Uncategorized October 20, 2022

Fall Landscape & Garden Tips for Arizona

Fall is here! Temperatures are lower, and right now is the best season to plant! The combination of cooler days and nights allows the soil to sit at the ideal temperature to promote root growth for all your trees and plants.  

This is why fall is the best time to plant new trees and plants. The roots of your new plants are able to grow and established best during this time of year. Autumn brings many benefits for your landscape as well as opportunities to seed for winter grass and protect against pests.

Here are some tips for your fall yard from Moon Valley Nurseries:

Update Your Watering Schedule for Fall Temperatures

With the cooler evening and nighttime temperatures, now is the best time to check your watering system. The ground will not be drying as quickly as it was during the summer heat, which means your trees and plants will not need as frequent watering. How much should you be watering your plants during the fall then? 

How often you should water your trees and plants during the autumn months will depend on the types of trees and plants that are in your landscape. For many varieties, watering every other or every second day is enough, but the amount of water you use to hydrate your yard will always depend on the specific plant material in your landscape. For watering guides on your specific trees and plants, you can check out Moon Valley Nurseries Care Guide.

Fall is the Best Time of Year to Plant in Arizona

In Arizona, there are many benefits of planting during the fall season that make it the best time to plant. Planting now gives your new trees, plants, or palms the best conditions to establish strong, healthy root systems before the spring and summer growing seasons. Planting citrus and fruit trees during the fall will provide you with the best opportunity for fruit this coming spring.  

Fertilizing for Healthy Growth

Fall is also the best time to fertilize everything in your yard after the summer months. All your trees, palms, shrubs, and other plants will take full advantage of the nutrients and fertilizers you use during the autumn season.  

Tree Care, Pruning, and Trimming

After the summer, some of your trees and plants may be showing signs of stress. Now is the best time to trim off any dead or burnt branches from your landscape. It is important not to trim more than 1/3 of the tree or plant at any one time.

Fall is the perfect time to take care of your landscape and get everything looking healthy and growing strong. Proper fertilization, trimming, and the right watering will go a long way to adding more shade, privacy, year-round interest, and curb appeal to your landscape, as well as making it the perfect place to escape from the day-to-day.

 

 

Market Update September 23, 2022

AZ Market Update 9/2022

Market Update in Arizona                                               September 2022

Our Arizona market overall is now “balanced”, with supply and demand meeting in the middle. This is quite a departure from the frenzy we have been used to for the past two and a half years. While some think that the market is going to “crash” and that prices will drop drastically, the data shows differently. It is helpful to compare this market to that of 2019: it is on track for where we should be and we should not use 2020 and 2021 as our standard of measurement.

Let’s use the analogy of driving at a high speed to help illustrate what our housing market has been doing. After speeding in the fast lane, pedal to the metal (the last 2.5 years), we have taken the foot off the accelerator (starting June of 2022) and deceleration is happening. This is not breaking (no crash), just a gradual slow down. Home VALUES are holding strong and overall home appreciation is still predicted to be a positive 10% by the end of 2022 nationally. Further, Arizona is in a uniquely positive situation with many still flocking to move here due to commercial and industrial growth from multi billion dollar investments by TSMC (Taiwan Semiconductor), Intel, Lucid, and many other companies both large and small. Our economy is robust and diversified, not over dependent nor over saturated with residential real estate as was the case in 2008, and builders/developers are still moving forward with large scale projects. All of these indicators provide reassurance that it is still a good time to buy and sell. In short, the law of supply and demand combined with growth and other positive indicators in our state point to a solid and safe real estate investment environment.

At Century 21 Toma Partners, we continue to excel in every market. Take a look at our numbers as they reflect the hard work our team puts into every relationship. We know the market and are making needed adjustments as we continue to serve with Value, Integrity and Service! And our results speak for themselves. Thank you for trusting us as one of your Real Estate referral partners. Here is how the Phoenix metro area is trending and how Century 21 Toma Partners compares overall:

 

 

 

Relentless Moves

Uncategorized August 30, 2022

What You Need To Know About Solar

If you’ve been looking for a new home lately, you’ve probably noticed solar panels on many rooftops. Those big, black rectangles harness the sun’s energy to benefit the homeowner. Rooftop solar systems provide homeowners with benefits, including lower energy bills, greater energy self-reliance, potentially higher resale values, and more curb appeal. In recent years, the residential solar market has grown significantly, with over 500,000 projects installed in 2021 alone. If you’re considering buying a home with solar panels, a little due diligence can help you avoid unpleasant surprises. Here are some questions to ask before you buy a home with a solar lease:

What kind of solar panels are on the roof?

A home with solar panels on the roof uses the sun’s energy to capture thermal (heat) or photovoltaic (electric) power. Solar thermal systems are, in general, more efficient. Solar photovoltaic (PV) systems are more common and available at lower up-front costs.

When most Americans think about solar homes, they probably think about photovoltaic power. These systems convert sunlight into electrical energy. The most recognizable parts of the PV system are the solar panels. Most home systems also include mounting structures that stabilize the panels in bad weather and inverters. Inverters convert the direct current (DC) electricity captured by the panels into alternating current (AC) electricity. The AC electricity is then used to power most of the appliances in your home. It can even be sold back to your utility (if you don’t use all the energy your home produces).

You can identify a solar home with a PV system by the wires or cords running out of the panels and an “extra” power box on the side of the house, which measures the energy produced by the system.

How were the solar panels obtained?

