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For Sale, SOLD

Why Homes Sell.

February 02, 2018 by Kyle Clayton in housing market, real estate, entrepreneur

Did you know that homes sell for 3 reasons? 

Price: Pricing your home is important, too high and you lose the enthusiasm of buyers when you put it on the market. Buyers are educated in today's market and with home value estimators, they know what a home is worth, and they expect it to be priced right. Also, with low inventory of homes for sale, buyers will be flocking to new homes, but if you over price your home, they won't even waste time viewing it. 

Condition: Once a buyer decides to see your home, it's all about condition! They're walking around your home not only to look at the layout but also to inspect the condition. They're looking for signs of deferred maintenance and other potential problems, that would cost them more money in the future. So if you're home is in good condition, keep it that way! If not, you may be able to do some cheap things to fix it up, in order to prevent those types of problems. When your property is in good condition, it reduces the friction of getting buyers to make an offer!

Exposure: When you list your home for sale, it's published on the Multiple Listing System (MLS), where all the real estate agents in your area can see the property and it's information. Zillow pulls their data from the MLS, along with tens of thousands of other sites, put your best food forward with amazing images. So having good photos and good data, is key to good exposure. However, that's not enough! A good REALTOR® is going to have a marketing plan and things they do to further market your home to find buyers. Good marketing exposure is key to getting people to see your home and hopefully to want a tour. 

When you price your home correctly, it's in good condition, and has the exposure of the MLS and my Team's marketing, it will sell fast and for what it's actually worth!

Have any questions? Email me at Kyle@TeamClayton.com!

February 02, 2018 /Kyle Clayton
remax, realtor, real estate, remax professionals, RE/MAX Professionals, real estate market, real estate investment, selling, selling a home, selling your home, tips for first time home sellers, first time home seller, paradise valley, top reasons to sell, for sale, for sale by owner, arizona, moon valley, moon valley phoenix, moon valley country club, lookout mountain elementary, mountain sky jr high, Phoenix, real estate agent, reasons homes sell, why do homes sell
housing market, real estate, entrepreneur
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homebuyer.jpg

House Hunting In A Seller's Market

January 17, 2018 by Kyle Clayton in real estate

The real estate market today, has become a Seller's Market. That means there's not enough homes for sale, to keep up with the demand of home buyers. Finding the home you love, may be a challenge. 

When a new house comes on the market, there's going to be a lot of eyes on the property and if it meets a seller's needs, people will jump on putting their offers in. Buyers are having wait longer to find homes they like, so when a desirable home is on the market, they're ready to pounce on it! The house you saw today, may be the house someone else loved yesterday. So how are you going to navigate the market?

Here's some tips on finding a home in a Seller's Market:

  1. Be patient but vigilant. You're going to have to exercise your patience, especially if you have a certain area or budget. You may have to wait for new homes to come on the market. When you see a home you like, it's time to be vigilant and tour it as soon as possible. 
  2. Be ready to make an offer. Your competition for a home is ready to offer too, so be on the ball and get your offer out as soon as you can. In this market, it's important to submit offers that makes it easy for the Seller to say yes!
  3. Expand your possibilities. You may have to think about expanding your search area or what you will accept. Smaller house? Fixer-upper? Maybe your not getting the house you thought you would but you can turn it into your dream home.
  4. Negotiate. If you're asking for closing cost, could you come up in price? If you have a big down payment, is your REALTOR® making that clear to the Seller. Crafting a good deal for the Buyer that appeals the the Seller is an art. An experienced real estate agent won't have a problem explaining their method of negotiation. 

Don't worry, you'll find something, the journey may just be a little longer. 

As your REALTOR®, I will make sure you get the home you want but more importantly, want the home you get. So let's get together and talk about how we can work together to accomplish your real estate goals!

January 17, 2018 /Kyle Clayton
benefits of homeownership, closing costs, down payment, down payment assistance, for sale, first time homebuyer, real estate, real estate investment, realtor, buying a home, how to buy a home, home in five, homeowner, buying a new home, reasons to buy a home, tips for first time home buyers, arizona, arizona wine country, phoenix, RE/MAX, RE/MAX Professionals
real estate
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modern home

The Benefits of Owning a Home.

