The Kolb Team Newsletter – April 2019
Where did Spring go? It’s well into April and didn’t warm up until mid-March and now the Snowbirds have mostly departed. Iowa and Nebraska friends, our thoughts and prayers are with you with the horrific flooding this spring.
Sports fans, did you take in the March Madness Games? There are always upsets and who would have expected Duke to be eliminated?
Speaking of March Madness real estate certainly fell into that category. Homes sold in March with an average sales price of $316,811. The Kolb Team sold 15 homes in March. Our average days on market was 28 – the lowest of any other agent/team who sells regularly in Sun Lakes.
For a free market analysis. Call 480-440-0849 or visit us online at
Back by Popular Demand – Second Annual Famous Shred-A-Thon
We love to give back to the community by hosting events that are useful to Sun Lakes residents and beneficial to those in need. For example, at our annual shred-a-thon we collect donations for the Hamilton High Homeless Program.
Our first shred-a-thon was held in January and was a great success. However, many said they did not make it and asked when we will offer it again.
Our intention was to wait until late fall. With the demand strong, we opted to host another on April 7, from 8 to 11 a.m. It was extremely well-attended, so much so that we had to turn people away toward the end. We had over 325 cars come through and shredded almost four tons of paper. Watch our website for the next shred-a-thon to be held in the fall.
To alleviate traffic congestion, we are working with the HOA for a better location and plan to have two trucks available. We will also have specific guidelines posted on our website. Check in this summer for an update or watch our newsletters. Thanks to all who came out to support the event.
As a Buyer’s Agent Trish helps clients find the perfect 55+ retirement community home. Trish pays close attention to her client’s needs, matches them with the right property, then follows
through with an honest and efficient transaction.
The marketing and negotiation skills gained through years in the ophthalmology field have given her a strong background that easily crosses over to real estate. Throughout her career she has consulted ophthalmologists on techniques for outreach and development, and patient care strategies.
Trish and her husband (and real estate partner) Carey have three sons and a daughter. Trish’s enthusiasm for Arizona is obvious, saying, “From concerts and sporting events to the Desert Botanical Garden there’s plenty to do and see!”
What happens when a home does not appraise at purchase price?
The first thing we do as a Seller’s agent is ask if the loan underwriter has signed off on the appraisal. Why is that important? In Arizona, a loan underwriter can challenge an appraisal if they feel it is inaccurate, then send the appraiser back out to make revisions. Until the loan underwriter has reviewed and approved, it is not a final appraised value.
In the Arizona purchase contract, when a home is financed, the buyer has an appraisal contingency that allows them to cancel the contract and receive their earnest money back if the appraised value comes in below the accepted offer price. Within five days they must give notice they are cancelling and provide a copy of the appraisal. However, normally, the buyer will ask to respond in one of three ways.
- Agree to close at the original purchase price and come up with the extra cash to close, as the lender will loan only 80% of appraised value.
- Ask the seller to reduce the price to the appraised value.
- Ask the seller to negotiate a new price (sometimes splitting the difference).
As a seller, you can agree or not agree to their requests. The buyer can then cancel the contract if they desire, and the home goes back on the market. Sometimes the Seller’s agent can challenge the appraisal, we have done so on a couple of occasions. Rarely does an appraiser make an adjustment, although we have had success on one challenge.
How to ‘Summerize’ Your Home
By Lisa R (one of our clients)
One of our clients shared some of her tips and secrets on how to close up your home for the summer when you are a snowbird. Some great tips to save you some money with your waste management and television/electronic bills.
- Contact your garbage collection service. You can suspend garbage pickup for up to six months. I just paid for the next six months, but when I suspend it in May, they will credit for the months I don’t use the service..
- Contact your cable provider. You can usually suspend your plan for six months. When we go back and forth during the season, I have our Direct TV set up on the family plan. When we are in Arizona, I change back to the Choice Plan. When we leave, I contact them again to put our plan back on the Family Plan. These simple tweaks save money.
- Set up auto pay for water, gas, and electric bills.
- Turn thermostats to 89. It saves money and our air conditioning service recommended not setting the thermostat higher in order to prevent stressing the unit.
- Empty and turnoff the water purifier/filtration system.
- Turn off water to toilets. I have a neighbor (who watches over our place) who comes over weekly to flush toilets, run the dishwasher and faucets.
- Close the blinds on all the windows.
- Bring outside furniture into the home., except for the fire pit and grill, which can be stored under a covered patio for protection.
- Have a neighbor plug in your golf cart once a month.
- Set up an exterminator to come for an in-depth spray in the spring, with monthly applications thereafter.
- Plan to trim trees March, summer, and September.
- Adjust irrigation systems for bushes and trees for summer weather.
- Adjust the timing for landscape lights.
- Set up light timers for multiple rooms in the house. Have a timer on outside lights as well.
“The Kolb Team are by far the best realtors with whom we have dealt with in many parts of the country.
They are committed, responsive, competent and utterly professional, yet friendly, gracious and neighborly.
One could not hope for more. We consistently recommend them to our friends.”
Get the Most Recent Sales Report
Every month we publish a list of Sun Lakes homes that have sold the previous month. These are published by community with address, floor plan (if agent placed it in the listing), and sales price.
2019 sales for all of Sun Lakes for the first quarter is 164 homes sold with an average sales price of $316,811, with the highest priced home sold at $617,000 (Kolb Team listing). Average price per square foot was $163.91 with the highest at $234.50 and average days on market at 52. Overall, Sun Lakes home appreciated 10.7% in the first quarter of 2019 over the same period of 2018.
Breakdown by Community
- Iron Oaks: 64 homes sold. Average sales price $386,658. Highest priced sold $617,000. Average and high price per square foot was $174.10/228.80 and average days on market 62.
- Cottonwood/Palo Verde: 68 homes sold. Average sales price $312,467. Highest priced sold $515,000. Average and high price per square foot was $166.98/$224.16 with average days on market at 48.
- Sun Lakes Country Club: 32 homes sold. Average sales price $186,350. Highest priced sold $297,900. Average and high price per square foot was $136.84/$234.50 with average days on market at 43.
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