Arizona Relo Realty
Northeast Valley Scottsdale Phoenix Metro Area
17 Years Experience in Residential Real Estate
Tim Henry Broker/Owner
Buyers
In Arizona real estate commissions are paid by the sellers in 99% of the transactions, so there is no cost to the buyer. Before the banks entered the market a typical transaction between a buyer and seller would include a 6 page seller disclosure which is still the case in a normal sale. Banks want you to waive any type of disclosure as they don't want to be liable for anything. A bank will however allow you an inspection period which is normally ten days from the acceptance of the contract. One thing to keep in mind though here is that some banks, believe it or not, will only give you a verbal acceptance initially so keeping track of the days is important.
How I Work
In a nutshell, you are the boss! I like to start by having an idea of what you are looking for, time frame, and qualification status. You can either call me directly on one of my 800 numbers on the home page or email me at calltimhenry@aol.com . One thing about me is that I try and see things from the perspective of a buyer. I will treat you with respect and answer your questions honestly and directly. For example recently I met with a family from Canada that was looking at buying in a golf community here and the husband asked me "Do you think this area will be rising in value within the next couple of years?"...............a great question of course, which I answered as honestly as I could.
"No" I replied...."there are too many on the market now and just not enough buyers..................that situation will change of course but to ask if it would happen in a year or two I would have to say no, it isn't likely. If you are buying to have a great place to live and enjoy then the time is right now, but if you are looking at an investment that is going to appreciate-- THAT I would consider to be speculative".
I could tell by his expression that he did not get the answer he was looking for.......some realtorese like: "Ohhh......yes!!......what a fantastic buy! That area is just about ready to take off"!!! We've all heard it hundreds of times and is the primary reason we hide by the potted plants at cocktail parties behind the lawyers. I guess I'm a little jaded though after listening to thousands of sales pitches my entire life, it's something I really don't like, if you hire me I promise I won't do it to you. What I will do though is clarify the options and of course make recommendations as I see them.
The Showings
Soooo...........how do we start? First things first we pick properties to look at after going through the wish list and are comfortable with the price range. Loans are very straightforward now and I recommend anyone buying get fully approved right at the beginning, there is generally no cost and I can recommend several lenders who will be happy to qualify you. I'm really amazed at how many people start with the house instead of the loan. When I go to the store to buy a steak and only have enough for a hamburger, I get sad at the checkout counter...............what? I wanted a steak! The powers that be are clamping down too on lender trickery regarding locking loans. It's harder now to float a rate lock as there are new disclosure rules that require a lender to send out a new set of disclosures if the rate changes anywhere over or under 1/8th of a point from the initial quote and disclosure. This is actually a great thing for consumers. The old game of under quote and then jack the rate up two days before the closing if the market went the wrong way is a lot harder to pull off now. So, assuming we can get through the express lane let's look at the showings and how I like to set them up.
Once we've narrowed things down I always like to set up the BEST FIRST. How many you might ask can we see in a day? 36 is my record in one day, but many have been 20-25, it all depends on your comfort level. Having sold hundreds of homes it is rare that you see something on day three that you somehow missed on day one. What can happen and is really pretty common is that the things you thought you would like you didn't and some things that you see will change your perspective. I'm very good at switching gears--it happens a lot and it's OK. Day one is kind of the definer day when you get out and walk around in houses-- you get a feel for what you like and don't like by walking the properties and driving the neighborhoods, there is no substitution for that. Most buyers buy after seeing the house 2 or 3 times and at different times of day etc. In this market there is extra stress if you decide to play the bank roulette game. Again check the blog for details on how banks price properties intentionally low in order to get multiple bids. I have no problem representing you in a bank owned property buy, just be forewarned that you will need to act fast and obey their one sided rules. Buying a bank owned property is like playing cards with your grandmother............guess who makes the rules?
Short sales are different, the rules are worse and navigating them is tricky under best case conditions. I see this in listings constantly: "we close short sales"!, "short sale specialists", etc.......Short sales involve a set of puzzle pieces that are subject to change so to declare that you can predict the future decisions of bank asset managers sometimes on the other side of the planet is pure speculation. Sorry folks, they aren't easy or fun. The rules are written by the foxes guarding the hen houses and that's one house to avoid! Just my opinion and viewpoint, but if you are looking at picking up a short sale property be prepared to undergo a real estate root canal. You'll be happy once it's over if you are fortunate enough to get a great deal but getting there will require a great deal of patience.
I can drive or meet you at the first house whichever you prefer. Some people just like to have the space from a real estate agent after looking at houses all day, it's not a problem with me. I don't have buyers sign written buyer broker agreements, I trust that they will be loyal to me as I am in representing them.
