Thursday, January 11, 2018 / by Ellie R.T.
We advised buyers who were on the fence one year ago that if they were planning on buying within the next couple years, they should do it sooner because prices would continue to rise for the foreseeable future.
At the dawn of 2018, we have the same guidance. In fact, it's even more urgent than one year ago. The market is in an interesting predicament as we start the new year. Supply is extremely low, and this typically means one thing for prices: ↑ ↑ ↑
Here are numbers to give you an idea of what the market is doing:
Active listings are down by nearly 14 percent from one year ago (and 9 precent from last month)*
Average sales price per square foot is up 8 percent from last year (while general inflation has stayed the same)
Other factors add to the urgency, including rising interest rates.
So what does this mean for you?
Buyers: If you are in the market, you should probably put the pedal to the metal. Prr ...
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real estate market, buying a home, selling a home, seller's market, housing trends
Thursday, October 19, 2017 / by Ellie R.T.
We like to keep you informed about what is going on in the housing market, and right now, the update is easy: It's still a seller's market. Supply is still low. Home prices are still climbing.
We talked to a client recently who wanted to break into this market, but was a little discouraged with these climbing prices. This had them considering renting instead of buying.
It's important to know, however, that the cost to rent has been climbing right along with these home prices. In fact, here in the Phoenix area, it is 38.5 percent cheaper to own a house than it is to rent, according to Trulia's October Rent vs. Buy report.
If you buy you also benefit from equity buildup, home value appreciation and even some tax benefits.
In this market, if you can afford to rent, you can typically afford to buy. We also work with some great lenders who have fantastic loan products if you don't feel you have enough money saved up for a down pay. ...
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elite results realty, real estate market, selling a home, buying a home, seller's market
Wednesday, July 12, 2017 / by Ellie R.T.
This month, there are two things on our mind: the heat, and this hot real estate market. We are here to help you weather both!
Right now, saving money on energy is all the rage. But we have seen clients sink tons of money into energy-efficient upgrades that don't necessarily pay off in resale value.
That might not matter to you if you are planning on staying in your house for a while. But even it there is a possibility you might sell your home within the next couple of years, it is worth thinking about the numbers.
Check out our list below for the best and worst energy-efficiency upgrades in terms of resale value.
Best energy-efficiency upgrades for resale value:
landscaping with shade trees
upgraded fixtures with fans in all rooms
energy-efficient appliances
We have sold hundreds of homes in the valley, and based on our experience, these upgrades pay off both in energy savings and increased resale value.
Worst energy-effr ...
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elite results realty, real estate market, selling a home, buying a home, seller's market
Monday, June 19, 2017 / by Ellie R.T.
Have you seen the 10-day forecast for the Phoenix Valley? These blazing temperatures might be driving you indoors to hibernate for the summer. But if you want to spend your indoor days in style, then you might consider these hot housing trends:
These are some great updates to make whether you are in your house to stay or whether you are looking to sell.
The video highlights a few of our recent listings. We have a proven record of being able to help our clients get the most out of their listings, in a time period that is way below the market average. This ranges from updates and renovations to staging and HD photography.
Our stats are being helped by the current market, which is still comfortably in the seller’s favor. According to the Cromford Report, supply is down from last year (18,476 versus 20,979), although we are seeing continued signs that the pendulum is beginning to shift ever so slightly back towards the buyer.
Here at Elite Re ...
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elite results realty, real estate market, selling a home, housing trends
Friday, May 19, 2017 / by Ellie R.T.
You keep hearing about this seller's market. But what exactly does that mean?
Watch this video from Rob Hale, our broker here at Elite Results Realty to learn more.
Let's first take a look at Maricopa County's May inventory in the lower price ranges*:
77 listings under $100,000, compared to 9,497 in January 2011
70 listings between $100,000 and $125,000, compared to 3,713 in January 2009
155 listings between $125,000 and $150,000, compared to 3,790 in August 2008
441 listings between $150,000 and $175,000 compared to 3,534 in August 2008
So there continues to be a lot of competition over greatly reduced inventory, which means sellers typically wield the power. That is why buyers need an expert by their side to help them get what want.
We have been able to help our buyer clients gain an edge, even in an environment like this. In a recent example, one of our clients was going to have to submit a contingent offer because they had to sell t ...
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buying a home, elite results realty, real estate market, selling a home, cash purchase, seller's market