New Rules in Viewing Homes

New Rules for Viewing Homes 

Gone are the days of touring homes obligation-free! Recent changes in real estate law now require buyers to sign a Buyer Broker Agreement before viewing any property. Here’s what you need to know:

– Buyer Broker Exclusive Agreement: This document establishes an exclusive working relationship between us, along with outlining compensation details.
– Buyer Broker Agreement to Show: For those wanting a non-exclusive, short-term arrangement, this option allows a single viewing and also details agent compensation.

Why These Changes? It’s all about transparency and professionalism. These agreements ensure both buyers and agents are clear on expectations and compensation, making for a smoother, more secure home-buying process.

As your experienced Realtor, I’m here to guide you every step of the way. DM me with any questions or to get started on your home search journey!

 

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SHEA PREFERRED REALTY 

Real Estate Success Story with T.J. Kelley of Shea Preferred Realty

When it comes to selling a home, you want a team who goes above and beyond! Recently, we listed a beautiful home in Chandler that faced a $40,000 repair request after inspection, including big-ticket items like a new AC and roof. Challenges like these can be overwhelming, but our team stepped in with experience and strategy.

✨ Through skilled negotiation, we reduced the repair request to just $6,000! Now, our seller is on track for a smooth closing without the hefty price tag. This is the power of having a full-time, dedicated team by your side.

If you’re looking to buy or sell, choose experience and commitment. Let’s achieve success in your real estate journey together!

SHEA PREFERRED REALTY 

 

 

 

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Why Home Sales Bounce Back After Presidential Elections

 

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.

Election Years Bring a Temporary Slowdown

In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day (see graph below):

 

a graph of a person with an orange square

 

Why? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a pattern that’s shown up time and time again, and it’s particularly apparent for buyers and sellers in the housing market.

This year is no different. A recent survey from Redfin found that 23% of potential first-time homebuyers said they’re waiting until after the election to buy. That’s nearly a quarter of first-time buyers hitting the pause button, likely due to the same feelings of uncertainty.

Home Sales Bounce Back After the Election

The good news is these delayed sales aren’t lost forever—they’re just postponed. History shows sales tend to rebound after the election is over. In fact, home sales have actually increased 82% of the time in the year after the election (see chart below):

 

a blue and white chart with numbers

 

That’s because once the election dust settles, buyers and sellers have a sense of what’s ahead and generally feel more confident moving forward with their decisions. And that leads to a boost in home sales.

What To Expect in 2025

If history is any indicator, that means more homes will sell next year. And based on the latest forecasts, that’s exactly what you should expect. As the graph below shows, the housing market is on pace to sell a total of 4.6 million homes this year, and projections are for 5.2 million total sales next year (see graph below):

 

a graph showing the sales of a company

 

And that aligns with the typical pattern of post-election rebounds.

So, while it might feel like the market is slowing down right now, it’s more of a temporary dip rather than a long-term trend. As has been the case before, once the election uncertainty passes, buyers and sellers will return to the market.

 

Bottom Line

It’s important to remember that while election years often bring a short-term slowdown in the housing market, the pause is usually temporary. Those sales are not lost. Data shows home sales typically increase the year after a Presidential election, and current forecasts indicate 2025 will be no different. If you’re waiting for a clearer picture before making a move, just know that the market is expected to pick up speed in the months ahead. For more Real Estate tips, connect with us SHEA PREFERRED REALTY

 

Queen Creek Reduces Town Center Sales Tax to 2.25%: What It Means for Businesses and Shoppers

In a significant financial update for Queen Creek, the sales tax in the Town Center has been reduced by 0.25%, bringing the rate down to 2.25%. This change, effective October 1, 2024, applies to popular shopping areas, including:

 

The sales tax rate throughout the Town of Queen Creek is now 2.25% (in addition to the State and County sales tax). Photo courtesy of the Town of Queen Creek.

 

  • Queen Creek Marketplace (anchored by Target)
  • QC District (anchored by Sprouts)
  • Cornerstone at Queen Creek (anchored by Walmart)

The reduction marks a positive development for both businesses and consumers, following years of steady growth and infrastructure improvements in the area.

A Brief History: Why Was the Sales Tax Reduced?

