Rent or buy? Gosh, isn't that the $64 Million Dollar question? And as many things go in real estate, the answer depends on your circumstances. Let's start with the current state of rentals here in Phoenix. In the ARMLS rental database the overall average lease rate for active listings is $1,820 per month and the … [Read more...] about Rent or Buy Your Home…Which is Better?
Real Estate Reality
A cold hard look at the inventory of affordable homes in Metro Phoenix, priced in the sub-$200K range - the sweet spot for first time and re-entry buyers, is sobering. Folks, there is no sugar coating this factoid. These homes are going fast. There are only about 3300 single family homes in Metro Phoenix - 2,300 in Maricopa … [Read more...] about Affordable Homes in Phoenix — $200K or Less, Going Fast
Last month, over 271,000 jobs were added in the U.S. - the highest amount so far this year. The unemployment rate dipped to 5 percent, and wages rose at the fastest pace since 2009. In a report released last week by the Feds, all signs point to a healthy U.S. job market, almost fully healed from the deep wounds of the Great … [Read more...] about Rising Mortgage Rates And The Rumors They Inspire
How to Buy A House...in a Nutshell! A simple Step-By-Step process for buying a house...it's not so hard...OK it's really harder than it looks but that's why they invented real estate agents! But seriously, there are 5 basic stages to buying a home here in Arizona: Get yourself a purchase contract Open escrow Do your … [Read more...] about How To Buy A House (In A Nutshell)
Real estate sales typically slow down towards the end of the year here in Phoenix. Buyers are distracted with holidays and take longer to make a decision. Inventory increases, so there are more choices. Advantages the sellers had during the busy season tend to wane as the weather cools off. But what if you NEED to sell your … [Read more...] about Can You Really Sell Your House in November (or December!)
What should you do if you get an offer that frankly is a piece of S*&;%T? Here are some spicy tips on how to make the best of a *#%$% situation... First, you have to be realistic. And that is secret code for price your house right. Second, understand your negotiating position. Is is a Seller's market, or do the … [Read more...] about Should You Wait for a Better Offer (If the one you got is a piece of $#%@)
Sometimes! Have you been thinking about buying a house but figure you won't live long enough to save up that huge down payment? Never fear! Hope is here! Arizona has several down payment assistance programs that provide a grant to homeowners who qualify that shaves 3% off the minimum down payment. That's a huge chunk of … [Read more...] about Can You Really Buy a House With Only $1000 in Your Pocket?
It's that time of year when things start cooking in Phoenix real estate and we are seeing trends that indicate a market that is going to favor most sellers for the months ahead. Demand is out pacing And rentals? Good luck! Inventory of single family homes for rent is the lowest since 2006! Questions? Just … [Read more...] about Hot-Chi-Wa-Wa: Phoenix – Mesa Real Estate Market Update – March 2015