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MVP'08
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About Me
My name is Patrick Mahony, I have been practicing Real Estate in Phoenix Arizona since the beginning of 2006. Wow, what a crummy time to start a Real Estate career. In my previous life I spent 17 years as a commodity trader at the Chicago Mercantile Exchange. The open outcry business changed dramatically after the debut of the electronic trading platform. I came home on a Monday and asked my Wife of 18 years if she would like to move to a warmer climate. To this day I can not believe that I lived in those Chicago winters. By Friday my Wife Daragh had chosen a Town called Gilbert, in the Sunny state of Arizona. The reason we moved to where we still live today was the schools. Gilbert Unified School district 41. In my opinion the best school district ever. In the greatest City ever.
So why did I choose Real Estate. It started with wanting to flip houses. You remember flipping houses. Buy a home for 100K, paint it and sell it for 150K. Free money. Well, luckily after my previous experience as a trader, I knew we were in for a correction, and that there is no such thing as free money. Although In my wildest dreams I did not think it would be this big of a correction. I decided before I was going to risk a dime, I would learn everything I needed to know about Real Estate in Arizona. The price of land. School systems. Future plans of development, water supply, and local Government. A host of other details I won`t bore you with. During this time there was a loud cracking noise, and people started talking about foreclosures. The rest is history.
Here is what I practice as a Realtor. Treat people as you want to be treated. Answer the phone, respond to emails. No pressure, honest opinion. Work hard, and work smart. I really enjoy my Career. I am building a long term Brokerage. Maybe my wonderful children will take it over some day. Probably not. I have been blessed. My three children, Phelan 15, Peyton 11, Quinn 10, are incredible kids, destine for greatness. My Phelan has just completed her freshmen year at an elite college prep school. A Smart and beautiful take charge, no fear women. My Peyton.... When Peyton was 3 it was determined by doctors that she had a photographic memory. Needless to say she gets straight A`s and doesn`t study, which really bothers big sister. It is amazing what she can recall. Then there is the mighty Quinn. Quinn is living the childhood of Clark Kent and Babe Ruth. When it come to grades he competes directly with the Sisters, and must win.
What do I like best about being a Realtor. Web 2.0, Social Media. This career would really be boring if it weren`t for the Internet. Web 2.0 allows me to do so much more. Video`s, Digital Photos, Maps, networking, and continued education. the technology allows me to chart the trends in short sale, foreclosures, and Re sale homes. Finding your dream home? That`s a tough one. My dream home cost me ten cents on the dollar. In our current market we have a ton of Bank owned, Lender Owned, REO, whatever you want to call them property`s. There is a lot of risk in buying a bank owned property. Most of them are in poor condition, however once in a while there is a lender Owned home that is a great investment. The key is be ready to go with all your inspections, and close fast, or walk away before your 10 day addendum is up.
OK, Here`s the pitch. If you have any question about buying or selling Real estate give me a call (480) 543-9899 And another thing. Realtor, Client realtionships are a lot like dating. You would not get married on the first date. All of my Buyer broker & Listing contracts have a clause stating that...As long as escrow has not been opened, the client reserves the right to cancel ( Fire Me ) at any time.
Good day & Good luck,
Patrick
So why did I choose Real Estate. It started with wanting to flip houses. You remember flipping houses. Buy a home for 100K, paint it and sell it for 150K. Free money. Well, luckily after my previous experience as a trader, I knew we were in for a correction, and that there is no such thing as free money. Although In my wildest dreams I did not think it would be this big of a correction. I decided before I was going to risk a dime, I would learn everything I needed to know about Real Estate in Arizona. The price of land. School systems. Future plans of development, water supply, and local Government. A host of other details I won`t bore you with. During this time there was a loud cracking noise, and people started talking about foreclosures. The rest is history.
