Investing in residential real estate can be lucrative, but common real estate investing mistakes can derail success Many investors, especially those new to the market, make common real estate investing mistakes that can cost them time, money, and even their investment. In this post, we’ll explore some of the most common missteps and offer tips to help you navigate the world of residential real estate with confidence. Skipping Proper Research The Mistake: Failing to research the local market thoroughly can […]
The Cromford® Market Index: A Buyer’s Market Returns The Cromford® Market Index (CMI) for all property types in Maricopa County has dropped to 87.1, marking the lowest level since October 2010. This significant decline signals the return of a buyer’s market after 14 years. For homeowners, particularly those facing financial difficulties or the threat of foreclosure, this shift presents new challenges. Navigating today’s market is critical to protect both equity and credit as inventory grows and supply remains uncertain. Avoiding […]
When it comes to home design, one of the more hotly debated topics is whether to go for a traditional closed floor plan or stick with the popular open floor plan. Each option has its own unique set of advantages and drawbacks, and which one is right for you depends on your lifestyle, preferences, and how you envision using your living space. Let’s dive into the pros and cons of both to help you decide what might suit you best. […]
Every presidential election sparks the same question: ‘Will the election affect the housing market?’ It’s a valid concern, particularly for those buying or selling homes in Arizona. Yet, despite the unpredictability of election years, data shows that the impact on the housing market is minimal. While some buyers might claim they’re waiting for election results, they make up only a small portion of the market and have little influence on overall trends. The numbers back this up, showing that sales […]
In today’s digital world, while technology has made the real estate process more accessible, it has also created new opportunities for scammers. Protecting yourself from these scams is crucial for a smooth and secure transaction. Here are some of the most common real estate scams to be aware of, along with tips on how to avoid them. Wire Fraud Wire fraud is one of the most serious and widespread scams in real estate today. Scammers often impersonate real estate agents, […]
A note from the Team Leader, Erica… As of today, August 17, 2024, significant changes resulting from the National Association of Realtors (NAR) settlement will officially take effect across the nation, aimed at bringing greater transparency and fairness to the real estate industry. However, if you’re in Arizona, you’re already a few steps ahead. Our local MLS and the Scottsdale Realtor Association have been proactive in implementing these changes since the beginning of August. This early adoption has allowed us […]
Homeowners Associations (HOAs) are governing bodies that oversee the management and maintenance of residential communities. Living in an HOA community has its advantages and disadvantages, which are important to consider before purchasing a property in such an area. Pros of Living in an HOA Common Area Maintenance: HOAs typically take care of the maintenance and upkeep of common areas such as parks, pools, landscaping, and clubhouses. This ensures that the community remains attractive and well-maintained. Amenities: Many HOA communities offer […]
As winter retreats and temperatures rise, snowbirds begin their migration from sunny Arizona back to their cooler homes for the summer. Preparing your winter home before you leave is crucial to ensure it remains safe, secure, and well-maintained during your absence. Here’s a comprehensive checklist to help you get your home ready: Secure Your Home Lock all doors and windows: Ensure all entry points, including garage doors, are securely locked. Consider using dowel rods in older windows and sliding doors […]
In the realm of real estate transactions, understanding the intricacies of mortgage estimates is crucial for buyers embarking on their homeownership journey. While the Good Faith Estimate (GFE) had long been a staple in providing buyers with upfront cost estimates, regulatory changes in 2015 introduced a new player: the Loan Estimate (LE). In this article we will explore how this transition impacted buyers and why it’s essential to stay informed. The Evolution: From GFE to LE In the past, the […]
With interest rates on the rise, prospective homebuyers in Maricopa County face new challenges in their quest to secure a home, let alone their dream home. In this article we will discuss the implications of these changes and adopting effective strategies for navigating this evolving landscape successfully. Current Interest Rate Trends: In recent times, the Phoenix area has experienced notable fluctuations in interest rates. Economic factors and the Federal Reserve’s policy decisions have contributed to this volatility. As of the […]
