March 2015 ~ Gilbert Arizona Real Estate

Saturday, March 28, 2015

Gilbert AZ Housing Market Trends February 2015

1:46 PM Swee Ng

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Gilbert AZ Real Estate February 2015 Housing Market Trends and Statistics

Posted on March 28, 2015

Median Sold Price (Single Family Homes) in Gilbert (by zipcode)
February 2014 - February 2015

Gilbert AZ February 2015 Real Estate Housing Market Highlight:

Active Listing (Inventory) has Decreased 14.0% from January 2015
Number of Homes sold has Increased 26.5% from January 2015
Median Sold Price has Increased 1.9% from January 2015
Average Sold Price has Decreased 6.7% from January 2015
80% of Single Family Homes sold are Traditional Sale
Most Expensive House Sold in Gilbert AZ February 2015, sold at $825,000. click here to view
Observation: Leading towards Buyer’s Market

Buyer has more negotiation power to buy
Seller has to price competitively to sell

Gilbert AZ February 2015 Housing Market Trends

Gilbert AZ February 2015 Housing Market Statistics

	* Active Listing	# Sold	** Price/SQFT
Gilbert	928	320	$128
85233	100	48	$133
85234	156	49	$133
85295	132	67	$118
85296	153	61	$126
85297	132	47	$124
85298	255	48	$140

* Active Listing as 3/18/15 ** Price/SQFT as 3/19/15 source armls. Information is deemed to be reliable, but is not guaranteed

Gilbert AZ Homes for Sale:
Gilbert New Homes (New Build) for Sale
Gilbert New Listing Homes for Sale
Gilbert Just Reduced Price Homes for Sale
Gilbert AZ Homes for Sale Under $100,000
Gilbert AZ Homes for Sale $100,000 – $200,000
Gilbert AZ Homes for Sale $200,000 – $300,000
Gilbert AZ Homes for Sale $300,000 – $400,000
Gilbert AZ Homes for Sale $400,000 – $500,000
Gilbert AZ Luxury Homes for Sale $500,000 - $750,000
Gilbert AZ Luxury Homes for Sale $750,000 - $1,000,000
Gilbert AZ Luxury Homes for Sale Over $1,000,000

View Gilbert AZ Homes for Sale by zipcode:
View All Homes for Sale in Gilbert AZ 85233
View All Homes for Sale in Gilbert AZ 85234
View All Homes for Sale in Gilbert AZ 85295
View All Homes for Sale in Gilbert AZ 85296
View All Homes for Sale in Gilbert AZ 85297
View All Homes for Sale in Gilbert AZ 85298

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Swee Ng

Keller Williams Realty

sweeng@kw.com

15905 S 46th St #160

Phoenix , AZ , 85048

480-721-6253

Swee Ng is a Gilbert resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

What to Look for When Buying an Older Home in Gilbert AZ

10:24 AM Swee Ng

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What to Look for When Buying an Older Home in Gilbert AZ

Posted on March 10, 2015

Anyone who has visited San Francisco or Cape May, New Jersey knows how beautiful historic architecture can be. In San Francisco, they've even named their stately, restored Victorian homes "Painted Ladies."

But, are these older homes good buys? Considering that most of a home's components deteriorate with age, you may be not only buying a vintage home, but vintage problems as well. Here's a quick look at some of the more common problems with older homes.

Foundation
It would seem that an old house has done all the settling it's going to do, right? Wrong, according to Page Engineering in Missouri. The rate at which the house settles diminishes over time, but it never completely stops – especially if the house has never been "piered."

Piers are long steel shafts that are driven through the soil and into the bedrock below. This process takes the weight of the home off unstable soil, and the home is less prone to settlement. It's a big job, though, and quite pricey.

Look for cracks in the walls, bulging floors and doors that won't close. These are all signs of possible foundation damage. Not all cracks, however, indicate a problem, so don't be alarmed – let a professional diagnose the situation.

The engineers with Page suggest taking a 4-foot bubble level with you when you visit an older home you're interested in purchasing. Use the level to check the floors and walls. If any of them are out of level, have the house checked by a structural engineer.

Electrical System
A home's electrical wiring system has a life expectancy of about 40 years, according to Mike McClintock, home repair writer with the Chicago Tribune. Safety risks increase when the system ages beyond this limit, he warns.

If the home was built between 1920 and 1950 and has never been remodeled, it may still have knob-and-tube wiring, which is considered incapable of handling today's electrical loads.

Some home insurers won't cover a home with this type of wiring and will insist that it is replaced before insuring the home.

Your home inspector should be able to determine what type of wiring the home contains and its condition, at least in visible areas.

Plumbing
Old houses typically have old pipes. If the house you have your eye on was built before 1960, the pipes may be made of steel or cast-iron. These materials corrode, decay and rust over time. Cast iron pipes are notorious for becoming clogged with mineral build up.

Determining the type of pipes in the home is challenging because so much of the system is behind walls. A plumbing contractor inspection is your best bet, and even then you may not learn about all of the pipes in the house.

