Negotiating Tactics That Will Kill A Sale

Bargaining is a subtle art in real estate and the way you handle the back and forth that happens during contract negotiations can make or break a sale. Skilled negotiators can usually find some common ground that satisfies all parties and helps close a home smoothly, but if you’re not careful, a wrong move could cause a deal to crumble for the seller or buyer.

Here are some negotiation tactics buyers and real estate professionals should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.  This can leave a bad taste in their mouths in regards to you as a buyer and cause them to not want to accept any other offers you may make. Keep this in mind when you want to make a low ball offer and your agent advises otherwise. They have seen the downfalls of this tactic many times and are just looking out for you best interest.
  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). Fighting over a small dollar amount makes you look bad and makes the seller think you will be a difficult buyer to work with. The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it. People do not like to be given ultimatums and will not feel happy if they feel you are painting them into a corner.
  4. Nitpicking after inspection: Obviously if the inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate. Buyers must understand that unless they are buying a newly built home, every house has it’s little quirks of wear and tear from years of use. Combing the house with a magnifying glass and demanding it be in perfect condition could lead to the seller refusing to do ANY repairs, therefore leaving you as the buyer to do them all yourself, or walk away from the home that you possibly really like.
  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy. There should be realistic give and take on both sides of the contract to help foster a good relationship during your escrow, and help make everything go smoothly.

These are just a few things you want to avoid while negotiating a contract in order to not kill the sale. Remember that if your agent advises against these tactics, they are speaking from experience and out of their best interest for you.

Ways to Celebrate Mother’s Day in Prescott

First off, Happy early Mother’s Day to all our mother’s out there! We appreciate you and all you do for your loved ones and community. As an office mostly comprised of women, almost all of whom are mothers, the Kathleen Yamauchi Group has a lot of experience with mothers day.

Living in Prescott, there are plenty of things to do to help celebrate your Mother’s Day holiday this Sunday. Whether you are a husband, son, or daughter, looking for some good ideas on how to treat your mother; or a mom looking for some good ideas on how you’d like to be treated this Mother’s Day, we’re here to help.

Below are some events taking place this weekend to help you celebrate, some good eats in town, and even some gift ideas if you need help with that.

Prescott Events

Mountain Artists Guild Fine Art and Wine Festival

When: Saturday May 11th at 9AM to Sunday May 12th at 4PM

Description: The Festival is held on Mother’s Day Weekend every year, which makes it a wonderful destination event for Mother’s Day! Come experience a beautiful weekend under the shade of the big trees of Prescott’s Courthouse Square. In addition to spectacular collectors’ artwork, the Festival presents an Arizona wine garden and marketplace featuring ten of Arizona’s finest Vineyards and Wineries. Each day guests can purchase their wine tasting tickets and receive their souvenir wine glass.

15th Annual Mother’s Day Wine and Art Festival

When: Saturday May 11th at 11AM to Sunday May 12th at 5PM

Description: This year, celebrate with Mom at Granite Creek Vineyards for our 15th Annual Mother’s Day Wine and Art Festival! Saturday May 11th and Sunday May 12th enjoy a fabulous weekend featuring award winning wines including a special new release, talented local artists, free face painting for the kids, and great live music! A delicious lunch is also available for purchase from Block Six Catering. $14 Admission ($7 Case Club) includes wine tasting, souvenir wine glass, art fair, and live music. Live Music from 12PM to 4PM on May 11th. For more information call 928-636-2003.

Board and Brush

This one isn’t actually an event, but it would be a great way to celebrate with mom this Mother’s Day. At Board and Brush, bring your own wine and enjoy time spent with friends and family while you make your very own rustic sign for your home. There are a plethora of options from kitchen signs, welcome signs, motivational signs, and so much more. Located in the heart of downtown, there will be plenty of restaurants and things to do when you are done with your sign. For more information, call Board and Brush at 928-899-5524.

Good Restaurants in Downtown (Some good places to take mom out for a bite to eat for either lunch or dinner, or both!)

Park Plaza Liquor Deli: Pizza, Fries, Sandwiches, and more. 928-541-9867

El Gato Azul: Seafood, Mexican food, and Salads, they have it all! 924-445-1070

Rosa’s: Italian food at it’s finest! 928-445-7400

Prescott Brewing Company: The best of the best of Pub Food. 928-771-2795

Farm Provisions: Burgers, Seafood, Sandwiches, Soups, and more! 928-776-3001

Bill’s Pizza: Considered to be possibly the best pizza in town! 928-443-0800

Tara Thai: Fine Thai cuisine. 928-772-3249

These are just a few of some of the really good dining options for the downtown Prescott area – trust us, there is so much more! Good food in Prescott for even more options.

