Kristin Graziano Group

Park Scottsdale Experts

Saving with a Budget

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Now more than ever people are looking to save money. Whether it’s to create a nest savings, purchase a home, new car, college or just to save some dough. We collected some helpful information and included a free printable budget worksheet to help you find your way in the savings game.

Ways to get started with a budget:

  1. Look at your spending – you have to know what you spend money on and how much in order to figure out what in your spending is NEEDED and WANTS you have in your budget. Sometimes wants don’t have a place in a budget until you have established a stable savings.
  2. Budget what you will spend – once you know where your money is going, you can give allowances to certain things that like in the first step are NEEDS vs. WANTS.
  3. Create savings goals – be realistic, if you can afford to save $20 a week, then it’s $20 a week. If you can do $5 do $5. Every little bit will add up over time, this is important step – paying yourself first means you are paying your savings something so the financial burdens are less of financial burdens in the future. A little can go a long way and it takes time to build up a solid savings.
  4. Write it down – use a budget worksheet like this one from Savings Dollars & Sense or a spreadsheet of your own to track and hold your spending accountable. Update it often and stay focused with your eye on the prize. Whether you want to save $1,000, or $100 you need a plan.

 

5 Tips to Consider in a Real Estate Transaction

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The Kristin Graziano Group is your go-to source of knowledge for all real estate matters! Check out our downloadable English or Spanish versions of 5 Valuable Things Buyers and Sellers Need to Know About a Transaction, like crafting a smart offer or staging the home for showings. This is a very practical piece to demystify the real estate process and help those who were hesitant to jump in feel more comfortable. Especially in today’s market.

This home is a great value for the market and with so many homes selling quickly it’s a rare opportunity. We have lots of homes like this one and we are ready to talk with you about your goals. Call us today at 480-229-6569.

Frequently Asked Questions When Considering Buying a Home

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Woman accountant or bank worker uses calculator in the office to calculate house loan credit bureaucracy.

There are many unique factors when you make a decision to purchase a new home. It all is unique to you and we are here to help guide you in the process. Never hesitate to call us and talk us through your plan we may be able to help and share resources and when you know it’s time, you will know it’s time. Check out some frequently asked questions from previous clients.

1. Should I buy instead of rent?

The benefits of buying a house rather than renting can be:

  • Tax breaks
  • Financial gains
  • Appreciation in value
  • Equity
  • Freedom
  • Security
  • A sense of pride

2. Am I ready to buy?

Ask yourself the following questions when considering whether you’re ready to buy:

  • Do I have a steady job?
  • Have I been steadily employed for the last two to three years?
  • Is my current income reliable for the foreseeable future?
  • Do I have a positive bill-paying history?
  • Do I have few outstanding long-term debts, like car payments?
  • Have I saved for a down payment?
  • Can I afford to pay a mortgage, taxes, utilities, and insurance?

3. Does my credit score impact my ability to buy?

A credit score numerically summarizes an individual’s credit history and gives a snapshot of their financial standing to a lender. Mortgage lenders use the score to decide who receives loans and at what interest rate. The higher the score means the better the chance of getting a loan with an attractive interest rate.

If your score is low, it is not impossible to get a loan but it will take longer. These three different companies keep credit histories: Equifax, TransUnion, and Experian. Before applying for a loan, get reports from all three companies. Fix any errors you might see in order to improve your score and put your best foot forward with lenders.

4. How much do I need for a down payment?

This all depends on the home you are buying, if you have a home to sell and a few other factors that are unique to your situation. Lenders expect between 5% to 20% for a down payment. It varies depending on the loan type, and length of the loan. Make a budget, set a goal, and stick with the plan. Saving and sacrificing is how most people come up with their first down payment.

5. What are the homeowner’s tax benefits?

  • Typical deductions are mortgage interest and real estate taxes.
  • In most cases, loan discount points and origination fees are deductible.
  • Read Publication 530 titled Tax Information for Homeowners found on the IRS website.
  • There are capital gains benefits, but don’t worry about that until you buy your first home.

6. What is the difference between pre-qualified and pre-approved?

Pre-qualification: Getting pre-qualified for a mortgage gives first-time homebuyers an indication of how much they “might” qualify to borrow. This mortgage amount is not guaranteed because no information has yet been verified. A letter from the lender may only state that you are “likely” to be approved for a mortgage.

Pre-approved: Better yet is getting pre-approved for a mortgage, which is based on a real credit score, and it also puts real estate agents and home sellers at ease. The buyer has more to offer when making a deal and in a competitive market this can be a definite plus.

