Happy New Year 2017 – Looking Ahead in Phoenix Real Estate

We have spent 7.5 years in an awesome growth period as a country. On the flip side, this makes us well overdue for a little recession. That’s pretty amazing though – considering we’ve come a long way from foreclosure and losing our homes back in 2008.

The interesting thing about being overdue for a recession is this: It’s kind of like being overdue for a major earthquake in Los Angeles – except a tiny recession is much more likely to happen yet won’t leave your life in shambles.

This mini-recession will not be anywhere near as bad as 2008. We won’t have to rebuild an entire city, or country, for that matter.

If you have never had to experience or live through an actual earthquake, you are doing pretty good my friend.

 

Here are some friendly tips to brace yourself for the mini-recession because IT IS COMING:

Tip #1 Set up a little emergency fund. Pay yourself! Set aside about 2 months of income in an FDIC-insured account. Not in a stock plan or anything similar. We want your money to be protected and unaffected by the stock market. Certificate of Deposits at insured online banks like Ally and Capital One are a good start.

Tip #2 Live within your means. Really tackle your budget. Cut down on expenses (i.e. Starbuck’s, eating out at restaurants or bars, getting your nails done, AppleTV, Netflix, Xbox Live, etc.) and make sure that you have a surplus of funds every month – even if it’s only a few dollars or a few hundred dollars.

Tip #3 Pay off your debt. Make sure you’re not carrying big credit card balances. Don’t go to those big title loan companies! If money is tight, find a way to cut the expenses rather than going into debt (or more debt if you’re already in debt). Being in debt in a recession is the kiss of death.

Tip #4 Recession proof your income. If you’re lucky enough to have a job or if you’re working for yourself, treat your job like a business. You are responsible for your own income, which is essentially your own mini-economy. So, if your job is not cutting it look for other opportunities and make as many valuable industry connections as you can before you leave your job. Maybe look for multiple sources of income that you never thought were possible in the past.

Tip #5 Diversify. If you have investments, spread them around. Stay away from the high-risk stuff. Let the people that are willing to live in their cars if things don’t work out invest in the high-risk stuff. There are a lot of solid investments out there in that if there is a downturn, and these investments do take a hit, they’re more than likely to recover.

Overall, cut down the weekly latte habit (buy a French Press or Keurig), and think long-term when it comes to mini-recession-proofing your life. Don’t dip into the piggy back if times get tough. I believe in you.

If you have any questions or concerns, you know where to find me!

Kristin LaVanway
480-282-7464
kristin@hereinphoenix.com

Displaying 1 - 15 of 37 results.
Sort by:

304 S Wayfarer --, Mesa 85204, Mesa Mobile Estates 3

  • $58,900
  • Bedrooms: 2, Baths: 2
  • Home size: 698
  • Lot size: 5,829
  • Year built: 1970
  • MLS #: 5808156
ARMLS Logo

8222 E 5th Avenue, Mesa 85208, Desert Sage 4

  • $79,900
  • Bedrooms: 3, Baths: 1.5
  • Home size: 1,100
  • Lot size: 9,008
  • Year built: 1956
  • MLS #: 5807915
ARMLS Logo

2520 E Manhatton Drive, Tempe 85282, Knoell Tempe 2

  • $283,000
  • Bedrooms: 4, Baths: 2
  • Home size: 1
  • Lot size: 7,200
  • Year built: 1971
  • MLS #: 5801709
ARMLS Logo

7551 E Capri Avenue, Mesa 85208, Linda Vista Unit 2

  • $181,900
  • Bedrooms: 3, Baths: 2
  • Home size: 1,200
  • Lot size: 6,350
  • Year built: 1974
  • MLS #: 5808068
ARMLS Logo

6444 E Indigo Street, Mesa 85205, Maplewood 2 Lot 1-126 TR A

  • $230,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,486
  • Lot size: 8,893
  • Year built: 1986
  • MLS #: 5801159
ARMLS Logo

1452 W La Jolla Drive, Tempe 85282, Fiesta Villages

  • $139,000
  • Bedrooms: 2, Baths: 1.5
  • Home size: 1,045
  • Lot size: 877
  • Year built: 1984
  • MLS #: 5739150
ARMLS Logo

2132 E Tulane Drive, Tempe 85283, Knoell Tempe 7

  • $259,900
  • Bedrooms: 3, Baths: 2
  • Home size: 1,647
  • Lot size: 7,418
  • Year built: 1976
  • MLS #: 5791194
ARMLS Logo

11 E Fairmont Drive, Tempe 85282, NU-Vista 3 Lots 126-195

  • $300,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,444
  • Lot size: 7,192
  • Year built: 1960
  • MLS #: 5805160
ARMLS Logo

1810 N Comanche Drive, Chandler 85224, Brooks Crossing 2 Lot 55-151

  • $239,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,420
  • Lot size: 7,941
  • Year built: 1981
  • MLS #: 5805739
ARMLS Logo

738 W Rio Salado Parkway, Mesa 85201, Unknown

  • $249,000
  • Bedrooms: 2, Baths: 2
  • Home size: 2,183
  • Lot size: 23,687
  • Year built: 1957
  • MLS #: 5803715
ARMLS Logo

237 S Crosscreek Drive, Chandler 85225, Springs Unit 2 Amd Lot 30-213 217-276 278-454

  • $237,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,597
  • Lot size: 4,670
  • Year built: 1992
  • MLS #: 5790176
ARMLS Logo

5424 S El Camino Drive, Tempe 85283, University Royal

  • $259,000
  • Bedrooms: 3, Baths: 1.75
  • Home size: 1,750
  • Lot size: 8,126
  • Year built: 1973
  • MLS #: 5792082
ARMLS Logo

1827 S 80th Street, Mesa 85209, Desert Sands Golf & Country Club Unit 6

  • $65,000
  • Bedrooms: 2, Baths: 2
  • Home size: 781
  • Lot size: 6,499
  • Year built: 1970
  • MLS #: 5753473
ARMLS Logo

422 E Laredo Street, Chandler 85225, Summerset

  • $225,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,440
  • Lot size: 5,001
  • Year built: 1994
  • MLS #: 5803437
ARMLS Logo

29967 N Sandridge Drive, Queen Creek 85142, Chandler Heights Ranches Unit Iii

  • $159,900
  • Bedrooms: 3, Baths: 1.5
  • Home size: 1,291
  • Lot size: 85,813
  • Year built: 1972
  • MLS #: 5743355
ARMLS Logo
Copyright 2018 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

IDX Solution Provided by iFoundAgent.com

ARMLS Listing Data last updated 8/17/2018 4:08 PM MST.