Phoenix Real Estate continues to set Records in 1st Quarter of 2021. Sales of residential real estate outpaces 2020, which was an exceptional year for real estate. Our market is blustering hot! "What is causing this blistering feat? We need to look no further than hysterically low inventories, where active listings (excluding UCB *Home under contract accepting backup offers and … [Read more...]
Greater Phoenix Metro Area Real Estate Market News
“I’m a greater believer in luck, and I find the harder I work the more I have of it,” Thomas Jefferson Years ago, until I was in the market to buy my first home I was not paying attention to real estate prices, inventory or interest rates. Once I became an active buyer I was very aware of what was happening in my local market. Shortly after I bought my first home I became a real estate … [Read more...]
2020 Remarkable Year For Real Estate In Phoenix Market! What’s Next in 2021
2020 Remarkable Year For Real Estate In Phoenix Market exceeding all expectations! Despite all the challenges we faced the year was transformed into the most successful sales year in ARMLS history. (Arizona Regional Multiple Listing Service) "A strong first quarter was followed with a 27.1% year-over-year drop in sales volume in April and a 33.7% drop in May. Historically, April and May are in … [Read more...]
Rental Market: Inventory Down and Lease Prices Are Up
If you are finding it more difficult to find and get your rental application accepted even when you meet the minimum rental requirements multiple factors are working against you. First the number of homes for rent in the Arizona Regional Multiple Listing Service is down, rental prices are up and competition from other potential renters is placing you in a position of facing other applicants that … [Read more...]
Rental Information and Guidelines
Basic Qualifications Landlords and Property Managers Check Information Common to Rental Applications What to expect in Fees Associated with Renting a Home Where to Get Your Credit Reports Renting with Pets Resources: Landlord Tenant Act & Arizona Tenant Advisory Qualifications for Tenants Credit Checks and Background Checks Will Generally Be Run on All Applicants over … [Read more...]
Is Now a Good Time to Buy or Sell Real Estate?
Traditionally, spring is one of the busiest times of the year for real estate. However, the corona-virus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.1 Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And … [Read more...]
2020 Outlook: Real Estate Market Forecast
We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.1 Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will … [Read more...]
Mortgage Limits Increase For 2020!
Here is a quick update on the official Mortgage Limits changes for 2020! "Conventional – new limits for all loans delivered after 1/1/2020 will be $510,400 (whoo hoo!!!) This means First time home buyers using (3% down payment) can buy at a maximum purchase price of $526,185 5% down Owner Occupant Buyers can buy at a maximum purchase price of $537,263 FHA made their official announcement and … [Read more...]
Everything You Need to Know About iBuyers and the “Instant Cash Offer”
Technology is changing the way we do almost everything, and real estate transactions are no exception. In fact, a new crop of tech companies wants to revolutionize the way we buy and sell homes. iBuyer startups like Opendoor, Offerpad, and Properly are rapidly expanding into new territories, and now established players, like Zillow, are starting to get in on the action. Also known as Direct … [Read more...]
5 Step Strategy for Downsizing Your Home
In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle. Here is a 5 Step Strategy for Downsizing Your Home In fact, the advantages of downsizing are … [Read more...]
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