In 2007, Queen Creek implemented an additional 0.25% sales tax specifically in the Town Center to help cover the costs associated with constructing Ellsworth Loop Road. This road was a key infrastructure project designed to boost economic development by improving traffic flow and creating a thriving commercial hub while preserving the original Ellsworth Road.

Now that the debt related to the Ellsworth Loop construction has been fulfilled, the Town of Queen Creek has eliminated the additional tax. Mayor Julia Wheatley emphasized the Town Council’s commitment to fiscal responsibility:

“The elimination of the additional 0.25% Town Center sales tax is an example of our commitment to reducing taxes and fees when we are able to do so.”

This reduction demonstrates the Town’s continued investment in economic growth while passing savings back to residents and businesses.

Impact on Local Businesses and Shoppers

With the reduction in the Town Center sales tax, businesses located in Queen Creek Marketplace, QC District, and Cornerstone at Queen Creek will now collect 2.25% in sales tax, in addition to the State and County taxes. Over the past several months, businesses were informed of this change to allow them time to update their tax collection practices with the Arizona Department of Revenue.

For consumers, this change means slight savings when shopping at popular stores like Target, Sprouts, and Walmart, and a further incentive to shop locally. Queen Creek continues to thrive as a commercial and residential community, and this reduction in sales tax helps strengthen the local economy.

Continued Investment in Queen Creek’s Downtown Core

Although the additional 0.25% sales tax has been removed, Queen Creek remains committed to enhancing its downtown core. The Town is actively investing in infrastructure improvements to further encourage private investment in the area. The vision for the downtown core includes modern facilities, improved traffic systems, and a more inviting space for businesses and residents alike.

For more information about Queen Creek’s Town Center development and the vision for the downtown core, visit InvesttheQC.com.

What’s Next?

As Queen Creek continues to grow, updates to infrastructure, public services, and financial planning are expected to enhance the quality of life for its residents. The reduction in Town Center sales tax is just one step toward maintaining a prosperous and sustainable community.

To stay informed about Queen Creek’s budget and financial initiatives, visit QueenCreekAZ.gov.

This sales tax reduction is a win for both businesses and shoppers, reinforcing Queen Creek’s position as a growing and economically sound town. Make sure to take advantage of this lower tax rate the next time you shop in the Town Center!

Don’t Leave Money on the Table!

We’ve all seen those “sell your home fast with no hassle” commercials, right?

While they may sound tempting with promises of quick cash offers and flexible move-out dates, here’s the real question: Are you leaving thousands of dollars on the table? 

At the end of the day, it’s about how much you net, not just what you’re being charged. Focusing on fees alone can cost you more than you realize. Getting top dollar for your home involves so many factors beyond a low commission. Remember, you get what you pay for!     

Thinking about selling? Reach out to us to learn how we can help you maximize your sale and walk away with more in your pocket! 

 

SHEA PREFERRED REALTY

The Importance of a Thorough Home Inspection: Protect Your Investment and Peace of Mind

A thorough home inspection is far more than a formality in the homebuying process—it’s a critical safeguard for your investment and well-being. ???? Imagine purchasing your dream home, only to discover issues like hidden leaks, structural problems, or faulty electrical systems after closing. These unforeseen problems can not only lead to costly repairs but also pose serious safety risks. That’s why a comprehensive inspection is a must before making such a significant commitment.

1. Identify Potential Issues Early On

A home inspection allows you to uncover hidden defects that may not be immediately visible. From plumbing issues to roof damage, early detection provides you with the opportunity to negotiate repairs, ask for a price reduction, or walk away from the deal if the problems are too extensive.

2. Avoid Costly Surprises

Investing in a home inspection can save you from future financial headaches. Without a proper inspection, you may be left paying thousands of dollars for repairs that could have been identified beforehand. It’s a small upfront cost that can protect your wallet in the long run.

3. Gain Insights Into the Home’s Condition

Beyond just identifying major issues, a home inspection also provides valuable information about the overall condition and maintenance history of the property. This insight allows you to prioritize necessary repairs and upgrades, ensuring that you take care of your new home from day one.

4. Negotiate with Confidence

A home inspection report gives you leverage in negotiations. Whether you request that the seller make repairs or lower the price to account for the fixes, you’ll be entering negotiations with detailed knowledge of the home’s condition. This can prevent overpaying for a home that requires significant improvements.

