5 Reasons Why You Should Install a Pool Fence

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5 Reasons Why You Should Install a Pool Fence

Posted on May 26, 2015

Are you a pool owner? Do you own a pool in your backyard? If you are, you may be contemplating installing a pool fence. Although a fence is recommended, you may be looking for reassurance that you are making the right decision. After all, high-end pool fences can cost thousands of dollars.

As for why you should install a fence around your swimming pool, here are 5 reasons why you should install a pool fence.

1. It Is an Amazing Safety Tool
On the market today, you can find an unlimited number of items that are commonly referred to as pool safety tools. Just a few of these items include pool safety covers, pool alarms, and flotation devices. The more safety tools you use, the better protected you will be, but the greatest of all is a fence around your swimming pool. Why? Because if your swimming pool area is outfitted with a strong and sturdy fence, the chances of anyone getting inside are slim to none.

2. It Can Help to Reduce Your Liability
If you are a parent, a pool fence is a must. However, even if you aren't a parent, you can still benefit from installing one in your yard. Do you have children in your neighborhood? If one of those children made their way into your yard and fell into your swimming pool, even when uninvited, you could be held liable. It all depends on the safety measures taken, as well as the family of the victim. Don't take any chances. A pool safety fence can help to keep unwanted guests from your pool, keeping it a fun, safe, and affordable place for you to sit back and relax.

3. Your Buying Options
As it was previously stated, high-end swimming pool fences can sell for thousands of dollars. The good news, however, is that you don't have to spend that much. Depending on the size of your swimming pool and the type of fence you install, you could walk away only spending a few hundred dollars. Even if this seems like a lot, remember that a fence around your swimming pool can help to protect your children or reduce your liability from stranger or neighborhood related accidents.

In keeping with your buying options, there are a number of pool fences available for sale. These include a number of wood styles, mesh, aluminum, iron, and metal. When making your decision, be sure to examine costs and consumer ratings.

4. Ease of Installation
At first glance, a installing a fence around your pool may seem like a task that you just want to avoid. Yes, it can be difficult to do, but it all depends on the type of fence you purchase. Mesh pool fences are the easiest to install. Depending on where you make your purchase from, free installation may be included the overall cost. In fact, professional installation is something that you will want to closely examine, regardless of whether or not it is included.

5. Because It May Be the Law
Perhaps, the greatest reason why you should have a pool fence installed is because you may be required to by law. Did you know that many pool owners are actually surprised when they receive a fine from their local code enforcer? Before your swimming pool is up and running, be sure to check your local and state laws concerning fences around swimming pools. For example, in New York State all swimming pools that hold more than 24 inches of water must have a pool fence installed, even above ground swimming pools.

As an important reminder, a fence around your swimming pool is an amazing safety tool. With that said, it is only if you properly use it. Be sure to keep your gate locked at all times. This may take some practice on your part to get use to, but always keep your gate locked. Be sure to keep all chairs, toys, and ladders away from the fence to prevent someone from climbing it. An alarm on your gate is also recommended.

Gilbert AZ Homes with Pool for Sale:
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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.

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How to Be a Respectful Home Buyer

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How to Be a Respectful Home Buyer

Posted on May 19, 2014

When a home is on the market, the seller's privacy goes out the window. It is almost guaranteed that some buyers will open drawers, peek inside cabinets and touch items that are obviously personal and not included in the sale.

Coming home from work to find that the impeccably-made bed you left in the morning is now covered in a ball of linens is obviously annoying. Constant requests to extend deadlines, lists of demands and nitpicking the condition of the home are not only time consuming and insulting, but they do nothing to endear the buyer to the seller.

These are just a few examples of homebuyers behaving badly. Depending on the market, however, buyers are not necessarily in the driver's seat. During periods of multiple offers and heavy investor involvement, it's important for buyers to be on their best behavior. So, dear homebuyer, read on to learn how to not turn off the seller of your potential dream home.

The Time Bandits
Savvy home sellers spend a great deal of time ensuring that the home is presentable during the marketing period. They clean, de-clutter, and then inconvenience themselves by skedaddling before any potential buyers show up. Buyers that cancel appointments at the last minute, or just don't bother to show up, are behaving quite badly.

