It’s interesting to point out that usually when the market gets hot, more sellers try to sell For Sale by Owner. So you’d think FSBO rates would be climbing. In fact, the opposite is true. NAR reports that FSBO sales in 2015 were at the lowest rates since data collection started in 1981, while rates of working with an agent were climbing.
It’s clear the vast majority of home sellers realize that selling FSBO is a bad idea. Here are four reasons why it isn’t the best choice for most sellers.READ MORE
NAR recently predicted that Phoenix would be the hottest housing market in the US in 2017. We could chalk it up to our awesome springtime weather, or we could talk about a few of the more compelling reasons why the Phoenix Valley real estate market is expected to do so well in 2017.READ MORE
Spring is springing and as we exit recession, America’s population is on the move. But where is everyone going?READ MORE
The FHA loan limit in Maricopa county for a SFR are going from $271,050 to $279,450. Did you know that FHA limits are different (higher) if the property is a ‘2 unit’, ‘3 unit’, or ‘4 unit’?READ MORE
In its recent September 29 daily observations, Cromford Reports mentioned that the 55+ communities market had seen a substantial increase in inventory, due primarily to seasonal effects. That got me thinking about some of the changes we are seeing in the 55+ market, which continues to be an important one here in the Phoenix Valley.READ MORE
Someone recently asked me, “What’s the next up-and-coming neighborhood in the Phoenix Valley?” The answer probably depends on who’s asking, but the general market of buyers are showing a preference for walkable neighborhoods near jobs and amenities, here are a few I’m watching.READ MORE
Appraisals typically have a turn time of 7 calendar days after we order them. In the last 6 weeks, the increased volume in refinances and the uptick in purchases is dragging appraisal turn times out to 2 weeks or so in the Valley.
With turn times like that, we simply cannot wait until the buyer inspection period is complete to get the appraisal ordered. It is very important for Realtors to educate their buyer and sellers on these turnaround times so they are prepared.READ MORE
Hope you survived this past crazy Hot weekend. Time to keep cool and take a quick look at what’s going on in the market.
In May, Phoenix Valley’s real estate market continued to be challenging for buyers. Since April, active listings fell from 27,227 to 25,802, while sales increased from 8,196 to 9,143. This put the squeeze on already tight inventory, moving absorption 2.9: a strong seller’s market.READ MORE
A Rapid Rescore is one of the simplest methods to improve your credit score in less time by submitting proof of positive credit behaviors to the three major credit bureaus. This is extremely beneficial and can help you in improving your credit score by 100 points and more within a day as soon as the erroneous or negative records are erased from your credit profile.READ MORE
The housing and mortgage market has been in a slow dog-fight since the Global Recession in 2008. With the crash, came a mass exodus of homeowners from home ownership due to foreclosures. It has now been almost eight years since the bottom of the collapse and it has been a long and very slow climb. 2016 is poised to become a breakout year for new homeowners, increasing sales over the last two brisk years. Part of this is being driven by a rush to the market as the Feds have started raising rates again. Here is a more specific breakdown of what to expect in 2016.READ MORE
If you are still paying Mortgage Insurance Premiums (MIP) on a Federal Housing Administration (FHA) backed loan you may be paying more than you need to. Canceling this type of mortgage insurance can also be easier than many homeowners believe. Many homeowners were forced into a FHA backed mortgage and its resulting MIP when the housing market dipped. Yet now with house values on the rise, you may be in a position to get rid of this unnecessary insurance payment. Find out how below.READ MORE
It Depends on whether you trying to get a Conventional, FHA, or VA home loan
Finally some good news. As of June 30th 2015, loan guidelines are finally loosening on allowing borrower to payoff mortgage balances to qualify for a mortgage.READ MORE