Realtors, an Educated Crowd?
June 24th, 2009
Categories:Off Topic
Is the real estate industry filled with professional, educated and experienced Realtors? Or are they just a bunch of high school dropouts?
Arizona is home to over 63,000 Realtors. Ready for another surprising statistic? According to ARMLS, just over 9,000 homes were sold in Arizona last month… which means there are 7 Realtors for every home that sold last month. Which clearly points out there are far too many Realtors in this industry and not enough of them are serious about their career Read the rest of this entry »
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Market Value vs Market Price
June 23rd, 2009
Categories:Home Buyer Education
Appraising a home is a very detailed and methodical way to reach an opinion of value. While an appraiser is skilled at acquiring the most relevant amount of information possible and using that information to determine the value of a home, there is always a human factor involved with the market price.
To put it simply, a home may be valued at a certain, number but it will always be the home buyer that determines the price it will sell for.
Market Value
The goal of an appraiser is to estimate the most probable price a home will sell for in the current market, this is referred to as the market value. The market value has three assumptions about the transaction.
- The sale occurs in an open and competitive market
- The buyer and seller both act prudently and with knowledge
- The market value depends on the price not being affect by unusual circumstances
These additional factors are essential to determining Read the rest of this entry »
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Appraisal Resources
June 23rd, 2009
Categories:Home Buyer Education
Here are a list of website with information regarding the appraisal industry.
Websites
- American Society of Appraisers
- American Society of Farm Managers and Rural Appraisers
- Appraisal Foundation
- Appraisal Institute
- International Right of Way Association
- National Association of Independent Fee Appraisers
- National Association of Master Appraisers
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Three Approaches to Real Estate Value
June 23rd, 2009
Categories:Home Buyer Education
Appraisers use three methods to determine the value of a property. Depending on the property, each approach will be more relevant or less relevant to the value of the property. Appraisers will often use a process called Reconciliation which takes into consideration how well each approach applies to the property being appraised.
Here are the three approaches to value:
- Sales Comparison Approach
- Cost Approach
- Income Approach
Method 1: Sales Comparison Approach
This is also known as the market data approach and is Read the rest of this entry »
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The 9 Principals of Value
June 23rd, 2009
Categories:Home Buyer Education
Numerous economic principles can affect the value of real estate. These are great principles to keep in mind when purchasing and remodeling a home. Where you invest your money can have a large impact on the amount it increases the value of your home. The most important principles are listed below.
9 Principals of Value
- Anticipation
- Change
- Competition
- Conformity
- Contribution
- Increasing and Diminishing Returns
- Regression and Progression
- Substitution
- Supply and Demand
Anticipation
According to the principle of anticipation Read the rest of this entry »
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5 Creative Places to Watch Fireworks and Avoid Crowds
June 23rd, 2009
Categories:East Valley News
Here are 5 creative, different and possibly risky places to watch fireworks and avoid the crowd.
Just a quick disclaimer: If anyone gets arrested trying these ideas out send us an email with your story, but don’t tell the cops we gave you the idea. OK?!
- Safe: Top of parking lots (great idea in Tempe)
- Safe: Rent a high rise condo for the night
- Borderline Risky: Empty builder lots
- Risky: Elevation Chandler building
- Risky: Vacant commercial building rooftops
Idea 1: Top of Parking Lots
- With the fireworks being held at Tempe Town Lake, why not find a parking tower, pull out a lawn chair and enjoy the show. Sure you’ll miss out on the party, but you can bring your own beverages and food.
Idea 2: Rent a High Rise Condo
- its not easy finding tenants these days, there is a good chance you could convince the condo towers to rent out a room for the night. Keeping in mind they aren’t hotels, but they might make an exception for the right price.
Idea 3: Empty Builder Lots
- You might have to do some driving around for this idea, but why not toss some lawn chairs on an empty lot and have some friends join you. The view will be fairly clear since there aren’t any homes nearby (assuming the community is less than 50% built out). I can’t imagine you would get into too much trouble with this idea, but you just never know who might have a problem with a few lawn chairs sitting on a dirt lot. Do keep in mind, builders have to keep the dust down in their communities, so try to keep the trucks off the dirt.
Idea 4: Elevation Chandler building
- For those of you not up for a little risk taking this might not be your cup of tea. Remember the half built building that has been sitting just south of Chandler Fashion Mall, incomplete for years? The building is one of the tallest buildings around and would be a great place to view the fireworks celebrations. Clearly taggers aren’t having any troubles getting to the top of the building.
Idea 5: Vacant Commercial Building Rooftops
- This ties into the elevation chandler building idea. Perhaps there are some other (less risky) buildings you could find access to the roof of and watch the fireworks?
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ACRE Designation
June 22nd, 2009
Categories:Off Topic
Real-estate Con-sult-ant: [rē′ əl, e stā′t, kən sult′nt] – pronoun
1. Consults with you, rather than selling to you; 2. Believes Real Estate isn’t one size fits all; 3. Offers a menu of choices; 4. Customizes a plan based on your needs, goals and budget; 5. Provides complete transparency of all fees; 6. Has extensive Real Estate and Business background;
The Accredited Consultant in Real Estate (ACRE) is a designation held by the few Realtors who understand the value of their services and want to provide their customers with more options than the standard flat rate commission structure.
While other real estate agents may refer to themselves as consultants, an agent with the ACRE designation will have a firm understanding of the meaning “Consultant”. They will have a menu of services and they will offer their customer the flexibility to choose the services that fit their needs.
Contact Flinsk Real Estate for additional information regarding the consulting services offered and how you can benefit by working with a ACRE designated Realtor.
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