Unless an emergency came up, and there was no time to call your agent or the seller, try to provide the seller with at least several hours' notice that you won't be arriving to tour the home. It's the polite thing to do, and it just might save the seller from needlessly preparing for your arrival.

"Time is of the essence" is a phrase that you'll see in most real estate purchase contracts. What it means is that all specified deadlines in the agreement are mandatory – well, sort of. Yes, you can request the extension of a date and it will most likely be granted, if the reason for the request is compelling enough.

Frivolous requests, however, or those made repeatedly, are big time wasters. Sellers are frequently on a tight schedule to get the transaction to the closing table. Just as you are excited to get into your new home, the seller has plans as well. Keeping contract deadline extension requests to a minimum is one way you can contribute to a smooth transaction.

Then there is the homebuyer that, once the ink dries on the contract, treats the home as if it's unoccupied and equipped with a revolving door. One week it's an interior decorator that needs access to take measurements, then, perhaps, the next week it will be the architect. Many buyers want to show family members their new home – before it is actually their new home.

The seller, in the meantime, is packing for the move, having repairs completed, accommodating the appraiser and inspectors – all while attempting to live a normal life. Additional home tours are more than an inconvenience, they are time stealers.

If you must gain access to the home, ask your agent to find out when the inspector or appraiser will be there and arrange to visit at the same time.

The Nitpickers
Nitpicking is neither a successful price-reduction nor negotiating strategy, as buyers who have tried it can likely attest. Bankrate.com's Dana Dratch calls these buyers "gladiator wannabes," who, after they've agreed to purchase a home, come in with a long list of things that are wrong with it, or a list of concessions.

The art of negotiating depends on give and take – not a barrage of one-sided demands. Let your real estate agent do the negotiating. If you truly feel that something that is wrong with the house commands a price reduction, your agent should be able to justify it with a list of comparables and reasons why the home doesn't stack up.

The Unprepared
There are several reasons why a real estate agent will suggest that a buyer get fully approved for a loan before submitting an offer. Buyers that don't take this important step will run the risk of derailing the entire transaction.

Even a pre-approval commitment from a lender isn't firm. Once the loan application is in the hands of the underwriter, anything can happen. Many times, a buyer will receive a letter from the bank – in the middle of a transaction – listing all the conditions that must be met before the loan is approved. Satisfying these conditions not only takes time, but, depending on the conditions, may result in a cancelled sale.

Take the time to work with your lender to ensure that you will get the loan before committing to purchase a home. Don't make any major purchases until the home closes escrow. Entering into the process knowing that you'll get the loan is not only a courtesy to the seller, but the peace of mind it will give you is priceless.

Both parties in a real estate transaction have schedules that need to be accommodated during the purchase process and, of course, sellers can behave badly as well. (We'll take a look at that in a future article). Respecting each other's needs helps make the transaction run smoother and more comfortably for all concerned.

Get more Real Estates tips at 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.

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AZ Home Plus Home Loan Program

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AZ Home Plus Home Loan Program | Down Payment Assistance Program

Posted on May 18, 2015

The Arizona Housing Finance Authority (AzHFA) operates on behalf of the Arizona Department of Housing to assist creditworthy renters who can afford a mortgage but lack the resources for a down payment. The AzHFA Home Plus Home Loan Program provides an attractive 30-­year fixed-­rate mortgage with a down payment assistance (DPA) grant to qualifying homebuyers purchasing a primary residence, which they intend to occupy. The DPA is provided as a non-­repayable grant that can be used for the down payment and closing costs, equal to 4% of the initial principal balance of the mortgage loan.

Qualified U.S. military personnel and veterans may receive an additional one percent of DPA for a total of 5% of the mortgage amount. The DPA is only available in conjunction with a Home Plus loan and is funded by AzHFA at the mortgage loan closing. Home Plus borrowers do not need to be first-­time buyers.

