luxury valley homes scottsdale: Home Gym Designing on a Budget - 10/25/20 11:03 AM
Home gym - There's hardly an aspect of our daily lives that hasn't radically shifted over the past few months, including the way we work out. Some people opt to head outdoors to get their exercise in lieu of the gym, but for other people, home fitness has become part of their routine. Home fitness isn't necessarily new—for example, consider Jack LaLanne's exercise TV show geared toward housewives in the 1950s.Now, however, home fitness is targeted at all audiences. Millennials in particular seem to be receptive to the advances of home workouts. Seventy-six percent of Millennials recently said they exercise at … (2 comments)

luxury valley homes scottsdale: Americans Are Gaining Confidence in the Economy - 10/21/20 07:54 AM

The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts projected earlier this year, it still means millions of people are without work. There’s no way to minimize the tremendous impact this pandemic-induced recession continues to have on many Americans.
However, the latest Home Purchase Sentiment Index from Fannie Mae shows how more and more Americans believe the worst is behind us, and their personal employment situation is good. The index revealed:
“The percentage of respondents who say they are not concerned about losing their job in the next 12 months … (2 comments)

luxury valley homes scottsdale: Why Selling Your House Before Next Spring Is Key - 10/15/20 10:41 AM
Today's housing market is empowering homeowners with the control they want when selling their house, but as home inventory begins to rise, this fair-weather won't last forever. 
 
October 15, 2020
 
 
 Let's connect to start the process of selling your house now while it's still the best time to do so.
Sources used for data: https://www.census.gov/construction/nrs/pdf/newressales.pdf  
(1 comments)

luxury valley homes scottsdale: A Homeowner’s Net Worth Is 40x Greater Than a Renter’s - 10/07/20 09:16 AM


One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market.
Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower … (1 comments)

luxury valley homes scottsdale: Why Pricing Your House Right Is Essential - 10/05/20 08:00 AM


In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.
According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes:
“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”
When it comes to … (0 comments)

luxury valley homes scottsdale: Buyers Are Finding More Space in the Luxury Home Market - 10/01/20 08:05 AM


Buyers are finding more space in the luxury home market. A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.
The Institute for Luxury Home Marketing (ILHM) explains:
“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.
For instance, the last six … (0 comments)

luxury valley homes scottsdale: Where Are Home Values Headed Over the Next 12 Months? - 09/30/20 01:32 PM


As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate?
Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic).
However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As … (0 comments)

luxury valley homes scottsdale: Home Builder Confidence Hits All-Time Record - 09/23/20 08:49 AM


Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes.
As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:
The Northeast increased 11 points to 76 … (0 comments)

luxury valley homes scottsdale: Is the Economic Recovery Beating All Projections? - 09/21/20 09:31 AM

Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the country will not face the total devastation projected by some. As we continue to battle the pandemic, forecasts are now being revised upward. The Wall Street Journal (WSJ) just reported:
“The U.S. economy and labor market are recovering from the coronavirus-related downturn more quickly than previously expected, economists … (1 comments)

luxury valley homes scottsdale: The Surging Real Estate Market Continues to Climb - 09/16/20 09:44 AM


Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following:
Housing Demand – Growth in online search activity Home Price – Growth in asking prices Housing Supply – Growth of new listings Pace of Sales – Difference in time-on-market The index compares the current status “to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a … (0 comments)

luxury valley homes scottsdale: Is Now a Good Time to Move? The Dollars Tell the Tale - 09/15/20 08:29 AM

How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time to time to be in one place, considering the average length of time homeowners used to stay put hovered closer to 6 years.
With today’s changing homebuyer needs, especially given how the current health crisis has altered our daily lifestyles, many homeowners are reconsidering where they’re at and thinking about moving … (0 comments)

luxury valley homes scottsdale: The Latest Unemployment Rate Fell to 8.4% - 09/09/20 07:52 AM


Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago.
Not Like the Great Depression or Even the Great Recession Jason Furman, Professor of Practice at Harvard explained:
“An unemployment rate of 8.4% is much lower than most anyone … (0 comments)

luxury valley homes scottsdale: Have You Ever Seen a Housing Market Like This? - 09/08/20 09:50 AM


Have you ever seen a market like this? The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here’s a look at four key areas that are fundamentally defining the market this year.
Housing Market Recovery The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common real estate transaction were … (0 comments)

luxury valley homes scottsdale: Homebuyer Demand Is Far Above Last Year’s Pace - 09/03/20 07:35 AM

Homebuying demand has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.
According to the Pending Home Sales Report from the National Association of Realtors (NAR):
“Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.
The Pending Home Sales Index (PHSI), … (0 comments)

luxury valley homes scottsdale: Builders & Realtors Agree: Real Estate Is Back - 08/25/20 08:47 AM


When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place.
After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here’s a look at two recent reports – one from the National Association of Home Builders (NAHB) and one from the National Association … (0 comments)

luxury valley homes scottsdale: Top Reasons People Are Moving This Year - 08/24/20 10:42 AM


Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.
According to Zillow:
“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” 
With a new … (0 comments)

luxury valley homes scottsdale: Just How Strong Is the Housing Recovery? - 08/23/20 12:44 PM


The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of the real estate market.
Purchase Mortgages The number of buyers getting a mortgage to purchase a home is a strong indicator of the strength of a housing market. Below is a graph of the week-over-week percent change in that number, as reported by the Mortgage Bankers’ Association:The number dropped dramatically … (2 comments)

luxury valley homes scottsdale: Ask a Pro About Buying a Home - 08/21/20 07:45 AM
INFOGRAPHIC
Some Highlights According to trending data, searches for key real estate topics are skyrocketing online. Clearly, lots of people have questions about buying a home, and other topics related to the process. Working with a trusted real estate professional will help you create the most personalized and helpful experience. Let’s connect so you have the guidance you need along the way. … (0 comments)

luxury valley homes scottsdale: Where Is the Housing Market Headed for the Rest of 2020? - 07/31/20 08:00 AM
[INFOGRAPHIC]

Some Highlights: The housing market is forecasted to finish the year with growing strength. Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise. If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today. … (0 comments)

luxury valley homes scottsdale: Homeownership Rate Continues to Rise in 2020 - 07/29/20 07:59 AM
So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home.
Yesterday, the U.S. Census Bureau announced:
“The homeownership rate of 67.9 percent was 3.8 percentage points higher than the … (0 comments)

 
SUBSCRIBE TO OUR BLOG BY WAY OF EMAIL

Enter your email address:

Delivered by FeedBurner



Listings

Links

Archives

RSS 2.0 Feed for this blog