What’s Going on in the Real Estate Market?

Realtor.com has predicted the Phoenix metro area will be the healthiest and hottest market in 2017!

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According to Realtor.com, in 2017, the Phoenix metro area will be the healthiest and hottest market in the country!

What factors put our market above the rest? For starters, we’ve had a nice steady stream of sales. We also have a tighter inventory, tighter new home sales supplies, and a steady increase in prices. Additionally, our foreclosure rates have dropped to record lows, which is something the Phoenix market has needed for a long time to get back on track.

Many of the homes here in Phoenix are owned by out of state investors, and we do expect to see some of those come on the market in 2017. However, there are a few things you should know if you are a Phoenix resident and want to sell your home.

It’s going to be a great market to jump into.

It’s very important to make sure your home is in tip-top shape. Although we don’t have that much inventory, I’ve found that buyers don’t really have a sense of urgency. They are okay with where they’re at, but of course would move if they found a home that more closely fit their needs. However, they are not afraid to wait out the market to find that perfect home. So, if you are looking to sell, make sure your home is market ready.

Interest rates are still historically low as well, so whether you are looking to buy or sell a home, it’s going to be a great market to jump into.

If you are looking to buy or sell your home, or if you have any questions about our market, feel free to give us a call or send us an email. We would be happy to help!

3 Easy Maintenance Tips for Your Phoenix Home

There are three common home maintenance issues that you should look out for this fall, but lucky for us, Mike is here to tell us how to fix them.

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I’m joined today by Mike from Alliance Contracting, LLC who is here to discuss a few key home maintenance tips. Mike does a lot of work for my team as well many of our homeowners, handling everything from small handyman tasks to major remodels. Today, he’s going to share the three most common home maintenance issues he’s run into so that homeowners know which ones they should be aware of.

1. Make sure your garbage disposal is working properly. A broken garbage disposal can put quite a damper on your holiday activities this season, especially when hosting guests. For this reason, it’s important to take a close look at the garbage disposal, make sure there are no cracks in the housing underneath the sink and check to make sure that it’s not leaking, since leaks can lead to even more problems. Keeping blades clean and free of gunk is crucial as well. Remember that when using the garbage disposal, it’s best to always have the water running and to only add items into it in small increments.
2. Check your smoke detectors, air filters, and HVAC systems. Obviously, we all know to change the batteries in our smoke detectors, but one thing to remember, especially when lighting candles or cooking, is that the sensors in your smoke detectors only have a life of about 10 years. This means that if your home was built 25 years ago, it may be worth thinking about changing out your smoke detector.
3. Add another coat of paint to your home’s exterior. This will help extend the life of your woodwork and trim on the outside of your house. Sun damage and dry rot are problems in the Arizona climate because we are exposed to a lot of UV light, and an extra coat of paint will help protect it from that. The weather right now is perfect for getting outside and painting too!

Remember, a smoke detector’s sensor only lasts about 10 years.

If you have any other home maintenance questions for Mike, give him a call at (602) 359-6300. In the meantime, if you have any other questions related to Phoenix real estate, give me a call or send me an email anytime. I’d be happy to help you!

How We Stayed Supportive and Helped Shawn Quickly Purchase a New Home

“Everything was wonderful. Everything worked smoothly. It couldn’t have gone faster and she just did an amazing job. I would recommend her to anyone. She was always polite and always supportive. She was just wonderful.”

What Are Your Mortgage Options?

There is a loan program for everyone these days. Whether you are a first-time buyer, investment buyer, or in need of down payment assistance, there is something for you.

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There are many more options than most people think when it comes to home loans, so I wanted to give you a quick overview of all the loan options that are available right now if you’ve been thinking about buying a home. When the market crashed in 2007, a lot of loans disappeared. They are coming back now since the market has recovered and there are a lot more options available to you than there used to be.

The number one option in terms of volume is the conventional loan. Conventional loans are backed by the U.S. government through Fannie Mae and Freddie Mac and have many different options.

There are conventional loans of all different sizes and with many down payment options. There are loans with a 0% down payment, loans with 3% down, loans with 5% down, and loans that go all the way up to 20% down. Remember that if you do put 20% down on your purchase, you will not have to pay for mortgage insurance. The limit for conventional loans goes up to $417,000.

The first step is getting pre-approved.

