Time to look at Town homes?

I get a lot of clients that have visited this one of my blogs or have been to townhomesonly.com. When the time is right for them, they contact me and ask to see one or several homes. Our first contact is usually on the phone and we talk about home loans and home requirements. How many bedrooms, bathrooms, size of kitchen, number of floors, outdoor space, and whether they prefer a patio home, condo or town house.

My client at this time gives me several mls numbers to check on and I then do a search to find more properties that might fit their needs. I might come up with 30-50 properties before the first cut. I read over each property and eliminate those that have a particular flaw. Maybe it backs to a freeway or it's on the other end of the community away from the pool. Maybe it says 'fix up' in the description and my client wants something they can move into. I've even seen one that overlooked a Taco Bell. I told the client you can get used to the view and even the sound of cars through the drive thru, but after about a week you'll get real tired of the smell.

I reduce the number of homes form dozens down to a manageable 6-15. Now it's time to get on the phone. For each property I need to call the listing agent to make sure it's on lockbox, still an active listing and get any other info that needed to show the home. Then I have to contact the seller or occupant of the property to let them know when we plan to visit. Every so often, an occupant asks if we can view the home at a different time. A couple hours later or another day. If we were seeing only one property this might be possible. But, when you are seeing multiple homes and you want the driving kept to a minimum, this is harder to do. I plan my showing in a circular fashion trying to go against rush hour or any traffic. I go west when the traffic is coming east. It saves us a lot of time, but makes it hard to accommodate the sellers. Usually we can find some middle ground that makes everyone happy. I check with the owner to make sure there's no pets in the house or backyard. I make sure vacant homes have electricity. Yes, I've shown up at homes in the winter at 6 pm. It's dark and we use our cell phones as flash lights to see a home. Not ideal, but you do what you have to do.

Next, I clean up my car. Having two teenagers and their friends in the back seats make this very necessary. I get bottled water, snacks and a few toys for the car if necessary. When showing homes in the Arizona summers, I tend to leave my car running in the driveway. But, in town home communities this is harder to do. Especially, if you have to park away from the front door.

I arrange a time and place to meet my clients. We hop in my car, which has GPS. This makes finding homes much easier and off we go. The car time is great for allowing the client and I to get to know each other. This is often the first time we meet face to face. I hand the client a 'buyer's packet' of useful information and a flyer for each property we are going to look at. Some clients like to take notes as they tour the homes, others jot a few things down once we are back in the car.

As we drive into a community I like my clients to look at the neighbors homes, businesses and parks. It doesn't matter what I think of the neighborhood, but it sure does matter what the buyer thinks. Weeds and shopping carts in the park, broken windows and graffiti tell you a lot about the community and the home owners association.

At the front door, I'm getting the key out of the lockbox. The buyer is looking at the front of the home and the landscaping. This is why it's crucial to have great curb appeal. Sometimes, the buyer has done a drive by a day before the showing. If they don't like the looks from the outside, forget about them ever seeing the inside.

We enter each home and use all our senses. I've it smells like wet dog or like smoke, most buyer's will say something. I encourage my clients to tell me everything they think about the property. If the owner isn't there, they won't offend anyone and I learn a lot about what they want in a home. I try to point out the good and the bad. If the kitchen is far from the garage or parking, I ask if that will be a problem hauling the groceries. If there's a crack in the ceiling I point it out. Dirty a/c filter, I point it out. If the community garbage bin is next to your bedroom window will that keep you up at 6 am when you hear the trucks 'beep beep beep beep'?

On the first day I want to find out everything the buyer likes and dislikes about each home. Then I like the buyer to rate which homes they like the best. After that, I tell the buyer's if they know they don't like a home and would never buy it, let me know. Most buyer's can tell within 2 minutes if the house has a chance to make their cut. If they don't like it, lets go.

Most buyer's can pick a home to make an offer on in under 12 properties. Some take longer. My philosophy is that we will continue to look, as long as we are making progress. If we hit a stand still and I don't think the property they like is out there, I tell them. If they want a mansion for under $200,000, it's not going to happen. If they want a condo with 2 bedrooms near the pool for under $200,000 we can probably find them one in the east valley. In Paradise Valley? Maybe not.

At the end of the day, we talk about what we saw. Decide if any are worth making an offer on. Decide if I need to call the listing agent to get info about the particular homes. I take my clients home or to their car and call it a day.