Gift Ideas

Flowers: Very traditional, but always appreciated. This classic gift is sure to please your mom and make her feel special. Good places to get flowers would be Trader Joes or Sprouts, or if you’re looking for an actual arrangement, call Alan’s Flowers at 928-445-5131.

Household Chores: We’re sure if you’re short on cash, mom will understand, but that doesn’t mean you have to do nothing. Many of the women in our office have mentioned how much they appreciate extra help around the house as a Mother’s Day gift. Yard work, cleaning, doing the dishes, doing the laundry, and the list could go on and on because we all know how much our mother’s do to keep things running smoothly. Try taking over some of these tasks this weekend as a gift to your mom. She will love the extra help and the extra time she’ll then have to relax.

Gift Card: Don’t underestimate the good gift that is a gift card. When mom receives this, she gets a gift card to her favorite store and is able to buy whatever she needs or desires. This may seem less personal, but we promise you it’ll be well received when paired with some flowers, or another personal gift, or even on its own with a great card!

 

We hope this article gave you some good ideas on how to celebrate Mother’s Day in Prescott this weekend and again, Happy Mother’s Day to all you mothers out there! We hope you have an amazing day!

Prescott’s Whiskey Row Marathon

If you were around last weekend, you got to be a part of or witness Prescott’s beloved Whiskey Off-Road Bike Race. A weekend full of bicycle races, live music, beer, and so much more, it was a fun time for all who attended.

This coming weekend, as in tomorrow, Prescott is hosting the flip side of the Whiskey Off-Road bike race, which is the Whiskey Row Marathon. If you go to the Whiskey Row Marathon’s Website (whiskeyrowmarathon.com), you’ll first see a countdown letting runner’s know they have only 13 and a half hours left until their race as of right now! Of course, this time will vary depending on when you visit the site page.

The race starts early Saturday morning, May 4th, with various race times. The full marathon starts at 6:00AM with an early start at 5:00AM for those who might need more than 6 hours to finish the race (the course closes at noon). The half marathon starts at 7:00AM and the 10k at 7:20AM. Lastly there is a 2 mile fun run/walk that starts at 7:15AM.

This race has been a running tradition in Prescott for over 40 years and has been dubbed one of the toughest races in the country with its rugged terrain and high altitude of one mile above sea level. Racers will find themselves in for a real challenge!

This race isn’t just all about the fun though, it is actually put on every year for a very good cause! Below is a statement from Prescott’s YMCA detailing why this race is so important for the community.

“The James Family Prescott YMCA is a 501(c)(3) non-profit, community-focused organization. The Whiskey Row Marathon is our largest fund raiser for program scholarships which help families in our community. Proceeds from this race go directly into the scholarship fund at the YMCA to assist children and families in financial need to participate in child care, swimming lessons, youth sports and gymnastics classes. Without your participation and the community support for the WRM Races, our local families in need may not have a chance to make sure that their children flourish, even in times of economic hardship. At the Y we do not turn participants away for the inability to pay for our programs and we believe that all children have the equal right to learn water safety, Early Learning Objectives, character values and have opportunities for success in the intramural athletics. Your participation in this race not only promotes your personal health, but also promotes the overall health of the Prescott Community.”

We here in Prescott love our community and we love giving back to our community as well, which shows abundantly in businesses like the YMCA that seek to help the members of their community in any way they can.

Go downtown and cheer on those running in this race, then enjoy a relaxing morning at one of the many breakfast diners or coffee chops downtown.

For more information, you can also visit the city of Prescott’s website by clicking here.

 

Prescott’s Whiskey Off-Road!

This coming weekend, April 26th through the 28th is Prescott’s beloved event, The Whiskey Off-Road. What this event is mainly about is every mountain bikers dream – an extensive and challenging race through some of Prescott’s most scenic mountain scapes. Starting in downtown Prescott, the course climbs through Prescott National Forest and past beautiful picturesque views of our favorite town. The course includes both dirt and paved sections, and takes participants through some of the best single and double track trails.

Beginning Friday with a community concert to kick off the event, downtown Prescott will be alight with festivities including live music and all the fun things there are to do around downtown (great food, good bars and coffee shops, delicious desert places, and plenty of antique shops to keep you busy!).

