Feb. 17, 2017

Top Real Estate Buyer Tips for 2017

What is the internet saying about buying a home in 2017?

  1. According to Yahoo Finance, first-time home buyers should act now because you are going to face competition and bidding wars in the spring.Buying a home

  2. Yahoo Finance also states there's more loan money out there for buyers right now.  Call your lender today to find out what you qualify for.  You might be surprised to find you don't need as much of a downpayment as you think.  

  3. Realtor.com also recommends that buyers should start looking now before the spring selling season ramps up.
  4. CBSNews.com reports that according to an analysis by Zillow, low inventory and strong demand helped push prices higher in 2016 at the fastest pace in 10 years.

  5. CBSNews.com also stated that the inventory of homes for sale is expected to be tighter in 2017 than it was in 2017.  

  6. A chief economist at Zillow said that buyers don't need to "freak out" about rising interest rates, according to CBSNews.com.

  7. Forbes.com emphasized how important it is to check your credit score when getting ready to buy a home and to get pre-approved with a lender.

  8. To get ready to buy a home Realtor Magazine suggests automating your bank accounts so that you regularly set aside money from your paycheck into a separate account, cleaning up your credit and budgeting wisely.

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Feb. 17, 2017

January 2017 MLS Market Report for Phoenix

January 2017 MLS Market Report for Phoenix

What Sellers and Buyers Need to Know Heading Into Spring:

Sellers:  

January saw a decrease in sales last month, which was expected.  The changes in Washington, along with downpayment assistance programs reaching the end of the available funds, may have something to do with this.  The average Days on Market is increasing, and inventory remains low.  Remember "pretty homes' sell faster and for more money...have your home in tip-top shape to secure the best offer(s) from buyers.  How you stage your home could have a big impact on the bottom line.

 

Buyers

Despite concerns, interest rates remained relatively stable over the last 30 days, but we expect to see gradual increases throughout the year.  Nearly 27% of the sales last month involved cash buyers, so a reminder to Buyers with a loan…you will often get a good price or good terms (concessions/contingencies), but rarely both. Be prepared to write your offer accordingly.   

The monthly report is ready for you to view or download.  Click on the image below to access this month's market report.  Please feel free to share this information with your friends and family.

 

January 2017 MLS Market Report for Phoenix

 

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Posted in Selling Your Home
Jan. 6, 2017

December 2016 MLS Phoenix Market Report

What you need to know:

Sellers:  In its truly cyclical fashion, the Phoenix real estate market once again experienced a slight drop in active inventory in December, along with a drop in contract received.   This means there will be about 1000 fewer sales in January from December.  Despite the low inventory, prices have remained stagnant for the 7th month in a row.  "Pretty homes" are still selling faster and for more money, so if you are selling your home, it's best to have your home in tip-top shape to secure the best offer(s) from potential buyers.  Now is a great time to present your house to the buyers wanting to lock in a lower interest rate, as they are expected to continue to increase this year.   

Buyers:  Multiple offers are still common for homes under $200,000 and sometimes up to $250,000.  Buyers should take this into account when placing an offer on a property.  Interest rates continue to rise, they went up slightly this past month after a significant increase in November.  Time to get off the fence and secure a good rate before they go up again!

Please click on the image below to access October's MLS Market Report.

 

December 2016 Phoenix MLS Market Report

 

 

Posted in Market Statistics
Jan. 6, 2017

Tips for Selling Your Home in 2017

Need to sell your home?  2017 is looking like a great year to do so!

Here are 5 things you should know if you plan on selling your home in 2017:

  1. Interest rates are still historically low, but they are increasing, which can affect the buying power for most home buyers.
  2. Inventory remains low but there are a lot of buyers out there looking for homes.  
  3. The selling season in Phoenix's West Valley typically starts to gear up in February, now is a great time to get your home ready to be placed on the MLS.
  4. Homes that are clean, staged and move-in ready typically sell faster, especially if they are priced right.
  5. Speaking of pricing, how you price your home is very important!  Keep in mind that what you paid for the house doesn't matter, pricing is dependent upon the current market conditions in your neighborhood.

