luxury valley homes: Market in a Minute 2019-05 - 05/05/19 10:42 AM
Market in a Minute 2019-05
 
This is a snapshot of the Nationa market in time looking at the April statistics as reported.
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luxury valley homes: Cost Across Time On Average Interest Rate - 01/13/19 11:03 AM

 
Cost Across Time Highlights:
 
With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.0% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can!  
About the Luxury Valley Homes Team
 
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luxury valley homes: Are homeowners renovating: To Sell or Stay - 11/14/18 12:56 PM

  Are homeowners renovating? - Over the past few years, two trends have emerged in the housing market: Home renovations have shot up Inventory of homes available for sale on the market has dropped   A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply. This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, … (3 comments)

luxury valley homes: Flooding Damage | Are We at Risk in Scottsdale? - 09/17/18 11:43 AM
Flooding damage - Floods are a common and costly natural hazard in Arizona. Whether caused by heavy rain, monsoons, or the remnants of tropical storms, the results of flooding damage can be devastating. While some floods develop over time, flash floods—particularly common in the state—can occur within minutes after the onset of a rainstorm. Even mountainous areas are at risk for flash flooding, as higher grounds tend to funnel water down into canyons. Residents need to protect their homes and assets with flood insurance now, before a weather event occurs and it’s too late.
Many Arizona residents may be at an even … (0 comments)

luxury valley homes: Supply-Demand Will Determine Future Home Values - 08/12/18 12:40 PM
Supply-Demand - Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:
“The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”
When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number … (1 comments)

luxury valley homes: Americans Rank Real Estate Best Investment for 5 Years Running - 07/27/18 02:01 PM
Americans Rank Real Estate
 
Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 5 years! The generations agree! Real estate is the best investment! Generation X leads the way with 37% believing in real estate as the top investment  
You may also like to read the following:
 
 - We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space … (0 comments)

luxury valley homes: Get The Best Price | Here is Two Ways When Selling Your Home - 07/24/18 02:07 PM
Get the best price - Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house?
Get The Best PriceHere are two ways to ensure that you get the highest price possible.
1. Price it a Little LowThis may seem counterintuitive, but let’s take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation when, in actuality, it just dramatically lessens the demand for their houses (see chart below).
 
Instead of the … (0 comments)

luxury valley homes: 4 Reasons To Buy A Home | Is Buying a Home a Good Idea? - 07/17/18 11:42 AM
4 reasons to buy a home - We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.
4 Reasons To Buy A Home1. Owning your home offers you the stability to … (0 comments)

luxury valley homes: Lack of Inventory - How it impacts the Housing Market - 06/23/18 01:37 PM
Lack of inventory - The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. The market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. Buyer demand naturally increases during the summer months, but supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:Lawrence Yun, Chief Economist at National Association … (1 comments)

luxury valley homes: Homes are More Affordable in 44 out of 50 States - 06/23/18 08:35 AM
Homes are more affordable - With both home prices and mortgage rates increased this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe.
 
In Black Knight’s latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it is actually more affordable to purchase a home today than it was between 1995 to 2003 when looking at mortgage payments (determined by price and interest rate) … (0 comments)

luxury valley homes: When Is a Good Time to Rent? Not Now! - Luxury Valley Homes - 06/12/18 12:14 PM
People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent.
The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:
As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be … (0 comments)

luxury valley homes: Will Home Prices Fall as Mortgage Rates Rise? | Luxury Valley Homes - 06/11/18 12:26 PM
Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate.
However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates.
Mark Fleming, First American’s Chief Economist: “Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage rates into perspective – they are unlikely to materially impact the … (0 comments)

luxury valley homes: 4 Steps to Follow When Presenting an Offer in Today’s Market! - 06/11/18 12:08 PM
4 Steps to follow: So, you’ve been searching for that perfect house to call a ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure that you make a great offer so that you can guarantee that your dream of making this house yours comes true!
Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration:
1. Determine Your Price“You’ve found the perfect home and you’re ready to buy. Now what? Your real estate agent will be by your side, helping you determine an offer … (0 comments)

luxury valley homes: Days on The Market Drops to New Low in April | Luxury Valley Homes - 06/11/18 11:52 AM
According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.
NAR’s Chief Economist, Lawrence Yun, had this to say,
“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”
Strong buyer demand, … (0 comments)

luxury valley homes: Homeowners & Appraisers See the Most Eye-to-Eye on Price in 3 Years - 06/11/18 11:42 AM
Homeowners & Appraisers - In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5% (or more) over the next twelve months. One major challenge in such a market is the bank appraisal.
 
When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the same neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is … (1 comments)

luxury valley homes: 3 Tips for Making Your Dream of Owning a Home a Reality | LV Homes - 05/11/18 11:11 AM
3 Tips That Makes Your Dream of Home Ownership a RealitySome Highlights of 3 Tips: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking much about it. Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. What are you willing to cut back on to make your dreams of homeownership a reality? Tax Reform Has Impacted the 2018 Housing MarketStarting late last year, some predicted that the 2018 tax changes … (1 comments)

luxury valley homes: Best Month to Sell Your Home | Data Says May - LVH - 05/02/18 12:30 PM
Best month to sell differs by geography. Arizona leads their sales in November while other states differ. According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.
For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:
ATTOM even went a step further and broke their results down by day.Top 5 Days to Sell: June 28th – 9.1% above market February 15th – 9.0% above market May 31st – … (0 comments)

luxury valley homes: Home Prices Increasing - Why? | Luxury Valley Homes - 04/30/18 10:39 AM
Home prices increases - There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.
However, the increase in prices is easily explained by the theory of supply & demand. Whenever there is a limited supply of an item that is in high demand, prices increase.
It is that simple. In real estate, … (0 comments)

luxury valley homes: 18611 E Avenida Del Ray, Rio Verde, AZ 85263 | LVH - 04/28/18 02:00 PM
Rio Verde Area - Search current inventory of 3 bedrooms 2.5 bath homes Rio Verde AZ 85263
Listing DetailsRio Verde 3 Bedroom Home AZ 85263
18611 E. Avenida Del Ray, Rio Verde, AZ 85263
Price: $595,000 MLS number: 5756781 Bedrooms: 3 Bathrooms: 2.5 Square Footage: 3,124 Single Family Home Built 1983 Lot Size 0.83 Acres Single Story  
 
Call Kathy Crawford, REALTOR® at 480-334-0114 to see if this property is still available and arrange a showing.
 You Will Love the Updates on this Beautiful HouseFabulous custom home totally renovated on corner private HUGE lot. Master has a giant walk-in closet plus a second closet, two sink bath, and all new … (5 comments)

luxury valley homes: Short of War or Stock Market Crash | Housing and Mortgage Market Review - 04/27/18 10:32 AM
Short of War - This month, Arch Mortgage Insurance released their spring Housing and Mortgage Market Review. The report explained that an increase in mortgage rates and/or home prices would impact monthly payments this way:
Short of WarA 5% increase in home prices increases payments by roughly 5% A 1% rise in interest rates increases payments by roughly 13% or 14% That begs the question…
What if both rates and prices increase as predicted?
The report revealed:
“If interest rates and home prices rise by year-end in the ballpark of what most analysts are forecasting, monthly mortgage payments on a new home purchase could increase … (0 comments)

 
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