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Great vacation home opportunity in the Valley of the Sun!! September 22, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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Great Vacation Property Joint Ownership opportunity in Ahwatukee AZ.

FREE Joint Ownership Document Package with a property sale through us, a $999 Value.

Asking $165,000

Built: 1983/ 3 Bedrooms/ 2 Bathrooms/ 1,818 SQFT Updated Kitchen, NEW Whirlpool Stainless steel appliances, NEW Carpet, NEW tile, NEW landscaping, NEW paint, NEW fixtures and no popcorn ceilings. 2 car garage, large backyard, view fence, awesome location!

Don’t miss this little gem. Low HOA fees. Award winning Kyrene school district. Close to dining, shopping, freeway access. Just a short hop to central Phoenix.

With furniture this vacation home is Turn Key ready to occupy during a the cold Canadian and US winters and would be an investment of approximately $200,000 OR with 4 joint owners only $50,000 a piece to break free from winter! 🙂

Contact us to learn more about this opportunity in the Valley of the Sun!

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Using some common sense when traveling back and forth between your properties July 10, 2010

Posted by mkuhbock in Arizona Vacation Property.
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Now that you have purchased your dream recreation or vacation property there are a couple of simple things to keep in mind but are far too often overlooked.

When you are not using your vacation property:

  1. Make sure the blinds are closed, and that the instructions to the cleaners are to close the blinds upon finishing their work. Never assume they will…
  2. Unplug small appliances (just in case)
  3. Unplug your router so that it cannot be hacked into
  4. Adjust the thermostats so that the pipes don’t freeze in the winter or things don’t get too hot in the summer and everything starts melting. I have seen candles and paint do strange things at 100+ degrees F.
  5. Add some vegetable oil to the toilet bowls, slows down the evaporation.
  6. In dry weather climates put out a pail of water, it helps, but I am not certain what for other than keeping the humidity up a little which probably helps on wear and tear of the house and furniture.
  7. Unplug your TV’s, some of the models still draw power and have a small fan running full time.
  8. Unplug your cable box, it is always drawing power regardless if it is on or not.
  9. Get some timers for your inside lights and/or radio or some light sensitive night lights. I had a neighbor call me one night as he though there was someone in our vacation home and wanted to make sure one of the owners wasn’t there prior to calling the police, he is a great guy, and he soon learned that it was our light sensitive night lights.
  10. Turn down your hot water heater.
  11. Buy and install some security stickers.
  12. Get someone to pick up your mail on a weekly or once every 2 weeks.
  13. Lock everything including your electrical panel and exterior water if you can, believe it or not people will steal your water.
  14. Check with your insurance agent about your policy and how long the property can be vacant without some dumb ass clause kicking in that stops your coverage.
  15. See if a neighbor will use your driveway for one of their cars.
  16. Don’t advertise to the world that you are not at one of your homes, somethings should just not be posted on Facebook, MySpace or LinkedIn. You wouldn’t post your credit card number as you never know who will hack into one of your social website accounts and are just waiting for you to announce where you will not be for an extended time period.
  17. Make sure you either throw out anything that might go bad, that includes dry goods in the pantry and for that matter use sealed bags to store everything. This keeps the ants and cockroaches out of your house and lives.
  18. Hire a landscaping company, management company and or a security company when needed.
  19. Hire a pest control company or make sure you give the entire inside and outside facing entries to your home a good spray with a pest control product. We use Orthomax which runs about $14 and lasts 6 months. I spray the entire frame of the doors and garage door plus the patio doors and main floor windows inside and out. I also spray any vents, water and electrical outlets inside and out of any exterior wall plus all the floor areas around the kitchen and bathrooms where pipes and drains allow access. We never have had a bug problem since we started doing this. It only takes 15 minutes for a 3000 Sq Ft house. Supposedly the product is good for 12 months and will kill anything that crosses the barrier and is safe for mammals once it drys.
  20. Hire someone to go through the house every couple of weeks (typically when they pick up mail) and flush toilets to refill them if needed. It helps the place look less abandoned or vacant.

There are a few other things that I am probably forgetting and please comment if you think of any of those points that I have missed.

