New Home Communities at Phoenix.org May 17, 2018

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

1

New Home Communities

Mom and dad are on home financing list for millennials

BY WAYNE SCHUTSKY

W

hen it comes time to buy a home, millennials are relying on their parents for financial assistance, including help coming up with the down payment and furnishing it.

An Apartment List study found that 17.1 percent of millennials nationwide expect to receive down payment assistance from their parents.

That figure is slightly lower in the Phoenix-metro, where 16 percent of prospective millennial homebuyers expect parental down payment assistance.

Ben Andrus, branch manager at On Q Financial in Gilbert, says he has seen younger buyers receiving down payment assistance from parents, though it is not at a significantly higher rate than in the past.

“What I am seeing is some buyers taking advantage of some of the down payment assistance programs from cities and counties,” Andrus says.

Those programs include the Chenoa Fund, the Home in 5 Advantage in Maricopa County and the HOME Plus Home Loan Program from Arizona Industrial Development Authority.

Even if parents are not helping with the down payment, they often contribute in other ways, says Christie Ellis of Ahwatukee, real estate agent and associate broker with United Brokers Group.

Ellis primarily operates in Ahwatukee, Tempe and Chandler.

“Most of the financial assistance I have

seen comes in with furniture,” Ellis says.

“I have seen younger buyers saying, ‘I can buy the house, but I can’t furnish the house.’”

Beyond financial help, parents also offer less tangible assistance, with many parents tagging along on house hunting trips and providing advice for their children.

“For the ones I have worked with, the kids are looking for their parents’ advice,” Ellis says.

That includes helping the first-time buyers decide which home improvement projects they can accomplish themselves and which homes will require a costly professional renovation.

In many cases, parents are the ones pressuring their adult children into home ownership.

Many millennials grew up during the last housing crisis and are hesitant to purchase a home, because of the negative effects it had on their family in the past, See

Millennials on page 2

Inside

PHOENIX.ORG NEW HOME COMMUNITIES Features

1

Pool Tech

3

Leader Awards

6

Community Map

5

On Phoenix.org/NewHome Dealmakers: Belfiore and Rose Featured Homes

Gilbert builder specializes in delivering craft homes

BY SHERRY JACKSON

C

raft homes in a craft neighborhood is a little different than the mega-subdivisions usually touted in the East Valley. And that’s exactly what sets Gilbert-based Porchlight Homes apart from the rest.

The home developer recently opened its newest craft community, Eastpoint, in Gilbert on the southwest corner of Power and Guadalupe roads. The gated neighborhood has 78 homesites with three floor plans and will feature a community pool with ramada, restrooms and barbecue grills along with greenspaces and pocket parks with tot lots.

“At Porchlight, we consider ourselves a craft builder, focusing on smaller communities and infill locations,” said Ryan Larsen, vice president of Porchlight Homes. “This enables us to put more

details into the home and to build a home that has more features than a comparable home in a neighboring community.”

The company was founded in 2010 and prides itself on its core focus of finding premier infill locations, while also appealing to entry-level buyers, Larsen aid. “Our main competitor isn’t the new home builder down the street. It’s the renovated home. That’s our competition.”

The two-story homes at Eastpoint will start in the $280,000s, a price point hard to find for a new home in Gilbert.

Three floor plans offer Spanish colonial, desert prairie and modern ranch elevations with 1,772 to 2,225 square feet of living space. Each home will have a twocar garage, 9-foot ceilings, hardwood cabinetry, granite countertops, stainless steel appliances, ceramic tile and private, fenced yards. Energy Star features in each home include a tankless water

heater, high energy-efficient natural gas furnace, dual-pane windows and WaterSense toilets and fixtures.

Porchlight Homes has built several communities (Courtesy Porchlight Homes) in the Valley Residence Two is one of three floor plans available at Porchlight Homes’ newbut only two est Gilbert community, Eastpoint. are active – Eastpoint as well as Lazy Day Manor in Phoenix. but is picky about where they build.

