Mesa condo sees peaks and valleys since its birth

 Mesa condo sees peaks and valleys since its birth

I was just at 6601 E. University Drive #96 in Mesa doing a home inspection.  This unit is a 3/2/2 1,176 sqft.  

Wanted to tell you all the tale of its journey. 

2003 build sold for $114,000

2005 sold for $217,000 Smart Seller, sold when market was HIGH

2010 sold for $89,000 Smart Buyer, bought when market was LOW

2021 selling for $310,000 Smart Seller?  Maybe, let’s talk about it

The seller has owned the condo for 11 years.  It’s comp rents today are $1,895/month.  I estimate his PITI payment to be $519/month.  That’s a rough cash flow of $1,376/month.  After 11 years, it is possible that he has it almost paid off.  What would you do?  Sell at the high right now or keep forever as income?

That question can only be answered by your personal DNA and your personal situation.  This seller is obviously an older gentleman.  He is also the Realtor and had his card with picture in the unit.  Maybe his situation is that he is retiring and wants a lump of cash.  

Or maybe you keep it in your long-term portfolio for cash flow.  It all depends on your family need and situation.  Wouldn’t you love to be in this situation?  When your ready to put yourself in this situation, call me. 

If you need to buy or sell a home, see us at www.5kflatfeelisting.com.  We look forward to hearing from you. 

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Termite Inspection FREE Home Inspection

FREE Home Warranty FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor

480-466-3737 (216) 703-5740

www.5kflatfeelisting.com by56083@gmail.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

5000 SQFT 1 bedroom house

 5000 sqft 1 bedroom house

I am trying to get this home under contract at 1.97Mil.  I think it will resell at 3.2Mil – 3.4Mil.  Should need between 300k – 500k to fix it.  One just sold in that neighborhood for 2.7Mil and it sold fast.  This is a Paradise Valley home with a Phoenix address.  It is basically right on the line. 

This is not going to be an easy deal because the owner is ailing and now single.  Moving after a lifetime of acquiring things is not remotely easy.  Plus our elderly don’t move fast to boot.  

Because the house is a 5,000 sqft 1 bedroom.  I will need to move a few walls, build a few bedrooms.  It basically needs to be converted from a weirdo house into a NON weirdo house.  

If you need to buy or sell a home, see us at www.5kflatfeelisting.com.  We look forward to hearing from you. 

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Termite Inspection FREE Home Inspection

FREE Home Warranty FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor

480-466-3737 (216) 703-5740

www.5kflatfeelisting.com by56083@gmail.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Property Manager threatens to keep Security Deposit!

 Property Manager threatens to keep Security Deposit

I have a client who is renting now.  She has been told that the house is now sold and she has to leave by the end of the month.  What a stressor!  The Property Manager has already told her that she will not be getting the Security Deposit back.  Interesting position to take since the AZ LAW says differently.  I just pulled www.azlawhelp.org and will summarize their opinion of AZ Security Deposit law.

A security deposit is money that a landlord is permitted to charge a tenant at the beginning of a lease agreement in order to ensure that if the tenant causes any damage to the unit beyond ordinary wear and tear.  Additionally, if they move out without first paying all of the rent.  

Under Arizona law, a landlord may ask for a security deposit up to an amount that is equal to 1.5 times a month’s rent.

Any non-refundable money must be stated explicitly in the lease, which must also include an explanation of the purpose of the non-refundable fee.  

 

Landlord s are required to give the tenant:

1. a signed copy of the lease
2. a signed move-in form on which the tenant can record any damage to the unit that already exists
3. written notification that the tenant may be present at a move-out inspection.

At the termination of the rental agreement, the landlord may deduct from the security deposit:

1. any unpaid rent

2. costs required to repair any damage caused beyond ordinary wear and tear

3. other expenses incurred due to the tenant’s failure to fulfill the tenant’s obligations

4. any other charges that the lease specifically allows

After the landlord has deducted these amounts (if any), the landlord must return all remaining money from the security deposit.

A tenant who intends to vacate a rental unit should either hand deliver or send by registered or certified mail a letter to the landlord providing written notice of the date on which the tenant plans to move out and also requesting a move-out inspection date so that the tenant may be present.  

When the tenant moves out, the tenant should also either hand deliver or send by registered or certified mail a letter to the landlord requesting the return of the tenant’s security deposit and providing the tenant’s new address. 

Within 14 days after the tenant has moved out and the landlord has received the tenant’s Request for Return of Security Deposit, the landlord must provide the tenant with an itemized list of all the charges that the landlord intends to deduct as well as the balance of the security deposit itself.  This list of deductions and any amount due must be sent by the landlord to the address identified in the tenant’s written request or to the tenant’s last known residence if no forwarding address was supplied.

This particular Property Management Firm had better not try to pull a fast one on my Client.  My intention is to let them know that I am watching.  If they continue to attempt a theft of her security deposit, I will take it up with his Broker and the Az dept. of real estate.  Stay tuned….

If you need to buy or sell a home, see us at www.5kflatfeelisting.com.  We look forward to hearing from you. 

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Termite Inspection FREE Home Inspection

FREE Home Warranty FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor

480-466-3737 (216) 703-5740

www.5kflatfeelisting.com by56083@gmail.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Seller missed out on saving $6500!

 Seller missed out on saving $6,500

I inspected this house today in San Tan Valley.  A working-class neighborhood where the homes are supposed to be cheap!  Not any more.  This 1500 square foot, 3 bed ,2 bath, single story, no pool house was built in 2004.  Sold for 125k in 2013 and is now under contract and selling at $350,000.  Wow, wow, wow, time to sell.  Regretfully, this Seller did not know about our $5,000 flat fee listing service.  He would have saved $6,500.  Don’t let this be you.  Time to take your gains off the table before DC finishes ruining the economy.  Time to protect your family and the hard-earned gains you have now.  We have not had this situation since 2005.  16 years you had to wait.  Don’t wait any longer.  Call me to see if it makes sense for you to sell now. 

If you need to buy or sell a home, see us at www.5kflatfeelisting.com.  We look forward to hearing from you. 

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Termite Inspection FREE Home Inspection

FREE Home Warranty FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor

480-466-3737 (216) 703-5740

www.5kflatfeelisting.com by56083@gmail.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Fix and Flip trick of the Trade!

Fix and Flip tricks of the Trade!

One of our Students is in the middle of this fix and flip.  This video walks you thru a few do’s and don’ts.  Anytime you get a house at 65% of the after-repair value, it is a fix and flip contender.  And this house fit the bill.  This house should be ready in 2 weeks for sale at 950k.  In my opinion, the backyard is a bit small to ask that price.  However, it is in 85254 Scottsdale and is directly across from a park.  

Maybe, just maybe, it will get that price.  A house one block away just went under contract at 925k but it has a huge back yard and a better floorplan.  Floorplan is subjective and is in the eye of the beholder obviously.  People often ask me if NOW is the time to get into real estate.  Duh!  The answer is YES.  Even in this highly competitive Seller’s market, you can still find fix and flip opportunities.  I just had an idea for the next video; I can drive thru that neighborhood and you will see a dumpster in every other driveway.  85254 Scottsdale is getting a major face and price lift.  Check out the video for details. 

If you need to buy or sell a home, see us at www.5kflatfeelisting.com.  We look forward to hearing from you. 

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Termite Inspection FREE Home Inspection

FREE Home Warranty FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realto Brett Young, Cleveland Realtor

480-466-3737 (216) 703-5740

www.5kflatfeelisting.com by56083@gmail.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona