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Has The Gilbert Housing Market Reached Peak Garage?

The garage has had an important place in the hearts of American homeowners.  After the passing of the Federal Highway Act in 1921 car ownership in America soared.  This started our love of cars and our obsession over where to store them.   In ‘confessions of an automobilist’ an article written in June of 1925 it states, “Real estate men testify that the first question asked by the prospective buyer is about the garage.”  The article also goes on to note that “The house without a garage is a slow seller.”  Here at The Reeves Team we can assure you that the article from 1925 is as true today as it was then.  

Garages have never been more popular than they are today.  Over 80% of homes sold in 2017 had a garage, that is up over 20% from the 1960s.  Its not just the homes with garages that are increasing, its also the amount of garage spaces with each house that are increasing.  Last year 17% of new single-family homes sold had 3 or more garages spaces.  So garages have never been more popular than they are today, but will changes in the way Americans are living affect the way we use our garages? 

Ride sharing services such as Uber and Lift are making it easier for households to downsize the amount of vehicles they need.  A household that used to require one vehicle for each adult can now have one shared vehicle and use ride sharing services to supplement when there is a need for a second vehicle. Currently this trend is only popular among millennials, but if the same trend occurs with cars as it did with cable television, automobile companies should be concerned.  The question is, will the growth of ride sharing companies make a big enough dent in car ownership that houses with multiple car garages begin to decrease instead of increase?

Ride sharing companies are not the only threat to garages. If you live in the the Phoenix Metro you are probably familiar with the self driving cars that are buzzing around our roadways.  Most Gilbert residents view these as a competitor to ride sharing services, but in time it could be more.  Google has already announced that one of its long term ambitions is to have subscription services that you pay monthly for access to rides on demand.  Subscriptions services such as these could further allow families to downsize to just one car for the entire household.  It may even allow bold individuals to eliminate vehicle ownership all together. 

So while it is getting clearer that automobile ownership is probably at its peak and will begin to slow down over time, does that mean the same thing will happen to garages?  In today’s housing market we are conditioned to see houses with garages as beautiful. In most peoples eyes houses with 3 car garages have more curb appeal than than those with a two car garage or carport, but will this change in the future? 

So is it possible we could look at 3 car garages as eyesores in 20 years?  Will garages become detached from houses and hidden away in the back yard as they used to be?  The answer is no.  There are a few reasons why we haven’t reached peak garage and the trend for 3+ car garages is not going away any time soon.  

The primary reason garages are here to stay is that more and more households have become multi generational.  Even though the recession has been over for nearly 9 years the number of multi generational homes continues to grow. Over 20% of households in the United States include two or more adult generations.  With homes housing more adult family members the need for storage and easy access to that storage will continue to increase.  So while we might not be keeping as many cars in our garages in the future we will not have a problem keeping them full. 

Another reason garages are not going away is because while cars may soon start disappearing, recreation vehicle ownership continues to grow at a staggering pace. A recent trend the home builders have been experimenting with is selling houses with the option of incorporating an RV garage.  Our clients have been loving these houses with many choosing a specific builder because they offer the RV garage option.  American will always love their toys and home builders are responding by creating even larger garages so homeowners can more easily store them.

So it is clear to us that we have not reached peak garage.  Instead garages will continue to be an important part of home ownership for years to come.  Do you agree that garages are here to stay? Let us know if you agree or disagree in the comment section below.

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.

How Will The Looming Federal Reserve Rate Hikes Affect Gilbert Housing

We at The Reeves Team have been getting a number of questions regarding the upcoming interest rate hikes and how it may affect the Gilbert real estate market. The federal reserve has been raising the federal funds rate at a rapid pace over the last year. In the last year there have been 3 rate hikes of .25% and it looks like its poised for two more rate hikes by the end of the year. Depending on your view this can be seen as a positive or a negative. The optimistic view is that the federal reserve feels confident enough in the economy to continue raising rates without hurting the economy to badly. Its true that our economy has been doing well for nearly a decade at this point and it has not shown any signs of slowing down. The pessimistic view is that 5 rate hikes in a year is to much to fast and could cause a pullback in the housing market or could even cause the next recession. The Reeves Team will take you through a look at some of the possibilities and technical jargon you may hear over the coming months regarding the federal reserve rate hikes and how it could affect the Gilbert housing market.  If you have not read Troy Reeves State of the Phoenix Housing Market it is also a great place to get his take on where we stand. 