Here is what I practice as a Realtor. Treat people as you want to be treated. Answer the phone, respond to emails. No pressure, honest opinion. Work hard, and work smart. I really enjoy my Career. I am building a long term Brokerage. Maybe my wonderful children will take it over some day. Probably not. I have been blessed. My three children, Phelan 15, Peyton 11, Quinn 10, are incredible kids, destine for greatness. My Phelan has just completed her freshmen year at an elite college prep school. A Smart and beautiful take charge, no fear women. My Peyton.... When Peyton was 3 it was determined by doctors that she had a photographic memory. Needless to say she gets straight A`s and doesn`t study, which really bothers big sister. It is amazing what she can recall. Then there is the mighty Quinn. Quinn is living the childhood of Clark Kent and Babe Ruth. When it come to grades he competes directly with the Sisters, and must win.
What do I like best about being a Realtor. Web 2.0, Social Media. This career would really be boring if it weren`t for the Internet. Web 2.0 allows me to do so much more. Video`s, Digital Photos, Maps, networking, and continued education. the technology allows me to chart the trends in short sale, foreclosures, and Re sale homes. Finding your dream home? That`s a tough one. My dream home cost me ten cents on the dollar. In our current market we have a ton of Bank owned, Lender Owned, REO, whatever you want to call them property`s. There is a lot of risk in buying a bank owned property. Most of them are in poor condition, however once in a while there is a lender Owned home that is a great investment. The key is be ready to go with all your inspections, and close fast, or walk away before your 10 day addendum is up.
OK, Here`s the pitch. If you have any question about buying or selling Real estate give me a call (480) 543-9899 And another thing. Realtor, Client realtionships are a lot like dating. You would not get married on the first date. All of my Buyer broker & Listing contracts have a clause stating that...As long as escrow has not been opened, the client reserves the right to cancel ( Fire Me ) at any time.
Good day & Good luck,
Patrick
Testimonials
"About a month ago, I posted a question on Trulia asking for infomation on Gilbert, AZ. (I was not looking for an agent when I posted my question) My husband and I are relocating from Wisconsin. Although most who responded gave me some information I was looking for, but Patrick Mahony responded with exactly what I was looking for. We sent a few emails back and forth regarding properties, talked once on the phone and I knew I found an agent I could trust and feel comfortable with. We worked through email for a few weeks reviewing listings, he help us narrow down our search by visiting each property we thought we were interested in, took pictures for us and gave his comments on each home. Some properties he did not even take pictures for us because he knew right away this was not a home we would be interested in, then gave us his reasons. I tusted Patrick even being 2000 miles away. Last week we made a trip to AZ, met Patrick for the first time, toured homes with him and we could not be happier with choosing him as our agent. We were never once pressured. Referrals are important, I did not have one, I took a chance with Patrick and I am glad I did. I am sure there are many good realtors out there, but give him a call, I promise you will not have any regrets. www.ITSRealEstateAZ.com
Cathy
http://www.trulia.com/voices/Home_Buying/First_time_buyer_looking_for_single_family_house_-26257--"
Cathy Mon Mar 17
Cathy Mon Mar 17
My Q&A
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Patrick Maho…'s Questions (25)
Patrick Maho…'s Answers (635)
Patrick Mahony - Phoenix, Tempe, Scottsdale Chandler, Gilbert, Real Estate answered:
Non of your Links back up your earlier statement....at all
Back this up...This is the statement you are making
"Meg, you are 100% correct about the lack of integrity in a "dual agency" situation- that's why most states have removed that option. To start a transaction representing a seller, then *oops* decide to renege is ridiculous for both buyers and sellers. That it nets the listing agent BOTH sides of the commission is the underlying reason that real estate agents participate in the practice. "
What links?
The DOJ & Wikipedia? those are the only links you have provided.
This is what is wrong with Trulia, People just making such untrue statements. You have argued nothing.
You have demonstrated nothing.
I have told of when Dual agency can work and so has Sylvia.
I am amazed a Broker would make such statements, and then when asked to back it up, NOT, and say she has.
