Buying a Home May 13, 2024

Things to Avoid After Applying for a Mortgage

Getting approved for a mortgage is a big accomplishment for anyone. It means you’re ready to take on the responsibility of homeownership, but it’s important to remember that taking out a mortgage is not the end of the journey – it’s just the beginning. After you’ve been approved, you may be tempted to make big purchases or change jobs, but doing so could jeopardize your chances of closing on your new home. This blog post will discuss things to avoid after applying for a mortgage.

Do not change jobs! 

A lender’s favorite word is stability! Stability includes a consistent employment history, and a job change can often cause loan denial or, at the very least, a delay in processing. If you plan on making a job change, do it before you begin the mortgage application process or after you close. Remember that lenders generally require you to be at your job for at least two years to qualify for a loan.

Do not make any large purchases! 

A mortgage lender will pull your credit report at different stages of the loan process: when you first apply and before closing. Making large purchases between these stages could change your debt-to-income ratio and affect your ability to close the loan. So, no new cars or appliances until after you close your home!

Do not apply for new credit, and don’t close any credit accounts!

During the mortgage process, your credit score is subject to change. New credit applications can lower your score, and closing existing accounts can also negatively affect you. So again, no new cars or credit cards until after you’ve closed on your home!

Do not change your bank account!

Lenders like to see stability in your bank account, so resist the urge to close or open any new accounts while you go through the mortgage process.

Do not make large deposits!

Depositing a large sum of money into your bank account can cause concern for lenders. If you have a windfall, such as an inheritance or a tax refund, speak to your lender beforehand to find the best way to handle it.

Do not co-sign any loans!

Co-signing a loan for someone else can affect your debt-to-income ratio and may cause problems with your mortgage loan. So, if possible, avoid co-signing any loans while you’re in the middle of the home loan process.

In short, the best thing you can do after applying for a mortgage is to stay the course! Keep up with your payments, don’t make large purchases or changes, and avoid opening or closing accounts. Doing so will help ensure a smooth and successful mortgage process. Have real estate questions? Give me a call, and I’d love to help!

928-277-6404

Explore Neighborhoods February 1, 2024

Horse Properties in Prescott

Are you looking for a place to live with your horses in Prescott, Arizona? You are in luck; there are numerous horse-friendly communities in our beautiful area. After you look at the list below, give me a call, I would love to help you find a home for you and your horse. Mary Tarrant (928) 277-6404

  • Granite Oaks: Granite Oaks in Prescott, Arizona, is located at the base of the Granite Mountain in the Williamson Valley corridor, near Williamson Valley Road and Bard Ranch Road. The subdivision of upscale custom homes borders the state land and has access to acres and acres of endless riding and hiking trails. The home sites range in size from 1 to 3 acres offering lots of privacy and horse privileges. Being able to enjoy country living while only a few miles from downtown Prescott is one of many reasons people fall in love with Granite Oaks.
  • American Ranch: American Ranch is a prestigious community located just a few miles north of Prescott in the Williamson Valley corridor. This popular World Class Master Planned Equestrian Community neighbors the Prescott National Forest. There are approximately 240 homesites in American Ranch. Homes are custom built, taking advantage of the breathtaking mountain views, sitting on 1 to 5-acre parcels. Residents enjoy a $3m Equestrian Center, fitness/exercise center, outdoor heated pool, spa, tennis, basketball, and a catch and release bass fishing lake!
  • Crossroads Ranch: Crossroads Ranch, located approximately 20 miles north of Prescott, Arizona, along popular Williamson Valley Road, is surrounded by beauty. Crossroads Ranch is a 5,000-acre Equestrian Community with home sites ranging from 4 acres to over 100 acres. Wildlife love this prestigious community. Antelope, javelina, deer, elk, and bobcats enjoy the natural landscape of these rolling hills covered with pinon and juniper vegetation. This elite community offers country living with all of the conveniences of modern living, including underground utilities and paved streets. The homes in Crossroads Ranch range from modern ranch homes with fertile pastures to incredible gated Custom Estates. There are many home sites still available to build your dream home.
  • Williamson Valley Ranch: Williamson Valley Ranch in Prescott, Arizona, is a prestigious, private neighborhood conveniently located just ten short miles north of the city of Prescott. This equestrian subdivision features beautiful, unique custom homes. Many homes use total solar energy; some are contemporary in design, while others are classic ranch style. Homes range in size from 1100 sq ft on up to over 6000 square feet, with lots ranging in size from 3 to 8 acres. There is plenty of room for the kids, toys, and horses! In Williamson Valley Ranch, you’ll enjoy country living at its finest complete with paved roads, underground utilities, and riding and hiking trails nearby.
  • Coyote Springs Corridor: The Coyote Springs Corridor is the section on the north side of 89A. This is a rural area, with the average lot ranging in size from 2 acres up to 10 acres. Homes in the Coyote Springs Corridor are within minutes of schools, shopping, the Prescott Valley Event Center, and the new Yavapai Regional Medical Center East Campus. Communities included: Coyote Springs, Mingus Meadows, Prescott Prairie, Antelope Meadows, and Poquito Valley.
  • Prescott Ridge: One of the premier locations in the Prescott area is the gated community of Prescott Ridge. This beautiful development, surrounded by spectacular daytime vistas and nighttime starlit skies, will take your breath away. Featuring 10 to 54-acre parcels, which have a myriad of vegetation, including juniper trees & pinon pines, you can choose between open spaces of land for sale to secluded or private lots. Prescott Ridge is a fantastic location for horse owners or someone searching for that little piece of paradise for their new home. This upscale gated community also offers underground utilities & paved roads, value-protecting CC&R’s, and horse privileges.
Explore Neighborhoods January 1, 2024

