http://www.trulia.com/voices/profile/Real_Estate_Pro-Scottsdale_AZ-70245/The latest answers submitted by Paul Slaybaugh to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Home_Buying/I_m_looking_for_a_home_that_has_a_similiar_floorpl-13882Answer by Paul Slaybaugh: Hi Terry, Dave is right. That home appears to have been built by Galleria, and the only current active listing in the subdivision is a much smaller model (1100+ sq ft). Searching by the assessor book number, the link below is to a few listings in neighboring subdivisions with similar size, single level, and date of construction (late nineties). Without physically seeing them, it's improbable to determine the exact level of compatability with the home you mentioned, but it's something. Good luck, and let me know if I can be of any help. http://armlslistings.marketlinx.com/SearchDetail/Scripts/PrtBuyFul/PrtBuyFul.asp?prp=mls&AgentId=PS129&EmailKey=85400006Sat, 17 Nov 2007 11:06:50 PSThttp://www.trulia.com/voices/Home_Selling/Why_do_realtors_deserve_to_sell_a_million_hou-13488Answer by Paul Slaybaugh: If your 13 year old can navigate a million dollar transaction, than he/she can earn that compensation as well. How about this, Tom. Why does the seller deserve 1 million dollars for the sale of house that he bought ten years ago for $400,000? "Deserve" has nothing to do with anything. It's all about market forces. Mr. Seller wants top market value, so he pays the fees necessary to get it. Deserve? What kind of naivete is that?Mon, 12 Nov 2007 17:54:16 PSThttp://www.trulia.com/voices/Financing/What_is_the_construction_costs_per_square_foot_of_-13439Answer by Paul Slaybaugh: So I count 3 local agents responding, and yet an out of area Realtor wants to direct the questioner to his website? Come on, Ian. What purpose does this serve?Mon, 12 Nov 2007 08:58:14 PSThttp://www.trulia.com/voices/Financing/What_is_the_construction_costs_per_square_foot_of_-13439Answer by Paul Slaybaugh: Hi Tara, while it will obviously vary from builder to builder, you are probably looking at between $150-200 per foot. "If you get into highly custom touches and finishes, though, it will exceed that range.Mon, 12 Nov 2007 08:05:09 PSThttp://www.trulia.com/voices/Home_Selling/Participants_How_Was_Your_Open_House_on_National_-12819Answer by Paul Slaybaugh: I saw about 8 parties in 4 hours at my open in Phoenix. 3 legitimate buyers, though not for the property I held open. My partner had even better traffic at another of our listings in McCormick Ranch (10 parties in 3 hours). I was very pleased with the turnout. For a market that has been getting endlessly crucified in the press, there seem to be a lot of buyers out looking at property.Sun, 4 Nov 2007 21:09:04 PSThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Happy Halloween, indeed. This year, no tricks. Only treats. Great properties at great values. Find yours at www.national-open-house.comWed, 31 Oct 2007 10:40:50 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: All hands on deck! The registrations are coming fast and furious. Just emailed all local Realty Executives here in the greater Phoenix area to get their open houses registered by the end of the day. Within five minutes, we had 3 new sign-ups. I expect a wave of activity today. It's a bid deal within my company, make it a big deal within yours! Many thanks to Pete and Trulia for their support, as well as this for providing this great platform for promoting a positive message. This isn't about us. This is about the buyers and sellers out there who need to meet! Agents: GET REGISTERED TODAY at www.national-open-house.com Buyers: Go to the list of open houses on the site to find the perfect one(s) in your community to visit!Tue, 30 Oct 2007 11:28:53 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: You had to know I was kidding Patrick! There is no best answer on this thread! National Open House, November 4th. Running out of time to register, so do it today! 19 states already represented - be the first in your area! Simply go to www.national-open-house.com and follow the directions to register your open house(s), and link to your website. Who doesn't like inbound links from a highly trafficked Real Estate site? Google sure does!Thu, 25 Oct 2007 12:31:35 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Patrick, I fully expect you to carefully scroll through these responses to select a best answer when all is said and done! www.national-open-house.com November 4th. Be there or be square, folks.Mon, 22 Oct 2007 15:56:36 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: How about a little friendly competition to have some fun, folks. In an effort to attract as much participation as possible, I propose that we have a little