TerravitaRealEstate.com News You Can Use
Last month was the 31st anniversary of when I started in real estate here in the Valley, and I still can’t give you a good explanation of the way real estate taxes are computed.
This article explains a bit about the process and describes an important change that effects how much you will pay: The Arizona lag on property tax rates could end by 2018
One of you forwarded me this interesting article from KTAR News yesterday and suggested that the rest of you might find it interesting too.
There are over 30,000 real estate agents in the Valley, which is 20,000 too many
The author’s point is that it is too easy to obtain a real estate license in Arizona. While I am not sure I completely agree with all the commentary, I can tell you some absolute horror stories about mistakes made by “part time” or retired agents who look to supplement their income with 4 or 5 transactions a year. On this topic I would like to share two points:
By the way, Steve is holding an open house today from 1-3 pm at 32676 N. 68th Place. Stop by and say hi!
Open House Today
When: Today, Friday February 20th from 1 – 3pm
Where: 32676 N. 68th Place
What: 2,556 Sq Ft, 3 Bed, 2.5 Bath, Den, Flex – Modified Stella
How Much: $510,000
Click Here to See a Photo Tour of Home: Photos
Click Here to See the Floor Plan: Floor Plan
Click Here to See the Complete MLS Listing: MLS or MLS
Terravita Air Conditioner Replacement FYI
Those of you who have not replaced your heating and air conditioning systems, should read the article below. Due to new government energy efficiency requirements, this task became more expensive on January 1st of this year, but it will be even more expensive soon.
The article explains how minimum Seasonal Energy Efficiency Ratings or “SEER” ratings for new units in our area have increased from 13 to 14. Since the vast majority of Terravita’s homes were originally 11 SEER and small minority upgraded to 12, this could be an important issue you might want to address sooner rather than later.
Over the last six months or so I have discussed a consulting project I was working on with a new “Terravita Copy” community that will be opening in the valley in 2015. I have not mentioned the name, or location because the builder was/is early in the process and has not been ready to discuss it yet. I guess now they are . . .
Shea Homes Active Lifestyle Communities is the builder and this Thursday they are having an event for interested buyers who want to help shape the community. They have asked me to extend that invitation to you. If any of you, or folks you know, are interested in the community they would like to hear from you and get your input and feedback about your preferences in home design and architecture.
The community is called Tegavah (That is the name at this point anyway, and it is pronounced te • gä • vah) and it will be located on what was formerly known as the Vista Verde Golf Club. The property is located 10 miles east of the intersection of Pima and Dynamite. If you have never been out there you will be stunned by the beauty of the mountain views and lush Sonoran Desert. It reminds me very much of Terravita in the early days before everything built up around it!
The team at Shea Homes is considering many options for making Tegavah the best new golf resort community in Arizona. (Terravita is the best resort community, but this could be the best new one!) So if you’re interested in learning more and helping shape the future of Tegavah, be sure to sign up for this exclusive, free opportunity. Space is limited.
On Thursday, February 12th, Shea is hosting a guided tour of their two newest golf resort communities, Trilogy at Vistancia in Peoria and Trilogy at Wickenburg Ranch in Wickenburg. You’ll get to tour Shea’s newest home designs as you think about – and provide feedback on – how the homes at Tegavah should be designed, all while enjoying a fun day.
Here’s the itinerary for the day:
Trilogy at Wickenburg Ranch
As an additional “thank you” gift for participating, you will receive your choice* of a complimentary twosome at Tegavah, or a Golf & Spa Day for two at Trilogy at Vistancia. These gifts may be used any time in 2015 with a 3 day advanced booking window, based on availability.
Although my team and I will be representing buyers interested in purchasing in the community, I am not a part of Tegavah or Shea Homes. Shea just asked for my help in the early phases of this project. My contributions were mainly market knowledge, access to inventory, and the perspective of already having participated in creating a world class community in what people perceived to be a desolate area. I hope our value to you is all of those same contributions, as well as keeping you at the forefront of what is happening in your market place here in the valley.
How Accurate are Zestimates on Zillow?
Do you use Zillow to check out the value of homes? A lot of people do. Zillow’s “Zestimates” frequently come up in conversations that I have with buyers and sellers. I’ve always said that Zestimates are a great starting point when determining a home’s value, but it is very important to have a Realtor prepare a Comparable Market Analysis (CMA) to better determine the market value of a home.
Here’s a great article about Zillow and how Zestimates can be way off when determining the market value of a house:
Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices
There are two important things to remember when determining the value of a home. First, a home is only worth what someone will pay for it. Second, unless the buyer is paying cash, a buyer’s lender will only lend based on an appraisers market value. Appraisers do not look at Zestimates, they look at the data provided by the MLS and tax records. They make adjustments for various items compared to comparable sold properties and properties currently on the market. And so do Realtors. A Realtor looks at the same items an appraiser does to help determine market value, however, Zestimates do not take into account most things an appraiser looks at.
If you would like a free CMA of a property don’t hesitate to contact me at 480-634-5000.
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