Or do I? I then go back to the computer. Call any home owners that we did not have time to visit with. Call any agents to find out more information. Call agents to thank them and give them feedback on their properties. Check to see if any properties we did not see might now be worth seeing. If my client loved a particular community, but not the home we were in, I check to see what else is for sale in that neighborhood. Sometimes they like a floor plan, but not a neighborhood. I check other communities for the same home.

That's what a typical day of showing homes is like. 2 -3 hours for the buyer and 3-5 hours for the Realtor. And some days, I show homes to two different buyers.

It can be tiring, yes. But, when we find the perfect home, it's like hitting the game winning home run. Of course, when we find the right home we then have to make an offer and get it through escrow to a successful closing. That's another story altogether.

If you have questions about the showing process, feel free to leave a comment, email me or call. If you have suggestions to improve the process, I'd love to hear them.

Beware the Condo Conversion

I've said in the past to only look at condo conversion as a last resort. If it is just too good of a deal to pass up. Now, you might be even more weary.

A lot of the conversions are 10%, 20% or 30% occupied and they aren't getting a lot of buyer's these days. So, at best you'll live in a community for a long time with most of the units empty. You'll be fighting the conversion company if you ever plan to sell. Or at worst, they'll decide to rent the rest of the units out. They'll even disguise it as a "Rent to Own" secenario. But, you'll get to live in a community that's 20% owned and 80% rented. And, if you ever decided to sell, it will be virtually impossible. The lenders won't lend in such a community, so you'll live there for a long time.

So, if you visit a condo conversion community, ask how many units are rented or not sold. Better yet, if you plan to visit a community like this, take your own Realtor. That Realtor can research the owner/renter/vacancy ratio and represent you in all transactions.

And if you don't have a Realtor - I'd love to help you out. Call me.

For other information on condo conversions click on the label below.

Rio Ventana - For Sale

Welcome to Rio Ventana, a gated townhome community just minutes from Arizona State University. These townhomes were built in 2002 and feature large square footage units with a community pool and hot tub.

This is unit 131 and it's for sale. It is 1510 square feet. It has 3 bedrooms (2 up, 1 down) with 2.75 bathrooms. The living room has a high vaulted ceiling and plenty of room for that large flat screen.

There's plenty of private outdoor space too. Perfect for that BBQ or just a quite space for reading the next big thriller.

All appliances stay with this home. Lots of counter space and oak cabinets too.

Not pictured is the two car garage. There's two bedrooms upstairs. Each has it's own bathroom. A bedroom downstairs and a downstairs bathroom that has a shower too.

The community has a hot tub and pool with rock water fall all behind a gated entrance.

This is a great property priced at $275,000. Others, in this community have sold for more. If you'd like to see a virtual tour of this property or others - visit my website.

Here's the builder's floor plan. This unit is the reverse of this plan and is located past the pool near the back of the community and away from road noise.

Thanks for viewing this property. Remember, Pat and Amy specialize in selling townhomes, condos and patio homes in the Phoenix metropolitain area. Visit their website to see what else is available for sale.

Mesa Coronado - For Sale

Mesa Coronado is a condo community near Fiesta Mall. The community is three different phases on the same lot. This is the newest phase built in 2000. These units have neighbors living either up or down and everyone gets a one car garage.

This is a ground floor unit and is 1148 square feet. It has two bedrooms and 1.75 bathrooms. The living room has high ceilings and a view to the patio outside. The patio is not totally inclosed, so it might not be ideal for a pet or kids.

You'll love the kitchen. It looks brand new and has lovely tile floors.

Here's a view of the outside area. Since this is an end unit, you get a little more space.

The community pool is in the center of about 5 buildings. It's usually empty and has a hot tub too.

This home is priced at $170,000 and is the lowest priced 1st floor unit available. See the virtual tour on at TownHOMESonly.

Lake Park Villas - For Sale

Lake Park Villas is a condo community in The Lakes, a masterplanned community in Tempe Arizona. This is a 'D' unit with two floors and a one car garage.

This is an overview of The Lakes. While, these condos aren't directly on the water, they are in walking distance to the water and the community center. There's one pool about 25 yards from the front door and the community center is just across LakeShore Dr.