interstate rivalry here. Let's see which state produces the most agent turnout. Winner gets boasting rights and anything else we deem fit! Sign up today and help drive your state to the top of the heap for the National Open House! www.national-open-house.comThu, 18 Oct 2007 10:57:53 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: I think the newcomers are out of order due to the switch to an automated registration. The site host is no longer manually rearranging the photos after each new submission. We're simply getting too big to contain. As Sylvia mentioned, let's get all Trulia agents registered for some great personal and industry exposure! Sign your properties up at www.national-open-house.com There is nothing left to do except hold your listings open on Sunday, November 4th. You're doing the open house anyway, so why not sign on for this group effort to promote the great deals that are available in this turbulent market?Sat, 13 Oct 2007 23:03:07 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Okay gang, I just put out an email soliciting participation that my office secretary will forward to all agents. It will also be forwarded to the various Realty Executives offices in the Phoenix area. I don't know how many agents it will reach in total, but we have over 1600 agents throughout Arizona! Heather, your server is going to melt! Sign up today at www.national-open-house.comTue, 2 Oct 2007 09:39:26 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Picked up a couple more agents from the Active Rain network today. This is spreading like wildfire. Or is it a snowball rolling downhill? Pick your simile. However you want to quantify it, this is turning into one heck of a push. Agents and sellers: Go to www.national-open-house.com to learn how to participate in the Nov. 4th event. Buyers: All you have to do is show up! Participating listings will be posted on the site, but bear with us as we are currently just trying to keep up with the number of agents who are registering.Mon, 1 Oct 2007 22:15:42 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: James, Absolutely! This effort is open to everyone, everywhere. I'll forward the link to the address you provided. We're happy to have your participation!Mon, 1 Oct 2007 12:43:03 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Ed, as Ruth said, the effort has been underway for several days now. Check out the great site that Heather and Ruth have launched. http://www.national-open-house.com The purpose of this thread has segwayed from conceptual to practical. We're not just thinking aloud now, we are addressing specific means of implementation. Join the discussion as we'd love your input! The effort is fully a "go," now we just need to decide how to market this huge effort to the fullest. I'd love to see all of the agents on this forum participate. Think we wouldn't get any media buzz from Realtors in different companies across the nation making a push for one concerted sales event? Great publicity possibilities within your local markets, and a great way to generate some traffic for your sellers. Show your market that you are adapting creative strategies in challenging times!Sun, 30 Sep 2007 07:26:17 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: I think we want to keep it simple, Sylvia. Much easier to promote a charitable contribution to one organization (and for our profession, what is better than Habitat?), rather than muddling the message. Charity of choice doesn't quite have the ring of naming a particular organization. If need be, we could vote on the charity, but let's keep things consistent where possible. We'll get pulled in too many directions otherwise.Sat, 29 Sep 2007 15:49:36 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: I like that idea as well, Deborah. I was thinking of a contribution to Habitat for Humanity for any property sold as a result of the event. Obviously, additional donations would be welcome, but not mandatory. I like the idea of we Realtors demonstrating a willingness to give back to the community. The public's confidence is assailed everyday by media and cynics alike. Lets do something positive that people can rally behind.Sat, 29 Sep 2007 15:09:12 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Good point, Carrie. Different areas might have different customs regarding time of day. No reason somebody with a hillside or city-light property couldn't choose to do a twilight open house. The national thrust might be better served with just the date, and we can leave the individual times up to the agents to promote for their listings. By the way, getting a little interest from the Active Rain community, but I think the majority are waiting to see if this evolves into something