Why do people believe the Fed will raise interest rates twice by the end of the year?

The federal reserve used to keep its decisions on interest rates a tightly guarded secret.  Nobody besides the central bankers knew if the rate would go up, down or stay the same until the announcement was made.  This policy changed in the mid-70’s after the federal reserve raised rates quickly from 5.75% to 13% and then back down to 7.5% in a relatively short period of time.  This caused confusion among the banks and the businesses who kept prices high because they didn’t know what to expect.  This stop-go monetary policy was replaced by what we now know as forward guidance.  The forward guidance provided by the central bankers has economists convinced that two more rate hikes are coming before the year end.  The president views the increase in the rate to be harmful to the growth of the economy and has forcefully spoken out against multiple rate hikes by the year end.  Having the president attempting to influence the fed rate policy is a break from tradition and many believe may in fact force the federal reserve to raise rates twice to show its autonomy from the executive branch.  Unless things in the economy change drastically it is reasonable to expect the federal reserve will increase rates twice by the end of 2018.

Can it really cause a recession if the Federal Reserve raises interest rates to fast?

The short answer is Yes.  We have historical examples of economic downturns that were created because of the federal reserve misjudging the strength of the economy and raising interest rates to fast. The most recent example is the recession in the 1980’s when interest rates were raised rapidly from 6% to 10% and created a recession almost single handed.  The most famous example of over-tightening by the federal reserve is the great depression. In fact in 2002 Ben Bernanke who was on the Federal Reserve at the time apologized for the federal reserves role in the great depression saying “Regarding the Great Depression, … we did it. We’re very sorry. … We won’t do it again.” So as a Gilbert homeowner or a potential homeowner  it is important to pay attention when the federal reserve starts to increase interest rates at a rapid pace.  The question we have to ask is if the economy is strong enough to bear these increased interest rates.  Currently the unemployment rate is below 4% from a high of nearly 10% in 2009.  We are also seeing strong growth in the housing market and stock market even though the market expects another two rate increases.  These indicators give us hope that we may not be ready for another recession in the short term.

Is it possible that interest rate rises could actually help the real estate market?

When the Federal Reserve decides to increase interest rates it is generally seen as a negative for the housing market.  It is seen as a negative because higher interest rates mean that more of a borrowers monthly payment will go to interest.  When interest rates go up, potential homeowners purchasing power goes down.   As potential homeowners can afford less home, sellers will often need to lower their prices to accommodate the reduced purchasing power.  There are a couple of reasons why this is not always the case.  First off, the Federal Funds Rate is not always as closely tied to the aver 30 year mortgage rate as most people would assume. 

As you can see from the chart above the federal funds rate and the 30 year fixed mortgage are loosely correlated but they are no where near identical.  You can see the funds rate rose dramatically from 2004 to 2006 and then dropped substantially in 2008 all while the 30 year fixed interest rate remained relatively steady. The second reason that interest rate rises could actually increase home values is FOMO.  FOMO or fear of missing out is the phenomenon that occurs when buyers feel like if they do not get in now they may never be able to get in.  As you can see from 2004 to 2006 the Federal Funds Rate was actually increasing at a dramatic pace while the housing boom was occurring and home values were rapidly appreciating.  By now we all know that was not the only thing that caused the market to run up and subsequently crash but it does show that its possible to have price appreciation while the federal rate is increasing. 

If the rate hikes do cause a downturn in the housing market how bad could it get?

It is hard to believe that he housing crash and the great recession are nearly a decade old at this point.  While its been nearly 10 years it was such a big event that it is still fresh in most peoples memory.  So most home owners and home buyers are aware of just how bad prices can crash when they do go down.  While we remember how bad it was last time, it is important to remember that the circumstances have changed dramatically and we are not in the same place we were 10 years ago.  While interest rates were rising in 2008 when the financial crisis occurred, the crash can be attributed more to the subprime mortgage epidemic and the lack of solvency for major financial institutions.  Banks have been careful not to recreate the same issues that caused the crash last time.  If the federal reserve does raise rates to quickly and the economy and housing is negatively affected, it is unlikely to be as dramatic and can hopefully be corrected more quickly than the previous crash.  

Its also important to not that home prices had a dramatic spike before the crash in 2008.   As you can see from the chart above the price of homes went parabolic starting in 2004 and ending in 2006.  Then there was a huge sell off and over correction in the market that ended in 2009.  Since then the price of homes have normalized and are currently much closer to where they should have been if they continued the trend before the massive run up in 2004.  So while the rise looks dramatic from 2012 to 2018 it is important to keep in mind that home prices were dramatically oversold before they began to bounce back. 