Larsen said the company has several “Eastpoint is a prime suburban other craft neighborhoods in the works, infill location in between two highly including a townhome community in Tempe and several in the West Valley, See Builder on page 2

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

2

THE DEALMAKERS

REAL ESTATE DISCLOSURES

The Opportunity Zone is a ‘rare gift’

BY JORDAN ROSE AND JIM BELFIORE

I

n just the last month, through the implementation of Trump’s tax plan, a compelling new tool to spur investment into property across Arizona has been adopted. The Opportunity Zone was created to promote investment in areas that states want to see further economic activity.

The tax bill allowed governors to submit for approval on various sites. In Arizona, Gov. Doug Ducey was approved for 168 sites that will provide a tax incentive for new investment. The law provides for a reduction or total waiver of capital gains tax if an investment is made into an O Zone location.

The O Zone promotes investment in assets like commercial property or land – pumping some serious oxygen and

opportunity into the Arizona market that didn’t exist a week and a half ago.

An interested investor would create his own O Fund and then direct the funds through that corporation to one of the permitted uses, or invest in a pre-existing O Fund.

The law is really quite broad and definition will occur over the next many months as guidance is issued at the federal level. The advantage is you are not taxed on the capital gains you invest into the O Fund to buy property until (1) the property is sold; or (2) December 31, 2026. The capital gains you will have to pay are reduced 10 percent when the property is held for five years and an additional 5 percent when held for seven years. In tax terms, this is referred to as a stepped-up basis.

If the fund owns the property for at least 10 years, you will pay no tax on

the appreciation of the property, other than the original deferred capital gains that must be recognized by December 31, 2026. So, you can see this is really compelling for anyone who has assets they might sell for a gain. If you purchase a commercial performing asset, there are requirements about necessary improvements you must make to get the advantage so it becomes a bit more involved than the land holding option.

In any case, many types of business can operate in an O Zone and the law details how each will be treated.

In just the month since the federal government approved Gov. Ducey’s suggested sites, we have collectively advised a wide variety of people and corporations on how to fully use this new (and really fantastic) tool. This ranges from the stock investor who has no property assets but intends to sell stock this

Builder from page 1

Millennials from page 1

sought-after schools. It’s close to the Loop 202 and U.S. 60. It’s a parcel of land that a lot of people have tried to develop over the years, but we were fortunate enough to secure it and offer this community,” Larsen said.

“It goes back to the passion of the owners and my partners,” he said.

“We really get a lot of satisfaction in creating something unique and special. We want to leave something behind that our homeowners and neighborhoods and Porchlight can all be proud of.”

For more information, visit porchlighthomes.com.

Andrus says. “(Millennials) have a bad taste in their mouth, so their parents are pushing them and telling them that home ownership is still a good investment,” he says.

Rising home prices, which have outpaced income growth for young people, is a major factor contributing to young homebuyers’ reliance on financial help from their parents.

Home prices have risen 75 percent since 2000 while incomes for younger households – those headed by someone under 35 years old – have only increased 31 percent over the same time span, according to the Apartment List report.

Andrus says the typical young buyer in

(Courtesy Porchlight Homes)

Eastpoint by Porchlight Homes will feature 78 homesites in a gated community at Power and Guadalupe roads in Gilbert.

JIM BELFIORE JORDAN ROSE year for a significant gain, to those who own property that is designated as an O Zone, and those who are selling property and want to invest their gains into an O Zone property to defer capital gains tax. Regardless of your political feelings about our current administration, we can all agree that this is a most rare gift from the federal government.

Jim Belfiore is president of Belfiore Real Estate Consulting.

Jordan Rose is president of Rose Law Group.

the East Valley is purchasing homes in the mid-to-high $200,000s.

“Many of them would buy at $150,000 if they could,” he says, adding that competition in the market has driven prices above that target purchase price.

Ellis says it is not uncommon to see 10 to 15 offers on a single property. That competition has driven young buyers to get creative, even going so far as writing “love letters” to home owners.