January 10, 2018 by Kyle Clayton in real estate, personal growth, housing market

We all need a place to call home and feel comfortable. It may be a house, apartment, condo, or townhouse. We all know that finding a place to call home can be a complicated and even become an emotional decision. Especially after the downturn, young people  may be hesitant to buy a home. The good news is homeownership is still beneficial in many ways. 

Health Benefits: Homeowners and their families are generally more engaged in the community surrounding their home. That makes for healthier individuals, mentally and physically, according to Mark Lindblad, research director at the University of North Carolina’s Center for Community Capital. Children who's parents own a home also do better academically. Having a consistent home and a consistent school, helps kids thrive.

Tax Benefits: If you're single or married, without any children, you probably don't have many tax deductions to help lower your overall tax burden. Owning a home automatically allows you to deduct taxes and interest paid that year, up to 10,000 dollars. Make sure you speak with an Accountant to make sure your deductions are correct. 

Stable Costs: Rents are rising in today's market and owning a home, with a fixed rate loan, makes your housing costs predictable. As you pay down the loan amount, your mortgage will cost you even less. Rent is always cheaper in the short term, but owning a home stabilizes that cost and lowers it in the long term. A rental will never do that. 

Build Wealth: Homes typically go up in value. Although that can fluctuate in the short term, home values in the long term are stable. Real Estate is a long term investment so be patient. Even better, there are monthly gains in equity as you continue to pay your mortgage down. The bottom line is that real estate is still a great way to build wealth for you and your family. 

Capital Gains Exclusion: When you sell your primary residence for a profit, you get to keep $250,000 if your single and $500,000 if you're married. You'll pay $0.00 in capital gains taxes. ZERO! You just have to live in the home for five of the last 8 years.

The financial benefits are clear but the social benefits are based on stability. So when thinking of buying a home, make sure you're going to stay there for the long term. Then get a fixed rate mortgage and look for down payment assistance, if needed. That, along with a stable job, will ensure that you reap the financial and social benefits of owning a home.

Need help making those housing decisions? Know someone buying or selling? Please contact me, I'd love to help! Visit: www.teamclayton.com or email kyle@teamclayton.com

January 10, 2018 /Kyle Clayton
buying a home, home loan, home plus program, home value, home valuation, homeownership, homeowner, home equity, benefits of homeownership, health, school, kids, children, social benefits, financial benefits, capital gains, selling a home, first time homebuyer, reasons to buy a home, buying a new home, arizona, phoenix, glendale, moon valley, moon valley phoenix, scottsdale, paradise valley, cen pho, cenpho, dtphx, downtown phoenix, arrowhead lakes, peoria, rovey farms
real estate, personal growth, housing market
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downpayment

Down Payment Assistance in Arizona

January 02, 2018 by Kyle Clayton in real estate, entrepreneur

Down payment assistance programs are talked about a lot but some how they're still confusing! So here is some of the information about down payment assistance programs in Arizona. You DO NOT have to be a first-time home buyer to qualify for some of these programs. 

Home In 5 Program: This is the most popular down payment assistance program. 

  • 640 minimum credit score. Higher credit equals more assistance. 
  • Debt to Income ratio needs to be no higher than 45%
  • Online homebuyers course is required.
  • You can only buy a primary residence for under $370,000
  • No repayment is required after 3 years of living in home as primary residence.

What do you get? Up to 4.5% cash to help you with a downpayment. Now, that is the maximum amount of assistance, keep that in mind.

  • Teachers, Veterans, Law Enforcement, First Responders get an additional 1% in downpayment assistance!
  • 30 year Fixed Rate Loan.
  • Your APR depends on the loan type and financial data. It will be higher than market rate.

This is the most popular program in Maricopa County. I have seen buyers get almost $10,000 dollars towards the purchase of their home. That is a huge help and depending on your Realtor's® negotiating skills, you may be able to buy a home with little money out-of-pocket. 

