Selling With Sarah

Welcome

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If you are new here, you may also want to check out my blog, Tucson Real Estate Market. As an experienced Tucson Long Realty agent, with over 11 years of successfully selling residental property and land in Tucson, I feel it’s important to provide information and insight on the Tucson, AZ real estate market, as well as the national real estate market. My blog includes topics, news, and posts regarding Tucson investment properties, Tucson listings and homes for sale, Tucson home builders, and issues affecting consumers looking to buy or sell a home in Tucson. If you are in the market to buy or sell your Tucson home, or are just curious about the Tucson real estate market, please check out my blog!

Arizona is home to me…  My family relocated to Scottsdale from the east coast when I was a year old. I came to Tucson in 1987 to attend the University of Arizona. During my college years, I discovered what a magical place of unparalleled natural beauty Tucson and its surrounding desert is, and decided to make it my home. I am an experienced, understanding, sincere, and thoroughly dedicated real estate professional who gives 110% to my clients’ needs, and who greatly enjoys sharing the allure of Tucson with fellow residents and prospective residents.

My website was designed with you in mind. Because buying or selling a home involves much more than meets the eye, you’ll find information here on a wide range of topics relative to your move, as well as the Tucson community, local schools, and most important - homes for sale in Tucson. At any time, should you have a question or desire a more detailed explanation, please do not hesitate to contact me by phone, (520) 404-0544 or e-mail sley@longrealty.com

Let’s face it, moving can be stressful… Having been through the process of moving many times myself- I am guided by a strong desire to help people at this important time in their lives. As such, I custom tailor my services to your individual needs (not some formulated package)- in order to minimize your stress level, personalize the process, and ensure that your move is an overall successful and positive experience.

In addition to your primary residence, you may also be considering an investment purchase. You need an agent who has extensive knowledge and involvement in facilitating investment property purchases and sales- of which I do. Please do not hesitate to contact me anytime you have a question or a concern- even if it’s just a request for a good restaurant! While the internet is a viable resource in today’s complex real estate market, it can never take the place of the personal touch, which is my service promise to you. I make it a point of being readily available to my clients and prospective clients. My business is built upon earning my client’s trust, and upon earning your trust and respect- creating a referral based business. Therefore, I do everything in my power to make sure that your move is smooth and hassle free. I guarantee that you will be 100% satisfied with my services, and the value that I bring to your home buying or selling experience.

When considering buying or selling in the “Old Pueblo,” I am truly honored for the opportunity to assist you and your family in the process, and beyond. Come experience the wonder of Tucson…

Sincerely,
Sarah Ley
Your Tucson Real Estate Agent

Avoiding common pitfalls in your Tucson real estate purchase

In today’s complex real estate and legal environment, it is more critical than ever to utilize the services of a real estate professional. Having eleven years of experience assisting buyers and sellers in Tucson, Sarah Ley can help you anticipate the plethora of issues that may befall your real estate transaction.

A few common mistakes that home buyers make include:

• Not having the right fit with a Realtor. Don’t stick with a real estate agent that you aren’t comfortable with just because you don’t want to hurt his or her feelings. Buying a home can be stressful and you need an agent who will work hard for you and be your advocate if and when things get tough. Sarah Ley will work tirelessly to make sure you have the help and guidance you need to ensure that you get the home you want- on YOUR terms.
• Not doing a home inspection. It may seem like an unnecessary step in the process to you, but a home inspection is a critical link to make sure that the home you are buying is a sound investment. Saving a few hundred dollars can end up possibly costing you tens of thousands of dollars in the long run. Even if you think you could do an inspection yourself, or you think it’s unimportant to perform one- unless you are an ASHI certified home inspector, you might miss something. For example, do you know what a pressure release valve is and how to tell if it is functioning? Do you know how to tell if a property has serious structural or termite damage?
• Finding your dream home before being approved for a Mortgage. Nothing is more heartbreaking than finding out your can’t afford the dream home you had your heart set on, or seeing a home go to another buyer when financing has not been properly arranged in advance. As your buyer’s agent, Sarah will make sure that you are pre-qualified by a lender before you begin your home search to prevent such heartaches, and to help you focus only on homes in your designated price range.
• Not giving yourself enough time to get through the process. Unexpected things can happen at any stage of the home buying process. For this reason, it’s essential that you pace yourself throughout your home purchase. Sarah will assist you in coordinating all of the important functions of the transaction (contracts, inspections, title companies, loan guidelines, movers, and more). As your real estate agent, Sarah is well versed in assisting clients to establish a time line that they feel comfortable with.
• Settling for less than what you wanted.  It’s true that you may not get everything you wanted in your home purchase, but don’t settle for a home that you are less than excited about just because you feel pressed for time to find a home. There are other options out there, and if you don’t find the right home to suit your lifestyle in a time frame you can live with, Sarah can help you explore your options. Maybe you would be better off to rent for six months on a month-to-month lease, in order to be able to give yourself more time to find the right home for you for the long run. That feeds into the final item-
• Getting cold feet and not doing anything about it. Let’s face it- buying a home is a big decision. One you do not make overnight. If you are under contract to buy a home, and you get cold feet, it is essential that you tell your agent right away. Sarah will make sure that you are fully aware of the deadlines of the contract. If you get cold feet during the inspection period, you can cancel the contract and get your earnest money back. If it happens after the inspection period, it may cost you your earnest money- or more- but if you truly changed your mind about the house, it may be worth it to have your agent or an attorney advise you on getting out of the contract.

