Goodyear & Phoenix Real Estate News & Market Trends

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April 28, 2018

Housing Market Conditions

AZValleyWide Home Talk: Video Two of a Five part series on Selling Your Home.

Hi Folks, Michelle Noel with AZ Valleywide's Home Talk Series!

Today's Home Talk Series is a continuation on our topic of selling. In this segment I'm going to discuss the main topic of Market Condition and all the elements that are associated with it.

Those elements of Market conditions include but are not limited to.... economic conditions, timing: as to when is the right time to put your home on the market, next a deeper discussion on interest rates and if there is any impact to the market, and finally is it a buyers or a seller's market?

Market Conditions

Economic Growth with major companies entering into our workforce.

Visit my website for updates and sign up for notifications on my AZ Valleywide Blog.

  • Chandler Based Company CampusLogic lands $55 million investment to continue growth.
  • Freedom Financial in Tempe set to expand its workforce by 1000
  • Cullum Homes to build 33 golf estates at Scottsdale's most exclusive golf community
  • APS partnering with a solar company with expanded growth in the West Valley

Subsequently... these and many other factors are stirring up the pot in both commercial and residential sales!

Also, rents have gone up on the residential side which is another positive indicator.

Timing

Q:  When is the right time to introduce your home to the market?

A:  The short answer is now!

Depending on price point there are time factors involved.

As of April 11 For Maricopa County for single family residence:

(excluding for this example:condo's, manufactured, land sales)

  • The average days on the market for a closed single family home in the last 30 days was 66 days.
  • The number of homes that sold in those 30 days totaled 6,457.
  • The number of homes that went under contract in that time was 4,468.
  • The new active listings in those 30 days totaled 7,917.
  • Total Homes on the Market on April 11, 2018 equals 15,100.
  • The total that are expired, withdrawn and off market - year to date thru April 11 is 6,307.

If you want more specific data for your area - connect with me at azvalleywide.com.

Did you know?  

  • In Maricopa county alone we have 44,000 licensed active agents.
  • Arizona has an impressive total of 57,771 active real estate agents.  

This is why it is so crucial to vet your agent.  So you know who you are partnering with! (I will be covering this topic in greater detail in another video: things you should consider in hiring the right agent for you.)

Interest rates

The federal reserve has been increasing the interest rate, subsequently this is affecting buying power as it does impact the person's debt to income ratios.

  • Just a .25% bump up in the rate for example on a $315k loan amount equals to an increase of $47.00 in the payment.
  • An increase of .5% then it's almost $100.00 increase in payment on a $315k loan.

If you truly are thinking about selling or buying - I highly encourage you connect with a lender. I have vetted strong competitive lenders here in the valley and by extension nationally.  I can connect you with someone who will get you the information you need on financing.

Buyer or Seller Market

This depends on location, where in the valley and price point! Predominantly though I will say it is currently a seller's market! Especially if looking at anything under $400k mark. If it's higher than that there is quite a bit more inventory.

Having the right agent is critical in exposing your home in the right way to the right audience.

Who are the buyers:  

  • entry level home buyers
  • move up buyers
  • high end buyers
  • relocation buyers
  • investment buyers

There are many factors to consider; I am happy to navigate this very exciting real estate market of ours here in Maricopa County with you.  

This concludes this segment of Market Conditions.

Join me in the next video discussing My Home will it Sell and for how much?  

Thank you so much for joining me on this segment of azvalleywide's Home Talk series - if you want to connect with me or want to sign up for informative market updates - connect with me on my website www.azvalleywide.com.

Thank you,

Michelle Noel

azvalleywide's Home Talk

I hope you have an awesome day!

 

April 28, 2018

Overview to Selling Your Home

AZValleyWide Home Talk:  Video One is an Overview of a Five part series on Selling Your Home.

Hi Folks, Michelle Noel with AZ ValleywideHome Talk!

First I want to relay why I am talking to you today! I am super passionate about educating my clients, as well as my prospective clients! And just to put it into perspective for a buyer client; I am here to support them regardless if it takes them 3 weeks or 3 years to be ready to buy their home. And yes for some it has taken that long in advising, coaching and consulting, giving guidance on anything due to timing with the market and or their financial plan:  from working to improve their credit and/or down payment.  The point is I am here to serve, to give guidance, to educate.  I love what I do and I love helping my clients. 

My experience:

  • I've been a realtor since 2004

  • I have been a lender since the late 80's. 

Yes, I still have my mortgage license which by the way is 399229.  I use it not to be a lender but to be relevant in the industry - to be strategic for my buyer clients as well as my selling clients.   

Today's Home Talk Series is on the Topic of Selling. If you are just thinking about selling your home then this set of videos are for you. 

Selling your home:  

Consider these key areas:

  • Market Conditions
  • Timing
  • Interest Rates 
  • Buyers or Seller Market

Will My Home Sell?  How Much Will My Home Sell For?

  • Pricing
  • Reviewing comparable properties
    • Can I gain insight from Zillow that is relevant to selling my home?
  • The Condition of my Home
    • What do I need to do to get my home ready to put on the market?

What is the plan for after my home sells?

  • Where to?
  • The how much will it cost?
  • The timeline
  • How to put it all together

Do I really even need an agent for the Job?

  • Pricing
  • negotiating
  • logistics

If I get an agent, who is the right one? 

  • Expert in the market place
  • Strategist
  • Negotiator
  • Exposing the right way
  • Passive Marketing or Aggressive Marketing what do you want

This concludes the overview of the Selling Your Home Segment.  Additional Videos to follow. Thank you for tuning into AZ Valleywide's HomeTalk!

Connect with me on my website www.azvalleywide.com.

Thank you,

Michelle Noel 

azvalleywide's Home Talk

July 31, 2017

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Posted in Market Updates