buyer’s agent: Rick Metcalfe, Canam Realty Group

43453 W. Bunker Drive

A six-bedroom Rancho El Dorado Home also sold for $295,000. Photo by R. Mason Callejas
A six-bedroom Rancho El Dorado Home also sold for $295,000. Photo by R. Mason Callejas

Sold: Sept. 1
Purchase price: $295,000
Square feet: 3,200
Price per square foot: $92.19
Days on market: 108
Builder: Engle
Year built: 2002
Bedrooms: 6
Bathrooms: 3
Community: Rancho El Dorado
Features: Furnished, two-story home on the golf course with a swimming pool, RV gate, covered patio and fire pit
Seller’s agent: Ryan Murray, The Maricopa Real Estate Company
Buyer’s agent: Amy N. Nelson, Keller Williams Realty


This article appears in the October issue of InMaricopa.

Pat Lairson

By Pat Lairson

The first step for any home buyer is to know what lending programs are available and to work with a great lender. Your Realtor can help put you in touch with a lender.

I spoke with Lisa Shepard of Prime Lending to discuss some of the no-down programs available right now. These Arizona E-housing Programs are available to assist buyers in achieving their dream of homeownership.

Lisa explained that there are attractive down payment assistance grants that range from 2 to 10 percent given to the buyer, depending on the program. There are three programs available right now, but we will focus on two of the programs because one, Home in Five, is for Maricopa County only.

The two programs available for Pinal County and Maricopa specifically are called Home Plus and Pathway to Purchase. Here is some interesting information for both programs and updates about the programs. See if you might fit into one of these lending programs.

Home Plus

  • Buyer is gifted 4-5 percent of the loan amount on a conventional loan and 3 percent on an FHA loan that can go towards closing cost and down payment.
  • Upon closing, the gift funds never have to be repaid.
  • Maximum annual income limit is $92,984.
  • Maximum purchase amount is $371,936.
  • No first-time buyer requirements but buyer cannot own any other real estate at the time of closing.

Pathway to Purchase

  • Available only with conventional financing
  • Receive up to 10 percent of the loan amount for down payment and closing costs up to a maximum of $20,000
  • Buyer must own the home for a five-year period otherwise the monies will need to be paid back.
  • No first-time buyer requirements but buyer cannot own any other real estate at the time of closing.
  • Manufactured homes and new construction are not allowed.
  • Maximum income is $92,984.
  • Maximum loan amount is $371,936.

As of this writing Pathway to Purchase had $13.25 million left from the $28 million original grant amount. Home Plus has $220 million left. That sounds like a lot of money, but the monies do move fast. If you are renting and are interested in pursuing one of these programs, act now.

The lowest-priced rental in Maricopa is $945 a month and there are 37 rental homes available. There are 310 active single family dwelling subdivision homes for sale. The lowest priced home for sale is $124,900 and the highest priced home is $435,000. With the lower inventory right now, it is a great time to list your home.

Pat Lairson Realtor

Patlairsonrealtor@gmail.com

520-280-5862

The Maricopa Real Estate Company


This column appears in the October issue of InMaricopa.

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A five-bedroom home in Rancho El Dorado was the most expensive home sold in Maricopa from mid-July to mid-August.

The most expensive home sold in Maricopa between July 16 and Aug. 14 is a two-story house that went for $360,000, about $25,000 under its asking price. A lot of work went into a luxury backyard that includes a private swimming pool, swim-up bar, playground, sport court and a ramada with an outdoor kitchen.

43204 W. Oakland Court

Date sold: Aug. 3
Purchase price: $360,000
Square feet: 3,274
Price per square foot: $109.95
Days on market: 69
Builder: Engle
Year built: 2002
Bedrooms: 5
Bathrooms: 3
Community: Rancho El Dorado
Features: Swimming pool, playground, outdoor kitchen, lots of upgrades inside, front patio, spiral staircase.
Seller’s agent: Pam J. Rives, HomeSmart
Buyer’s agent: Timothy A. Moe, West USA Realty


This article appears in the September issue of InMaricopa.

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Pat Lairson

By Pat Lairson

The number of homes for sale dropped to 309 single-family dwellings in an HOA subdivision in August for Maricopa.

The average price-per-square-foot is $93.22 for homes currently listed. It is typical to enter into the fall season with a lower inventory as many people like to list their home in the fall and winter in Arizona. With this lower inventory, though, waiting to list could mean you are missing out on a sale now. The lowest-priced home for sale in a subdivision is listed at $89,900 and the highest listing is $435,000.

The market has not slowed this summer averaging about a 20-percent increase in sales over the same period last year. From July 1 to Aug. 8, 218 subdivision homes are under contract or have closed. The average closed sales price was $87.71 per square foot. There are several factors that could be contributing to this good, steady sales market.

