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Phoenix Real Estate

How Should You Spend Your Marketing Money Right Now?

Here’s advice for handling marketing on the other side of this pandemic.

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On the latest episode of my show “Selling Real Estate,” Elizabeth joined me once again to discuss another interesting real estate topic. Last week, we talked a little about what you should be doing to get back in the real estate game full force. This week, we’re going to talk about where to spend your marketing money now that things are opening back up a bit.

Feel free to follow along in the video above, or use the timestamps I’ve provided below to navigate the discussion at your leisure:

2:10- Which three rules should you follow when it comes to spending money on marketing?  
4:00- The three buckets in which you should be putting your marketing money  
4:51- Why Facebook and Instagram ads are the most cost-effective marketing solutions  
6:37- Important tips for running online webinars  
9:00- Using canceled and expired data to your marketing advantage  
11:50- Wrapping things up  

If you have questions for me about anything discussed in today’s video, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Is Mortgage Forbearance the Right Option for You?

Here’s what homeowners need to know about mortgage forbearance.

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The question I’m getting a lot lately is, “Where do you see the real estate market going in the short term because of the coronavirus pandemic?”

Mortgage forbearance is a hot topic right now.

With roughly 15 million Americans unemployed and many others furloughed, it’s understandable that a lot of people are struggling to pay their mortgage. When the government announced that mortgage forbearance would be an option for struggling homeowners, they forecasted that 2% of all mortgage holders would take this route. During the first week of May, the actual number was roughly 7%, and it’s still climbing. Hopefully, it subsides as economies across the country reopen.

What do you need to know about mortgage forbearance?

First, forbearance is neither forgiveness nor deferment; it’s a temporary relief of payment, but you’ll still owe that suspended amount eventually. If your mortgage is backed by Fannie Mae or Freddie Mac, the CARES Act assists you with your mortgage forbearance in that your lender can’t require a balloon payment. In other words, the amount you owe gets tacked on to the back end of your loan, or the amortization of your loan is restructured to include the payments you miss.

If your loan is backed by a private investor, they can do whatever they want, such as requiring a balloon payment in three or six months. For example, let’s say your lender requires a balloon payment in three months; you won’t have to pay anything during that time frame, but once those three months are up, you’ll have to pay the accumulated amount and the fourth month’s payment. If you can’t pay that total, there may be consequences.

In most cases, once you go into mortgage forbearance, you can’t get financing to buy another property for another 12 months.

It’s important to note that mortgage servicing companies make their money by, obviously, servicing loans. This means they don’t want homeowners refinancing out of their loans or selling their mortgages, and it’s also why they’re proactively reaching out to homeowners and advising them to take the mortgage forbearance route. Once you do this, your loan can’t be refinanced, and they probably won’t sell your mortgage.

Is mortgage forbearance the best option for you? In most cases, once you go into mortgage forbearance, you can’t get financing to buy another property for another 12 months. Lenders can decide not to report the forbearance to the credit bureaus, but if it ends up getting notated anywhere, that will affect your ability to buy another home for a whole year.

It’s because of this that a lot of homeowners who’ve taken the forbearance route are potentially digging themselves a hole they may not be able to climb out of, so consider these factors before making a decision.

If you have questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to speak with you.

Where Is Real Estate Headed in the Short Term?

Our real estate market has certainly been affected by the coronavirus pandemic, but could some much-needed relief be on the horizon? Here are my thoughts.

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The question I’m getting a lot lately is, “Where do you see the real estate market going in the short term because of the coronavirus pandemic?”

We’re starting to see a little bit of light at the end of the tunnel here as we close out April. Some medical advances are being made, and Congress has passed another $450 billion to help support small businesses, which has already saved about 30 million jobs here in America. However, the unemployment rate has gone up significantly, which is not good, and there will be consequences from that.

Here are a couple of stats I want to share today to show you that houses are still selling right now in Maricopa County.

Last weekend, 341 homes closed escrow and 303 homes went under contract. That’s a pretty encouraging sign. Last Monday, 192 homes went under contract, 183 homes closed, and 149 went on the market. We’re still seeing that imbalance of supply and demand, which is tilted in sellers’ favor. We have about a three-month supply of homes right now.

Hopefully we will start to see some positive regression soon.

If you need to sell, this is still a good market for it. Mortgage interest rates are still very low for buyers and you can take advantage of the imbalance I mentioned previously. If you do need to sell, how do you do it safely? Here’s what we recommend:

  1. Leave the house for showings
  2. Keep all interior doors open
  3. Provide gloves
  4. Open the front and back doors (with gloves on)

We’re also helping homebuyers and sellers through virtual walk-throughs, sales, and more.

As you can see, homes are still selling and the economy is still moving, but hopefully, we will start to see some positive regression once things die down.

If you have any questions for me in the meantime, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

How the New Stimulus Package Affects Our Housing Market

Here’s how the government’s new stimulus package impacts our Arizona housing market.
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Today I want to share a quick update on how the coronavirus and the federal government’s stimulus package impact our Arizona housing market.

First, it’s important to know that homes are still selling at a healthy rate in Maricopa County. The market has not come to a screeching halt, and this stimulus package will help many small business owners stay afloat, and employees stay employed. To find out more, watch the video above.

Staying Afloat During Uncertain Times


Although we’re all uncertain about the future of the real estate market as we navigate a shift amid this pandemic, there are things you can be doing now to ensure that your business succeeds in the long run.

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Looking to sell your home? Click here.

In the latest episode of my podcast, “Selling Real Estate with Kelly Cook,” we discussed how to stay afloat during the coronavirus pandemic. Although this pandemic has interrupted our daily lives and most of our businesses, there are still ways that you can handle the rising tide until this is over.


Hope is not a strategy. You need to do something different right now, and our team utilizes a 10-step process to ensure that we’re keeping our heads above water. To learn more, watch the full episode here.