Back this up...This is the statement you are making
"Meg, you are 100% correct about the lack of integrity in a "dual agency" situation- that's why most states have removed that option. To start a transaction representing a seller, then *oops* decide to renege is ridiculous for both buyers and sellers. That it nets the listing agent BOTH sides of the commission is the underlying reason that real estate agents participate in the practice. "
What links?
The DOJ & Wikipedia? those are the only links you have provided.
This is what is wrong with Trulia, People just making such untrue statements. You have argued nothing.
You have demonstrated nothing.
I have told of when Dual agency can work and so has Sylvia.
I am amazed a Broker would make such statements, and then when asked to back it up, NOT, and say she has.
No Tman,
Actually, I am bothered by her statement regarding dual agency, which I find to be so outrageous! and untrue.
We have given her two examples of Dual agency that has helped consumers.
All she can say is Oh!!!! It`s bad! it`s bad!.
No it is not right for every situation, but not all Realtors who have done a dual agency are thieves.
In addition. If you are going to quote an outside source, why leave off 37 pages?being the details.
Regarding the thousands of people you speak about, who I can`t help?
Of course I can`t help them, They are not in my area.
Stick to the conversation. Stick to the facts.
The both of you!
Actually, I am bothered by her statement regarding dual agency, which I find to be so outrageous! and untrue.
We have given her two examples of Dual agency that has helped consumers.
All she can say is Oh!!!! It`s bad! it`s bad!.
No it is not right for every situation, but not all Realtors who have done a dual agency are thieves.
In addition. If you are going to quote an outside source, why leave off 37 pages?being the details.
Regarding the thousands of people you speak about, who I can`t help?
Of course I can`t help them, They are not in my area.
Stick to the conversation. Stick to the facts.
The both of you!
heaven help the real estate community? sure from instant Realtor in a can. Just add water and Poof, for $1.99 I can sell your house.
WOW Sylvia!
You closed a Short Sale! That`s impressive. I hope they paid you both sides. What percentage of Short Sales actually close in your area?
You closed a Short Sale! That`s impressive. I hope they paid you both sides. What percentage of Short Sales actually close in your area?
TMAN!!!!!!!
"Madison, Wis., during the relatively strong housing market in the period analyzed"
TMAN have you ever been to Madison Wis ?
It ain't Chicago!
It ain't New York!
It is a college town! most of the full time residents wear overalls!
During a strong market!
Were not in a strong market now!
Meg is a Fee based Realtor, good for her. Wal Mart sells a lot of paper towels also.
Tell me O`Tman
you`re an investor....why don`t you go buy yourself a Help u sell?
I know of about twenty that are for sale.
Back to the study......LMAO!!!!!!!
Click through to the PDF file, not just the summary. There are an additional 37 pages of FACTS like....
over 15,000 observations,
between January 1998 and December 2004. again in Madison, they sell everything from their drive way!
MLS does, however, lead to faster transactions. Wow do you think that means anything in a declining market?
Page 5 of 37
"One important caveat is that our data comes from a single city. We do not know how
representative the results are of other markets."
DO YA THINK??????
7 of 37
"Real estate agents are occasionally involved in FSBO sales when they represent the buyer
and one of the parties to the transaction accepts to pay a buying agent commission, typically
3%."
Yep they sold it FSBO, and "Oh we have to pay ?"
Most of your FSBO`s paid 3%
"Additional services are available for an extra fee upon
request." So maybe it cost 4 or 5%?
Here`s that Pdf file.....http://faculty.wcas.northwestern.edu/~ane686/research/fsbo.pdf
sure don`t read like the summary
"Madison, Wis., during the relatively strong housing market in the period analyzed"
TMAN have you ever been to Madison Wis ?
It ain't Chicago!
It ain't New York!
It is a college town! most of the full time residents wear overalls!
During a strong market!
Were not in a strong market now!