What is the yield curve and what happens if it inverts?

Currently there is a lot of talk about the yield curve and how it can be an indicator or a potential recession.  It is important to note that just because the yield curve inverts does not mean we are due for a recession. With that being said an inverted yield curve has preceded the last 7 recessions so it is certainly something to keep your eye on.  So what is a yield curve? 

To put it simply, a yield curve is the return you get for purchasing bonds depending on the length of time before their maturity.  Typically if you purchase a bond for a shorter amount of time you would expect less return on that investment.  As you can see from the chart currently the yield curve is not inverted, you will “yield” more from purchasing a 30 year bond than you will for purchasing a 1 year bond.  However this curve is flattening and if interest rates continue to rise we could see an inversion of this curve.  This is something to keep an eye on as it has accurately predicted the past 7 recessions.  However, each time is different with a unique set of circumstances and history doesn’t always repeat itself, but it does tend to rhyme.


So we at The Reeves Team have thrown a bunch of information at you.  Hopefully you have learned a lot and will now be able to more accurately understand the relationship between the Federal Reserve Rate and the Gilbert Housing Market.  However, you may still be asking yourself what does it all mean?  Is now a good time to buy a home? Or sell my current home?   While there are headwinds that are coming for the housing market, we are in a much better position than we were before the crash in 2008.  If there is a pullback in the market it will likely be much smaller and shorter than the previous pullback.  It is also not certain that the market will pull back at all, we could continue to see sideways price movement or even sustained growth. It is unlikely we will continue to see the 12 to 15 percent increases year over year we have been seeing in the Gilbert market over the next year or two.   While there is sure to be a lot of news and information around the market in the next few months, take everything with a grain of salt.  We still have a great economy and more people than ever want to live in the Gilbert area.

Arizona Balloon Classic


The Reeves Team was proud to bring one of the most recognized corporate symbols on the planet to the Arizona Balloon Classic. At seven stories tall, the RE/MAX Hot Air Balloon grabs attention wherever it goes. This year The Reeves Team Sponsored the third Annual event held in Gilbert Arizona.


The Re/Max Balloon grabs attention wherever it goes.


Our talented Balloon Pilots gave rides to a few lucky families.


Troy Reeves and his twin boys pose with a family prior to a flight.


The Reeves Team and the classic Hummer brand teamed up with the Balloon to make this year an unforgettable event.

IMG_5746 Not content with just watching the balloons these onlookers decided to send their own balloons up.IMG_5822

Troy poses with potential clients and other members of the Re/max family for this photo inside the balloon!


The Re/max balloon pilot getting the balloon ready for the big glow!


A client of the Reeves Team signs the disclaimer before going up for an early morning ride.

Troy poses with the Hummer that doubles as a chase vehicle.

Apple Is Opening Large Facility In The South East Valley

Apple StoreArizona is showing its strength again as a leader in the business world, as the worlds largest tech company Apple has just announced plans to build a massive engineering plant in the South East Valley.

“This is a large structure,” Mesa Mayor Scott Smith said, “It’s larger than a regional mall where we all go shopping. That’s a lot of square footage. It’s gotta be built out so that it can be a manufacturing facility.”

With the large facility Apple is to create 2,000 manufacturing, engineering and construction jobs at a the new plant. The technology titan is beginning to shift production back to the United States. While Apple is known for its secrecy, the speculation is that the renewable energy powered facility in Mesa, Arizona, will produce laboratory grown sapphire crystals of the kind used in the iPhone 5S fingerprint scanner.

Also Read: Gilbert Focuses On Job Growth

Good News For Arizona

“Apple will have an incredibly positive economic impact for Arizona,” said governor Janice Brewer. “Their investment in renewable energy will also be greening our power grid, and creating significant new solar and geothermal power sources for the state.”

Run with solar and geothermal energy, which uses heat from deep underground, the plant has been designed in collaboration with local utility Salt River Project.

The building will be owned by Apple, while the furnaces will be supplied by GT Advanced, with a $578 down payment from Apple which will be reimbursed over five years starting in 2015 and is understood to come with certain exclusivity rights.

Also Read: Huge Master-plan Community Eastmark Now Open In Mesa

Demand for industrially produced sapphire has rocketed since Apple began using the material to protect camera lenses in 2012, according to research firm IHS Suppli. The deal will help Apple secure control over a scarce resource.