During your visit to Prescott as either a participant or spectator, enjoy three fun-filled days of event festivities and being submerged in the mountain bike industry. Mingle with the most bike-minded people you’ll ever encounter while appreciating the area’s wild west heritage and feeling welcomed by its modern day appreciation for the outdoor enthusiast.

Up to 96% of participants finish the race and are greeted at the end with a well-earned commemorative pint glass emblazoned with the distance they’ve completed on it. After the race, there is also a Downtown Music Festival with free live music, a cold beverage (gratis) from Four Peaks Brewing Company, and the comfort of the entire downtown Prescott lawn waiting to be enjoyed. This is a finish line that will make every mile worth the effort!

All of this event information is only half the entertainment! See below for a schedule of events with things to enjoy during The Whiskey Off-Road this weekend! Have fun!

Event Schedule:

Thursday, April 25th

4p – 5p:  Kate Courtney Speaking at the Hendrix Auditorium – Mile High Middle School

Friday, April 26th

12p – 7p:  Bike & Gear Expo Opens
12p – 9p:  Amateur Packet Pick-Up: Whiskey Row
2p:  Mandatory Pro Racers Meeting p/b Stan’s NoTubes & Pro Packet Pick-Up: Hassayampa Inn – Arizona Room
2p:  15 Proof Fun Ride: Whiskey Row
2p – 8p: 
Four Peaks Brewing Co. Beer Garden Opens on Cortez St.
3:30p:  Swing by the Stan’s NoTube Expo Tent for a free sealant refresh
4p:  Time Cut-Off: 15 Proof Participants (Aspen Creek Aid Station)
5:15p:  Pro Women El Yucateco Pro Fat Tire Crit: Cortez St. (20 min + 3 laps)
6p: 
Pro Men El Yucateco Pro Fat Tire Crit: Cortez St. (20 min + 3 laps)
7p: 
Four Peaks Brewing Co. Criterium Awards
7p:  Mandatory Stan’s NoTubes Amateur 30 & 50 Proof Riders Meeting: Main Stage

Saturday, April 27th

7:30a – 7p:  Bike & Gear Expo Opens
9a – 4p:  Register for the Yavapai Regional Medical Center Kids’ Fun Ride: Registration Tent
7:30a:  Wave 1: 50 Proof Backcountry Ride: Whiskey Row
7:45a:  Wave 2: 50 Proof Backcountry Ride: Whiskey Row
8:30a:  Wave 1: 30 Proof Backcountry Ride: Whiskey Row
8:45a:  Wave 2: 30 Proof Backcountry Ride: Whiskey Row
9a:  Wave 3: 30 Proof Backcountry Ride: Whiskey Row
10a – 9p:  Four Peaks Brewing Co. Beer Garden Opens on Goodwin St.
12p:  Stop by the Maxxis Tent for a chance to win a free tire!
12p – 4p:  Yavapai Regional Medical Center’s Free Bike Decorating Party at the Holiday Courtyard
12:30p:  Time Cut-Off: 30 & 50 Proof Participants (White Rock Trail Head Parking Lot)
4p:  Concludes 30 & 50 Proof Participants
4p:  A Toast to the Over the Hill Gang
4p:  Four Peaks Brewing Co. Amateur Awards Party: Main Stage
6:30p:  Raise A Pint to our Dedication Recipient: Main Stage
7p:  Roger Clyne and the Peacemakers

Sunday, April 28th

7:30a – 2p:  Bike & Gear Expo Opens
7:30a – 8:45a:  Register for the Yavapai Regional Medical Center Kids’ Fun Ride: Registration Tent
8:30a:  Pro Men Backcountry Race: Whiskey Row
8:40a:  Pro Women Backcountry Race: Whiskey Row
9a:  Yavapai Regional Medical Center Kids’ Fun Ride: Whiskey Row 4 Proof Start
9:05a:  Yavapai Regional Medical Center Kid’s Fun Ride: 2 Proof Start
9:10a:  Yavapai Regional Medical Center Kid’s Fun Ride: ½  Proof Start
10a:  Free Yoga at Barley Hound – Instructed by Rachel Peters
10a – 2p:  Four Peaks Brewing Co. Beer Garden Opens on Goodwin St.
1:30p:  Four Peaks Brewing Co. Pro Awards Party: Main Stage

 

Sharp Declines In Home Bidding Wars

If you have been looking to buy a home in the past few years and perhaps even put in a few offers on homes, then you know it has been a buyer eat buyer real estate world out there!

