Buying and Selling Simultaneously

In a perfect world, buying and selling simultaneously would go according to schedule. 
The reality is it doesn’t always pan out as nice and timely as you would like. 
Thankfully, there are a few tricks and strategies you can utilize to smooth out any wrinkles in the plan.

1) Leasebacks –  Leasebacks allow you to sell your home and then rent it back temporarily from the new owner. 
It buys you time to find and close on your dream home without rushing or having to move twice.

2) Bridge loans – This type of loan acts as a temporary financing solution, bridging the financial gap between selling your current home and purchasing a new one. They often involve two phases. 

Phase 1 – You may not have to make monthly payments on your new home, but interest accrues.

Phase 2 – Once your current home sells, you use the proceeds to pay off the bridge loan, including accrued interest.

 

Keep in mind a bridge loan can free you from the contingency of selling your current home before buying a new one.

If you’re planning to buy and sell at the same time, swipe for a few more dos and don’ts.

Want to Learn More About Buying & Selling? Send us a message and we will be happy to help! @Shea Preferred Realty Group

Childhood Nostalgia

Watch the video here!

Remember the days when kicking a can and playing in the creek were the highlights of our childhood? 

Nowadays, it’s our grandchildren who find it all a bit strange. 

Back then, we had to create our own adventures without the distractions of cell phones and constant interruptions. 

Who else can relate to the ‘good old days’? 

 

Baby Boomer Dilemma: Buy or Rent Your Next Home?

 Are you retiring and contemplating your next move?

Consider these:

Expect Rent to Keep Rising

Rental costs have been climbing steadily for years. Choosing to rent may mean facing increasing payments each year. Owning with a fixed-rate mortgage offers stability, locking in your monthly payment for the long term.

 

Benefits of Homeownership

AARP suggests that buying your next home is a wise long-term decision. Build generational wealth for your family. If you have enough equity to buy your next home outright, you wouldn’t have a monthly mortgage payment. Freedom to make renovations and home updates.

 

Consider Buying Your Next Home

As a baby boomer, the decision to buy or rent your next home is significant. With rents on the rise and homeownership offering numerous advantages, it may make sense to explore the path of buying your next home.

 

 

Use Your Equity to Help You Retire

 

IS IT TIME FOR A NEW HOME?

Retirement is a milestone filled with opportunities, including the chance to find your perfect home for this exciting chapter. But how do you know if it’s the right time to make a move?

HOW LONG HAVE YOU BEEN IN YOUR HOME?

In the past, homeowners changed residences every six years on average. Today, that number has grown to over nine years. If you’ve been in your home for a while, life changes may mean your needs have evolved.

CONSIDER THE EQUITY YOU’VE GAINED

The longer you’ve owned your home, the more equity you may have built. On average, homeowners who’ve been in their homes for five years have seen a nearly 60% increase in value! For those with 30 years of ownership, the value nearly triples.

RETIRING WITH HOME EQUITY

Thinking about downsizing, relocating, or living closer to loved ones? Your equity can make it happen. Partner with aus and we can help you sell your current home and find your dream retirement residence.

 

Our Encanterra Listing Process Stands Out!

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Ever wondered what sets our listing process apart from the rest?

TJ shares the inside scoop! From top to bottom, we leave no stone unturned to get your home ready for listing.

We’re all about the fine details, ensuring every “i” is dotted and every “t” is crossed before your listing goes live. 

When it comes to making your listing stand out, we’ve got it down to a science! 

#queencreekrealtor #qcrealtor #azrealtor #queencreekrealestate 

#eastvalleyrealestate #eastvalleyrealtor #queencreekrealestateagent #eastvalleyrealestateagent

Your Home Equity Can Offset Affordability Challenges

 

Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.

 

Bankrate explains exactly what equity is and how it grows:

“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s value increases over the long term and you pay down the principal on the mortgage, your equity stake grows.”

In other words, equity is how much your home is worth now, minus what you still owe on your home loan.

 

How Much Equity Do Homeowners Have Now?

Recently, your equity has been growing faster than you might think. To help contextualize just how much the average homeowner has, CoreLogic says:

“. . . the average U.S. homeowner now has about $290,000 in equity.”

