Conrad Walton flips houses in Prescott, so he got a real estate license to save money on commissions.

Beware of the Flip | Realtor Magazine

But now, Captain notes changes: “Low inventory and many buyers’ eagerness for new construction and remodeled homes has caused some buyers not to do enough checking,” at least in Chicago, he says. And some buyers don’t insist on an inspection if sellers won’t permit it as a contingency, adds Frank Lesh.

Read the entire article at: realtormag.realtor.org/

This article is right. It’s tempting for a flipper, like me, to just do the bare minimum to get a sale and make a buck.

If you are buying a flip, you need to inspect it thoroughly, find out what was done, and not done, and find out as much history as possible.

If you want to look at our current flip at 4955 Iron Springs Road, there are photos of the build so you can see what was done.

In our case, we did just about everything.

Don’t take anyone’s word for anything. Check yourself. Get the documents. See the photos.

This is real estate. Don’t trust anyone.

We’re Legal to Fly Drones for Aerial Video!

Our Section 333 Exemption

Walton Communications, LLC, our company, got our FAA Section 333 Exemption on Feb 11, 2016!

Here is the official FAA site that lists everyone who has received an exemption:
http://www.faa.gov/uas/legislative_programs/section_333/333_authorizations/

Here’s the direct link to our specific exemption on the FAA site:
www.faa.gov/uas/legislative_programs/section_333/333_authorizations/media/Walton-Communications-14817.pdf

Because we got it as a company and not just an individual, we can have anyone fly a drone for us, under our exemption, at our direction.

We plan to hire multiple people to fly for us so we don’t have scheduling constraints.

If you have a pilot license and want to get paid to fly a drone, please contact me.

What is a Section 333 Exemption?

Continue reading We’re Legal to Fly Drones for Aerial Video!

Dealing With The Prescott Building Department

The Building Department

When we started our latest remodel, which is the most extensive that we’ve done to date, I was told by a few people that it matters who you talk to in the building department.

There are some very, very nice people working in the Prescott building department. They are very helpful and encouraging, willing to take the time to explain and help you with whatever you need.

Plan Ahead

Before you can talk to the city, you need to have drawings created. Before you can have drawings created, you need to decide on the new design, what you are going to change. That implies that you need to know how much things will cost.

So, backing up to the beginning, I just want you to know that everything takes longer than you expect, even the stuff that you are responsible for. You are not as fast as you think you are.

OK. Maybe it’s just me that’s slow and you really are good at it, but I thought I was good when I started too. Continue reading Dealing With The Prescott Building Department

How To Set The Right Asking Price

Art of the Deal

Things are not what they seem.

We went to an art fair in the square. (In Prescott, there is something in the court house square every weekend, all Summer long.)

My wife loves this one artist and fell in love with a painting he did of the Grand Canyon.

By the way, the artist is another Californian that moved to Prescott. He graduated from Long Beach State.

They wanted $850 for the painting. I didn’t want to pay that much, but I love my wife and I would pay anything to leave with that painting.

It had a frame on it that we weren’t in love with, so I asked if we could buy it for $50 less without the frame.

No, they said. He buys the frames in bulk and gets a really good deal on them, so no, they couldn’t take any money off by selling it without the frame.

OK. Well, we’re going to buy the painting. I told the girl in the booth that we were going to buy it, no matter what.

We love his work. We love this painting. We are buying this painting.

But, I just have to ask, could you give us a better price on the painting?

I tell her that we are buying it anyway, she doesn’t have to give us a better price, but I just wanted to ask.

I told her she didn’t have to lower the price. I used my words and said exactly that.

What was her response? Continue reading How To Set The Right Asking Price

The Prescott Real Estate Market – Stats for Aug., 2015

Prices are still going up. Sales volume is going up. Absorption rate is going down.

All signs point to this being a perfect time to sell your house.

Am I saying that as a real estate agent, trying to manipulate you into doing a deal?

No. I’ll also tell you that this is a horrible time to BUY a house.

Unless you are selling somewhere else, in a higher priced market, (and I’m looking at you, Los Angeles), then bringing that bucket of cash here to buy a cheaper, smaller house, please don’t buy a house.

This is not the time to trade up. This is the time to downsize.

According to every financial guy that I trust, we are at, or near, the top of the bubble.

We are about to burst and fall into a prolonged depression. Housing prices will crash in the next 6-9 months.

Get your own advice if you want, but that’s what I’m saying.

You look at the numbers and tell me what you think.

Summary Statistics Aug-15 Aug-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 5.25 6.24 -15.87 5.31 5.54 -4.15
Average List Price $381,093 $368,151 3.52 $317,033 $302,954 4.65
Median List Price $305,450 $295,500 3.37 $250,000 $240,000 4.17
Average Sale Price $275,809 $242,248 13.85 $256,178 $230,266 11.25
Median Sale Price $220,000 $211,900 3.82 $221,000 $199,950 10.53
Average CDOM 105 118 -11.02 92 86 6.98
Median CDOM 39 52 -25.00 43 46 -6.52

150901_stats_chart

150901_stats_numbers

Born and Raised In LA – I Don’t Want To Move To Prescott

Fear, Anger, Sadness

Is this you?

My post on the 17 Things I Learned Moving From Southern California To Prescott, AZ ranks well in search engines, so I tend to get interesting emails from people thinking about making the move.

I was touched by this edited excerpt from an email I got recently that really expressed some of the feelings that I had before I became another Californian moving to Prescott, AZ.

I was born and raised here, and I don’t want to leave.

So of course I am upset. I am the last living person in my family and I am 99% sure I am leaving.

Makes me very sad. Like you .. TOTALLY comfortable here. What is not to be comfortable with?

This makes me sick to my stomach. I try to tell that to people, they look at me like I am nuts.

I did give some consideration to the fact that despite my brain not wanting to go, it is entirely possible that I just might like it. I am not normally one for liking major changes anymore, but it is possible I would have more of a life there than here, where it appears I have none.

Continue reading Born and Raised In LA – I Don’t Want To Move To Prescott

Food Trucks – What I Miss About LA

I love Prescott. I should have moved here years before I did.

But I do miss some things from living near Los Angeles.

Tito’s Tacos and Randy’s Donuts immediately come to mind.

Food Trucks

Another big thing that I miss is food trucks.

Yes, I’ve eaten off roach coaches for years and they were fine, but when the gourmet food truck trend hit a few years ago, I was enthralled.

Kogi Tacos started it all by offering Korean BBQ short rib tacos and burritos.

I mean, Korean tacos? What? They were amazing. Who knew that I would love kimchi on BBQ?

First Fridays

Continue reading Food Trucks – What I Miss About LA

Drones Over Prescott – Aerial Video For Real Estate

How It Started

This post might get me in legal trouble.

Ever since I first heard about drones a few years ago, I’ve wanted one.

The ability to fly into the air and see from there, to record what you see, to control the flight, and move above everything else is just, I mean, that’s like a primal urge…, isn’t it, to fly?

I guess I just want to be TinkerBell. Continue reading Drones Over Prescott – Aerial Video For Real Estate

I can sell your house faster, for more money