FHA loans are the next most popular option. With an FHA loan, you only have to pay 3.5% down. These loans have a lot of flexibility for buyers, especially if you’ve had a distressed sale (short sale or foreclosure) in the past.

There are also quite a few down payment assistance programs out there. A lot of these grants can be applied to down payments and closing costs. We’ve helped many people get into homes who would not have been able to without these programs. In most cases, they have enough to make their monthly payments but fall short when it comes to closing costs and a down payment. There are specific income and credit score requirements for these programs, however.

Finally, you have the option of getting a jumbo loan. These loans are above $417,000 and are most often used in the luxury market. These programs are tailored to the people who need them, like doctors or other high-level professionals.

With so many different loan options, there is so much flexibility for home buyers. However, the first step is to get pre-approved so you’ll know what you can afford. We would love to connect you with a lender to get the process started.

If you have any questions for me about mortgage loans or anything else related to real estate, give me a call or send me an email. I would love to hear from you.

Don't Get Spooked by These Real Estate Errors

Halloween is just around the corner, so today, I wanted to talk about the spookiest things that home buyers and sellers do in the real estate market.

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Let me be the first to wish you a happy Halloween! In honor of this holiday, I wanted to talk about the scariest things that home buyers and sellers do.

The first scary thing we see from buyers is when they neglect to get pre-approved for a home loan before they start looking at homes. If you don't get pre-approved, you're walking into homes that might not fit your pricing criteria, and you're simply wasting your time.

The second scary thing is when buyers are willing to give their information to anybody and everybody to contact us. Most buyers don't realize that when this information gets out on Zillow, for example, it's being sold to other agents. This is especially scary because you're basically being 'sold' to an agent who wasn't recommended to you.

When it comes to home sellers, one really scary thing they do is avoid preparing their home for the market. The condition of your home and the staging of your home are going to be the two biggest factors in preparing it for the market.

The market is scary enough–don't make it scarier for yourself!

The second super scary thing we see sellers do is having the agent who the home be the same agent who lists it. The second super scary thing we see sellers do is list their home with the same agent who originally sold it to them. Listing agents are, of course, much more skilled in selling a home versus somebody who helps you buy a home.

The third and final thing scary thing that home sellers do is pick the wrong agent. When choosing an agent to help you sell, you should ask them about their sales volume, and really understand how important that is. The more an agent sells, the more knowledgeable they are in the market.

Thanks for stopping by for the Halloween special; I hope you can avoid making these scary mistakes when the time comes to buy or sell a home. If you have any questions for us about the Phoenix real estate market or you're thinking about buying or selling a home, give us a call or send us an email. We'd love to help you out!

How We Went Beyond Helping Julie Sell a Home

“She went above and beyond to protect my interest each time. She even went as far as the requirements of backfilling a pool. She kept me constantly apprised of not only what was happening, but what she suspected would happen and what she suspected was motivating the buyers each time.”

How to Select a Property Management Company

The subject of dealing with property management companies has been of great interest to many of my clients lately.

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If you’re interviewing a property management company, there are five important things that you need to remember:

1. You must understand your contract and any fees involved with it.
2. Expect great communication between you and your property manager. 
3. Any Homeowners Association (HOA) issues should be reported to both you and the tenant.
4. Expect all repairs to be disclosed to you.
5. You must have the final say in your tenant selection.

It’s also important to be wary and make sure that the property management company doesn’t surreptitiously insert a sales clause into the agreement. This clause would give them the first right of refusal to be able to sell your home, even though they’re probably not the most qualified people to do so. Make sure that you have the option of choosing the agent that you want to sell your house. 

Understand your contract and any fees involved with it.

If you have any questions or concerns, please feel free to contact myself or any member of my team by phone or email. We would be happy to help you!

Be Prepared for the Phoenix Real Estate Market Shift

If you’re involved in buying or selling property in Phoenix, you’re going to want to be prepared for the market shift ahead.

A market shift is much different than a market crash; we won’t be experiencing anything in the market like we did in Phoenix during 2005 to 2009. A market shift means that we can expect longer days on market and tougher sales for home sellers. If you’re thinking of selling your home, you’ll have to employ some new strategies for the times ahead.

If you’re thinking of buying a house, it’s important to note that we are expecting interest rates to rise in the near future. So far, it looks like the market is looking healthy, which means that the Federal Reserve will probably increase those rates soon. Higher interest rates mean higher mortgage payments, so don’t wait for those rates to rise.