These letters include notes about how much they love the house and small gifts for the sellers.

“Anything to make their offer standout,” Ellis says.

Experience you can count on.

Belfiore Real Estate Consulting is Arizona’s leading, independent real estate research firm. The company provides data products and advisory services to those tracking current market trends- whether at a macro Metro Phoenix, Metro Tucson, or Northern Arizona level or within a particular community or specific competitive market area. Leading homebuilders, developers, appraisers, brokers, lenders, title companies, landscape management companies, retailers, and investors rely on Belfiore’s stats and projections.

As a full-service firm, Belfiore’s Team of analysts produces off-the-shelf advisory and data-tracking products, as well as Custom Market Feasibility Studies and Asset Management Reports.

Clients have access to award-winning, comprehensive, webbased software that contains five distinct pricing metrics for actively-marketed Arizona communities, incentive levels, inventory levels, lot information for inactive, planned pipeline communities, land and lot sales comparables, and much more.

Analysts visit and update data within every new home community in the Phoenix-area, Tucson-area, and Northern Arizona a minimum of six times annually, updating information with the company’s proprietary software.

3930 E. Ray Road, Phoenix, AZ 85044 480.706.1002 belfioreconsulting.com

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

TECHNOLOGY

3

SMART POOLS

Technology makes cooling down a little easier

BY SHERRY JACKSON

I

t’s pool season here in the East Valley.

So, whether you’re buying a new home equipped with a pool, having one constructed or upgrading a pool, there are many technological advances to make your pool smarter.

Smart monitoring

Taking care of a pool and hot tub can be time consuming, but new technology can make it a little easier. pHin offers a WiFi-enabled smart monitor and a mobile phone app to take away the guesswork when it comes to balancing water quality.

The monitor continuously checks your pool or hot tub water chemistry and temperature and notifies your phone when you need to balance your chemicals.

Once notified, you add pHin’s premeasured, single-dose, color-coded pods or get dosing instructions to use it with your own chemicals. The company also offers a one-touch pool service with a network of pre-qualified pool technicians with pre-negotiated pricing, if needed. phin.co/ Sutro is another company that offers a drop-in monitor with a smartphone application. The Sutro Smart Monitor can measure pH, free chlorine and alkalinity. The device stays on 24/7 and can predict your water chemistry.

The Sutro app tracks your chemical inventory and can automatically order more to restock. It also tracks how your pool is doing from historical testing and chemical dosage information and spot trends and issues before they happen. mysutro.com

Smart heating

Solar heating extends the swimming season, cuts down on chemicals needed and lowers or eliminates the cost of heating a pool. Tempe-based AquaScience does this via solar panels to harness the thermal energy of the sun. The company said there are no monthly costs after the solar collectors are installed. aquascienceaz.com Don’t want to invest in solar panels?

Solar Sun Rings are made from two sheets

of heavyweight, ultraviolet resistant vinyl.

The upper clear layer holds insulating air and focuses sunlight on the blue colored lower layer. The blue layer absorbs about 50 percent of the sunlight and converts it to heat. The balance of the sunlight can pass through for deep water heating.

You simply place the rings on top of the (Submitted photo) water in your pool when you need them. The Coral Manta from Coral Detection Systems solarsunrings.com watches pools 24/7.

Smart lighting

Lights are lights, right? Not necessarily.

IntelliBrite lights from PentAir offers LED color-changing lights that can change speeds and hues. The lights work with the company’s IntelliTouch or EasyTouch Control Systems and can be controlled via a smart device. pentair.com

CORAL MANTA DETECTION SYSTEM

Smart cleaning

What if you didn’t have to use all those different pool chemicals? The SpectraLight Ultraviolet Pool System harnesses the power of ultraviolet light to lower chemical levels, eliminate chlorine byproducts, and claims to make pools safe, healthy and easier to manage. The ultraviolet system destroys more than 99.5 percent of pathogens that may enter your pool and lowers chemical demand up to 90 percent, said the company’s website. spectralightuv.com/pool-uv-systems

Smart detection

Pool safety is important, especially if there are young children or pets around.