“We are proud to expand our domestic manufacturing initiative with a new facility in Arizona, creating more than 2,000 jobs in engineering, manufacturing and construction,” Apple said in a statement. “This new plant will make components for Apple products and it will run on 100% renewable energy from day one.”

This is more great news for Arizona, and specifically the South East Valley. Just recently Intel announced plans to build a 5 Billion dollar facility in the South East Valley.

Effect On Housing

The continued investment from fortune 500 companies in Arizona shows great promise for continued growth in the housing market. As large tech companies complete these new facilities you can expect to see an influx of high paying jobs and employees looking for homes.

What do you think of Apples investment into the South East Bally? Let us know in the comment section below.

New Eastmark Community Now Open For Business In Mesa

It has been quite some time, if ever, that a South East Valley real estate development opened with as much fanfare as Eastmark. But then, there has never been a real estate development with such lofty aspirations as the new Eastmark community has.

Eastmark is thinking big, really big. The slogan says it all, Eastmark will be “the heart and hub of the East Valley.” That would place it with existing hearts and hubs that in some cases had head starts of more than a century — places like downtown Tempe and its huge university campus, and a downtown Mesa that is rapidly gaining regional cachet. It will take time, but the Scottsdale based DMB believes Eastmark, the former General Motors Desert Proving Ground will live up to the lofty slogan.

The Eastmark Potential

Eastmark has been meticulously planned since DMB purchased the land from GM in late 2006 for $265 Million, but its not just about the planning, lots of communities have great features, its also about the location. Eastmark is positioned next to the eastern edge of Phoenix-Mesa Gateway Airport, the Gateway airport is the fastest-growing airport in the country. It’s also a stone’s throw from Arizona State University’s Polytechnic campus and from a former Air Force lab that Mesa hopes will soon become a powerful research magnet. And it’s only a few hundred yards from where the new Arizona 24 freeway will connect later this year with Ellsworth Road.

The Reeves Team, and many other Valley Real Estate Experts believe Eastmark has the potential to someday blossom into a virtual city in its own right, with several urban corridors, 15,000 dwelling units ranging from mansions to urban condos, and tens of thousands of high-paying jobs.

Eastmark is being developed around a central idea: that growing and maintaining a true community is predicated on creating energy, vitality and, most importantly, human connection. Eastmark looked at how people want to live today. How they work, play and socialize. How they create a sense of neighborhood and home. Then they began planning for how best to accommodate and encourage that lifestyle. The result? An artful blend of residential neighborhoods, planned resort components, employment cores, recreational spaces and commerce—all designed to effortlessly connect by an expansive 100-acre Eastmark Great Park.

Eastmark Amenities

A major feature of Eastmark will be a “great park” cutting a diagonal path through the heart of the development. The First phases of that park are already complete, including a lake that was filled with water last month. At the south end of the lake will be a 10,000-seat amphitheater. Also complete is a building called “the Mark,” at Eastmark Parkway and Ray Road. Now serving as Eastmark’s primary sales center, it will become a rec center once a new sales office can be established in a future retail corner at Ray and Ellsworth roads. Close by the Mark is a pad for a Mesa fire station, and just north of there is the charter school.

Eastmark is also Mesa’s first community to use all-LED streetlights, one of many efforts to conserve power and water.

Buying an Eastmark Home

There are many options when it comes to home builders in Eastmark. Many Valley builders are already signed on including Maracay Homes, Mattamy Homes, Meritage Homes Corp., Standard Pacific Corp., Taylor Morrison Inc., Trend Homes and Woodside Homes. Navigating as many choices as there will be in Eastmark can be tough. Contact The Reeves Team to help you find the perfect Eastmark home for you and your family.

What Is A Home Warranty? And Do I Need One?

Have you ever see a home put on the market that included a Home Warranty?  What does this mean?  If the sellers are willing to give you a home warranty does this mean there is something wrong with the home you are considering? The short answer is No.  A home warranty is insurance or home protection that helps to protect the buyer, and the seller from any unseen expenses that could arise.

So what exactly is a home warranty?

To explain what a home warranty is we should start by explaining what it is not. A home warranty is not the same thing as homeowners insurance, nor is it a replacement for homeowners insurance. Homeowners insurance covers major perils such as fires, hail, property crimes and certain types of water damage that could affect the entire structure and/or the homeowner’s personal possessions. A home warranty does not cover these perils. Rather, it covers specific components of the home from the breakdown of a home appliance or component.  A home warranty covers you during the sale process and typically up to a year after closing.  Your home warranty can then be renewed on a yearly basis.

