10 minute read
Kids Corner
BACK TO SCHOOL: INDOOR MUSEUMS PROVIDE EDUCATIONAL FUN AND ADVENTURE IN PHOENIX
By Jill “MamaBug” Frier
With the summer heat and monsoon still in progress for the next few months, it’s a good time to find fun and educational indoor activities for kids to do on the weekends while easing back into the new school year. Here are some excellent museums that educate and stimulate learning, while also being fun, interesting and highly entertaining for kids and grownups alike.
MUSICAL INSTRUMENT MUSEUM
The Musical Instrument Museum is an unexpected and breathtaking surprise for first time visitors. Also known as the MIM, this two-story, state-of-theart facility is a showcase of instruments and music from every genre and almost every country in the world. The MIM displays more than 6,500 instruments, allowing visitors to see and hear music and instruments from around the globe. The museum also provides visitors a hands-on experience of playing different instruments, one of Ladybug’s favorite areas of the MIM.
The MIM is open daily 9:00 am – 5:00 pm and provides a number of children’s programs, concerts and other musical adventures for visitors of all ages. Located in the Desert Ridge area, immediately south of the 101, this museum is definitely worth a visit.
CHILDREN’S MUSEUM OF PHOENIX
The Children’s Museum of Phoenix provides a fantastic world of creative fun, playtime and imagination for kids everywhere. Recognized as one of the top three children’s museums in the nation, the Children’s Museum is a perfect place to learn, create and play for kids from birth to about 10 years old. Kids can climb, run, touch, feel and pretend throughout the building, located in the remodeled and historic Monroe School Building in downtown Phoenix, on the southeast corner of 7th Street and Van Buren. Open daily 9:00 am – 4:00 pm, the Children’s Museum of Phoenix offers a variety of children’s educational programs, ranging from math and science to music and art. Ladybug raves about this museum to everyone - take a trip downtown to visit the Children’s Museum and your kids will thank you!
HEARD MUSEUM
The Heard Museum in downtown Phoenix is a fascinating, world-class exhibition of Native American art and culture. Recognized internationally for the quality and size of its collections, exhibits and programs, all Phoenicians should at some point take time to visit this historic and cultural Southwestern icon in Arizona. The Heard has a variety of educational exhibits specifically designed give children a hands-on understanding of various Native American tribes and cultures. Fun activities for kids include crafts, artwork, and interactive stations for learning. The museum is open Monday to Saturday from 9:30 am to 5 pm, and Sundays from 11 am to 5 pm. Be sure to check out the latest events and happenings at the Heard Museum, includ-
CHARITY
ing art exhibitions and discussions, discounted and free entry days and one-of-a-kind festivals throughout the year.
Watch Ladybug’s Blog for more ideas at www.LadybugsBlog.com
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COMMERCIAL REAL ESTATE COMMERCIAL REAL ESTATE QUESTIONS? Q & A: ASK CHRIS KEELEY
What is a saleleaseback?
In the typical sale-leaseback, a property owner sells real estate used in its business to an unrelated private investor. Simultaneously with the sale, the property is leased back to the seller for a mutually agreed-upon time period, and at a rate acceptable to the investor; a typical lease rate today might be equal to a 7 percent to 7.5 percent return on investment.
What are the benefits to the Seller?
With a sale-leaseback, the seller reclaims use of the capital that otherwise would be tied up in property ownership, and at the same time retains possession and continued use of the property for the lease term.
The seller usually receives more cash with a sale-leaseback than through conventional mortgage financing; in a typical transaction with both land and improvements, the seller receives 100 percent of the property’s market value (minus any capital gains tax). In comparison, conventional mortgage financing normally funds no more than 70 percent to 80 percent of a property’s value.
The seller usually can structure the initial lease term for a period that meets its needs without the burden of balloon payments, call provisions, refinancing, or the other issues of conventional financing. Moreover, the seller avoids the substantial costs of
conventional financing such as points, appraisal fees, and some legal fees.
The main tax advantage of a valid sale-leaseback is that rental payments under the lease are fully deductible. With conventional mortgage financing, a borrower deducts interest and depreciation only.
Why Do Prospective Tenants Get Lease Quotes in Dollars or Cents?
Commercial real estate people can sometimes really confuse tenants when we are giving lease quotes. Usually it is unintentional and it typically happens when tenants and real estate people are discussing office space and industrial space.
Office space lease quotes are generally discussed in annual terms. For example, a client is looking at a 5,000 square foot space and is quoted a lease rate of $10.80 per square foot. The client then walks across the street into an industrial park and the real estate professional quotes him an industrial lease rate of $0.90 per square foot for his / her 5,000 square feet. Now these two quotes don’t sound the same but in fact are the same amount but one is quoting annual rent and one is quoting monthly rent. To convert one to another, simply divide the annual rate by twelve or multiply the monthly rate by twelve to compare apples to apples. It certainly can be confusing to the new tenant out there in the market place but any real estate professional can quickly make the conversions and explain the process so that tenants can make accurate comparisons easily.
RESIDENTIAL REAL ESTATE
PREPARING YOUR HOME FOR THE MONSOON
By Brooke Hoyt
Arizona’s monsoon has arrived. The season can damage your home and drain your wallet. Simple maintenance can prevent the headache of future repairs. At Platinum Home Warranty, we’re dedicated to educating our customers on how to protect their home.
Without a home warranty, replacing damaged appliances can cost thousands of dollars, and a last-minute repair can cost hundreds. Before you need to spend money on repairs, here are some tips to protect your home during these massive storms.
If lightning strikes your home during a monsoon and you’re not prepared, it can cause some serious damage. Connecting electronics to high-voltage surge protectors can help prevent damage caused by strikes. The sheer power of lightning can short electrical systems, potentially damaging
valuable appliances and electronics if not protected.
Basic clean ups in the backyard before blustery winds hit can help prevent a home from being swallowed in debris. A clean yard prevents leaves and trash from going in a clean pool and clogging pool pumps. A cover over your pool is a simple and easy fix to make sure leaves and other trash stays out of it.
Valley storms can prevent outdoor A/C units from operating at peak efficiency. After a dust storm passes, turn off the unit’s power and spray it down with a hose to keep it running efficiently. If your electricity goes out, give the A/C unit time to reset itself when the power comes back on before you call your home warranty company. Sometimes this can take up to 10 minutes.
Be sure to prepare your home for the worst this monsoon. Nature has a mind of its own and most home warranties do not protect against “acts of God”. Following the steps listed above will help prevent the need for repairs. For more information on how to best protect your home during Arizona’s monsoon, visit our blog at www.platinumhw.com/blog.
Brooke Hoyt is the Vice President of Operations at Platinum Home
Warranty, a locally owned and operated company located in Scottsdale. Platinum employs their own service technicians for most trades, offering home warranties and a full retail division to meet the needs of homeowners in metropolitan Phoenix. To learn more about how Platinum can help you and your clients, head to www. platinumhw.com.
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