See also: Home Plus Program or watch this video!

So if one of your dreams is homeownership, this can take you one step closer! Talk to a mortgage broker and see where your at, then give me a call! I'm here to help you get the home you want and want the home you get!

kylesignature.png
January 02, 2018 /Kyle Clayton
real estate, real estate investment, realtor, home loan, home in five, homeowner, homeownership, buying a home, first time homebuyer, tips for first time home buyers, millennial, millennials, remax, remax professionals, team clayton, real estate market, Phoenix, arizona, maricopa county, down payment assistance, down payment, no money down, closing costs, how to buy a home, mortgage, mortgage broker, home in 5 program, down payment assistance arizona, home plus program, down payment programs
real estate, entrepreneur
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August is the Month of Miracles!

August 15, 2017 by Kyle Clayton in entrepreneur, real estate, charity

Did you know that 1 in 4 Arizona kids will be treated at Phoenix Children's Hospital in the next 12 months? Phoenix Children's Hospital touches the lives of many families in the Valley and that is why we're supporting Children's Miracle Network. 

Read More
August 15, 2017 /Kyle Clayton
Children's Miracle Network, Phoenix, Phoenix Children's Hospital, Children's Miracle Network Hospitals, REMAX4Kids, RE/MAX Professionals, RE/MAX, fundraiser, fundraising, charity, charitable, Miracle Home Program, Children's Charities, children's hospital, Month of Miracles
entrepreneur, real estate, charity
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downpayment

How to Get a Low Down Payment on a House

May 01, 2017 by Kyle Clayton in real estate

Homeownership is a goal that many people around the world share. Our desire for shelter is an innate need we have as humans. Sometimes, the only barrier to owning a home is coming up with the money down or not wanting to drain your bank account with a down payment.

Here's the most popular option for down payment assistance:

Home in 5 Advantage: this is the most used program for home buyers, offered through FHA. It offers up to 5% in downpayment assistance for eligible buyers. The requirements are that you: have a minimum credit score of 640, make less than 90k a year, buy a home less than 300K, and have a debit-to-income ratio of 45% (or better). You can use this program even if you own, or have owned a home! An 8 hour class on homeownership is also required, once you qualify for the assistance.

Bonus! If you work in a qualifying field, you may also receive an additional 1% in assistance!*

The catch? Your interest rate is going to be higher than average because you have less, 'skin in the game' so-to-speak. You will also have Private Mortgage Insurance included in your payment, that will cost you extra too. There are other administrative fees and closing costs involved, so you will still have to come up with some money out-of-pocket. However, your REALTOR® can also work to negotiate for the seller to help pay some of those closing costs. 

This assistance does not have to be repaid! Ever!

So if you need help with a down payment, don't hesitate to reach out to a mortgage broker and find out your options. They'll be able to let you know your interest rate, amount of assistance, fees, and other information; so you can get the full picture of your financial options when buying a home. Then we can search for homes within your financial comfort zone, to help you accomplish your real estate goals!

Have questions? Email me, kyle@teamclayton.com or connect with me on Facebook!

kylesignature.png

*Qualifying fields include: Veteran, Police, Fire, Nurse, Teacher, First Responder, Doctor, Military, and others. 

May 01, 2017 /Kyle Clayton
home in five, down payment assistance, down payment, homeownership, home loan, homeowner, first time homebuyer, realtor, buying a home, closing costs, mortgage, mortgage broker, phoenix housing market, millennial, no money down, plebotomies, phoenix, real estate
real estate
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forsale

Sell Your House: 4 Reasons Why Now is The Perfect Time

April 25, 2017 by Kyle Clayton in real estate

It's a sellers market! You may have heard this already and it's true! Currently there are not enough homes for sale to keep up with the high demand, and that creates a unique opportunity for homeowners. These two conditions are perfect for those who might be sitting on a pile of equity or homeowners who just need a change.

