Archives for May 2019

Things To Do June 2019

Free Fishing Day June 2, 2019

Arizona’s Free Fishing Day will be celebrated on June 2 this year as part of National Fishing and Boating Week, which runs June 2-10. During that Saturday only, no fishing licenses are required for persons fishing any public waters in AZ.

azgfd.com

Flashlight Tours

Jun 1, 2019 – Aug 31, 2019

At Desert Botanical Garden, summer nights shine with flashlight tours. All ages will have a blast getting hands-on during this self-guided nocturnal adventure through the garden. Plus grab some food and drink and chill out.

dbg.org/events

Hot Rod Night at Westgate

June 5, 2019

Visitors can enjoy a classic car show, live music, and special deals at nearby restaurants and bars. Admission is free.

westgatecitycenter.com/bikenight

SMoCA Summer Opening Party

Jun 7, 2019

Spend your warm summer evening in the cool galleries, chatting with curators, mingling with artists, interacting with art and exploring the exhibitions. This event will include a cash bar.

smoca.org/event/summer-opening-party-2019/

Mighty Mud Mania

June 8, 2019

Activities for all ages. The younger group can enjoy the mini mud course, mini waterslide, mud pit, sandcastle building, and an area dubbed “Mudville.” Older children can try the original mud obstacle course, sandcastle building,

and mud pits. Adults can get muddy, too, in the Extreme Mud Course.

scottsdaleaz.gov/mighty-mud-mania

Prowl & Play: Superheroes Unite!

June 9

Featuring fantastic waterslides and water features, character meet and greets with your favorite superheroes, a DJ dance party, Boom! Bam! Pow! agility training, animal discoveries and more.

phoenixzoo.org/event-items/prowl-play-kids-street-fest/

Lasers & Liquor: Beyoncé and Queen

Jun 13, 2019

Fall Crazy In Love with our state-of-the-art laser system with 14 mind-blowing special effects. Let the high-tech, multicolored laser light show on the Dorrance Planetarium dome rock you. And, practice those scales because karaoke starts on the dome at 6:30 p.m. Grab an adult beverage and get ready to be entertained.

azscience.org/lasers-and-liquor-june-2019/

Snacky Snacks: Games and Snack Fest

Jun 14, 2019

Enjoy a variety of snacks across different cuisines from over eight local businesses. We will have traditional games such as giant Jenga and tabletop board games. To top it off, we will be hosting a Super Smash Bros Ultimate video game tournament! The snack festival will be held indoors in the Fellowship Center at North Phoenix Baptist Church. This is the perfect family friendly, summer time activity to escape the heat!

facebook.com/events/757835851253679/

Bloomin’ Beerfest

Jun 15, 2019

Join the Irish Cultural Center and McClelland Library for craft beer tastings, live music, a costume contest and more.

azirish.org/bloomsday/

Miss Arizona Pageant

June 20–22, 2019

You can see some of the brightest and most talented young ladies in the state compete for the Miss Arizona and Miss Arizona Outstanding Teen crown. The Miss Arizona winner will get to represent the state at the Miss America Pageant. The event takes place at the Mesa Arts Center.

missarizona.org

Grand Canyon Centennial Summerfest and Star Party

Jun 22, 2019 – Jun 29, 2019

During the day, the centennial summerfest will bring together park partners to showcase everything Arizona has to offer. At night, park visitors can explore the wonders of the night sky at the star party. Amateur astronomers from across the country volunteer their expertise and offer free nightly astronomy programs and telescope viewing.

nps.gov/grca/planyourvisit/grand-canyon-star-party.html

Four Peaks Brewing Company’s 8th Street Brewery tour

Through Dec 28, 2019

Join us every Saturday for complimentary tours of the 8th Street brewery. Each tour, led by an experienced Four Peaks guide, offers insight into our operations, showcases our history and gives an in-depth overview of the brewing process. Tours will also cover aspects of our laboratory testing, water treatment, barrel-aging program and more.

brewcruizer.com/event/four-peaks-8th-street-brewery-tours.html

If you’re interested in purchasing or selling a home you can start by Contacting Us directly or start searching for your new home here Anthem, Desert Hills, New River, Phoenix, Mesa, Scottsdale, Tempe, Glendale or Surprise.

3 Graphs that Show What You Need to Know About Today’s Real Estate Market

The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices!

The best way to show what’s really going on in today’s real estate market is to go straight to the data! We put together the following three graphs along with a quote from Chief Economists that have their finger on the pulse of what each graph illustrates. The lyons estate experts is who one should call when it comes to real estate deals.