The Coral Manta from Coral Detection Systems, watches the pool 24/7 with its built-in underwater video camera, using computer vision and artificial intelligence technology.

The company said the Coral Manta was programmed to detect people in the pool, as well as their position and motion. Using this technology, it constantly analyzes the real-time video it captures from the underwater camera and whenever it identifies a neardrowning event it generates an alarm to all household members smartphone or tablet. coraldrowningdetection.com

SOLAR SUN RINGS ( Solar Sun Rings)

Solar Sun Rings heat your pool using the power of the sun.

(Submitted photo)

pHin offers a Wi-Fi-enabled smart monitor and a mobile phone app to monitor pools.

pHin SMART MONITOR

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

4

EastValleyTribune.com

|

Phoenix.org

|

Selling Now

Selling Now

New Home Communities @EVTNow

/EVTNow

$287,000 to $424,000 Family Oriented

$510,000 to $559,000 Family Oriented

4 bed, 3 ba/2,543 SF/3 car garage — Split floor plan can convert to up to five bedrooms. Plenty of storage and workspace built in. Front courtyard brings the outdoors in, and provides a peaceful sanctuary. This is the perfect combination of luxury living and soothing retreat.

4 bed, 3.5 ba/3,282 SF/4 car garage — Thoughtfully designed for today’s active family. Living spaces encourage family interaction, with a gourmet kitchen opening up to an expansive great room. A four-car garage gives you a place for cars, bikes, sports gear and more.

866-696-7432 sheahomes.com

RECKER POINTE Gilbert, AZ

Selling Now

THE RESERVES AT VAL VISTA, Chandler, AZ

866-696-7432 sheahomes.com

$296,000 to $389,000 Family Oriented

$250,000 to $309,000 Condo

3 bed, 3.5 ba/2,564 SF/3 car garage — This is a uniquely designed home. Master suite features an expansive bathroom and walk in closet. Full baths in each of the remaining two bedrooms provide plenty of privacy. Enclosed courtyard, designated hobby room and three-car garage.

2 bed, 2 ba/1,313 SF/1 car garage —Master suite features stunning bathroom and walk-in closet.

Additional bed and bath, generous indoor living spaces and a grand patio. Ground-level home provides easy access to garage and the great outdoors... perfect for anyone on the go.

GATEWAY QUARTER Queen Creek, AZ

866-696-7432 sheahomes.com

Selling Now

To find a new home, visit www.phoenix.org for communities, home listings, tour videos and more.

CARINO VILLAS Chandler, AZ

866-696-7432 sheahomes.com

$272,000 to $368,000 Condo 2 bed, 2 ba/1,432 SF/1 car garage — Charming single level condo. Covered patio for outdoor dining and entertaining. The master suite comes with a full bath and a roomy walk-in closet. Easy route to the community pool for those who like to enjoy a little fun in the sun!

VANTAGE

Selling Now Phoenix, AZ

866-696-7432 sheahomes.com

Hard work. Speed. Unmatched dedication.

Rose Law Group pc is a full-service real estate and business law firm practicing in and use, zoning, renewable energy, government relations and lobbying, administrative law, family law, transactional real estate, employment law, water law, Native American relations, ADA compliance, infrastructure finance, special districts taxation, business formation/corporation transactions, business litigation, cannabis law, school law, cyber-defamation, cyber-privacy, drone law, intellectual property, estate planning, asset protection, private

litigation, class actions and DUI’s.

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

We are honored to represent the top homebuilders, developers, solar companies, schools, businesses and cannabis companies in the country. We are attracted to successful

companies, and they to us because we know our role – to use the law and our creativity to help them achieve even greater success. We are a team motivated to make our clients team even better. We are a team energized by quick and positive resolution to complicated problems.