Live in Luxury in Prescott Ridge

Enjoy Rural Luxury Living

One of the premier locations in the Prescott area is the gated community of Prescott Ridge. This beautiful development features parcels that enjoy mild seasons, rolling hills, spectacular sunsets, abundant wildlife, and 10-acre minimum home sites. The land has various vegetation, including juniper trees and pinon pines.

Prescott Ridge is a fantastic location for horse owners or someone who is searching for that little piece of paradise for their new home. This upscale gated community also offers underground utilities and paved roads, value protecting CC&R’s, and horse privileges (as well as plenty of room to ride).

Located on the western slope of Mingus Mountain, Prescott Ridge is just minutes from shopping and entertainment. The luxurious subdivision of Prescott Ridge offers excellent site-built custom homes. Many of the homes in this prestigious community are individually gated, allowing extra security for your home and RV and or trailer if you decide to park it on your property. Enjoy stunning views of Mingus Mountain, Bradshaw Mountain, and Granite Mountain from inside your home or from the comfort of a covered patio.

Prescott Ridge is only a short 12-minute drive to Prescott Valley, Arizona, minutes from schools, shopping, the Prescott Valley Event Center, and the new Yavapai Regional Medical Center East Campus.

See Homes for Sale in Prescott Ridge

Prescott Valley December 1, 2023

Why We LOVE Prescott Valley

Prescott Valley is growing!  As of the last count, Prescott Valley, Arizona, has grown to a population of approximately 42,000. The growing town sits at an elevation of 5,000 feet and is located 85 miles north of Phoenix and 10 minutes from the area lakes, fishing, hiking and camping in the Prescott National Forest. Prescott Valley has a large retail center, an indoor Event Center, and Yavapai Regional Medical Center Hospital. Many retirees live in Prescott Valley due to relatively inexpensive housing and the mild climate.

According to Bestplaces.net, the median age of the population of Prescott Valley is 44 years old with a median income of $42,973.  One of the reasons many families and retirees select Prescott Valley as their home, is the mild climate.  Bestplaces.net gives Prescott Valley a comfort index of 8 out of 10.  You can see from the average temperatures and rainfall in the data below why Prescott Valley received such a high comfort rating.

Prescott Valley Housing

The growing area of Prescott Valley offers a variety of housing options.  There are several luxury communities such as Prescott Ridge and Legend Hills, (** link to these**) as well as numerous subdivisions and neighborhoods with a variety of amenities.  Below is information on a few of the subdivisions in Prescott Valley.

Pronghorn Ranch

Pronghorn Ranch in Prescott Valley, Arizona, offers paved streets, winding sidewalks, city water and sewer, and underground utilities.  This popular community offers homes ranging from 1400 square feet to over 3000 square feet. Residents enjoy a swimming pool, hot tub, patio with a Bar-B-Q, tennis/basketball court, fitness center, bocci ball, meeting rooms, a grand hall, walking trails and area parks! Pronghorn Ranch is a community for everyone. (Homes for Sale in Pronghorn Ranch)