"Replacing old pipes in a 1,500-square foot, two-bathroom home costs $4,000 to $10,000, and requires cutting open walls and floors," claims Joe Bousquin at HouseLogic. Roof

The last thing most homebuyers look at when they drive up to a home for sale is the roof. It's easy to be distracted by charming landscaping and attractive paint colors, but it's imperative that you take a good, long look at the home's roof.

Sagging is a sign that a roof is holding too much weight. This can happen when new roofing is installed over old roofing or from prolonged contact with a significant layer of snow.

If you know you'll be looking at older homes, take along a pair of binoculars. Before entering the home, look at the roof from the curb and determine whether the chimney and rooflines are straight.

Next, check the shingles. If they aren't flat and instead curled or cupped, they may need to be replaced.

Ask the homeowner the age of the roof. Although the lifespan of a roof depends on several factors, if it is wood, tile or asbestos and over 15 years old, you may need to replace it in a few years.

Since a new roof may cost upwards of $8,000, it's important to have the home's roof inspected before obligating yourself to purchase the home.

While it's highly doubtful that a home built in the mid-1800s still retains original components, you'll need to inquire as to the last time these elements were replaced.

Other problems you may find in an older home include:
Lack of storage
Lack of natural light
Inadequate insulation (thus higher heating and cooling costs)
Small kitchen

While all of these items can be rectified, the cost to do so should be factored into the price of the home. That the craftsmanship and materials of an older home have stood the test of time is a testament to its quality. But few things last forever, and a home inspection, using the appropriate contractors, is a must when considering the purchase of an older home.

View more Home Buyer tips at www.SweeEastValleyHomes.com

Swee Ng, is a Gilbert resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us.

Click here to View Gilbert AZ Homes for Sale

Free Gilbert AZ MLS Home Search

How to Lower Your Heating and Cooling Costs

9:29 AM Swee Ng

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How to Lower Your Heating and Cooling Costs in your Gilbert Homes

Posted on march 6, 2015

When temperatures drop below freezing or rise to the point of sweltering, does it seem like your wallet develops leaks? If keeping your home comfortable year-round taxes your budget or tempts you to forgo comfort, you need to find a better way.

Try implementing simple methods to lower your heating and cooling bills.

Save on Air Conditioning
If you didn't have to heat or cool your home, you could easily cut your energy bills in half, as the Department of Energy points out. Few people want to return to the days before air conditioning and central heat, however. The problem, then, is balancing comfort with affordability. Try implementing these cooling strategies to save money while keeping cool.

Raise the AC temperature. Most experts suggest setting your thermostat to about 78 degrees when you're at home and around 85 degrees when you will be gone four hours or longer. For every degree higher you set the thermostat, you may save 1 to 3 percent on your energy bill.

Get a tune-up. As much as you may hate to spend the money, having your central air or window air conditioning unit serviced before the start of the cooling season will keep it operating efficiently and help ensure it doesn't break down at the worst moment possible.

Create wind chill. Moving air always makes you feel a little cooler. Purchase, install and run fans to help cool off even with the thermostat set higher. For ceiling fans, set the blades to spin counterclockwise, creating a cooling downward breeze. Turn off fans when you leave the room for more than a few minutes to conserve energy.

Take advantage of cool nights and mornings. If the temperature outside is lower than inside, turn off the AC, open the doors and windows, and allow the outside air to come in. Not only is fresh air healthy, but you can keep your house from heating up too early in the day.

Develop a green thumb. Trees and shrubs beautify your property and, when planted strategically, help shade your home. Shade means less need for summer cooling. Also, plant shade trees or shrubs around your AC unit so that it doesn't have to work as hard.

Block your windows. Save soaking up the sun for time spent outdoors. Inside, draw curtains to block out the sun. Look into window film to block sunlight and insulate the glass. Blinds, shades, shutters and other options exist as well.

Save on Heating
Don't let winter's frigid temperatures make your energy bills soar sky-high. Focus on a few strategies that keep the cold at bay while preventing the heat from leaking out of your home.

Lower your heating thermostat. When heating your home, keep your thermostat set at 68 degrees. At night and when you leave the house for four hours or longer, try setting it for between 55 and 60 degrees (if you have pets, you may want it closer to 60).

Have your furnace serviced. Even if it seems to work fine, having your furnace or heating system checked and serviced at the start of every heating season helps prevent unexpected breakdowns and ensures it operates efficiently.

Reverse your ceiling fans. Using ceiling fans isn't just for summer. In the winter, reverse the ceiling fan so the blades spin clockwise. This forces the warm air down as it sucks the cool air up toward the ceiling.

Install storm windows. Your windows are responsible for losing a tremendous amount of energy. New, energy-efficient windows are best if you can afford them. If you can't, install storm windows (and doors) in the winter to help prevent heat loss.

Get a snake. Don't like snakes? You'll like this one: Draft-stopping snakes fit along the bottom edge of a door to prevent drafts. Even a rolled-up towel will work.

Year-Round Heating and Cooling Efficiency
Change your filters. Changing HVAC filters is critical. Changing your filters will prevent dust and dirt from clogging the system and causing inefficiency.

