Phoenix Real Estate Market Update for Sept 2016

Phoenix Market Update

Real estate market update courtesy of Craig and Stacey Akers at NextHome Valleywide. Contact 480-621-6828 or info@nexthomevalleywide.com for a Seller Solution book that will give you selling tips, pricing, and comparative home sales in your area.

For Sellers:  For those who own a condo or townhome, the shortage of single family supply under $200K is good news.  Sales of condos and townhomes are up 6.1% and the median sale price is up 12.5% .

For Buyers:  Buyers looking for larger single family homes under $200K may want to consider the Southwest Valley with 50% of all sales occurring under $185K and an average size of 1,929 square feet.

phoenix real estate
Sept 2016 – Commentary written by Tina Tamboer, The Cromford Report

72% of all purchases over the past month have been under $300K, which is why this price point dominates Phoenix Metro overall statistics and projections.  Sales between $300K and $500K are up 27.8% over last year, up 8.5% between $500K and $1M are exactly the same for sales over $1M.  Appreciation rates are not as strong in these price points because supply grew alongside demand, keeping the market in a balanced state.

Contact the real estate experts at NextHome Valleywide in Chandler, AZ at 480-621-6828 for more information.  If you are currently looking at buying or selling a home in the Phoenix, Scottsdale or East Valley area and are not sure where to turn, search for homes at ChandlerAreaHomeSearch.com, where you can find single family homes, golf and lakefront properties, 55+ communities, townhomes and much more.

Your Retirement Home: Why You Want to Buy Before You Retire

Many people dream of buying their ideal retirement home AFTER their career has come to a conclusion.  However many real estate professionals strongly recommend that their clients find a retirement property

retirement home
Don’t wait til you retire to buy your retirement home!

BEFORE they’re off the payroll. While it may seem like a big time commitment to find a new home while you’re still busy with your work there are several significant financial benefits to purchasing your retirement home before you actually do retire.  Here are our top reasons why.

It Makes Your Mortgage Easy

When you are employed it is easier to get approved for a mortgage. If you wait until after you retire to buy your retirement home, you may not have the income require to qualify for the mortgage that you need. Don’t limit yourself! Buy while you’re still employed to keep your options open.

It Leaves You With More Spending Money

Buying a new home while you have an income provides you with more security with your expenses, such as mortgage payments and planned upgrades or renovations. Having an income can also mitigate financial stress should you run into any unexpected expenses after closing.

It Leaves You Ready For Reality

You may think you can accurately predict the expenses of your new home, but if you buy the property before retiring it gives you time to get to know the true amounts of your monthly payments. This can help ensure that you have enough saved to retire and live comfortably in your new property, with no surprises for your budget. You’ll be in a better position to create a financial plan once you know the reality of owning your new home.

An Added Bonus: It Can Be An Income Property

If you decide to purchase your retirement home before you retire you don’t have to move into it right away. You can rent it out as an income property until you’re ready to settle in, which will not only help cover mortgage payments but will also allow you to see firsthand what the monthly expenses are for the property.  This will also prevent you from having to deal with a move while working; you can wait until you do finally retire before packing up your current home and moving into your new one.

Ready to find the perfect retirement property?  Contact the real estate experts at NextHome Valleywide in Chandler, AZ at 480-621-6828 for more information.  If you are currently looking at buying or selling a home in the Phoenix, Scottsdale or East Valley area and are not sure where to turn, look for homes at ChandlerAreaHomeSearch.com.  Here you can search for golf and lakefront properties, 55+ communities, and much more.

Selling in 2016?  Hire the Right Real Estate Agent

Hire the Right Real Estate Agent at NextHome Valleywide
Hire the Right Real Estate Agent at NextHome Valleywide

Whether you’re familiar with the Arizona market or you’ve never sold a home before, an effective real estate agent can be exactly the thing you need to make for a positive market experience. With the world of real estate in a constant state of flux, here are a few reasons why the right agent can successfully guide you through the muddled waters of the market.

A Skill For Communication

In the case that the real estate market makes you nervous, it’s particularly important to have the kind of agent who will keep you in the loop and give you the information you need to make an informed selling decision. An agent with the powers of communication will be able to give you honest advice when it’s required, like if it’s time to lower the price of your house, so that you can have success in achieving the offer you’re looking for.

A Willingness To Work Hard

There are many agents out there who won’t be willing to put in additional effort for a client, but the kind of agent you’ll want to choose should be someone who is a go­-getter and will chase potential business for you. Instead of waiting around, an ideal agent should be following up with potential buyers and ensuring that they’re chasing any leads that may guarantee the purchase of your home. If you have to ask them to be proactive, they’re probably not the right person for the job.

A Throng Of Client References

A real estate agent that is worth their salt should not hesitate to provide you with client references so you can make an informed, educated decision. Instead of asking for their personal references, though, request the names of their last ten clients as this should give you a pretty good grasp of that their capacities as an agent are, and how they will serve you. If they are indifferent about providing references, you’ll want to move on to your next potential agent.

The real estate market is rife with a lot of things to know and it can be complicated to jump into the tides, but the right agent can actually make the process of selling your home a lot less stressful. If you’re currently looking at buying or selling a home in the Phoenix, Scottsdale or East Valley area and are not sure where to turn, contact the real estate experts at NextHome Valleywide in Chandler, AZ at 480-621-6828 for more information.