more tangible. Questions about marketing (aside from the website) and the feasability of driving traffic to specific localities through such a broad campaign. In short, they'll want to hop on board after they see some of the fruits of our labor, but are currently just dipping a toe into the pool of interest.Fri, 28 Sep 2007 08:42:51 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: All, I am posting a blog entry to the Active Rain community looking for additional agent involvement. I'll direct traffic to this thread for interested participants and rubber neckers alike.Thu, 27 Sep 2007 12:50:21 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Love the ideas so far, but I don't like the notion of picking a "primary" open house. I want to expose all of my listings. I would have an awfully difficult time explaining to my other clients why I selected another listing to promote. Thoughts?Thu, 27 Sep 2007 08:10:26 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: I'm thinking that a "Trulia Community of Realtors" angle would be mutually beneficial. I agree that we should get as many folks on board as possible (that includes you and other FSBOs, Ruth), but having it under the Realtor umbrella is really what will command attention. If Trulia were to somehow rally around the effort, imagine the great publicity this would generate for their site. I can see it now. "The Trulia Real Estate Community comes together for unprecedented national open house!" How about Roger, Emily, etc? Thoughts?Tue, 25 Sep 2007 09:56:35 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Hi again everyone, I spoke with Patrick this morning, who mentioned that several of you have had trouble reaching me via email. Until I correct the issue, feel free to reach me at the following address: paulslay@aol.com Thanks, PaulTue, 25 Sep 2007 09:12:53 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Patrick, I am in for that date as well. You and I should grab a coffee one of these days to discuss additional means of implementing this locally (in addition to the national push.Mon, 24 Sep 2007 10:40:13 PDThttp://www.trulia.com/voices/General_Area/Hey_How_about_A_Realtor_National_Open_House-9501Answer by Paul Slaybaugh: Patrick, I'm in. I'm preparing to participate in a second community open house (posted a thread about the first effort) in South Scottsdale the prior weekend. Giving the public a reason to look at property is critical right now. With so much inventory, many potential buyers are just drifting aimlessly. Unable to focus on specific areas or make any decisions due to the sheer number of choices. As listing agents, a call to action like this can create some excitement and fear of loss where there is currently apathy and no hurry. Let's get some brainstorming going here. Think of the publicity that "agents banding together to sell houses" can engender.Sun, 23 Sep 2007 10:06:53 PDThttp://www.trulia.com/voices/Home_Buying/Hi_I_am_PLanning_to_Buy_a_House_in_zip_Grayhawk_-11999Answer by Paul Slaybaugh: 550 sounds like an awfully good buy for 2600 square feet in Grayhawk. So much so that I have questions. Is this a property you have already located? The biggest factors in Grayhawk that will negatively affect value are proximity to Thompson Peak Parkway, and power lines. If you are looking at a particular listing at that price point, be very cognizant of these locational issues. I can't believe there would be any other factor, aside from truly horrific property condition, which would make that price a viable possibility. As for your timing, Jay makes excellent points. Now is not the time to buy something for short-term gain, but it is an excellent market for securing a great long-term investment. Vast inventory coupled with very low interest rats maximizes your purchasing power. We still have a growing population, so this buyer's market won't last indefinitely. Some would tell you to hold out and wait for "bottom," but where is that exactly? You never know when bottom has been reached until market conditions have shifted to favor the other side. I personally prefer to strike while the iron is hot, rather than possibly missing the window. Still, though, I just don't see 550 for 2600 square feet as realistic in a desirable section of Grayhawk. Best of luck, and feel free to contact one of us Scottsdale agents if you need any assistance.Thu, 25 Oct 2007 12:23:49 PDThttp://www.trulia.com/voices/Home_Buying/i_want_to_get_licenced_to_get_the_buyers_commissi-11836Answer by Paul Slaybaugh: Sunny, you just nailed the inherent problem with an agent or brokerage that ponies up a buyer rebate. You get what you pay for. Think this will be an agent that really has your best interest in mind, or will take the time