The Scottsdale Real Estate Files

Just Listed For Sale in McCormick Ranch ... The Exception

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Mon, 21 Mar 2011 18:48:02 -0400

Peanut butter and jelly. Cookies and cream. Cheech and Chong.

Such combinations prove the adage that the whole may indeed be greater than the sum of its parts on occasion.

In the Scottsdale Real Estate world, that truth is readily apparent in some of the older master planned communities. Take McCormick Ranch, for instance. When considered in conjunction with the lakes, greenbelts, parks, shopping, award-winning schools and central location, some of the older properties that fall within its boundaries are far more desirable than they would be elsewhere in the Valley.

Because, let's face it, 1970s architecture is sometimes better left in the 1970s.

So if the dated homes that fall within desirable communities are given a boost for their address, what do you get when you add the variable of rennovation to the equation? And an exceptional lot? And a unique floor plan that you would be hard-pressed to find anywhere else in the community?

You get our one-of-a-kind new McCormick Ranch listing, that's what.

You've been told that you'll have to make compromises to get the home you want in the neighborhood you want for the price you want. Well, you know what?

Compromise is overrated.

Boasting over 2800 square feet of remodeled decadence, this four bedroom gem greets you at the front door with soaring valuted ceilings and a two-way fireplace. The wide open kitchen looks out to the living, dining and family rooms. No dated laminate counter tops or 1970s avocado appliances here, but slab granite and stainless steel.

The master suite is a monster by McCormick Ranch standards, and features a fully remodeled bath with travertine stone, granite top vanities and vessel sinks for a sumptuous retreat.

Hardly a one trick pony that hides its newer interior inside a dated shell, the home's exterior features smooth stucco and a newer roof (2006) in addition to newer A/C.

This home in this location would be special enough, but it has the good sense to reside on a 1/3 acre (nearly 15,000 square feet) North / South cul-de-sac lot. Like a big back yard for entertaining or just to get away from the world? You'll have all the room you need between the large covered patio, pool & spa area and two separate lawn areas that are each as large as the typical back yard by themselves.

Oh, and one last thing. This anomaly has a 3 car garage.

Yes, you heard me correctly: a 3 car garage in McCormick Ranch.

While many properties in this sought after community will have an achilles heel, as is to be expected of 30 year old homes, you'll be hard pressed to find one here.

But don't take my word for it. I'm a salesman. Give me a call or drop me an email to learn more about this special McCormick Ranch home, or to schedule a viewng today. Coffee's on me if you think I've puffed the goods.

8401 N 86th Way, Scottsdale, AZ 85258

MLS# 4552458

Property Features

4 Bedrooms
2867 Sq Ft (Approximate)
3 Car Garage
Living Room / Family Room / Dining Room
Pool & Spa
Cul-De-Sac Lot
1/3 Acre
Vaulted Ceilings
Newer Roof & A/C
Granite and Travertine and Porcelain ... Oh my!
Chaparral High School District
Lake Communitiy
Golf Community
Multi-Use Paths
Greenbelt

Offered for sale at $495,900

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And Out Come the Wolves

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Tue, 02 Mar 2010 10:24:32 -0500

What is it about the rain that brings the mischievous out to play?

Real Estate sales is the type of racket that leads one to bump bellies with all manner of folk. Over my years in the industry to date, you might say I’ve been sheltered. For all of the horror stories that float about a brokerage regarding the customer from hell, or the underhanded agent that shafts a fellow colleague out of a deserved paycheck, the instances in which I have encountered such REALTOR kryptonite have been few and far enough between to defy instant recollection. Challenges and difficulties, to be sure, but no readily recounted tale of woe regarding a true American consumer psycho. Either the good people of Scottsdale, AZ are simply of good stock, or my conscious decision not to hand out business cards at the dog track every Saturday afternoon as a central component of new client acquisition was prescient.

When the downturn in the market that first became evident in 2007 gave way to a full-fledged nosedive, however, a bunch of loose cargo in the back of our plane and overhead storage bins unloosed itself. Ending up in the aisles and on the laps of well-behaved passengers, we find ourselves wading through the cretinous stowaways in attempt to pull the decent home buyers and sellers from the acrid wreckage. Wouldn’t you know those oily ne’er do wells always seem to reach the emergency exits first; whooping it up as they slide to safety wearing a stolen oxygen mask. Don’t worry about granny in seat 46C. She can hold her breath for up to 18 seconds at a stretch.

To answer a few of the more “creative” questions I have fielded recently, I figured I’d simply draft a response to which all such future inquiries may be pointed.

No, I will not help you tie up a property with a straw buyer until such time that you can amass your down payment and/or financing. It’s a fraudulent offer, and one made in bad faith.

No, I will not write offers on 15 short sale properties at once for the same buyer. Short sales are frustrating, but it’s not just a numbers game. I will not grease the wheels to a seller's foreclosure by tying their property up with an offer you have no real intention of seeing to fruition.

No, I will not give you a guestimate on how long you can live in your house rent-free before your mortgagor initiates foreclosure proceedings. There are more than enough homeowners in need of loan modification or short sale assistance. I cannot in good conscience help you game the system and further bog the process down for those in true need of help.

