Living 48 Real Estate Team

We talk about the seasonality of the market quite frequently. I want to thank Chris Butterworth for preparing this chart and explanation to share with you. This shows in a visual way, exactly what we are talking about! Let me know if you have any questions on this or anything else in the real estate subject area. I’m here to be a resource to you! Maricopa County Seasonal Sales Volume The seasonality in the Maricopa County real estate market couldn’t be more obvious, or consistent. Lots of sales in April, May and June; not as many in December, January and February. The highs have risen slightly higher each year, but the lows have gotten lower as well. Overall volume per year has remained relatively level over the last 3 years: up slightly in 2017 and then flat in 2018 and 2019 YTD. - Chris Butterworth * All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

Over the last several years (ever since the recovery started to happen) we have heard lots of doomsday reports of another recession or economic crisis being right around the corner. Bad news sells of course, but we also know that (at least in real estate) the market is cyclical and it will go up and down. Panic typically comes from being unprepared for unexpected events and so we thought it would be a great idea to discuss some of the financial lessons we learned from several financial cycles that we have experienced. We hope you find this information helpful and would love to have a conversation with you about any of these points should you desire. First point: Your home isn’t always an investment. I think it is important to understand that when you buy a primary residence, you may buy it with the thought that one day this will be a great investment property and chances are that if you hold onto it long enough, it absolutely will be. HOWEVER, when you are buying a primary...

Home Viewpoints The Fed Doesn’t Dictate Mortgage Rates Ruben Gonzalez, Keller Williams Chief Economist|Published: Jul. 9 2019 Mortgage rates have dropped since late last year, and that’s good news for consumers. Lower rates mean consumers pay less over the life of their home loan. For agents, taking the time to understand how mortgage rates work is key. As you guide your clients through the homebuying or selling process, it’s a tool you can use to drive informed conversations and help them better weigh their options. So, what’s important to know about mortgage rates? First off, let’s talk about a common myth out there, that the Federal Reserve, also referred to as “The Fed,” sets mortgage rates. That’s not entirely true. What’s the Federal Reserve? It’s the central bank of the United States, and it controls our money supply. If you think about the U.S. economy as a person, money is the blood, the banking system is the heart, and the Fed is our cardiologist. Congress has tasked the Fe...

In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle. In fact, the advantages of downsizing are being increasingly recognized. A “tiny house movement” has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home typically cost less, it also takes less time and effort to maintain. 1 Whatever your reasons are for downsizing, the process can seem overwhelming. That’s why we’ve outlined five steps to guide you on your journey. And in the end, we hope you’ll find that less is more … more comfort, more security, and more time and energy to spend on the activities and the people that you love. 5 STEPS TO DOWNSIZING SUCCESS Determine Your Goals and Limitations T...

If you’re thinking about buying a home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment. With so much information to sift through, it can be tough to distinguish fact from fiction. That’s why we’re revealing the truth behind some of the most common home buyer myths and misconceptions. Buying a home is a big decision, but it doesn’t have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you’ll be well equipped to make the right choices for your family and financial future. DON’T FALL FOR THESE COMMON HOME BUYER MYTHS Myth #1: You need a 20% down payment. Plenty of buyers are purchasing homes with down payments that are much less than 20% of the total cost of the property. Today, you can buy a home with as little as 3-5% down. There are mu...

It’s that time again for a “What’s Happening In the Market” blog!!! Each and every month I attend a Phoenix and ARMLS (Arizona Regional Multiple Listing Service) Market Update meeting where we review the previous month’s numbers and discuss the trends and seasonal fluctuations we see in the market. This blog is a quick recap of the information we discussed and I invite you to reach out to me with any questions you have or if you want to dive deeper into something. Market Factoids: Supply: 3.5 months - this number is down from the previous month Inventory: 91 days Active Days On Market: 99 days Closed Days On Market: 73 - up from the previous month Active $/SF: $224.64 - down from previous month Sold $/SF: $163.88 - up from the previous month Ave. Sold: $326,049.00 - up from the previous month Median Sold: $261,500.00 - up from the previous month As of the day we pulled the numbers there were 18,942 active listings in the MLS. This number is down by about 1% month over ...

Discover What Buyers Will Pay in Today's Market It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is trickier. As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!). For buyers, it’s important to know a home’s worth before you make an offer. You want your offer to be competitive, but you don’t want to overpay for the property. Even if you’re not a buyer or seller right now, as a current homeowner you might just be curious about the value of your home. Keeping track of your home’s worth year over year helps you understand the trends in your market. So when you are ready to sell, you can take advantage of a good window of opportunity. The good news is, a trained rea...