  The bottom line is that hiring a Realtor to represent your needs is essential to making sure that you get the most out of your real estate purchase.  Please call Sarah Ley if you are interested in a no-obligation consultation of your real estate needs.

Tucson Area Information & Attractions

Are you relocating to Tucson? As your Tucson Realtor, Sarah Ley can affirm that there are countless reasons Tucson residents love living here. Just to mention a few: daily brilliant sunrises and sunsets, a temperate climate, hiking, nature respites, resorts, spas, a wide variety of cultural activities, as well as a diverse job market with many high-tech jobs.

Tucson Facts

• Population: 884,000 and growing
• Median Age of Residents: 35
• Average Per Capita income: $32,300
• Largest Employers: University of Arizona, Pima Community College, Raytheon, and Davis Monthan Air Force Base

Tucson’s many claims to fame

• One of most bicycle friendly cities in the United States
• Tucson is one of the Astronomy capitols of the world
• A top resort, golf, and spa/wellness destination
• Quickly becoming a key retirement destination and Tucson is a very popular place for second homes.

Annual Events For a full list of this month’s events, check the Tucson Visitor and Convention Bureau

• JANUARY - FEBRUARY
  • Tucson Gem and Mineral Show
  • Rodeo (Fiesta de los Vaqueros) - even public schools give days off for this event!
  • Tubac Festival of the Arts
• MARCH
  • Fourth Avenue Spring Street Fair
  • Civil War Reenactment of the Battle at Picacho Pass at Picacho Peak
• APRIL
  • Tucson International Film Festival
  • UofA Spring Fling
  • Pima County Fair
  • Tucson International Mariachi Conference
• MAY
  • Cinco de Mayo Fiesta at Kennedy Park
• JUNE
  • Tucson Toros Baseball
• JULY
  • Peach Festival (Willcox)
• AUGUST
  • Summer Saturday Evenings at the Desert Museum
• SEPTEMBER
  • The Greek Festival
• OCTOBER
  • Oktoberfest on Mount Lemmon
  • Tucson Meet Yourself
• NOVEMBER
  • El Tour de Tucson
• DECEMBER
  • Lights at Winterhaven

Places to Visit in Tucson

• Map of attractions
• Pima Air and Space Museum
• Old Tucson
• Reid Park Zoo
• Arizona Sonora Desert Museum

History

• San Xavier Mission
• Arizona Historical Society

Science and AstronomyTucson is one of the astronomy capitols of the world, as the International Dark Sky Association (http://www.darksky.org/) has been successful in its mission to ensure that Tucson is one of the few cities where the stars can still actually be seen at night.

• Flandrau Science Center
• Kitt Peak National Observatory

The Arts, Theaters, Performance Venues

• Arizona Opera
• Arizona Theater Company
• Centennial Hall / UA Presents
• Gaslight Theater
• Tucson Convention Center
• Tucson Symphony Orchestra

Gaming (Gaming is allowed in Tucson only on its Indian Reservations.)

• Casino del Sol
• Casino of the Sun
• Desert Diamond

Big and Little Kids

• Golf & Stuff
• Funtasticks
• Tucson Children’s Museum

Museums

• Tucson Museum of Art
• On the University of Arizona Campus
  • Arizona State Museum
  • Center for Creative Photography

Outdoors Tucson is surrounded by beautiful mountain ranges on every side: the Santa Catalinas on the North, the Rincons to the East, the Tucson Mountains to the West, and the Santa Ritas to the South. If you love hiking, or even just taking a stroll, you can visit Sabino Canyon, or hike Saguaro National Park. For more outdoor experiences, check out the Southern Arizona Hiking Club.