What Does It Cost?

The cost of a home warranty is typically a few hundred dollars a year, paid up front (or in installments, if the warranty company offers a payment plan). The plan’s cost varies depending on the property. You will typically pay more for a warranty on a single family detached property than you will for a condo, townhome, or duplex.  The cost usually does not vary with the property’s age, unless the home is brand new, which increases the cost of coverage. The home’s square footage also does not affect the price in most cases, unless the property is more than 5,000 square feet. Separate structures, such as guest houses, usually are not covered by the basic policy, but can be covered for an additional fee.  Garage units are typically covered by the policy however.

The Benefits of a Home Warranty

Like all warranties, a home warranty is protects you against expensive, unforeseen repair bills and provide peace of mind. For a homeowner who doesn’t have an emergency fund or who wants to protect their emergency fund, a home warranty can act as a buffer. Home warranties also make sense for people who aren’t handy or who don’t want to worry about tracking down a contractor when they have a problem. Warranties can also make sense for people with expensive taste in appliances.

Is a Home Warranty for me?

A home warranty can be a great solution to the risks homeowners often face. However, before purchasing one, homeowners should read the fine print in the home warranty contract and contact their real estate agent for advise. Home sellers who want to offer a warranty to buyers and homeowners/buyers who would feel more comfortable having a home warranty should also do careful research to find a reputable home warranty company that will pay for legitimate repairs when they are needed.

Have you ever purchased a home warranty? How did you like it? Have you ever wished you had a home warranty when you had an expensive repair bill? Let us know in the comment section below.

Is A Home With A Pool For You?

So you have found the perfect Gilbert home for you and your family.Your dream home is in the perfect location at your ideal price, the only twist: it has a swimming pool. You know its common for Gilbert houses to have pools and you don’t hate the idea, but it wasn’t exactly on your top 10 list of home features, either. So how do you make sure that buying a home with a pool is for you?

To keep a pool from sinking you, The Reeves Team has compiled the top concerns we encounter with buyers who have never previously owned a pool, but are considering the purchase of a home that has one.

Is a Pool Worth It?

The benefits of having a swimming pool are clear: a quick swim just steps away, relaxing afternoons afloat with a book in hand, weekend pool parties, and when not in use, a swimming pool can enhance your view. Its easy to get caught up in the benefits, however there is a great deal of responsibility that comes with pool ownership including maintenance, safety, insurance, and home value concerns.

Pool Maintenance

Pool maintenance is easy to overlook, after all how much work could it really be? A few of the costs include daily filtering and hearing costs, weekly cleaning, inspections, occasional large repairs and resurfacing every decade or so.

  • Heating & Filtering: Pool heating costs can run anywhere from $100-$300 per month and vary depending on the size of your pool, your pool temperature preferences, and how you power the heater and filter (electric, gas, or solar). You can usually get a rough estimate on costs from your local electric or gas provider to understand typical monthly fees for the home, but in general, electric is the most expensive per month, followed by gas and then solar. In summer months heating costs are less of a concern because the sun does most of the work for you.
  • Cleaning: Pool services typically charge $20-$60/week to clean, add chemicals, and replace the occasional filter or submerged light bulb, depending on how your pool is equipped. You could choose to do this maintenance yourself, but then you’ll need to factor in $5 per week for supplies plus your time. Foregoing weekly maintenance is not a good idea because skimping on cleaning will result in bugs and bacteria If a pool is left unattended for months thats when you see the green monsters that no one would envy.
  • Major repairs: Its impossible to predict if you will ever have a major repair such as a leak, broken pump or pool liner, however if you do these types of repairs can be thousands of dollars. You should also ask when the last time a pool was resurfaced, this should be done every 8 to 10 years and can cost as much as 2,000 every time.


Keeping kids, pets, and visitors safe from pool-related injury can be a hidden cost for Gilbert home buyers. Make sure the residential pool meets the minimum code requirements for your city, if your not sure of the codes ask The Reeves Team for the most recent update.  If the pool isn’t equipped when you buy the home, installing safety measures could be another up-front cost you’ll need to account for.

