iBuyers are robbing homeowners BLIND

Leaving Money on the Table with Opendoor – ibuyers taking your equity from you

Its time to sell my personal home. We have a situation that requires at least 2 more rooms for a family member to live with us. I know my homes value (I am a Realtor, 20 years now and I average $10-$12M a year in annual sales, so I am no slouch). I priced my house after running comps, at a sweet spot of $474,900. Now, I could have “set the market” at $500k or “given it away: at a price lower than $474,900. I have a corner lot, a swimming pool wrapped with travertine tile which cost north of $50,000 to build (pool is a big one, and six feet deep at its deepest point). Lot size is just over 12,000 square feet. We have a huge grassy area for kids and dogs. Plenty of mature shade trees. Sport Court and RV Slab and Gate.

The house itself is a 3 bedroom plus den, along with 3 bathrooms (3 full, one powder). Split floor plan, 16 foot ceiling in the great room (kitchen  and dining as well) with 10 feet everywhere else. Bamboo flooring in the great room and bedroom #3. Carpet in the master and guest room. Tile everywhere else. All single level with just under 2,400 square feet, plus a 3 car garage. So its a nice house. Fulton Home actually (Solid builder in AZ, in fact, we had it inspected, only items “wrong” with the house were two windows that no longer want to stay open).  Located in a neighborhood of 109 other homes, all single level or basement homes. No two story homes to be found.

So, I reached out to Opendoor and Offerpad just out of curiosity and to honestly see what they offer and how. I am going to drop numbers now, so be prepared.

Again, my house comps out at $474,900 (sweet spot as I call it).

Opendoor offered me a price range of $398,000 to $486,000. The Catch? They tack on a fee of 8%. Convenience fee they call it. oh, and an additional 2% for closing costs etc. So 10% right off the top. Now, we know everyone needs to make money, so they have to “pay” less than its worth for them to stay in business (I totally get that) BUT… For Math and fairness, I averaged out their offer to $442,000. Now to the math:

 

Open Door Offer:

$442,000 x 10% = $44,200 which means my NET with OD would be $397,800

(right at their low range of the offer provided)

Offerpads Offer:

$436,422 x 10% = $43,642 which means my NET with OP would be $392,779

(I used the same percentage to be consistent. Offerpads fees are all over the place)

Conventional Sell (with a Realtor):

$474,900 x 7% = $33,243 which means my NET with a REALTOR would be $441,657

Did you get all that? Okay, so lets break it down now. After all is said and done, Opendoor leaves me with $397,800. Offerpad leaves me with $392,779 and using a Realtor, leaves me with $441,657.

So the question becomes, is it truly an “inconvenience” to have potential buyers walk through your home? Is it really such a hassle to have one or two (maybe three) open houses in a Month to sell your home for “Fair Market Value?” Remember, I priced my house in the “Sweet spot” not setting the bar, but not giving it away. This “click of the mouse” convenience is going to cost, based on my scenario, a home owner between $43,587 and $48,878 dollar!!

For those of you who don’t realize it, for every $10,000 you finance, you’re adding $60 a month to your payment, So if you were able to use $40,000 of the above proceeds as part of your down payment, you’ll be saving yourself $240 per month (that’s $2,880 a year-that’s a nice vacation if you plan it right).

You need to sell your house, educate yourself. This formula may work for some, but on a whole, I cannot imagine anyone walking away from $30 to $40,000 dollars just to avoid having buyers walk through their homes (which is all done by appointment nowadays, so there are truly no “drop ins” as some of the commercials you see and hear lead you to believe). Get your FREE market value by clicking here, fill out your info, and I’ll get back to you within 24 hours. No hassle, no spam, no lighting up your phone or in-box, just an honest opinion, based on your home and its comparable sales, then you make the choice.

I can pretty much guarantee you, I will save you money and put more of it in your pocket than Opendoor, Offerpad, Zillow, Redfin etc etc etc.

HUD Homes for Sale in MESA. VA okay

Mesa HUD Homes for Sale – HUD Homes on the AZ Market

Currently (as of August 15) there are 2 HUD Homes for Sale in Mesa, AZ. One is located in a regular neighborhood community, the other, in a 55 Plus, active adult community. What is a HUD home? The easiest way to explain is this: It is a home that has gone through the foreclosure process, failed to sell at auction. The bank takes it back as a Real Estate Asset, then decides in lieu of keeping it, they sell it to the Govt. IE, HUD. The price of this sell (Bank to Govt) is typically less true market value.

There are some occasions, where HUD will take over the home prior to it going back to the bank by offering a Deed in Lieu of Foreclosure or they’ll grab it at the Trustees Sale. Either way, its now a Govt. owned home and historically, this means a discounted price to the home buyer.

This HUD Home was built in 1974. It features 3 bedrooms and two bathrooms with just over 1,700 square feet along with a swimming pool. Now, its important to note, all HUD Homes are sold 100% as-is. What you see is what you get, they will not fix anything or offer any allowance in lieu of repairs. This particular home is subject to an FHA Appraisal. Some of its features included an RV Gate, Parking Slap and a enclosed patio area. The kitchen is large and feeds into the living room (or great room as some people refer to it). Price tag is $269,000. Value is strong on this one, as the comps suggest a range between $260k and $287k

This next HUD Home in Mesa is priced at $196,000 and its value range is between $196,000 and $2016k with an ideal price of $206,000 if I were to list it today as a traditional sell.