Don’t throw out your warm winter boots; you can always “visit” the snow during the winter with a short drive (about 30 minutes) to Mt. Lemmon. There you can find winter skiing (weather permitting) at Mt. Lemmon Ski Valley.

Golf

• City Courses
• Del Urich
• El Rio
• Fred Enke
• Randolph
• Silverbell

Shopping

• Park Place Mall- East Tucson
• Tucson Mall- West Tucson
• Foothills Mall- Northwest Tucson
• La Encantada- Catalina Foothills

Spas

• Elizabeth Arden Red Door Spa at the Westin La Paloma
• Canyon Ranch
• Westward Look
• Miraval, Life in Balance Resort
• Hashani Spa at Starr Pass

Restaurants Tucson has many award winning restaurants and is quickly becoming a gourmand’s paradise. You will be able to find your favorite chain restaurant in town, but don’t miss out on these restaurants that are unique to the Tucson area. Remember, in Tucson, it’s not unusual to find people dressed casually when visiting even the fanciest restaurants.

Upscale

• Jonathans Tucson Cork
• Le Rendez Vous (French)
• Anthony’s in the Catalinas
• Fleming’s
• Janos
• Vivace, 4310 N Campbell Ave- Italian

Casual

• Delectables
• Fronimos, 3234 E Speedway Blvd (Greek)
• Eclectic Cafe
• Fox Restaurants (Sauce, Wildflower, Zin Burger, North, Montana Avenue)

Mexican Eat at one Tucson’s many delicious authentic Mexican Restaurants!

• Mi Nidito (President Clinton ate here)
• Micha’s in South Tucson , 2908 South Fourth Avenue
• La Parilla Suiza

Coffee Shops If you like Starbucks, you will definitely find one nearby, but these other Tucson coffee shops can’t be beat.

• Bentley’s
• Le Buzz, 9121 E Tanque Verde Rd # 125
• Raging Sage, 2458 N Campbell Ave

Touristy Eat at Trail Dust Town - dare to wear a tie (an expendable one!) when you eat at Pinnacle Peak steak house. Also, check out Dakota Café if you’re not into exclusively cowboy fare.

To find a list of other great restaurants that exist in Tucson only, visit Tucson Originals.

Property Discovery

In the purchase of your new Tucson home, it is important to take the time to uncover any issues, including actual or potential hazards in the home you are looking to buy. This period of time, which occurs from the time an offer is accepted, until the completion of the inspection period is called “Discovery.” Just like in a court case, as a buyer purchasing a residential resale home, you have a set period of time (in resale purchases it is 10 days) after the date your contract is accepted to perform all of your inspections, and discover as much as you can about the property. This discovery period may include any or all of the following: disclosures from the seller and/or the listing agent of the home, home inspections, termite inspections, and possibly other types of specialized inspections (including, but not limited to roof, mold, lead, asbestos, & other types of in-depth environmental analysis). If you are interested in doing additional inspections (above and beyond a typical home inspection, Sarah Ley can help coordinate these efforts, and she can recommend providers of these types of inspections.

In today’s market, you may be purchasing a home that is being sold without disclosures. This is common with bank owned homes, as well as estate sales, and sales of homes that are owned by investors who have never occupied the home. In these types of transactions, it becomes even more critical as a buyer to discover any latent defects the home may have. For this reason, you may wish to ask for an extended inspection period, to ensure that you have ample time to discover as much as possible about the home you are buying. It can be like peeling an onion, as there are many ‘layers’ in any home. For these reasons, it is important to have a professional Realtor acting as your guide to steer you through the process. Please call Sarah Ley to further discuss your concerns about your new home.

Disclosures

Disclosure is a very important part of any Arizona real estate transaction. By law, a seller must disclose certain information about the property to the buyer. The seller will make these disclosures to the buyer using two different forms.

Seller’s Property Disclosure Statement (SPDS): This form gives sellers an opportunity to tell as much as they know about the property, including:

• Improvements or repairs done on the property, including additions and/or renovations, whether or not they were performed by a licensed individual, and if permits were obtained.
• Utility companies, including electric, gas, cable, and phone.
• Heating, cooling, plumbing, and electrical information, including whether the home gets water from a well or public source and if the home is attached to a septic system or sewer.
• Problems with the property, including pests, toxic chemicals, noise, floods, soil settling, as well as any other pertinent issues that affect the usability of the property.
• Homeowners Association contact information and fees, if applicable.