The above should also be done for your principal residence when you are away on an extended vacation also.

Hope everyone is enjoying the heat of the summer! 🙂

Cheers,

Michael

Check out my video and slide presentation, An Introduction to Joint Ownership, at www.azjointownership.com

Video introduction to vacation home joint ownership May 4, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News, Uncategorized.
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Here is a quick introduction video and a PowerPoint on what vacation home joint ownership is and some of the perils and pitfalls you need to be aware of.

Enjoy but unfortunately I have a face for radio….. 🙂

Who can benefit from Real Estate Joint Ownership? March 19, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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Hello real estate investors and professionals

First and foremost the Joint Ownership model allows the average family or investor the opportunity to participate in purchasing a vacation or investment property.   www.azjointownership.com

Families can now benefit from the depressed real estate prices in the US and sunbelt locations such as Arizona, Florida, Nevada, California and other user friendly warm weather states.

Predictions 2010: Real Estate

Other obvious people or groups that can benefit from working with a Joint Owner model are parties attached to the vacation home property market, this would include; real estate agents, teams and brokerages, individuals, lenders, developers, and investors to name a few.

As an example, the net worth of a median Canadian household in 2005 was $148,400 with only 3% or 415,000 of Canada’s 13 million households could be classified as high net worth in 2005.

Therefore 12,500,000 potential vacation home purchasers or the 95% of the possible vacation home buyer market cannot purchase a vacation or second property by themselves! That is just the Canadian vacation home buyer market!

AZ Joint Ownership, LLC, works with all the above interested parties enabling purchasers to leverage their capital and also creating the opportunity for the real estate service industry to increase their sales by providing Joint Ownership packages, mentoring and consulting for their clients.

We have developed an in-depth Joint Ownership investment and acquisition model that allows prospective buyers to finally move forward on their desire to buy an investment or vacation home while the current real estate market opportunity exists.

What is vacation home & real estate joint ownership?

Joint ownership is a partnership in the ownership of (Title To & Equity In) a house. 
This is NOT time share or fractional ownership……

Typically the ownership is split between multiple vacation home investors, with the each investor/partner having equal shares or some combination of interest in the real estate investment.

As with other shared-equity plans, the idea behind vacation home joint ownership is that it is a way for people to own vacation or investment real estate properties who otherwise would be unable to purchase a property without taking on a large mortgage or incurring substantial debt.

Why Joint Ownership?

Although most people understand the responsibility that is included with larger purchases of a secondary residence or vacation home, there are some people who find they would not use the asset on a full time basis. For those people who are looking to find value in simplifying certain aspects of their lives, Joint Ownership will provide ownership & use of an asset while reducing the responsibility of management and cost of ownership. Benefits of Joint Ownership include ease of convenience, hassle free ownership, and cost savings.

The key to any Joint Ownership arrangement is to have everything in writing, even if you intend to partner with family or ‘best’ friends, the proper agreements puts everything up front in writing so there are no issues or misunderstandings later on after the honey moon period of purchasing a vacation home.

Things like cleaning after use, repairs for broken items, usage, third party usage, smoking rules, pet rules and consequences, usage calendars, book keeping, etc. all have to be documented and signed off by the partners. These docs can even be registered on title if need be.

We have spent 3 years creating and refining the model, agreements and templates and this is what we offer in our Turn Key package.

If anyone would like more information on creating a Joint Ownership group to purchase a vacation property or would like to partner with us to increase your real estate sales please contact us.

Happy house hunting!

Michael Kuhbock
Email: mkuhbock@azjointownership.com

Arizona Vacation Home Strategies February 24, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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Arizona Vacation Home Strategies

Learn how to purchase an executive winter home fully furnished for the price of a car!

Vacation home strategies ~ An easy way to invest in undervalued real estate and enjoy it during the cold winters.

Ask us how at

Michael@Kuhbock.com or azjointownership@gmail.com

Why Phoenix?????

  • Nearly perfect year-round weather
  • The greater Phoenix area also offers visitors an array of impressive cultural attractions.
  • 200 + golf courses
  • Recreation, Major league sports – baseball, football, hockey!!!!!
  • Strong Canadian dollar!!
  • US Home Prices Continue to Tumble…
  • Sub-Prime mortgage buying opportunities!!