No, I will not help you buy a property as a primary residence if I know that you have no intention of ever occupying it. There will be many dubious, and potentially fraudulent purchases made in the rush for the tax credit, but I won’t be a part of any of them.

No, I won’t secure a tenant for the property upon which you have stopped paying your mortgage. That “free money” that goes in your pocket until the bank forecloses and boots the unsuspecting tenant out carries a steep price.

No, I will not be party to any side agreement pay-out in a Real Estate transaction that does not appear on the settlement statement.

Rationalize such schemes all you like, but a treacherous climate does not excuse treachery. Not only does potential harm fall on specific parties, but on the greater good as well. Don't look to me to make my own biological contribution to the cesspool we’ve been forced to bathe in for many moons now. Moral and ethical constraints aside, for no deal is it worth ruining a hard-earned reputation and future livelihood. This is how I feed my family.

Your shenanigans are not worth my license.

Now, if you would kindly hurry up and slide into the waiting arms of the authorities below, there are good people on this plane who need my help.

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If Dr Seuss Worked for the NAR ...

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sat, 05 Jun 2010 18:25:44 -0400

On the Island of Oncewas, there lived but one scamp.

One strangely stoic, scoundrelous scamp.

There used to be more, there used to be four.

There used to be four and eight thousand four more on this shore.

So many scamps scamping are hard to ignore.

But there was no need for eight thousand and eight.

Scamps all sold houses, and Oncewas lacked real estate.

So ten left, then twenty. Then a hundred and two.

Then three thousand and sixty, and their brothers, too.

Until all had gone except Scampy Magoo,

Who continued his scamping, though there was no scamping to do.

Letters rolled in each day with the tide,

Tales from ex-scamps in their travels far and wide.

One read, “Not enough kitchens, and too many cooks!”

Another, “Too many librarians to put away two books!”

“I used to scamp houses, now I can’t scamp my blood!”

“Why, they wouldn’t hire dirt and water to make mud!”

And what did he do, old Scampy Magoo?

He sent back his very own note or two.

“Act now, you scamps, the time has never been better!”

“The sun is brighter and the sea is wetter!”

“The ship is afloat, so come on back all you mice!”

And, “Buy your old plot for 2/5ths the price!”

He planted his sign and bided his time.

The scamps first returned in drabs and in drips.

One, two, then an armada of ships.

“Sign on the line,” said Scampy Magoo,

“No need to read it all the way through.”

“Just legal jargon that’s neither here nor there.”

“It’s the deal of a lifetime, I certainly swear.”

They took turns handing over their very last dimes,

Until at last Scampy reached the end of the line.

He tipped his hat, bowed deeply and thanked one and all,

And took his leave as there were more ports to call.

With a spring in his step and a twinkle in his eye,

His shrill voice once carried over the blood red sky.

“Oncewas is all over, I’m sorry to say,

But follow me to Willbe where a scamp can scamp and play.

The prices are low and the mangoes are sweet,

There’s a loan for every pulse ...

And an ass for every seat.”

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McCormick Ranch Foreclosure Homes Hotsheet

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sun, 12 Sep 2010 11:50:22 -0400

In the market for a McCormick Ranch home? Intrigued by the bargains everyone keeps telling you about in the foreclosure / bank owned property arena?

Follow me to the Scottsdale Property Shop for the daily McCormick Ranch Foreclosure Home Hotsheet!

Contrary to other segments of the current Scottsdale Real Estate market, the low-priced foreclosure arena is teeming with demand, and the best values come and go in the blink of an eye. Stay on top of new McCormick Ranch foreclosure listings as soon as they hit the market so you don't miss another one!

Follow the link below and bookmark the page to come back as frequently as you like to see the most recent arrivals. No site registration is required, so you can peruse each new batch in peace. Should you locate a property that you wish to pursue, or learn more information about, you are in luck. Ray & Paul Slaybaugh, the agents behind both McCormick Ranch Home and The Scottsdale Property Shop, have nearly 50 combined years of experience specializing in the McCormick Ranch Real Estate market.

Whether it's a foreclosure property or a typical mom & pop resale home you are after, no one know McCormick Ranch Real Estate like Ray & Paul. No one.

Browse the McCormick Ranch Foreclosure Home Hotsheet Now!

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Introducing The Scottsdale Foreclosure Hotsheet: Daily Listing Updates!

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sat, 11 Sep 2010 20:28:00 -0400

Unless you are the Scottsdale home buyer who is like the one dentist out of ten who does not prefer an Oral B toothbrush, odds are you have at least a passing interest in the Scottsdale foreclosure home market.

While your best bet to stay on top of inventory is to work with a top notch Scottsdale Real Estate agent <cough, cough>, I know that you like to moonlight as an Internet home shopper at all hours of the night. Who doesn't like logging on and cruising the big search sites instead of waiting around impatiently for news from said agent about the latest listings?

Recognizing that even those wise souls who have enlisted the services of a Realtor <cough, cough> to serve as a home buying sherpa enjoy running parallel investigations, I have created the Scottsdale Foreclosure Hotsheet.

