8 Red Flags to Help You Spot a Rental Scam
Imagine signing a lease for a new apartment, only to find out when you show up to move in that the place you selected, signed and paid for was a lie. Not only do you not have a place to live, but you're out hundreds, if not thousands, of dollars.
This might sound like an urban legend, but unfortunately it happens all too often. Just ask Kaeti Bancroft, owner of Metro Brokers in Littleton, Colorado. Upon arriving at a vacant rental property she owns to show it to a potential tenant, she found a woman storing things in the backyard shed. The stranger reported her granddaughter had just rented the place and was ready to move in after sending $500 for the first month's rent.
Read Article - realestate.usnews.com
Spring Buying Season
“Mortgage rates … [are] continuing the general downward trend that began late last year,” Khater says. “Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.” The National Association of REALTORS® reported this week that more houses were on the market in January, rising to 1.59 million nationwide and at a 3.9-month supply at the current sales pace.
Read Article - magazine.realtor
10 Easy Ways to Prepare Your Home for Appraisal
So you’ve decided to put your home up for sale or refinance your mortgage. You’re ready to move onto better things and save money, and you want to fetch the best possible price for your home. After all, you have been living in it, and have enjoyed the charming features of it first-hand. You know how great it is. But does everyone else?
Read Article - nlcloans.com
Phoenix Housing Forecast for 2019: A More Modest Year Ahead?
Recent forecasts for the Phoenix, Arizona real estate market suggest that home prices could continue rising through 2019. The local housing market does appear to be cooling a bit, though, with smaller price gains expected this year. The city recently made a top-ten list of best markets for buyers. The median home value in Phoenix was up to around $240,000 as of January 2019. That was an increase of 8.7% compared to a year earlier, according to Zillow.
Read Article - homebuyinginstitute.com
2019’s Best Cities for Jobs
With 2018 behind us, it’s time to think about fresh starts, whether that means small changes or a complete life overhaul. For many people, finding a new or better job will be a top resolution, and 3 Arizona cities make the top 15 with Scottsdale being number 1.
If that’s your mission for the new year, it’s a good time to be on the job market. According to the U.S. Bureau of Labor Statistics’ most recent jobs report, the national unemployment rate has fallen to an eighteen-year low of 3.7 percent while hiring is up.
Read Article - wallethub.com
Single women, Millennials buying more homes
Millennials are making one-fourth of the home purchases across the United States and single women are outpacing single men as homeowners. Data analysis by the online loan broker Lending Tree found that single women are more likely to own a home than single men despite generally making less money.
A recent Prudential survey showed that the average annual income for women was $52,521 compared with $84,006 for men, a difference of 37 percent, meaning women in the survey are earning about 63 cents for every dollar earned by men.
Read Article - bizjournals.com
Six Easy Ways To Prepare Your Home For Holiday Guests
It'll be here before you know it: holiday season. If those two words just sent a chill up your spine, it's probably time you started getting prepared. The good news is that while may think your house needs a bulldozer, or at least a few teams of HGTV stagers to make it guest-ready, it will probably be easier than expected to get it in good shape. Here are a few things you can do this weekend to get started.
Read Article - realtytimes.com
7 Tips for Selling Your Home and Moving with Pets
For many people, pets are an integral part of the family and a major consideration in important life changes. However, when selling your home and moving to a new one, they can add to the chaos. Proper planning—both when your house is on the market and during your move—is the key to minimizing stress and creating a seamless transition for all family members, including furry friends.
No matter how much you love your pets, prospective buyers may be averse to their odors, hair, or presence while they are trying to view your home. Here are a few tips for reducing the impact that pets may have on your sale:
Read Article - maxrealestateexposure
Phoenix-area home prices surpass 2006 peak to set record
We’re finally there. Metro Phoenix home prices are back to the record hit in 2006. Actually, the Valley's median home price soared past the previous record to reach $268,000 in June, according to the Arizona Regional Multiple Listing Service's latest research. The previous record median price was about $265,000, set in June 2006, Arizona Regional Multiple Listing Service data show. The housing crash and the Great Recession started in 2007. Phoenix-area home prices hit bottom in September 2011, when the median plummeted to about $120,000.
Read Article - AZ. Central
Rents continue to rise in Phoenix, according to new report
Though Phoenix remains one of the cheaper places to live in the country, rents in the region continue to outpace national growth. A new study from RentCafe stated rents rose 6.9 percent during the past 12 months, up from $933 to $997 on average per month for all apartment sizes. That's the third fastest-growing rent prices in the U.S. The Valley's rent increases outpaced the national increase of 3 percent, but prices remain significantly lower than the national average apartment rent of $1,412, according to RentCafe's monthly Apartment Market Report.
Read Article - Business Journal
15 Surprising Real Estate Trends Impacting 2018
This year has been one of twists and turns for the real estate market. As with every real estate year, the market can shift in an instant. For this reason, real estate professionals need to keep their eyes open for the next up-and-coming trend to hit the market and cause a stir.
Knowing in advance what to expect in terms of market trends for the real estate industry will not only give you an edge over your competition, but can help you serve your customers better. You’ll be ready and able to implement, react to or inform about the ways the market shifting for the rest of the year — both good or bad.