If you’re really intent on buying or selling real estate, make your move now. The market tends to soften as soon as kids go back to school in the fall, and will only continue to soften into the winter months.

Don’t wait for the market to shift — make your move now!

Though buyers may have a bit more of an advantage during this time, we in Phoenix will not be hit as hard as other markets due to our healthy employment numbers and generally balanced real estate market. Sellers in certain price points, however, may find it more difficult to sell as this shift approaches.

If you’d like any more advice on preparing for the Phoenix real estate market shift, please give us a call or send us an email for a free consultation. We’d be happy to help you!

Market Report for Phoenix at the 2016 Midway Point

With the first half of the year in the books, it's time for our midyear 2016 Phoenix real estate market report.

Our average days on market has gone down by 10 days to 75. That average is a bit longer than we'd like but it’s heading in the right direction, which is great news. This is our busy time of year, so this is pretty normal. In the third quarter, it may be different as the market slows. It truly depends on the area.

The market right now is generally excellent for both buyers and sellers. There are areas in the Valley that are more of a seller's market, where homes that are maintained, staged well, and priced properly fly off the market with multiple offers. Many people aren't as fortunate with homes that aren't prepared for the market or priced well, and they're the ones experiencing excessive days on market. There are plenty of buyers out there, so you shouldn't have this problem. Sellers who present their homes in the best condition possible will sell them fast.

Any receipt or invoice should be kept.

Additionally, pricing has been a major factor for the last few years. In some neighborhoods, pricing just $10,000 too high will keep you from getting showings, no matter how beautiful the house is. This has remained true until today. If you're looking to buy or sell, pricing your home properly is crucial, and that's why you need an experienced, qualified professional to help you find that price point.

Finally, I want to wrap up with a reminder that for sellers, inventory is still low, which creates more demand for your home. For buyers, interest rates are phenomenally low. If you have any questions, please don’t hesitate to reach out to me. I look forward to hearing from you!

Keeping Good Records Is Key to a Smooth Home Sale

In the past few years, I’ve noticed more and more homeowners not being able to locate documentation from a major repair they did on their home. This has turned into a major problem that's caused a lot of sales to fall through.

When you make repairs or improvements to the home you are living in, even if it’s just a coat of paint, it’s important to document it. Any receipt or invoice should be kept so you are able to have it handy when curious buyers arrive.

Any receipt or invoice should be kept.

The more things you document, the more items you’ll be able to list in your seller’s disclosure. The bigger your seller’s disclosure is, the more comfortable the buyer will feel about purchasing your home going forward. For any electronic receipts, you should document those in a cloud-based system, where they won’t be lost. Doing this is critical to making sure your home is marketed and sold effectively.

I hope these tips will be able to help you out in the future. If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

Why You Need a Realtor When Buying a New Phoenix Home

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Buying a new home is a fun and exciting process. You can customize every inch of your home and pick out every single detail. While there are many benefits to buying a newly-constructed home, there are some things that you need to be aware of.

For instance, you will need a Realtor to assist you. You cannot just walk up to the model homes and step inside. Most of the time there will be a sign saying that you need the assistance of a Realtor to buy a home.

It’s actually always in your best interest to hire a buyer’s agent because the sales agent inside the builder’s office is representing the builder, not you. That means that they do not have your best interest in mind. When you hire a buyer’s agent, that person will fight to get you the best possible deal. It’s not a burden for us to accompany you during showings.

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Would you go to court without an attorney?

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Your buyer’s agent will likely have a relationship already formed with the builder, making it even easier to negotiate and secure a better deal for you. On top of this, I have a background in construction so I can tell you what to expect throughout the process.

It’s important that you never walk into a real estate transaction without representation. It’s like going to court without an attorney or fighting the IRS without a CPA. It’s just not a wise idea.

Lastly, I like to hire a home inspector for my clients eight to nine months after they have moved into their newly-built home just to ensure that everything is up to snuff. Even though the home is brand new, you’d be surprised at how many problems can occur. We also recommend inspecting new homes before you purchase them. There will very likely be one or two things wrong despite how new the home is.

If you have any questions or concerns about purchasing a new home in Phoenix, please don’t hesitate to contact me.

I look forward to hearing from you!

Knowing the Ins and Outs of Your Home Warranty

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I get a lot of questions regarding home warranties and home warranty companies. What you need to know, first and foremost, is that when your home warranty has been given to you by the seller, we as the buying side get to pick who we want to work with. I normally pick a specific company with a good track record so we can get you the best coverage possible.