That’s because, over the past few years, home prices went up significantly – and those rising prices helped your equity to accumulate faster than usual. While the market has started to normalize, there are still more people wanting to buy homes than there are homes available for sale. This high demand is causing home prices to go up again.

According to the Federal Housing Finance Agency (FHFA), the Census, and ATTOM, a property data provider, nearly two-thirds (68.7%) of homeowners have either fully paid off their mortgages or have at least 50% equity (see chart below):

That means nearly 70% of homeowners have a tremendous amount of equity right now.

 

 

How Equity Helps with Your Affordability Concerns

With today’s affordability challenges, your equity can make a big difference when you decide to move. After you sell your house, you can use the equity you’ve built up in your home to help you buy your next one. Here’s how:

  • Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy a new house without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates. The National Association of Realtors (NAR) states:

“These all-cash home buyers are happily avoiding the higher mortgage interest rates . . .”

  • Make a larger down payment: Your equity could be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much money so today’s rates become less of a sticking point. Experian explains:

“Increasing your down payment lowers your principal loan amount and, consequently, your loan-to-value ratio, which could lead to a lower interest rate offer from your lender.”

 

Bottom Line

If you’re thinking about moving, the equity you’ve built up can make a big difference, especially today. To find out how much equity you’ve got in your current house and how you can use it for your next home, let’s connect. @SHEA PREFERRED REALTY

Advantages of Selling Your Home in the Fall

 

Thinking about selling your home this fall? 

Here are some advantages to making that move:

1. Less Competition: With fewer homes on the market, yours truly stands out.

2. Serious Buyers: Fall attracts motivated buyers eager to settle in before the holidays and chilly weather.

3. Year-End Tax Benefits: Maximize tax advantages by selling before the year’s end – a win-win!

4. Relocations: Companies often relocate employees before year-end, bringing a fresh pool of potential buyers your way.

5. Cozy Vibes: Imagine showcasing your home amidst changing leaves (some here in AZ), crisp temperatures, and pumpkin spice everything – it’s the perfect time to highlight its charm.

 

Ready to discuss listing your home for a successful sale?

Send us a message, and we’ll be in touch! @SHEA PREFERRED REALTY

Should Baby Boomers Buy or Rent After Selling Their Houses?

 

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead?

 

That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you.

Expect Rents to Keep Going Up

The graph below uses data from the Census to show how rents have been climbing steadily since 1988:

Rents have been going up consistently over the long run. If you choose to rent, there’s a risk your rental payment will go up each time you renew your lease. Having a higher rental expense may not be something you want to deal with every year.

When you buy a home with a fixed-rate mortgage, it helps stabilize your monthly housing payment. This allows you to lock in your monthly payment for the duration of your home loan. That keeps your payments steady and predictable for the long haul. Freddie Mac sums it up like this:

“. . . homeowners with fixed-rate loans will see little to no change to their monthly housing cost over the life of their loan. You can be confident in knowing that your mortgage payments won’t change much in the long term, even when life’s other costs do.”

Owning Your Home Comes with Unique Benefits

According to AARP, buying your next home is a better long-term strategy than renting:

“Though each option has pros and cons, buying provides more pros, with a broader range of benefits.”

To help you choose what you’ll do after you sell, here are just a few of the benefits of homeownership that article covers:

  • Owning your home can help you save money for the future. Your home, and the equity you build as a homeowner, can provide generational wealth that could be passed on to loved ones, giving them a better life.
  • You might not have to pay a monthly mortgage payment at all. If you have enough equity to buy your next home outright, you wouldn’t have a monthly mortgage payment. While you might still need to cover property taxes or maintenance fees, not having to worry about a monthly mortgage payment could be a big relief.
  • Aging in place can be simpler. If your needs change, owning your home gives you the freedom to make renovations and updates that can make everyday life easier.

Bottom Line

If you’re a baby boomer who’s wondering whether you should buy or rent your next home, let’s connect! With rents going up and homeownership providing so many benefits, it may make sense to consider buying your next home. Contact us anytime @ SHEA PREFERRED REALTY

Achieving the ‘Wow Factor’ in Your Home to Maximize Its Value

 

In the world of Real Estate, first impressions are everything. Today, we’re in a home that exemplifies the concept of the “wow factor.” If this property were to hit the market, it would undoubtedly attract buyers in the million-dollar range. But what is this elusive “wow factor,” and why does it matter so much in today’s Real Estate market?