Read Article - Realtor Magazine
Affordability Called Housing’s ‘Boogeyman’
Americans are spending the most money in nearly a decade on mortgage payments as a share of their household income, according to data from Morgan Stanley. “If there’s a boogeyman in the housing market today, it’s affordability,” James Egan, Morgan Stanley’s co-head of U.S. housing strategy, wrote in a note last week. “As home prices and mortgage rates have risen, it logically follows that homes have become less affordable.” Egan says
Read Article - Realtor Magazine
2018 Phoenix Job Market on the Rise
The Phoenix job market is competitive right now with unemployment rates at a low of 4.9% and consistently dropping. This doesn’t mean, however, that there aren’t a ton of job opportunities out there for you. The Phoenix job market is actually thriving with companies constantly expanding and relocating to the city.
Read Article - localwork.com
Fed Leaves Rates Alone But Hints at Future Hikes
The Federal Reserve decided Wednesday to hold off on raising its short-term interest rates. But it hinted that it likely will deliver its third interest rate increase of the year at its next meeting in late September. The Fed’s key rate does not have a direct impact on mortgage rates, but it usually influences them.
Read Article - magazine.realtor
Metro Phoenix homebuilding hits decade high
New houses are going up in the Phoenix area at the fastest pace in 10 years, and prices are climbing faster than they have in five years. Buyers are again heading to Valley suburbs farther out to find houses they can afford. All are signs that metro Phoenix’s homebuilding market is recovering. But it still has a way to go to rebound from the housing crash that left many Valley fringe neighborhoods half-built and blocks of new houses empty for years.
Read Article - azcentral.com
Just how hot is Arizona’s housing market?
Last year was a good year for the housing market homebuilding industry, according to data collected by Belfiore Real Estate Consulting, a residential market research firm that services all of Arizona. In fact, last year was good for Arizona’s residential real estate market with boosted home sales, prices, and agents making deals.
Demand for both new and resale homes was higher than a year ago, while supply was balanced by a limited resale inventory. And despite the shortage of resale inventory, 7 percent more resale homes sold in December of 2017 than the year before.
While the market has picked up in the past year, so has the number of people looking to capitalize on the hot market.
Read Article - azbigmedia.com
Appraisers, Homeowners Agree More Than Ever on Values
Homeowners and appraisers continue to close the gap between perceptions over home values in their area. Quicken Loans’ National Home Price Perception Index shows that appraised values were just 0.34 percent lower than what homeowners expected in May. A year ago, the gap between the appraiser and owner’s home price opinions was five times larger.
Still, home value perceptions vary quite a bit from city to city. Homeowners in San Jose, Calif., for example, tend to receive appraisals that are, on average, 2.82 percent higher than what they expected. On the other hand, homeowners in Chicago are receiving appraisals that are 1.69 percent, on average, lower than what they estimated.
Read Article - Realtor Magazine
8 Ways to Tell the House You're Buying Is a Flip
The housing market is certainly hot these days, but so are the houses going on the market. Even in tight seller’s markets, it appears sellers are upping their game by updating kitchens, bathrooms, bedrooms and backyards to appeal to more buyers and encourage them to offer top dollar at a chance to win the bid. There’s good reason for that: The sellers are often real estate investors. Property information company ATTOM Data Solutions released its Year-End 2017 U.S. Home Flipping Report in March, which revealed that 207,088 houses and condos were flipped last year, an 11-year high for home flipping.
Read Article - US news
Homes Are Fetching More Than Asking Price
High demand for homes for sale mixed with low inventories is prompting bidding wars. Thirty-seven percent of properties that closed in March sold at or above the list price, according to the March 2018 REALTORS® Confidence Index Survey. That's higher than a year ago, when 35 percent of properties sold at or above the list price.
Read Article - realtor mag
Review Of The Real Estate Market In 2017
The real estate market in greater Phoenix in 2017 outperformed the last five years in sales volume. The number of home sales by Dec. 1 raised from 81,169 in 2016 to 86,832 in 2017, an increase of 6.9 percent. Traditionally, sales peak in the second quarter, particularly in May and June, slowing down by the end of the year with a small rally around November. The trend of home sales is obviously upward, and is a positive sign, along with the fact that normal listings (not short sale or foreclosure) represent a clear majority of transactions. Short sales represent a very small percentage of the market now.
Read Article - all about arizona news
Positive Job Outlook for Arizona for the Next Two Years
We have good news if you’re looking for a new job: the amount of jobs in Arizona is increasing.
A projection by the Arizona Office of Economic Opportunity says the employment outlook in Arizona will grow by 150,000 jobs during the next two years. The outlook was released on Thursday by the department and U.S. Department of Labor.
Read Article - real estate agent magazine
Expert predicts rise in housing market in 2018
Currently, supply is off about 12 percent compared to this time in 2016 says Sibbach. "I believe we are going to see a swiftly up-moving housing market due to the decrease in supply," said Sibbach. "Because of that and in ombination with demand being up about seven percent, it is going to lead to a pretty competitive market but also a good one to buy." Sibbach says two of the hottest areas right now are Chandler and Goodyear. Most buyers want a new or newly remodeled home -- in the price points of $200,000 to $250,000. The majority of buyers Sibbach is seeing right now -- millennials and baby boomers. "A lot of baby boomers looking are looking to downsize right now," said Sibbach
Read Article - ABC 15
Valley Home Values are Up.Will Taxes Climb?
If you own a metro Phoenix home, your latest property valuation is ready.
It will soon arrive via mail or email, and most likely you will see an increase from last year. Overall, the value of single-family homes climbed almost 7.2 percent and condominium values climbed almost 10.5 percent last year, according to the Maricopa County Assessor. Both are pretty close to increases for 2016. This valuation report will determine how much you pay in taxes, but not this year. And don’t be too concerned when you look at the numbers on the government form because its likely your house is worth more. Confusing? Arizona has one of the most convoluted property tax systems in the U.S.
Read Article - StreetScout