Solar photovoltaic (PV) systems usually pay for themselves over the long term. Both can also have pretty high up-front costs. The price for a PV system varies by how much energy you want to produce, but the average five-kilowatt (5 kW) residential system costs around $20,000. A wide array of federal, state, and local incentives can significantly reduce the cost of both systems.

If the seller paid for the system up-front, you don’t need to worry about hidden costs.

If the seller financed the system, the seller is responsible for paying off the solar loan. They may want to add any remaining balance to the home’s sale price. If the seller purchased the system with a secured loan (like a home equity line of credit), they might not be able to close the sale until they pay that debt in full.

If the seller obtained the solar panels under a long-term solar lease or power purchase agreement (PPA), the buyer has to do a little more work.

Is the solar system subject to a solar panel lease or power purchase agreement (PPA)?

If the home seller has a solar lease, they do not own the solar system installed on the home. As with an auto lease, the current homeowners make monthly payments to the system owner.

A power purchase agreement allows a company to install a solar system on the homeowner’s property. The homeowner agrees to purchase the energy produced by the system at a rate that’s usually lower than the utility’s retail rate.

Both arrangements are common since they allow homeowners to take advantage of the benefits of solar power without needing the substantial upfront cash required to purchase a system outright.

The homeowner may want to buy out the remainder of the lease or power purchase agreement. Buying out the deal would allow them to sell the system as part of the home and command a higher selling price. They may instead make a lease transfer a condition of the sale.

Before you buy a home with leased solar panels, ask the homeowner these questions:

  • Who manufactured the solar panels?
  • What warranties are available?
  • How long do warranties cover the parts and equipment?
  • Who installed the system?
  • Does the installer provide quality warranties?
  • What is the size of the solar energy system, and how much electricity can it offset?
  • How much have past energy bills cost?

How do you transfer a solar lease or power purchase agreement?

If you want to transfer a solar lease or power purchase agreement, the seller or the seller’s real estate agent should be able to put you in contact with the solar company’s service transfer specialist. After your mortgage is approved, the solar lease transfer representative will send the buyer and the seller a form to fill out and sign. Once the new solar lease is approved, you’ll start making the lease payments (usually separately and outside of escrow or payments to your lender).

Do solar panels increase home value?

Buying solar panels generally helps increase the value of a home because they enable you save on energy bills and provide a feature for the next homebuyer who may also want to have an option to generate their own power. The Berkeley Lab suggests that solar panels can increase the sale value of a home by an average of $15,000.

Market Update July 15, 2022

It’s Actually a Really Good Time to BUY or SELL a Home!

There is no doubt that there have been massive changes in the housing market recently.  Throughout 2020-2021 home values increased about 29% (normal yearly increase in home value is 3-4%).  It was not uncommon for homes to receive multiple offers over asking price with appraisals and inspections waived.   This was driven by the COVID pandemic and people reevaluating their living situations.  Many people were able to work from home and left the city for the suburbs,  or found they wanted more space for that home office or play room.  It was a white hot market. Now, things are beginning to cool off, and the chatter is that there will be a housing collapse.  This is inaccurate.  It’s actually a great time to buy or sell a home! Here’s why:

The Housing Market is Driven by Supply & Demand

There is one thing that drives the housing market: supply and demand.  To put it simply, home prices go up when there is a low supply of homes and high demand, and home prices go down when there is an increase in supply of homes and a decrease in demand.

Housing Supply:

  • Overall, there are less homes available for resale than there was in 2007
  • New home builds are still lower than 2007
  • Foreclosures were placed on hold for 2+ years due to COVID

Demand:

  • 5 million more millennials then previous generation are now in their 30’s, which is a prime age for home buying.
  • Households in the US have increased by 12 million since 2007
  • Investors are buying 25% of homes on the market

So, while we are seeing the housing market change, we are not seeing a drastic change in supply and demand. If anything, we are becoming a more stable market.  Economists are predicating that in 2023, home values will increase 3-5%. Home values will not decline. This is why it is a great time to buy! You can gain equity in your home, and not have to deal with so much competition.  We are seeing appraisals, inspections, and seller concessions coming back!

It also continues to be a great time to sell! As written above, there is still high demand for housing, and limited supply. Home values are not decreasing.  What we are seeing with listings is the prices matching the value of the home. Over the past 2 years, people were paying more than what the home was valued at.  So it may look like prices are dropping, but really, home prices are reflecting the actual value – and again, that has not decreased!

In this market, pricing your home accurately is the key to selling quickly and for the most money.  Contact me today to see what your home value is, or if you are interested in seeing what is available on the market.

 

Megan Staub

Century 21 Toma Partners

megan@tomapartners.com

Selling July 12, 2022

Why It Is Critical to Price Your House Right

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today.

But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why:

Pricing Your House Right Is Crucial Even in a Sellers’ Market

The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, you could leave money on the table, which decreases your future buying power if you undervalue your house.

On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home.

In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see a bidding war, too. And when a bidding war happens, you’ll likely get an even higher final sale price. Plus, when homes are priced right, they tend to sell quickly.

Lean on a Professional’s Expertise To Price Your House Right

There are several factors that go into pricing your house and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about:

  • The value of homes in your neighborhood
  • The current demand for houses in today’s market
  • The condition of your house and how it affects the value

A real estate professional will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end.

Bottom Line

Even in a sellers’ market, pricing your house right is critical. Don’t rely on guesswork. Work with a trusted real estate advisor, to make sure your house is perfectly priced.

Are you curious to see what your home is worth? Contact me today and I can develop a complimentary comparative market analysis for you!

Megan Staub

Century 21 Toma Partners

623-640-5332

megan@tomapartners.com