How Opendoor, Offerpad and ZillowOffers are changing the home selling experience.

The the recent entry of Zillow offers the Gilbert area has become flooded with iBuyers.  iBuyers are companies that are attempting to streamline the process of selling a home.  You may have heard radio commercials for Opendoor or Offerpad on your commute to work.  Or maybe you have seen Zillow advertising to purchase your home as you browse their site.  We at the Reeves team have been getting more and more questions about these services.  We will shed some light on the differences between iBuyers and the traditional home selling process.  We will also answer some of the most common questions are clients have been asking us. 

The most common question we get is “Will they offer me the same amount I would make if I sold my house myself?”.  The short answer to this question is No.  You will not make as much by selling your home to an iBuyer service as you will through a traditional sale.  The reason for this is simple.  Ibuyers such as Opendoor will need to resell your home at a higher price to make a profit.  If the companies broke even on the sale of the homes they would be losing money as they have to employ a employees to facilitate the transactions.  

So what is the benefit of using an iBuyer?  Offerpad and other similar companies are trying to make the process of selling your home as simple as possible and hope that buyers are willing to pay a premium for this simplified process.  One thing to note is if you are working with an experienced real estate professional that puts their clients needs first, such as The Reeves Team, the home selling process can be tailored to your needs without paying the premium that iBuyers will charge.

Another question we get is, do these iBuyers charge a fee?  The answer to that question is yes.  While the fees can vary from company to company, most iBuyers hover around the 7% mark which is higher than you would pay working with an experience real estate team. While many people look at these companies as home flippers the companies themselves are trying to distance themselves from that narrative and suggesting they make their money from the fees associated with the sale and not from price appreciation.  

So should you use an Ibuyer such as Zillow Offers or Offerpad?  While these companies do offer flexibility in the home selling process, we recommend using a licensed real estate professional that your trust.  If you are open and honest when communicating what you need from the home selling process you can recreate the ease of selling to an iBuyer without paying the extra fees they will charge for the convenience.  This is also a great time to remind you about The Reeves Team 90 day sale guarantee!

So what do you think of the new iBuyer startups?  Let us know in the comment section below. 

 

 

 

5 Tips To Avoid Water Damage In Your Gilbert Home

As Arizona residents we don’t often find ourselves overly concerned with flooding and water damage. It rarely rains, and most of our homes are build above ground with basements being a rarity. However, when it does rain we can often get substantial amounts of rain all at one time. Arizona residents are familiar with downpours we receive during monsoon season. October isn’t a time many Gilbert Homeowners typically associate with large amounts of rain, however this October we are seeing a different story. Less than halfway through the month and we have already set a record for the most rain in recorded history in the phoenix area. With these facts in mind The Reeves Team is providing you 5 helpful tips to keep your home from taking on any water during this unseasonably wet October.

1. Determine How water flows Around Your house
One good thing about getting this much water all at one time, is that it allows us the opportunity to see how water flows on and around our homes. So the next time we get a large amount of rain grab a hold of your umbrella and march out into the rain to see if anything is concerning. Watch how the water flows on your roof and where the majority of the water is dumped on to the ground. You can check to see if there is any erosion at the points where the bulk of the water comes off of the roof. Its also a good idea to see how the water runs once it lands on the ground. Make note of anything you want to change once the clouds blow over and we get our typical sunshine back again.

2. Repair or replace roof Tiles or Shingles
Many leaks occur from our roofs. With tile roofs it can be difficult to determine if repairs need to be made. If you are concerned you can have a licensed roofer inspect your roof and let you know if repairs are necessary. You should also have the underlayment inspected on your tile roof as that is often the cause of leaking in Arizona Homes. Its also extremely difficult to tell the condition of the underlayment so its a good idea to have this checked out when purchasing a home.

3. Ensure your lot is properly graded
There are two types of grading around a home. Positive grading and negative grading. Positive grading means the slope of the land is away from your home and your foundation. Negative grading is the opposite and means the slope of the land is towards your foundation. As a homeowner you want positive grading so when you have heavy rains the water is not trying to get into and under your foundation. If you have a basement this becomes even more important. When you purchase a home you should have the home inspector check the grading. Its also important to think about your grading whenever you make changes to the outside of your home, such as adding vegetation or structures on the property.

4. Regularly clean and maintain your eavestroughs and gutters so that they’re not blocked
Not every home in the Phoenix area has gutters, but if you do have them it is important to make sure they are clean and free from debris. If your home has gutters it is for a reason. The gutters help ensure runoff doesn’t accumulate in the wrong areas. Gutters are typical of homes with basements to ensure the water does not runoff into an area that can cause water damage to your home. Set a calendar alert in your phone before monsoon season and when leaves begin to fall to make sure your gutters are in good working order.

5. Know how to turn off the water supply to your house
Many leaks occur through burst pipes or backups in your homes plumbing. It is important you know where the water shutoff is to your home. Often times in Gilbert your main water valve will be close to the street for convenient access. Some shutoffs will require a specific tool so make sure you have one available. If there is ever an emergency you will be glad you knew how to shut the water off quickly.

If you follow these tips you will feel much more comfortable when large storms arrive or when the unexpected happens in your home. Water damage can be a difficult thing to deal with as a homeowner so take as many preventative measures as you can. Let us know what other tips you have for preventing water damage in the comment section below. If you have any questions of want additional tips please reach out to The Reeves Team.