7144 E. Stetson Drive, Suite 300, Scottsdale, AZ 85251 480.505.3936 roselawgroup.com

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

5

East Valley Communities 87 202

McKellips Rd. Pima Rd.

MESA

Brown Rd.

TEMPE 60

Ellsworth Rd.

Power Rd.

Recker Rd.

Higley Rd.

Greenfield Rd.

Val Vista Dr.

Lindsay Rd.

Gilbert Rd.

Stapley Rd.

Southern Ave.

Mesa Dr.

Dobson Rd.

Broadway Rd.

Main St. Country Club Dr.

University Dr.

Alma School Rd.

44th St.

Scottsdale Rd.

101

40th St.

Thomas Rd.

GILBERT

McClintock Dr.

Rural Rd.

Kyrene Rd.

Priest Dr.

Guadalupe Rd.

Warner Rd. Ray Rd.

Chandler Blvd.

Williams Field Rd.

CHANDLER

Pecos Rd.

10

Queen Creek Rd.

Cooper Rd.

McQueen Rd.

Arizona Ave.

Ocotillo Rd.

SUN LAKES

eR d.

QUEEN CREEK Chandler Heights Rd.

Riggs Rd.

MARICOPA

ous

Germann Rd.

Power Rd.

202

Ritt enh

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

6

AWARDED

MARACAY’S HAWTHORN MANOR HONORED FOR GREEN BUILDING

BY CHRISTINA FUOCO-KARASINSKI

Maracay Homes’ Hawthorn Manor in Chandler was selected as the winner of the Innovative Project, Residential award at the U.S. Green Building Council (USGBC) Arizona’s 2018 Arizona Leader Awards in April.

Held during the USGBC’s sixth annual Heavy Medals Award Ceremony, the Arizona Leader Awards recognizes the state’s’ building owners, designers and construction professionals who have earned LEED certification. Achievement of LEED demonstrates a commitment to greater energy, water and waste savings and improves the health and well-being of building occupants and the surrounding environment.

“Maracay’s commitment to constructing environmentally friendly homes began more than a decade ago, and since then, we’ve increased our use of green technology and sustainable building practices in an effort to protect the environment and build a better quality of life for Arizona homebuyers,” said Stephen Burris, Maracay Homes product development manager.

The 84-home gated community is registered with the certification goal of the LEED Certified designation with the USGBC and will use 30 to 50 percent less energy than typical homes. The homes also meet the EPA’s Indoor airPLUS specifications and feature water-efficient fixtures, LED lighting, energy-efficient heating and cooling systems, and Energy Star appliances.

Maracay Homes’ Jade plan is featured at the Arizona homebuilder’s newest Chandler community, Hawthorn Manor. One of four distinct single-story floor plans within the gated enclave, the Jade plan offers 5 bedrooms, three and a half to four and a half baths and features options like a kitchen nook, extended master bedroom, walk-in shower in the master bathroom, 8-foot sliding glass doors in the dining area and twoway fireplace in the courtyard.

Maracay Homes’ Quartz plan is featured at the Arizona homebuilder’s newest Chandler community, Hawthorn Manor. One of four distinct single-story floor plans within the gated community, the Quartz plan features 4,007 square feet of living space with options like a 20-foot center pull sliding glass door at the great room, extended nook, laundry room sink with cabinets and raised vanities in all baths.

(Photos courtesy Maracay)

One of four distinct floor plans at Hawthorn Manor in Chandler, the single-story Jade plan offers five bedrooms, three and a half to four and a half baths and includes 3,651 square feet of open living space.

Luxurious features include this great room and living area that seamlessly folds into a spacious kitchen with granite countertops and stainless steel gourmet gas appliances.

The Quartz plan is one of four distinct single-story floor plans at Maracay Homes’ Hawthorn Manor community in Chandler, and features an extended patio with plenty of room for entertaining family and friends.