NOTE: For those of you who are new to Arizona, do not be alarmed if a seller discloses to you that they have seen scorpions, bees, snakes, or other reptiles and/or pests on their property. Newer developments often experience more pests while construction is going on or depending on the weather, and chances are that these pests are not going to be a regular occurrence if proper measures are taken.

Lead Based Paint Disclosure:

If the home was built prior to 1978, the Environmental Protection Agency (E.P.A) requires that sellers must complete information about their knowledge (if any) of lead-based paint in the home and the buyers must also sign it to acknowledge the disclosure. If you are purchasing a home which was built in this era, Sarah will give you a pamphlet called, “Protecting Your Family from Lead in Your Home.” Lead based paint is mostly of concern to families with small children, as (strangely as it sounds) children have been known to ‘lick the walls.’ Most sellers do not have knowledge of this type of paint being in their home, but it is required none-the-less.

Additionally, buyers are also required to make disclosures in a real estate transaction. The Arizona court case of Lombardo vs. Albu affirms that a buyer, and the buyer’s agent, have obligations to disclose pertinent facts about the buyer’s ability to perform in the transaction. For these reasons, it is imperative that you have the professional representation of a qualified real estate agent.

Selling Your Tucson Home or Tucson Investment Property

Find out how refreshing it is to sell your home using an expert Tucson residential real estate professional. You need an agent who will use a combination of marketing techniques to sell your home quickly and for the price you want. Sarah Ley is a professional Realtor who is adept at utilizing the latest technology to get your home or Tucson investment property the exposure it deserves. Her credentials include a bachelor’s degree in Marketing from the University of Arizona, which adds to her repertoire of marketing expertise.

She will effectively market your home by helping you select the right price and giving you ideas for making your home look its best in order to stand out from other competing Tucson residential real estate on the market. Every step of the way, she will ensure that the process goes smoothly, including showings, open houses, necessary paperwork, and disclosures. As an experienced Tucson realtor, Sarah knows the current market conditions, as well as comparable homes and properties in the area that will help you decide the best price for your home or Tucson investment property and get it sold quickly.

Buying your first Tucson Home

If you are buying your first Tucson home, you may feel like you are learning to speak a whole new language. Earnest money, down payment, closing costs, inspections- this jargon is completely new! The bottom line is that you need a real estate professional who will walk you through the process, and assist you to make your first Tucson home purchase a rewarding experience. Sarah Ley will ensure that buying your first home is a positive experience. She enjoys working with first-time home buyers, and is highly competent and professional.

Renting vs. Buying:

You will find that going from renting to owning a home is a very liberating experience, but make sure you are ready to make the transition.

Take the time to read all you can about home ownership, with emphasis on how much home you can afford financially. Remember that although lenders will give you a certain amount of money for a loan, this does not mean that you should borrow your entire limit. Be prepared for unexpected future costs, such as maintenance and repairs and remember to factor in home owners insurance and often additional utility bills, such as water, trash, and sewer.

Shop around for loans- many lenders have special programs for first-time home buyers.

A reputable source for first-time home buyers is Fannie Mae’s (Federal Home Loan program) Home Buying Guide.

Home Warranties

You may wish to purchase a home warranty to protect your budget against unforeseen repairs that may occur shortly after you acquire your home. Home warranties cover the repair or replacement of components in the home that would not ordinarily be covered under your homeowner’s insurance, such as: vital systems like electrical, appliances, air conditioning, furnace, and water heater. Optional additional coverage can include the pool, refrigerator, and additional options.  Be sure to read the coverage options carefully. When purchasing your Tucson home, Sarah Ley can help you find a home warranty that will provide you with peace of mind in your new home.

Tucson Home Buyers- Different Types of Loans

When buying a home in Tucson, Sarah Ley can help you to understand the different types of mortgages available to you. Today’s home buyer has a lot of different options available, and many of those options will depend on your credit scores, the amount of money you have for a down payment, and whether or not the home will be owner occupied.

Conventional vs. Federally Insured Mortgages

Conventional and Federally Insured are the two main type of home mortgages available to most borrowers. Within each of these two main designations, there are many variations and differences. Before committing to any type of loan, make sure to read the fine print, as you will want to select a mortgage that has no pre-payment penalty or other restrictive conditions that may limit your option to re-finance in the future, if necessary.

Conventional Loans are offered by your local bank, mortgage broker, or credit union. Depending on your lending institution, F.I.C.O. scores, and debt to income ratio, your borrowing costs and the options and interest rates available to you will vary.

