Chuck Willman, Arizona Realtor® 480.292.0600

A couple years ago, I asked my broker if he knew any good property managers to recommend.

He said, "that's one of those questions that's hard to answer. I don't know if there is a good one... it's sort of like asking if you know any good landscapers."

Clearly, my broker had issues with landscapers and property managers.

I asked a few other agents who ranked on their "hardest to find" list.

One said 'auto-mechanic', another claimed 'family doctor', a third interjected 'cosmetic surgeon'.

The last one I put in the "too much information" category.

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Well... the longer I live the more I've begun to think my old broker was right.

Though I've discovered a couple good landscapers, I haven't found too many great property managers.

I know they are out there- but I realize their job is quite difficult. It's one of those professions that is pretty thankless- if the property manager performs well 99 times, they're great. Mess up once and prepare to feel the wrath.

What do property managers do for the real estate investor? They find the good tenants. They evict the bad ones. They make sure everyone is paying on time or bill extra to those who don't. They're hard working, seldom appreciated and underpaid. Beyond this, they perform many other essential services the client doesn't see.

I wouldn't want to be a property manager.

But a few people do. And now they work for my brokerage.

If you're needing a good property manager in the Phoenix metropolitan area, let me know.

We have several agents that are new to our brokerage, but not new to the business.

They've handled hundreds of clients in their day. And they're willing to handle hundreds more.

If you're interested, drop me an email.

Seven Percent?

What am I talking about?

Here it goes:

If you want to buy a home you will need a down payment. Right now that's typcially 3.5%.

Then there are closing costs... loan costs plus prepaids... these costs can include fees that allow you to take title to the property... insurance costs... home-owners fees... and various other costs that are associated to turning a property over from the seller to you the buyer.

These costs can be in the 3-4 % range.

In summary, on average- there is a 7% out-of-pocket cost to buying a home... unless:

• You ask the seller to pay for closing costs and/or prepaids. They are often willing to do so. That can reduce 3-4% of the cost to close.

• You find a home that is eligible for down payment assistance. There are loans available but they have their conditions. Call me... I'll let you know about them. Often they are new homes.
  

In some cases, buyers are able to own a home with very little down.

As a matter of fact, in some cases it's less expensive to buy than it is to lease... because with a lease you may need to pay first and last month's rent plus a security deposit. With certain homes your total out of pocket is close to $500.

If you'd like to know what it costs to own a home in Arizona, let me know. I'd be glad to discuss it with you.

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Chuck Willman is an Arizona based real estate agent: 480.292.0600

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Photo Credit: "3D Percentage Symbol" by Przemyslaw Szczepanski

How's the home search going?

This post is for those who stumble across my blog.

I'm an Arizona based real estate agent.

In short- I help people find homes or properties.

And... I also help people sell their homes.

Most people, these days, want to find a great home at a great price. I'm on board with that goal... it's what I try to do every day of the week- find great homes at great prices.

I also have resources that help you do the same thing.

If you'd like to search the listings, I can set you up with a free search site.

You can set your criteria quite easily.

You'll receive a "live" list of everything that's currently available... you'll be surprised at how much information there is.

You can also receive updates- making you among the first to know about the newest listings.

I have several clients in the past weeks who have been delighted to be so "in the know".

We've managed to beat the pack to a few listings that received multiple offers.

That's the funny thing about this market.

Homes priced low sell very quickly- especially when they're in very good shape.

If you'd like to be able to search the local listings and set up listing alerts let me know.

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Chuck Willman is an Arizona based real estate agent who specializes in nicely priced properties. chuck@azvest.com

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Photo Credit: "Traveler" by Asif Akbar

This is a very odd case.

Persons who worked for ZipRealty from May 4, 2003 - Sept 30, 2005 were invited to join a class action lawsuit against the company to recover lost commissions and other unreimbursed expenses. The case ended when parties involved settled for $3.55 million. After court costs and fees, the shared settlement amount was reduced to $2.525 million to be shared among just under 1,000 parties.

A few people received settlement checks. Most didn't. I'm sure that many of you who were among those who were awaiting your portion have been making many fruitless phone calls to receive your settlement. It would have made a very nice Christmas present.

Then the letter of explanation came. Sandeep Baweja of the Baweja law group wrote that he had "invested" the settlement funds in an online trading account. From April to December of last year he had managed to lose all but $54K.

He filed a motion to withdraw as counsel in the case and has informed the state bar of his actions. This he explained via a Christmas Eve mea culpa letter that he sent to the parties involved.

If you are among those who have received this letter, you may want to read the following news reports and blogs.

Russell Shaw (via Bloodhound Blog): Unzipped?

Orange Country Register: Irvine attorney admits burning through $2.6 million in fund

Further OC Register Report: Lawyer who misspent $2 million quits Irvine public schools foundation

Wage Law Weblog: He Did WHAT With The Settlement Money?

From this information there appears to be at least two threads to pursue:

• Check with the State Bar of California. If the attorney is disbarred (which seems highly likely) there might be settlement funds available. (I'm not an attorney- I'm simply passing on information I've read).
  

• A comment in the Bloodhound Blog revealed this, "lawyers for Mr. Hoven Garoyan filed a class action against Sandeep Baweja and Ernest J. Franchesi, Jr. and The Garden City Group, Inc. for their failure to distribute to their clients, about 600 former ZipRealty real estate agents, $2.6 millions obtained via a court settlement with ZipRealty for unpaid commissions." The attorneys involved are James Lee at jml@ltlcounsel.com and Luan Tran at klt@ltlcounsel.com (213-612-3737). Their complaint may be downloaded here.
  

I'm hoping this post may be grabbed by the power of the search engines and reach anyone who has been searching the net for solutions to recovering their portion of the settlement. If you want to re-blog or offer further links that may help the affected parties, please feel to post to the comment section.

On Jan. 26 there will be a hearing before the U.S. District Court in Los Angeles, at which time, Judge Otero will be asked to formally remove Baweja as lead lawyer on the class-action case.

President Obama has selected Janet Napolitano to head the department of Homeland Security.

And... the US Senate has confirmed it.

That left Arizona without a Governor.

But not for long- within hours, Jan Brewer, the Secretary of State, was elevated to the state's highest office.

Would you like to know more about her?

Here's the official Website: AZGovernor.gov.

Along with links to information about Arizona, there's a handy link which will allow you to download her Inaugural address.

I wish her well as she faces the challenges and opportunities that face our state.