Let's Talk Interest Rates! Interest rates have been the talk of the town. And it's no wonder with how quickly they have risen and the daily fluctuations which could be as high as 3/4 of a point in one day. Rates are currently hovering in the mid 5's. That sounds shockingly high! In reality, it's not. Take a look at the chart below (courtesy of Eric Swenson with Nova Continue Reading
The Market is Shifting – May Stats
As we analyze May's market stats, we see more and more signs of the Market Shift that we keep seeing pop up in the news headlines. Some highlights from the latest stats: 🟢Inventory has increased by 90% in the last 2 months alone ⚪️Buyer Demand has dropped by 8% in the same timeframe 🟢Year-over-Year price increases remain in the double-digits ⚪️Homes under $500K see the largest Continue Reading
Keeping Pets Safe in Arizona Summers
The Summer Months are full of fun, lazy days and lots of fun! But in Arizona, those days can get hot. Really hot! And really fast. It's important to remember these safety tips for keeping our fur babies safe during the hottest months of the year. Continue Reading
Should Sellers Attend the Home Inspection?
Should you, as the Seller of the property, be home during the inspection? This is a question I get often. While every situation is different, typically I would answer this with a big fat "no". Inspectors spend several hours going through the entire property. Some of what they include in the inspection report is simply informational for the new buyer. Some may be items of deficiency. Continue Reading
Pricing Your Home Correctly in a Seller’s Market
Pricing your house right even in a Seller's Market is Crucial! Many homeowners are eager to list their home for sale right now as we are, and have been, in a hardcore Seller's Market. Pricing your home correctly is a must, even in this crazy market. You may be surprised to know that only about 50% of the homes selling right now are receiving multiple offers and selling for over list Continue Reading
Market Snapshot – February 2022
Demand Remains High while our Inventory Remains Low NAR (National Association of Realtors) reported the lowest level of inventory (nationwide) since 1999! Most local areas have seen a double digit year-over-year price increase as a result. However, interest rates are on the rise. The average home currently accounts for 24% of average income. Typically we say max housing Continue Reading
Where Have All the Sellers Gone?
2022 is speeding along. Now into the second month of the year and the real estate market is still on fire. My personal observations: I’ve heard a lot of talk about buyers slowing down, but I have not seen that in action. I’m sure certain areas or neighborhoods may have had a slower month (which is normal) but overall that’s just not the case. There is still high Continue Reading
2021 Economic Snapshot
The numbers are in and 2021 marked a 39-year high in Inflation with a whopping 6.8% increase. The housing market continued to climb due to a shortage of homes available for sale coupled with high demand. We saw an average year-over-year increase in sales price of 25.3%. That equates to an average sale price increase of $168,867 compared to just one year ago. The largest Continue Reading
Are We in a Bubble?
One of the top rated "Google Searches" for 2021 is "Are we in a housing bubble?". It's not surprising that for those of us who were in the housing crash a decade ago, there would be concerns about a repeat. The overall consensus is that NO we are not in a housing bubble and NO there will not be a crash. WHY? The main difference is that back in 2005-2006 we were actually Continue Reading
Is the Market Softening?
We are now heading into the second half of 2021! The BIG BUZZ phrase right now is "Market Softening". We are hearing it all over the place. Some people think that means we are now balanced, others think nothing changed, and a few people are still saying we are crashing. Let's look at a few stats to show what's really happening: New Inventory is UP 5.8% month over month Continue Reading
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