Updated daily, you can check back as often as you like (no sign up required) to see the latest Scottsdale foreclosure home listings to hit the market.

Want to take charge of your home search? Follow me back to the Scottsdale Property Shop via the link below to find out about the latest bargains before someone else snatches them up!

Scottsdale Foreclosure Hotsheet

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Is That Home Really For Sale?

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Tue, 07 Sep 2010 12:22:21 -0400

Is that home really for sale?

It sure looks like it is. There’s a sign in the yard, property information on the internet, an asking price and everything. The comings and goings of Real Estatey type people with wide eyed gawkers in tow confirms that the quaint Spanish hacienda is looking for a new owner.

Or is it?

There is a disturbing new trend in the Scottsdale Real Estate scene: the fictitious short sale listing.

By now, anyone who is not somewhat up to speed on the short sale market should be stoned to death with the rock under which he has been sleeping. Get used to them, people, as they are not going anywhere anytime soon. Though we all know the uncertainties and complexities involved in such a transaction mean that the listed price is not necessarily the real price, we generally take for granted that a seller is actually interested in selling.

Given the rise in anecdotal reports of would be sellers who haven’t made payments in two years while attempting to consummate short sales, you can imagine what the more entrepreneurial freeloaders in our midst have concluded: going through the motions of a short sale for the sake of appearances can keep the bank off one’s back while he lives rent free for as long as the ruse will allow.

Financial institutions are not so naive to believe such subterfuge never happens, so it typically takes a viable offer on a property to postpone a trustee’s sale (Arizona’s version of a foreclosure). That’s where you, the buyer, come in. For the “seller” interested in staying in the payment-free property for as long as possible, the facade entails the procurement of an offer for submission to the bank. Whether the seller intends to actually complete the sale or not.

In essence, the prospective buyer could get strung along for months by a seller who is just buying time. Or stealing time, I should say.

Perhaps his credit is already damaged beyond repair. Perhaps he doesn’t want to bring any of the money to the table that the bank demands. Perhaps he does not qualify for the short sale at all (yes, a seller does have to meet certain qualifications to gain bank approval). Perhaps the seller is simply bitter beyond reason and unwilling to let some buyer have his home for pennies on the dollar. Whatever the reason, there are properties on the market that aren’t really available.

How do you identify those shiftless wasters of time before embroiling yourself in a slow, emotional death? There are a few tactics that a competent buyer’s agent will employ when separating fact from fiction on a short sale offering, but none is foolproof. Short of peering into homeowner’s soul, all one can do is take basic precautions to assess the viability of a sale. Unfortunately, the determination of what the owner can do is not necessarily indicative of what he will do.

The guy could be dealing with you in good faith, or he could simply be using your offer to delay his inevitable foreclosure.

My advice? If you are going to go the short sale route, start with properties that have been through the process to the point that they have a bank approved price attached. One way of the other, the process will resolve itself with considerably more haste once the bank has assigned an acceptable price to the property. If the seller is still playing games at this point, he is running out of room to maneuver. Moreover, to reach this point, most are actually committed to the process.

If you fall in love with a home that has not yet been approved for a short sale by the bank, make sure the appropriate questions are asked and answered and that the listing agent has a competent record of successful short sale transactions. The good ones are adept at separating the viable candidates from the disingenuous types as they have a vested interest in getting the transaction to the closing table as well.

At the end of the day, though, you just never know what is in store from one short sale to the next. With all of the variables to contend with in the best of circumstances, adding the integrity and intention of the seller to the list of concerns is almost comical in a tragically masochistic sense. All the more reason I recommend avoiding the short sale quagmire unless all other avenues have been exhausted.

It’s a beautiful home alright, but is it really for sale?

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Sign Here

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Thu, 02 Sep 2010 12:13:44 -0400

“Sign here, please. And here. Initial here, please. Date. Super, I’ll email this to the listing agent, and we should get an answer within three to five business days.”

There is no arguing that the inexorable march of technology has merged with the increasingly corporate backdrop of the Real Estate world to metastasize into an impersonal cancer of convenience. With REO agents, short sale agents and, well, virtually any agent trudging through this muck who seeks to offset the commission implosion of falling prices with an increased quantity of transactions, it only follows that we limit personal interaction in the name of production. Listing agents instruct buyer agents to text for lockbox codes and review the document tab for offer instructions. You may email for confirmation of receipt, but please no calls. Shoot, you have a better chance of finding the Lost Dutchman’s Mine with a broken lamp and defective map than reaching a bank agent with 100 open files by phone. It’s all just a precursor to the ultimate end game of conducting a transaction entirely by telepathy.

In stark contrast to the Borg-like approach that the banks and their chosen representatives have brought to the industry, however, is the resale end of the spectrum. While the low priced, low conditioned bank homes are being churned out like not-so-Happy Meals, there remains a dearth of quality, owner-occupied, resale properties available. At least of the competitively priced variety, that is.

