Andrew Robb | Andrew Robb RE/MAX Fine Properties - Part 7 Andrew Robb | Andrew Robb RE/MAX Fine Properties - Part 7
You are here: Home / Archives for Andrew Robb

Calculating Phoenix Home Value

March 28, 2019 By

Calculate Phoenix Home ValueEstimating the value of a Phoenix home is a science more than it is an art. Factors like average days on market, availability of other competing homes for sale and seasonal demand fluctuations should all be taken into consideration – but more so when determining the pricing strategy for your home, not calculating its market value.

Phoenix home value is calculated using a fairly strict set of criteria, including using:
– similar size homes (generally not more than +/- 15% in square footage difference)
– similar age homes (generally not more than +/- 10 years difference)
– similar neighborhoods or subdivisions (appraisers typically will not cross a major road or highway to find comps)

Phoenix home value is impacted by differences in:
– quality of home construction
– quality of improvements made
– size of lot
– lot views and/or privacy
– number of garage parking spaces
– number of bathrooms
– having a pool and/or spa
– having a fireplace

Once an opinion of fair value has been reached, how do you determine pricing strategy?

Within each neighborhood there are typically 3 price ranges:
– high (homes that bring the most $/sqft)
– low (homes that bring the least $/sqft)
– mid (homes that fall between high and low)

Most value ranges vary by more than $10/sqft so it is important to select the appropriate price range for the home and then to correctly position the home within the appropriate range. Having your home well positioned within the correct range doubles your chances of getting the home sold. Keep in mind that selling a home is both a price war and a beauty contest.

As you have probably realized by now, figuring out a home’s realistic market value and proper pricing strategy goes way beyond finding out what a neighbor sold their house for and multiplying that $/SQFT ratio by the total SQFT of living space in your house. Submit your property details if you would like me to provide you with a no cost, no obligation, value estimate for your Phoenix home.

Filed Under: Real Estate Tips Tagged With: ,

6752 W LUCIA DR, Peoria

February 21, 2019 By

* SOLD FOR 98% OF ASKING PRICE * Original owner home has been incredibly cared for in every respect! Flawless condition Camelot home on large premium lot with mountain views inside gated community. Private courtyard with custom iron door leads into round foyer with soaring ceiling. Upgrades are found at every turn: travertine floor, plantation shutters, gigantic granite kitchen with hand-rubbed cabinets & pull-out drawers, farm sink, sub-zero fridge, gas cooktop, double ovens & warming drawer, custom fireplace & built-ins at family room, alarm system, expanded covered patio, 3-car garage with epoxy flooring, lots of storage cabinets plus separate 4th car garage. Oversized RV gate & paver stone driveway offers plenty of parking. Secluded north Peoria community of Sonoran Mountain Ranch.

North Peoria home for sale in Sonoran Mountain Ranch, marketed by Peoria AZ Realtor Andrew Robb.

Listing Price: $649,000
MLS #: 5886369
Address: 6752 W LUCIA DR
City: Peoria
State: AZ
ZIP: 85383
Home Size: 3,889
Lot Size: 16,272
Bedrooms: 4
Bathrooms: 2.5
Garages: 4
Pool: N
Filed Under: $500,000-$750,000, 3500 sq ft - 4000 sq ft, Peoria, Property Location, Property Price, Property Size Tagged With: , , , , , ,

Opendoor Reviews Offerpad Reviews

February 14, 2019 By

Opendoor reviews Offerpad reviewsLooking for Opendoor reviews or Offerpad reviews on Yelp? Good luck.

On February 11, 2019 Inman News reported that Yelp made finding these reviews almost impossible, by removing them from Yelp’s online search tool and from Google search results. The review pages are still accessible with direct links so consumers can still read old reviews and post new reviews – you just can’t search for the review pages any more since Yelp has stopped them from turning up in searches. When the review pages became unsearchable, Opendoor had a 3.0 star rating from over 180 reviews, while Offerpad had a 1.0 star rating from only 1 review. Interestingly, Opendoor has received financial backing from Yelp’s CEO as well as two former Yelp board members though they state the Yelp policy change has nothing to do with this relationship.