If you have any questions about selling your home, or if you would like to set up a free consultation, please contact Cinda Rose at 623-252-9350 or email cinda@wvhometeam.com.

Want to know how much your home is worth?  Check out our instant property value report by clicking below:

Home Values

 

 

Posted in Selling Your Home
Jan. 6, 2017

Buying a Home in 2017? Here's What You Need to Know...

What you need to know about buying a home in 2017

It's that time of the year again when most people set resolutions and goals for the New Year.  Is buying a home one of your goals?  If so, what do you need to know about buying a home?  

Here are 5 important things to consider when buying a home in Phoenix's West Valley in 2017:

  1. Inventory is still low.  
  2. We are entering our busy season which typically starts in February.
  3. Multiple offers are still common for homes under $200,000.
  4. Interest rates are increasing.
  5. Home prices have remained stagnant for the last 7 months.

Have questions about buying a home?  Contact us today at Realtor@WVHomeTeam.com or call 623-252-9350.

Check out our awesome home search tool on our website by clicking below:

West Valley Home Search

Want to keep up with the real estate market?  Create your own market report by clicking below:

Dec. 10, 2016

Real Estate Tips for 2017

2017 is just around the corner, what are your real estate plans for the upcoming year?  Thinking about buying or selling a house?  Here's what buyers and sellers need to know in 2017.

Buyers

  • Credit restrictions are loosening up.  Borrowers with FICO scores as low as 690 are now getting mortgage loans.  While people with credit scores of 750+ are getting better rates, there are still loan programs out there for people with lower credit scores.  

  • Downpayment assistance is still available.  Down payment assistance programs like Home Plus, Pathway to Purchase and Home in Five are helping buyers in Arizona make their dream of home ownership a reality.  

  • Rents will continue to rise.  In most areas rents are rising, and, in some cases, they are increasing faster than home values.  Finding a quality rental is getting more difficult.  

  • 2017 will be a popular time for first-time home buyers.  More than half the home sales in 2017 are expected to be first-time home buyers.  This will make the traditional starter homes in fierce demand this spring. 

  • Expect competition and be ready.  Spring is a busy time for home buyers in Arizona, expect to run into heated competition, especially for homes under $200,000.  A solid pre-qualification from a lender is a must.  Better yet, have your lender pre-approve you for a home loan.

Sellers

  • Consider who the buyers out looking will be and make sure your home is in the proper condition.  With over 50% being first-time home buyers, it will be important to have your home move-in ready.  Most first-time home buyers do not have the extra funds to complete repairs.  

  • Know your local market.  Most likely your neighborhood is in the middle of a seller's market.  However, how is that affecting the prices of the homes near you?  It's important to make sure you are on top of the market conditions when pricing your home and when you start negotiating offers with buyers.  

  • Listing your house this Spring?  Start getting ready now.  Assess the condition of your home and determine what you need to do to get it ready to place on the market.  Your Realtor can complete a tour and let you know what items are important.

  • Make your house stand out from the competition.  While inventory remains low, sellers will still face competition.  Increase the interest in your home by making sure your homes shines above the rest.  Complete any necessary upgrades or updates, make sure your home is clean and smelling great, stage your home by decluttering and depersonalizing, and last, make sure your home is easy to view.

Don't hesitate to contact us if you have any questions about buying or selling a home.  We are happy to help!

Dec. 10, 2016

Tips for Buying a Home in 2017


Buying a home in 2017

2016 is coming to an end in a few weeks and it's time to start looking ahead to 2017!  Are you thinking about buying a home in 2017?  Here are some tips that will help make your home buying experience a better one.