7. How do I get the best mortgage?

It is time consuming to learn about the various rates and terms of mortgages. Once you find your dream home, there is not always adequate enough time to do your research. So do your homework prior to searching. We work have a network of lenders that have different options depending on your situation. 

Call us at (480) 229-6569 anytime to discuss your needs.

Is buying a fixer upper more cost effective than buying a move-in ready home?

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Many people buy fixer-upper homes because they think it will save them money in the long run—but is that actually true?

According to recent data, not necessarily.

According to a recent survey from remodeling resource Porch, the majority of people who bought fixer-uppers did so in an effort to save money on the purchase price—63 percent of millennial buyers, 61 percent of Gen X buyers, and 59 percent of buyers from the baby boomer generation. But nearly half (44 percent) went over their budget during the renovation process—and ultimately, there was little difference between the average cost of what buyers paid for a move-in ready home ($250,000) and the average cost of renovating a fixer-upper ($247,000).

So, what does that mean for you? If you enjoy renovating homes, then purchasing a fixer-upper can be a fulfilling experience—but if you’re just looking to save money, you’re likely going to be disappointed.

If you are ready to buy, we are always open to show you properties. Call us today and let’s get you going in the right direction to a new home (480) 229-6569.

Want to Sell Your Home Faster? Schedule a Home Inspection Before You List

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When you put your home on the market, you want it to sell quickly—and profitably. And one of the best tricks you can use to sell your home faster and for a higher price? Scheduling a home inspection before you list.

A recent article on Realtor.com broke down the benefits of having your home inspected before you start showing it to potential buyers. Scheduling a home inspection before you put your home on the market gives you a heads-up on any necessary repairs that could lower your home’s selling price (or kill the sale entirely). Knowing what’s wrong with your home gives you extra time to find the right team and schedule repairs (instead of scrambling at the last minute to find anyone who can take the job before you close). And once you have those fixed, it can help you fetch a higher asking price and increase your profit from your home sale.

The Takeaway:

If you’re thinking about selling your home, do yourself a favor and schedule an inspection before you list. Not only will this give you key insights into any necessary repairs, but it can also help you sell your home faster (and for a higher price) once you do put it on the market.

Another Inventory Shortage May Be On The Horizon

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It was just a few years ago that the US was in the midst of the worst inventory shortage in history, creating fierce competition for available properties—and driving up prices in the process. And while the market has become more buyer friendly in recent months, some experts predict another inventory shortage may be on the horizon.

According to a recent article from realtor.com, new home listings are either declining or staying the same in markets across the country. If that trend continues, it could mean another historic inventory shortage. “It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen,” said Danielle Hale, realtor.com’s chief economist, in the article. “If the trend we’re seeing continues, overall inventory could near record lows by early next year. So far there’s been a lackluster response to low mortgage rates, but if they do spark fresh buyer interest later in the year, U.S. inventory could set new record lows.”

Our Takeaway:

Today, there isn’t the fierce competition for property that the market saw a few years ago—but that could change with another inventory shortage. So if you’ve been thinking about buying a home, now’s the time to make a move.

What Our Clients Say

Highly Likely To Recommend   

Kristin was phenomenal to work with to sell my home. She was communicative, knowledgeable, and understood the market. We were able to sell my house above what I initially thought it would go for, in a shorter time frame than I expected, and the process was about as painless as possible. I will absolutely be recommending her to anyone I know moving to Phoenix/Scottsdale area.

Remarkably Responsive   

Kristin and her team sold my home in Park Scottsdale in the very short time and helped us find a new home. Kristin and her team was remarkably responsive, attentive, and supportive. She is so knowledgeable and experienced in providing realistic information which helped us to plan and prepare to sell our home. Aaron was very professional and looking in our interests as a customer. He always responded to our texts and phone calls promptly and answered to our questions and concerns. My husband and I highly recommend Kristen and her amazing team. Thank you Kristen and Aaron!

Fabulous Team That Knows Park Scottsdale   

Kristin and her fabulous team sold my home in Park Scottsdale in the exact time frame I had hoped for. From start to finish, Kristin was remarkably responsive, attentive, and supportive. She is so knowledgeable and experienced!! She provided realistic information which helped me to plan and prepare to sell my home. I am extremely happy to have chosen KGG and couldn't be more pleased and satisfied with the results.

AMAZING!   

Kristin and her team are amazing! They did a great marketing and negotiating the sale of our home. I highly recommend using Kristin when you sell your home, I would recommend her to anyone.

Kerri Was What We Needed   

Kerri is an excellent agent who is responsive, experienced & kind. She made the home buying process very easy. She is an expert in the Scottsdale area & works with a team therefore she or team member was quickly available to help us with whatever we needed.