  1. Return on Investment: you've invested your money in this home and with rising prices, you've reached your desired return on investment. Are you ready to use that return to further your investment, or maybe in another property or another investment vehicle? You have options and there are opportunities to maximize your return in today's conditions! 
  2. Low Inventory: simply put: there are not enough houses for sale to meet the demand of home buyers in the market. A home that is put on the market in a low inventory condition, may end up with multiple offers - and ultimately sell for a price above asking. A professional, experienced REALTOR® can assist with listing you home, placing your home in the Arizona Regional Multiple Listing Service (ARMLS), which will expose your home to thousands of online search engines, and hundreds of buyers actively looking in Maricopa County. For Sale By Owners do not have access to ARMLS and with limited exposure, they typically do not get multiple offers. 
  3. Interest Rates: rates are still low, so if you are buying up or downsizing, you can save money by purchasing your longer-term investment property now. Plus, buyers are more likely to want to buy before interest rates rise, increasing the demand for properties like yours. 
  4. You Deserve the House That You Love: chances are that you purchased your home in the downturn market, and maybe you updated your home - or maybe not - if you want something different, then now is the best time to think about selling. Since 2007 prices in Maricopa County have risen 87.9%, so you may be sitting on enough equity to upsize or downsize, depending on your real estate goals. Why not use that equity to buy the house you have been dreaming of? After all, you deserve a house that you love!

Selling your property is a big step but if it's been something you've been thinking about and market conditions are lining up with those goals; it's time to consult an expert! As a full-time, local expert, I can help you determine the value of your home and help you make a logical, informed decision that is best for your lifestyle. The market is ready for fresh inventory and your house may be the most desirable in this area, giving you the best conditions to accomplish your goals!

Let me know if you have any questions, email me at Kyle@TeamClayton.com or connect with me on Facebook!

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April 25, 2017 /Kyle Clayton
real estate, for sale, for sale by owner, first time home seller, top reasons to sell, selling your home, selling a home, tips for first time home sellers, homeowner, home equity, home valuation, home value, homeownership
real estate
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myhome

What's My House Worth in Today's Market?

April 18, 2017 by Kyle Clayton in real estate

Are you confused about your home's value? There is a chance that you may have more options than you thought. Home values continue to rise in Maricopa County and across the country. Let's find out more:

When did you buy? If you bought between 2007 and 2012, you could be sitting on as much as $100,000 in equity. Of course that depends on your home, location, and upgrades. However, most people in Maricopa County saw an 87.9% increase in their home's value. (ARMLS stats, median sales price)

If you bought before then, you may have more options then you thought. If you bought after 2012, your options may be limited depending on your financial goals. 

So, check your homes value now and get the data you need, to make the right choice for your family. 

Now that you have an estimate of the value, it's time to think about your goals. Do you need more space? Less space? Is liquidating the ROI most important? How much? Once you know, prioritize that list and find a REALTOR® that can accomplish those goals. 

I hope this helped and at least gave you some more information. I know your home is one of your biggest asset but it's also your families home. My goal, as a REALTOR®, is to listen to your priorities and make them happen to the best of my abilities. So if you're ready to explore your options for selling, let me know. 

Email me at Kyle@TeamClayton.com or connect with me on Facebook!

kyle

P.S. Inventory is low and it's a sellers market!

April 18, 2017 /Kyle Clayton
homeowner, home value, equity, home equity, moon valley, phoenix, moon valley country club, home valuation, maricopa county, real estate, real estate investment, what is my home worth, housing market, north phoenix, phoenix housing market, home appraisal
real estate
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benjamins.jpg

How to Buy a House With No Money

April 17, 2017 by Kyle Clayton in real estate

Well, not literally zero dollars. Unfortunately, it's rare to negotiate a deal with zero money down but it has been done. What is more common is purchasing a home with very little money down. It all depends on your financial situation, loan type, and the seller of the home you want to buy.

As a starting point, you're going to have to have $1,000 as an "Earnest Deposit". It's a way of showing that you are seriously interested in buying the property. That's going to be a part of every real estate transaction, it will credit to your sales price but it is still cash you have to come up with out-of-pocket. 

