A Griffith Listing

Real Estate Services by Jon Griffith

You are here: Home / 2008 / Archives for July 2008

Archives for July 2008

Flex MLS In, Tempo Out

by

Arizona Regional Multiple Listing Service is making a huge change this month from the old Tempo system to the new FlexMLS system, finally!  We have been waiting for more robust search capabilities, faster searching, and better statistics reporting for quite some time.

After evaluating the new system, even though it’s not everything I’d hoped, it is a vast improvement over what we’ve been used to.

It’s possible that your agent is not aware that during the transition to FlexMLS, the only information pertinent to you that will be transferred from the old system (Client Gateway) to the new system (Portal) is your contact data.  If you have been used to logging into your custom website to view properties that have been saved, your searches will not transfer to the new system.

This means that your agent will need to recreate those searches to get the valuable information you need back within your reach.  Of course, if that doesn’t happen quickly enough, I’d be happy to create a custom portal for you with the right criteria to get you back on track with your house hunting.

 

Real Scottsdale Living: Flex MLS Property Portal

by

Access to your FREE listing portalThe world of Real Estate in Arizona is about shift.  July is a big month for the technically savvy agent because our property listing system is being completely overhauled.  But more importantly, it’s a big month for you because the system that you rely on to view property searches is being vastly improved.

Client Gateway is a clunky online system that allows you to see various properties based on searches that I have created for you.  Client Gateway will soon be a think of the past.  The new Flex MLS system enables you to login to a free online “Portal” to your property information.  Through this portal, you have far more information that Client Gateway could ever provide, and the system is much more efficient and responsive.  It’s also fun to use.

Rather than attempt to describe how it works or outline all of the features, I’ve included a link to a video tutorial that you can watch before you get started.

If you’re ready to begin searching for a home and you’d like to have your own personal portal login please complete the form below and I’ll set you up.

Independence Day Results

by

As I mentioned in my previous post about Independence day, the annual tradition of cycling from Scottsdale to Tempe to watch the fireworks show was put on hold this year.  Last year, Mike Whalen hosted a get together at his brother in law’s house and again this year at his new home, which was a bit off the beaten path that we’re so used to traveling on the fourth.  Rather than cycling, we decided to join our friends and it was well worth it.

I was skeptical of how the fireworks would fare from atop a hill in Papago Park, but it turned out to be just about one of the best places to view the annual festival of fire in the sky.  I cooked up some photos as you can see in the gallery below.

Don’t forget to DIGG this post!  Click the DIGG icon to the right!

[kml_flashembed movie=”https://agriffithlisting.com/slideshowpro/independenceday.swf” width=”594″ height=”400″ base=”https://agriffithlisting.com/slideshowpro/.” /]

Independence Day Traditions

by

It’s that time of the year when we gear up to barbecue and watch fireworks.  Even in this hot, desert state of Arizona we manage to blast off into the lower atmosphere with our eyes and ears trained on the glory of beautiful colors and crackling noises.

Every year for the past four years I’ve made it a tradition to bicycle from my area of town, Hayden and McDonald, 12 miles down the greenbelt to the north shore of Tempe Town Lake to watch the fireworks.  Every year I have been pleased.  The ride, if leisurely, will take you about an hour, unless you choose to stop for dinner at Prankster’s Too, a small sports bar alongside the greenbelt.  Once you’re there, enjoy not having to deal with traffic as you casually ride up to a great front seat show.  The south shore of the lake during this event is miserable.  I highly recommend cycling.  Make sure if you go that you bring some water and give yourself enough time to park yourself in a comfortable spot.

Be safe this year.

Man Buys House, Raises Annual Income

by

I frequently find myself in conversations with people who are unaware that they could in fact purchase a home.  There is a misconception that homes come with more bills than apartments, and that owning a home locks you in to living in one place forever.  Ownership doesn’t mean you’ll incur additional expenses if you choose the right place for you.

On the latter point, if you’re planning on making a move and you’re hoping to get rich quick, don’t hold your breath.  It costs more to sell a home than it does to buy a home because of the marketing costs involved, so you’ll want to make sure you stay in your home long enough for the value of the home to exceed the brokerage fees you’ll incur when selling.  So, yes, you would probably be looking at a longer stay in a home if you own it than if you rent it, but here’s why it’s a better financial decision for your long term financial growth.

Owning real estate builds wealth.  Renting builds someone else’s wealth.  How can this be?  Let’s look at a simple example.  We’ll take two single adults, Joe and Larry, each making $30,000/year.  (Note: I am not a lender and cannot be held responsible for the accuracy or realism of these calculations, but I’ll do my best.)

Joe Makes $30,000 year.  He rents.  His monthly rent is $1000.00.  For the sake of simplicity, we’ll assume he has no other expenses.  I know, not too realistic, but it cleans the canvas for the brevity of my point.  Joe pays the government based on a 15% tax bracket.  His tax bill for the year will be roughly $4099.00.  That means that of Joe’s $30,000 salary, he takes home $25,901 and of that, he spends $12,000.00 on rent, leaving him with $13,901 for the rest of his discretionary and non-discretionary expenses.

Larry also makes $30,000 / year.  He bought a $160,000.00 home at roughly 6.25% for 30 Years, fixed.  (No idea how mortgages work?  Check out one of my sponsors, Michelle Minnoch.)  His mortgage payment is about $1000.00 / month, but the key difference is that part of the mortgage payment is interest to the lender, and the rest pays down the balance of the loan.  Over the course of one year, where Joe would be throwing away $12,000.00 in rent, Larry only “throws away” $10,100.00 and the difference of $1900 becomes equity in his home and increases in value over time.

So, while Joe has thrown away $12,000.00, Larry has saved nearly $2000.00.  Not only has he saved over the course of the year, he can also reduce his taxable income because the interest paid to the lender is tax deductible.  Where Joe found himself in the 15% tax bracket, Larry can reduce his taxable income by the amount of interest paid out during his first year of ownership which amounts to about $10,000.00.  Larry is still in the 15% tax bracket but he is taxed on only $20,000.00, which means his tax bill will only add up to $2599, a savings of roughly $1500.00 over Joe.

Joe pays Uncle Sam $4099 and throws away $12,000.00 on rent.  Larry pays Uncle Sam $2599 and throws away only $10,000.00 on tax-deductible interest.

When Larry bought his house, he gave himself a $3500 raise.  Joe is still renting.  They both spent $12,000.00.  Which one do you want to be?

If you’re thinking about buying a home or reabilitate your actual home, get in touch with our friends from renovations victoria!
If for some reason you don’t believe that you are a qualified candidate, give me a chance to talk to you about it…you owe it to yourself to begin building wealth and living the American dream. Read more about here www.hornchurchlocksmith.co.uk.