Home Value

If you own a pool your homeowners insurance is likely to be higher. You should get a clear idea of what is covered by your policy. In Gilbert pools are common, they are more likely to bolster a home’s value. A well-maintained pool can contribute $35,000 to a home valued at $500,000 (or seven percent of the total home value).

So Your Going To Buy A Home With A Pool, Now What?

If you have decided to dive in, look for obvious warning signs when touring the home does it need resurfacing, are there visible cracks, or is the pool visibly in disrepair. Ask if the homeowner has kept detailed maintenance records.

If your offer on a home is accepted, the pool should be inspected along with everything else. Keep in mind that a general property inspection may not catch all possible issues, some things are especially challenging to test for like leaks. If the current homeowner does not have detailed records you should look into having a qualified pool specialist take a look.

What If You Love The Home, But Not The Pool

So you love the home, but you are not thrilled about all the responsibility that comes with it. Don’t worry you still have options. You can buy the home and then fill the pool or remove it altogether. The costs typically run between 6 and 10k, regulations and permits are also required. Make sure you have someone qualified handle the removal to avoid nightmare scenarios such as sinkholes due to poorly compacted dirt.

Pools can be a great deal of fun, and great for entertaining. However its important to know what your jumping into before you make the purchase. Give us your feedback. Have you bought a home with a pool and love it? Or do you have a huge case of buyer’s regret? Tell us all about it in the comment section below.

Homes Near The Gilbert Temple: When Should I Sell?

Local residents have been watching eagerly as Gilbert awaits the unavailing of its first LDS Temple. While there is no official date for the temple opening(on record the LDS Church states late 2013 or early 2014) Gilbert’s first Mormon temple has already been a huge success. How big of a success? The Mormon temple has no official opening date and is still months away from completion, yet over 40,000 people have stopped in the temples visitor center. If you have not noticed the visitor center when driving by, that is because the center is extremely easy to miss. The Gilbert LDS Temple visitor center was set up in a trailer in early 2012 and has been a hive of activity ever sense.

The increased attention has helped the area near the Gilbert Mormon Temple see large increases in housing value. This has lead many potential sellers to ask The Reeves Team when is the best time to sell a home located near The LDS Temple. The conventional wisdom says that once the Temple opens and excitement is at its peak that is the ideal time to put your house on the market. While the opening may be a great time to sell your home near The Gilbert Temple, it wont be the best. Here are a few reasons why.

Housing Inventory – Right now there is a shortage in houses in the South East Valley, that will not be the case in early 2014. Arizona has just dusted itself off from one of the largest housing recessions in decades. New build communities have been struggling to survive for the last 4 years, and they can finally see the light at the end of the tunnel. This is especially true in Gilbert near the Mormon Temple. Communities such as Adora Trails, Finisterra, and Freeman Farms are starting to spring up. The added inventory will slow the increases in housing value, and the competitive prices new build communities sell at will put downward pressure on area prices. While this is good for the overall health of the Real Estate market, it wont be good for existing home prices in the short term.

Interest Rates – Rates have been to low for a long time. Everyone loves it, but we also know it can’t stay that way for ever. Unfortunately interest rates are going to rise at least 2 times by years end. Consider the impact of an interest rate increase of 2 percent on a mortgage loan. If you borrow $175,000 for 30 years, your principal and interest payment will only be $835 per month (with a 4% fixed interest rate). Borrow $175,000 for 30 years at a 6% interest rate and your payment balloons to $1,049. That’s a 26 percent increase in your loan payment. So what does this mean to potential sellers? It means you will have less people that can afford to buy your house next year than can afford to buy it right now. This means less competition, which in turn means lower prices on your home. It doesn’t matter if your home is near The Gilbert Mormon Temple or not, an increase in interest rates has the potential to hurt the value of homes anywhere.

Herd mentality – This one is simple, if you are doing what everyone else is doing, your probably doing it wrong. The conventional wisdom says your home will be worth the most when the temple opens, it also says the same thing to everyone one else in your neighborhood that is considering selling their home. If your home goes on the market with 3 similar models at the same time your going to have the wrong kind of bidding war on your hand. You want to have the only home in your area like it, talk to The Reeves Team about the proper strategy when listing your home.

Its also important to consider buying a home is not a spur of the moment decision. The majority of potential buyers for your home are not going to decide they want to live there the second that The LDS Temple opens up. In fact many of them probably already know, or they may be considering it if they find that perfect house. Give The Reeves Team a call today, it would be our pleasure to discuss the best time to sell your East Valley Home.