What is Joint Ownership all about?

Purchasing a vacation home in Arizona ~ Steps To Success

A little about Phoenix ~ Metro Phoenix Overview

A little about Phoenix Real Estate and Joint Ownership Considerations

A little about Golf In Phoenix

Furnishing a vacation home – ways to retain your sanity and marriage January 27, 2010

Posted by mkuhbock in Arizona Vacation Property.
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Updated from an earlier post a long time ago… Thought that it would be worthwhile to re-post as a lot of people I know are either purchasing or looking at purchasing in the US as the real estate prices are still inviting and the Canadian dollar is nice and high for the moment.

As most of us go through life from University to retirement, we acquire, fix, dispose of, replace, upgrade, add to and horde furnishings and fixtures for our homes. This is done over a period of a lifetime and we end up having a suitable collection of junk along with our prized possessions in our homes.

Unless we are forced to start fresh due to a fire or divorce or combination thereof  🙂 we typically have little experience in starting with a blank canvass to furnish a new home from the bare floors and walls stage.

Purchasing furnishing for a vacation home is one of those opportunities where you can start from the ground up with a clean slate or palette so to speak. In theory is would seem like fun, just think lots of new stuff for the 6 to 12 rooms, shopping, shopping and more shopping. But wait, there is more shopping, and more shopping and more shopping. Soon you are wondering if it will every end and how many times do I have to go back to Wal-Mart for that can opener or storage container that I always get side tracked from and never pick up…. If you have hair you will probably pull it out and you might as well book time in couple mediation or counseling prior to beginning what you thought was going to be a fun adventure.

So that you can keep your sanity and relationship in tact let me give you a couple of points of advice, from experience that is.

  1. First take a business or military attitude towards furnishing your home, plan and manage all of the logistics to the point of excess and take nothing for granted. When you are deep into the process you will be thankful that you thought through all of the possible issues and logistics associated with furnishing your new home.
  2. Secondly, make lists upon lists of everything you need or think you need, I had a 7 page spreadsheet that we start with and throughout the process it was edited and added to on an hourly basis. Have pricing associated with the goods and this will require a lot of internet time to price products out. If you are in a joint ownership situation you will have to plan on doubles & triples for a lot of things like towels, sheets, plates and cutlery.
  3. Create a budget that is to the dollar, see the above point. When you have a budget in place you can track what is going out and what purchases might be a great deal or recognize when something is over priced.  We spent 7 days solid and 16 hours a day furnishing and outfitting our house and believe me, after the first 12 hours on the first day you need as much organizational support in place as possible, otherwise you could fall into real trouble both from a product quality standpoint and a financial overspending standpoint. Due to the budget we created and the hundreds of hours doing research on the internet we saved over 75% on the retail cost of everything we have in our vacation home.
  4. Stay away from the cheap stuff. If you work at it you will be able to find good to high quality furniture and fixtures and prices below the cheap stuff. Thus it will add a level of sophistication to your vacation home and will also wear and last much longer than the low priced crap you end up seeing on sale at some of the big box stores or online at Craigslist.
  5. For Canadians, purchasing with cash is the way to go, saves on the exchange and possible interest rates. Remember that the exchange rate credit cards charge is NOT the banks exchange rate (which is not the posted national exchange rate either). Thus cash is king and in some cases you have more leverage for negotiating prices. Not all stores will negotiate but it never hurts to ask the salesperson and if he is not the decision maker then ask for the manager…
  6. Rent a cube van, yes it is not the coolest way to cruise Phoenix or any area that you have a vacation home in but it comes in very handy especially when deliver charges can be excessive and you never know when you come across a sale that you cant pass up and it is a cash and carry price. The first day of our furnishing adventure we filled the cube van 3 times. Sometimes even a cube van is too small, again in our case we purchased most of our bedroom furniture from the Costco Home Store and the King bed suite and mattress was too big for the van, thus you will have to rent a u haul truck. Due to our planning we only had to do this on one day (see logistical planning above). We got a great deal on a weekly rate from Capps Van and Car rental but I think they no longer service the Phoenix area.
  7. Make sure that you have a lot of pain killers, Red Bull, stamina, patience and work gloves. From the hundreds of miles of traveling from store to store, to the hundreds of boxes and packaging you have to open and then break down for removal (this is where you will need the work gloves because after the 10th or so box opened and plastic ripped off your hands will be raw, then imagine 7 more days of it) you need to be prepared.
  8. For sake of your relationship with either friends or family, buy a GPS unit and preload all of the stores you might be visiting into it including the location of your vacation home because when it is your 40th hour without sleep and you are trying to make you way home in the dark from some industrial mega mall you will be glad you are not fighting with a paper map, or your spouse because you have hit a dead end, for the 5th time…
  9. Try to enlist help, especially when it comes to building the furniture that you have painfully taken out of the boxes. This is a very time consuming activity, most furniture and items like dressers, beds, barbeques do not come preassembled and if you are doing everything, planning, purchasing, hauling, opening and unpacking etc. the last thing you want or need to do is put crap together.
  10. Plan ahead for junk removal as you dont want to run out of space and have boxes and packing crap blocking everything. We had 2 separate loads or 2 double garages full to the top with flattened boxes and packing materials.
  11. Finally, When purchasing art try to remain neutral when you are in a joint ownership situation, we went with iron art for some of the rooms to allow for the other owners a chance to personalize the house as it is there home also.