Learn to use caulk and weatherstripping. Check for drafts around windows, doors, and places where wiring, plumbing and other items enter the home. Caulk and weatherstripping will stop much of the air leakage. Use expanding foam insulation where appropriate.

Seal your ductwork. Duct tape only goes so far. Hire a professional or seal your ducts with sealant and special tape to increase your energy efficiency.

Add some insulation. Unless your home was built recently, it may not have the insulation it requires. Insulation matters in both hot and cold weather. Add insulation, especially in the attic, to lower your heating and cooling bills. Calculate your insulation value by measuring the thickness and multiplying by the material's R-value. Compare to the Department of Energy's guidelines.

Get a new thermostat. A programmable thermostat can save you a significant amount of money by automatically adjusting the temperature according to your schedule.

Have an energy audit performed. A professional energy audit identifies where your home is losing heat. Many local energy companies offer free or low-cost audits to their customers.

Many people find it challenging to set their thermostat higher in the summer and cooler in the winter. Once your body adjusts, the new temperature won't be as difficult to maintain. Consider adjusting the setting by 2 degrees at a time over a period of weeks. Before you know it, you will be used to the new normal and enjoying every dollar you save.

Get more Green Living tips at www.SweeEastValleyHomes.com

If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us.

Click here to View Gilbert AZ Homes for Sale

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What You Must Know About Insurance When Buying a Home

10:23 AM Swee Ng

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What You Must Know About Insurance When Buying a Home in Gilbert AZ

Posted on March 3, 2015

Purchasing a home in Gilbert AZ involves getting to know a lot of financial terms and processes that most first-time homebuyers have never been exposed to. One of the most confusing is insurance. If you've never owned a home before, your familiarity with insurance most likely centers around auto insurance, health insurance, life insurance and, perhaps, renter's insurance.

Even then, your level of familiarity may be minimal, if you are like most Americans. In fact, a mere 14 percent of those who have health insurance understand even the most basic insurance jargon, such as deductibles, co-payments and co-insurance, according to a study published in the Journal of Health Economics.

The various types of insurance required in the average real estate transaction are even less understood, so let's take a look at them and get you up to speed.

Title Insurance
Title insurance comes in two varieties: a lender's policy and an owner's policy. If you take out a mortgage to purchase the home, your lender will require that you purchase a lender's policy. This protects the lender from anyone else who thinks he is the rightful owner or otherwise has a claim against the property.

Depending on where you live, you may also be required to purchase an owner's title insurance policy. In other areas, the purchase is voluntary.

The issuance of either policy is based on research of the property's title, or the "chain of title" as it is known. The examiner will look at public records, such as deeds, wills and trusts to ensure that the wording is proper and that the names on the documents are correct. She will look for outstanding mortgages, judgments and any liens against the property. She will check easements, look for pending legal action against the property and more.

Should the examiner find problems on the title, they will need to be remedied before the purchase can be completed.

Once the policy is in place, the lender (and you, if you purchase an owner's policy) is insured against unknown heirs coming forward claiming ownership, forged signatures on the deed, mistakes in the public records, and other hidden hazards.

Homeowners Insurance
You may hear homeowners insurance referred to as hazard insurance, but they are one and the same. Again, if you take out a mortgage to purchase the home, the lender will require that you purchase homeowners insurance.

While coverage varies, most policies cover fire damage or loss, theft, wind damage, hail damage, vandalism and more. Some perils aren't typically covered, such as flood and earthquake damage, but there may be supplemental insurance that you can purchase to cover these hazards.

Your insurance agent can help you determine how much coverage you require, based on the loan amount and what it might cost to rebuild the home.

Payments to the insurance company are either kept in an escrow account sent in with your mortgage payment or the homeowner pays the premium on her own – it varies by insurer. If you suffer a loss, the insurance company will typically make out the check to both you and the lender.

Private Mortgage Insurance
Private mortgage insurance is something most homebuyers and homeowners would love to get rid of, but it's a necessary evil. Without it, many buyers would not be given a mortgage and thus not be able to purchase a home.

PMI is required of borrowers whose down payment is less than 20 percent. Because these borrowers are considered higher risk, the lender needs assurance that it will get its money should the borrower default on the loan.

Because the borrower pays the premium (typically added to the monthly mortgage payment), it seems that the lender is the only party that benefits. Keep in mind, however, that without PMI, lenders would demand a 20 percent down payment. Therefore, the cash-poor borrower reaps an enormous benefit.

The good news about PMI - at least for those with conventional loans - is that you can request a cancellation of the insurance once your loan balance reaches 80 percent of the original value of the home. Unfortunately, borrowers with an FHA-backed loan are locked into paying mortgage insurance premiums for the life of the loan, if they put less than 10 percent down. Borrowers who pay more than 10 percent, but less than 20 percent, can cancel the mortgage insurance in 11 years.

The best people to speak with if you have questions about any type of insurance required during the home-purchase process are your lawyer, your real estate agent and your insurance agent.

Get more Home Buyer's Tips at www.SweeEastValleyHomes.com

If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us.

Click here to View Gilbert AZ Homes for Sale

Free Gilbert AZ MLS Home Search