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Today’s affordability pressures are holding back the most eager would-be home buyers. In a recent study by CoreLogic and RTI Research, young millennial renters under the age of 29 are the most enthusiastic demographic wanting to purchase a home in the next 12 months. However, one-third of millennial renters said they can’t afford the downpayment required to do so.
If the down payment is your potential clients’ biggest hurdle to buying, share some tips with them on how to meet their savings goals. Full Article
The Phoenix Valley homes continues to increase in value due to the low inventory of homes available for sale (Available homes for sale are down 9.6% from last year). This month’s median sales price is 8.3% higher than the same time last year.
Helpful video to prepare you for the unexpected.
With #1, they reference seller’s unpaid water bills. In the City of Maricopa, we have seen seller-side issues with unpaid HOA dues, delinquent property taxes, or other unpaid expenses that the seller is responsible to pay at closing. Escrow is responsible for notifying all parties of any unusual/outstanding liens on the premises.
Excellent Video on how to prepare you for negotiations on your new home.
As we begin the month of September, many of us are looking forward to our cooler evenings and opening the windows (and the end of Monsoon Season!). Here are a few ideas to improve our air quality indoors year-round.
From the Writer:
As we all know, home-ownership is a lot of responsibility. Being a homeowner means that, if anything goes wrong or needs fixing, it’s on you. You no longer have the power to phone a friend, aka your landlord, to come fix something.
That’s why I’m sharing these four tips, so that if you do find yourself heading to an open house this weekend and find the house of your dreams, you’ll have some help on your journey. Full Article
At the time of this posting, there is video from Shark Tanks Kevin O’Leary about renting vs. buying. I’m not in full agreement that you need to be married with kids to buy a home. I think this is unique to each individual’s lifestyle and planning for their future. However, I do agree that a mortgage payment should not exceed 30% of your net income as you never know what unexpected expenses you may have with a new home.
Home prices in the Phoenix area have been rising faster than the rest of the country, according to a new sales report. Full Article