Granville

Located at the trailhead of the Iron King Trail is Granville, a booming subdivision in Prescott Valley, Arizona.  Granville offers the lifestyle you are looking for with prices you can afford.  Homes range from 1,100 sq. ft. up to 3,000+ sq. ft. Offering an extensive list of community amenities including a fabulous clubhouse, full gym, meeting rooms (at two separate facilities), parks, trails, tennis, basketball, and pool and spa.  Granville is on Glassford Hill Road, just a mile from schools, the Yavapai Regional Medical Center East Campus, shopping, and dining. (Homes for Sale in Granville)

StoneRidge

StoneRidge in Prescott Valley, Arizona, offers Townhomes, Patio Homes, Spec Homes, and Custom Homes and Lots.  This Golf Course Community also offers Two Clubhouses (Golf and Fitness), Meeting Rooms, Gym, Parks, Playground, Hiking, Walking Trails, Tennis, Basketball, Volleyball, Sand Volleyball, Horseshoe Pits, Locker Rooms, Indoor & Outdoor Pools and Indoor Spa. With all of those amenities, it isn’t a mystery why families and retirees love to call Stoneridge home. (Homes for Sale in StoneRidge)

Apartments

Prescott Valley offers several apartment options as well.  Everything from low-income to luxury apartments.  In 2019, luxury apartments opened in the center of Prescott Valley near the Entertainment District.  The Homestead Talking Glass apartments are located on Florentine by the Event Center.

The Terraces at Glassford Hill and Tapestry at Granville are also conveniently located near the variety of amenities that Prescott Valley offers.

We have been busy actively selling homes in the Prescott Valley area.  If you would like more information on homes for sale in the Prescott and Prescott Valley area, or see what the market value of your home is, give me a call, I would love to chat with you. Contact me at: 928-277-6404.

Homeownership November 1, 2023

Maintaining the Air Quality in Your Home

Maintaining indoor air quality is an extremely important, but often overlooked, component of living happily in your home. It’s an invisible problem, but the costs can really add up— from high energy bills to unpleasant health issues.

Here are tips to improve the indoor air quality of your home:

  • Venting: Many homes have become so energy efficient that they’re also good at trapping dust and other pollutants. Appropriate ventilation is an important aspect of indoor air quality.  Getting airflow through your house will remove stagnant air, this can be as simple as opening a window. Rooms to beware of include: venting bathrooms, kitchens, and venting fireplaces directly outside.
  • Alarms: Alarms are also a useful way to keep an eye on what you’re breathing. Smoke alarms are a must for home safety, but carbon monoxide alarms are also key to keeping a silent killer at bay. Finally, periodic radon testing is a good idea. Radon, which a radioactive gas, is odorless, colorless, and tasteless. It is a known contributor to lung cancer. The only way you can only know how much is in your home is by preforming a test.
  • Replacing Air Filters: Of course, one of the most neglected home maintenance chores is regular replacement of air filters. This is an easy fix, changing the filters is typically among the easiest tasks a homeowner can do. The simple act of replacing filters increases HVAC efficiency, extends the life of your heating and cooling system, and also lowers energy bills.
  • Air Purifier: If you are susceptible to allergies from dust or even your family pet, an air purifier will help. A dehumidifier should also be considered in damp areas, such as a basement. This will prevent mold growth.
  • Keeping your Flooring Clean: Cleaning your flooring may seem simple, however, it will greatly improve your air quality. Use a vacuum with a HEPA filter, vacuum both carpets and area rugs once or twice a week. This will eliminate allergens like pollen, pet dander, and dust mites. Keep the dust out by putting large floor mats at every door.  This will reduce the pesticides, pollutants, and dirt that gets tracked into your home.
  • Clean Bedding: Bedding, drapes, couches, etc., will attract dust and allergens. Regular cleanings will increase your air quality.

It’s also vital to try and store industrial chemicals such as pesticides, paints, and harsh cleaners outside of the habitable areas of the home.

If you’d like to breathe a little easier in your home, follow up with these minor home maintenance tasks and inexpensive tools. High air quality is also an excellent selling quality for you home!

If you’re thinking about listing soon, get in touch with me today: 928-277-6404.

Buying a Home October 1, 2023

What’s a Walkability Score?

One of the attractive qualities of living in an area like Prescott, Arizona, is the luxury of living close enough to have the ability to walk to the numerous venues and shops located in the popular and beautiful downtown.

But how do you know if the house you are looking at is close enough to walk to nearby attractions?  Are there busy roads to make this an option?  What about biking?  Is the potential house a good candidate for commuting with your bike?

Fortunately, there is a free service that is incredibly helpful in answering these questions.  It is a website that calculates the Walkability Score of a property.

