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Sales

Simple Staging Tips for a Fix and Flip Deal

I’m no Martha Stewart.  However, I know a kitchen looks better with staging than it does without. Professional interior designers will tell you that a vacant home’s kitchen, dining room, family room and master bedroom should be staged with furniture, pictures, bath accessories and greenery to help “identify” the space (a fancy way of saying these items help the buyer figure out how their stuff ...
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Closed: Long lost Las Arboledas

Imagine you live next to a vacant home.  Not too ordinary given today’s real estate market right?  But this house has been vacant a long time, a very, very, very, very, very long time. This home has been vacant so long all four seasons changed – twice. I posted here about Las Arboledas on January 13th.  I wrote a short sale offer on the Gold Canyon, Arizona property in August, 2010.  It had ...
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Closed: Phoenix REO After 1-Day on the Market

Last week, I posted a video about an REO in Ahwatukee my Realtor, Bill Watson, found on the Arizona Regional Multiple Listing Service. Purchased December 20th, 2011, it went on the market January 17th.  I wasn’t in much of a rush to get the rehab done in my normal 7-day window because sales are typically slow to start at the beginning of the year.  I didn’t want this listing to die on the vine ...
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Held Hostage by a Real Estate Acronym

BINSR: BUYER’S INSPECTION NOTICE AND SELLER’S RESPONSE. You accept the offer.  Escrow is opened.  The home inspection is completed.  Then you get a BINSR.  What the heck is a BINSR? It’s a three-page form used in Arizona.  Filled out by the buyer after the home inspection is complete, this document lets you, the seller, know that the buyer intends to do one of three things: Accept the pr...
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Why a Home Buyer Really Cancels a Deal

The email subject line said it all:  COSMOS CONTRACT CANCELLED And the explanation, from the inspection report, for why the buyer cancelled followed: Pool & Spa Heater has been bypassed - heater non-functional. Low Pressure in pool pump Pool equipment missing a few valves/handles. Garage Doors: 3rd car door not working at all, main door chain is off. Nearly-New Water Heater igni...
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Singing the Appraisal Blues on Melinda Lane

DISCLAIMER:  IT’S NOT THAT I DON’T LIKE REAL ESTATE APPRAISERS.  I HAVE SEVERAL FRIENDS AND COLLEAGUES THAT ARE REAL ESTATE APPAISERS.  I SYMPATHIZE WITH THEM.  LIKE MOST OTHER REAL ESTATE PROFESSIONALS THEY ARE WORKING TWICE AS HARD FOR HALF THE MONEY.  IT’S THE APPRAISAL SYSTEM THAT SUCKS. My frustration with the residential real estate appraisal process has been well documented.  I first wro...
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Cosmos – 2011 Biggest Loser Winner

My flip on Cosmos Circle in Scottsdale is this year’s winner of the biggest loser contest. This house would have tipped the scales and 450 lbs. and shed over 200 in the course of 90 days. Purchased at a trustee’s sale on 9/20/11 for $486,000, I dumped $48,000 into it with upgrades that included brand new 20” travertine tile, carpet, stainless steel appliances, granite countertops in the kitchen...
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