For some, calling a lender to get pre-qualified for a mortgage is an anxiety-riddled, hand-wringing, whiskey-swigging dilemma. Should I or shouldn't I? It's a big deal...or is it? The fact is, it is pretty much pointless to go house-shopping without checking in with a lender first. It's like going shopping without your … [Read more...] about The Big Pre-Qualification Question
It's about that time when I like to tantalize all of you with some market statistics! How is the Phoenix real estate market so far in 2016? Well let's take a look... Supply is gradually increasing as it usually does this time of year, but demand has been a little sluggish in the price ranges below about $250-300K in most … [Read more...] about First Quarter 2016 – Review of the Phoenix Real Estate Market
https://youtu.be/lfrwDv1DgqY This weekend, I submitted offers in two "bidding wars". OK. They were more like bidding skirmishes, as a bidding war these days usually garners 3-5 offers compared to the 25-40 offers we were seeing a few years ago. Multiple offer situations tend to scare buyers. But guess, what? My clients offers … [Read more...] about Bidding War? Bring It, Baby!
And now, for the traditional look-back at the year that was. How did the Phoenix real estate market fare in 2015? Not too shabby! In a nutshell, 2015 favored sellers over buyers in most areas, as has been the trend since 2011. The good news for buyers, however, is that sellers can no longer dial it in. There were far more … [Read more...] about Phoenix Real Estate Market – 2015 in Review
Told ya... As expected, the Federal Reserve announced that short-term interest rates would rise by 25 basis points (0.25%), the first time the interest rate has increased since 2006. For seven years, the Fed held short-term rates near zero to apply the paddles to the cardiac crisis that hit the US economy back in 2006, and … [Read more...] about Interest Rates Rise for the First Time Since 2006