Secondly, you're going to have closing costs that range anywhere from 2% to 5% of your sales price. So, for a $100,000 home, closing costs would be $2,000 to $5,000 dollars, with the average being around $3,000. Having a REALTOR® on your side will give you the help you to negotiate a deal with those costs in mind. There are a variety of ways a REALTOR® can negotiate a deal to help you pay as little as possible. Closing costs are unavoidable but can also be gifted if that applies in your situation.

Now is the time where down payment assistance programs kick in, a popular one is the Home in 5 Advantage program. You could qualify for 2.5% to 3.5% of down payment and closing cost assistance, depending on your financial position. There is also the Home Plus program and each lender also has their own programs.

Depending on your loan, there may be other fees, costs, and rates that apply, they may even affect your monthly payment. It's important to have an open dialogue with your mortgage broker to make sure you know what fees and rates you will be charged. 

You have to balance your financial goals with your homeownership goals to find what is right for you. Focus on what is important to you—is it a certain budget, low interest rate, low out of pocket costs, or something else? Think about it, then talk with both your lender and REALTOR® so that they can help you achieve your goals.

When you choose to work with professionals, you will have a team on your side fighting for your goals. Literally. This is why using a licensed, full-time real estate agent is crucial to you buying a home with little money down. Finding the right mortgage broker is also important because they each have different styles and offer different programs, so don't be shy about shopping around.

Check out my video on down payment assistance programs for more information. 

Have any questions? Email me at Kyle@teamclayton.com or on Facebook!

kyle
April 17, 2017 /Kyle Clayton
mortgage, no money down, down payment assistance, down payment, earnest money, closing costs, interest rates, buying a home, first time homebuyer, mortgage broker, home loan, real estate, realtor, homeowner, homeownership, benefits of homeownership
real estate
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firsttimehomesellers

Tips for First-Time Home Sellers

April 11, 2017 by Kyle Clayton in real estate, entrepreneur

When you bought your first home, you probably thought that was 'the one' and you'd never move again! Until now, when home values are rising and you need a little more space. As a Seller, you're in the driver seat and can take control of the sale of your home. The choices you make now will be what set the tone, so being prepared will make the process much smoother.

Here's some tips for selling your first home:

  1. Detach and Declutter: the first thing you want to do is realize that your house, is about to be someone else's home. That disconnection can help you in negotiations too. You'll also want you to declutter and make your home a little less personal. This will help potential buyers visualize themselves in the home. That makes them more likely to buy. 
  2. Price it Right: competitive pricing gives your property exposure to as many potential buyers as possible. That exposure can lead to more interest and multiple offers, especially in today's market. The more interested buyers viewing your home, could drive the price up. If you start too high, you skip all that excitement. Correct pricing also prevents potential appraisal issues that could come up once you have an offer accepted.
  3. Stage: If you are living in your home, staging it means things are clean and tidy. All the beds are made, the house is at the most presentable level possible. If you're moving out of the house, that means we bring in furniture and other items to stage the house. It still conveys the 'homey' feeling without a family being in the home. 
  4. Be Ready for Showings: When you list your home for sale, you want to make it as easy as possible for agents to show the house. However, it's still your home and you may have kids and pets. So, have a conversation with your REALTOR® about when you want the house available for showings. You will also want to think about open houses and what you expect with those events. Knowing how you will handle showings and when they'll happen will take some stress out of the process.
  5. Minor Adjustments and Repairs: your REALTOR® may suggest a couple of items to repair or fix to make the house as desirable as possible. The home's systems and appliances should be working. Touching up paint or cleaning windows, helps make the property stand out, and more likely to be considered as desirable by buyers. Some repairs will also alleviate inspection issues down the road too.
  6. Time to Negotiate: when an offer comes in, you need to be ready to make a deal. You are in the driver seat and can decide what you will or won't accept. However, just like any other deal, you have to be willing to negotiate and work to make the best deal happen. Focus on what is important to you, such as sales price, timing, repairs, and minimal concessions. Whatever it is, know that you'll have to make some adjustments to hit your ultimate goal. 
  7. Get to Close of Escrow: once you've agreed upon a price and terms, it's time to close. After the buyer does a home inspection, they may ask you to make repairs to items found in the inspection. So be prepare, and don't take this part of the process personally. If the buyer is financing their purchase, your home will need an appraisal. This is another area that could be open to negotiating your sales price. If the appraisal meet the sales price, the deal moves closer to completion. Just be patient!
  8. Find a Good REALTOR®: A licensed, full-time real estate agent will give you the representation you deserve. In a competitive market, negotiations matter, so choose an agent that can negotiate for you. Ask them about what they have negotiated for past seller clients. If they can give you more information, they may be able to produce the results you want. (Ask us!) Professional photos of your home to be displayed on the internet will give your house the exposure it needs to sell. If the REALTOR® you are thinking of hiring is not offering this service, you are want to consider a second option.   