Program Highlights

• Mortgage for the purchase of an Owner occupied, Primary Residences only
• Borrower(s) Income not to exceed $88,340
• Purchase Price limit not to exceed $353,360
• All homebuyers are required to complete a pre purchase homebuyer education course either online or in person through HUD-approved homebuyer education provider

Conforming – Fannie Mae HFA Preferred | 30-year fixed rate

• LTV’s 95.01% - 97% - Minimum 680 FICO
• LTV’s 95.0% or less – Minimum 640 FICO

FHA, VA or USDA mortgages | 30-year fixed rate

• Minimum 640 FICO score (660 for manufactured housing)

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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 Phoenix AZ area, we hope you will consider us.

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3 Things to Think About Before Going FSBO

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3 Things to Think About Before Going FSBO

Posted on May 15, 2015

Quick: Off the top of your head, what can a real estate agent do to sell a house that you can't do?

"Frankly, I don't think a Realtor® does much that I can't do myself," a New Jersey homeowner told CBS News. After all, real estate agents just stick a sign in the yard, hold an open house or two, and fill out a couple of papers, right? Since you, too, can perform these duties, why not sell the house yourself and keep the commission money?

This is a fallacy many Americans operate under when judging the job of a real estate agent. Keep in mind that lots of jobs look easy when you aren't the one performing them.

Before you decide to plunge head-on into the world of the For-Sale-By-Owner, here are there key points you may want to consider.

1. Getting the Price Right
When the National Association of Realtors® surveyed FSBOs about what challenges they faced when attempting to sell their homes without the aid of a real estate professional, 13 percent said that setting the right price was a key challenge.

What is the "right" price? A home should be priced at or very near its market value. Therein lies the challenge – how does a layperson determine a home's current market value? The calculations require access to recent sales in the area, information about those homes, and information about the current real estate market in general.

Without access to the Multiple Listing Service (MLS), it is nearly impossible for anyone to gather info on all recent home sales in a given area. Although many websites claim to have this information, they are relying on public records, and most of the time they don't have all of the information required to pinpoint market value.

Would you sell a used car without consulting the Kelley Blue Book, or something similar, to ascertain its worth? Without knowing the true market value of your home, setting a price for it is akin to throwing a dart – where it lands may or may not be the bulls-eye.

2. Getting the Word Out
One of the most important jobs of a listing agent is marketing the property. Once upon a time, all it took was an ad in the Sunday classifieds. Today, however, it requires a lot more work, and multiple marketing platforms – especially for homes with problems.

Homebuyers begin their search online, and that's where real estate agents shine in their marketing efforts. They employ multiple strategies across multiple platforms – something a homeowner with no real estate or marketing experience may find challenging.

3. Getting a Handle on the Paperwork
Understanding and completing paperwork is the one task of selling a home that stymied the largest number of FSBOs in the NAR survey. From the purchase agreement to how to deal with changes to disclosure requirements, the typical home sale requires a stack of legal contracts that few outside of the industry know anything about.

You will need to familiarize yourself with all contracts, reading and understanding every single line. Otherwise, when a buyer submits an offer to purchase, you may end up sitting there with a glazed look on your face and no idea how to decipher the pages in front of you.

Get more Real Estates tips at 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.

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The 6 Steps to Securing a Home Loan

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The 6 Steps to Securing a Home Loan

Posted on May 14, 2015

From the word "mortgage" to the methods used by lenders to determine how much to loan, the home loan process can be confusing to first timers. In fact, one third of the respondents to a 2011 Wall Street Journal survey of homebuyers said that the most difficult part of buying a home was understanding the loan process.

It can also be quite stressful, especially when you've got your eye on a cute Craftsman bungalow and are waiting on pins and needles to learn if you qualify to purchase it.

Let's take a look at the conventional home loan process, from start to finish. Here's a breakdown of the process in six steps to help you get a better understanding of it. (Please note that VA loans, FHA and USDA loans are a bit different.)

Step 1: Loan Application and Pre-Qualification
You've no doubt read and heard that you'll need to be pre-approved for a home loan before you start looking at homes for sale. Don't skip this step – it's probably the most critical one in the homebuying process.

