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BHHS Arizona Properties
Still looking for a place to stay during Super Bowl week?
Making a list of resolutions is as much a part of some people’s New Year’s traditions as watching the ball drop at midnight.
Buying a home? Want to put in a new kitchen and include it in your mortgage? Well, now you can!
Happy New Year! I can’t believe it’s been 15 years since Y2K when we were so worried that our cars wouldn’t start and our computers would malfunction on Jan. 1.
When looking into 2015 it seems like it will be a good year for both the economy and the housing market. Most of these predictions nationally should hold true for the Greater Phoenix market as well as on a national scale. Expect the home-purchase market to strengthen along with the economy in 2015, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for November: “The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 which is only the second year in the past decade with growth at that pace or better. Governmental fiscal drag has turned into fiscal stimulus with lower energy costs support consumer spending and business investment with further easing of credit conditions for business and real estate lending support commerce and development; and consumers are more upbeat and businesses are more confident, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better-paying jobs, providing the financial wherewithal to support household formations and housing activity.”
It’s starting to feel a lot like Christmas! Before you know it, it will be 2015 and the snowbirds will be flocking back to enjoy our wonderful weather. Will they be buying and selling real estate when they get here? That’s a good question. Let’s look at the numbers.
According to the November 2014 monthly report from Arizona State’s W.P. Carey School of Business, our Phoenix housing market is unlikely to see a significant boost until next year. Here are some of the highlights from the report.
A house marketed in November and December may lure buyers looking for year-end tax breaks. It may also provide a seller with a motivated buyer, less inventory and selling price close to asking price.
No lie, real estate is a really fun career. When I tell people what I do, they almost always say: “I’ve always wanted to do that … I love looking at houses.” Of course as Realtors we do much more than that but yes, we do look at a lot of houses. Checking out styles, design, décor, pricing and keeping up with the market seems to be a fun topic in general for many people. We get creative ideas, find out what houses like ours are selling for and just overall find it entertaining.
The first Super Bowl in Arizona was way back on Jan. 28, 1996 at the Sun Devil Stadium in Tempe. It was when the Dallas Cowboys defeated the Pittsburgh Steelers with a score of 27-17. The second
Fall is here and the weather couldn’t be nicer. What a great time of the year to buy or sell real estate. Let’s look at the numbers. October numbers continue to be down for the Ahwatukee/Foothills market. According to the Arizona Regional MLS, October property sales in the 85044, 85045 and 85048 ZIP codes were 100 sales, down 15.3 percent from 118 in October of 2013 and 19.4 percent lower than the September sales of 124. October 2014 sales numbers were lower than October of 2013 and 2012. Year-to-date (YTD) sales of 1,207 are 15.7 percent behind last year’s YTD sales of 1,432.
There are numerous ways to make money like investing in the stock market, in real estate, money lending, engaging in small business or big venture, and a million ways more. A decision to invest in any product whether real estate or stocks needs to be an educated decision based on a long-term financial strategy rather than an emotional decision based on speculation. My personal choice is land because of practical reasons.
Ever wonder: “What’s the difference in sales price between using a Realtor and selling a home via For Sale By Owner.”
For any real estate agent to get a few people to show up to an open house at a luxury property is a challenge, but local Realtor Brian Bair has found a unique way to pack the house with interested buyers and create a conversation about the property that lasts for weeks.
Ahwatukee real estate agent and longtime chamber member Christie Ellis was named 2014’s Business Woman of the Year at the Ahwatukee Foothills Chamber of Commerce’s Fifth Annual Palo Verde Women in Business Gala on Saturday, Oct. 25.
The work ethic and attitude of a candidate is indicative of the legislator that he or she will be. I have had the pleasure of working with Jill Norgaard over the past months on her campaign for the Arizona House of Representatives in Legislative District 18. I have witnessed firsthand her tireless commitment to reach voters, business leaders, and the community at large to share her vision for a better Arizona.
There are many important factors when sellers are preparing to market their home such as timing, pricing and market strategy. Although, one of the most important things that sellers often overlook is staging their homes to sell prior to photos and showings.
Information from the United States Census Bureau indicated that Arizona’s estimated population for 2013 was 6,626,624 which is a 3.7 percent change from just three years ago in 2010. Private non-farm establishments in 2012 was 131,375. Total firms in 2007 was 491,529. Arizona State University student population in the city of Tempe alone is 38,735 undergraduate enrollment on a 630-acre campus. Having a healthy population of college students drive the apartment and rental housing and retail markets in those cities in the upward scale. ASU’s growing footprint in downtown Phoenix has helped draw more restaurants and bars as well as draw high technology companies in the area.
Is the housing market good or bad? The housing recovery is doing very well. We are seeing almost every measure doing much better than it was two to three years ago. Pretty much everything that should be improving is up such as construction, sales and prices. As well as everything that should be down is down. So there are fewer vacancies, fewer people falling behind on their mortgage, which means fewer foreclosures.
The Ahwatukee Foothills Chamber of Commerce has announced the nominees for the 2014 Palo Verde Women in Business Award.
Good news for the market: even though inventory continues to grow, there is evidence that the buyers are returning to the market. According to the Arizona Regional MLS, August property sales in the 85044, 85045 and 85048 ZIP codes were 116 sales, down 6.5 percent from 124 in August of 2013 and 15.3 percent lower than the July sales of 137. August 2014 sales numbers were lower than August of 2013 and 2012. Year-to-date (YTD) sales of 983 are 17.9 percent behind last year’s YTD sales of 1198.
The VA Jumbo Loans are probably one of the most misunderstood and under utilized tool in the VA benefits package. The majority of lenders do not know how to leverage this lending tool to its full and complete capacity on behalf of their VA borrowers. If you are a veteran looking to purchase a home above $417,000, you can get a no hassle, no obligation review of your VA benefits to see, if you qualify. There are a few select lenders that do this product well. You will be amazed at how low your rate will be and how little money you need to put as a down payment on VA Jumbo Loans through select lenders. Here are some features and benefits:
It seems as if almost everyone you meet has experienced the negative effects of the “Great Recession.” If you or someone you know has had a derogatory credit event, check this cheat sheet, to help you determine when you can buy again. Lenders have loosened the requirements and restrictions surrounding a negative credit event. It may be time to buy before interest rates rise in 2015.
Increasing inventory, more competition and a smaller buyer pool. That continues to sum up the market. According to the Arizona Regional MLS, July property sales in the 85044, 85045 and 85048 ZIP codes were 137 sales, down 17.5 percent from 166 in July 2013 and 1.5 percent higher than the June sales of 135. July 2014 sales numbers were lower than July of 2013 and 2012. July’s year-to-date (YTD) sales of 868 down 19.2 percent behind last year’s YTD sales of 1074.