Newsletter -- March 2013
(Old Newsletters)
Results from Last Poll
What is your favorite time of year to visit Sedona?
Last month we asked Sedona Buyers what their favorite season to visit Sedona is. From the poll results we concluded that it depends where our clients come from. Our eastern US clients like visiting in the winter because we are warmer than their local temps. Our clients from Phoenix and other warmer climates like to visit us in the summer to escape the desert heat, etc.
If you haven't ever visited Sedona yet, we always recommend Spring or Fall. However, there truly is no best time to visit. Sedona's four mild seasons make us a great place for visitors year-round!
Contact Us or call - 928.282.4166 x 253 for more information about the Sedona area & local Sedona Real Estate updates.
If you have any suggestions for new poll topics, Send Us an Email.
Please Help Us Improve
Service Reviews have become a hot commodity on the web. We can tell future clients how hard we will work for them, but it always comes better from a third party. If you haven't had a chance, please take a moment and let us know how we did. For those of you that have already helped out, thank you once again.
If you have any difficulty, let us know and we can walk you through the process. Thanks again for your time!
365 Reasons to Live in Sedona
#91 - Oak Creek Country Club
Sedona is home to some of the most spectacular golf courses in Arizona and possibly the whole country. Among the unique courses, Oak Creek Country Club is one of our favorites due to its atmosphere and amazing Red Rock views.
Golf Course Specs:
- Robert Trent Jones Designed
- 18-Hole Championship Golf Course
- Open to the public
- Traditional Layout (Comparable to Midwestern Courses)
- 6,824 yards, 3 lakes, and tree-lined meandering fairways
- 1st Golf Course in Sedona AZ
Click for full article: Oak Creek Country Club.
#86 - Sedona’s Proximity
to San Diego, CA
Whether you are escaping Arizona’s summer heat or warming up in the winter, San Diego, CA is a must do vacation for all Sedona residents. Over the years we have made the drive to San Diego numerous times and we always come home to Sedona more appreciative than when we left.
Only eight hours south-west of Sedona, San Diego is the perfect weekend getaway. Relax on the beach, ride a wave, bike ride around Coronado Island, or experience the many fabulous restaurants. If you are like us, you will enjoy the beach city, but soon will long for the tranquility of your home in Sedona.
Click for full article: Sedona’s Convenience to San Diego, CA.
Buyer & Seller Tips of the Month
Buyers
Tax Advantages of Home Ownership
The question of, “Is renting really cheaper than owning?” is always present when working with Sedona Real Estate Buyers. The simple answer is yes, renting is less expensive than owning Sedona Property in today’s market. However, there are more points to think about when calculating the comparison of renting versus owning.
One such benefit of home ownership is the deduction of your mortgage interest expenses. As tax day approaches, we’d like to remind you that you may be missing out on extra tax savings if you do not own a Sedona Home. Whether it is your primary residence, or a second home, you can deduct the mortgage interest paid on your loan throughout the calendar year from your personal income tax return. This includes your primary mortgage loan's interest as well as any interest paid on a Home Equity Line of Credit (a.k.a HELOC).
Another part of your monthly mortgage payment that may be tax deductible is your annual property taxes. Considering these potential tax benefits, we strongly urge you to talk with your accountant to figure out if buying a home benefits your current tax situation.
If your accountant gives you the green light to move ahead with Buying Sedona Property, Contact Us or Search Sedona Homes for Sale now! Together, you may find out that owning a home (instead of renting) actually leaves more money in your pocket after April 15th than you expected.
While we are still on the topic of taxes, let us throw out some other possible tax savings of buying. If you bought your home in 2012, or the tax year at hand, don’t forget to ask your accountant if you can write off discount points paid upfront and/or origination fees for your new mortgage. We find that often these expenses can be claimed by the buyer even if the seller paid for them in closing costs. Interesting!
Because the Sedona Real Estate Market is largely a Second Home/Vacation Home market, we’ll also mention a few possible tax deductions for second home owners. Items such as mortgage interest, property taxes, property management fees, home depreciation and other rental costs are typically tax deductible. Speak with your accountant and make sure that you keep good records of all property related expenses incurred over the year.