A common question is: "How do I find a lender?" Start with your bank or credit union, especially if you have a business or personal relationship with the manager. If not, ask your real estate agent – he or she most likely knows of several that you can speak with and compare rates.

The first thing you'll do when you visit a lender is fill out a loan application. This is only an application; it doesn't obligate you to any particular loan or to use that lender.

You will be asked to provide the following information:

• Name and address
• Date of birth
• Social Security number
• Current and past employers
• Income
• List of assets
• List of debts

The loan officer will order your credit report and, along with the information in your application, it will help paint your financial picture and determine how much money you qualify to borrow.

Lenders use a debt-to-income ratio, or DTI, to make this assessment. You can calculate your DTI by adding up all your monthly debt payments and dividing them by your gross monthly income (your income before taxes).

This is a simplistic look at your DTI because lenders actually calculate what they call a "front-end ratio" and a "back-end ratio." The calculation above will help you determine your back-end ratio. To determine your front-end ratio, the lender will take your housing expenses and divide them by your monthly before-tax earnings, and multiply that figure by 100.

A rule of thumb is that lenders are satisfied with a front-end ratio that doesn't exceed 28 percent and a back-end ratio of 36 percent or lower – but it may vary according to the borrower's down payment, credit score and savings. At this point, the lender knows what size loan to offer you and you are now, hopefully, pre-qualified for a mortgage. Keep in mind: This is not a commitment from the lender as it's based purely on information in the loan application and your credit report.

Tip: Don't make any changes to your financial picture from this point until the close of escrow on your new home. Even what you may consider to be insignificant purchases can change your DTI ratio and possibly disqualify you for the loan.

You might also like to read:
How time buy a home with low down payment in Gilbert AZ

Step 2: Initial Underwriting
The loan agent will now collect documentation to prove all the information you stated on the loan application, and will create your file and submit it to the loan processor.

This person organizes all the documentation and sends it to the underwriter – the most important person in the process. The underwriter goes over all the paperwork with a fine-tooth comb, checking to ensure that guidelines are met. He or she will also make a list of additional documents you'll need to submit to complete your file.

If everything falls into place, you will be conditionally approved for the loan.

Step 3: Approval of the Property
Everything comes to a halt at this point, until you make an offer to purchase a home. If the offer is accepted, the wheels of the loan machine begin turning once again.

The lender needs to know all it can about this particular property, and will obtain most of this information from the title report. The report documents the findings of a search of the property's title and details info about the current title holder, if any liens are on the property and any irregularities in the chain of title. A clean title report allows the lender to safely attach a lien on the property, in order to use as collateral should you default on the loan.

The second report that the lender will order (and the buyer will pay for) is the appraisal. The appraisal determines current market value of the home so the lender can be assured it isn't lending more money than the home is worth.

Step 4: Final Approval
The title report, appraisal, and any documentation you've submitted after the initial underwriter examination now go back to the underwriter for final approval. The underwriter will either sign off on the loan or ask for more information. It's at this point that you'll run into trouble if you've made any recent large purchases or opened any new credit accounts.

Hopefully, you followed the advice here and the underwriter approves that the loan is "ready to fund."

Step 5: Loan Documents Sent to the Title Company
When your file is cleared to close, the funding department drafts the closing paperwork and sends it to the closing facilitator. Depending on where you live, this might be an escrow company, a real estate attorney or title company.

The closing facilitator packages up all the other closing documents, such as the deed of trust and HUD statement.

Step 6: Closing Time
At closing, you'll be presented with lots of paperwork to sign and a notary will notarize many of them. These will be sent back to your lender, who will then fund the loan and escrow will officially close.

Finally, grab those keys and move in!

Get more Real Estates tips at 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.

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Gilbert New Homes (New Build) for Sale
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Gilbert Just Reduced Price Homes for Sale
Gilbert AZ Homes for Sale Under $100,000
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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
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Tips for Conserving Water at Home

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Tips for Conserving Water at Home

Posted on May 13, 2015

Perhaps it's a little too easy to overlook the importance of water. It's simple, after all, to turn the tap and watch it flow. Consider, though, that only 1 percent of the Earth's water is useable. The rest is either salty or frozen. Not to mention the amount of energy used in acquiring, treating and transporting fresh water to consumers.

