real estate: 2017 Hot Building Markets
- 10/11/17 08:17 AM
I love to see us growing!!! As we near the end of the 2017 year, lets take a look at the hottest building markets across America. We see many changes from 2016 to 2017. The new number one rank is held by Dallas, which was previously held by Houston in 2016. The Dallas - Fort Worth - Arlington, Texas area used to have 48.5 percent of the market share in 2016 but now holds the top spot in the nation. Now we see the Houston - The Woodlands - Sugar Land, Texas are ranking in as the number two city for new … (2 comments)
The number one reason why mortgage applicants get rejected: they are carrying too much debt relative to their monthly incomes. In the mortgage world, this is called a debt to income ratio. For millennials that are early in their careers, they are having to stretch every month to pay rent and their other bills.
Fannie Mae, the country’s largest source of mortgage money, eased it’s debt to income (DTI) requirements. This ease of requirements opened the availability to potential home buyers across America. Fannie Mae raised its … (0 comments)
real estate: Growth in Phoenix Continues
- 10/04/17 04:19 PM
Sunny Phoenix ranks fourth on BUILDER’s list of the country’s fastest growing markets in the country this year for good reason: Phoenix ended 2016 with its best year for sales and volume since 2006. Phoenix was expected to have price gains of 5.9% and sales growth of 7.2% for 2017. With a tighter new home market, steady growth in sales and price increases, with less foreclosures, Phoenix is living up to its expectations.
With the giant gain of job growth in Phoenix, (the tech industry seeing the largest boom), the multifamily market in the area is gaining traction as many people … (0 comments)
real estate: Economic Growth Thanks to Asian Immigrants
- 09/07/17 03:05 PM
As the population of Arizona continues to grow, a large amount of the Phoenix population are Asian immigrants. Arizona is second in the nation for Asian population growth. Properties that were once considered to be undesirable have been turned into hot commodities of vibrant economic centers by Asian entrepreneurs. Immigrants from Asia are either coming directly to Arizona or they're arriving here after struggling in California and New York. Businesses have begun and stayed near other family-owned-and-operated businesses creating an Asian mecca. Mekong Plaza was once a struggling 100,000-square-foot mall with a tattered Target building. The first three years were a … (2 comments)
real estate: Higher Demand for Home Buying as Conditions Get Better
- 08/17/17 04:16 PM
With the job market operating at a full capacity and mortgage rates being low, now is both a buyers and sellers market. . . as long as they choose to act quickly. In May 2017, the National Unemployment rate was 4.3 percent, according to the U.S. Bureau of Labor Statistics. For the U.S., this meets the definition of full employment across the nation. (When the unemployment rate falls below 4.7 percent, the labor market is determined to be at a full capacity.) Back in March 2017, the unemployment rate fell to 4.5 percent for the first time since late 2007. Additionally, the average interest … (1 comments)
real estate: An Economic Dream Come True Through an Airport
- 08/11/17 12:24 PM
It's amazing how the former U.S Air Force base has transformed over a few decades to become an economic stronghold for the Arizona region. In 2013, Arizona State University did a study of the economic impact the airport has made annually to our area. The airport has an annual impact of $1.3 billion and supports more than 10,000 jobs. Recently, a major announcement was made Allegiant Air: They're expecting to bring 200 high-wage jobs to the area along with eight new non-sop destinations. Allegiant Air is the airport's major commercial airline. With this announcement, the economy will feel a positive impact even … (0 comments)
real estate: Consumer Confidence Higher Than Last 16 Years!
- 07/26/17 01:22 PM
In March of this year, consumer confidence in the US Market escalated to a 16 year high per USA Today! Strong job and wage growth, lofty stock prices and cheap gasoline have all been rising factors in this strong confidence for the average American. Perceptions of the economy and labor market jumped to 125.6 percent; this is the highest since December 2000. Economists expected a downward trend this year off at least ten points, but saw the market surge upwards. This renewed optimism gives the suggestion that consumers feel that the current economy is an improvement from the previous periods. Since the level of … (1 comments)
real estate: Phoenix Job Market Ranked Among Top 10 in 2017
- 07/18/17 03:36 PM
According to a report by commercial real estate firm Marcus & Millichap, Phoenix is expected to see 2.8 percent job growth in 2017. This is up from 1.5 percent in 2016. As we look at the U.S. job growth as a whole, it is expected to be up 1.4 percent for 2017. Last year, the job market across the U.S. posted 1.5 percent gains, according to the MMI report. Eight cities are projected to have a higher job growth than the Phoenix area. 1) Orlando at 4.5 percent2) Fort Lauderdale at 4.3 percent3 & 4) Seattle and Salt Lake City at 3.4 percent5) Oakland … (0 comments)
About 75,000 more people left Los Angeles County in 2016 than moved to the county from elsewhere in the United States, according to U.S. Census Bureau data. Orange County is resembling the same trend. In Orange County, the median price for a home is $645,000, which is still higher than Los Angeles County.
Millennials and people with lower or middle class incomes are trying to break away from the high pricing demands of Southern … (0 comments)
real estate: Fannie Mae Shows Consumer Confidence Increasing
- 05/21/17 09:29 AM
For the first time in five months, consumer confidence has increased, according to the Home Purchase Sentiment Index. As of February 2017, this score increased 5.6%, up to 88.3% satisfaction. Incredibly, this is up 5.6% from February of 2016 as well.
Part of this increase could be that the respondents are also reporting household income increases for the past year. Americans are expecting for home prices to go up and for mortgage rates themselves to go down.
As millennials begin to surge the housing market, their increase in job confidence and income gains have quickly increased the home buying market. These … (0 comments)
real estate: More Jobs? More Real Estate?