to find you the right property (rather than trying to slam you into every place she shows you)? Most importantly, is this an agent that knows what she is doing? In my market, there are two types of agents who offer rebates: rookies and non-productive agents. Not exactly who I would choose to help me locate the best investment, negotiate the sale, navigate the escrow, provide professional contacts, etc. I would opt to use an agent that doesn't just want to make a one-time sale, but a life-long client. Best of luck, Sunny.Wed, 24 Oct 2007 09:27:51 PDThttp://www.trulia.com/voices/Home_Buying/We_re_planning_to_buy_a_home_a_in_Sq_Ft_for_k-11789Answer by Paul Slaybaugh: Great time to buy up there for the reasons mentioned by previous posters, but I have to concur with Dan and Patrick. That is a very difficult zip code to find that size/price combination. My partner and I have a 3000 square foot property listed in Whispering Winds at Troon Village, for example, at just under 1.2 million. Such prices are not unusual for the area.Tue, 23 Oct 2007 11:56:37 PDThttp://www.trulia.com/voices/Home_Buying/I_am_trying_to_determine_how_much_property_coverag-11615Answer by Paul Slaybaugh: Hi Harry, You'll need to check with the HOA to determine the scope of the policy. At the very least you will want content insurance to cover your personal belongings, but you need to know if the existing policy covers bare walls or "studs in." Get the scope of the policy from the HOA's carrier and take it to your provider to fill in the holes.Sun, 21 Oct 2007 10:18:48 PDThttp://www.trulia.com/voices/Market_Conditions/I_am_curious_as_to_how_Arizona_agents_feel_the_new-11385Answer by Paul Slaybaugh: Not necessarily, Ian. How do you suppose these undocumented immigrants would go about securing housing other than falsifying loan applications and using fake social security numbers? This is not a huge reduction to the buyer pool. And if it reduces the number of buyers who falsify loan applications, good! Our market does not need any more bad loans to hinder the recovery of values. If anything, it opens the doors to documented citizens with greater purchasing power to fill their positions. Bottom of the barrel wages might get a boost because the workforce will not be comprised of those who will not work for peanuts. Better pay attracts more highly qualified buyers to fill these positiions. Higher production costs translate to higher prices for new construction. Increases in the cost of new construction could drive buyers back to the resale market. There are numerous places that this measure can lead. It is far too simplistic to chalk it up to "less people, less demand."Thu, 18 Oct 2007 18:04:49 PDThttp://www.trulia.com/voices/Market_Conditions/I_am_curious_as_to_how_Arizona_agents_feel_the_new-11385Answer by Paul Slaybaugh: Great question, Holly. It very well could impact labor costs, so we'll just have to wait and see if that causes any ripple effect into the general market. It could potentially spur price increases in new construction due to the additional time and expense that might be undertaken by contractors to ensure they are employing documented laborers. This could translate to higher prices to the consumer. If it greatly affects the makeup of the workforce, it would also lead to new openings for a labor force of documented citizens. Possibly an even greater influx of new residents into the Valley which would drive prices further through the increased demand. It will be very interesting to see how it pans out. Until we fully realize just how many scofflaws have been ignoring the laws already in place by knowingly employee illegal residents, there is no way to accurately determine the consequences. Great conversation fodder, though. Thanks for this excellent question.Thu, 18 Oct 2007 10:43:32 PDThttp://www.trulia.com/voices/Home_Selling/Radon_Tests_Does_the_seller_have_to_agree_to_all-11383Answer by Paul Slaybaugh: I wouldn't answer this question, seeing that I am located on the other side of the country, but no Florida-based agents have chimed in yet. In most areas, the buyer is basically permitted to do as many physical inspections as desired during the allowable inspection period. Many buyers simply opt for a general home inspection, but others hire roofers, pool technicians, plumbers, electricians, etc to do thorough inspection of all major components. Radon testing is not normal here, unless the home is known to have a previous history of elevated radon levels. That said, I have still been party to several radon inspections that were demanded by the buyer. You really need a Florida agent to break down the inspection provisions of the standard purchase agreement, but I would hazard the guess from afar that the