This one is located in a 55+ Community, IE, an Active Adult neighborhood which requires its occupants to be at least 55 years old. Located off Higley and Southern in the Sunland Village Community, this HUD Home has 2 bedrooms and two bathrooms.

For more information on the HUD Home Buying process, reach out today. When the market took a turn for the worse about 10 plus years ago, I was selling and closing 60-70 HUD homes a year. They are not the “smoking deal” they used to be, but still a nice option for a first time buyer, looking to get into a home below market value, that isn’t afraid of doing some work.

602-321-6188 t get started! #RLS8GUY #Veterans

 

Horse Property for Sale in Queen Creek AZ – 4/3.5/4G Acre Lot

A rare find in the Maricopa county side. This Horse Property for Sale, sits on a 43,580 square foot lot and is a blank canvas for you to construct your ideal horse property. With a small barn/tack room already in place, but built off to the southwestern side of the land, you have plenty of open space to put up your roping pin, corrals, turn out barn and other animal friendly structures. You want Goats? Boom, built a spot for Goats. You want Chickens? Yep, you can have chickens, You can have just about anything you want aside from Pigs (unless the pig is your domesticated pet).

The bedrooms are large and the floor plan is split in this Queen Creek home for Sale. The master bedroom is large with a door leading outside. The master bath features a shower and a tub, with his/her vanity sinks and a large walk in closet. The other bedrooms are ample in size and a queen bed can easily fit in all 3. The great room is laid out perfectly, with a large area for entertaining. The kitchen portion features a large curved kitchen island, that can easily seat 6-8 people with bar stools. Granite counter tops, nice cabinetry and ample counter space. A nice sized pantry and breakfast nook top of the area. Recessed lighting and ceiling fans everywhere as well. Lots of custom touches, makes this a wonderful spot to call Home.

To arrange your private showing or get your questions answered, reach out today.

Move in ready home in Maricopa – 5 Bed 3 Bath 2 Car Garage

Located in the newer community of Santa Rosa Springs in Maricopa (the city). This 5 bedroom home is priced better than the brand new ones being built by the same developer in the same community! That’s right, you read that correctly. The Base price of this home starts at $249,900 without options and upgraded. We are priced WITH options and upgrades, making this 1 year old home, move in ready at a price you cannot beat! With just over 2200 square feet, this split floor plan is perfect for a large family or someone who enjoys entertaining and having guest over for the weekend. Everyone has their own space.

Built in 2018, this single level home for sale in Maricopa, was built by DR Horton, one of Arizona’s premeire home builers. The home itself is situated on a cul de sac lot, which means minimal traffic flow and a tad bit more peace and quiet. Check this out, its ideal for VA Financing or first time buyer programs that offer great incentives with Grant Money. To get more details on this, or any home listed in the City of Maricopa, reach out today! Remember as a Buyers Agent, I don’t cost you a dime! 602-321-6188

 

Simple plumbing tips to avoid disaster.

Robins Plumbing provides hints and tips – Taking care of your Home

Home ownership has its responsibilities, in fact, over my nearly 20 years of helping buyers buy and sellers sell, I have come across at least a dozen potential leads that have said NO to buying a home, as they didn’t want to deal with the upkeep. If you think about it, owning a home requires monthly maintenance, but its no different than owning a car, you need to change your oil, filters, add gas, check your tire pressure and so forth. So with a house, you have a list of items to do from time to time as well.

Real Talk USA prided itself on educating its listeners by having expert advisers each show, sharing the knowledge and wisdom regardless of the shows theme. Having Stephanie Robins on the show from Robins Plumbing was no exception, her hints and tips can save you thousands of dollars. Watch, learn and share.

For more info, visit the Real Talk USA Facebook Page or simply call, 602-321-6188

Getting your home Professionally Inspected gives you peace of mind

Fact or Fiction about the Home Inspection – Reasons to Inspect

Investing in home ownership is obviously a huge step in a persons life, thus the importance of making sure what you are buying, is in good condition. For nearly 8 years, I have worked with Larkin Palmer of Element Enterprises Home Inspections. What I like most about Larkin, he was  custom home builder, built over 500 single family homes n East Mesa. He never had a complaint filed against him at the ROC or the BBB. He stands by his work, does a great job educating the home buyer. He explains what is wrong, why its wrong and the potential cause and the solution. Being a first time home buyer is stressful enough, make sure you have the right team standing by helping you. From obtaining your financing, to securing your property through negotiations, the home inspection is the final step before the home is appraised for value. Here’s is a quick 2 minute video, on the home inspection and what is FACT or FICTION. Call today at 602-321-6188 or reach out online at RLS8GUY.com

Home for Sale in Tempe – Tempe Homes with 5 Bedrooms

Home for Sale in Tempe – Tempe Homes with 5 Bedrooms

Looking for a 5 bedroom home For Sale in Tempe? Look no further! This Tempe Home is located just off McClintock and Guadalupe and is located within the Kyrene School District. This single level Tempe Home for Sale has 5 large bedrooms as well as 2 full bathrooms.  The home has gone through upgrades over the last few years, which includes granite counter tops, updated and upgraded kitchen and bathroom cabinetry. The home has mature landscaping front and back and is over 2,100 square feet. Did I mention the 2 car garage? Yep, has that as well. Priced at a cool $349,900, reach out today to arrange your exclusive showing by calling 1-855-RLS8GUY or online at Chris@RLS8GUY.com

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