Understanding Down Payments and Private Mortgage Insurance

Due to the sub-prime mortgage meltdown, for all practical purposes, there is no longer 100% financing available to borrowers, except with VA Loans. Some traditional loans will now require a substantial down payment, which ranges from ten to twenty percent of the sales price. If you put less than 20% as a down payment, you will be required to pay PMI (Private Mortgage Insurance). credit, but may not have enough funds for a substantial down payment. Another advantage of this type of loan is that the entire amount of annual interest can be written off, whereas PMI cannot be. The good news (if you have to pay PMI) is that it is tax deductible. A conventional mortgage works best for borrowers who have at least 10% to put down on the home, as well as good credit scores. Conventional mortgages are also great for non-owner occupied, investment purchases, as federally insured loans apply only to owner occupied homes.

Federally Insured Government Loans are available to individuals who qualify under certain circumstances. In this instance, you take out the loan from your local bank, mortgage broker, or other lending institution and the loan is insured by the U.S. Department of Housing and Urban Development (HUD).

Federally Insured loans include:

• Federal Housing Administration (FHA) insured loans: These loans allow you to buy a home with as little as 3% down. Because the government is insuring your loan, it is usually easier to qualify for FHA financing.
• Veterans Administration (VA) guaranteed loans: you must be a veteran of the US armed forces to qualify.
• Farmers Home Administration (FmHA) loans: available to farmers in rural areas.

Financing Your Tucson Home

“Sarah Ley can help recommend qualified lenders to you when financing your home.”

Your home purchase may be the largest purchase you ever make in your lifetime. When it comes to financial matters, it is important to do your homework and be sure you are comfortable with the process. There will be many people offering you advice on how to best finance your home, but make sure you shop around enough to feel confident that you are making informed decisions that are right for you. Sarah Ley can help recommend qualified lenders to you from a portfolio of experienced professionals she has worked with, in order to facilitate a seemless and worry free transaction.

In order to understand all of the closing costs charged by a lender, your lender is required to give you a Truth in Lending Disclosure Statement, which is a good faith estimate (GFE) listing all of the borrowing-related costs that you will incur by financing your home. These extra costs can include: loan origination fees, appraisal cosst, inspection fees, and an application and/or a credit report fee. These fees can total thousands of dollars, so make sure to pay attention, and don’t be afraid to ask for clarification if there is a cost or fee that you are not clear on. Some lenders are able to finance in a part of the closing costs, if you find that it is necessary, and Sarah can help you best structure this in the purchase contract so that it will be acceptable to the seller and your lender.

Sarah Ley’s website has helpful Financial Tools avaiable in order to help you make informed decisions about financing your home. Please contact Sarah to discuss in greater detail the financing of your largest asset.

$8,000 Tax Credit for Tucson Home buyer’s

Now is a great time to buy a home in Tucson! As we speak, the approved $8,000 tax credit is being offered by the federal government to help first time home buyer’s and those who have not owned a home in the last three years buy a home and get an $8,000 tax credit for their 2009 taxes.

If you qualify, an $8,000 tax credit can help you in transitioning  from renting to owning your own home. It can assist with buying furniture and appliances, making any necessary home improvements – like remodeling, landscaping and painting; or paying down consumer debt as you adjust to new monthly expenses. Homes purchased between January 1, 2009 and December 1, 2009 qualify for this outstanding financial windfall.

The tax credit is part of the American Recovery and Reinvestment Act of 2009, and it was signed into law on February 17, 2009. This law was brought about to help stabilize the housing market, with a goal of strengthening our overall economy.

Are you eligible for the tax credit?

The tax credit is designated for first-time Tucson home buyers, as well as buyer’s who have not owned their own home in the last three years. The tax credit is equal to ten percent of the home purchase price, which is capped at $8,000. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Single taxpayers with incomes between $75,000 and $95,000, and married couples with incomes between $150,000 and $170,000 qualify for partial credit.

Homes purchased between January 1, 2009 and December 1, 2009 including single-family, town homes, or condominiums qualify for the tax credit, provided that the home is used as your primary residence. This also includes new construction homes, if you close on and occupy the home prior to December 1, 2009. Sarah Ley is a professional Realtor, and she can help you to know if you qualify for this incredible $8,000 tax credit. Sarah Ley will help you locate your new home in Tucson, negotiate on your behalf, and assist you in find financing alternatives. What a great time to own your own home! What are you waiting for?