When buying a house, one of the first things buyers should get from the seller is a property disclosure. This is also referred to as a property disclosure statement, a real estate disclosure form, or a home disclosure. The specifics vary by state, but most states, including ours, require some type of seller disclosure. The goal is to add transparency to the transaction and disclose any material facts that may impact a buyer's decision to purchase a home.

In this disclosure, a seller provides written information about known things that could impact the property's value. While there are many different things a seller must disclose, we're going to highlight three of the most forgotten (and impactful) items:

1. HOA information. If the home is located within a homeowners association, this fact must be disclosed. Associations generally impose monthly fees and assessments to homeowners, and they can impose rules on their membership that a prospective buyer might or might not find acceptable. A buyer also needs to know about the HOA's financial health and this needs to be provided to the buyer so they can make an informed purchasing decision.

2. Repairs. If your home requires any repairs that you are aware of, you have to disclose them to a potential buyer. In addition to repairs that need to be made, you must also disclose repairs that have been completed. Buyers need to know the home's repair history.

3. Federal seller’s disclosure requirement. If your home was built before 1978, federal law requires that you disclose that the property may expose occupants to lead from lead-based paint. It was federally banned for consumer use during that year.

The key thing to remember about disclosures is that when in doubt, disclose. Failing to disclose something you were aware of beforehand could lead to a messy legal situation.

If you have further questions about what you need to disclose when selling your home or anything else related to real estate, don’t hesitate to reach out to us at 602-352-3600, randy@10xHomes.com or ben@10xHomes.com. We look forward to hearing from you.

What's your Arizona home worth?

Selling your home can be a significant undertaking, but with careful preparation, you can enhance its appeal and increase the likelihood of a successful sale. Whether you're a first-time seller or have experience in the real estate market, taking specific steps to prepare your home is crucial. Today, we'll explore three key points to help you get your home ready for the market.

1. Enhance curb appeal. When potential buyers arrive at your property, the first thing they notice is the exterior. A well-maintained and visually appealing exterior creates a positive first impression, setting the stage for a successful home tour. To enhance your home's curb appeal: Invest time in landscaping to create an inviting atmosphere. Trim overgrown bushes, mow the lawn, rake desert landscaping, and plant colorful flowers to add vibrancy. A well-manicured yard not only improves the overall aesthetic but also signals to buyers that the property has been well cared for. Inspect your home's exterior for any needed repairs. Address issues such as peeling paint, cracked stucco, or damaged roofing. A well-maintained exterior gives the impression that the entire property is in good condition, reassuring buyers about the quality of their potential investment. Upgrade your front door and entryway to make a lasting impression. Consider a fresh coat of paint, a stylish welcome mat, and well-placed potted plants. A visually appealing entry creates a positive atmosphere from the moment buyers step through the door.

2. Declutter and depersonalize. Buyers want to envision themselves living in your home, and that's easier to do when they can see the space without distraction. Follow these steps to declutter and depersonalize your home: Start by decluttering each room. Remove unnecessary items and furniture to create a sense of spaciousness. Consider renting a storage unit for excess belongings or items that may distract potential buyers. Pack away personal items such as family photos and unique decor that may distract people from looking at the individual rooms. Depersonalizing your space allows buyers to visualize their own belongings in the home, making it easier for them to imagine living there. Give your home a thorough cleaning. Pay attention to details like dusty corners, smudged windows, and scuffed baseboards. A clean and well-maintained home suggests to buyers that the property has been cared for and is move-in ready.

3. Highlight key features. Consider professional staging to showcase the potential of each room. Stagers can arrange furniture and decor in a way that maximizes space and highlights key features, helping buyers see the full potential of your home. Make minor upgrades to key areas like the kitchen and bathrooms. Updated fixtures, a fresh coat of paint, or modern hardware can make a significant difference. These small investments can contribute to a higher perceived value of your home. Ensure your home is well-lit during showings. Natural light is particularly appealing, so open curtains and blinds to let it in. Consider adding ambient lighting in darker areas to create a warm and inviting atmosphere.

By taking these three key steps, you'll not only enhance your home's appeal but also increase its market value. You can contact me directly at randy@10xHomes.com or Ben at ben@10xHomes.com with any questions. We look forward to hearing from you!

What's your Arizona home worth?

What You Need To Know About Saving for a Home in 2024

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. One way to ease those concerns is to make sure you understand some of the costs you may encounter up front. And to do that, always turn to trusted real estate professionals. They can help you set a plan and take a strategic look at your budget and your process before you even get started.

Here are just a few things experts say you should be thinking about.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required. An article from the Mortgage Reports explains why that’s not always the case:

“The idea that you have to put 20% down on a house is a myth. . . . The right amount depends on your current savings and your home buying goals.”

To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires. The more you know ahead of time, the easier the process will be.

2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction. Bankrate explains:

“Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage so it’s important to be financially prepared for this expense.”

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house. According to Realtor.com, it’s usually between 1% and 2% of the total home price.