After a year goes by and you’re coming back for renewal, there are two key things you need to remember. The first is that you will receive what we call the “brochure rates.” These rates are provided by the companies that we get solicited by to be able to use their home warranties. The brochure rates are going to be the best rates these companies have, and typically when you renew they will give you a higher rate.

The second is to examine at this point whether or not you have the coverage you really need. If you want to add some additional coverages, you can certainly do it. It’s also important to note that when you finish buying a home, you are given a window of 30 to 90 days to add these additional coverages at a cheaper expense.

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Read the brochures so you can get the best possible home warranty.

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So, make sure you read the brochures. All the information you need to accomplish these things is going to be in them. Also, don’t forget to look on the dates of the brochures, because they change all the time. If you have any questions, call them up or call me up and I’ll talk with my account rep about what things are changing in the industry. There are constant fluctuations within the EPA, therefore the home warranty companies have to make changes due to their own rules and restrictions. Not checking this regularly has led clients of mine to experience things like appliance malfunction and inadequate coverage.

If you have a home that’s 10 to 15 years older, you need to keep a warranty on it because your homeowners insurance will not pay for things like a furnace going out. Insurance companies consider that a maintenance issue and expect home warranties to cover it.

Our doors and our phones are always open to answer any questions you may have regarding home warranties. If you’re looking to buy or sell, please go ahead and call or email me for a free consultation.

Phoenix Buyers and Sellers Shouldn’t Trust Zestimates

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A lot of clients come to us and tell us what Zillow’s Zestimate offered as a value on a home, saying this and that. What most people don’t know is that Zillow is only accurate about 7% of the time.

If I was only accurate 7% of the time, I wouldn’t be in business! The CEO of Zillow recently sold him home, and his home’s Zestimate was off by 40%!

It’s important to understand how Zillow pulls its information. It’s an algorithm that Zillow came up with, and is derived from tax records from the government. These figures are very inaccurate. Zillow will also clump homes together with similar subdivisions, but oftentimes the values are very different even in these small neighborhoods. Zillow clumps your home and its updated kitchen and bathrooms in with a “similar” home down the street that is really bare bones basic.

“

The CEO of Zillow recently sold him home, and his home’s Zestimate was off by 40%!

”

Then, an average is based off of that, so both numbers are going to be off. In Phoenix alone, they are off 20%, and that’s huge. The big thing to remember is that Zillow can’t come into your home and see changes like granite countertops or an added bedroom.

If you’re interested in finding the true market value of your home, please feel to reach out to us. We’d love to help!

Don’t List in Phoenix Without Staging

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Staging is the presentation that you put together before your home goes on the market. Have you ever looked at photos of a home and wondered what they were thinking putting their home on the market with photos that show dirty dishes, kids, and dogs? Unfortunately we see way too many of these on the market, and they don’t sell because they’re trying to sell a big mess instead of a beautiful home.

Our stager provides a two to three hour consultation to work with the items you already have, and will recommend how to best show off the house’s features. If there are a few more decor items you need, we make sure they’re purchased.

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I tell clients that you never showcase your home the way you live in it.

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I always tell people that if they were selling their car, would you sell it how it looks now, or would you put a little bit of work into making sure it was vacuumed and washed inside and out? It’s no different for your home. People want to get the maximum amount of money for their home, but they don’t really know what it’s like to prep it. I tell clients that you never showcase your home the way you live it. You want to change those habits for a short period of time.

If you have any questions about staging in Phoenix or need some more tips, we’d be happy to provide more expertise. Just reach out to us today!

Four Tips for Springtime Homeowners in Phoenix

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Spring into gear with home maintenance! I know, these smaller improvements are one of those necessary evils to maintain your home’s value. Because it’s the springtime, it’s important to address updates and repairs as the hottest season of the year comes along. 