This is 1290 square feet. It has a living room (pictured above), bathroom and kitchen on the main level. There's a door to the garage. Currently the garage has been transformed into an office (fourth room), but could easily be turned into a garage again. There is some space left as a garage, but not enough for a car.

The cabinets, counter tops and appliances have all been upgraded in this lovely unit.

The masterbedroom is extra large with it's own private bathroom and walk in closet.

Not pictured are the other two upstairs rooms, an upstairs bathroom, downstairs bathroom, dining area, patio and den. This unit is priced at $180,000 and is well below comps. If you'd like to see a virtual tour, visit my website.

The Lakes - Tempe, AZ

The Lakes in Tempe, Arizona is a masterplanned community of single family homes, condos, townhomes, apartments and retail shopping. The centerpiece is a huge lake meandering in and out of various neighborhoods with a shopping center in the middle and a large community center. The community center has an Olympic size pool, kiddy pool, tennis courts, basketball court, weight room and meeting rooms.

This is an aerial of the Lakes largest condo community - Lake Park Villas. All homes come with a one car garage and you have a choice of ground floor, above the garage or two story homes. LPV has it's own pool, or you can go across the street to the community center. It's also an aerial of the smallest townhome community in the Lakes - called The Lakes. These homes are on the lake with docks. There's only 38 homes and they don't come available too often.

Harbour Village is also on the lake. It's a gated community and is the most expensive townhome community in The Lakes.

Across the street is Runaway Point. A condo community that is also on the lake. All these communities are a short walk to the community center.

Finally, there is Sandcastle. You can see the community center across the street.

Southpark

Townes of Southpark

Same builder as the Townes of South Meadow. This community is further west, near the corner of Chandler Boulevard and Kyrene Road. It's nice, because it is away from the busy streets nestled between single family homes and an office park.

Aerial views

The Townes of South Meadow

Most home buyers like to see lots of pictures. I like to take the standard photos of the front, rooms and pools. But, I also like to take pictures of the flooring close up or patio areas. The pictures that give buyer's a lot of information are the aerial ones like you see below. See anything interesting?

I see major roads to the south and west. I see a water storage tank to the east. The pool in the middle of the community. More homes to the north and north east.I see carports and uncovered parking. Some of these things you may have questions about. I sure do.

Condo Ownership Article

Here's an article about condo and townhome ownership. I'll write about various parts of this article in future posts.

What You Need To Know To Sell Condos by Blanche Evans of Realty Times

Community Amenitities

The variety of amenities in the communities is large. While most will have a community pool, some will have several with hot tubs, lots of cool decking, covered areas, turf areas and clubhouses.

All community pools are gated and fenced. Most are in the center of the community, but some are along busy streets and are therefore noisier. Many home owners want a pool that has bathrooms for all to use.

Some communities will have a lake. A community dock is rear, but not unheard of. This dock is in The Lakes in Tempe.

Some communities have tennis or sports courts, racquetball, BBQ areas and clubhouses for community activities.

Shuffleboard? Retirement communities have these, but I haven't seen any in all age communities.

Condo Conversions

Over the past few years, investors have been buying apartment complexes and converting them over to condos. In a nutshell, here's how it works. The investor buys an entire apartment complex and applies to the city to convert it to condos. They then give notice to the tenants, who usually get the option to buy their home or move out within a set time period. The new developer then will redue landscaping, pools and community areas. They'll start to redue units in blocks. They might break up the community in sections and keep renting to most of them and redue one section at a time. Therefore, when you want to buy a unit, you'll have to buy in the section that they currently are working on or wait.

Eventually, all the sections will be redone and the community will be completely turned over to home owners or investors.

Here's some things to think about when buying a Condo Conversion.

1. Is it a new project? Or is it close to being sold out? You take the risk that a new project will convert back to apartments. If they have to sell 300 units and have only sold 5 in 6 months, some investors have chosen to revert back. Will you have to worry about this.
2. Are there fire walls or noise reduction between the units? Buildings built as townhomes or condos usually have these features. Not all apartment complexes do. Is your condo conversion built well or on the cheap?
3. Is it mostly owner occupied or investor? If you buy in a community with mostly investors, arne't you really buying into an apartment community? Will you have trouble securing a loan when it's mostly investor owned and will you have trouble selling down the road for the very same reason?

What other unique things do we need to think about when buying a condo conversion? Please leave a comment and we'll update this post as needed.

Thanks, Pat