Conclusion: Protect Your Future Investment

A thorough home inspection not only helps you protect your finances but also ensures that you’re making a well-informed decision. Don’t skip this crucial step in the homebuying process!

Connect with our team today to learn more about the homebuying journey and how we can assist you every step of the way. 

SHEA PREFERRED REALTY

Tips to Sell Your House Quickly

Secrets To Selling Your House Quickly

BLOGOctober 2, 2024
For SellersSelling Tips
 
 
 

Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.

According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below):

No Caption ReceivedA recent post from Realtor.com notes a similar trend:

“During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.”

Some of that is because inventory has gone up, so buyers have more options. And higher mortgage rates have definitely slowed demand over the past two years, and that’s out of your control. But here’s the secret. There’s something you can control – it’s also where those other sellers missed the mark. They didn’t work with the right agent.

Make no mistake, with the right strategy and agent partner, your house can still sell quickly, even today.

If time matters to you, you need to partner with an agent who understands this shifting market. That agent will be your go-to resource on what buyers are looking for right now, and how to position your home to hit the mark.

Here are just a few tips a great real estate agent will walk you through. They may seem simple, but advice like this can make all the difference.

1. Competitive Pricing: One of the most critical factors in selling your home quickly is setting the right price. A local real estate agent will do a competitive market analysis by reviewing recent sales and current listings for your area. Then, they’ll use that data to make sure your home is priced accurately for today’s market. This strategic pricing approach is the best way to make sure you’re hitting the sweet spot on price. If you don’t lean on an agent for this, it can really slow your process down. As U.S. News says:

“. . . setting an unrealistically high price with the idea that you can come down later doesn’t work in real estate . . . A home that’s overpriced in the beginning tends to stay on the market longer, even after the price is cut, because buyers think there must be something wrong with it.”

2. The Home’s Condition: Homes that are well maintained, have great curb appeal, and are updated with modern finishes tend to sell faster. So, if speed is a priority, make sure your house makes a great first impression. An agent is a key resource on what buyers will be looking for, if staging is worthwhile, and what repairs you need to tackle before you list. Ramsey Solutions offers this advice:

“In the spirit of selling your home fast, take care of things now that will be a problem in the closing process. Talk to your agent about fixes you’ll need to make to pass the home inspection, like: plumbing problems, roof damage, electrical issues, HVAC glitches. . . These are issues you’ll be expected to take care of before any buyers close on your house—you might as well get ahead of the game to help your home sell faster.”

3. Incentives and Extras: If you want to stand out from those other homes on the market, offering incentives or concessions, like help with closing costs, a home warranty, or including additional items (like appliances or furniture) with the sale can sweeten the deal for buyers. A real estate agent can suggest the right incentives to offer based on current market conditions and buyer expectations, so you can close the sale even faster.

Bottom Line

Selling a home quickly in a shifting market requires a strategic approach and an in-depth understanding of what buyers want. That’s why partnering with a local real estate agent is so important. As Forbes says:

“When time is of the essence, you can’t afford to take a chance on an inexperienced housing professional. Instead, you’ll want to work with a real estate agent who knows your market and has helped sellers in your situation before.”

Let’s connect to make sure you’re set up for success. Contact us at SHEA PREFERRED REALTY GROUP

BUY NOW OR WAIT?

 

If you’re wondering if you should buy now or wait, here’s what you need to know. If you wait for rates to drop more, you’ll have to deal with more competition and higher prices as additional buyers jump back in. But if you buy now, you’d get ahead of that and have the chance to start building equity. Should you buy now or wait? Let’s talk through it together, so you can make your best decision.

 

4 Things It’s Okay to Do When House Hunting

Embarking on the journey to buy a new home is a big step, and we totally get that it can feel overwhelming. It’s completely normal to have mixed emotions.

Take your time finding the right home. There’s no need to rush.???? Got questions? We’ve got answers! As your trusted agents, we’re here to guide you every step of the way and help make sense of the process.

And remember, it’s okay not to settle. Don’t compromise just for the price—hold out for the home you truly want and can afford, even if it takes a little more time.

If an offer doesn’t go through, don’t worry. That’s part of the journey. Stay encouraged, and your dream home will be worth the wait. 

Ready to start the search. Let’s connect! 

SHEA PREFERRED REALTY

 

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