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Monday, December 1, 2014

Can You Buy Real Estate With Your IRA?


There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.


Today we are going to answer a question that we got recently from a client. The topic: real estate investing.

Robert sent us an email recently asking about investments in real estate. His exact question was "Can I purchase a real estate investment property with my IRA?"

That is an amazing question, and one we are happy to answer. You certainly can borrow from your IRA to purchase an investment property, and pay the amount back later.

There's one problem with this approach, however. If you borrow the money from your IRA and pay it back, you will have to pay back a lot of money in taxes as well.
Don't worry, though. We have another solution that you can take advantage of that won't require you to pay extra money in taxes. You can leave your money in the tax-free protection of your IRA, and use that to purchase your real estate.

This is called a "Self-Directed IRA" and what happens is that you make the real estate purchase through the name of your IRA.

This is a wonderful, and cheaper way to add real estate to your portfolio and help you make some more money.

If you have any questions, don't hesitate to contact us. We would be happy to answer them.

Wednesday, November 12, 2014

Don't Let Lenders Give You the Bait and Switch



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we want to have a very important conversation about lenders and their bait and switch tactics. 

It goes like this: clients of ours will go to our lender, one we've recommended, who will give them the lowest available interest rate at the time. He will show them the closing cost they can expect to pay at the closing table and lay it all out for them. Inevitably, the client will think they can get a better interest rate elsewhere. 

Many lenders will tell you to your face that they can get a better rate, even though it's not true. Time and time again, these lenders say they can get a better rate, but by the time the closing documents are disclosed, the rate our lender originally quoted is the one used. Why is this?

Interest rates change all the time. About 4 weeks ago, rates dropped to an all-time low, yet again! Lenders use that moment to advertise, but rates change daily - by the time someone sees how low rates are and wants to act, rates have risen. Indeed, the media is typically a solid 2 weeks behind on interest rate information! 

How do you avoid getting tricked by lenders? It's simple: call your real estate broker and have them recommend an honest lender. We have a close relationship with our lender and have worked with him many times in the past. We know he'll give you a true evaluation and help you obtain the best possible rate.

If you would like to speak with a lender you can trust, or have any questions about real estate in general, don't hesitate to give us a call or shoot us an email. We would love to give you a hand!

Monday, November 10, 2014

Our Team is Growing- We Need Your Help!



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey there everyone, thanks for tuning in again. Today we have a special request for you.

We are in the process of hiring 3 new, licensed real estate agents to join our team and thought that we would turn to you first. If you know anybody who is looking for a career change, or wants to join a different company,  please let us know.

We are fortunate to be hiring due to our continued growth. We have so many leads right now, we just can't keep up, which is why we are looking for talented agents to join our team. 

If you have any questions about the positions, or know somebody who might be right for the job, let us know. Give us a call or send us an email. We are looking forward to hearing from you!

Wednesday, September 24, 2014

The Importance of a Pre-qualification Letter



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

We at Riddle Realty are here to help you find success in all of your real estate ventures. Today, we want to explain why it is crucial to get a pre-qualification letter.

Before you look at homes, you need to get a pre-qualification letter from your lender. We've heard too many stories of people going out, finding the perfect home, and having their hearts broken after learning they can't afford it. There's nothing worse than wasting all of that time, energy, and excitement, only to fall short of your goal.

Getting a pre-qualification letter is convenient because it sets expectations. When talking with a lender, you can determine a payment method that you're comfortable with and get a general idea of what your interest rate will be. You'll also have an understanding of what you can afford, whether your monthly payments or HOA fees. In short, it's a simple step toward a successful buying experience.

If you are looking to get pre-qualified, we highly recommend Aerick Squier of WJ Bradley. He is knowledgeable about the process and will make it as comfortable as possible. You can reach him at (480) 220-5254

As always, give us a call or shoot us an email with all of your real estate questions and concerns. We would love to give you a hand!

