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Is Right Now a Good Time to Buy a Home?

Here are three things to consider if you’re thinking about buying a home.

Is right now a good time to buy a home? There’s a lot of emotion wrapped up in this question, but I always like to look at the facts, break them down, and use them to make an informed decision. Here are some things to consider if you’ve been waffling over this question:

1. Your exit strategy. If you’re looking to buy a house soon, what’s your exit strategy? If you have no foreseeable plans to move out of that home for the next several years, your plan matters. Markets cycle up and down, so even if you did buy now and the market were to correct, it will still come back up, meaning you’re not forced to sell at a certain time. That way, you can sell when the market cycles up. Right now, we are on one of those up-cycles, but because of several other factors, that doesn’t mean you should be afraid to buy.

2. The local market conditions. Right now, the U.S. unemployment rate hovers around 8%. Conversely, the unemployment rate in Maricopa County is only 5.9%, which is much healthier than the national average. Here, there’s job growth, corporate tax cuts, and a lot of big companies coming into the area. More than just your county, you also need to look at what’s going on in your specific city and perhaps neighborhood. It could be that the house you’re selling has a lot of demand with very little supply, causing you to max out your purchase price, but the one you’re looking to buy doesn’t have as much demand with a decent amount of supply, meaning you can get a good deal.

“I always like to look at the facts, break them down, and use them to make an informed decision.”

3. The affordability index. Right now, the index says that across the country homeowners had equity appreciation of 6.6% in the second quarter alone. Granted, it went down when COVID hit, but it bounced right back up. Again, be sure to look at your local market. Year over year in Arizona, we have an appreciation rate of about 16%, which is amazing.

Without question, now is a good time to sell across the board. If you’re looking to buy, it’s still a reasonably good time. Given the local economic conditions, that’s probably not going to change any time soon. Soon, snowbirds will begin traveling down here to purchase, and the weather will be perfect.

If you have any other questions about buying homes or other real estate topics, please reach out to me. I’d love to hear from you.

How Are We Celebrating Our Clients This Year AND Giving Back to Our Local Community?

Instead of our typical client event, we’re hosting something a little different.

Normally, our client events and parties are a simple way to give back and say thanks to all of you. We always cherish the time we get to spend with all of you in person, but because of COVID, it’s been a little difficult to plan one for this year.

So we came up with the idea for a giveaway, and it’s very easy to enter. All you have to do is pick up the phone on Wednesday, October 21, and give us a call at 888-KCRG-11 (888-527-3411) between 9 a.m. and 5 p.m. You’ll be automatically entered into our drawing for the chance to win the Green Egg Mini Max mobile smoker. It’s portable, great for tailgating or parties, and it makes delicious food.

With the holidays around the corner, we also want to give back to the local community. For each and every call we receive during the event, I will personally donate $5 to the St. Mary’s Food Bank on your behalf. The more people who call and enter, the more we’re helping the community and the better chance you have of winning the prize.

Want multiple entries? All you need to do is head to our Facebook page and “like” it for a second entry. If you take it a step further and share our post to your personal Facebook page, you get a third entry. If you refer us to someone who is looking to buy or sell a home right now, you’ll get yet another entry. Each referral after that will result in an additional entry.

“The more people who call and enter, the more we’re helping the community.”

On October 22, we’ll do the drawing and announce the winner, so stay tuned for that. If you have questions for us about the giveaway or anything else related to real estate, don’t hesitate to reach out via phone or email. We look forward to hearing from you.

Which Closing Costs Must Arizona Buyers Pay?

These are the closing costs for which all Arizona buyers should prepare.

Which closing costs are you responsible for when purchasing property in Arizona? There are a lot of misconceptions about this topic, so today I’ll list the four costs you should prepare for and explain how each varies depending on your situation.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety, or use these timestamps to browse specific points at your leisure:

0:53—Inspection fees

1:41—Appraisal fee

2:23—Lender fees

3:37—Title fees

5:03—How your down payment differs from the closing costs

5:41—How closing costs can be negotiated

6:24—Wrapping things up

As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.