Blog - Page 7 of 134 - J.P. Cook - Arizona Real Estate

Many Americans got some depressing news this week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home. According to the Tax

Instant Reaction: March Housing Starts

April 20, 2017

Build a New Home, New Construction

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The following is NAR Chief Economist Lawrence Yun’s reaction to this week’s U.S. Commerce Department report on March residential construction: “A major housing shortage exists in this country. It is therefore disappointing to witness in March the continued lackluster performance in new home building, which was the second lowest activity over the past six months. Home

Tax Day is Here Again. Here’s the Big Homeowner Advantage:

April 18, 2017

tax tips, taxes

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Except for accountants, Tax Day probably isn’t anyone’s favorite day of the year. The whole event comes with some level of stress, even for those filers expecting a big return this year. The National Association of Realtors® is reminding homeowners that they have a big tax advantage. According to NAR, homeowners saved an average of

Is Your First Home Within Your Grasp?

April 14, 2017

First Time Home Buyers, For Buyers, Infographics, Millennials, Move-Up Buyers

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Some Highlights: ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old. More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now! Give

Home Mortgages: Rates Up, Requirements Easing

April 13, 2017

Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

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The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the

Millennials Flock to Low Down Payment Programs

April 12, 2017

Down Payments, First Time Home Buyers, For Buyers, Millennials, Move-Up Buyers

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A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January. The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from

Careful…Don’t Get Caught in the Rental Trap!

April 11, 2017

First Time Home Buyers, For Buyers, Move-Up Buyers

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There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that, “Low rental vacancies and a lack of

The Importance of Using a Professional to Sell Your Home

April 11, 2017

For Sellers

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When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In order to accomplish all three goals, a seller should realize the

Why Millennials Choose to Buy

April 7, 2017

First Time Home Buyers, For Buyers, Infographics, Millennials, Move-Up Buyers

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Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” At 93%, the top reason Millennials choose to buy is to have control over

Instant Reaction: March Jobs Report

April 7, 2017

Housing Market Updates

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The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics’ report on employment conditions in March: “The soft hiring seen in March is not too concerning and likely a single month aberration. The recent high levels of voluntary quitting, presumably because of better job opportunities elsewhere, will lead