I am working with several buyers at present who are not interested in the distressed end of the market, and find themselves frustrated with the lack of reasonably priced resale homes. I have to admit, I am right there with them. Even after factoring in a price allowance for superior physical condition and the likely equity constraints of the sellers, it is downright shocking what someone can’t find for, say, 500k in the Central Phoenix corridor.

What’s a buyer’s agent to do?

Flogging the MLS 58 times a day for new inventory will only lead to frustration. And chafing. One has to buck inertia and go make things happen. And how, pray tell, does an intrepid REALTOR go about pulling a rabbit out of a rabbitless hat in this world of impersonal drones?

By picking up the phone and calling the heavy hitters in the area to see if they have anything coming up that might fit the bill. By, gulp, knocking on doors and sending out mailers to the desired neighborhood(s). By going and finding the damn house and coercing a sale, rather than idly waiting for it to show up during the course of one of those feckless 58 searches.

The MLS has become its own brand of social media. Resign yourself to its database as the only source of business procurement, and the constant surfing is more akin to updating your Twitter status than actual work. We complain about looky loo buyers when we are often online versions of the same animal.

If the property you seek is not in the database of currently available homes, go find it in the real world. It’s what we used to do. Or, should I say, it’s one of those salesy relics of the so-called “dinosaurs” of the industry that we high-paced, high-tech, trailblazing ingrates have eschewed in the name of progress.

We are Real Estate professionals, not market watchers, contract submission specialists or inventory managers. We are paid to sell houses. Those of us who have opted not to represent bank listings as REO agents or rushed to short sale “specialization” would do well to understand that we cannot afford to operate under the drive-through mentality that has infiltrated our industry. We must put down the modern tools from time to time and make things happen the old fashioned way.

The art of the deal is not dead. In fact, I’d argue that the lack of equitable resale homes on the market makes the interpersonal role of a buyer’s agent more important than ever. If you want dirt cheap, you can take a number and wait for the banker to see you. If you want a move-in ready home, however, you might have to turn over a few rocks just off the beaten path.

I, for one, have pledged to stop lamenting the lack of quality listings in this alleged buyer’s market, and go force some honest to goodness face time with the carbon-based lifeforms that can produce them.

Right after I run another search.

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Reintroducing the Scottsdale Foreclosure Value of the Day Series

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Tue, 31 Aug 2010 13:11:17 -0400

It has been quite some time since I revisited the Scottsdale Foreclosure Value of the Day series that I launched in 2009. More aptly titled the Scottsdale Foreclosure Value of the Fortnight, or Leap Year, I aim to chase away the dust bunnies and rededicate myself to the format. It may not be daily, and it may not be strictly Scottsdale (value propositions do not adhere to our strict time tables and locational demands), but it will be a viable resource for those Scottsdale area home buyers who are only interested in the deepest discounts that the bargain basement bin of the Arizona Regional Multiple Listing Service has to offer.

The series will be hosted at the Scottsdale Property Shop, so be sure to subscribe to post updates on that site to receive alerts to new and changed foreclosure listings that represent (on paper, at least), the most sublime values on the market.

We christen the relaunch with a terrific bank owned opportunity in Hayden Estates, one of the premier Victorian and Tudor style subdivisions in Scottsdale.

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Social Media and the Great Personal Uploading

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Mon, 16 Aug 2010 12:27:21 -0400

We REALTORS are a narcissistic bunch. A revelation, I know. From the bus stop advertising that depicts an attentive agent fielding calls on a pink cell phone to the glamor shot of an agent with his toy poodles on a "For Sale" sign in front of an overshadowed house, the marketing realm is littered with examples of self-promotional prowess. No one sells self like a house peddler.

Enter the explosion of blogging and social media.

What other profession would employ the usage of such tools to the extent that we do? What other professional would flog a keyboard on a semi-weekly basis secure in the knowledge that the consumptive public was hanging on every innermost, poorly conjugated thought?

Yes, the posting of fresh content keeps the attention of the search engines, and drives more eyes to our websites. Our respective blogrolls serve as a running commentary on how we approach business and market our properties: an ever-growing resume for prospective employers, if you will. We provide handy tips and the latest market news from our primary coverage areas. All sandwiched around odes to our pet bunny rabbits. And journals of our kids' kindergarten adventures. Speaking of sandwiches, don't forget our series devoted to the amateur critiquing of local eateries.

Where are the insurance agents? Where are the divorce attorneys? Where are all of the professionals that are not in some way affiliated with the Real Estate industry?

Consumers do not think about us except when they need something from us, and yet we continue to pour our hearts and souls into these virtual diaries under the quaint, misguided certainty that the public actually cares. When someone needs a hammer, they shop for a hammer. When someone needs a house, they shop for a house.

The guy with the hammers is satisfied with the sale. The guy with the houses seeks a relationship. The self-indulgent assumption on the part of the latter is that the purchase of a home is such a momentous milestone in one's life that any old professional just won't do. Surely, an eager home buyer won't just call the number in a random property ad, right? He will want an experienced champion of unassailable virtue and expertise to don armor and joust with sellers on his behalf. He will want to know what his fledgling hero thinks of the current state of the market. He will want to know where his knight in Real Estate armor is ... eating lunch?

