Real Estate, Selling Your Home, Valley of the Sun Communities

Planning to sell your home? Don’t wait. Place it on the market TODAY!

You probably had to read the headline twice.  Today?  You mean, today.  Yes, we mean TODAY.  Why the urgency?  The 2017 housing market shows that now is the time to sell.  January unveiled great numbers which paths the way for a strong housing market for this year.

for sale
Lawrence Yun, Chief Economist for the National Association of Realtors, said:
“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

And CNBC says consumer confidence in the economy is fueling the market:
“U.S. home resales surged to a 10-year high in January as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy.”

A depleting inventory leaves a challenging market.  In order for a balanced market of homes for sale and interested buyers, the inventory would require a full six-month supply of homes.  The current situation is that there is less than a four-month inventory which means a 7.1% decrease from last year.

Admit it.  These statistics are make you look a little more closely about selling.  The increasing demand and low home supply provides the perfect climate for selling your home for the best price.  I’m more than happy to help you in this process to see if the market is hot in your neighborhood.

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Buying a Home, Real Estate, Selling Your Home, Valley of the Sun Communities

The Great Housing Dilemma: Practical steps to selling your old home and buying a new one.

buy-sell
The steps to “moving up” or “sizing down” can be a daunting and confusing one.  Do you sell first?  Buy first?  When is a good time to talk to a financial institution about your plans?  When does a real estate agent come into the picture?  You may not know where to start.  However, I want to reassure you that a good plan can be your best asset.

Oh, the Great Housing Dilemma.  The thought of it can brings so much anxiety.  Remember that the overall goal is to maximize the selling price of your home and find a new one for a reasonable price.  However, If you sell your current home first, where will you live until you find a new one?  If you buy first, you are stuck with paying two mortgages– that is, if a lender has the ability to offer you a second mortgage.

Options during this transition may involve:

Borrow down payment money for the second house from family or friends. Point out that you need help for only a short period, and offer a competitive interest rate. Give the person making the loan a promissory note, secured by a second mortgage (deed of trust) on your new house. Try to arrange it so that no monthly payments are due until your first house sells. Be warned, however, that depending on your financial situation, institutional mortgage lenders may refuse to approve a loan where the down payment doesn’t come from your own resources.

Get a bridge loan from a financial institution. If you have no other choice, it may be possible to borrow money from a bank or other lender to bridge the period between when you close on your new house and when you get your money from the sale of your old one. This idea is that you take out a short-term loan on your existing house, using it toward the down payment and closing costs on your new house, and repaying it when your first house sells.

Bridge loans can, however, be far more expensive than regular mortgage or home equity loans (higher upfront payments as well as interest rates), and they’re not easy to qualify for — you have to have plenty of equity in your current home and enough income to pay both mortgage payments indefinitely. The requirements all but negate the benefits of the loan!

First things first, evaluate the housing market with a trusted licensed real estate agent like myself.  I can give you current market value for your home to sell as well as advise on what is on the market for your next home.  With the marketing that I can do early on, I may be able to secure a buyer while you are preparing your home for sale.  I currently have an active listing that I “pre-marketed” for 3 months and accumulated interested buyers.  Now the home is actively for sale, we have multiple offers!  Multiple potential buyers who are interested in the listing will sell the home very quickly.

I am happy to do “Seller Net Sheets” that allow you to see estimated values of what you will net.  Talking to a lender will also determine what the lender feels your budget should be.  This allows you to know what is a reasonable next purchase should you need or desire to finance that purchase.  My goal is to get all of the information and planning done upfront so the transaction is seamless when we decide to proceed.

If you still have questions, I’m here to help!  Call me at 480-466-8193.  Erin Newman

Uncategorized, Valley of the Sun Communities

There’s lots of reasons why Tempe could be your next neighborhood.

My full-time real estate career takes me all over the valley.  As I talk with my clients, I can get a feel of what they are looking for in a home.  But there’s a bigger picture in mind.  The people.  The neighborhood. The community.  What do they picture doing on the weekends?  Whether it’s hiking or perusing through a local farmer’s market, finding a home is so much more than where you place your head at night.  Through a series of Valley of the Sun Community blogs, I will be featuring several local communities that may give you a new yearning to be there, to connect there, and to live life there.  So let me ask you…what area you want to call home?

Tempe

tempe
If it has been a while since you’ve been to Tempe, it’s time to give it a second look. With a thriving culture of eclectic restaurants, museums, shops, and ASU (Arizona State University for all the non-locals) campus, there’s always something to do.  Walking through downtown Tempe on Mill Avenue gives you a sense of the life here.

