Arizona Real Estate Archives - Page 3 of 13 - J.P. Cook

The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four months. This is the major reason home prices have continued to appreciate at higher levels than historic averages. The good news is

Why Working with a Local Real Estate Professional Makes All the Difference

July 31, 2017

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

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If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the

Homeowners: Your Home Must Be Sold TWICE

July 27, 2017

For Sellers, Selling Your Home

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In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal. If prices are surging, it is difficult for

Thinking of Selling? You Should Act NOW!

July 18, 2017

For Sellers, Selling a Home, Selling Your Home

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If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to

More Americans Chose to Own a Home Than Rent in First Qtr 2017

July 17, 2017

First Time Home Buyers, For Buyers

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According to the latest report from the US Census Bureau, more Americans chose purchasing a home over signing a lease to rent in the first quarter of 2017. This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households. Of the 1.22 million new households

5 Reasons Why You Should Not For Sale By Owner!

July 14, 2017

For Sellers, FSBOs

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In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are

Is Now a Good Time to Rent?

July 14, 2017

First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

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People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 first quarter median rent numbers. Here is a graph

Epic Housing Shortage Being Reported

July 6, 2017

For Sellers, Housing Market Updates, New Construction

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The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study. The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new

Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!

July 5, 2017

For Buyers, Interest Rates, Move-Up Buyers

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If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are

Your Opportunity to Achieve the American Dream Keeps Getting Better!

July 4, 2017

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

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Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs. The national