Homes would hit the market and instantly have multiple offers on them (if they didn’t already have offers on them before technically even being on the market). There were so many people looking to buy that the market had become incredibly competitive for buyers, yet also incredibly good for sellers who had their choice of highest and best offers to pick from.

You can imagine how these situations would be extremely frustrating for buyers who would be constantly outbid or their highest and best wasn’t as good as someone else’s highest and best.

Well, according to the National Association of Realtors, the amount of competition in Real Estate as we come into these Spring and Summer seasons will mostly likely be seeing a decline.  “There will likely be less competition for home buyers this spring—a widely reported index from Redfin shows a significant decrease among real estate professionals reporting bidding wars this month, compared to a year ago. Only 16 percent of offers written by Redfin agents on behalf of their customers in the first three weeks of March faced a bidding war, down from 61 percent a year ago, according to the brokerage’s index.”

This is good news for buyers because your chances of getting into a bidding war when making an offer on a home have sharply declined. This means you don’t have to come in at the very tip top of your home buying budget just to have a hope and a prayer of getting the home you have your eye on – you could possibly make a more reasonable bid and have it accepted because there isn’t another buyer breathing down your neck.

In Phoenix, the amount of offers that faced competition was at 41% in March of 2018. That number has gone down to just 14% calculated in March of 2019. Prescott is a lot different than Phoenix market wise, but agents here have noticed a decline in bidding wars as well, which means if you have been wanting to buy in Prescott, Arizona, now might be the time!

If you are looking to buy a home, or even sell a home in Prescott, you should give us a call! Working Real Estate in the community for the last fifteen years, we have a lot of experience and would love to help you in your next Real Estate transaction. 928-771-1111.

 

Easter Weekend in Prescott, Arizona!

Today is Good Friday and as we end our week we look forward to a weekend of fun and festivities celebrating the Easter holiday on Sunday.

If you’re looking for some classic Prescott events to attend to help you celebrate the weekend, our town, of course, does not disappoint.

Town Events:

On Saturday April 20th there will be an Easter Egg Hunt at Prescott Mile High Middle School starting at 11am and going through to 1pm. The school is located at 300 S. Granite Street, Prescott, AZ 86303. The Easter Egg Hunt will be fun for the whole family, especially your little ones as they search for colored eggs for this traditional holiday event. Once the Easter Egg Hunt is over, there is plenty to do with the event being so close to downtown. Grab a drink at one of the local coffee shops, or perhaps a dessert snack at an ice cream shop like Frozen Frannies. Enjoy a bite to eat at one of the many delicious restaurants in the downtown area with food so good it’ll make your mouth water. The weather will be seventy five degrees and sunny, the perfect day to be outdoors and enjoying the beautiful Prescott Spring weather.

Another Egg Hunt event going on in Prescott will be on Sunday April 21st and is called the Eggstravaganza. Taking place at Heritage Park Zoo near Willow Lake (address: 1403 Heritage Park Road, Prescott, AZ 86301), the event is free after paid admission to the zoo. Adults ages thirteen years and up cost $10, and children ages three to twelve cost $6. The gates open at 10am and there is a schedule for the egg hunt based on age to make sure even the youngest of participants get some eggs and get to enjoy the event. Ages 0-3 years old start at 11:30am. Ages 4-6 years old start at 12:30pm. Ages 7-9 years old start at 1:30pm. Lastly, ages 10-12 years old start at 2:30pm. There will also be special Easter treats for the animals, a scavenger hunt, concessions, raffle, and much more! Remember to bring your children’s Easter Baskets so they can collect eggs on the lawn (note: the eggs are unfilled for the health of the animals – after the children collect eggs, they turn them in for a goodie bag filled with candy and toys).

Worship Events:

For those who celebrate the Easter holiday not only with Easter Egg Hunts, but also as the remembrance of Jesus Christ dying on the Cross and rising again, there are events for you too! With numerous churches around town, there are plenty of Easter service times to choose from to celebrate the holiday with your family. Two of the biggest churches in town, Prescott Christian Church and Heights Church, have Easter service times for your needs. If you’re looking for options on Church service times, Prescott Christian is the place for you. With services on Saturday at 4pm and 5:30pm, and on Sunday at 9am, 10:30am, and 12pm, you are sure to find a time that suits your busy Easter schedule this weekend. They even have a café with coffee, donuts, and tea for you to sit and enjoy your Easter evening or morning.