We kid ourselves into thinking the social media craze is some new manifest destiny. It is merely an alternate route with the same potential for leading a wayward traveler away from perspective. As we agents tend to sell the amalgamation of our entire being as much as an actual service, it follows that we continue to pioneer such avenues of conceit.

Yes, I sell houses, but Internet 2.0 protocol mandates that I don't simply advertise my wares. You must know what I thought of the latest Harry Potter installment, and where to take the kids to cool down on those hot summer days. Surely the general public will not do business with someone until they learn his political and religious leanings, just as no one would think to employ a member of the service industry before reading up on his family trip to the Poconos.

Don't think my commentary on the absurdity of it all precludes me from being a willing participant in the shared delusion. I will continue to unravel my own personal onion until there is nothing left. No mystery left to discover. No unique perspective left to impart. Only through full assimilation into the collective virtual mainframe does one realize his true social media potential.

Consider it Wikipedia for egomaniacs.

So while there are plenty of homes for sale on my website, I urge you, the reader, to keep following this blog. I have opinions about the career arc of Scott Baio that you need to know before determining whether I am the REALTOR for you.

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The Buyer's Agent Bonus: Thanks, But No Thanks.

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sat, 07 Aug 2010 13:25:44 -0400

Thanks, but no thanks. Therein lie my in-depth sentiments regarding buyer agent bonus compensation.

It’s a tricky business, this whole trust-building endeavor. From the initial consultation with a prospective client, to the signing of the closing documents and all stops in between, a certain rapport and mutual belief in the positive intentions of each party must be developed to produce the desired outcome: namely, the purchase of the most appropriate property at the most advantageous terms. With ample opportunity for an agent to unintentionally spit the bit along the way, warding off the encroachment of countless variables that would undermine the health of the relationship is an undisclosed facet of the job. And what, pray tell, is the swiftest and surest endangerment of one’s relationship with the client? Money. More specifically, the belief, whether founded or not, that the agent is twisting his fiduciary obligation by putting his financial interests before those of the client. That’s a relationship killer. Once any doubt creeps into the mind of the client as to the motivation of his representative, you might as well go ahead and split the sheets.

I don’t want a bonus to sell your listing.

If your listing fits my client’s criteria, and you are offering me fair compensation for services rendered, I will show the property. If you are offering compensation that does not meet my minimum standards, I will show the property if my client agrees to make me whole. Mind you, that’s a terrible disincentive to buyers and buyer’s agents alike, but run your business however you see fit. What I do not require is any kind of additional spiff over and above suitable compensation. An extra percent if the transaction closes in the next 30 days, a co-broke that is double the normal range of compensation, a week aboard the listing agent’s yacht after the close of escrow … all such supposed motivators are liable to call my judgment into question.

Am I really pushing property “x” because it represents that best value proposition for the client, or am I mentally slathering SPF 15 over my epidermis in preparation of the promised week in the Bahamas?

I’m not real keen on trying to explain to my client why I am grossing 20k on a $200,000 transaction while we are sitting around the closing table.

So while I appreciate the extra incentive a listing agent and/or seller may try to stoke via a buyer’s agent bonus, it calls my credibility into question. Matter of fact, I will typically apply any such bonus (if monetary value can be readily affixed) to my client’s closing costs. I maintain my reputation and my client gets an unexpected perk. In fact, I would be in breach of my personal ethics, if not my fiduciary obligation, if I didn’t carve out such extraneous allotments for my client’s benefit. If I am being compensated fairly for my role in the transaction, it is my duty to corral any additional nickels that fall out of the seller’s pockets for the buyer.

Want to expedite your home sale? Put the agent bonus back in your shorts. Repackage the offering as a reduced price or concession towards the buyer’s closing costs. Make the terms more appealing to my client and you will produce the desired result. The seller gets his fast sale, the buyer gets more attractive terms and both agents get happy, referral-prone clients. Everybody wins.

If I want to go play Dread Pirate Roberts in the Caymans, I’ll do it on my own dime.

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What's Mean and Green and Stupid All Over?

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Wed, 28 Jul 2010 15:47:34 -0400

There are dragons lurking in the dark recesses of your property listing. Mean dragons. Mean, scaly, green dragons that might rise up out of their fiery lairs and go all Godzilla on your potential showings if left unchecked.

And by what name, pray tell, are these marauding reptiles known?

“REALTOR Remarks”

Ah yes, that hobgoblin of good intentions in the multiple listing service that provides for private communication amongst local Realtors. It gives me a good shudder just to type the name of the foul beast. Suburban legend has it that if you say it three times in front of the bathroom mirror with the lights off, you will doom yourself to a lonely stint on the market. Why? Because the private portion of the Arizona Regional Multiple Listing Service which is intended to impart “eyes only” information to the Real Estate sales force is home to some of the most spectacular lapses in judgment this side of New Coke.

“Do not approach cage, monkey will bite!”

“Disregard water damage in hall bathroom shower.”

“Bring me an offer, seller needs to sell NOW!!!”