Saving water in and around your house battles high water bills while helping to save energy and conserve a precious resource.

Saving Water in the Bathroom
Turn off the water while you brush your teeth, shave and wash your hands. Work up the lather before turning on the water to rinse your hands. Use a glass of water to rinse your mouth. These habits can save gallons of water each day; the more people in your home, the greater the difference.

Take a shower instead of a bath. Better yet, time your shower to limit the water you use.

Place a large rock or a 2-liter bottle filled with water in your toilet's water tank. This displaces some of the water, forcing the toilet to use less water when flushing. Alternatively, replace an old toilet with a low-flush model, which uses about half the water. Feel adventurous? Try a composting toilet, which uses little to no water.

Switch showerheads. Older homes may have outdated showerheads, which deliver more than 2.5 gallons per minute (the maximum flow rate of modern shower heads). Opt for an even lower flow rate for greater water savings. Also, check if each faucet has a screw-on aerator attached to the spout to reduce water use. Low-flow aerators limit water flow to about 1 gallon per minute.

Using Less Water in the Kitchen and Laundry
Try implementing a few of these water-saving methods and, when it's time to replace your washing machine or dishwasher, purchase an Energy Star-approved energy and water-saving model.

Run the dishwasher only when it's full. Stack the items to ensure the machine operates efficiently.

Run full loads in the washing machine. Adjust the water level if you must run a smaller load. Also, avoid the permanent press cycle; the extra rinse cycle wastes water.

Use garbage disposal units sparingly. Try starting a compost pile with your food waste instead.

Avoid running the water while washing dishes. Fill a double basin with hot, soapy water on one side and clean hot water for rinsing on the other. If you have a single-basin sink, use a large bowl or pan for rinsing most items instead. Alternatively, stack them in a drain rack and spray to rinse all at once.

When rinsing vegetables, use a large bowl and then use the leftover water on your plants.

Keep a pitcher of cold drinking water in the refrigerator. This eliminates the need to run water until it's cold enough.

Conserving Water Outdoors
Sweep your driveway and sidewalk rather than washing it down with a water hose.

Instead of washing your car at home, take it to the car wash where the water is likely to be recycled.

Mow the lawn less often. Longer grass retains water better.

Water the grass and greenery only when absolutely necessary. Watering early in the morning and late at night, when it isn't windy or too hot, helps reduce evaporation. Deep soak the lawn rather than lightly watering for best results.

Mulch around plants, trees and shrubs. A 2- to 4-inch layer of mulch or compost helps repel pests, retains moisture and adds nutrients.

Cover the swimming pool or hot tub when it's not in use.

Install rain barrels. Even just one rain barrel, properly maintained, will collect a tremendous amount of water, which can be used for watering plants or even flushing toilets. As simple as most of the above items seem, implementing even half of them will drastically cut down your water usage.

Get more Green Living 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.

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Gilbert AZ Housing Market Update April 2015

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Gilbert AZ April 2015 Housing Market Update and Statistics

Gilbert AZ April 2015 Real Estate Housing Market Trends Highlight:

• Active Listing (Inventory) has Increased 6.4% from March 2015
• Average Sold Price has Decreased 2.0% from March 2015
• 80% of Single Family Homes sold are Traditional Sale
• Most Expensive House Sold in Gilbert AZ March 2015, sold at $945,000. click here to view

Here are Gilbert AZ Real Estate - Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Gilbert AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 15.0% increase in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 492 residential Single Family Detached Homes sold in April 2015 in Gilbert AZ compared to 428 in March 2015. This compares to 400 closed sales in March of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes for sale.

You might be interested:
How to buy a house in Phoenix AZ for low down payment?

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Gilbert AZ is $284,994. This Average Sold Price has decreased 2.0% from March 2015. This is because Gilbert most expensive home sold in March 2015 was sold at $1,115,000 compare to $945,000 in April 2015. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be high. This statistic is an indicator that buyers pay more for homes than they have in the past 12 months, as April 2014 average sold price was $276,975. Educated and savvy buyers understand that a competitive market gives them fewer options for home choices – even when inventory increases. Although this may vary from zipcode to zipcode and from price range to price range, buyers need to make sure they are fully informed regarding the specific market in which they have an interest. This will give them the best chance of being competitive when making an offer.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.