Wednesday, September 10, 2014

What to Consider Before Buying Solar Panels for Your Arizona Home



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

Recently, we've been asked many questions about whether you should buy solar panels for your Arizona home. It really depends - you have two different options when it comes to paying for them and there are a few things you should consider before making your decision.
  1. One option is to purchase solar panels. Before you do, you want to ask yourself how long you plan on staying in the home. You'll probably save $50 to $100 a month on your electrical bill, but it will be a long time before those savings pay for the cost of the panels.
  2. You can also lease the solar units. If you plan on selling your home within the next 5 years, we suggest you don't lease solar panels. They are a very tough sell for buyers, who will want to compare your before and after savings regarding the units and then add that in the cost of the lease. We have had a tough time making that happen with our sellers.
While solar panels have not proven to add much value to your home when it comes to resale, they are a great option for some people. If you plan on living in a home for a long time and can spare the cost, they are a fantastic investment and great for the environment. Knowing if they are right for you is the important part, and we can help with that. Give us a call or shoot us an email - we'll discuss your options and help determine what's best for you.

If you have any real estate questions about the Cave Creek area, email us a DearKodi@TheKodiRiddleTeam.com and we'll answer your questions in our next video!

Tuesday, August 19, 2014

What Does Zillow's Merger with Trulia Mean for You?


There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

As you've probably heard, Zillow has acquired Trulia in a multi-billion dollar deal. While many in the industry have been talking about the potential consequences, we feel that it will have little, if any, effect on you.

These sites have not proven that they can give you the accurate and up-to-date information you need. They are helpful, however, in making it easy for me to connect with you and give you quality information.

A real estate professional has so much more to offer than Zillow and Trulia. We have access to the best data and proper comps to give you the best value of your home. If you are looking to buy, sell, or have questions about Phoenix area real estate, don't hesitate to give us a call. We would love to help you in all the ways Zilllow and Trulia can't!

Thursday, August 7, 2014

A gift from Kodi!



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we are very excited to share a gift with each and every one of you. If you have a home in the Phoenix metro area, this is a fabulous tool for you to use.

What we are talking about is the "Market Snapshot" tool. All you have to do is visit www.metrophoenixpropertyvalues.com and enter your information to begin receiving this market snapshot. With this service, you will receive all the latest updates on what is going on in your specific market, the market that your home sits in. 

You can choose how often you receive an update, whether it be weekly, monthly, or any other amount of time. With this update, you will receive new listings, median prices, when homes go on the market, when they sell. You will even know how to find good schools, restaurants, and grocery stores in the area. Anyone who owns a home in the Phoenix metro area can use this service. Simply visit the site and get started receiving updates, whenever you like!

Teaser: We are excited to give you a fantastic gift today. By signing up for this market snapshot, you will get all the information you need about the real estate market in your specific area. You can choose how often you receive these great updates, all you have to do is simply enter your information to get started. To learn more about the great advantages this market snapshot will provide you, watch this short video. Use this service to get all the information you need!

Wednesday, July 16, 2014

Greater Phoenix Real Estate Area Snapshot



There are many great Phoenix homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 580-0171 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey all, we're here today to give you a quick update on the Greater Phoenix area real estate market. Many people are asking whether its a buyer's or seller's market. While the market is more balanced than we've seen recently, buyers appear to have a slight advantage. Here's why:
  • We have a 5 month supply of inventory.
  • Sellers are seeing their homes sit on the market for longer than usual. 
  • Price reductions are occurring.
  • Interest rates are low.
Buyers: this means that there is a wide selection of homes at affordable prices.

Sellers: the longer you keep your home off the market the more money you are losing.

Regardless of what you are looking to do, we want to help you get the best deal possible. We can help you negotiate to get the price right where you need it. Give us a call, we're happy to help!

Monday, July 7, 2014

How we helped Curtis buy a great property by always being customer oriented



"We were very happy with the end results. We got a good property in a good area that was the best value for us. When we put in an offer on a house that was definitely overpriced, Kodi showed us another option that we ended up buying because it was a better value. She is determined to have happy customers and if we look to buy another property, we’ll go to Kodi first."

Wednesday, July 2, 2014

How we helped Wendy by a home for a great price with our ability to meet her needs



"Kodi’s tremendous strength is her ability to gage and match the level of intensity of her clients. If you’re in an intense mode and need to get a deal done under great market conditions, she can match that and make it happen. If you’re more laid back and just looking for a while, she can match that as well. It’s a rare and valuable characteristic and we really appreciated her ability to do that for us."

How we helped Randy sell his home in 3 days by always being available to him



"Our house sold in about 3 days so we had great results with Kodi, we were very pleased! She was always available to answer all of our questions whether it was on the weekend or at 9 o’clock at night. She was so patient with us and really took the time to explain our options."