Answers to Today's Real Estate

Saturday, April 17, 2021

85254 Scottsdale Seller's Builder Play

Scottsdale has a hot zip code 85254. It’s Phoenix’s 90210 if you will. Its boundaries are west of Scottsdale Road, east of 64^th Street, north of Shea and south of Cactus. That’s super-hot and getting hotter. What is going on there is Builder’s are pushing over the old house to build a giant mansion. I call them the White Castle. They build giant white rectangles with flat roofs and sell them for 2.5 Mil.

These Builder’s are so desperate for lots over 24,000+ sqft, they have asked me to help find them lots. My Strategy is to approach a homeowner with a very old house and see if they wish to sell. The prices for lots right now are 700k – 850k depending on specific location within that square and the lot size.

If you are thinking about selling, now is the time. Why? The California exodus has created a Seller’s market. Homes are selling so fast, there is virtually no inventory. We have not had this market since 2005, 16 years ago. Smart Owners are selling now to take their profits off the table. The correction is coming, it has to. We just don’t know when.

I have successfully gotten these Owners top dollar with no commissions, no repairs and easy move out. I have successfully found them nicer, smaller homes (some wished to downsize) and they can pocket the difference. Think about that! Sell at 800k, buy at 250k, its nicer, easier to maintain than the big yard and keep the difference.

If you are thinking about selling, call me know. If you are thinking about listing, I do a flat $5,000 full-service listing. All yours for the asking. Either way, I can’t wait to speak with you.

Buyers get: Sellers get:

FREE Home Inspection 5k Flat Fee Listing

FREE Home Warranty FREE Termite Inspection

FREE Termite Inspection FREE Home Inspection

Best,

Geoff Nowlin, Phoenix Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Friday, February 5, 2021

Arizona’s Eviction Tsunami

Rochelle P. Walensky the Director of the Center for Disease Control (CDC) issued a ban on evictions 9/1/2020 and reinstated it until 3/31/2021. The rationale is that if people get evicted, they move in with family or friends and thereby will spread the covid faster.

Think about how stupid this decision is! Let’s look at the Tenant side first. The Tenant lost their job and now does not have the ability to pay the rent. If the Tenant lives in a “shut-down” State/City, the Tenant may not have any ability to supplement their income. The Tenant gets behind on the rent for the 6 months of the ban. If their rent is $1,000, then they are $6,000 behind! Ouch. Chances are, if they cannot pay $1,000 how are they gonna make it up and pay the $6,000 when the ban is lifted. They are not. Now they have to go to Bankruptcy Court and do a BK to stall the eviction. Don’t think they are not getting evicted, they are, its just a matter of when. The tsunami Tenants face is the combination lock-down, eviction and BK. All sponsored by our Rulers!

Here's the double dumb part:

In order to qualify for the “FREE RENT” Program of the eviction ban, the Tenants must:

Sign a declaration form proving the hardship
Prove that they “TRIED” to get government assistance
Prove they are unable to pay due to job loss
Prove they are making “PARTIAL PAYMENTS”. Most Landlords will not accept partial payments because it stalls the eviction. Herein lies the catch-22.
Prove they will likely be homeless or forced to shared living. How the hell do you prove that?
Make less than 99k single or 198k jointly.

Let’s look at it from the Landlord side. Many Landlords may not be cash rich with the ability to provide free housing to families. Those Landlords will also be forced into bankruptcy. If they cannot make their payment to the Bank, the Bank will ultimately foreclose. Many Banks have provided relief, but that relief is not permanent. At some point, the Bank will need its payments too.

My prediction: the tsunami of Arizona evictions will force both Tenants and Landlords into bankruptcy. The real winners will be the BK Attorneys. Once again, the System is rigged to the elites.

If you disagree or have an alternate opinion, I would love to hear from you. Don’t forget that I sell homes for a www.5kflatfeelisting.com and would love to work with 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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Thursday, February 4, 2021

How to create a Bidding War

Here is my strategy:

List on a Thursday

Open House on Saturday

Open House on Sunday

Offers due by Monday

Decision on Tuesday

And I put this directly into the MLS so all the Realtors can read it, digest it, follow it. Then on Monday, I use a MS/Excel Spreadsheet to stack the offers in readable form so the Client can easily decide which on he wants.

At this open house, I had my www.5kflatfeelisting.com flyer. One guys noticed and asked me about. He wants me to list his 1 Million dollar home for a www.5kflatfeelisting.com and I will. So with him, Here is my Strategy:

Coming soon for 1^st 30 days (an effort for me to find the Buyer), then the open strategy

List on a Thursday

Open House on Saturday

Open House on Sunday

Offers due by Monday

Decision on Tuesday

So let me know if you need to save thousand on your next home sale. Call me to discuss details and timing. Look forward to working with 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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

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480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

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Wednesday, February 3, 2021

Luxury Scottsdale Airbnb

3428 E. Jenan Drive, Scottsdale AZ 85254

1^st house is 3200 square feet 4 bed, 3 baths. 2^nd house is 1034 square feet 3 bed, 1 bath. This home generates $21,000 per month in season and $10,000 per month off season. It sits on 35,000 square foot lot (3/4 acre).

This home was professionally rebuilt in 2009. The ask price is $998,000. See video walk thru attached.