Many people who could not buy because of short sales or foreclosures in the last three to five years now can. Also the loan program called Pathway to Purchase has assisted many buyers with their down payment and closing costs.

Pathway to Purchase will give a buyer 10 percent of their purchase price up to $20,000 toward their costs. Many people qualify with their guidelines, the main criterion for which is you have to own the home for five years. This is a grant program so when the funds are used, the program will go away. If you are thinking about buying, check into this program now!

New-home permits skyrocketed in 2016. Look at the number of permits issued since Jan. 1:

January       29
February    32
March         20
April-          33
May             57
June            85
July             40

Builders are buying vacant lots in subdivisions and filling in the gaps. Ask a local Realtor to take you to the new build sites. There are many details involved in buying a new home and having buyer representation really helps.

Maricopa still is one of the lowest-priced communities in the Greater Phoenix area. We still have quality, affordable housing. Our commercial development is increasing, too, with several projects breaking ground soon. You can follow all the commercial development coming to Maricopa on the city website.

We really are a city on the move. One of the best things we can do to ensure that Maricopa stays on the move is to shop local. That means buy your gas here and your food, go the movies here and use your local Maricopa Realtors to help you buy and sell your home.


Pat Lairson
520-280-5862
PatLairsonrealtor@gmail.com

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Rancho El Dorado sported the least expensive home sold in a month's time.

22016 N. Braden Road

The least expensive home sold in Maricopa between May 16 and June 15 was in one of the oldest neighborhoods in the Rancho El Dorado subdivision. On the market for a little over a month, the three-bedroom, two-bath home has the basics for a home built 14 years ago.

Date sold: June 10
Purchase price: $105,525
Square feet: 1,273
Price per square foot: $82.89
Days on market: 36
Builder: Continental Homes
Year built: 2002
Bedrooms: 3
Bathrooms: 2
Community: Rancho El Dorado
Features: Open floor plan, large backyard, covered patio, within walking distance of park
Seller’s agent: Marlene Cerreta, Cerreta Real Estate
Buyer’s agent:  (unavailable)


This item appeared in the July issue of InMaricopa.

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Enchantment Pass in Province boasted last month's most expensive home sale. Photo by Dick Barkley

20877 N. Enchantment Pass

This waterfront property in Province sold for exactly the same price as it garnered two years ago – $380,000 – down from the asking price of $399,900. Started as a model home in 2003, it has a private pool on a cul-de-sac lot and professionally-selected furnishings and artwork.

Date sold: April 15
Purchase price: $380,000
Square feet: 2,635
Price per square foot: $144.21
Days on market: 20
Builder: Engle
Built: 2003
Bedrooms: 2
Bathrooms: 2.5
Community: Province
Features: Heated pool, professionally decorated interior, patio, two-car garage, multiple ovens, two master baths, gas appliances
Seller’s agent: Steve Murray, The Maricopa Real Estate Company
Buyer’s agent: Kathryn Williams, United Brokers Group


This item appeared in the May issue of InMaricopa.

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Pat Lairson

By Pat Lairson

I received a great question from an InMaricopa reader. How do I choose a Realtor?

Here are some key points to consider when choosing a Realtor to buy or sell your home.

1. Knowledge: The first thing you need to look for is a Realtor who is knowledgeable in the market you are buying or selling in. Just because you have a friend of a friend who is a Realtor, and works in Scottsdale, does not mean they are the right person to sell or help you buy your Maricopa home.

2. Check them out: States will have boards that license and discipline real estate agents. Check with your state’s regulatory body to find if the person is licensed and if there have been any disciplinary actions or complaints. I also suggest using a Realtor who works full-time as a Realtor. Some Realtors work part-time, which means they have a day job and are not always available to get back to you quickly. Ask your Realtor about their work experience. How long have they been a Realtor? Why are they a Realtor? How many contracts did they close last year? Do they work with both buyers and sellers? Ask for previous client referrals and call them.

3. Pick a winner: How will they market your property? Talk about communication expectations. Discuss negotiation skills. Ask your potential Realtor why you should choose them to represent you? What makes them unique? Look at their current listings online and check for the quality of photos and the content of the listing. After interviewing your potential Realtor, trust your gut. Ultimately in any real estate transaction situations can come up. Your Realtor should be a good problem solver and know how to keep the transaction going. They should be someone you learn to trust quickly.

The Maricopa Market Update
There are 439 active listings for sale, 223 homes under contract waiting to close and 159 homes that closed from March 14 to April 14 at an average price of $89.50 per square foot. The rental market in Maricopa is at a serious shortage. Houses are getting multiple applications. As of this writing there were 25 homes available to rent and the lowest price home was listed at $995 per month. Leases are being renewed for an average of $50 to $100 over previous lease price.

With the various little to no money down loans that are available renters really need to look at buying or may be forced to move into other areas due to lack of homes available for rent.
If you have a Real Estate question please email me.


Pat Lairson is a Realtor with The Maricopa Real Estate Company.

PatLairsonRealtor@gmail.com
520-280-5862

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22105 N. Diamond Drive

The most expensive home sold in Maricopa from Feb. 16-March 15 was in The Lakes at Rancho El Dorado. The single-level home with four bedrooms and three bathrooms sold for $399,900. It has a self-cleaning swimming pool and fronts one of the lakes the subdivision is known for. Its closing price was 12.6 percent higher than when it last changed hands in December 2014.

Date closed: Feb. 19
Purchase Price: $399,900
Square feet: 2,849
Price per s.f.: $140.36
Days on market: 46
Builder: Meritage
Built: 2008
Bedrooms: 4
Bathrooms: 3
Community: The Lakes at Rancho El Dorado
Features: 15,682-square-foot lot, private pool, lakefront, upgraded floors and cabinets, custom entertainment center, reverse osmosis
Seller’s agent: Merrill A. Jencks, West USA Realty Revelation
Buyer’s agent: Ryan Atwood, ProManage Realty, LLC


This item ran in the April issue of InMaricopa.

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Now is the time of year for home-sellers to clean up their house and yard to attract buyers.

Spring is nearly here, and with it comes families looking for a new home.

Typically, this time of year is the start of a busy season for local real estate agents. With the housing market flooded with listings in January and February, this year’s spring is shaping up to follow suit.

To gain more insight, we asked a few local Realtors what we should expect to see in 2016.

How does the real estate market in Maricopa change in spring compared to winter months?

“The market in spring really starts to pick up. In January the market in Maricopa was flooded with 263 new listings, which is higher than any other month in the last year.  However, demand starts to increase in spring and many families start to write offers on homes now so that they can close and move over the summer. Generally this is one of the best times to list your home.” – Dayv Morgan, HomeSmart Success

“Over the last two years in Maricopa, there were more homes sold … April through June period than there was in (January through March), and I expect that trend to continue this year. People also anticipate the end of the school year as we approach the spring and that also translates into listings and sales, as well as rental closings.” – Jay Shaver, Maricopa Real Estate Company

“Springtime is a super time to buy or sell, and a time many people are thinking of making an address change. Mother Nature really puts on a show in Arizona in the springtime. So many people are out enjoying our beautiful days, they might just see your for-sale sign and decide to take a look.” – Terry Sperry, Coldwell Banker

What landscaping tips do you give sellers to help springtime curb appeal?

“Do some spring cleaning. Pack up what is not being used, wash your windows, clean your carpets, clean whatever needs to be cleaned and that goes for outside as well as inside. Cut off all dead branches and clean up leaves and weeds. Plant some fresh flowers even just in pots around your entrance and backyard.” – Pat Lairson, Maricopa Real Estate Company

“Keep your yard weed-free. An exterior that is not maintained not only has bad curb appeal, but also implies that the interior is not maintained. Weeds really start to pop up fast this time of year. I would spray the entire yard with a pre-emergent now, and it will last for several months and keep the yard looking good.” – Morgan

“Take this time to clean up your front and back yards to give your home that fresh, well-cared-for appearance when they first walk up to the front door. You have many colorful, flowery options for accent plants or pots to make your home pop. Not only will you attract more buyers, you are apt to get a higher price for your home.” – Sperry

This story appeared in the March issue of InMaricopa News.

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Pat Lairson

By Pat Lairson

The Maricopa real estate market is jumping, with new listings coming on the market daily and houses going under contract, too.

There are currently 458 single-family dwellings listed for sale on the MLS in Maricopa. There are 258 homes under contract since Jan. 1 that are either pending or closed. The rental market is hot, too, with only 17 single-family dwellings available that are not vacation rentals.

You read that right.

If you are a renter you may have felt the heat from the lack of homes available and multiple applicants to contend with. You might want to look into buying now, even if your FICO score isn’t ready yet. Talking to a lender can get you on the right track.

Here is a question from a reader that I think is appropriate for people who want to sell or buy right now.

What costs are involved and who pays for what? What are the “hidden” costs? – Toni Marie McDonald

In buying or selling a home, there are certain costs for a seller and certain costs for a buyer, and then some of those costs can be negotiated.

A seller pays Realtors’ commissions, title insurance policy for the buyer in order to ensure a clean title, sellers’ escrow costs and the HOA disclosure fee. This usually totals about 8 percent of the sales price of the home.

Buyers pay for their own home inspection (approximately $350) and their appraisal ($450). Buyers pay for their own loan down payment, which can be between 0 and 20 percent. A buyer’s closing cost is about 3 percent of the purchase price of the home if they are getting a loan. Some costs can be negotiated back to either the buyer or the seller.

HOA fees vary per subdivision and although the seller pays the HOA disclosure fee, there could be other HOA fees that are negotiable for either the buyer or seller to pay.

