Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019.

 

As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

5 Reasons to Hire a Real Estate Professional Before Entering the Market!

Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal!

The 5 reasons you need a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates and home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. So you found your dream house, now what?

There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyers (who want the best deals possible), to the home inspection companies, all the way to the appraisers, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start in order to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you its true value. According to a recent article by the National Association of Realtors, FSBOs achieve prices significantly lower than the prices of similar properties sold by real estate agents:

“FSBOs earn an average of $60,000 to $90,000 less on the sale of their home than sellers who work with a real estate agent.”

Get the most out of your transaction by hiring a professional!

5. Do you know what’s really going on in the market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Financial gurus say that, when getting help with money, whether it’s commercial property insurance from sites like academywestinsurance.com/services/commercial-property-insurance-services-in-fresno-ca/, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic, so why would you make one of the most important financial decisions of your life without hiring a real estate professional?

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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.

There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents.

Children are More Likely to Own a Home if Their Parents Did

According to an analysis of millennial homeowners and Glen Burnie lawyers specializing in family law, the homeownership rate of those whose parents rent their homes is 14.4%, while the rate amongst millennials whose parents are homeowners is 31.7%!

“A young adult’s odds of homeownership are highly correlated with their parent’s homeownership.

Without controlling for such factors as age, income, education, marital status, and race or ethnicity, there is a 17 percentage-point gap between the homeownership rate for young adults whose parents are renters and young adults whose parents are homeowners.”

The study also revealed that as a parent’s net worth increases, so does the likelihood that their child will own a home. These two findings are not surprising as we know from the Survey of Consumer Finances that a homeowner’s net worth is 44x greaterthan that of a renter.

So, a parent who is a homeowner will have more wealth which will, in turn, increase the chances that their children will own their own homes in the future. For immigration lawyers in New York, people can click here and hire them.

Below is a breakdown of the relationship between a parent’s wealth and a millennial’s likelihood to own a home. Parents can check out estate planning law firm for hire and get their help for estate planning procedures.

The Good News: The high homeownership rate amongst baby boomers (likely the parents of many millennials) is a great sign that millennials will want to own homes. We are already seeing this in the high-demand environment that we are currently experiencing in the starter and trade-up markets.

Bottom Line

Even though millennials took longer than many of the generations before them to start home searches of their own, the data shows that they will not be waiting much longer!

Supply & Demand Will Determine Future Home Values

Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:

“The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”

When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.

Here are the numbers for supply and demand as compared to last year since the beginning of 2018:

The increase in the June numbers doesn’t mean that prices won’t continue to appreciate. In that same report, Lawrence Yun, NAR’s Chief Economist, explained:

“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels.

Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.”

Bottom Line

The reason home prices are still rising is that there are many purchasers looking to buy but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick.

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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

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Real Estate Marketing Statistics August 2018

Supply between $200K-$250K has Risen 8.1% since May
Seller Price Reductions Up 7% in Popular Price Range

For Buyers:

If your budget lies somewhere between $200,000 and $400,000 for a home, there’s good news for you.  Supply between $200,000 and $250,000 has been rising gradually over the past 12 weeks.  After dropping 15% from 2,300 listings in January to 1,944 in May, it has since risen 8.1% to 2,101 listings in August, placing it only 6.7% below last year’s count instead of 18% below like it was 3-4 months ago. Listings between $250,000 and $400,000 have also risen sharply 5.3% from 4,791 to 5,044 over the past 4 weeks, placing them only 0.2% below last year’s count of 5,053 listings. The increase in competition has resulted in a notable 7.3% increase in weekly seller price reductions from an average of 778 per week in June to 835 in July.  56% of year-to-date sales in Greater Phoenix have been between $200K-$400K so this increase in supply should come as a little bit of relief for the majority of buyers.

For Sellers:

If you have a home listed between $200,000 and $400,000, then you make up 48% of everything that’s listed in the MLS.  Listings under contract in this price range have averaged 7.4% higher in volume than 2017 all year, until now.  Over the last two weeks, including the end of July through the first week in August, listings in escrow have dropped to 2.2% below last year’s level.  Buyer activity is expected to slow seasonally from the peak in April through the end of the year; however open contracts have dropped 26% since the 2018 April peak compared to a lower 20% drop in 2017 over the same time frame; all while corresponding supply has been rising.  Sellers haven’t seemed to notice this sharper decline as their average asking price per square foot has soared from just 3% higher than last year in March to as high as 7% higher in July.  The average sales price per square foot was up 5.9% in July, compared to 4.6% in June.  However, price is a lagging responder to shifts in supply and demand. We will have to wait and see if buyers accommodate sellers’ price expectations given that they have more to choose from in the marketplace right now.

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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

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What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

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

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The waste removal company in Anthem Arizona is Republic Trash Services. Republic Services collects trash for the east side of Anthem which includes Parkside, The Landings, and the Country Club. This article will cover everything you need to know about waste removal in Anthem Arizona. There are some materials you can easily recycle.

Services

Republic Trash services provides a variety of waste disposal options. Normal trash and recycling, bulk trash removal, and the spring/fall electronics, hazardous materials, and paper shredding. All of these services are included in the quarterly rate that is paid by the residents.

Trash and Recycling

Residents of Anthem have their property serviced by Republic Services once a week. Residents need to make sure that their trash/recycling container is out for collection the night before or prior to 6 a.m. on their designated collection day. The containers should be placed on the street and not the sidewalk. Residents should allow 3 feet between each container that is out for service. Make sure to check here to understand the kind of materials that can and cannot be recycled. Understanding these procedures helps keep the community clean and organized, which is why you need a dumpster for efficient waste management.

Bulk Trash

Bulk trash pickup is provided through Republic Services. This is defined as any item that does not fit into a garbage container which includes: furniture, trees, appliances, beds, etc.

Electronics, Hazardous Materials, Shredding

The waste removal company in Anthem also provides recycling of hazardous materials and paper shredding. Typically in the spring and fall of each year Republic Services sets up a shredding and hazardous waste disposal drop-off at the Anthem community center. All that home owners need to bring is proof of residency to take advantage of this fantastic free service.

Important Dates

Holiday Service Schedules

Labor Day – September 3 2018 – Services Monday through Thursday will take place on the following day.

Thanksgiving Day – November 22 2018 – Services Thursday through Friday will take place on the following day.

Christmas Day – December 25 2018 – Services Tuesday will take place the following day.

New Years Day – January 1 2019 – Services Tuesday will take place the following day.

Christmas Tree Drop Off

In Anthem after your tree has begun to fade away with the holidays you can get rid of it for free! Republic Services provides services on December 29 2018 and January 5 2019 at Anthem Community Park to get rid of your Christmas tree.

Rates

The quarterly rate for Republic Services once-weekly pickup of trash and recycling is $55.89 for service dates between Jan 2018 and Dec 2020.

• New Account setup is $0
• One time free container repair or replacement per year
• Service for an extra container $15.18 per quarter
• Additional Bulk Pickup $125 and must be scheduled in advance.
• Additional unscheduled service $15.
• Vacation hold request no charge. Residents must be gone longer than 10 days, but no longer than 6 months. Resident will receive prorated statement for next billing period.
• Walk-up service $75 per quarter.

Information Provided Courtesy of Republic Services 

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