Meg is a Fee based Realtor, good for her. Wal Mart sells a lot of paper towels also.
Tell me O`Tman
you`re an investor....why don`t you go buy yourself a Help u sell?
I know of about twenty that are for sale.
Back to the study......LMAO!!!!!!!
Click through to the PDF file, not just the summary. There are an additional 37 pages of FACTS like....
over 15,000 observations,
between January 1998 and December 2004. again in Madison, they sell everything from their drive way!
MLS does, however, lead to faster transactions. Wow do you think that means anything in a declining market?
Page 5 of 37
"One important caveat is that our data comes from a single city. We do not know how
representative the results are of other markets."
DO YA THINK??????
7 of 37
"Real estate agents are occasionally involved in FSBO sales when they represent the buyer
and one of the parties to the transaction accepts to pay a buying agent commission, typically
3%."
Yep they sold it FSBO, and "Oh we have to pay ?"
Most of your FSBO`s paid 3%
"Additional services are available for an extra fee upon
request." So maybe it cost 4 or 5%?
Here`s that Pdf file.....http://faculty.wcas.northwestern.edu/~ane686/research/fsbo.pdf
sure don`t read like the summary
Gee Laurie,
Meg is not a Realtor. She has no experience as a Realtor..
You on the other hand are a Realtor. With your statement of....
"Meg, you are 100% correct about the lack of integrity in a "dual agency" situation- that's why most states have removed that option. To start a transaction representing a seller, then *oops* decide to renege is ridiculous for both buyers and sellers. That it nets the listing agent BOTH sides of the commission is the underlying reason that real estate agents participate in the practice. "
So according to you the 300,000 plus Realtor who perform Dual agency are Thieves?
The last Dual agency I did was in 2007, I (and my partner at the time )did a incredible job. I still speak with both buyer and seller and to this day they are both happy. I brought buyer and seller together and did my job! did I get paid the full 6% Nope! To put the deal together I gave up a very big part of my commission.
So you are wrong! Tell me in the last 10 years what (or most of ) states "banned" dual agency? In addition my seller agreed in writing to dual agency before we took the listing.
Dual Agency is a service, It is a legal service.
To just agree with any buyer or seller who posts on a real estate forum, to get their business is the real crime.
Meg is not a Realtor. She has no experience as a Realtor..
You on the other hand are a Realtor. With your statement of....
"Meg, you are 100% correct about the lack of integrity in a "dual agency" situation- that's why most states have removed that option. To start a transaction representing a seller, then *oops* decide to renege is ridiculous for both buyers and sellers. That it nets the listing agent BOTH sides of the commission is the underlying reason that real estate agents participate in the practice. "
So according to you the 300,000 plus Realtor who perform Dual agency are Thieves?
The last Dual agency I did was in 2007, I (and my partner at the time )did a incredible job. I still speak with both buyer and seller and to this day they are both happy. I brought buyer and seller together and did my job! did I get paid the full 6% Nope! To put the deal together I gave up a very big part of my commission.
So you are wrong! Tell me in the last 10 years what (or most of ) states "banned" dual agency? In addition my seller agreed in writing to dual agency before we took the listing.
Dual Agency is a service, It is a legal service.
To just agree with any buyer or seller who posts on a real estate forum, to get their business is the real crime.
Deborah,
They no the score. Everybody knows when they lose money. They just don`t admit it. So don`t talk about the money.
Blame it on fiduciary, " It really is none of my business, but I see a few problems that may occur and I want you to be ready" Just focus on helping them close, not what they could have done better.
When they do run into a problem, they will call you anyway.
Later
They no the score. Everybody knows when they lose money. They just don`t admit it. So don`t talk about the money.
Blame it on fiduciary, " It really is none of my business, but I see a few problems that may occur and I want you to be ready" Just focus on helping them close, not what they could have done better.
When they do run into a problem, they will call you anyway.
Later
Hmm....another happy customer.