buyer is would be entitled to any and all inspectons within the due dilligence period. Another thing to consider: even if the seller is not legally bound to allow a radon test, I would highly recommend not restricting the buyer in any way, shape or form in investigating the property. Better to discover and handle any potential issues now rather than after closing. Who wants to open themselves up to legal blowback?Wed, 17 Oct 2007 23:47:50 PDThttp://www.trulia.com/voices/Home_Buying/Should_I_buy_in_south_phoenix_or_not_Seems_like_t-11290Answer by Paul Slaybaugh: It's a good time to buy if plan on being in the home for at least several years. A bit trickier if you move in a year or two with the uncertainty in the market. What I do know is that there is a tremendous selection from which to choose right now and, as others have noted, very low interest rates. If prices dip a bit further, but rates increase, what have you gained in waiting? South Phoenix is definitely an area where you should be buying for the future, not the present. Along the Baseline corridor specifically, there is a glut of development that needs to sell before values stabilize. With builders offering deep discounts and incentives, you can secure a great value, but values will most likely fall a bit further until the over-supply is thinned. Smarter people than I will tell you, however, that trying to time that perfect buying opportunity is impossible. You only realize when bottom has been reached because more buyers have entered the market and prices are heading north again. Purchase with eyes wide open, but don't miss the boat by trying to time the market.Wed, 17 Oct 2007 14:32:13 PDThttp://www.trulia.com/voices/Agent2Agent/Real_estate_agents_what_are_your_opinions_on_rece-11339Answer by Paul Slaybaugh: If the agent that I am negotiating against has not viewed the property ... advantage, me! I wouldn't want restrict offers from my seller, and I'll eat the uninformed agent for lunch. I loathe working with lazy or intentionally hands-off agents, but the poor representation is the other party's problem, not mine.Wed, 17 Oct 2007 14:20:43 PDThttp://www.trulia.com/voices/Market_Conditions/California_housing_market_everyone_moving_to_Arizo-10936Answer by Paul Slaybaugh: Sally, for as long as California remains to our west (insert bad beachfront property/fault line joke here), we will be the beneficiaries of an influx of buyers. We have always made a nice alternative for the pricey Real Estate in many California communities. Of course, that has subsided a bit recently due to the spike in prices from 2004-2006. As our values settle back down to sustainable levels, the California to Arizona migration will continue in the manner that it always has. We still have a daily net population gain, so all of these new residents will need a place to live.Thu, 11 Oct 2007 09:55:07 PDThttp://www.trulia.com/voices/Home_Selling/I_need_Pro_Con_advice-10888Answer by Paul Slaybaugh: I would recommend starting off with a company such as C-21 or Coldwell Banker that provides solid training. Being on a commission split also makes more sense than paying monthly fees while growing your business. Once you hit a certain level of production and you do not need hands-on management, it often makes more financial sense to make the switch to a 100% company. Remax is a very good one. I naturally prefer my brokerage, Realty Executives, because we have the best administration in the state. We also have the prestige of being the top brokerage in AZ in total sales volume, transactions per agent, etc, for years. Start small, but aim big. If you opt to jump right into one of the bigger brokerages, I would only do so if there were some type of mentoring system in place that would pair you with a successful agent. Best of luck!Wed, 10 Oct 2007 14:55:26 PDThttp://www.trulia.com/voices/Foreclosure/When_should_a_homeowner_NOT_use_a_Realtor_to_help_-10730Answer by Paul Slaybaugh: Ruth, some people just can't share the reins. I happen to believe that while not hiring a particular agent may make sense, there is really no other viable reason for not employing a better agent than an inability to relinquish control. Financially, emotionally and mentally, you come out ahead by utilizing the skills and resources of a professional. If it is a constant struggle between the client and their supposed ally, however, it's time to sever ties. In your particular case, I still think you would ultimately come out ahead by employing a full service agent (better than the last one) and reducing your opportunity cost. If you can't trust your agent's judgement in getting the home sold though, there is not much I can say that will change that. There are plenty of reasons for choosing the