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Today I’m alongside Tom Ross with Bay Equity Home Loans and, together, we’re here to discuss our current interest rate environment. 

By the end of this May, we saw a notable development with regard to interest rates: The combination of tariffs and various other economic conditions are driving rates down, and this downward trend doesn’t look like it’s going to slow or move in the other direction anytime soon.

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The combination of tariffs and various other economic conditions are driving rates down.

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Although market indicators tell us that rates will continue their current trajectory for the next year or so, it’s worth pointing out that, last year, we were confident that rates would continue to rise well into the high-5’s. It wasn't until the Fed announced a change of course in their policy decisions early this year that we knew we could see rates flatten out or begin to fall. 

All things considered, conditions are very favorable at this moment, and it’s a great time to get into the market.  

Whether you’re considering buying or refinancing, go ahead and give Tom a call at 602-791-5861. We’d love to help you as a team! And if you have any other questions regarding your real estate needs, please reach out to me as well. We hope to hear from you soon!

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

Are you waiting for the market to soften to buy a home?

A lot of buyers have this plan because they’re afraid that what happened during the last economic downturn will happen again soon. However, according to my guest today, Tom Ross of Bay Equity Home Loans, the last economic downturn was a once-in-a-century event, and the current market features a totally different set of circumstances. 

If you plan on staying in your home for at least three years, there are plenty of underlying reasons why now is a great time to buy.

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The last economic downturn was a once-in-a-century event, and the current market features a totally different set of circumstances.

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According to the statistics, Phoenix is the fastest-growing city in the U.S. Not only are we ranked in the top 10% of all cities in terms of job growth, but we’re also in the top 20% in terms of historical appreciation. 

We have about 70,000 households being formed annually, but only 25,000 homes being built. To be exact, we have less than three months of inventory, and we don’t see supply catching up to demand in the foreseeable future. Furthermore, appreciation is also expected to continue to rise. 

If you look at the big picture, it’s a great time to buy or sell, so if you plan on doing either anytime soon, don’t hesitate to reach out to me. I’d love to help you.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

When is the largest number of homes sold? In springtime, of course! And since it’s now officially spring, it’s the perfect season to jump into our thriving real estate market. 

We see the most sales from April to June, so now’s the time to prepare for listing your home. If you or someone you know is thinking of selling soon, I’m here to help—I’d be more than happy to give you a home estimate and help you find the perfect buyer. 

Give me a call at 602-413-8195 or send an email to [email protected], and let’s begin the home selling journey together. I look forward to hearing from you soon!

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

Our market is simply full of surprises lately! 

First of all, though we’re still in a seller’s market, we’re currently experiencing the largest inventory of homes we’ve seen in a long time. Our number of months of inventory—or how long it takes to sell all homes currently on the market—is at 3.06.

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Our market could be balancing out.

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On top of this, in the last 30 days, we’ve had the lowest number of homes sold. Together, these factors mean that our market could be balancing out. It also means that it’s now easier for people to sell their homes and purchase new ones. 

As each area has its own unique market, so if you want to find out more about your specific neighborhood, your best bet is to give us a call. We look forward to hearing from you soon.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

I’m here today with my preferred lender, Tom Ross of Bay Equity, and we’ve been talking about how we can give back to our community, particularly to the people who have and still serve us in the community.

I’m so excited because we finally have a program designed to do just that: Giving to Heroes. Who qualifies as a hero? In this context, a hero could be any person who dedicates their lives to serving us in the community—such as a teacher, a nurse, a firefighter, a police officer, an active duty military serviceperson, a veteran, or, slightly controversially, an employee of the government sector.

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We’re so excited to be able to contribute and give back.

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With this program, we’re able to contribute toward these heroes' closing costs as our little way of thanking them for spending their lives serving us. We’re so excited to be able to contribute and give back.

If you have any lending questions for Tom, he can be reached at (602) 791-5861 or at [email protected][email protected].

If you’re curious about purchasing a property and you’re a hero, please feel free to reach out to us. We would love to serve you back.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

I’m here today with my preferred lender, Tom Ross from Bay Equity, to discuss a question about interest rates: “What should you do about interest rates, knowing that they’re on the rise?”