This deposit works like a credit. It’s not an added expense – it’s paying a portion of your costs upfront. You’re using some of the money you’ve already saved for your purchase to show the seller you’re committed and serious about buying their house. Realtor.com describes how it works as part of your sale:

“It tells the real estate seller you’re in earnest as a buyer . . . Assuming that all goes well and the buyer’s good-faith offer is accepted by the seller, the earnest money funds go toward the down payment and closing costs. In effect, earnest money is just paying more of the down payment and closing costs upfront.”

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your local area. They’ll advise you on what moves you should make so you can make the best possible decisions throughout the buying process.

Bottom Line

When buying a home, being informed about what to save for is key. Let’s connect so you’ll have an expert on your side to answer any questions you have along the way.

From our team to your family, we want to wish you a happy holiday season.

Happy holidays to you!

The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories.

We want to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business.

This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or email, we’d love to help you.

In case we don’t hear from you until 2024, have a happy New Year!

We are honored and very thankful for your continued referrals.

When we're not helping our amazing clients with their real estate goals, we’re on the American Dream, an Emmy-nominated TV Show, where we thrive on bringing you insightful discussions about lifestyle, culture, and of course, real estate. Today, we want to take a moment to express our sincere gratitude for the privilege of serving your real estate needs.

Our passion lies in helping individuals find their dream homes and ensuring a seamless selling process. We recognize that our success is fueled by the support and referrals from amazing clients like you. Your trust in our services has been the cornerstone of our business, and for that, we are truly thankful.

"Thank you for your unwavering support."

As we continue on this exciting journey, we extend a special request to you. If you have friends, family members, or colleagues who are considering buying or selling a home, we would be honored to provide them with the same exceptional service you've experienced with us. Referrals are the greatest compliment we can receive, and they play a crucial role in our continued success.

Think of us when someone in your network needs real estate advice. We promise to bring the same passion and expertise to them as we do to our viewers on the American Dream Show. Your referrals are as essential to us as viewership is to a TV show.

Casting Call in Phoenix

Are you planning to sell your home in early 2024? This is your chance to shine on national television! The American Dream TV show's executive producer is on the hunt for unique homes and captivating personalities to feature in our upcoming winter/spring season.

We're not just looking for houses — we're also going to showcase interesting businesses and charities. If you, or someone you know, have a property that stands out or runs a business or charity that deserves the spotlight, we want to hear from you.

Don't miss this opportunity to be part of the American Dream, an Emmy-nominated show. Reach out to us for more information on how to get featured on our show!"

If you have any questions about the market or real estate in general, you can reach out to us by replying to this video, giving us a call, sending a text, or shooting us an email. You can also click this link to submit a contact request. Every referral means the world to us, and we assure you that we will take exceptional care of them. We eagerly anticipate the opportunity to assist you and your referrals in finding their perfect homes.

This year and every year, we’re thankful for you in our lives.

As Thanksgiving approaches, we find ourselves reflecting on the countless blessings this year has brought us. It's a time to express gratitude, and today, we're eager to share ours with you, our valued clients, friends, and family.

A Token of Our Gratitude: First and foremost, we are deeply thankful for the health and well-being that we've enjoyed this year. It's a gift that we never take for granted, especially considering the challenges we've all faced recently. Your continuous support, trust, and referrals have been the cornerstone of our success, and for this, we are immensely grateful.

Celebrating New Milestones: An exciting development this year has been our involvement with the "American Dream TV" show. For those who may not know, this national, Emmy-nominated show has been a fantastic platform for us. It has not only heightened our exposure on a national level but has also been instrumental in directly benefiting our clients. Plus, we can't deny—it's been a lot of fun!

A Special Thanksgiving Message from Ben: He extends his Thanksgiving wishes to you all:

"We have so much to be thankful for this year!" Ben says. He's grateful for the wonderful year we've had and is excited about what the future holds. He also mentions a recent positive turn in the market - the lower interest rates, which have been a welcome change."

Our Commitment to You: Your trust in us, in guiding you and your loved ones in your real estate endeavors, means the world to us. We wouldn't be where we are today without your unwavering support. So, once again, thank you! And don't forget, amidst the Thanksgiving festivities, to enjoy the feast (but maybe not too much!).

Stay Connected: If you have any questions about the real estate market or need general advice, don't hesitate to reach out. You can contact us via phone, email, or by clicking this link to submit a contact request. We're always here to assist you and look forward to hearing from you soon.

Conclusion: Wishing you a wonderful Thanksgiving filled with joy and gratitude. Here's to a fantastic end to 2023 and an even more prosperous 2024!

Sharing three projects you shouldn’t take on when preparing to sell.

When preparing to sell your house, you need to make sure it’s appealing to potential buyers. Many homeowners rush to fix every little flaw, thinking it will boost their property's value, but not every improvement will yield a significant return on investment. To help you avoid the ones that aren’t worthwhile, here are the top three things you should avoid fixing when getting your house ready to sell:

1. Minor HVAC, electrical, and plumbing issues. While well-maintained and fully functional systems are crucial for any home, addressing minor issues in these areas may not be the best use of your resources. Major problems that could significantly impact the home's livability and safety should be fixed, but minor issues are usually better left for the buyer to handle.