Here is what you should focus on within the next month:

1. What condition is your roof in? Every year, you should hire a roofer to inspect for shifted or broken tiles. If you’re unaware of these issues, water can easily drip into your home. Don’t be caught off-guard during monsoon season!
2. When was the last time you checked your air conditioning and heating units? If you haven’t turned on your AC, you likely will soon. We have to make sure these HVAC units are prepared for the summer heat. AC unit companies are already getting flooded, and you certainly don’t want an emergency to occur when they’re swamped. Additionally, don’t forget to change your AC filter every 30 days!
3. How often do you check your pool? This should be serviced and inspected by a professional. Have your pool ready to go, because contractors are already overwhelmed with other people preparing their pools.
4. Pay attention to the exterior of your home. This includes painting the house or maybe replacing the gate wood. Make these changes now while the weather is gorgeous, so you’re not stuck outside in the heat later this season.

If you’re thinking about buying or selling in the surrounding area, I’d be happy to answer your questions! Give me a call or send me an email at your earliest convenience.

Should You Add Solar Panels to Your Phoenix Home?

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Many people think solar will help reduce their electric bill. They might have a large monthly payment already. However, that’s not always the case. Most people don’t realize that your personal behavior and lifestyle heavily contributes to your electric bill. It’s not necessarily because a home is older or isn’t energy efficient.

Bring in an energy auditor, because an electricity bill ultimately depends on your lifestyle. Solar panels can be expensive, and you don’t want to end up paying more for what you already have. I recommend months of critical research because there are tons of different solar panel companies out there, both good and bad.

Another option is to sign a lease on a solar panel. Many solar companies are doing this. However, be aware this can cause an issue later on when you try to sell your home. For instance, appraisers don’t add value to the addition, because it’s still a lease. Additionally, the price of the home could go down to compensate for the lease payments the future homeowner will have to face.

Solar is great for the Earth, but make sure it works with your pocketbook. Don’t sign up for something for 25 years if you’re thinking about moving within that time period! I’d be happy to talk this over with you if you’re considering implementing solar energy into your property.
 

If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to answer any of your real estate questions!

What Happened This Past Quarter in Phoenix Real Estate?

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Today, I’m discussing an update for the first quarter in the Phoenix housing market.

We experienced a successful start to 2016, which we expected. We had more sales, despite the lack of inventory available. The number of listings slowly climbs. The average days on the market rests around 85 days right now. This data is specifically relevant to single family homes.

With that, my average for days on the market is currently between 20 and 30 days! We have a special plan to prepare properties for the market to achieve this.

As we approach the second quarter, we enter the busiest season of the year in real estate. We have a lot of families looking to relocate, moving in and out of Phoenix, and wanting to change school districts. We expect this season to be extremely active. This means there are a lot of buyers out there looking for their dream home.

If you’d like to sell, be proactive and bring in a professional. Prepare your entire property before going ahead and listing. At Rother Real Estate Group, we do everything we can to help sellers prepare for the market.

Other than that, we will continue to have a strong market. It’s time to act. If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to answer your questions about this topic or more!

Five Misconceptions About Homeowner’s Insurance

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Today, we have Bill Quigley from State Farm Insurance. Together, we’re discussing what homeowner’s insurance policies don’t cover, that many homeowners think they do. There’s a lot of misconceptions out there, so we want to clear them up for you with correct information.

1. Leakage and seepage: This is one of three major water damages that commonly come up. For instance, if a pipe has been leaking for a long period of time, you might not realize it until you’re remodeling your shower. By this point, there could already be a great deal of mold, rot, and mildew. It’s common for companies not to cover this type of damage.
2. Floods: Companies typically don’t cover rising water that comes inside your home. This requires a special kind of company that offers this service.
3. Water heater and pipes: Plumbing rupture puts water throughout your whole home. These water fixtures are not covered, but most companies will cover any damages caused by it, minus the deductible.
4. The roof: If a powerful windstorm blows parts of the roof away, some companies will pay you a portion based on the age of the roof. Others might cover the whole damage by adding on a new roof to your home. It’s not necessarily guaranteed with every company.
5. Personal belongings: This accounts for jewelry, firearms, and other valuable items. Check with your policy to see what limitations are on high-ticket items you own.

Let this video be a reminder that you should call your insurance agent to review your policy. You need to know what your plan does and doesn’t cover, in case an emergency ever happens and you’re not clueless!

What Does It Mean to be a Contingent Buyer in Phoenix?

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Many people ask me, “Should I buy before I sell, or sell before I buy? How do contingencies work?” Contingencies allow a buyer to back out of a contract. For example, many people who buy before selling have to sign a contingency promising they will sell their property within a certain amount of time.

I recently sat down with this family and discussed this same thing. They were looking at very specific neighborhoods because they wanted a certain school. The way our current market is, 40% to 50% of the time you have to sell your home before you can buy.