Interest Rates:

“The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of home sales. Rising sales demand coupled with more inventory than previous spring seasons suggests that the housing market is in the early stages of regaining momentum.” – Sam Khater, Chief Economistat Freddie Mac

Income:

“A powerful combination of lower mortgage rates, more inventory, rising income and higher consumer confidence is driving the sales rebound.” – Lawrence Yun, Chief Economist at NAR

Home Prices:

“Price growth has been too strong for several years, fueled in part by abnormally low interest rates. A mild deceleration in home sales and Home Price Index growth is actually healthy, because it will calm excessive price growth — which has pushed many markets, particularly in the West, into overvalued territory.” – Ralph DeFranco, Global Chief Economist at Arch Capital Services Inc.

Bottom Line

These three graphs indicate good news for the spring housing market! Interest rates are low, income is rising, and home prices have experienced mild deceleration over the last 9 months. If you are considering buying a home or selling your house, let’s get together to chat about our market!

What to Consider When Choosing Your Home To Retire In

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement. Here are few New Skills for Seniors to Learn Is a Great Way to Stay Mentally Sharp and More Engaged that is very good for your both physical and mental health.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability

“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $9,700 in equity last year.

3. Maintenance

As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline. If there’s a maintenance problem such as roofing or septic tank cleaning, they’ll be the ones to hire experts such as a roofing service.

As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the maintenance work yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

As scary as that thought may be, any additional security is helpful. An extra set of eyes looking out for you always adds to peace of mind.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Consider all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs. Planning ahead can make all the difference, especially when unexpected health challenges arise. When medical care doesn’t meet the standard it should, the consequences can be serious. Trust California medical malpractice attorneys to provide expert legal representation, ensuring your case is handled with care and professionalism.

7. Convenience

“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!

Real Estate Marketing Statistics May 2019

Median Sales Price up 5.9% to $270,000 in Greater Phoenix

Sales Rebound, Up 3.7% Over Last Year

For Buyers:
The median rent paid on single family rentals through the Arizona Regional MLS is currently $1,625 per month, which is comparable to what the mortgage payment would be on a median-priced $270,000 home with 4% down at today’s interest rate (including approximate taxes, homeowners insurance and mortgage insurance). If a buyer were to purchase that home today, within 5 years they would have nearly $35,000 in equity just from making their mortgage payment, not including any appreciation in value, while the business selling the property make a good profit less taxes, which are actually easy to find thanks to services like this VAT Calculator online. If prices were to rise at a modest 2.1% per year (the average long term rate of inflation) within that same 5 years, then they would have an additional $43,000 in equity just from appreciation. This scenario would result in $78,000 in total equity within 5 years and by year 3 they would be able to remove any mortgage insurance from their payment, which would save another $200 per month approximately. And don’t forget, securing reliable home insurance like those offered at house insurance Ontario is essential when owning a property.

For Sellers:
Low interest rates are continuing to fuel buyer demand and there are now 2.5% more listings under contract today than there were last year at this time and 3.7% more sales. All in all an impressive rebound as interest rates have remained below 4.2%, keeping affordability stable for the time being. Increased demand in the 2nd quarter has resulted in strengthening the weakening seller market after a full 7 months of decline. May is typically the highest month for listings under contract and buyer activity is expected to decline from here through December as it typically does every year. Don’t think you’ve missed the boat if you need to list however. On average since 2001, about 52% of all sales happen in the first half of the year and 48% in the second.

Home Value Appreciation Stops Falling, Begins to Stabilize

The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.

In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:

“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey.”

The thinking that home appreciation has bottomed-out was also confirmed in two additional housing reports recently released:

CoreLogic Home Price Index – The analysts at CoreLogic increased their projection for home appreciation for the next twelve months to 4.7% as compared to the 4.6% they projected in their previous report.

The Home Price Expectation Survey – In the 2019 first quarter survey, the nationwide panel of over one hundred economists, real estate experts, and investment & market strategists increased their projection for home value growth in 2019 to 4.3% compared to the 3.8% increase they had projected in the fourth quarter of 2018.

Bottom Line

Agents working the business every day, one of the premier data companies in the real estate space, and one hundred housing experts all agree: home price appreciation has ended its decline and looks to be stabilizing… and may even accelerate.

Are Low Interest Rates Here to Stay?

Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!

This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this to say,

“Mortgage interest rates have been steadily declining since the start of 2019. These lower mortgage interest rates combined with a strong labor market should attract prospective homebuyers this spring and could help the housing sector regain its momentum later in the year.”

To put the low rates in perspective, the average for 2018 was 4.6%! The chart below shows the recent drop, and also shows where the experts at Freddie Mac believe rates will be by the end of 2019.

Bottom Line

If you plan on buying a home this year, let’s get together to start your home search to ensure you can lock in these historically low rates today!