  • Find a home search tool that is easy to use.  Since sites like Zillow are often out of date, choose a MLS search provided by a Realtor.  
  • Set up instant property alerts to keep you up to date with new listings.  Have new homes delivered to your inbox.
  • Sign up for a market report for the area you are interested in.  
  • Get pre-qualified with a lender.  It is important to have your pre-qualification form ready to go when you place an offer on a property as it is typically required.
  • Be ready to move fast when a property that matches your needs hits the market.  Especially if you are looking for a home that is $200,000 or less, it is important to jump on properties quickly and get an offer in.
  • Be prepared to make an aggressive offer if your Realtor lets you know there is most likely going to be competition.

In the Phoenix area, the real estate market starts to heat up mid-February and gets in full swing in the Spring months.  You may want to get a jump on the competition and start looking now.  There are still homes on the market and you will most likely face less competition than during the busier months.

If you have any questions about buying a home, don't hesitate to contact us.  

Posted in Buyer Information
Dec. 10, 2016

November 2016 Phoenix MLS Market Report

Please click on the image below to access October's MLS Market Report.

Sellers:  

Active inventory stayed relatively stable while the number of homes that went under contract and sold dropped (again) from October.  Home values saw a decline this past month but are overall at the highest point since 2006.

 

Buyers:  

Multiple offers are still common for homes under $200,000.  Thankfully, the majority of sellers are "traditional" sellers and are more agreeable to making inspection repairs and accepting contingencies.  We warned you it was coming and now it happened...interest rates went up this past month.  Time to get off the fence and secure a good rate before they go up again!

 

 

November 2016 MLS Market Report

 

For information about buying or selling a home, use the contact information form.  We'd love to hear from you and answer any questions you may have.  

Posted in Market Statistics
Nov. 15, 2016

October 2016 Phoenix MLS Market Report

 Please click on the image below to access October's MLS Market Report.  

Sellers:

Active inventory continues to increase while the number of homes that went under contract and sold dropped (again) from September.  Home values saw a small positive bump, but they have not increased significantly in nearly 18 months.  Price your home in alignment with other sales in your neighborhood.  Sellers can't afford to get cocky about the value of their home...it could cost you a successful sale!

 

Buyers:  

Multiple offers are still common for homes under $200,000.  Thankfully, the majority of sellers are "traditional" sellers (not short sales or bank owned properties) and are more agreeable to making inspection repairs and accepting contingencies.  Interest rates saw a little increase this month.  Time to get off the fence and secure a good rate!

 

 

 

 

For information about buying or selling please use the contact information form.  We'd love to hear from you and answer any questions you may have.  

Posted in Market Statistics
Nov. 9, 2016

10 Tips for First Time Home Sellers

If you own your home you've been through the sales process at least once when you purchased the house, but it's probably been awhile and now you are on the other side of the transaction.  Here's 10 tips for first time home sellers that should make the process easier! 

10 Tips for First Time Home Sellers

  1. Hire a professional.  A Realtor will help you through the process of selling your home.
  2. Price it right.  Your Realtor can provide you with the information needed to determine your best pricing strategy.
  3. Declutter and depersonalize.  Remove personal items and knickknacks so buyers can better view themselves living in the house.
  4. Make sure your home is clean and smells good.  Your home should smell and look sparkling clean from the moment the buyer wants in the door.  There's nothing worse than walking into a home to be assaulted by pet odors or other strong odors.
  5. Make storage spaces look bigger by packing up your stuff.  Remove half of your items from closets and then arrange the items in an orderly fashion.  Buyers do open closet doors and the more space they see the better.
  6. Make any necessary repairs.  Not sure what repairs need to be made?  Hire a home inspector.  The less items that come up during the buyer's home inspection the better and it gives sellers more negotiating power.
  7. Make your home available and easy to show.  Always be ready to show your house.  Keep you home clean at all times in case of last minute showings.  
  8. Remove yourself emotionally from the process.  Negotiating with buyers throughout the process is easier if you leave your emotions at the door. 
  9. The buyer is not the enemy, keep an open mind when negotiating.  Try to put yourself in their shoes when negotiating instead of being confrontational about any requests.  
  10. Get ready for closing.  Know the steps necessary to ensure a smooth closing. 
Posted in Selling Your Home