scottdale real estate arizona: 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)

scottdale real estate arizona: Q3 home sellers netted $61K at resale - 11/14/18 12:35 PM
  Q3 home sellers netted $61K at resale - According to a recent report by ATTOM Data Solutions, home sellers who sold their homes in the third quarter of 2018 benefited from rising home prices and netted an average of $61,232. This is the highest average price gain since the second quarter of 2007 and represents a 32% return on the original purchase prices. After the Great Recession, many homeowners were left in negative equity situations but home price appreciation in the recovery period since then has given homeowners something to smile about. The results from ATTOM fall right in line … (0 comments)

scottdale real estate arizona: Home Values Where they Headed During the Next Few Years? - 10/28/18 11:15 AM
 
Home values - Because there are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. For contrast, we have gathered the most reliable sources to help answer these questions: Home Values Home Price Expectation Survey A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.Zelman & Associates The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research, also advice to leading global institutional investors and senior-level company … (1 comments)

scottdale real estate arizona: Buyers Market: Are We About to Enter It? - 10/23/18 02:16 PM
Are We About to Enter a Buyer's Market?
Buyers market - Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening? The market has definitely softened. However, according to two chief economists in the industry, we are a long way from a market that totally favors the purchaser:Dr. Svenja Gudell, Zillow Chief Economist: “These seller challenges don’t indicate we’re suddenly in … (0 comments)

scottdale real estate arizona: Rising Home Prices Help Build Family Wealth - 09/20/18 10:46 AM
Rising home prices - As home prices continue to appreciate, many potential buyers and sellers aren't sure what it really means for them. It's important to understand, however, that rising prices also means rising equity. If you're wondering what home price appreciation means for you, let's get together to discuss building your wealth today!
 
 
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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 … (0 comments)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: 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)

scottdale real estate arizona: Selling Soon | Why You Need a Home Pro in Your Corner | LVH - 04/24/18 11:30 AM
Selling soon? Demand for new homes is on the rise, home values are up and first-time home buyers are flooding the market. According to a new article in the Phoenix Business Journal, the future of the Phoenix and Scottsdale real estate markets is looking bright.
Selling SoonWith home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.
Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability … (0 comments)

scottdale real estate arizona: Reasons to Love Using A Real Estate Pro | Luxury Valley Homes - 02/09/18 09:22 AM
Reasons to Love Using A Real Estate Pro - Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
One of the top reasons to hire a real estate professional is their understanding of the local market, and how the conditions in your neighborhood will impact your experience.
 
 
Here are some key takeaways from the … (0 comments)

scottdale real estate arizona: Buying Remains Cheaper Than Renting in 39 States! - 10/20/17 01:00 PM
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!
A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two … (4 comments)

scottdale real estate arizona: Hiring Agents: Selling Your House May Cost You NOTHING! – LuxuryValleyHomes.com - 10/19/17 01:40 PM
Hiring Agents - There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide:
Greater exposure to more buyers The skills of a professional negotiator A layer of protection from possible legal liabilities Professional guidance in navigating any pitfalls that may arise A level of safety while showing the home There is no doubt that these services are valuable to any family that decides to sell. The only question is – how valuable? One of the main reasons For Sale By Owners (FSBOs) don’t use a … (3 comments)

scottdale real estate arizona: Thinking Selling? You Should Do It TODAY! - LuxuryValleyHomes.com AZ - 10/16/17 01:29 PM
Thinking selling? - That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!
In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, (NAR)said:“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”And this situation will be affected greatly by recent natural disasters. Yun continued by saying:“Before the hurricanes I would have predicted … (2 comments)

scottdale real estate arizona: Real Estate Team: What To Look For In Your Team – LuxuryValleyHomes.com - 09/29/17 01:08 PM
Real estate team - How do you select the members of your team who are going to help you make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?   The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market. As Dave Ramsey, the financial guru, advises:“When getting help with money, whether it’s insurance, … (0 comments)

scottdale real estate arizona: Selling Your Home – Maximize Your Return | LuxuryValleyHomes.com - 09/25/17 12:48 PM
Selling Your Home - Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house?
Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOWThis may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). 
Selling Your HomeInstead of the seller trying to … (2 comments)

 
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