Please keep in mind that the IRS has many rules for homeowners, especially second homes. The number of days rented vs. owner occupation plays a large role in determining what tax breaks are allowable. Always follow the updated rules for the current tax year and consult with your accountant to see if you can benefit from these tax savings.
For more home buying tips, click for our Sedona Home Buying Guide.
Sellers
Prepare for Multiple Offers
In the Real Estate Boom of the last decade, multiple offers on properties were much more common. Today sellers are starting to experience the multiple offers phenomenon when they price their Sedona Homes correctly.
Understanding what makes a strong offer is key. In today's market we want you to be prepared if multiple offers come in on your property. One way is to respond to all potential buyers with a counter for their "Highest & Best”. We want the buyers to present their highest price with the best terms. You may come to realize that the highest price is not always the best offer.
Below are the components of an offer to focus on when considering a "Highest & Best Offer".
- Highest Price
- We know your net profit is a high priority, but please don't let this component be the most important factor when choosing from a group of offers. If prices are close, receiving your proceeds from the sale sooner may be more beneficial for your situation.
- Shortest Inspection Period
- We recommend giving buyers an adequate amount of time to inspect the investment they are about to purchase. Offers with a shorter inspection period benefit the seller and can expedite the escrow process. Typically the earnest money becomes non-refundable at the end of the inspection period (unless there is a financing contingency). That fact makes the buyer typically commit to closing the transaction or to cancel and move on. The earlier you can get this commitment from the buyer, the better chance you will have to close the sale.
- Fewest Expenses
- Always factor in the Seller's required expenses. When the Seller is asked to pay for items such as a Lot Survey, Home Warranty, and Closing Costs, the net proceeds are affected. A higher offer with these expenses added in may actually net you less of a return when you sell your Sedona Property.
- Ability to Close (Cash)
- Financing is always a contingency of a contract. If you have a cash buyer with reasonable terms, we may urge you to take a hard look at that offer; especially when compared to offers where the buyer will be borrowing funds. Cash is still "King" in Sedona's Real Estate Market.
- Shortest Close of Escrow
- A short inspection period allows you to promptly determine if the buyer will back out due to the condition of the Sedona Property. Once the inspection period is over, an escrow can move quickly. Obviously the shortest Close of Escrow is always appealing to sellers. We recommend weighing this term along with the others when making your decision of which offer is strongest.
We hope this helps in your decision making as a Seller of Sedona Property priced right for today's market. Contact Us with any questions about negotiations. We are here to help!
For more Selling Tips, or ideas to Stage Your Home, visit the Sedona Property Selling Tips on our website.
Feature Sedona Subdivision
Thunder Mountain Video Tour
Located in West Sedona at the base of Chimney Rock and Thunder Mountain, this Sedona Subdivision also has views of Coffee Pot, Cathedral, Cockscomb and the Munds Mountain Range. We think the Thunder Mountain subdivision is a great place to build your dream home or to relocate to in an existing property. Thunder Mountain's West Sedona proximity is a great spot to access and enjoy all that Sedona has to offer.
For more information about Thunder Mountain Property for sale or Subdivision Details please don’t hesitate to Contact Us at 928.821.3508 or 928.282.4166 ext 253.
Thunder Mountain Property Listings
Did you enjoy the video tour of this subdivision? Take a look at the links below and see if there are any homes or vacant land available that meets your needs. Thunder Mountain, located in West Sedona, is a great place to enjoy Sedona Views and amenities! Click below to view:
Featured Properties
80 La Barranca Drive
Sitting high on this 1.04 acre lot, the builder has captured Million dollar Red Rock views or Mogollon Rim mountain views from almost every window. High-end Details include: Rich hand-hewed maple hardwood flooring, soft designer interior paint, coved ceilings, upscale lighting, granite counters, Deville custom maple cabinetry, travertine and fir accent beamed ceiling.
For more features & information on this VOC/Big Park Home please Email Rob & Pam - or give us a call 928.821.3508.
Click for More Information2230 Edgewood Drive
Excellent view lot in West Sedona. Easy build. Sewer available.
Call Rob for more details - 928.821.3508 or Email Us.