Believe it or not the above is only scratching the surface but it is a start in the furnishing a vacation home adventure… Good luck!

Cheers,

Michael

2010 looks to be an interesting real estate year for Phoenix January 19, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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After 19 days into 2010 I have noticed a couple of disturbing trends coming about. Or exciting trends depending on which side of the real estate fence you are on, the buying real estate 🙂 or selling real estate side :(.

Keep in mind that all of the below is unscientific and we will have to wait for the official numbers from the real estate boards to quantify my observations.

Firstly, I am subscribed to a number of automatic new listing and REO feeds that are sent to bme by email daily, I have noticed that the quantity of homes and the number of emails I am receiving daily is growing dramatically. The listing count seems to be increasing at a higher rate than I have ever seen before and the number of bank owned properties or REO’s listings is also growing. Has the dam burst for the lenders and they are now releasing the growing inventory they had shelved in 2009?

We played golf and bumped into a gentleman who knew of a person who’s job was to post foreclosure notices on homes, he stated that this person had a 160 notices backlogged on his desk, is this a sign of a future increase in inventory?

Prices appear to be dropping. I am following a couple of Metro Phoenix areas for activity and a few homes we have had our eye on, and in the last 30 days we have seen asking prices start to drop as inventory increases. These drops in asking prices have been substantial, especially for some higher profile condo complexes. Asking prices for homes in nice, stable, white collar neighborhoods are 40 to 50% off what they sold for in 2005.

Finally the last point in my unscientific analysis of the Metro Phoenix real estate market is that I have noticed a growing percentage of new listing notifications that are not new homes to the market but homes that have come back on the market after the purchaser has backed out or the short sale was not approved by the lending institution.

Is this just a minor blip in the Phoenix real estate market recovery or is it the next wave of downward value readjustment some of the previous articles I posted made mention of?

Before you decide maybe take a look at the next piece of uncomfortable news in the following link:

JANUARY 19, 2010

Souring Mortgages, Weak Market Force FHA to Walk a Tightrope

By NICK TIMIRAOS

David Stevens bought his first home almost 25 years ago, paying just 3% down with a loan backed by the Federal Housing Administration. “I had no money in the bank,” he says. “If it weren’t for the FHA, I wouldn’t have gotten that home.”

Now, as FHA commissioner, Mr. Stevens has to decide how many others to let through that door. Souring FHA-insured mortgages are threatening the agency’s finances. Congress is pressuring him to tighten the easy-money standards that once helped people like him, and he is expected to announce revisions as early as this week……..

It looks like the glass is either half full or half empty depending on which side of the Phoenix real estate fence you are on, hope you are on the right side. 🙂

Cheers,

Michael

To be a real estate analyst….. November 13, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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To be an analyst it todays market means that you would never be wrong… all you need in your predictions is the word ‘but’.

