Meet The Forkenbrock Group

I get it, everyone wants a lower interest rate. When I hear 7%, I don't like how that sounds either! But if rates drop, you’re probably not going to be the only buyer jumping back into the market. I’d rather negotiate with a motivated seller now than compete with other buyers later. Sometimes it’s not about waiting for the perfect market. It's about taking advantage of the market you’re in. If you're thinking about buying a house in Arizona and don't know where to start, that's where I come in. Reach out to me and we can schedule a mini consultation. Dawn Forkenbrock, Arizona Realtor with Real Broker #queencreekrealestate #arizonarealestate #phoenixrealestate #homebuyingtips #arizonahomes

People are now using social media as a search engine. That’s one reason why who you hire to sell your home matters. You need a Realtor who understands social media, marketing, and how to get your home in front of more people and not just put it in the MLS and hope for the best. Thinking about selling a house in Queen Creek or the Phoenix East Valley? Reach out to schedule a consultation. Dawn Forkenbrock, Queen Creek Realtor w/ Real Broker #queencreekrealestate #queencreekrealtor #arizonarealestate #eastvalleyrealestate #homesellingtips

Should You Sell Your Rental Property in Gilbert or Keep Renting It Out? For landlords sitting on a Gilbert rental property, the sell-or-hold decision has gotten more complicated as rates, rents, and HOA rules have all shifted. Here is what the actual numbers show, plus the tax and HOA details that too often get overlooked until it is too late to plan around them. Whether a Gilbert rental is still cash flow positive depends heavily on when and at what price it was purchased. Gilbert is generally treated as an appreciation-driven rental market, with cap rates on long-term rentals commonly cited around 2.8 to 3.1 percent, and some recent investor analyses show a negative median monthly cash flow on properties purchased at today's prices and financed at current rates. Owners who bought years ago at a lower basis, or who own the property free and clear, are in a very different position than someone financing a purchase at today's price and rate. Gilbert's rental market itself is steady but not growing quickly. Single-family homes commonly rent in the range of about $2,000 to $2,400 a month, while average apartment rent has run around $1,770 and slipped slightly over the past year. About 27 percent of Gilbert households rent, and rent growth has been flat to modest rather than dramatic. Almost every Gilbert neighborhood operates under a homeowners association, and many enforce minimum lease terms, commonly 30 to 90 days, which rules out short-term vacation rentals in most communities. Landlords should budget for monthly dues and any landscaping requirements, and buyers of a rental property will want to review the association's rules before closing, so a clean set of HOA documents can make a sale smoother. If you do decide to sell, tax exposure deserves attention well before closing. A rental sale generally triggers two separate taxes: depreciation claimed over the years of ownership is recaptured at a rate of up to 25 percent, and the remaining long-term gain is taxed at 0, 15, or 20 percent depending on your total taxable income, with an additional 3.8 percent net investment income tax possible for higher earners. A CPA can model your actual liability based on your specific purchase price, depreciation taken, and income. A 1031 exchange is worth exploring if you want to stay invested in real estate while deferring these taxes. It allows an investor to defer capital gains and depreciation recapture by reinvesting sale proceeds into another qualifying investment property, but it requires identifying a replacement property within 45 days of the sale and closing on it within 180 days, so it needs to be planned before the original sale closes, not decided afterward. Whether to sell or hold ultimately depends on your personal financial goals and how the property fits into your broader portfolio. A property with strong appreciation but weak cash flow may be worth holding for long-term equity growth, while the same property may be a clear sell for someone who needs current income or wants to simplify their finances. Running the numbers on both paths, including taxes, is the only way to compare them accurately. If you are weighing whether to sell your Gilbert rental property, I would be glad to pull current market data and walk through the numbers on both paths with you. Dawn Forkenbrock, Gilbert Realtor w/ Real Broker