If a buyer is trying to pay as little out of pocket as possible to get into a home, the buyer can ask the seller to pay they’re closing costs. If this is requested then usually the buyer writes close to a full price offer or more and the seller still gets the net they need.

A home warranty policy is another negotiable item and can be paid by either party. Every contract is different. There are no hidden costs in a real estate transaction. All costs are documented in the purchase contract paperwork and the title company, who acts as a neutral third party, will give the seller and buyer a written financial disclosure with all costs to review before closing.

If you have a real estate question, please email it in to me.

Pat Lairson is a Realtor with The Maricopa Real Estate Company.
PatLairsonRealtor@gmail.com
520-280-5862

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Pat Lairson

By Pat Lairson

Every article I write is written with the intent of writing about something that may interest you, the reader. In January, I did a Facebook poll to find out what some of you are interested in reading about in this article. Here are a few questions that were posted from readers.

1. What specific red flags should you look for on an inspection report? – Yvette Lincoln

The first thing to know is that inspectors are hired to find things wrong with the home or any safety concerns in the home. Sometimes their reports can look like there are a lot of things wrong with the home, when in fact they are minor fixes. It is important to determine what is minor and what is a “red flag” in the way of a costly repair or something that would make you not want to proceed with the sale.

Termites, active leaks and safety issues like a non-working HVAC system in the summer would prevent a loan from being approved until repaired. Some “red flags” on a report the buyer should be concerned about are cut trusses in the attic, foundation issues, electrical problems and water damage.

Based on these issues coming up on a general inspection report, a further inspection may be needed by a structural engineer, electrician or mold inspector. A buyer has 10 days to get a home inspected and negotiate the repairs or they may lose their earnest money. Most foreclosures or HUD homes that are bank-owned are sold “as is.” This means you can get the inspection but most likely no repairs will be made. An inspection is always recommended.

2. If you have limited funds to make any updates on your house before selling, what areas should you focus on to get you the most bang for your buck? – Janice Stead McCracken

In preparing to sell your home with limited funds, the most important thing you can do is to make sure it is de-cluttered and clean. If you have to rent a storage space to move some of your “things” out do it. It is OK to have boxes in the garage, but a cluttered room will cause a buyer to turn around and walk out. If your home needs a deep cleaning, pay to have one done. If you smoke or have animals, do what you can to eliminate the smell. Paint is probably the next single thing you can do to improve the look of your home. If your home needs paint or you have walls that are not considered neutral, adding some fresh paint can really make your home pop. A clean, uncluttered, neutral home will sell the fastest for the best price.

Pat Lairson is a Realtor with The Maricopa Real Estate Company.
PatLairsonRealtor@gmail.com
520-280-5862

Pat Lairson

By Pat Lairson

It is an exciting time in real estate for the city of Maricopa. Overall the market is moving and profitable for most people who want to sell and also a good investment for those who want to buy. Let me give you an overall market view and then talk to you about some homework you should do if you are thinking about listing your home for sale.

There are only 40 active listings for rent. This is an all-time low for rentals available in Maricopa, which has caused an increase in monthly rental prices along with fewer homes to choose from to rent.

There are approximately 325 active single-family homes for sale in homeowners association subdivisions in Maricopa. The lowest-priced home is listed for $99,500 and the highest priced at $459,000. From June 1 to current, there are approximately 264 homes under contract either pending, closed or about to close. The average time a home is on the market has gone down to about 82 days in Maricopa.

So you can see the market is moving.

If you are thinking of selling your home this is a great time to do so. Do some homework first, though, before you sign a contract.

1. Get a market analysis done on your home. Realtors will do this for free and send you a comparative analysis on like homes in your subdivision so you can see the range of what your model will sell for. Your home can’t be priced accurately though until a Realtor actually visits your home.

2. Once you go over the analysis and if you want to list your home, go look at a couple of homes in the price range you think your home is valued at. This will give you some ideas on how to present your home and even price it accurately. Homes painted in neutral colors, de-cluttered and smoke- and pet-smell-free sell much faster.

3. There are costs involved in selling your home. Your Realtor can provide you with a cost sheet so you know exactly what you will net.

4. Make any repairs to your home before you list your home. Most buyers will hire an inspector. A report that comes back with a long list of repairs can scare a buyer off. As a seller, often you know of some items that need to be fixed in your home. Fix these items before you list. You can also get a free termite inspection before you list. Also get an HVAC tune-up and keep the receipt to give to your buyer, patch any outdoor drywall cracks and touch up paint if needed.

5. Find out how your home will be marketed. The Realtor you choose will tell you what they plan to do to sell your home and how they will follow up with potential buyers. They will also advise you on how to prepare your home the best way possible to sell it quickly.

Pat Lairson is a Realtor with Coldwell Banker Residential Brokerage.