The Heights church has a few less services with only two on Sunday, but one of those services is a giant festivity at Watson Lake. The first one is at the Heights Church starting at 5:45am, which is their traditional “sunrise” service that takes place outside at the giant cross on their property. The second one begins at 10am at Watson Lake Park with the entire recreational area being rented out for the event. Everything is free, including parking and food. There will be coffee, breakfast snacks, and lunch. After service, enjoy the meal and bring your own chairs/blankets for seating in the gorgeous weather.

 

How AZ Realtor Association Advocates For You!

Below is a video posted recently by the Arizona Realtor Association. A little cheesy and full of realtor humor, but also full of information on just how Realtors have fought for the people over the years.

“The Arizona REALTOR® Party saves you $1000’s every year by advocating for you and our 50,000 REALTORS®, your clients, and property owners.”

Enjoy!

Why Should You Use a Real Estate Agent to Buy or Sell?

With websites around today such as Realtor.com, Trulia, and Zillow, many buyers and sellers tend to think, “Who needs a real estate agent?” The answer is everyone!

Even though these websites are extremely user friendly and can make the whole real estate process seem like a piece of cake, the truth is there is so much more that goes into a real estate transaction other than finding a home, or selling your home.

While it might seem like we are being a little biased on the topic, hear us out! This is probably the biggest financial decision/investment you will ever make. That’s a big deal! Here are some reasons why we believe it is so important to use an agent rather than try to venture the industry of real estate alone.

Real estate Agents have a ton of experience: “Want to check the MLS for a 4B/2B with an EIK and a W/D? Real estate has its own language, full of acronyms and semi-arcane jargon, and your Realtor is trained to speak that language fluently,” notes Realtor.com. This isn’t exactly an end all reason to use an agent, but wouldn’t it be nice to be working with someone who knows what they’re doing rather than scratching your head in confusion and having to look things up at every turn? What if you miss something, or overlook something? Well, an agent is paid to avoid exactly that! They are also very familiar with the dozens of lengthy contract forms you will be required to sign both as a buyer and a seller, and help you navigate those wordy jungles so you fully understand what it is you’re signing exactly. Any mistake could end up costing you financially, legally, and emotionally. Real estate agents work hard to prevent that.

They have access to all the best home searches: With websites like those mentioned above, realtors and the public alike have access to them, and there are so many places to look for homes on the internet. However, realtors have even more! They have access to the MLS (Multiple Listing Service), which every home has to be listed on except FSBO (For Sale By Owner) – see what we mean about the acronyms? Realtors also often have some homes not yet on the market they could show you, giving you a jumpstart on any new listings. Good local realtors also know their areas better than anyone and will be your best resource for finding a home in the neighborhood and price range you want.

They’re master negotiators: When looking to buy or sell a home, you better believe there will be some negotiating involved in today’s real estate market. Depending on the home, there could be a lot of competition, all cash offers, bidding wars, and more. Do you want to try to traverse these waters alone, or would you rather have a knowledgeable and experienced agent at your side that has dealt with these types of situations before? Your realtor will always have your back, fight for you, and look out for your best interest to make your transaction as smooth as possible.

They know everyone: After years in the real estate business, real estate agents know the best people when it comes to buying and selling homes. Mortgage companies, real estate attorneys, Escrow companies, home inspectors, and the list could go on and on. Real estate agents will know who’s the best, who they’ve had trouble with in the past, and everything in between. This expertise is priceless considering a bad home inspection could cause a home to fall out of contract, or a mortgage company that isn’t on the ball could delay closings.

They have to stick to a strict code of ethics: Not every licensed real estate agent is a Realtor. A Realtor is an agent that also belongs to the National Association of Realtors (NAR), which is the largest trade group in the country. To be a Realtor with NAR, you have to adhere to a strict code of ethics that not only protects the agents, but also protects the buyer and sellers from any agents looking to take advantage.

They wear a lot of different hats: A Realtor is a parental voice, data analyst, therapist, expert, and so much more. They do a lot of work to earn their commission even though it might not always look like it. They are constantly looking for new homes for their buyers and using their own money to market their seller’s homes. They drive around neighborhoods and towns with you to make sure you find exactly what you are looking for. They do a comparative market analysis (CMA) on your home to see what you could possibly sell it for to make sure you are getting the most out of your investment. They are texting, calling, and e-mailing at all hours of the day. This is not a 9-5, Monday-Friday job. It is 24/7 all week long job because your real estate agent wants to be there for you!

We hope some of these reasons make sense and that in your next real estate transaction, you’ll consider using an agent.

If you’re looking for an agent’s assistance now, or have any questions about what it looks like to use an agent, give us a call. We’d love to help! 928-771-1111.