Click for More InformationLocal Lender Update
As always, a third party’s recommendation can go further than anyone trying to sell themselves. A few months ago we had a client looking to refinance their home loan. They asked us for our recommendation and we put them in touch with Jonathan Burgueno at Pinnacle Capital Mortgage. The following is a brief recap of our client’s experience as they chose another option to refinance their Sedona Home (None of the following is from Jonathan. The entire recap is from our client’s mouth).
The initial conversation with our client started last November (2012). They asked us if we knew anyone that could help them with their home refinance. We immediately put them in touch with Jonathan and the process started. Jonathan collected their information and completed a Good Faith Estimate (always ask for one when applying for a loan so you can compare rates and terms). The client also sought out rates and terms from their local bank branch.
Originally, our client’s bank branch quoted a rate in the low 3.375% range with a decent sized credit for closing costs. Unfortunately, Jonathan’s rate for Capital Mortgage was close, but a little higher and without the available credit. Our client decided to use their local bank branch and moved forward with them.
We are now in mid-March (2013) and our client’s loan still has not closed. The stories of the bank’s customer service, or the lack thereof, are outrageous. The original bank representative has not been in contact with our client and the current rate is nowhere near the original rate quoted due to the length of time that has passed and overall rising interest rates (approx 3.875%).
Our client is understandably frustrated. They have repeatedly mentioned they would never use their bank again for any mortgage needs. Keep in mind that rates and service are what you are shopping for when looking for the right fit for your mortgage application.
Why we wanted to share this story with all of you is the fact that customer service is still extremely important in all real estate transactions. We appreciate our relationship with Jonathan and his peers at Pinnacle Capital Mortgage. We know that issues can always come up during the mortgage process, but we know Jonathan will be there to help you find a solution. Give him a call today if you are looking for great customer service and low rates for your next mortgage transaction. If you have any questions do not hesitate to pick up the phone or send an email.
Jonathan Burgueno
Mortgage Advisor MLO 290524
Pinnacle Capital Mortgage
Branch Manager
(928) 282-3200
Equal Housing Lender AZBKBR0116852
For more tips & tools, please visit the Lender's Section of our website.
Recipe of the Month
Shrimp Scampi Barefoot Contessa Family Style via Ina Garten
Ingredients
- Vegetable Oil
- Kosher salt
- 1 1/2 pounds linguine
- 6 tablespoons (3/4 stick) unsalted butter
- 5 tablespoons good olive oil
- 3 tablespoons minced garlic (9 cloves)
- 2 pounds large shrimp, peeled and deveined (just buy them that way)
- 1/2 teaspoon freshly ground black pepper
- 3/4 cup chopped fresh parsley
- Grated zest of 1 lemon
- 1/2 cup freshly squeezed lemon juice (4 lemons)
- 1/2 lemon, thinly sliced in half-rounds
- 1/4 teaspoon hot red pepper flakes
Directions
- Drizzle some oil in a large pot of boiling salted water
- Add 1 tablespoon of salt and the linguine
- Cook for 7 to 10 minutes, or according to the directions on the package
- Meanwhile, in another large, heavy-bottomed pan, melt the butter and olive oil over medium heat
- Add the garlic
- Saute for 1 minute. Be careful, the garlic burns easily!
- Add the shrimp, 1 tablespoon of salt, and the pepper
- Saute until the shrimp have just turned pink, about 5 minutes, stirring often
- Remove from the heat, add the parsley, lemon zest, lemon juice, lemon slices, and red pepper flakes. Toss to combine.
- When the pasta is done, drain the cooked linguine and then put it back in the pot
- Immediately add the shrimp and sauce, toss well, and serve.
In hopes of improving our Sedona Real Estate Business & Customer Service
We are always looking for honest reviews...
Our Pledge...
We know that buying and selling a home is an exciting, but stressful experience. We will do our best to make sure you are informed and comfortable throughout the process.
We know the local inventory and are up to date on current market conditions. We will be truthful in our assessments and will strive to make your dream of buying or selling a Sedona Property a success! Give us a call today and schedule an appointment to see great Sedona Real Estate Deals.