From the laughable (“House is better than pictures make it look”) to the horrific breaching of client confidentiality (“Divorce situation: husband not cooperative”), one little notation in the private remarks of the listing can torpedo the price you command for your home, if not endanger the sale altogether. Alarm codes, additional showing instructions, agent to agent disclosures – all are intended fodder for the REALTOR Remarks section. The mistake that is often made, however, is that anything goes so long as it remains hidden from the prying eyes of the public.

The moral of the story? Read the full property listing before your agent inputs it into the MLS. While you will most likely view a PUBLIC copy of the completed listing once it hits the system, you will not be able to see what is privately disclosed to other agents. You will want to see a copy of the FULL listing to ensure that your best interests have not been compromised by a few careless words.

You priced the home well, staged it to look its best, had it professionally photographed, toured and dispersed to the far reaches of the Internet. Don’t blow it now, kid.

Of course, if you want me to avoid your home like the plague, make sure your agent denotes that it “smells kind of funky, but no known presence of mold.”

In the mood to receive offers that are 50% below your list price? Instruct your agent to notify fellow Realtors to “Bring me any offer and I’ll get it accepted!”

Unless the Stargate in the study presents a clear and present danger to those who would tour your home, best not to mention the possible credit for intergalactic species remediation.

Originally posted at the Scottsdale Property Shop

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You Want to Preview My Home? Buzz off, Ebert.

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sat, 24 Jul 2010 12:25:22 -0400

I have seen my share of thumbs down houses over the years. It’s a sad truth, but for every summer blockbuster, there is a Real Estate Gigli. Properties that look so promising in the MLS trailer fall flat despite the star-studded cast. Granite counter tops, stainless steel appliances, new carpet, manicured back yard … a quick read-through of the script tells you that the home should be a smash hit. Only when you see it on the big screen do you realize that the photos omitted the faux oak paneling throughout the entire downstairs, or the sunken conversation pit in the living room. You never know where Rosemary’s Baby may be lurking behind the pleasing marketing facade that a savvy listing agent has erected to entice showings.

Enter the Real Estate sneak preview.

Knowing all too well that I am performing preliminary recon, sellers will occasionally grill me as to my intentions when I arrive for a preview appointment. As I circumnavigate the home, they give me the unabashed hairy eyeball treatment reserved for ex-cons, Realtors, bankers, lawyers and ill-mannered guests who don’t sit on the plastic. Believe it or not, though, the preview does not merely serve as an arbiter of a buyer agent’s pass/fail verdict. It is a crash course in product awareness.

To those who would disallow Realtor previews because they anticipate the reports will discourage potential buyers from viewing the home, allow me first to offer a mild rebuke, and then to assuage your fears. First, disallowing preview appointments will have the opposite than desired effect. Like the producer of straight to DVD smut who would sooner pay a personal assistant a livable wage than allow an advance screening for critics, you are telling wily Real Estate agents that the house is a total clunker if you won’t let them in for a quick peek prior to an actual buyer showing. Thou doth protest too much, Ed Wood.

Moreover, you do you and your home a disservice by limiting Realtor previews. Salesmanship requires a deft touch. It is just not that easy to sell what one hasn’t seen. When I come through with my client, you want me to focus on the features with which I became acquainted during the preview rather than blundering about blindly. Knowing what specific hot buttons light my buyer up, all parties are best served if I have direct, first-hand knowledge of such. You know, the stuff that doesn't necessarily make it into the MLS.

Is the second bedroom close enough to the master to make a suitable nursery?

Is the kitchen open to the family room or a candidate for expansion?

Is the yard private, but not overwhelming?

Worst case scenario? The home is not a fit for my clients, and I save everyone time. Surely you don’t want any more strangers stomping around your home than absolutely necessary, especially if there is zero chance that the property will work for them. To boot, I just might remember your house as a possible fit for the next buyer I meet.

Want to sell your house? Heed the marquee:

Coming soon … to a home near you … Realtor Paul Slaybaugh!

Pretty please, let him in.

Originally posted at the Scottsdale Property Shop

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Want Your Sale to Stick? You Better Sell It Twice, Bubba.

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Tue, 20 Jul 2010 12:33:48 -0400

Oh, but that little house was turned out the day it landed on the multiple listing service! The hardwood floors all scrubbed and polished. The smell of freshly cut lawn and bougainvillea greeting new arrivals as they stepped out of Mazda Miatas and Chevy Tahoes and Ford Fusions. The windows so crystal clear that the rogue speck of dirt eventually capitulated and moseyed along to a less lonesome locale. Everything was just so as you wooed prospective new owners.

You sold your home that very first weekend. Enchanted the buyers through your concerted efforts to distinguish a well-loved home from the abandoned dreams that haunt the competing bank-owned and short sale properties, you did. Bent on purchasing the best bargain on the block when their plane touched down at Sky Harbor, the nice relocating couple from South Dakota instead rationalized the higher price tag of your owner-occupied home against the great unknowns that plagued the lower cost, distressed property options. After several celebratory glasses of wine, they mentally recast the entire episode with your home starring as the greatest value proposition on the market.

