Why The Lowest Interest Rate Might Not Be Always Right For You

When choosing a mortgage, don’t rely solely on the rate. It’s crucial to align it with your financial goals because it’s a long-term commitment impacting your financial health.

Consider these points:

Opting for a mortgage that matches your financial goals ensures sustainable and manageable housing costs in the long run.

As financial objectives evolve, your mortgage should offer flexibility to accommodate these changes.

Pursuing home equity growth as a financial objective may lead you to select a mortgage strategy focused on accelerated principal repayment.


Before committing, review your goals, terms,

and seek professional advice for a smart decision. 

3 Signs a Home Will Have Good Resale Value

 

Just like checking under the hood before buying a car, it’s crucial to consider resale value when purchasing a home. It’s often overlooked but essential for a wise investment.

1. Well-maintained

2. Has unique features

3. Accessible to schools and desirable amenities

 

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The Perks of Downsizing

Considering downsizing for retirement? 

It’s not just about saving space; it’s about saving money too!

Downsizing to a smaller home can significantly reduce your bills, including mortgage payments, energy costs, and maintenance expenses.

Plus, selling your larger home could bring in a substantial windfall, thanks to your accumulated home equity.

Home equity is a valuable asset, especially for retirees, often representing a significant portion of their net worth.

Your real estate agent plays a crucial role in this process, guiding you through each step with expertise. 

From pricing your current home to finding the perfect downsized property, they’re there to ensure a smooth transition.

If you’re considering downsizing, ask yourself some key questions about your current and future needs.

Then, reach out to us for personalized advice and explore your options in the market @SHEA PREFERRED REALTY GROUP

Should I Wait for Mortgage Rates to Come Down?

Wondering about the best time to make your move in the housing market? Mortgage rates play a crucial role. 

Generally, when rates are high, buyer demand tends to decrease as people hesitate to commit to higher mortgage payments. 

However, as rates begin to decline, buyer demand picks up, with more prospective buyers jumping into the market.

That’s where expert advice comes in. While rates are projected to decrease later this year, waiting might mean facing increased competition when you’re ready to buy.

Selling now could give you the advantage of moving before the market gets even more crowded.

Don’t navigate this decision alone.

Our team is here to help you understand the market dynamics, assess your options, and make the best move for your situation.

Reach out to us today for personalized guidance! @SHEA PREFERRED REALTY GROUP

The Perks of Buying over Renting

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.

1. Home Values Typically Go Up Over Time

There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):

 

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Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising.

This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, this growing equity can really increase your net worth. The Urban Institute says:

“Homeownership is critical for wealth building and financial stability.”

2. Rent Keeps Rising in the Long Run

Here’s another reason you may want to think about buying a home instead of renting – rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher. According to data from iProperty Management, rent has been going up pretty consistently for the last 60 years, too (see graph below):

 

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So how do you escape the cycle of rising rents? Buying a home with a fixed-rate mortgage helps you stabilize your housing costs and say goodbye to those annoying rent increases. That kind of stability is a big deal.

Your housing payments are like an investment, and you’ve got a decision to make. Do you want to invest in yourself or keep paying your landlord?

When you own your home, you’re investing in your own future. And even when renting is cheaper, that money you pay every month is gone for good.

As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), says:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

Bottom Line

If you’re tired of your rent going up and want to explore the many benefits of homeownership, let’s talk to explore your options.

What More Listings Mean When You Sell Your House BLOG April 30, 2024

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right.

But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below):

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This graph shows more homeowners are putting that sale sign up in their yards compared to the same time last year. As Realtor.com says:

“. . . sellers turned out in higher numbers this March as newly listed homes were 15.5% above last year’s levels. This marked the fifth month of increasing listing activity after a 17-month streak of decline.”

What This Means for You

If you’ve been putting off selling your house, maybe it’s time to start thinking about it again – before your neighbors do. While we’re not going to suddenly have a surplus of homes for sale, each house that pops on the market in your area runs the risk of pulling buyer attention away from yours.

For example, if your neighbor gets in on the action and lists their house too, it means you’ll have competition right next door. You don’t want buyers to tour your house and fall in love with someone else’s. You want yours to be in the spotlight.

A great agent can make that happen. They’ll help you get your house ready to list, draw attention to everything today’s buyers are looking for, and help you price it right. That way buyers are really drawn to your listing and eager to make it their home.

If you’re ready and able to sell now, here’s your chance to get the best of both worlds. Since the supply of homes for sale is growing, you’ll have more options for your own move. But you’ll also be able to sell while your house will still stand out.

Bottom Line

Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. Let’s connect to go over the perks of selling before more homes come to the market.

 

Consider a Den than a Three Bedroom

 

When searching for your dream home, don’t overlook the practicality of a den! 

While three full bedrooms may seem essential, a den offers flexibility and comfort for guests without encouraging extended stays.

Plus, with the option of adding a Murphy bed, you can maximize space effortlessly. 

Ready to explore homes with versatile layouts?

Reach out to our team for expert advice and find the perfect fit for your lifestyle! @Shea Preferred Realty Group

Real Estate Agents in Arizona

Real estate agents are more valuable than ever.

Don’t go through the real estate market alone. Here are the top five reasons why you need an agent:

* Industry Experience: The right agent – the professional – will coach you through everything from start to finish. And in today’s complex market, the way real estate transactions are executed is constantly changing, so having the best advice on your side is essential.

* Expert Local Knowledge: In a world that’s powered by data, a great agent can clarify what it all means, separate fact from fiction, and help you understand how current market trends apply to your unique search. 

* Pricing and Market Value: Agents help you understand the latest pricing trends in your area. What’s a home valued at in your market? What should you think about when you’re making an offer? Is this a house that might have issues you can’t see on the surface? No one wants to overpay, so having an expert who really gets true market value for individual neighborhoods is priceless.

* Review Contracts and Fine Print: In a fast-moving and heavily regulated process, agents help you make sense of the necessary disclosures and documents, so you know what you’re signing. Having a professional that’s trained to explain the details could make or break your transaction, and is certainly something you don’t want to try to figure out on your own.

* Negotiation Expertise: From offer to counteroffer and inspection to closing, there are a lot of stakeholders involved in a real estate transaction. An agent will advocate for you as they work with each party. It’s a big deal, and you need a partner at every turn to land the best possible outcome.

Don’t worry about the complexities of buying a home alone. Reach out to us for expert guidance on your home buying journey! Contact us @SHEA PREFERRED REALTY GROUP

What Should a Realtor Do for You?

 

Selling your home? Here’s what your realtor should be doing for you:

* Pulling together a CMA for optimal pricing 
* Developing a personalized marketing plan that includes serious social media exposure
* Making staging suggestions to enhance appeal 
* Providing regular updates and feedback from buyers 
* Skillfully representing your best interests to secure the best contract terms 

If you’re looking for a Realtor who goes above and beyond to get your home sold, reach out to us today! Let’s make your real estate goals a reality.

The Perks of Downsizing When You Retire

 

  • If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses.
  • Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move.
  • If you’re thinking about moving to a smaller home, let’s go over your goals and look at your options in our local market.

 

Ben Leeson and TJ Kelley

Arizona Experience Realty Group Resale Broker for the SHEA Preferred Program

480-677-8170

Info@ENCBrokers.com

 

36460 N Encanterra Drive Queen Creek, AZ 85140