Walk Score is a company which “analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Amenities within a 5 minute walk (.25 miles) are given maximum points. A decay function is used to give points to more distant amenities, with no points given after a 30 minute walk.”

Additionally, Walk Score looks at pedestrian friendliness, a component which takes into account population density, block length, and intersection density.

Rankings are based on a 0 – 100 scale. Here’s how the scores translate to an area’s walkability:

  • 90 – 100: Walker’s Paradise. Daily errands do not require a car.
  • 70 – 89: Very Walkable. Most errands can be accomplished on foot.
  • 50 – 69: Somewhat Walkable. Some errands can be accomplished on foot.
  • 25 – 49: Car-Dependent. Most errands require a car.
  • 0 – 24: Car-Dependent. Almost all errands require a car.

In addition to a Walkability Score, Walk Score also evaluates for Transit Score (how well a location is served by public transit) and Bike Score (whether an area is good for biking).

All three of these scores can help you determine your personal values when you’re buying a home. They can also be useful to profile the kind of buyer who might be interested in a home you’re selling. It’s important to understand that a high or low walkability score is not necessarily bad. It all depends on personal values. (Someone who wouldn’t walk to errands anyway might find themselves bothered by the proximity to a highly-trafficked commercial businesses, for example.)

How to Use the Service

  1. Simply enter an address
  2. That’s it!

What you will get are reports of the pros and cons of walking and biking from that address to nearby shops and attractions.  The service also supplies a map of the area that was analyzed.

If you’re curious about your own home’s walkability score, or you’d like to learn about the most and least walkable neighborhoods in a given city, you can search for addresses on the Walk Score website at http://www.walkscore.com/.

Want to see a walkability score in action? I’d be happy to show you local neighborhoods! Contact me at 928-277-6404.

Homeownership September 1, 2023

How Much Equity Do You Have in Your Home?

The dream of home ownership is about more than just a stable place to live, exempt from the whims and decisions of landlords. For many, home ownership is a piece of the wealth building picture, essential to a future retirement or financial independence. The idea is pretty basic: You purchase a home and pay it down while hoping the value of the home increases over time. Generally speaking, this is what happens over a long enough period of time. As you go, you build what’s called “equity.”

What is Equity

Equity is defined as “the market value of a homeowner’s unencumbered interest in their real property—that is, the sum of the home’s fair market value and the outstanding balance of all liens on the property.” If you were to sell your home and pay off the balance of the mortgage (and any other debts, such as home equity credit lines or liens), the cash you would have leftover is your equity. Your “equity position” changes over time due to a variety of factors.

As you’ve probably noted, the biggest variable in your home equity position is the home’s true market value. A variety of factors can influence your home’s value, including: Market demand for homes in your area, local amenities, schools, your home’s particular features, upgrades you’ve made, condition issues, plus quite a bit more. So how can you tell your equity position?

First, you need to know what you owe on your home. This is as simple as checking your mortgage statement to see what your principle balance is on the loan. This number can differ slightly from your actual payoff amount due to closing dates, interest, and other issues determined during the sale, but generally speaking, your principle balance is the number you need to know. If you have any other debt on the home, you need to add the value of this debt to the principle balance. This, for example, might include credit lines, liens, or second mortgages.

Home Value

Next, you need to know the value of your home. While there are sites such as Zillow and Trulia out there which will tell you what your home’s value is, these “automated valuation models” are generally not very accurate when it comes to your home’s value, as they exclude many crucial factors. Often, they come in quite a bit higher. They can, however, give you an idea of general changing trends in your market over time.

Hiring an appraiser is one way to determine your home’s value from a more bank-like perspective. While an actual sale may be above the appraisal, this thorough, conservative option is a good way to go. The downside? You may have to pay up to $500 for the appraisal.

On-line Evaluation

We have made it really easy for you to determine the value of your home.  Simply enter your address on this page on our website and it will give you a list of homes that have sold near you, as well as a personalized home valuation.  This page also gives you a summary of the housing market in your area.  (Wow, I love technology!)

Knowing the correct value of your home is crucial when it comes to selling your home.  Having a home priced correctly is one of the number one reasons homes sell fast.  On the flipside, price a home too high, it can cause the home to sit on the market too long.  The right price is vital.  Get in touch today if you want to learn more at 928-277-6404.