How I Work
In a nutshell, you are the boss! I like to start by having an idea of what you are looking for, time frame, and qualification status. You can either call me directly on one of my 800 numbers on the home page or email me at calltimhenry@aol.com . One thing about me is that I try and see things from the perspective of a buyer. I will treat you with respect and answer your questions honestly and directly. For example recently I met with a family from Canada that was looking at buying in a golf community here and the husband asked me "Do you think this area will be rising in value within the next couple of years?"...............a great question of course, which I answered as honestly as I could.
"No" I replied...."there are too many on the market now and just not enough buyers..................that situation will change of course but to ask if it would happen in a year or two I would have to say no, it isn't likely. If you are buying to have a great place to live and enjoy then the time is right now, but if you are looking at an investment that is going to appreciate-- THAT I would consider to be speculative".
I could tell by his expression that he did not get the answer he was looking for.......some realtorese like: "Ohhh......yes!!......what a fantastic buy! That area is just about ready to take off"!!! We've all heard it hundreds of times and is the primary reason we hide by the potted plants at cocktail parties behind the lawyers. I guess I'm a little jaded though after listening to thousands of sales pitches my entire life, it's something I really don't like, if you hire me I promise I won't do it to you. What I will do though is clarify the options and of course make recommendations as I see them.
The Showings
Soooo...........how do we start? First things first we pick properties to look at after going through the wish list and are comfortable with the price range. Loans are very straightforward now and I recommend anyone buying get fully approved right at the beginning, there is generally no cost and I can recommend several lenders who will be happy to qualify you. I'm really amazed at how many people start with the house instead of the loan. When I go to the store to buy a steak and only have enough for a hamburger, I get sad at the checkout counter...............what? I wanted a steak! The powers that be are clamping down too on lender trickery regarding locking loans. It's harder now to float a rate lock as there are new disclosure rules that require a lender to send out a new set of disclosures if the rate changes anywhere over or under 1/8th of a point from the initial quote and disclosure. This is actually a great thing for consumers. The old game of under quote and then jack the rate up two days before the closing if the market went the wrong way is a lot harder to pull off now. So, assuming we can get through the express lane let's look at the showings and how I like to set them up.
Once we've narrowed things down I always like to set up the BEST FIRST. How many you might ask can we see in a day? 36 is my record in one day, but many have been 20-25, it all depends on your comfort level. Having sold hundreds of homes it is rare that you see something on day three that you somehow missed on day one. What can happen and is really pretty common is that the things you thought you would like you didn't and some things that you see will change your perspective. I'm very good at switching gears--it happens a lot and it's OK. Day one is kind of the definer day when you get out and walk around in houses-- you get a feel for what you like and don't like by walking the properties and driving the neighborhoods, there is no substitution for that. Most buyers buy after seeing the house 2 or 3 times and at different times of day etc. In this market there is extra stress if you decide to play the bank roulette game. Again check the blog for details on how banks price properties intentionally low in order to get multiple bids. I have no problem representing you in a bank owned property buy, just be forewarned that you will need to act fast and obey their one sided rules. Buying a bank owned property is like playing cards with your grandmother............guess who makes the rules?
Short sales are different, the rules are worse and navigating them is tricky under best case conditions. I see this in listings constantly: "we close short sales"!, "short sale specialists", etc.......Short sales involve a set of puzzle pieces that are subject to change so to declare that you can predict the future decisions of bank asset managers sometimes on the other side of the planet is pure speculation. Sorry folks, they aren't easy or fun. The rules are written by the foxes guarding the hen houses and that's one house to avoid! Just my opinion and viewpoint, but if you are looking at picking up a short sale property be prepared to undergo a real estate root canal. You'll be happy once it's over if you are fortunate enough to get a great deal but getting there will require a great deal of patience.
I can drive or meet you at the first house whichever you prefer. Some people just like to have the space from a real estate agent after looking at houses all day, it's not a problem with me. I don't have buyers sign written buyer broker agreements, I trust that they will be loyal to me as I am in representing them.
Scottsdale is where I own a home and have lived continuously since 1994. North Scottsdale is loosely defined as the area north of Camelback Road and Fashion Square. Interspersed in this lushly landscaped area of grass and trees are many smaller patio homes and condos, perfect for winter visitors and empty nesters. As you venture north across the canal, north of Frank Lloyd Wright Blvd., you will begin to sense more of a desert environment. Named by National Geographic Magazine as the "lushest desert in the world", the High Sonoran Desert is truly one of the most abundant natural treasures in the world. Scottsdale is in a word "pricey" with most homes over $300,000. A winter haven for the well heeled by and large, Scottsdale has the valley's greatest concentration of furnished condos, patio homes and townhouses.