It is now day 14 of the escrow period. The home inspection, a week in the rearview, couldn’t have gone any better. You were never all that concerned about it. You change the A/C filters regularly and have the units serviced semi-annually. You resealed the foam roof with elastomeric last May. You even placed a home warranty policy on the property prior to hitting the market to fend off any unexpected eventualities, you clever fella, you. Now, having agreed to correct the double tab at the main breaker box (damn landscapers), replace the faulty GFCI outlet at the pool equipment and fix the malfunctioning shower diverter valve in the hall bathroom, you let out a well-deserved sigh of relief. Knowing that you have an honest to goodness sale firmly in place, you turn your attention to other pressing matters that had been relegated to the back burner.

And the lawn grows a little taller as the mower doesn’t make it out of the shed this week. The carpet in the hall gets a little matted down from the higher than normal traffic and a missed date with the vacuum cleaner. Aside from little Johnny’s peanut butter fingerprints on the lower third of the living room picture window and the fogged up corner of the breakfast nook window by the doggy door, the glass is still pretty passable. The contents of your cabinets and drawers are strewn about the den and family room, but you have to break a few eggs to make a moving omelet, right? Besides, you already found your buyer. No more agents calling to pop in for a showing with ten minutes notice.

Thus begins the great unraveling of your sale. You see, in 2010, you do not just stage your home for potential buyers. Matter of fact, buyers don’t even possess the most discerning eyes that will take in your abode during the sale process. Nope, those hawkish peepers belong to a black-hatted professional who holds the fate of your transaction in his number-crunching hands.

Once you strike a deal, you better keep the joint gussied up for the appraisal, Jack.

Besieged by stringent regulations and menaced by fire-breathing underwriters, appraisers are no longer encouraged to hunt for validation of the accord reached on the open market by a willing buyer and seller. That’s so 2006. These days, the poor SOBs have more incentive to impugn a home’s value than defend it. This is not a knock on their collective competence, but an indictment of the constraints by which appraisers are currently bound. You counter this institutional bias with the same measures you employed to overcome the price objections of your buyer.

You have to resell the house.

Do not discount the human element in a supposedly objective endeavor. Consider the properties that most Real Estate appraisers spelunk on a daily basis. Bank repo after bank repo, the job should come with a snorkel and a mobile decontamination unit. Given the wide disparity in property condition in the market, the silver lining to cloudy times is an ability to add value to your home though no greater expense than meticulous housekeeping. It’s your agent’s job the sell the objective proof (most viable comparable sales, list of upgrades / features, comparisons between the subject property and comps, etc), and it’s your job to sell the mom, baseball and apple pie.

Clean and “not-jacked-up” is the new granite counter tops and travertine floors.

There may not be an input column in a uniform residential appraisal report for “not infested with hobos,” but latitude is given for affixing additional value based on conditional comparisons to the properties selected for the analysis. The dialed-in condition of your home will stand out in full bas relief against the tired housing din. It is especially critical if you don’t have all of the snazzy upgrades. You are relying on the impression of value for lack of more readily quantifiable measures.

Don’t give in to inertia prior to what has become the penultimate part of the escrow process. Treat the appraisal as a showing appointment instead of the contractual procedure that it is and you give yourself considerably better odds at a soft landing at the closing table with the same purchase price with which you began.

Scented candles, they aren’t just for buyers and third dates anymore.

Originally posted at the Scottsdale Property Shop

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It Is Not a Buyer's Market

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Tue, 13 Jul 2010 15:45:31 -0400

The current market does not favor buyers. I repeat, the current market does not favor buyers.

Allow me to explain. For months, if not years, you have been told that the glut of housing inventory makes for a buyer’s market of epic proportions. Why, the ancient Greeks themselves would write songs about the opportunities that abound for any would-be hero with a hankering for a house. The only problem with this suggestion? It’s just not true.

What is a buyer’s market? Most would define it as a preponderance of available supply and an accompanying dearth of demand. Let’s take a look at both aspects of that equation.

In a perfect financial world, a buyer waits for the market stars to align in just such a manner before swooping in to claim a nest at a fraction of the “normal” cost. It all works great in theory, but real world application necessitates that the prospective buyer be subjected to the same set of variables that has drawn down the pool of demand at large. It’s a buyer’s market when few have the wherewithal to actually buy.

Appraisal difficulties and tightened lending regulations are contributing to a somewhat artificial suppression of demand. The “want” is present in the market. Consumers want to buy houses. They want to take advantage of the greatly reduced pricing and sublimely low interest rates. Homeowners want to refinance their houses so that they can stay in them, thus contributing to the lowering of the overall supply.

Want has nothing to do with it. Without ability, all of the consumer confidence and desire does not translate to actionable demand.

So to clarify the lead-in to this post, the current Scottsdale Real Estate market does not favor ALL prospective buyers, as the “buyer’s market” connotation suggests.

