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
Home Buying Tips
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!
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
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
Bidding on a Foreclosure? It's Not Over Until It's Over! With the competitive Buyer's market we are seeing in Phoenix right now, buyers are frustrated when they lose out in the bidding wars. But lately, I have seen a surprising turn as buyers are bidding on multiple properties - it's never over until it's over! Buyers are … [Read more...] about Multiple Counter Offers – Bring ‘Em On!!