Today's market is competitive, and with the lack of available homes for sale, this creates what we call a "sellers market." Now is a great time to think about your options when it comes to selling. Especially if you bought during the downturn, you may have a lot of equity, and we can help you cash out, and upgrade your living condition. If you need more space, or maybe even less space, or just a change of address - it's a great time to take advantage of the opportunities available. 

Knowing the process is half the battle because then, you'll know what to expect. After that, it's just about working to get you the best deal that accomplishes your financial goals.

If you have any questions email me at Kyle@teamclayton.com or connect with me on Facebook!

kyle
April 11, 2017 /Kyle Clayton
first time homebuyer, homeowner, first time home seller, for sale, selling your home, tips for first time home sellers, for sale by owner, selling, real estate, realtor, down payment assistance
real estate, entrepreneur
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newhome

The Benefits of Homeownership

March 30, 2017 by Kyle Clayton in entrepreneur, young entrepreneur, real estate

We all need a roof over our heads, whether it's a home, apartment, condo, or townhouse. However, housing can be a complicated and even become an emotional decision. Especially after the downturn, people can be hesitant to buy a home, the good news is homeownership is still beneficial. 

Health Benefits: Homeowners and their families are generally more engaged in the community and healthier individuals, mentally and physically, according to Mark Lindblad, research director at the University of North Carolina’s Center for Community Capital. Children who's parents own a home also do better academically. 

Tax Benefits: if you're single or married, without any children, you probably don't have many deductions to help lower your tax burden. Owning a home automatically allows you to deduct taxes and interest paid that year. Make sure you speak with an Accountant to make sure your deductions are correct. 

Stable Costs: Rents are rising in today's market and owning a home, with a fixed rate loan, makes your housing costs predictable. As you pay down the loan amount, your mortgage will cost you even less. Rent is always cheaper in the short term, but owning a home stabilizes that cost and lowers it in the long term. A rental will never do that. 

Build Wealth: Homes typically go up in value, although that can fluctuate in the short term, house values in the long term are stable. Real Estate is a long term investment so be patient. Luckily there are also monthly gains in equity as you continue to pay your mortgage down. The bottom line is that real estate is still a great way to build wealth for you and your family. 

Capital Gains Exclusion: When you sell your primary residence for a profit, you get to keep $250,000 if your single and $500,000 if you're married. You'll pay $0.00 in capital gains taxes. ZERO!

The financial benefits are clear but the social benefits are based on stability. So when thinking of buying a home, make sure you're going to stay there for the long term. Then get a fixed rate mortgage and look for downpayment assistance if needed. That, along with a stable job, will ensure that you reap the financial and social benefits of owning a home. 

Need help making those decisions? Know someone buying or selling? Please contact me, Team Clayton Real Estate is ready to help you! Visit: www.teamclayton.com or email Kyle@teamclayton.com

March 30, 2017 /Kyle Clayton
homeowner, first time homebuyer, millennial, millennia, real estate, realtor, buying a home, benefits of homeownership, down payment assistance
entrepreneur, young entrepreneur, real estate
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