Homeownership August 1, 2023

How to Make Your Home Baby-Friendly

You may not have kids right now, but chances are you may be entertaining guests one day who do. You can put your guests at ease and do your best to protect their little ones from harm by investing in some modest pre-visit baby proofing. Here are some sound strategies to make their visit low-stress and safe:

Mind the Power and Appliances:

Outlets are enemy #1. Baby fingers are like magnets for electricity, so splurge on some plastic outlet covers which fit snugly into those empty sockets. If you have any multi-socket power strips around, be sure to cover those as well (or elevate them out of harm’s reach). Depending on the age of your youngest visitors, some may be able to reach knobs and buttons on appliances like your stove. Exploring hands can accidentally turn on the gas, so if you think your kitchen will be vulnerable, invest around $10 on stove knob covers.

Make Some Rooms Off-Limits:

It may not be practical to baby proof every inch of your house, so make certain zones baby-free by using gates. Sturdy, simple, pressure-mounted gates will protect certain passages and prevent you from making any permanent holes in your wall. Alternately, use door knob covers to make even unlocked rooms less likely to be prone to an infant invasion.

Fight Falling Objects:

Babies are all about testing gravity, and as they try to bring themselves upright, they’re liable to tug on anything within arm’s reach. This might include your entertainment center, bookshelf, floor lamps, or other furniture. Are there any precarious pieces which might tumble down and seriously injure a child? Consider pieces on top of shelves (like decorative glassware) which could be shaken down through modest force.

Curtail the Cords:

Power cords and curtain (or blind) cords can cause falls, entanglement, or even strangulation. Tie these up out of the way or too high for a baby to reach from the floor.

Get Down and Look Around:

A baby will put anything in its mouth. That will include choking hazards, dropped medications, or stray chemicals such as rat poison or cleaners. Shift your perspective to the floor and look for anything suspicious.

Looking at things from a child’s perspective is key. If you have magnets on your refrigerator, move them up out of arms reach or take them off your fridge and tuck them away. This is because little kids may stick them in their mouth, which could cause a choking hazard. Also consider putting bumpers on sharp furniture edges, as toddlers are still figuring out balance and will stumble easier. In the bathroom, install toilet locks to keep the toilet lid closed so that there is no chance for kids to fall head first in when they are being curious.

Some homes are more kid-friendly than others. If you’re looking for a great home for little ones, I can help you find one today! Contact me at 928-277-6404.

Selling July 1, 2023

Don’t Sell Until You’re Ready!

I truly love being a realtor.  It is a great opportunity to earn a living while walking along side someone during an exciting time in their life.  My favorite is selling homes. It’s a privilege and an honor to be a part of the process. I get great satisfaction helping people move on to the next phase of their life, whether it’s upsizing, downsizing, or simply relocating to a new neighborhood.

One challenging situation, is a home seller who is not really ready to sell.  They may think they are ready . . . but in the end there are several factors holding them back.

If you’re thinking about selling your home, don’t enter into the process lightly. It’s a big deal. I am not going to sugar coat it, there is some stress involved in selling a home, but there is a great opportunity for joy as well. There’s a big investment at stake. This, along with a lot of other reasons large and small, is why you want to be 100% sure you’re ready to sell your home. If you think you’re ready to sell, but it turns out you’re not, you waste a lot of time and energy (and sometimes money).

So how do you know if you’re really ready to sell your home?

  1. You’re fine with the process.

You must have no problem with the idea of a stranger poking around your house, talking about renovating it, or treating it like a used car.  It is natural to have some of these emotions. If you’ve lived in your house a long time, it’s natural to have emotional attachments. But, if the process of selling the house makes you feel overly protective or defensive, you may not be ready.

  1. You are flexible on the right price.

Motivated sellers understand selling a home involves negotiation and competitive market pricing. Understandably, personal budgets are a necessary part of life.  But just as a daily household budget needs to be flexible, so does the expectations of a home sale.  If you have a number “you must get” in order to sell, then you might want to think again. Also, if all of the agents who price your home come back too low for your standards, take a breather and ask yourself if you are ready to proceed.

  1. You know where you’re going next.

Prepared sellers have plans, even if those plans aren’t 100% firm. They’re anticipating the move and they are probably even shopping for houses, if only casually at the moment. If you can’t clearly answer the question, “Where would you like to live after you sell?” then you’re not quite there yet.

If you’re unsure on any of these, take a step back and consider how you feel. While some markets favor sellers more than others, a home can sell in any market for the right price. Don’t jump into something before you’re ready.

However, when you’re ready, I’d be happy to help. Contact me when the time is right at 928-277-6404.