Click to Watch our Video!

Understanding the ‘Wow Factor’

When buyers are in the market for a new home, regardless of their budget, they all share a common desire—the desire for the “wow factor.” It’s that feeling of walking into a space and being instantly impressed. It’s the feeling of knowing that you’re not just buying a house; you’re buying an experience, a lifestyle, a dream.

The Impressive Kitchen

One area where the “wow factor” often takes center stage is in the kitchen. It’s the heart of the home, and buyers today want a kitchen that not only meets their practical needs but also impresses their family and friends. They want a space where they can showcase their culinary skills, a place that exudes luxury and functionality.

Why the ‘Wow Factor’ Matters

In today’s competitive Real Estate market, achieving the “wow factor” is not just about aesthetics; it’s about maximizing your property’s value. Buyers are willing to pay a premium for homes that offer that extra something special. It’s the difference between a house that sells quickly at or above the asking price and one that lingers on the market.

 

Regardless of your property’s price range, the “wow factor” is the key to attracting today’s discerning buyers. It’s about creating a space that resonates with them, that sparks their imagination, and that ultimately feels like home. So, whether you’re considering selling or simply want to enhance your living space, remember that the “wow factor” isn’t just a luxury; it’s a smart investment in your property’s future.

 

If you are selling or buying a home, reach out to us and we will be glad to help you! @SHEA PREFERRED REALTY

The Latest in Listing Reports: Your Guide to Informed Homebuying in the Valley

Are you in the market for a new home in the Valley? If so, you’ve probably encountered the sometimes frustrating world of listing reports. It’s not uncommon to find listings that lack essential details like the number of bedrooms and bathrooms, accurate pricing, or even the city location. To help you navigate these challenges and ensure you get a realistic view of the homes on the market, Ben, your trusted real estate expert, is here to guide you through the latest in listing reports! 

 

The Problem with Incomplete Listings

Listing reports are meant to provide prospective homebuyers with essential information about available properties. However, not all listings are created equal. Many fall short of delivering the key details you need to make an informed decision.

  1. Missing Bedrooms and Bathrooms: It’s astonishing how often listings omit critical information like the number of bedrooms and bathrooms. This oversight can leave you guessing whether a home is suitable for your family’s needs.
  2. Unclear Pricing: Pricing is a crucial factor when considering a new home. Unfortunately, some listings fail to provide accurate pricing information, leaving you uncertain about whether a property fits within your budget.
  3. Incomplete Location Data: Imagine finding a dreamy listing only to realize it doesn’t specify the city or neighborhood it’s located in. This can lead to a frustrating and time-consuming search for the property’s actual location.
  4. Limited Photos: A picture is worth a thousand words, and this holds true in real estate. Listings with a limited number of photos can make it challenging to visualize the property’s features and condition.

Connect with Our Team!

Rather than spending your valuable free time scouring unreliable listing reports on platforms like Zillow, Ben and our dedicated real estate team offer you a smarter solution. We understand the importance of a seamless and informed homebuying experience. That’s why we’re committed to helping you every step of the way!

Here’s what we can do for you:

  1. Personalized Home Searches: We’ll create a personalized home search tailored to your unique criteria. Whether you’re looking for a specific number of bedrooms, a certain price range, or a particular neighborhood like Encanterra or Queen Creek, we’ve got you covered.
  2. Comprehensive Information: Say goodbye to incomplete listings! Our team ensures that you receive all the essential details about each property, so you can make well-informed decisions.
  3. Ample Listing Photos: Visualize your future home with confidence. We provide you with an extensive collection of high-quality listing photos, giving you a virtual tour of each property.

Let’s Get Started!

Don’t let incomplete listing reports stand in the way of finding your dream home in the Valley. Connect with us today, and let Ben and our team simplify your homebuying journey. @ SHEA PREFERRED REALTY GROUP

With our expertise and commitment to your success, you’ll be well-equipped to make informed decisions about your next home purchase. Say goodbye to the frustration of incomplete listings and hello to a seamless, enjoyable homebuying experience!

#listings #listingreport #homelisting #listingphotos #arizonarealestate #encanterra #queencreek #queencreekrealestate #queencreekrealtors

 

 

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