People have it in their head that if they just wait long enough, they’ll end up with a lower rate eventually. But rates in the 3% area are long gone; at our highest this year, we’ve brushed 5% and came back down into the high fours. This time next year, the 4% rates will be long gone as well.

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Try not to turn down any showings, if possible.

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Those in the market need to wrap their heads around the fact that this climb in rates we’re going into will be long-term and sustained. We’re in the midst of a sort of trade war with China, and inflation tends to raise interest rates as well. In fact, the Federal Reserve has gone on record to say that they’re going to raise the federal funds rate at least four times between now and the end of next year. Two of those jumps might occur even before the end of this year.

Now the federal funds rate doesn’t directly impact mortgage rates, but as it rises, you tend to see interest rates come up.

If you have any questions for Tom about rising interest rates, you can reach him at Bay Equity by calling (602) 791-5861 or by sending an email to [email protected]. 

For any questions about real estate in general, we always encourage you to reach out to us here at RE/MAX Excalibur. We’d love to answer your questions.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

When selling a vacant home, following certain safety tips will be essential. Today, we’ll be sharing seven such tips: 

1. Set up a security system.

2. Install motion sensors and timed lighting. 

3. Ask a friend or neighbor to keep a car parked in your driveway. 

4. Have someone routinely pick up your mail.

5. Maintain your landscaping.

6. Keep blinds and curtains closed.

7. Check on the property after storms. 

Following these tips will help keep you and your asset protected during the listing process. 

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

Are you in the process of getting your house ready to put on the market? If so, here are a few tips to help you:

1. Don’t overprice your home. Pricing is everything when marketing your home for sale. Even a well-priced home with a bad marketing plan will sell, but an overpriced home won’t.

2. Failing to make repairs. If the dog chewed something up or there are other minor damages that a buyer would spot immediately, get those fixed before you get the property listed and start taking pictures.

3. Neglecting to declutter your home. If you have a lot of personal items, boxes, or general clutter, that’s one of the first things a buyer will notice. As part of our services, we bring a professional stager out to our buyers’ properties to help declutter and stage the property.

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Try not to turn down any showings, if possible.

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4. Don’t turn down showings. To get your home sold quickly and for top dollar, it should be about when it’s most convenient for an agent to show your property, not the other way around.

5. Getting overly emotional about your home. Think of your home as a property or an asset than as your home. This shift in mindset will help you maximize the sale price.

If you have any questions for me or want to know why my performance outsells all those promises out there, give me a call or send me an email today. I look forward to hearing from you.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

How do we agents earn our commission? There are six important ways: 

1. We identify and solve problems quickly by providing solutions to our clients.

2. We pre-qualify buyers. If I am your listing agent, it is my job to ask buyers the right questions so you can go under contract with one who is fully qualified and can close within the escrow period. 

3. We manage expectations. I need to manage expectations for my clients so they know what the process is like and we can work together to execute it properly.

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My ultimate goal is to get them the most amount of money in the least amount of time.

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4. We have communication skills. We have to communicate with both our clients and the public at large. We get paid to tell the truth, which is difficult sometimes because of market conditions we have no control over. Part of these communication skills also involves forecasting what’s to come in our market in the near future. 

5. We can find buyers for our seller clients. One of my favorite things to do in my job is prospect for buyers.

6. We can effectively and efficiently guide buyers and sellers through the whole home sale process. I have a full-service team working with me, and our whole goal is to prevent clients from waiting on me. Rather, my team should be waiting on them. 

If you would like to know more about how I am able to accomplish this goal or you have any other real estate questions, please feel free to reach out to me. I would love to help you.

 

Buying a Phoenix Home? Search all Homes for Sale

Selling a Phoenix Home? Check out our FREE Home Value Report

Today we are going to talk about the three most important questions that you should be asking your listing agent:

1. What is my home worth? A good listing agent should be able to tell you what you should list the home for and what it will sell for within a couple of percentage points.

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The agent should have a specific marketing plan that will attract the most possible buyers.

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2. How long will it take to sell my home? They should also be able to show you the average time on market for your area and what their own average is based on past sales.

3. What will you do do get the property sold? There should be a specific marketing plan that will attract the most possible buyers and get your home sold quickly.

I would be happy to go over my answers to these questions with you. If you would like to know them or if you have any other questions about the market, please feel free to give me a call or send me an email today. I would love to hear from you soon.