In this particular case, we recommended they sell their home and then rent for a while, which would eliminate the contingency issue. That worked best because her search was so specific.

In most cases, a home search isn’t that specific. With great strategy and planning, you can absolutely sell your home and buy something with a contingency in place. I’ll make sure you have a strong buyer for your property so that you can close on the home of your choice. 

There’s always a strategy behind buying a home first or selling first. It really just depends on what you’re looking for in the surrounding Phoenix area. If you have any questions about this topic or more, give me a call or send me an email. I would be happy to help you!

How Can You Help Our Phoenix Community?

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Today, we’re going to discuss a charity that is near and dear to my heart, the Care Fund. I have been personally touched by this charity. The Care Fund helps Arizona families pay their mortgage or rent when their child has been hospitalized for an extended period of time or has a serious illness.

People don’t realize that when a child goes to a children’s hospital, the parents have to stay with them. In many cases, there’s almost no way for these parents to continue working, and a lot of them end up losing their job. If you need assistance with your mortgage because your child is ill, go to the Care Fund’s website to find out if you qualify. 

The Care Fund is a great charity. They have very low administrative costs, so 90% of funding goes right back to Arizona families in need. If you know anyone in your community who could be helped by the Care Fund, I want to hear from you. Help me support this charity by giving me your referrals. I love helping Arizona families, and my family knows what this is like.

If there is anything we can do to help support each other, I would be very blessed to receive your help. If you have any questions, just give me a call or send me an email. I would be happy to help you!

Problems With Contract Homes in Phoenix

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What happens when you discover problems with your new home under contract? First, we’ll demand the disclosure statement from the seller as soon as possible. This will help an inspector find any major problems, so they know what to pay attention to during the inspection period.

As someone working for your best interests, I also will read the disclosure statement and demand anything you need. I won’t let the seller off the hook.

Think of your inspector as the family doctor for your new property. An inspector may advise bringing in other specialists, such as plumbers, electricians, etc. We work with them closely. In Phoenix, we have ten days to complete an inspection and we make sure to use the time wisely.

If you’re thinking of buying or selling a home in Phoenix, give us a call or send us an email today! We’ll set up a free consultation at your earliest convenience.

3 Mistakes to Avoid With Construction Purchases in Phoenix

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We pride ourselves on new construction properties. I’m an expert on this type of real estate, too. When people purchase new construction property, I see a handful of common mistakes that we can help you avoid.

Buyers don’t bring their real estate agent to the new home sites. You need someone to represent your best interests, as if you brought an attorney with you to court. You need someone that’s worked with builders before. Plus, builders compensate agents, so you don’t have to pay anything.

Buyers don’t conduct research. Not every builder is the same. I see mistakes done in construction properties that buyers might not be aware of, such as missing windows and closets. This can be avoided easily if you have a professional with you. You want to make sure you’re getting the best quality before investing in a home.

People don’t read the fine print. The fine print is important, because you need to know the contract meets your needs. Builders should have your best interest in mind. Did you know they can have up to two years to build your home? Avoid any delays by hiring a Realtor.

Those are only a few things to look out for when purchasing a new construction property. If you have any questions about buying or selling a home, I’m happy to answer any questions you have! Contact me for a free consultation today.

Is Phoenix a Buyer’s or Seller’s Market?

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Today we’re going to discuss the real estate market here in Phoenix. One question we get a lot is: “Are we in a buyer’s market or a seller’s market?”

Well, it depends on where you’re located. To be truthful, it’s a little bit of both. However, in most areas we are in a bit of a seller’s market because our inventory is so low. However, homes that are overpriced are just sitting on the market and not selling. The housing inventory in Phoenix has started to decline, but we are anticipating we will get some more selection in the near future as more sellers enter the market.

One more important thing to note is that interest rates recently went up. The Fed decided to slightly increase rates this December, which is something that we’ve been expecting for a while. This slight increase shouldn’t stop you from buying a home because interest rates are still extremely low compared to historical averages. 

So, what does all this mean for buyers and sellers? It’s time to get off the fence! If you’re selling, you need to price your home correctly in the market if you want to sell quickly. For buyers, now is the time to make your move because interest rates are only going to go up more in the future. 

If you have any questions, or are thinking about buying or selling in Phoenix, give us a call or send us an email. We look forward to hearing from you!