The neighbors are begging me not to sell it to an Airbnbers. Truth is, as a licensed Realtor, I have to present all offers and allow the Seller to decide. I intend to hold it open.

The strategy is:

List on a Thursday

Open Saturday and Sunday

Offers due Monday

Decision on Tuesday

This house is on a septic tank. That means that in order to transfer it with the County, it must be pumped and certified. Or a waiver for transfer.

If you need help buying or selling. See me at www.5kflatfeelisting.com. Looking forward to working with 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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Friday, January 29, 2021

How to earn 20% on your Home's Equity

I have been on a kick lately. When I was asked what can I do with my home’s $200,000 equity? I have started to think of numerous ways families can access their equity to leverage it for income.

Idea: You can Fix & Flip houses with me. In a normal Fix & Flip, I get a loan from a private lender. The private lender only picks up part of the funds needed. The remainder is picked up by a Gap Funder (that’s YOU!). In exchange for your portion of the funds, I am willing to split the profit 50% / 50%. You get your principle back + 50% of the Profit. Let’s look how that would play out

Math Example:

ARV $600,000

Profit (10%) $60,000

Purchase Price $420,000 (we typically need to buy at 65% of ARV)

Private Lender 1^st $390,000 (assumes 65% of ARV)

Repairs $50,000

All other Costs $25,000

Short $105,000 (Gap Funder 2nd, $105,000)

Upon final sale at 600k. Gap Funder gets $105,000 principle back + $30,000 (28.5% ROI).

I can show you a Fix & Flip Calculator that shows all the costs associated with the Buy, Fix and Re-Sell. It calculates the exact dollars needed before we engage in the project. Ask me how you would be secured in this investment and what paperwork would be needed.

I am actively soliciting Investor Clients, Buyer Clients and Seller Clients. If you have a Phoenix real estate need, find me at www.5kflatfeelisting.com

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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Monday, January 25, 2021

New Build price increases

The MLS just came out with 2020 year in review data.

Average New Build List Prices 2019 $399,200

Average New Build List Prices 2020 $442,200 up $43,000 or 10.8%

Median New Build List Price 2019 $295,000

Median New Build List Price 2020 $329,900 up $34,900 or 11.8%

Why do I present this to you? Whether you are interested in a New Build home as a primary residence or you buy New Builds for rental investments both of you are subject to major price increases.

If you intend to buy one or more of these, NOW is the time. If you wait until next year, oops, they will be up $50,000 grand or so.

Are New Builds a good investment? Absolutely, if you look at the last 2 years, if you bought 2 years ago in early 2019, you would be up 22.6%. Obviously, hindsight is 20/20. Why should you buy NOW? Because the Californians are still leaving in droves. The California elites have proposed more crazy ideas that will force more people to leave it. Such as

1. Mandating electric cars (they can’t keep the lights on now, imagine when everyone has an electric car)

2. Leaving Cali Tax (new proposal attempts to tax you for 5-10 years after you leave Cali)

3. Raising the Income Tax higher than today’s 13.6% top bracket

4. Stopping the wall (illegal crossings will spike and so will unemployment)

I don’t offer this idea as a political analyst or for a side but simply to demonstrate policies that drive behavior.

Recommendation: as long as the Californians are being motivated to leave by California, they will. Arizona is the second most popular State to receive them. Therefore, you should be investing in Arizona.

If you need help buying or selling, check me out at www.5kflatfeelisting.com. Looking forward to working with 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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Sunday, January 24, 2021

Wanna do an Arizona Remodel, better know the rules

I just read a fantastic article by Ben Gottleib, Esq. of MacQween and Gottlieb in the Santan News and wanted to share the highlights discussing Home Remodel Projects in Arizona.

Bank of America polled 1,054 residents and 70% said they are tackling home improvement projects during the covid time. This makes sense based on what we are seeing with the price of wood at Home Depot and the general lack of labor.

In Arizona, a GC, or General Contractor is required to have a license with some notable exceptions. The Licensing includes:

. Post a Bond

. Training from an accredited institution

. Pass a written test

. Finger prints

. Background check

Non-Licensed “Handymen” are acceptable if less than $1,000 total for all labor, material, other. An Owner can do his/her own work if, not for sale or rent within 1 year of work completion.

Disclosure Issues by the Seller:

. If the Seller fails to disclose a Non-Licensed “Handyman” project, they could face liability.

. Fraud of Disclosure charge could undo the transaction

. Negligent Misrepresentation charge could get the Buyer an award for actual damages and possible punitive damages (means punishment damages designed to teach a painful lesson)

I am always interested in the legal ramifications as a Licensed Realtor and Home Inspector. I try to keep my Clients out of the Court Room. In my experience, when one gets sued, both the plaintiff and the defendant lose. The lawyers win because they suck all the money out of both parties. So let’s heed Ben’s advice and do our remodel project right.

If you need to sell your house and save thousands, come see me at www.5kflatfeelisting.com. I look forward to working with 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 Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Answers to Today's Real Estate

Saturday, April 17, 2021

Friday, February 5, 2021

Thursday, February 4, 2021

Wednesday, February 3, 2021

Friday, January 29, 2021

Monday, January 25, 2021

Sunday, January 24, 2021

How to cash flow a property

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