Why are reviews so important to a business? Consider when you make a small purchase decision, such as buying a new toaster or going out to eat. How often do you read reviews before making your choice? Let’s be honest, most of us hardly doing anything today with a little research first, which includes reading customer reviews and looking up star ratings. Would you buy a toaster with a rating of 3.0 stars in their reviews? Would you eat at a restaurant that only gets 3.0 stars from hundreds of patrons? And we’re talking about spending less than $100 in each of these situations. Consider then that selling a home is one of the biggest and most important financial transactions of many people’s lives. So if you won’t eat at a Chinese buffet with a questionable 3-star rating, would you sell your home with a company that gets the same rating?

Here is a link, which is also fully searchable on Google, to my rating and reviews from Zillow: Andrew Robb reviews.

Filed Under: Real Estate Tips Tagged With: ,

13140 W BAKER DR, Peoria

February 10, 2019 By

Incredible opportunity to be the envy of everyone with this prime location in guard gated community and perfect outdoor entertaining oasis. Plenty of privacy thanks to lush mature landscaping and delightful front courtyard. Gigantic laundry room has abundance of cabinets and very comfortable workspace. Plenty more storage is found in 3.5 car garage with built-in cabinets and epoxy floor coating. Highly upgraded exterior living with travertine flooring at front & back, built-in gas BBQ and expanded covered patio. Thoughtful interior touches include central vacuum, water softener, water filtration system and upgraded window treatments with honeycomb shades, large walk-in master closet with custom cabinets and guest bedroom with full en-suite bathroom.

Peoria AZ home for sale marketed by Peoria AZ Realtor Andrew Robb.

Listing Price: $519,000
MLS #: 5881450
Address: 13140 W BAKER DR
City: Peoria
State: AZ
ZIP: 85383
Home Size: 2,305
Lot Size: 7,850
Bedrooms: 2
Bathrooms: 2.5
Garages: 3
Pool: N
Filed Under: $500,000-$750,000, 2000 sq ft - 2500 sq ft, Peoria, Property Location, Property Price, Property Size Tagged With: , , , , , ,

First Time Home Buyer

January 31, 2019 By

Phoenix First Time Home BuyerLooking to buy your first home in Phoenix? There are three loan types and one down payment assistance program that may be ideal for you, depending on your situation:

1. Conventional loan is a mortgage available to buyers with as little as 3% (of property sales price) down payment. This will require mortgage insurance (in the form of a monthly premium built-in to the mortgage payment) unless the down payment is 20% or more of the sales price. Generally, mortgage insurance can later be removed by the lender once the equity in the home exceeds 22%. Borrowers will need to have a FICO credit score of at least 640 and typically the higher the credit score, the lower the insurance premium will be.

2. FHA loan is a mortgage available to buyers with as little as 3.5% (of property sales price) down payment. Mortgage insurance will also be required (in the form of a monthly premium built-in to the mortgage payment) but allows for borrowers to have a FICO as low as 580. For borrowers with a 500-579 FICO credit score, they must put down 10% of the sales price. Mortgage insurance remains for the life of the loan, so the only way to avoid paying it is to refinance out of an FHA loan into a conventional loan when possible for the borrower.

3. VA loan is a mortgage available to military (active or retired) buyers with as little as 0% (of property sales price) down payment. There is no mortgage insurance required however there is a VA funding fee of about 2.5% that is added to the loan balance at time of origination. Typically a borrower will need a FICO credit score of at least 640 to qualify, along with their military certificate of eligibility from the VA.

Arizona also offers a down payment assistance program to help first time home buyers in Phoenix. The main benefits of the Home Plus loan program are down payment assistance, closing cost assistance and reduced mortgage insurance premiums. To be eligible, buyer must occupy home as their primary residence, the home price cannot exceed the program limit, buyer must meet income and credit score requirements, and finally the buyer must also complete an educational course about borrowing and home ownership. Borrowers who qualify for Home Plus can get up to 5% of the purchase price in the form of down payment assistance. This gift is by way of a no-interest (silent) second mortgage that is 100% forgiven as long you do not sell or refinance your home for 3 years.

Questions about these loan types or down payment assistance program? I can put you in touch with a variety of reputable local Phoenix lenders to handle all your inquiries.

Filed Under: Real Estate Tips Tagged With: ,
« Previous Page
Next Page »
Andrew Robb - RE/MAX Fine Properties, 21020 N Pima Rd, Scottsdale AZ 85255