There’s a Website for That

Alternative companies offer technology-focused selling options

BY SHERRY JACKSON

T

here’s a lot that goes into buying a new home – choosing the right floor plan, checking out neighborhoods and schools and, oftentimes, figuring out when and how to sell your home. Do you put your existing home up for sale as soon as you sign the new home sales contract, or do you wait until it’s built? Maybe waiting isn’t an option, especially with mortgage qualification.

But what if your home sells quickly? Do you move twice?

Luckily, there are options. Selling your current home with a traditional Realtor is an obvious choice, but if you haven’t

bought or sold a home in a while, you may be surprised by the options that are available. Several new or “alternative” realty companies are competing in the East Valley market and offer online cash offers, flat fee options and the ability to pick a closing date. Here’s a look at a few.

OfferPad

(offerpad.com)

Brian Bair and Jerry Coleman teamed up in 2009 and created Gilbert-based OfferPad “to empower homeowners and provide convenience, control, freedom and certainty during their real estate transactions.”

Home sellers can go online and request a cash offer for their home through

OfferPad after filling out a form and uploading photos. Sellers can expect an offer in about 24 hours, said Cortney Read, director, communications and outreach for OfferPad. The property is assessed with local comps and algorithms that go down to a neighborhood level, she said. Home sellers can also choose their own closing date with OfferPad. “Everyone’s needs are different. Those who are wanting to move quickly can move quickly,” Read said.

Those buying a home can access and self-tour OfferPad-listed homes through its Instant Access app. They can also view home details and initiate an offer. In

addition, buyers can view other nearby homes, provide feedback or request an Agent-on-Demand to help them with the process if they choose.

OfferPad will also manage renovation processes if a home needs repairs before selling. OfferPad will move customers within a 50-mile radius at no additional charge. A partnership with Loan Depot allows customers to get qualified and then buy an OfferPad-listed home so they only have to deal with one company.

“The biggest advantage of going with a company like ours is you’re getting certainty,” Read said. “You have to look at See

Options on page 7

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018

the big picture. It can take three months (or more) to sell, do renovations, and continue to make mortgage payments.

There’s so much uncertainty until your house closes on what you’re going to net.

Also knowing when your house is going close is a huge sense of relief.”

Opendoor (opendoor.com)

Although headquartered in San Francisco, Opendoor’s first office, and its flagship location, opened in the Valley in 2014. Helmed by Glendale native Eric Wu, Opendoor has grown to more than 120 employees with the company continuing to balloon and invest in its Arizona operation.

Opendoor simplifies the real estate process by offering a quick sale online.

Homes can be bought and sold within 24 hours, with home valuation rates that are the best in the market, says Mark Won, head of customer experience. The company also offers a 30-day money back guarantee, so if you move in and don’t like the house, Opendoor will buy it back within 30 days, no questions asked.

“Selling a home is one of the most important things you do in your life and it can be a stressful experience,” Won said. “We were the first in this market to bring simplicity and control to the home selling process.”

Customers can go online and request an offer. If the homeowners accept it, they can select their closing date. There are no home showings, so sellers don’t have to worry about making repairs, tidying up and have strangers traipsing through their homes, Won said. “These are the things that really resonate with families.”

“Generally speaking, the fees we charge are comparable to what a normal real estate commission might be.”

If the company determines the home will sell quickly, the fees will be a little lower. If they expect to hold onto the home a little longer, the fees may be a little higher. Opendoor handles any repairs needed to the home after closing.

On the buying side, homebuyers can enjoy personal open houses on their schedule, he said. Opendoor’s app allows customers to check out any of their 600plus properties for sale in the Valley (269 in the East Valley in early May) on their schedule and allows them complete access into any Opendoor house for sale with no Realtor escort to coordinate.

“It’s a tremendous amount of convenience,” Won said.

Zillow (Zillow.com)

Known for its online presence as a place to shop and find homes, Zillow is still primarily a media company. But, Zillow has just launched its Instant Offer service in the Valley.

Like Opendoor and OfferPad, potential home sellers can go online and get an instant cash offer to purchase their home.

