Shara Terry, Real Estate Professional with Keller Williams Sonoran Living

Sunday, March 22, 2015

Small Space Living



Fueled by young buyers in search of an urban lifestyle and older homeowners looking to downsize, the condo market is hotter than ever. “Small living” is the latest trend everywhere. Entire sections of some furniture retailers are devoted to the fine art of managing a small space. With a little effort put into maximizing the use of living and storage space, there is no need to be claustrophobic in a small home. Here are a few tips for “living large" in a small space.

Keep It Light – Dark colors tend to overwhelm a small space. Use natural light and pale colors on the walls and window treatments to open up the space and make it seem larger. This does not mean the space has to appear monochromatic or bland. Brightly-colored furniture, lighting fixtures and decorative art will provide a nice contrast while maintaining the light, open feeling that a small space needs.

Mirror, Mirror on the Wall – Ask any magician, using light and mirrors to create illusions is the oldest trick in the book. In this case, a mirrored wall creates the illusion of a wide open space. Mirrors function to brighten things up and make a small space appear bigger. In addition to installing mirrored closet doors and wall panels, you may want to hang a mirror on a wall opposite a window to increase the impact of natural light within the space.

Furniture Selection – Two key concepts to keep in mind when designing interiors for smaller spaces are scale and proportion. Fortunately, many furniture makers today are designing pieces with small space living in mind, but don’t think you’ll have to buy everything new. You can maintain the right sense of proportion and scale by simply eliminating the excess and focusing on functionality. An L-shaped sofa will provide a lot of seating capacity while saving space. It’s also helpful to look for furniture pieces that can double as storage units, such as an old chest box as a coffee table or a small chest of drawers as an end table.

Take the Party Outside – In Arizona, socializing is all about enjoying the desert air. If you love to entertain or have a large family coming over for the holidays, think about using your condo association’s common areas to host your guests. Nowadays, for this purpose, more and more complexes have barbecue areas, terraces and reserved space. Your guests will enjoy the experience and there will be no worries about where to seat everyone.

While you are focusing on my tips, think about all the money and time you could save once you have already settled in. For those used to living in sprawling suburban homes, there may just be a short adjustment period. However, we live in a crowded world, so small space living is undeniably here to stay.

Monday, March 9, 2015

How to Win a Bidding War


You finally found your dream house. It has everything you ever wanted and more. The stars have aligned and all is well with the world. Right? If there are other bidders for the same property, not necessarily. Heated markets on the upswing, in the past few years, have generated multiple offers on some properties. A seasoned real estate professional with knowledge of the local market is your best ally in a bidding war.

There are two points you need to establish early on: how much the home is really worth and how high you are willing to go. Bear in mind that some properties are intentionally underpriced in order to generate multiple offers and extract the highest possible selling price from frenzied bidders.

In determining how high to bid, it is important to take your long-term housing plans into consideration. If you are looking to stay in the home for under 5 years, there is not much sense in bidding too high. On the other hand, if you plan on staying for as long as possible, it might be worth it to extend an aggressive offer in order to come out on top. Even if you end up paying a little bit more, you will not have any regrets in the long run, especially if the property realizes a healthy appreciation over time.

Bidding wars are not for the squeamish or those with a low tolerance for taking chances, but an experienced Realtor can help mitigate the risk by carefully assessing the true market value of the property and the “actual” cost for you to purchase it. The actual cost equates to the purchase price, plus the cost of any upgrades or repairs needed to make the home suitable for you. If multiple offers result in an above-market purchase price and an additional investment is needed for a renovation, it may be wise to walk away.

Given the fact that decisions in bidding wars are pressure-packed and fast-paced, it is best to strategize with a professional. A good Realtor will help you maintain an even keel. The last thing anyone would want to do is overpay for a property just because of being carried away by emotions and the need to win the war.

Winning is great but it is not the only thing that matters. It is more important to come away from the bidding process feeling comfortable and confident that you put forth your best effort by bringing in a competitive and educated offer, aligned with your long-term real estate goals.

Sunday, March 1, 2015

5501 N. Camelback Canyon Dr.


To view this property website, click the picture or visit: http://5501ncamelbackcanyondr.BestHomeAround.com


                            5501 N. Camelback Canyon Dr.
Phoenix, AZ
Charmer on Camelback Mountain



Offered at $600,000.00                                5501ncamelbackcanyondr.BestHomeAround.com

This MUST see property has a Camelback Mtn back drop & pristine desert front. Nestled in the Arcadia & Camelback Corridors, a stone throw away to Paradise Valley, screams location, location, location. How do you get over 1/3 of a premium acre, 300 yr old saguaros, sunsets from all vantage points AND a home with character??? 5501 N. Camelback Canyon Dr. is how! An open concept great room leading into the kitchen is very livable and yet cozy. The windows all around you showcase the natural landscape from every room. Blend the conveniences of today with the charm of the 1950's. Private gated property with hardwood floors, an original fireplace & AZ wrap around porches invite you to stay awhile. Stories date back to the 1920's pump house which fed water up the mtn. Your story starts now...

Shara Terry & Alison Hamlet
Luxury Real Estate Consultants

Mobile: 602-692-0538
Mobile: 602-301-9839
shara@sharaterry.com
sharaterry.com



Keller Williams Sonoran Living | 5301 N. Pima Rd. #130 | Scottsdale, AZ 85250