The market has stabilized but … The market is up over last (choose your date) but … Recovery is just around the corner but …..

We have hit bottom but ….

Bottom line is the Valley housing market has a long way to go before it is in a ‘real’ recovery phase that shows sustainable positive numbers and real upward trends across all classes of homes and all areas of the Valley. We are close to the bottom and will bounce along it now until the economic recovery takes hold. When will that happen? Your guess is as valid and as good as anyone elses as it is a crap shoot now.

House resale values in some market segments still have a way to fall, some analysts are calling for another 24% + drop, some market segments have stabilized and some small pockets in the Valley are even seeing an uptick in value. But … make sure you compare apples to apples, something that is not always done.

We are even seeing the new home construction now compete with resale in the same areas as builders have to keep their businesses afloat and need to move product to do so, deals are to be had if you have the kahoonas to risk investing with a developer that might not be around after you have put up half the money and your dream home is only 1/3 completed. Make sure you work with a stable developer that has a long history in the Valley and a well sold development, there are many out there but caveat emptor.

Foreclosure properties are still a very BIG wild card, how many are sitting on the desks of the lenders not yet processed, how many will be coming on to the market in early 2010 once the economy tightens a little more and the next wave hits, how many investors will be walking away from portfolios of properties that will then go into the foreclosure mill?????

Below is a decent but very vanilla overview on the market, an interesting read at least.

I think my next post might rant about REO properties a little more but until then have a great weekend.

Phoenix Housing Market Showing Signs of Recovery, but Still Has Issues

Published: November 12, 2009 in Knowledge@W.P. Carey

t’s Indian Summer in the Phoenix real estate market: Like a replay of the traditional high sales months, resale activity increased in October — from 9,070 sales in September to 9,955. But although the level of activity appears strong, it’s not necessarily a sign of recovery, as foreclosures continue…….

 

 

AZ Real Estate News Articles November 5, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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The first article reviews some of the signs of a false bottom for the AZ real estate market and the second might be an indication of how the foreclosure supply might see an increase when underwater owners just throw in the towel and walk away. Is the recent Vally real estate good news a dead cat bounce phenomena? Time will tell and 2010 will definitely be interesting.

Unseasonably high home sales in October linked to tax rebate
Arizona Republic – Phoenix,AZ,USA

Phoenix real-estate agent and property manager Melinda Murphy attributed the relatively … Phoenix real-estate analyst Jim Belfiore of Belfiore Real Estate …

UA prof to some homeowners: Consider walking away
AZ Central.com – AZ,USA
She’s the keynote at Lambda Alpha International’s Phoenix real-estate conference on Tuesday. The event starts at 7:30 am at the Sheraton Phoenix Downtown …

More walk away from homes, mortgages
By Stephanie Armour, USA TODAY
When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings to pay the $2,400 monthly mortgage on her home. But she soon decided it didn’t make sense: Her home was worth thousands less than the mortgage she carried on it.

 

Fannie Mae seeks $15 BLN in US aid after 3Q loss
By Alan Zibel, AP Real Estate Writer

WASHINGTON (AP) — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

The government-controlled company continued….

What is a real estate purchaser to believe???? October 21, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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I recently came across 2 separate articles that focused on the future of the real estate market. One was a national publication with grounded statistics while the other article was a local Phoenix publication that also was based on relatively hard numbers.

The funny thing is that both articles screamed the opposite opinion of where the market is going. The Phoenix based article speaks of a recovery and that the real estate slump is over while the national article talks about more pain and how real estate prices are about to go much lower.

My take is that the market will bounce along the bottom for another 36 to 48 months, great deals will be had and some insulated pockets in the Valley will actually see a decline in properties for sale and realize a marginal appreciation in value.

Check out the articles for yourself:

Phoenix-area consultants contend local real estate slump is over
Bizjournals.com – Charlotte,NC,USA
Two Phoenix real estate consultants are claiming the local residential real estate meltdown is over. Karl Guntermann, the Fred E. Taylor professor of real …

Housing Prices: Expected to Drop More in the Next Year?Home values are predicted to fall in 342 out of 381 markets in the next year, according to a new forecast. Learn why and find out which cities could buck the trend…