Zillow created the service for those wanting to sell, but who also want to avoid the selling process, said Jeremy Wacksman, chief marketing officer with Zillow. “You can get a sense of your home price with our Zillow Zestimate. But then come to Zillow, upload pictures of your home and fill out the form. Within 48 hours get a cash offer. Homeowners can really get an idea of what their options are.”

Wacksman said the company strives to get the cash offers “as close to market price as we can.” The company partners with agents and others to review the information submitted online, estimate the costs to sell your home and obtain the market value. Zillow also allows home sellers to pick their own closing date. Once a cash offer is accepted, a home inspection will be scheduled to verify the estimate is correct.

Zillow still pays commissions to agents on both sides of the transaction. “It’s a new concept for a lot of people and a majority are still going to list traditionally,” Wacksman said. With Zillow, they can choose either option.”

Instant Offer is still new in the East Valley market, but Wacksman says there is “really strong consumer interest.”

“The idea of having a choice, with no obligation, is super empowering for a home seller,” he says.

Redfin (redfin.com)

Redfin got its start inventing map-based searched and running ads for traditional real estate brokers. But the company decided to approach the real estate market differently using technology.

Redfin’s real estate agents are salaried instead of commission-based.

Sure, Redfin agents get bonuses, but it’s based-on customer satisfaction, not making the actual sale.

“Our focus on technology and value and putting clients ahead of commission is what makes us stand out,” said Matthew Frary, a Redfin real estate sales agent in the East Valley. “One of the biggest things we offer is the technology and tools that really streamlines the process.

Redfin.com is updated every 15 minutes so customers get good up-to-date info.

We save our customers a lot of money and even refund a portion of commissions to our customers.”

Because agents do not need to make a sale to pay their bills, they can focus on their clients’ needs to make sure they get the home they want, Frary said. “It’s a tailored, personalized service.”

With Redfin’s focus on tech, Frary said the company can pass along savings on the selling side, too, with listings as low as 1 percent instead of the traditional 3 percent. “That can make the cost savings significantly lower,” he said. Redfin also provides a listing dashboard with details on showings and offers premium placement on its website for listing customers.

“We’re redefining how real estate is done,” Frary said. “People don’t want to be sold a house. They want an honest customer advocate. It’s about transparency. Its about doing the right thing by our clients and its changing the tide.”

Sunset Bronze Collection

Homie (homie.com)

Johnny Hanna, founder and CEO of Homie, said consumers looking to buy and sell homes end up doing a lot of the work themselves.

The Utah-based Homie is entering the East Valley market. The company offers a flat-fee listing service to home sellers with the average fee just under $2,000, Hanna said. “We are Realtors. We are lawyers. We give you all the things a traditional agent gives you, including an assigned agent, it’s just a better experience and saves money.”

Homie’s pitch is the staff helps “list your home, market it, and negotiate with buyers to get the best possible offer.” The home seller does most of the work taking phone calls, scheduling showings and even handling offers.

Homie still feels like a full-service

B E S T. D E C I S I O N . E V E R .

M E S A & S C OT T S D A L E F E RGUSON S H OWROOM S .COM

©2018 Ferguson Enterprises, Inc. 0418 814044

Options from page 6

7

brokerage, Hanna said. “Anytime our customers need assistance, we’re there.” But the dynamics have changed.

“Technology has changed, but the role of the traditional agent hasn’t changed.

Traditional agents were once compensated because they did all the work,” he said. “Now, consumers are doing much of the transaction on their own.”

On the buying side, Homie will refund up to $5,000 of the real estate commission. The company also has technology to request tours or submit an offer from your smartphone. “When you go into a home listed by Homie, you’re a far more attractive buyer,” Hanna said. “The savings is just a cherry on top.” Homie also has a mortgage company, homie loans, where costs “are dramatically different” and can save customers money, he said.

8

THE SUNDAY EAST VALLEY TRIBUNE | MAY 20, 2018