Patrick Mahony - Phoenix, Tempe, Scottsdale Chandler, Gilbert, Real Estate answered:
Hey JoJo,
Yes there are great deals in Gilbert. I live in Gilbert and our a big Fan of the community, schools, and city services.
Currently there are 7 homes available from 100K to 125K.
A mortgage loan of about 1ooK will cost you about .....
100,000 loan
30 year fixed term
at 6 percent
tax of 2k per year
home insurance $500. per year
Mortgage insurance $500.
Your principle and interest is approx $600. per month
Your Principal , interest, taxes, and Insurance, approx $850 per month, basically total payment.
That's on 100K loan, there are down payment, and FHA programs, depending on your credit, income, and terms.
You need to talk with a good loan officer and select whats best for you.
If you could swing 125K or 150K there are twenty homes to choose from.
The whole process takes about 30 days, once you select a home.
I would recommend you speak with Gary Miljour, he`s is very good with first time buyers. http://www.garymiljour.com/ he`s in Gilbert.
My numbers are very close a little on the high side, programs are different and can change your monthly payment.
I would be happy to help you find your home. Contact me if you have any further questions.
Good Luck
Patrick
480-543-9899
Yes there are great deals in Gilbert. I live in Gilbert and our a big Fan of the community, schools, and city services.
Currently there are 7 homes available from 100K to 125K.
A mortgage loan of about 1ooK will cost you about .....
100,000 loan
30 year fixed term
at 6 percent
tax of 2k per year
home insurance $500. per year
Mortgage insurance $500.
Your principle and interest is approx $600. per month
Your Principal , interest, taxes, and Insurance, approx $850 per month, basically total payment.
That's on 100K loan, there are down payment, and FHA programs, depending on your credit, income, and terms.
You need to talk with a good loan officer and select whats best for you.
If you could swing 125K or 150K there are twenty homes to choose from.
The whole process takes about 30 days, once you select a home.
I would recommend you speak with Gary Miljour, he`s is very good with first time buyers. http://www.garymiljour.com/ he`s in Gilbert.
My numbers are very close a little on the high side, programs are different and can change your monthly payment.
I would be happy to help you find your home. Contact me if you have any further questions.
Good Luck
Patrick
480-543-9899
Patrick Mahony - Phoenix, Tempe, Scottsdale Chandler, Gilbert, Real Estate answered:
Claudia,
WOW! A single family home in or around Arcadia for those terms?
I could do that in Maricopa, or Queen Creek, but not up there.
First talk to a loan officer. If you are fortunate enough to find those terms, you will need to show that you will be able to buy in 12 months. Find out what you qualify for.
As a former realtor you know that now is the time to buy in that range, and buying will give you that type of negotiation power
Keep me posted.
Good Luck
WOW! A single family home in or around Arcadia for those terms?
I could do that in Maricopa, or Queen Creek, but not up there.
First talk to a loan officer. If you are fortunate enough to find those terms, you will need to show that you will be able to buy in 12 months. Find out what you qualify for.
As a former realtor you know that now is the time to buy in that range, and buying will give you that type of negotiation power
Keep me posted.
Good Luck
Patrick Mahony - Phoenix, Tempe, Scottsdale Chandler, Gilbert, Real Estate answered:
Hey Miriam,
I see from your previous question you are looking to spend about 175K. Currently the soup of the day is Bank Owned Homes 175K to 225K. Bank Owned home account for about 25% to 33% of all sales in Arizona. That 175K range has a lot of competition, because of the affordability. Bottom line is that you have got to bump it up to 225K in Ahwatukee. Currently there are only 5 Bank Owned Homes that are single family available under 225K in Ahwatukee, and all of them have a Phoenix address, because of proximity.
You may need to head a little North East Chandler, or Gilbert to find a value at that level.
