luxury valley homes scottsdale: Two Reasons Why Today’s Housing Market Isn’t a Bubble - 06/27/22 12:30 PM
Two Reasons Why Today’s Housing Market Isn’t a Bubble
You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate most experts don’t think that’s the case (see graph below):
As the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble. In the same survey, experts give the following reasons why … (1 comments)

luxury valley homes scottsdale: Why Achieving the Dream of Homeownership Can Be More Difficult for Some Americans - 06/20/22 07:09 AM
Why Achieving the Dream of Homeownership Can Be More Difficult for Some Americans
Today we take time to honor and recognize the past and present experiences of Black Americans. When it comes to real estate specifically, equitable access to housing has come a long way, but the path to homeownership is still steeper for households of color.
The Gap in Homeownership Rate in America It’s a more challenging journey to achieve homeownership for some buyers, as shown by the measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Census data shows the lowest homeownership rate persists in the Black community (see … (1 comments)

luxury valley homes scottsdale: More Listings Are Coming onto the Market - 06/18/22 08:52 AM
More Listings Are Coming onto the Market [INFOGRAPHIC]
Some Highlights Worried you won’t be able to find your next home after you sell? You should know data from realtor.com shows more listings are coming onto the market each month this year. Having additional options can make the search for your next home easier. But inventory is still low overall, which means your house should still stand out when you sell. If your biggest question is where you’ll go if you sell, take this as encouraging news. Let’s connect to start the process today. … (2 comments)

luxury valley homes scottsdale: Home Price Deceleration Doesn’t Mean Home Price Depreciation - 06/16/22 10:48 AM
Home Price Deceleration Doesn’t Mean Home Price Depreciation
Experts in the real estate industry use a number of terms when they talk about what's happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what's happening with home prices and where experts say they're going, here’s a look at a few terms you may hear:
Appreciation is when home prices increase. Depreciation is when home prices decrease. Deceleration is when home prices continue to appreciate, but at a slower pace. Where Home Prices Have Been in Recent Years For starters, you’ve probably heard home prices have skyrocketed over the … (3 comments)

luxury valley homes scottsdale: Are you Buying or Selling a Home? - 06/14/22 07:23 AM
 
The Summer Buyer and Seller Guides are here. Let's connect so you can get the latest digital copies.
(1 comments)

luxury valley homes scottsdale: Is the Housing Market Correcting? - 06/14/22 07:15 AM
Is the Housing Market Correcting?
If you're following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.
The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers … (2 comments)

luxury valley homes scottsdale: 2022 Housing Market Forecast - 05/06/22 09:44 AM
2022 Housing Market Forecast [INFOGRAPHIC]
Some Highlights What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Let’s connect so you can make your best move this year. … (0 comments)

luxury valley homes scottsdale: Three Tips for First-Time Homebuyers - 05/05/22 07:27 AM
Three Tips for First-Time Homebuyers
Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you're looking to purchase your first home, you may be wondering what's happening in the housing market today, how much you need to save, and where to start.
Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.
1. Consider All Options When the Number of Homes for Sale Is Low Today, there are far more buyers in the market than … (2 comments)

luxury valley homes scottsdale: Things That Could Help You Win a Bidding War on a Home - 05/03/22 10:19 AM
Things That Could Help You Win a Bidding War on a Home
With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below):

The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you … (3 comments)

luxury valley homes scottsdale: Home Price Appreciation Is Great News for Existing Homeowners - 05/02/22 01:33 PM
Today’s Home Price Appreciation Is Great News for Existing Homeowners
If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand.
In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market.
Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic, … (1 comments)

luxury valley homes scottsdale: Buyers Are Lining Up To Make an Offer in Today's Housing Market - 04/29/22 10:49 AM
Buyers Are Lining Up To Purchase a House.
Demand continues to outpace supply. On average, respondents reported four buyer home tours during the month compared to an average of 1.4 listings during the month.
Buyer competition remained intense, with respondents reporting an average of 4.8 offers for every home sold (4.8 in the prior month, 4.8 one year ago). Fifty-seven percent of buyers’ price offers were above the list price (48% in the prior month). Half of the buyers had made at least two prior offers and lost before succeeding on the third try.
With homebuying demand still outpacing supply, properties typically stayed … (1 comments)

luxury valley homes scottsdale: Give Your Curb Appeal a Boost Before You Sell - 04/29/22 09:32 AM
Give Your Curb Appeal a Boost Before You Sell [INFOGRAPHIC]
Some Highlights If you’re thinking about selling your house this season, focusing on a few quick and easy updates outside can help your home look its best. 78% of real estate agents polled say poor landscaping affects property values. As a seller, that means your yard could impact your bottom line. When getting your house ready to sell, let’s connect to discuss what you should do to make sure your house shows well and catches the eyes of more potential buyers. … (1 comments)

luxury valley homes scottsdale: Why This Housing Market Is Not a Bubble - 04/21/22 07:17 AM
Why This Housing Market Is Not a Bubble Ready To Pop
Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream.
Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The graph … (3 comments)

luxury valley homes scottsdale: On the Fence of Whether or Not To Move This Spring? - 04/14/22 09:41 AM
On the Fence of Whether or Not To Move This Spring? Consider This.
If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data.
Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks … (2 comments)

luxury valley homes scottsdale: The Spring Homebuying Season Is in Full Bloom - 04/07/22 10:54 AM

Spring is the most popular time to buy a home, making it a great time to sell. Let's connect so you can take advantage of the spring buying season.
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luxury valley homes scottsdale: Home Price Appreciation and What It Means for You - 04/07/22 08:30 AM
The Future of Home Price Appreciation and What It Means for You
Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago.
However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue:
“. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates … (3 comments)

luxury valley homes scottsdale: How Not To Get Fooled When You Sell - 04/01/22 10:05 AM
How Not To Get Fooled When You Sell This Spring
Selling a house on your own can be a risky decision. Let's connect so we can put together a foolproof plan when you sell this spring.
(1 comments)

luxury valley homes scottsdale: It’s Still a Sellers’ Market - 04/01/22 10:00 AM
It’s Still a Sellers’ Market [INFOGRAPHIC]
Some Highlights Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen. Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. There’s a reason why 72% of people believe it’s a good time to sell. Don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market. … (2 comments)

luxury valley homes scottsdale: What’s Happening with Mortgage Rates - 03/30/22 10:47 AM
What’s Happening with Mortgage Rates, and Where Will They Go from Here?
Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year:

Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart … (0 comments)

luxury valley homes scottsdale: A Key To Building Wealth Is Homeownership - 03/28/22 08:32 AM
A Key To Building Wealth Is Homeownership
The link between financial security and homeownership is especially important today as inflation rises.  But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:
"Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability."
Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.
Owning a Home Is a Building Block for Financial Success A recent NAR report details several homeownership trends and … (3 comments)

 
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