- 04/26/17 12:50 PM
When you hear things like, "The US added 135,000 jobs were added to the US non-farm payroll and 58,000 jobs in construction" from the BLS (Bureau of Labor Statistics's employment report) you think wow, we are doing good as a nation. In fact, this number exceeded Wall Street Journal's expectation of 197,000 jobs.
There are 321.4 million people in the US according to the United States Census Bureau in 2015, and there are probably more now.
Our unemployment rate at 4.7% as of February 2017.
According to the Wall Street Journal, "a pickup in wage growth signals a tightening job market is forcing employers to … (0 comments)
According to builderonline.com, "a positive jobs report this past Friday--235,000 jobs created in February, and a lower unemployment rate of 4.7%-- carries with it four key meaningful areas of interest for home builders and developers at present: household wage growth, consumer confidence, good job concentration, and interest rate increases."
Those areas are: Wage and income growth. Consumer confidence. Good jobs. Interest rates going up. So let's talk about these 4 things.
The nominal wage growth was at 2.8% year over year in February.
Improved wage growth always means more homes are sold from both a lending … (0 comments)
real estate: Spring Selling Might Be Better Than Ever
- 04/13/17 12:26 PM
Much of the talk about the Federal Reserve's decision to raise Fed Fund rates by 25 basis points has been negative, saying that mortgage rates will increase, make home ownership unaffordable and perhaps derail the recovery of the US housing market.
We think….despite popular opinion, that it might be good for the housing market. Let’s look at why.
This decision to raise rates, will help potential home buyer make decisions now being that there are two more rate increases being considered. People want to save money now and are motivated by pain or pleasure. This will motivate those who see … (0 comments)
International Sportsmen's Expo and AZ Boat Show - March 23-26, 2017
Join us, again, at WestWorld of Scottsdale. If you came last year you saw how the show had grown. Really, really grown! More fun features for the entire family. New hands-on activities. More boats and RVs of all sizes and styles. And more exhibits, too--gear, guides, destinations and services for the hunter, angler, camper, boater, offroader, RVer--pretty much any outdoor enthusiast. For 2017, it's all back, and more. Join us!
Where: WestWorld of Scottsdale 16601 N Pima Rd. Scottsdale, … (1 comments)
real estate: 3 Sassy Ideas for Remodeling On A Budget
- 03/14/17 10:59 AM
Are you looking some easy, fun affordable ways to transform some rooms in your house? Here are some budget friendly transformations that will blow you away.
Before: Kitchen When a pipe burst under the sink, this homeowner knew it was time to remodel.
After: Kitchen Get stainless steel without going broke. A number of affordable appliance manufacturers now offer models almost identical to their high-end counterparts.
Unify everything with white paint to ensure that the new bottom cabinets matched the upper units, the homeowner paining both with Benjamin Moore's Linen White - a move that lightened up the whole kitchen.
You might be overwhelmed at the thought of moving. Don’t fret! We have put together 7 steps that might make the process come together a little more smoothly for you. Now that have made the decision to move and sell, let’s make sure this goes off without any hitches in the process. When you sign the paperwork at the closing table, realize the home no longer belongs to you so you want to make sure you have already executed your exit strategy. You might be thinking, … (0 comments)
real estate: What Makes Small Businesses Prosper in Metro Areas?
- 02/28/17 01:48 PM
The article, “The winning equation: What helps small businesses thrive in certain metro areas” looks at key factors and similarities between some of America’s most thriving places for small businesses. These factors included things such as number of small businesses per capita, private-sector jobs generated by small businesses, and change in population over three year periods. Florida’s metros seemed to outperform in almost all the metrics. Population growth is a major factor in the success of small businesses. Given Florida’s stable rate of increasing population, its demand is also growing, giving room for opportunity for small businesses.
Big businesses can also play … (1 comments)
real estate: Will The Trend Of Rising Home Prices Continue In 2017?
- 02/21/17 08:00 AM
While the trend of increasing mortgage rates and rising home prices isn’t going to leave in 2017, it is expected to slow down. According to a quarterly survey from the National Association of Realtors, existing-home prices are predicted to increase by 4% in 2017, which is a bit less than 2016’s 5%. The article, "Will Home Sales and Prices Continue to Accelerate in 2017?", explains that 2016 will remain as the year with the highest exisisting home sales since 2006's housing boom. This being said, there will still be some challenges up the road. Chief Economist Jonathan Smoke claims that this year … (2 comments)
real estate: Hurtful Habits Successful People Avoid
- 02/07/17 07:59 AM
The article “4 Horrible Habits Keeping You From Being Successful” talks about toxic habits that keep up from reaching our full potential. These habits are frustrating and can be crippling, and you should train your mind to avoid them
The first pernicious habit is weak self-discipline. When your schedule becomes hectic, it isn’t uncommon to spend more time on the details and little tasks, which can cripple your company. You can fix this by making a list of goals and priorities, and putting the steps you are going to take to get them done. At the end of the day, write down … (3 comments)
real estate: Major Cities See Their Middle Class Dwindle
- 01/31/17 08:49 AM
The article “How geography helps explain the stark divisions in wealth and jobs in the U.S.” talks about how the middle class is beginning to majorly dwindle in many major cities. According to a Research Center study published in 2015, America’s economic majority is no longer comprised of a majority middle class. Wealthy neighborhoods remain wealthy while gentrification is driving up real estate prices and pushing lower-income residents out of their former working-class neighborhoods.
This major wealth divide can even be seen within singular cities. For instance, in New York, 1 in 5 people live in poverty. While 20% of New Yorkers … (1 comments)
Buying a home is the largest investment most people make in their lifetime. Assisting people in achieving their real estate goals is our PASSION and the motto that we work by is providing "Service That Exceeds Your Expectations".
I love to see us growing!!!
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