Further, the favorable conditions for those who are in positions to purchase do not necessarily translate to negotiable strength. Well-heeled cash buyers, W2 employees with verifiable income, solid credit history/scores, etc will find that they do not call the shots to the extent that they were led to believe. The bargain bin of bank-owned foreclosures is incredibly crowded. You are elbow to elbow with competing consumers when a new shipment arrives. The mom & pop resellers, by and large, do not have the equitable flexibility to negotiate the 30-50% off of list price that many buyers envision. The short sale properties with the absurdly low price tags are, more often than not, pie-in-the-sky figments of the listing agent’s imagination. You submit an offer 10% off list price to the bank, which in turn proves to be 40% off the BPO (Broker’s Price Opinion) that is performed three months later. The bank tells you they will gladly approve the sale – for 75k more than you offered.

While the inflated inventory levels in the housing sector are cited often enough, it is not widely reported that the number of unencumbered properties available for purchase is far less. In a market that is most assuredly not of the “see house, buy house” variety, the redaction of readily purchasable properties (due to competition in the low end, and lien encumbrances across the full pricing spectrum) tilts the negotiation playing field back towards center. Neither party has a clear cut advantage when facing each other at the negotiating table.

The truth of the matter is that most of the savings that you can expect to uncover have already been factored into the asking price by the time a listing is brought to market. Sure, there will be those that require substantial negotiation, and plenty others still that simply fail to sell. Never underestimate one’s ability to overprice a house. These aren’t the homes you are most likely looking at, though. The ones that buyers are flocking to in droves are those that present the best value opportunities. And why not? Just be prepared for the competition that you did not think existed for said properties in this ballyhooed “buyer’s market.”

Trying to cobble “x” percent off the list price in circumstances in which others are offering “x” above the list price will only lead to frustration. Don’t get greedy. Do what it takes to lock up the lowest pricing the Valley has seen for seven to eight years (longer in some areas) while interest rates continue to hover around 5%, and you are well ahead of the game.

And lastly … smile. You are the guy that so many lament not being right now. You know, the hypothetical guy who spurs such proclamations at office parties and cocktail hours across the Valley:

“If I had two nickels to rub together right now, I’d buy every house on the block for less than I paid for my albatross back in ‘05.”

Originally posted at the Scottsdale Property Shop

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McCormick Ranch Real Estate Series: The Subdivisions

Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives) — Sat, 10 Jul 2010 11:50:50 -0400

Just about anyone who has spent any time at all in Scottsdale is familiar with the planned community of McCormick Ranch. A community which includes some 23,000+ residents, many are less familiar with the approximately 50 individual subdivisions that fall under its umbrella. With radical differences in architecture, amenities, pricing, etc from one subdivision to the next, a prospective home buyer will need to drill down further than general awareness of the McCormick Ranch community at large to find the specific pocket that best suits his/her needs. With this in mind, we launched our McCormick Ranch Subdivision Series.

Featuring individual spotlights for the various subdivisions that compose McCormick Ranch, you now have a one-stop resource shop for everything you want to know about Scottsdale's first master planned community. Builder overviews, subdivision statistics, editorial opinion, neighborhood values, homes for sale, amenities, school info, new listing feeds, photos, maps, street views, floor plans ... this is as comprehensive as McCormick Ranch Real Estate gets.

This page serves as an overview to the subdivision spotlights. Peruse the subdivision map of McCormick Ranch, or choose a subdivision link by name from the tables below.

For a detailed review of the community on a macro level, visit our McCormick Ranch in Scottsdale AZ page.

You can also skip directly to our McCormick Ranch Home Floor Plans page if you know the subdivision/builder you seek.

North McCormick Ranch (Chaparral High School District)

Arabian Gardens Belcara at McCormick Ranch Casa Dia Festivo Country Horizons El Paseo Estados De La Mancha Heritage Terrace Heritage Village 3 Island at McCormick Ranch Lakeside Villas Las Palomas Los Tesoros Mountain View East Orange Tree Estates Palm Cove Paradise Park Manor Paradise Park Trails Playa Del Sur Sands McCormick Suggs Rancho McCormick Sun Canyon Tierra De Los Reyes Tierra Del Norte Tierra Feliz 3 Tierra Nueva Villa De Vallarte Villa Hermosa Vista De La Tierra Vista Del Cielo Vista Del Lago

South McCormick Ranch (Saguaro High School District)

Camello Vista Camino De Arboles Casa Serena Cuernavaca Segundo Del Norte Gardens Estate Los Arboles Heritage Village (I & II) La Mariposa Villas Meridian on McCormick Ranch Palo Viento Palo Viento 2 Paseo Village Paseo Villas Paseo Vista Paseo Verde Pleasant Run Sandpiper Santa Fe Scottsdale Park Villas Spanish Oaks Villa La Playa

Want to search by location on the Ranch rather than by subdivision name? Click on a highlighted area in the map below for links to subdivision spotlights, homes for sale and more.

View McCormick Ranch Subdivisions in a larger map

Ready to buy, sell or rent in McCormick Ranch? Give Ray & Paul a call. We're the agents that other agents Google for McCormick Ranch Real Estate information.

(480) 220-2337 | paul@scottsdalepropertyshop.com

Your source for Scottsdale Real Estate since the dawn of time ... or thereabouts.

Launch your Scottsdale Home Search now!