Selling Your Home in Gilbert AZ? Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Gilbert AZ Home Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market. You can view your house value instantly at www.GilbertAZHouseValue.com

Swee Ng, is a Gilbert AZ 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.

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Gilbert AZ Homes for Sale:
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Gilbert AZ Homes for Sale Under $100,000
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Gilbert AZ Luxury Homes for Sale Over $1,000,000

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What is Comparative Market Analysis (CMA)?

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What is Comparative Market Analysis (CMA)?

Posted on May 12, 2015

Selling a home is a bit more complicated than putting up a sign, setting a price and praying and hoping to get a buyer to show your home. Although it involves an element of suspense, and is not often a scientific certainty, it should not be a gamble either. There are proven ways to minimize the number of "Days on Market" (DOM) and maximize the selling price.

One of your best tools is a Comparative Market Analysis (CMA). When you first consider the possibility of selling your home, you will undoubtedly have some sense of its value, and at least a ballpark expectation of the price you can ask.

But a comprehensive examination of recent transactions, known as the CMA, will give you a graphic and honest appraisal of local conditions. Month-to-month comparison and previous year statistics for sales, price adjustments, pending sales and withdrawn listings provide insight into trends. Market conditions in Phoenix AZ vary from one month to the next and can change dramatically over the course of a year.

The CMA is used to help evaluate how your home will fare against the competition. It takes a look at both homes that are currently listed and those recently sold. The purpose is to find the highest price that will still make the home competitive on the open market.

Standard comparative market analysis reports contain the following data:

• Active Listings Active listings are homes currently on the market for sale. These listings matter only to the extent that they are your competition for buyers. They are not indicative of market value because sellers can ask whatever they want for their home. It doesn't mean any of the prices are realistic. The offered sales prices do not reflect market value until they are sold, and in buyer's markets, for example, most sell for a lot less.
• Pending Listings Pending sale homes are homes that are under contract. They have not yet closed, so they are not yet a comparable sale. Unless the listing agent is willing to share information about the pending sale -- and many are not -- you will not know the actual sold price until the transaction closes. However, pending sales do indicate the direction the market is moving. If your home is priced above the list price of these pending sales, you could face longer DOM (Days on Market).
• Sold Listings Normally homes that have closed within the past six months are your comparable sales. These are the sales an appraiser will use when appraising your home for the buyer, along with the pending sales (which will likely have closed by the time your home is sold). Keep in mind that every market are different, in a fast changing market such as in Phoenix AZ, past 3 months sales can be used as comparable.
• Off-Market / Withdrawn / Canceled / Expired Listings These are properties that were taken off the market for a variety of reasons. Usually the reason homes are removed from the market is because the prices were too high. The median prices of this group will almost always be higher than the median prices of comparable sales.

Analyze the CMA Facts
Comparable sales are those that most closely resemble your home. It is difficult to compare a tri-level home to a single-story home. Select the homes from this list that are mostly identical to your home in size, shape and condition, such as:

• Similar square footage Appraisers compare homes based on square footage. Larger square-foot homes are worth less per square foot than smaller square-foot homes. The variance among a group of median-priced homes ideally should not exceed more than 200 to 400 square feet, plus or minus.
• Similar age of construction Ideally, the age of the home -- the year it was built -- should be within a few years of other comparable sold homes.
• Similar amenities, upgrades and condition Appraisers will deduct value from your home if other homes have upgrades and yours does not. A home with a swimming pool will have a different value than a home without a pool. A completely remodeled move-in ready home is worth more than a fixer. Homes with one bath are worth less than homes with two or more baths.
• Location Everybody knows that real estate is valued on "location, location, location," but have you considered what that means? A home with a mountain view, for example, is worth more than a home facing a cement wall. Homes located on busy or main street are worth considerably less than homes on quiet streets. Compare your home to those in similar locations.

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.

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