Dining local

You’ll quit eating chain food restaurants when you discover the sacred dining district in this part of town.  You never have to leave your own town to experience flavors from all over the globe in the local eateries.  House of Tricks offers a relaxed dining experience and a menu that is sure to satisfy any craving.  Feast on Korean baby back ribs, house smoked salmon, or seared scallops.  Don’t forget to end your meal with a salted caramel-apple bread pudding topped with cinnamon whipped cream

tempe restaurant

Meet friends for Sunday morning brunch at Postino.  The quaint establishments serves up ciabatta French toast and breakfast sandwiches whipped up with only the freshest ingredients.  Check out the wine selection for seasonally rotating menu.  Take in your whole experience while sitting on the patio.

Saturday mornings

If morning runs or getting on the water are your thing, Tempe offers plenty of parks and water recreation.  You’ll soon find your own favorite hotspot for all those sunny desert days when you want to be outside.

One of the most popular spots for everybody- locals and visitors alike- is Tempe Beach Park and Tempe Town Lake.  Town Lake boasts the title for largest Independence Day celebration in the state!  But there’s a plethora of activities around the calendar. Check out the Fantasy in Lights Boat Parade in December and Ironman Arizona in November.  Competitive runners enjoy marathons such as The Rock ‘n’ Roll Arizona Marathon, The Color Run, and Run the Distance for Parkinsons.

fourth of july tempe
Hiking or biking fanatic?  Explore the network of trails at Papago Park.  You will enjoy the natural setting and find some of the best views that the Tempe area has to offer.  The park features an archery range, fishing lagoon, and baseball facility. The Phoenix Zoo and Desert Botanical Gardens are conveniently located.

papago
You always hear to think local, buy local, and support local.  Here’s your chance!  Tempe Farmers Market specializes in organic and local products.  If you want to eat healthy or just try out new ingredients, they can guide you towards what you want.  Grab a specialty latte at the coffee bar while you are taking it all in.

Find a workshop or class for the whole family at the Tempe Center of the Arts.  The events calendar is jammed packed with educational classes to weave in history, art, and fun.

Sea Life Arizona offers an interactive aquarium with touch pools and a 360 degree tunnel. Spend a day observing the likes of lionfish, octopus, and sharks.  Be sure to stop by and visit Ziva, the aquarium’s very own resident endangered sea turtle!

Become a hometown tourist

I know what you’re thinking…. “Erin, why would I do something so “tourist-y”?” My response is you’re seeing the city from a whole new perspective.  And if we’re being honest, you know you’re curious about how fast a segway goes.  Take one around Tempe Town Park.  Is there any better way to get to see your own town?

If that doesn’t sound like your speed, there’s plenty of other ways to experience the city. Rent a boat and spend the day on the water, take an electric bike through the trails, or even see the views by hot air balloon!
http://www.tempetourism.com/things-todo/tours-transportation/

A Culture of Art, Food, and Music

Calling all art lovers!  Tempe Festival of the Arts is consistently hailed as one of the top art shows in the nation and is the recipient for the Pinnacle Award from the International Festival and Events Association.  While locals can enjoy this bi-yearly event in the spring and fall in their own backyard, visitors from all over the country come to this three-day weekend event.  Arts range from photography to ceramics and jewelry but not everybody is invited to participate.  A jury selects the top artists to showcase their work to ensure that guests are viewing the best of the best. As many as 400 artist booths line Mill Avenue and the surrounding streets displaying unique and hand-made artwork that offers a distinctive shopping experience. In addition to the art, the festival also features live entertainment, food and beverage vendors, and street performers for the whole family. Grab lunch and enjoy the day!

Beer and wine bars are a specialty here in Tempe.  Tap into your more refined side (we all have one, right?) at the Arizona Wine Festival for tastings and sales by the glass, bottle, or case. Or if wine isn’t your drink of choice, The Great Arizona Beer Festival features local microbrewery sampling and sales.  Be sure to bring along a DD! tempe wine

Live the college life

Ahhhhh, life in a college town.  The Arizona State University (Go Sun Devils!) is situated perfectly in Tempe and adds exactly what a community needs.  Of course, there’s always collegiate sporting events and Friday night pep rallies. There’s something special about strolling through campus on a beautiful morning.   If you want Broadway performances, look no further than the Gammage located on campus.   The school has a nationally recognized film school so check out the calendar of events opened to the public.

If you’re interested in looking at real estate in Tempe, consult a native from the Valley of the Sun!  I’ll be able to find your dream home in your dream community!  Call me- Erin Newman at 480-466-8193 for a consultation.