FSBO route. I just don't think it is advantageous. It should be reserved for those who just have to do everything themselves, and as a last resort.Mon, 8 Oct 2007 13:48:05 PDThttp://www.trulia.com/voices/Home_Selling/Selling_as_is_Does_it_need_to_be_in_the_contrac-10692Answer by Paul Slaybaugh: If you will not do any repairs, I would absolutely insist on some type of "as is" language being included in the contract. We do not have attorneys prepare contracts in my area (we agents author the agreement), but our standard boiler plate contract contains verbiage which outlines the systems in the house that the seller is required to have operable at the close of escrow. I have no idea whether your agreement will have similar language, obligating you to certain repairs if not superceded with additional language. Even if you are not contractually obligated to make any repairs, it certainly doesn't hurt to spell out your intentions clearly. Why risk going into the inspection/due diligence period with different expectations than the buyer?Mon, 8 Oct 2007 08:53:00 PDThttp://www.trulia.com/voices/Home_Buying/I_did_a_quick_sign_w_pulte_still_owe_more_do_u_-10480Answer by Paul Slaybaugh: If you want to switch lots, make your desires known immediately. It may be a possibility before Pulte gets too far along with the planning, and of course, groundbreaking. There are several things to consider about changing lots, providing that Pulte okays it. There will likely be differences in the lot premiums, so you might have to pay more. Premiums are often negotiable, however, so they might be convinced to absorb that fee if it means keeping you happy. The bigger challenge will be if your model is not allowed on the particular lot that you covet. I have had several recent dealings with Pulte/Del Webb, and they have strict provisions on which models, elevations and color schemes can go on certain lots. Builders largely try not to stack too many similar properties on top of each other. Tell your agent (you do have an agent, I hope?) of your wish to switch lots, and hopefully it will not be too late to reach an accord with Pulte. Best of luck!Thu, 4 Oct 2007 19:37:29 PDThttp://www.trulia.com/voices/Home_Selling/Received_low_offer_with_a_contingency_that_they_se-10466Answer by Paul Slaybaugh: I don't think so. If I were in your position, I would want the agent that I trusted to sell my property to be the one responsible for the selling the buyer's property. Not only does this assure that the buyer's property is in the hands of a professional that you trust, but your agent has a significant vested interest in getting that property sold. It is the key to closing your sale and earning both fees, so the agent has even more motivation than normal. It sure beats the risk of the buyer hiring a knucklehead to sell the home!Thu, 4 Oct 2007 15:30:22 PDThttp://www.trulia.com/voices/Foreclosure/Would_you_consinder_it_an_ethical_practice_-10432Answer by Paul Slaybaugh: Considering that the closing date is fully negotiable, why would that pose an ethical dillema? Simply inform potential buyers that the seller cannot close before "x" date. You only run into ethical issues if there is some undisclosed problem with the property which is forcing the delay, i.e. the seller not having clear title to the property. Such an underlying factor which is material to the ability to convey title must be disclosed.Thu, 4 Oct 2007 09:48:50 PDThttp://www.trulia.com/voices/Home_Selling/Should_sellers_have_disclosed_-10420Answer by Paul Slaybaugh: While most areas call for the seller to disclose any/all known material facts, I have a difficult time believing that an omission of a couple of plainly visible cracked tiles is cause for much concern. Many areas consider such things cosmetic. I highly doubt that minor cracked tiles would be ruled by a legal authority to be a material fact that would have affected the buyer's decision, had they been aware of it, to purchase the property. As such, your friend should simply say "my bad" and correct the disclosure to reflect the cracked tile. Further, in my area, the disclosure does not have to be provided until after the contract has been fully executed. As such, in Arizona, there would not be a potential disclosure issue if the change was made and resubmitted to the buyer within 5 days of contract acceptance.Thu, 4 Oct 2007 09:06:39 PDThttp://www.trulia.com/voices/Home_Buying/i_am_trying_to_buy_a_new_construction-10419Answer by Paul Slaybaugh: Yes. I am not in your area, but appraisers can jump the immediate vicinity if there is no true direct comparable property. For instance, an appraiser might have to leave the neighborhood for additional comps in cases of an older home that has been fully rennovated. If