I just wrote a blog about Power Ranch Bank Owned Homes under 200K
http://www.phoenixrealestateprices.com/three-great-homes-inp…
Power Ranch is East of Ahwatukee
There are a lot of homes to choose from in the East Valley at your comfort level, Check out my site below, for video tours of other Bank Owned Homes, and east Valley Neighborhoods.
Good Luck
Patrick
I see from your previous question you are looking to spend about 175K. Currently the soup of the day is Bank Owned Homes 175K to 225K. Bank Owned home account for about 25% to 33% of all sales in Arizona. That 175K range has a lot of competition, because of the affordability. Bottom line is that you have got to bump it up to 225K in Ahwatukee. Currently there are only 5 Bank Owned Homes that are single family available under 225K in Ahwatukee, and all of them have a Phoenix address, because of proximity.
You may need to head a little North East Chandler, or Gilbert to find a value at that level.
I just wrote a blog about Power Ranch Bank Owned Homes under 200K
http://www.phoenixrealestateprices.com/three-great-homes-inp…
Power Ranch is East of Ahwatukee
There are a lot of homes to choose from in the East Valley at your comfort level, Check out my site below, for video tours of other Bank Owned Homes, and east Valley Neighborhoods.
Good Luck
Patrick
Patrick Mahony - Phoenix, Tempe, Scottsdale Chandler, Gilbert, Real Estate answered:
Yes you should do it. You are referring to a Hyper local blog
Go to http://www.Agentgenius.com
or
http://www.bloodhoundblog.com
Search Hyper local.
Or the Queen of SEO Mary Mcknight at http://www.RssPieces.com, she has written a few step by step hyper local blog blah blah
Yes it is worth it, especially in your area. You really don`t have that much competition out there.
Take lots of pictures, and video`s also
Good Luck
Go to http://www.Agentgenius.com
or
http://www.bloodhoundblog.com
Search Hyper local.
Or the Queen of SEO Mary Mcknight at http://www.RssPieces.com, she has written a few step by step hyper local blog blah blah
Yes it is worth it, especially in your area. You really don`t have that much competition out there.
Take lots of pictures, and video`s also
Good Luck
My Listings
View all 3 listings
Specialties
Helping people relocate from out of state is the most fun. In today's world technology plays a big part in finding that perfect home. Here is a small part of what I do for my out of town clients. http://www.youtube.com/watch?v=KMuv9CE-x88
I really like this Market, It is separating the part- time Realtor, from the full time I have no life Realtor. Short Sales Suck, I hate them, in my opinion they are just a big scam. Think about it Banks don`t give away toaster anymore let alone 100K.
It is the Bank Owned, Foreclosed, Lender Owned, REO property that you want. There are some great deals on new builds, and there are some awesome deals on Lender Owned. I enjoy the risk, and the reward of a great deal. Currently I have 148 items on my REO Check list. Read my Blog under Bank Owned for some great, near disaster purchases. Not for the faint of Heart.
I really like this Market, It is separating the part- time Realtor, from the full time I have no life Realtor. Short Sales Suck, I hate them, in my opinion they are just a big scam. Think about it Banks don`t give away toaster anymore let alone 100K.
It is the Bank Owned, Foreclosed, Lender Owned, REO property that you want. There are some great deals on new builds, and there are some awesome deals on Lender Owned. I enjoy the risk, and the reward of a great deal. Currently I have 148 items on my REO Check list. Read my Blog under Bank Owned for some great, near disaster purchases. Not for the faint of Heart.
Experience
Latest:
Realtor for Investors Trustee Services, INC.
I was pretty lucky to get a job with ITS, INC. All Business no Games, so you can see why I stay out of the office, and make videos all day. As for my Broker and his staff, some of the sharpest minds in the Real estate and Mortgage world. It is phenomenal, to have the support of such a great company on speed dial.
July 2007—present
Previous:
Realtor for Keller Williams East Valley
Realtor stuff.... Keller Williams was and is a great place to start out. On average I took about 20 hours of classes a month, never boring always informative, Made some great friends there
January 2006—July 2007
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