Interest Rates, Market Update, Flowers - Jan 2021

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Real Estate

January 2021

Buyers are as plentiful as wild flowers.

Interest rates are amazing. It's raining low rates out there! LOL

Although you'll need to expect to submit multiple offers and to fight against other buyers, waiting can be unpleasant to your housing affordability. We can and will be successful!
If you don't own a home  reading this and call me NOW! Your financial future could be at stake. 

I can help with a variety of strategies to get you into the home of your dreams. Reply to this email or contact me via my cell at 602-730-2143 to create a unique action plan together. 

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Sellers: Enjoy your time it the sun. You earned it.

January is usually the strongest month of the year for new listings. Therefore if we are going to see any relief for buyers, it should arrive ASAP.

On January 2nd, I listed house for $236/sf that is 1311 sf, 3/2, in Chandler. With 2 days on the market, we received 17 offers in just 6 hours of viewings. Yeah, home values certainly look like they will continue to bloom beautifully for a while long. 

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 Renters:  Stop taking so much fertilizer from landowners! (Terrible, but I had to write that! LOL)

You gotta do what you gotta do. I get it. I really do. It took more years after my divorce than I care to admit before I was ready to buy. 

However, expect rents and rental agreements to continually get worse for you.

I'm here to help, whether it be a shoulder to cry on or resources to get you on your ownership path. 

Let's get you started. Call/text me at 602-730-2143.

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Everyone needs to know: 

Prices have accelerated due to the huge imbalance between supply and demand, but as yet we have only seen part of that reaction. Sales prices are a trailing indicator and lag behind the leading indicators by up to 15 months. We can therefore expect to see prices move even higher during the next 12 to 15 months with appreciation rates possibly rising over 20%.

Those who think the increases in mortgage delinquency are going to halt this rise are wishful thinking. The level of delinquency is nothing like as bad as it was during the 2006 to 2008 crisis and the level of delinquency has improved for the last 6 consecutive months. Any extra supply coming onto the market, due to home owner financial distress, is likely to be snatched up quickly by desperate buyers.

*Straight from the Cromford 1/3/21 Market Summary.

 

For more details, please go to https://www.tempehomesforsale.net/media/id/18373047/