no other properties in the neighborhood have been rennovated and sold, the appraiser will need to seek justification of value elsewhere. Same can hold true for new construction. If the other houses in the area are older or smaller, it might be necessary to expand the area from which comparables are drawn. So while I haave absolutely no idea whether such is the case in this instance, it is not unheard of. If I were in your shoes, and I questioned the validity of the appraisal whatsoever, I would request a copy. Further, if you do elect to purchase the property, I would assume that your contract would call for the sale to be contingent upon your own appraisal. Good luck.Thu, 4 Oct 2007 08:54:37 PDThttp://www.trulia.com/voices/Home_Selling/I_am_thinking_of_becoming_a_real_estate_agent_Af-10408Answer by Paul Slaybaugh: Hi Sara, Many people have similar notions when the time comes to buy or sell a property. The crucial piece that often gets left out in analyzing cost/savings is expertise. You can save on fees by obtaining your Real Estate license and doing the job yourself, but you run a very high risk of not being adequately prepared to determine/negotiate the best value and to shepherd a transaction from contract to closing. Would you hire a rookie agent fresh out of Real Estate school to represent your best interests? I know that I sure wasn't prepared to command top market value fresh out of school. The job might not be brain surgery, but there is a very steep learning curve. I would offer that it takes a good 10-20 transactions before an agent really starts to have a clue about what they are doing. I would opt for a professional with years of knowledge, networking enroads, and success. After you pay the requisite licensing fees, and the opportunity cost of the classwork (wouldn't you be better served using this time to earn money?), the fee savings will be marginalized as well. Don't lose track of the big picture. Think of the house flipper who starts going cheap on cost by putting in sheet vinyl and laminate countertops in the house, without thought to spending a bit more money for far greater returns. At the end of the day, who cares what you save in cost if you produce a lower net? Don't want to make the mistake of winning the battle but losing the war. If you want to launch a career in Real Estate, by all means get your license. If you are simply looking to cut cost, you'll very likely end up doing yourself more harm than good. Just this agent's opinion. Best of luck in whatever you choose to do.Thu, 4 Oct 2007 08:45:00 PDThttp://www.trulia.com/voices/Home_Buying/What_is_a_typical_margin_that_builders_are_making_-10412Answer by Paul Slaybaugh: There is just no way to quantify this as the levels of demand vary for each builder's product, land costs vary, construction costs vary due to fluctuating availability of contractors and materials, time of purchase (grand opening versus closeout), etc, etc, etc. If you have followed earning reports, many builders have taken losses this year. Meaning that some properties are not even operating at a break-even, and are just dumped to trim the overhead. One way a builder might increase profit margin is through affiliated business arrangement with preferred lenders. A buyer who uses the preferred lender will ultimately be funneling additional money into the builder's pocket, which is why (in addition to having more control of the process) they will offer incentives to use a specific lender. So the roundabout answer to your question is that there are far too many factors and market forces at play to cite a typical gross profit on new construction. Considering the various affiliations a builder will have that open up new revenue streams within a transaction, it becomes nearly impossible to quantify the total profit without complete access to the books.Thu, 4 Oct 2007 08:24:18 PDThttp://www.trulia.com/voices/Home_Selling/Are_high_end_homes_plus_selling_in_Phoenix_-10331Answer by Paul Slaybaugh: Hi Alan, Jay already provided the broad market snapshot, so I'll just add that it really depends on the specific community. There are plenty of pockets where well priced homes in that range are selling at a good pace. In general, though, with the hikes in jumbo loan rates, the lower end of the luxury home market can be somewhat tricky (as most buyers will need to finance more than the maximum conforming loan limit of 417k). With the inflated volume of inventory that Jay correctly demonstrates, it really comes down to knowing the market for the particular property. Pricing, condition, marketing and subdivision absorption rates. Many of the properties that are sitting on the market are lacking in one or more of these elements.Wed, 3 Oct 2007 10:07:21 PDT