"When selling a house, it's crucial to prioritize your efforts and investments wisely."

2. Old appliances and windows. It's not uncommon for homeowners to believe that installing new appliances and windows will make their homes more appealing to buyers. However, this is not always the case. Homebuyers often have specific preferences, plus these pieces can be expensive. If your existing appliances and windows are still in decent condition, buyers may not see the value in replacing them with newer models, especially if they are already energy-efficient.

3. Partial room upgrades. Giving a room a partial upgrade can lead to an inconsistent look and feel throughout the house. Plus, it might make buyers question the overall quality of the home and create doubts about the other areas that weren’t improved. For example, replacing the kitchen countertops but not the cabinets can create an imbalanced appearance. Similarly, changing the faucet in a bathroom but not the worn-out tiles can make the space look disjointed. Those small changes will just be a waste of time and money.

When selling a house, it's crucial to prioritize your efforts and investments wisely. While preparing a home for sale is essential, fixing certain issues might not offer a significant return on investment or could be better handled by the buyer. If in doubt, feel free to reach out to us by phone call or email. We can offer valuable insights and would be honored to help you!

What's your Arizona home worth?

Here are three essential tips homeowners need to know before selling.

Are you looking to sell your home in the near future? If you are, you need a plan to get the most money possible for your home while ensuring a smooth sale. As real estate agents, we help people buy and sell houses every single day, so we know what it takes to get top dollar for your property. Here are three things you absolutely need to know before you list your home:

1. Find the perfect price. Pricing can make or break a deal. It's like finding the perfect balance between attracting potential buyers and maximizing your profits. To find the best price for your home, lean on your agent to find comparable homes that have sold recently, analyze the market, and factor in market trends. Remember, setting an inflated price can turn buyers away, while pricing too low might make you lose out on some well-deserved cash. It's all about finding that sweet spot.

2. Master your curb appeal. First impressions matter, and when it comes to selling your house, curb appeal can make a world of difference. Think about it—when you're driving through a neighborhood, don't you gravitate towards homes that catch your eye? You want potential buyers to fall in love with your property from the moment they lay eyes on it. So, invest some time and effort in sprucing up the exterior. A fresh coat of paint, a well-maintained lawn, and some tasteful landscaping can work wonders. Remember, you want your house to stand out for all the right reasons and create a lasting impression.

"First impressions matter in real estate."

3. Be upfront about potential issues. Honesty is key when selling a house. You must disclose any known issues or defects to potential buyers. It’s tempting to hide certain things to make your house seem more appealing, but this can lead to serious legal troubles down the road. Be transparent about any past or current problems your property may have. It's better to address them upfront rather than dealing with unhappy buyers later on. Remember, a solid foundation of trust and transparency will help you close the deal smoothly and with a clear conscience.

Overall, the best course of action is to work with an experienced agent who knows these strategies and more. If you’d like more tips on how to ensure a smooth home sale, just call or email. Make it a great day!

What's your Arizona home worth?

Here are three ways you can use staging to unlock your home’s potential.

When it comes to selling your home, first impressions matter. Properly staging your home can significantly impact its perceived value and attract potential buyers. By strategically arranging and presenting your space, you can create an inviting atmosphere that resonates with prospective buyers and boosts your home's selling price. To help with this, we're sharing three key tips for staging your home to maximize its appeal and increase its market value:

1. Declutter and depersonalize. Remove any excessive personal items, family photographs, and collectibles. Streamline the décor to create a neutral canvas that allows potential buyers to envision themselves living in the space. Minimizing clutter not only helps showcase the home's features but also creates a sense of spaciousness and cleanliness. Consider donating or storing unnecessary items to open up the rooms and make them feel more inviting.

2. Highlight key features. Identify the unique selling points of your property and ensure they are showcased effectively. Whether it's a beautiful fireplace, a spacious kitchen, or a stunning view, draw attention to these standout elements. Arrange furniture and accessories to enhance these features and create focal points within each room. Proper lighting can also play a significant role in highlighting architectural details and creating a warm ambiance. Use a combination of natural and artificial lighting to maximize the appeal of your home's key areas.

"Properly staging your home can significantly impact its perceived value."

3. Create a warm and inviting atmosphere. Potential buyers should feel welcomed and instantly at ease when they step into your home. Pay attention to the overall ambiance and create a warm and inviting atmosphere. Consider adding fresh flowers or indoor plants to bring life and vibrancy to the space. Utilize soft, neutral-colored furnishings and décor to create a sense of comfort. Avoid scented candles and plug-ins. Thoughtful touches such as fresh linens, or a cozy reading nook can evoke positive emotions and leave a lasting impression on buyers.

Staging your home effectively is a proven strategy to increase its selling price and attract potential buyers. Plus, it accelerates the selling process. Invest time and effort in staging and you'll be well on your way to a successful sale.

If you have any questions about how to stage your home to boost its price or real estate in general, please don’t hesitate to reach out to us by phone or email. We are happy to serve as your resource for all of your real estate needs.